ING pulled in more money to its KiwiSaver funds than any other manager in the March quarter but its other funds weren’t so popular, according to FundSource data.

KiwiSaver success

ING, which includes ANZ and National Bank KiwiSaver funds, experienced a net inflow of nearly $139 million in March, beating out ASB, which brought in $107.8 million of funds in the quarter.

The Commerce Commission’s decision to delay an announcement on whether to prosecute ANZ National Bank over its promotion of failed ING funds is not acceptable, says ACT Party commerce spokesman John Boscawen.

“Thousands of people have lost money in this collapse and all were expecting an answer next week,” he said.

Commerce Commission chairman Mark Berry earlier told Parliament’s Commerce Committee that its investigation had been delayed until mid April, two weeks later than planned.

Today ANZ National Bank’s takeover of ING New Zealand and ING Australia was made official.

The $2.6 billion deal was announced on 25 September, and the transaction completed today.

It will see ING Group’s 51% shareholding reduced to til and the bank will have total ownership of the ING Group.

Two listed New Zealand companies will be affected by the takeover, the $286.2 ING Medical Properties which owns buildings such as Ascot Central, and ING Property Trust.