ING investors run out of time

The deadline for complaints to the Banking Ombudsman or the ANZ Bank by investors in two ING structured credit funds closes today.

Around 2700 of the more than 13,000 investors in the ING Diversified Yield Fund and Regular Income Funds came in via the ANZ Bank, which owns 49 per cent of ING.

More than 500 complaints have already been made to the Banking Ombudsman and of the 129 that have been processed, 80 per cent have been settled partially or fully in favour of the investor.

ING made a settlement offer to investors in May which 95 per cent of people accepted but ANZ investors were allowed to lodge complaints up until today.