About I‑WRAP
I‑WRAP was launched by ING in Hong Kong in September 2004. It is an integrated transaction recording, account keeping and valuation reporting service that consolidates investors' investments in an offshore nominee account, also known as a wrap account. Wrap accounts are designed to facilitate smooth transaction processing, ongoing record keeping and cash flow management, specifically to aid financial advisors in managing their client portfolios.
ING Platform Services Limited, a wholly-owned ING subsidiary, is the service provider of I‑WRAP in Hong Kong. In Singapore, the service is provided by ING Investment Management Asia Pacific (Singapore) Ltd. ING is committed to providing innovative, high quality wrap account services to financial intermediaries. I‑WRAP is a service for financial advisors to use with their investors. ING does not offer I‑WRAP directly to retail investors.
The key features of I‑WRAP are:
- Consolidated multi-currency, multi-lingual portfolio reporting for advisors and their clients
- I‑WRAP will report the investments in their base currency together with the reporting currency selected by investors
- Reports can be issued in English, Traditional Chinese or Simplified Chinese
- A broad menu of more than 1,000 mutual funds for investors to choose from, sourced from 25 different fund managers
- A nominee account to hold all assets
- An online facility for financial advisors, the I‑WRAP Workbench, for portfolio construction, reporting and transaction management
- Ongoing training and customer service support from the I‑WRAP Service Team out of Hong Kong and Singapore
- Online Client Access which gives investors the ability to monitor their portfolios and view daily updated valuations via secure internet, from anywhere in the world, at any time
- Simple procedures for investors to initiate transaction requests
How I‑WRAP works
As the name suggests, the service 'wraps' investors' mutual fund investments in one easy‑to‑manage package. All switches and investments take place within I‑WRAP so that each investor effectively controls a portfolio. All dividend and interest payments go into a cash fund that also sits within the wrap structure. This makes it easier for advisors and their clients to keep track of all transactions. Investors can also access information on their portfolios' performance, balance and transactions whenever they wish using the online client access.
