The assets of the mutual funds managed by ING Investment Management totaled CZK69.3 billion (€2.4 billion) at end-2005, representing a 36.9% year-on-year growth, director Jozef Sincak announced. The ING Cesky akciovy fond yielded 39.5%, ING Cesky fond obligaci returned 4.4% and ING Cesky fond penezniho trhu returned 1.3%. At the same time, the yields at other mutual funds also increased in 2005, according to the data provided by the Association of Investment Companies. Equity funds yielded 17% on average in 2005, balanced funds returned 8%, bond funds returned 3.1% and money market funds returned over 1%. The ING funds are the funds of ING Group in both local and foreign currencies, registered in Luxembourg, and the minimum required investment is CZK 500. ING Investment Management is a leading asset manager on the Czech market. Other units of the Dutch ING Group operating in the Czech Republic are ING Bank, ING Pojistovna and ING Penzijni fond.
