ING had an underwhelming IPO, opening at 25-cents below their initial offering price of $19.50, but that doesn't mean that mutual fund M&A is toast.

P&I argues that ING shouldn't be considered a harbinger for deals to come because the company is not a pure-play asset manager.

Rather it is a complicated business sporting a huge variety of different functions.

“The market looks at ( ING) more as an insurer than as a money manager,” the article quotes Domonkos Koltai, partner and co-founder of PL Advisors, New York.

The appetite still seems to be strong for pure focus asset managers.

“The overall window is open more than it was a year ago,” Silver Lane's Elizabeth Nesvold told P&I. 

Edited by: Tommy Fernandez


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