MutualFundWire.com: ING Offers New Principal Protection Fund
MutualFundWire.com
   The insiders' edge for 40 Act industry executives!
an InvestmentWires' Publication
Friday, November 01, 2002

ING Offers New Principal Protection Fund


ING Funds has launched ING Principal Protection Fund, a mutual fund with a five-year period of guaranteed principal. ING's four most recent Principal Protection Funds have attracted more than $2.7 billion in assets.

"The Funds have been particularly appealing to investors who are concerned with generating a stream of income from their retirement assets," said Bob Boulware, president of ING Funds Distributor, which markets the Fund.

The offering period of IPPF V begins Nov. 1, 2002, and runs through Jan. 15, 2003. The Fund is open to investors only during this two-and-a-half month offering period, for IRA transfers, the deadline is December 16, 2002.

A quiet period follows the offering period, which runs from January 16 through January 22, 2003, at which time no new deposits will be accepted. The guarantee of principal is backed by MBIA Insurance, an AAA-rated monoline insurer. The five-year guarantee period follows the quiet period and runs from January 23, 2003 through January 22, 2008. ING Funds is a unit of ING's U.S. financial services, which is a part of Amsterdam-based ING Groep N.V.


Printed from: MFWire.com/story.asp?s=3896

Copyright 2002, InvestmentWires, Inc.
All Rights Reserved
Back to Top