ANZ's ING customers awaiting news on compensation

Those who had invested in ING's Diversified Yield Fund (DYF) and Regular Income Fund (RIF) via ANZ had the option to file a notice seeking additional compensation before the end of July, if they considered the offer made to them by ING to be inadequate. This was despite a clause in the offer that meant investors waived taking any further action if they accepted the deal.

ING offered investors 60 cents per unit for the DYF and 62 cents for the RIF under the "cash out" option.

ANZ National managing director, private marketing and wealth, John Body, says 99% of ING investors accepted the original offer that was made.

"We received a significant number of complaints and have completed a detailed review of each case which was requested of ANZ. We have started the process of writing back to clients and where our processes have failed our customers, we will be working with them to reach a fair resolution," he says.