ING Clarion Real Estate Securities announced that the reorganization of ING Clarion Global Real Estate Income Fund, IGR Merger Subsidiary, a direct subsidiary of IGR, and ING Clarion Real Estate Income Fund was effective as of the opening of business of the New York Stock Exchange on Oct. 1.

In the reorganization, IGR said it acquired substantially all of the assets and liabilities of IIA in a tax free transaction in exchange for an equal aggregate value of newly-issued common shares of beneficial interest of IGR. The reorganization occurred based on the relative net asset values of IIA and IGR.

The closed-end fund IGR is managed by ING Clarion Real Estate Securities a registered investment management firm specializing in the management of equity real estate securities.

ING Clarion Real Estate Securities is the real estate equity management arm of ING Real Estate Investment Management, a global real estate investment management company.

ING Real Estate Investment Management is part of ING Group, a global financial institution of Dutch origin offering banking, investments, life insurance and retirement services.