ING to stop rebalancing hedge portfolio

ING Group has said that it will no longer rebalance its hedge portfolio.

The portfolio was formerly used to hedge employee options and facilitate employee share programmes.

ING Group has said that it will no longer rebalance its hedge portfolio, which was used to hedge employee options and facilitate employee share programmes.

According to ING, this decision is an effort to simplify the management and administration of its various employee share and option programmes.

The delta hedge portfolio currently holds 47.7 million (depositary receipts for) ordinary ING shares, representing 1.2% of the 3,832 million shares outstanding.

This portfolio will be used to fund the obligations arising from the various employee share and option programmes.

ING is a global financial institution of Dutch origin offering banking, investments, life insurance and retirement services. As of 30 June 2010, ING served more than 85 million private, corporate and institutional clients in more than 40 countries.