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Tuesday, July 14, 2009|
ING Axes Four Funds
ING Funds appears poised to make some major changes to several of its funds. The firm filed Monday with the SEC, reavealing that the board of trustees of the ING equity trust approved a proposal on July 10 to liquidate four ING funds. The Disciplined International Small Cap Fund and the Emerging Markets Fixed Income Fund both closed to new investment Monday, and are scheduled to be liquidated on or about August 17.
An additional filing revealed that the Index Plus LargeCap Equity Fund VII and Index Plus Large Cap Equity Fund IX have also closed to investors as of Monday. The two large cap funds will liquidate on or about September 20.
It is unclear at this point what motivated the liquidations, and whether the liquidated funds are to be folded into any other existing funds. The filings note that additional shareholder communication is forthcoming.
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