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ING Direct super FUM hits $1.1bn

ING Direct's Living Super product saw its funds under management rise to $1.1 billion in 2014, up 78 per cent on the previous year.

The group as a whole recorded a net profit after tax of $297 million for the 12 months to 31 December 2014, up 9.4 per cent.

The number of Orange Everyday transaction account customers was up by more than 40 per cent to 270,000.

ING Direct chief executive Vaughn Richtor said that entering the adviser channel with Living Super in 2014 had bolstered the company's growth.

"Customers have responded to Living Super’s key features of transparency, control and value, and we have had great feedback from advisers about its simplicity," Mr Richtor said.

"As we further support advisers with full administration and management capabilities through our new Living Super portal, I am confident that our superannuation success will continue."

ING Direct has also maintained its number one position on 'net promoter score' – that is, the number of customers who are likely to recommend the bank to family and friends, Mr Richtor said.