ING Funds Closes ING International Value Fund To New Investments
PRNewswire-FirstCall
SCOTTSDALE, Ariz.
Jun 28, 2002
ING's U.S. financial services operations announced today that its retail mutual fund unit, ING Funds, will close the ING International Value Fund to new investments, effective at the close of the market on June 28, 2002.
The closing of the fund generally applies to new accounts and to additional investments with a few minor exceptions. Shareholders may continue to reinvest their income dividends and capital gains distributions after June 30, 2002. The ING International Value Fund is sub-advised by Brandes Investment Partners, LP.
Shares of the ING International Value Fund may continue to be purchased through the reinvestment of dividends and distributions; through 401(k), 403(b) and 457 Plans that have selected the ING International Value Fund as an investment option prior to the closing; and by shareholders participating in mutual fund wrap fee programs who have invested in the Fund prior to that date.
"The ING International Value Fund is being closed to new assets in order to preserve the management fundamentals inherent to this style of fund," said Bob Boulware, CEO and President, ING Funds Distributor, Inc. "For investors who are interested in exploring other opportunities in the international sector, ING Funds has several intriguing alternatives for their investment dollars."
Potential investors should consult with their investment professional. International investing poses special risks, including currency fluctuation, economic and political risks not found in investments that are solely domestic.
The ING International Value Fund may reopen in the future subject to the discretion of ING Fund's Board of Trustees. Additional information is available at http://www.ingfunds.com/ .
ING's U.S. financial services operations (http://www.ing-usa.com/ ) offer a comprehensive array of products and services, including life insurance; fixed and variable annuities; retirement programs; employee benefits; and mutual funds, through a variety of distribution channels. ING U.S. Financial Services is part of Amsterdam-based ING Groep N.V., one of the largest integrated financial services organizations in the world.
For a current prospectus containing more complete information about any ING Fund, including sales charges and expenses, call ING Funds Distributor, Inc. at 800.992.0180. Please read the prospectus(es) carefully before you invest or send money.
SOURCE: ING U.S.
CONTACT: Dana E. Ripley of ING, +1-770-980-3317 or
cellular, +1-404-202-6679