(December 2 – 10:10 ET) –
ING DIRECT has launched its
itself into the no load mutual fund
business.
The ING Canadian Fund is a
balanced fund that will invest in a
combination of diversified Canadian
equities, it is 100% RSP and RIF
eligible. The ING American Fund is
a large cap growth fund which will
invest in companies with market
capitalizations of US$1 billion or
more. The ING Global Brand Names
Fund, “will strive to achieve long
term growth of capital through
investments in multi-national
companies with well-known consumer
brands”.
The funds will be sold by ING
Funds Ltd. and brokers and dealers.
ING Funds is a new subsidiary of
ING DIRECT, and is the manager and
principal distributor of the new
funds.
The portfolios will be managed
by ING Mutual Fund Management Co.
LLC, with the help of subadvisors
from the ING family, including
ING Investment Management Inc.,
Baring Asset Management, Inc.
and ING Investment Management
Advisors, B.V.
The funds are only available in
Ontario for now, but will be
offered in BC in early 2000, and
across Canada later next year.
-IE Staff
For more please see: