Quantcast
The MFWire
Manage Email Alerts | Sponsorships | About MFWire | Who We Are

Subscribe to MFWire.com's News Alerts [click]

Rating:ING Joins Growing List of Internet Funds Not Rated 3.0 Email Routing List Email & Route  Print Print
Thursday, July 08, 1999

ING Joins Growing List of Internet Funds

Reported by Jason Shank

The ING Funds, whose 14 fund family was launched last December, has added the ING Internet Fund to its product mix. The fund will be sold through financial intermediaries, as with the rest of the family, and is available as of July 6, 1999.

Related Links
  • ING Funds
  • The ING Internet Fund
  • On MFWire.com
  • ING VAs Added to Moneystar/fn
  • Although John Pileggi, president and chief financial officer of ING Funds, admitted that the sector had been volatile, he expressed confidence in the fund's management and long-term outlook. Another difference in the new fund, which actually invests in a similar Internet portfolio to several of ING's overseas Internet funds, is the intention to close the fund to new investments at $500 million. The fund will be fully invested and intends to invest in "pure" Internet stocks.

    "Everyone has a concern about the volatility of the sector at this point," Pileggi told the MFWire.com, "but the market wanted the fund in ING's line-up. Our sales force has been talking about the success of our European Internet Fund for a while now, and the enthusiasm (for the idea) was universal."

    "We will be closing the ING Internet Fund as soon as it reaches the $500 million mark in assets," said Pileggi. "We can offer the best performance to our shareholders at this level."

    Pileggi continued, "The Internet is changing our world -- in terms of the way we communicate and the way we do business. Investors recognize the phenomenon. The demand for investment options remains strong, yet the number of Internet fund products available remain relatively few."

    The fund's lead manager and also manager for the Internet portfolio of ING's European Internet portfolio will be Guy Uding, based in The Hague. The expense ratio is 1.59% for A shares of the fund 2.24% for B and C shares.  

    Stay ahead of the news ... Sign up for our email alerts now
    CLICK HERE

    3.0
     Do You Recommend This Story?



    GO TO: MFWire
    Return to Top
     News Archives
    2019: Q4Q3Q2Q1
    2018: Q4Q3Q2Q1
    2017: Q4Q3Q2Q1
    2016: Q4Q3Q2Q1
    2015: Q4Q3Q2Q1
    2014: Q4Q3Q2Q1
    2013: Q4Q3Q2Q1
    2012: Q4Q3Q2Q1
    2011: Q4Q3Q2Q1
    2010: Q4Q3Q2Q1
    2009: Q4Q3Q2Q1
    2008: Q4Q3Q2Q1
    2007: Q4Q3Q2Q1
    2006: Q4Q3Q2Q1
    2005: Q4Q3Q2Q1
    2004: Q4Q3Q2Q1
    2003: Q4Q3Q2Q1
    2002: Q4Q3Q2Q1
     Subscribe via RSS:
    Raw XML
    Add to My Yahoo!
    follow us in feedly




    ©All rights reserved to InvestmentWires, Inc. 1997-2019
    14 Wall Street | 20th Floor | New York, NY 10005 | P: 212-331-8968 | F: 212-331-8998
    Privacy Policy :: Terms of Use