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ING Investment Management International announced today that the ING (L) Renta Fund Global High Yield has surpassed the EUR3 billion mark in assets under management (AUM). Significant inflows have continued despite the decrease in overall yield levels and the general fear of rising interest rates. Throughout the year the asset class has posted a positive total return driven by strong credit fundamentals that have led to a tightening of credit spreads. The negative impact of rising interest rates has been more than compensated by this tightening. ING IM expects the asset class to post a positive total return in the range of 5.5 to 6% over the next 12 months. The portfolio management team has managed in the year to date to avoid defaults in all regions. Within the current investment...
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