ING assets fall 4.4% following sale of Barings

ING's asset management business saw funds fall 4.4% in the three months to March 31 after the sale of Baring Asset Management reduced the firm's share of the institutional fund management market.

The Dutch group's institutional business dropped 17.2% to €99bn ($126bn) after Baring Asset Management was sold to US firms Northern Trust and Mass Mutual for €250m in April.

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