ING Real Estate announces that its three Dutch institutional funds - ING Dutch Office Funds, ING Dutch Residential Funds, ING Dutch Retail Funds - have produced excellent returns throughout 2006.
ING Dutch Office Funds, with 1.67 bn assets under management year-end 2006, presented a 13.4% 13.8% total return, compared to 8.9% for 2005. ING Dutch Residential Funds, with 1.04 bn Assets under management year-end 2006, presented a 10.4% total return, compared tot 13.2%-13.3% for 2005. ING Dutch Retail Funds, with 1.71 bn Assets under managementyear-end 2006, presented a 20.5%-21.1% total return, compared to 13.8%-15.9% for 2005.
These results were driven by strong revaluations that reflect both the improved market fundamentals and the intensive asset management programme at ING Real Estate.
In addition, investors contributed a further 400 million of equity to the Funds through the year - a further vote of confidence in the Funds and the Dutch office, residential and retail markets.
Source: ING Real Estate
