Two ING Clarion REIT funds have made the jump from the AMEX to the NYSE. The ING Clarion Global Real Estate Income Fund and the ING Clarion Real Estate Income Fund will continue to trade under their current ticker symbols, IGR and IIA.
Today, two ING Clarion Funds: ING Clarion Global Real Estate Income Fund (NYSE: IGR) and ING Clarion Real Estate Income Fund (NYSE: IIA), celebrated their transfer from the American Stock Exchange to the New York Stock Exchange. The funds will continue to trade under their current ticker symbols: IGR and IIA, respectively.
ING Clarion Real Estate Securities Chief Executive Officer T. Ritson Ferguson, joined by senior executives from the company, commemorated today’s transfer by ringing The Opening BellSM.
"We are committed to maintaining a highly visible and orderly secondary market for our fund shares. We believe the transfer of shares to the NYSE is in the best interest of our shareholders," said Ritson Ferguson, CEO of ING Clarion Real Estate Securities. "We also believe Bear Wagner will do an excellent job as specialist for both IGR and IIA."
The listings of the two ING Clarion Real Estate Income funds bring the total number of AMEX transfers to the NYSE to five thus far in 2007. Year-to-date, 31 new closed-end funds IPOs have joined the New York Stock Exchange with a total market value of $26.3 billion. The total market cap of the more than 500 NYSE-listed closed-end funds is $206.4 billion (year-to-date).
“We welcome ING Clarion Real Estate Income Fund and ING Clarion Global Real Estate Income Fund to the NYSE roster of listed closed-end funds,” said NYSE Euronext CEO John A. Thain. “The transfer of ING Clarion funds to the NYSE further underscores the value of an NYSE listing. We look forward to our continued partnership with ING and providing the shareholders of its funds with superior market quality, liquidity and visibility.”
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Link to see all NYSE Closed End Funds: nyse.com/cefs.
About ING Clarion Real Estate Securities, L.P.
ING Clarion Real Estate Securities, L.P. is a registered investment management firm specializing in the management of equity real estate securities. Headquartered near Philadelphia, Pennsylvania the firm has approximately USD 21 billion in assets under management as of June 30, 2007 and over 50 employees located throughout the United States, the United Kingdom, Hong Kong, and Japan.
ING Clarion Real Estate Securities is the real estate equity management arm of ING Real Estate, a global real estate company active in investment management, development and finance. With a total business portfolio of $120 billion and offices in 21 countries in Europe, America, Asia and Australia, ING Real Estate ranks among the world's strongest real estate companies. ING Real Estate is part of ING Group.
About NYSE Euronext (NYSE: NYX)
NYSE Euronext, a holding company created by the combination of NYSE Group, Inc. and Euronext N.V., commenced trading on April 4, 2007. NYSE Euronext (NYSE Euronext: NYX) operates the world’s largest and most liquid exchange group and offers the most diverse array of financial products and services. NYSE Euronext, which brings together six cash equities exchanges in five countries and six derivatives exchanges in six countries, is a world leader for listings, trading in cash equities, equity and interest rate derivatives, bonds and the distribution of market data. Representing a combined $30.8 trillion/€22.8 trillion total market capitalization of listed companies and average daily trading value of approximately $127.0 billion/€94.0 billion (as of June 29, 2007), NYSE Euronext seeks to provide the highest standards of market quality and integrity, innovative products and services to investors, issuers, and all users of its markets.
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