News

Cash now, cash later: ING converts deal

Tuesday 24th of March 2009

In a statement, ING New Zealand chief, Helen Troup, said “in response to positive feedback on the [original] proposal” the group would allow investors in the Diversified Yield Fund (DYF) and Regular Income Fund (RIF) to split their withdrawals between cash now and a further payment in five years' time.

Under ING's proposal late in February, the group offered to pay DYF/RIF investors 60-6...

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