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Monuta selects ING to manage EUR 450m fixed-income portfolio

Posted 9 March 2012 - 12:41pm by Fundamentals magazine

Monuta funeral services and insurance provider has chosen ING Investment Management (ING IM) to manage its fixed-income securities portfolio of EUR 450 million from 1 March 2012. The mandate will be managed by ING IM's Insurance Boutique. This department was specially set up to manage portfolios on behalf of insurers, taking into account the specific frameworks within which insurers are required to operate, such as Solvency II, for example. Monuta was actively assisted by Montae consultants during the selection process.

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Monuta has previously managed its fixed-income portfolio itself. Driven by the increasingly complex financial markets, Monuta decided to look for a partner to take over this part of its investment activities. In this context, Monuta last year transferred its monitoring activities to ING IM's Implemented Client Solutions (ICS) department.

René Collé (Monuta's Finance Director): “We sought a partner who is both a specialist in the field of fixed-income securities and who has in-depth knowledge of managing portfolios on behalf of insurers. During the selection process, Monuta chose ING IM from amongst several good parties. ING IM has shown that it has the necessary know-how in both areas and has convinced us of the quality of the solution offered. We have every confidence that ING IM is the best and most competent party to manage Monuta's portfolio.”

André van den Heuvel (Head of Client Group Europe / Member of the International Management Committee, ING IM): “We are naturally very proud to have been chosen by Monuta. We have devoted a lot of time and effort in recent years to creating investment solutions for insurers, amongst other things. ING IM itself has its roots in the insurance industry, and we have unrivalled knowledge of the complex environment in which insurers must operate. We are pleased that our expertise and quality in this area are being recognised by the market. It also provides us with confirmation that we took the right decision in establishing an Insurance Boutique.”