Christchurch investors who lost money in ING funds, are holding a protest in Cathedral Square today.
Thousands of disgruntled investors throughout the country are angry with ANZ after ING's Diversified Yield and Regular Income funds were frozen in March last year.
The funds have lost money through the credit crisis and around 8,000 investors are unable to get back the $521 million invested in the funds. Many claim the bank's advisors told them the ING funds were low risk.
Local branch convener John Readman says up to 40 protestors will follow the action of other groups around the country who are all complaining of receiving misinformation.
"The first protest happened in Motueka. Blenheim have protested, Invercargill, Auckland, Wellington and Hawkes Bay."
The investors are demanding the bank refund their investment.
- NEWSTALK ZB
ING investors hold protest in Christchurch
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