Wellington to Sub-Advise the ING Equity Income Fund
PRNewswire
SCOTTSDALE, Ariz.
Mar 3, 2004
As of March 1, 2004, Wellington Management Company, LLP is now sub-advising the ING Equity Income Fund (formerly called the ING Growth & Income Fund) for ING's U.S. Financial Services' retail mutual fund unit, ING Investments, LLC.
Wellington Management Company, LLP is one of America's oldest investment management firms. Headquartered in Boston with eight affiliate offices in the United States and around the world, Wellington Management provides investment services to many of the world's leading public and private institutions.
The Fund will be managed by Karen H. Grimes, CFA, Vice President of Wellington Management. Ms. Grimes is a member of an investment team that specializes in value-oriented investing. She joined Wellington Management in 1995 and has been an investment professional since 1983. The investment objective of the Fund will remain long-term growth of capital and income. Wellington will replace Aeltus Investment Mgt, Inc. The change of sub-adviser will enable the Fund to pursue a different investment strategy. The new Sub- Adviser will use a contrarian approach and will seek stocks that offer above average dividend yields, below average valuations and the potential of dividend increases in the future. The Fund will invest primarily in large dividend paying companies with market capitalizations over $2 billion.
About ING Funds
ING Funds, managed by ING Investments, LLC, offers a diversified product line that encompasses a range of investment opportunities worldwide, in nearly every asset class through mutual funds and variable annuity portfolios. ING Investments, LLC resources include advisory capabilities in domestic and international, value and growth stocks, U.S. government securities, corporate investment-grade and high-yield bonds, senior loans and convertible securities. As of December 31, 2003, more than two million financial institutions, corporate clients and individual investors have entrusted more than $34.1 billion in assets under management to ING Investments.
About ING
ING's U.S. Financial Services operations ( http://www.ing-usa.com/ ) offer a comprehensive array of products and services, including mutual funds; fixed and variable annuities; retirement programs; financial planning; employee benefits; trust services and life insurance, through a variety of distribution channels. ING Funds is managed by ING Investments, LLC. ING Groep, N.V., based in Amsterdam, Netherlands, is ING Investments' parent company.
Principal Risk Factor(s): Exposure to financial and market risks that accompany investments in equities. From time to time, the stock market may not favor the large company value securities in which the fund invests. Rather, the market could favor growth-oriented stocks or small company stocks, or may not favor equities at all. Following a value orientation towards selecting securities entails special risks, particularly when used a part of a "contrarian" approach to evaluating issuers. Convertible securities with longer maturities tend to be more sensitive to changes in interest rates, usually making them more volatile than convertible securities with short maturities. International investing involves special risks including currency fluctuations, lower liquidity, political and economic uncertainties, and differences in accounting standards. ETFs present risks similar to those of an investment in the underlying securities held by the ETF. Because ETFs trade on an exchange, they may not trade at (NAV). Sometimes, the prices of ETFs may vary significantly from the ETFs underlying NAVs.
For more complete information about any ING Fund, please contact your ING Funds representative or call 800-992-0180 for a prospectus or log on to http://www.ingfunds.com/ . Please read the prospectus and consider carefully the investment objectives, risks, charges and expenses about any ING Fund before investing. The prospectus contains this information and other information about the funds.
Media Contact: Caroline Campbell, ING U.S. Financial Services Phone: 770-618-3801 Email: caroline.campbell@us.ing.com
SOURCE: ING Funds
CONTACT: Caroline Campbell of ING U.S. Financial Services,
+1-770-618-3801, or caroline.campbell@us.ing.com