Asset management (continued)
Financial developments
Assets under management fell by EUR 91.4 billion, or 14.2%, to EUR 551.3 billion in 2008, as a result of the sharp deterioration in financial markets. Lower asset prices for equity and fixed-income securities had an adverse impact of EUR 99.1 billion. Despite the depressed financial markets, ING recorded a net inflow of EUR 17.4 billion in 2008. All lines of business contributed to this net inflow with the exception of Insurance Europe which reported a net outflow of EUR 2.2 billion. Acquisitions and divestments had a net negative impact of EUR 6.2 billion and exchange rate movements reduced assets under management by EUR 3.6 billion.
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