Negative investment property value hits ING fund
ING Office Fund (IOF) has released information to the market that its operating profit for the first half of the year will be down by more than 15 per cent due to negative fair value in investment properties and financial instruments.
The results for the six months to December 2008 are currently being reviewed by ING’s auditors and will be released to the market on February 23. ING said it was unaware of any other reason for its recent share price weakness, apart from continuing volatility in the market. IOF shares weakened by 7 cents to 60 cents.
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