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ING Clarion Global Real Estate Income Fund aIGRa Announces Shareholder Approval of a New Investment Advisory Agreement

^{Published on 2011-06-16 14:35:46 - Market Wire}
 

PHILADELPHIA--([ BUSINESS WIRE ])--ING Clarion Real Estate Securities, LLC announced today that the shareholders of the ING Clarion Global Real Estate Income Fund (NYSE: IGR) (the aFunda) have approved a new investment advisory agreement between the Fund and the Funda™s investment adviser.

Per the proxy statement distributed to shareowners of record as of April 4, 2011, CB Richard Ellis Group, Inc. (aCB Richard Ellisa) has entered into definitive agreements to acquire the majority of the real estate investment management business of ING Groep N.V., including ING Clarion Real Estate Securities, LLC the Funda™s investment adviser (the aProposed Acquisitiona). The Proposed Acquisition is expected to close in the second half of 2011. Upon the closing of the Proposed Acquisition, the Advisor will continue to act as investment adviser to the Fund under a new investment advisory agreement.

Additional details with respect to the closing of the Proposed Acquisition will be provided as they become available.

About ING Clarion Real Estate Securities

ING Clarion Real Estate Securities is a registered investment management firm specializing in the management of equity real estate securities.Headquartered near Philadelphia, Pennsylvania the firm has approximately USD 19.5 billion in assets under management and over 70 employees located in offices in the United States, United Kingdom, Hong Kong, and Japan.

ING Clarion Real Estate Securities is the real estate securities management arm of ING Real Estate Investment Management.ING Group has entered into an agreement to sell the majority of ING Real Estate Investment Management, including ING Clarion Real Estate Securities, to CB Richard Ellis Group, Inc.The closing of the sale is expected to occur in the second half of 2011.