ING Investment Management U.S. has unveiled a new diversified closed-end fund, seeking to invest in a portfolio of dividend producing equity securities, primarily of issuers in emerging market countries. The ING Emerging Markets High Dividend Equity Fund will be listed on the New York Stock Exchange. The vehicle, which is managed by ING Investments, has raised $385 million in an initial public offering (IPO). Morgan Stanley, Citi, Bank of America Merrill Lynch, UBS Investment Bank, Wells Fargo Securities and Ameriprise Financial Services managed the offering.
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