ING Funds Launches the ING Foreign Fund, an International Mutual Fund that will be Sub-Advised by Julius Baer
ING’s U.S. financial services operations announced today that its retail mutual fund unit, ING Funds Distributor, LLC, has launched the ING Foreign Fund, a core international mutual fund that will be sub-advised by Julius Baer Investment Management Inc.
The ING Foreign Fund enables independent financial advisors and brokers to have access to Julius Baer’s international money management expertise. The Julius Baer portfolio managers for the ING Foreign Fund, Rudolph-Riad Younes, CFA, and Richard Pell, were named "2002 International Stock Managers of the Year" by Morningstar.
"The ING Foreign Fund represents an outstanding and timely offering for financial advisors and brokers who have clients with a growing appetite for equity exposure, and an interest in international investment opportunities," said Bob Boulware, president and CEO, ING Funds Distributor, LLC, Distributor for the Fund. "The reputation of Julius Baer, the track record of the Fund’s portfolio managers, plus the current attractiveness of international equities, may make the ING Foreign Fund a compelling investment, particularly for investors who prefer to have only one or two core international holdings in their investment portfolio."
The ING Foreign Fund portfolio managers’ philosophy is driven by the belief that a diversified core portfolio driven by sector and company fundamental analysis may be the key to delivering, long-term, risk-adjusted performance in the international equity markets. The Fund’s core approach enables the managers to seek investment opportunities regardless of the traditional distinction between growth and value.
The Fund management team also believes in "different tactics for different markets," which leads them to adopt a bottom-up stock and sector approach within the developed markets, a top-down, macro-economically driven approach for emerging markets, and a hybrid approach - bottom-up and top-down - within Japan.
"At Julius Baer we have a team of portfolio managers that are focused on seeking out the best investment ideas in international markets," said Glen Wisher, managing director, Julius Baer Investment Management Inc. "In the current market environment we continue to find compelling investment opportunities, and see international markets providing both return and diversification benefits. We are delighted to offer our international expertise to the ING Foreign Fund and look forward to working with such a reputable organization."
For more information about the ING Foreign Fund, investors should contact their investment professional or ING Distributor, LLC at 800.992.0180 for a current prospectus. The prospectus contains more complete information on all charges, fees, risks and expenses and should be read carefully before investing or sending money.
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 March 31, 2003, more than two million financial institutions, corporate clients and individual investors have entrusted more than $32.4 billion in assets under management to ING Investments.
ING Groep N.V. (NYSE: ING) is one of the largest integrated financial services companies in the world, providing insurance, banking, and asset management products. The company strives to provide an innovative, client-focused approach to its financial products and services through strategic global distribution channels. In the U.S., ING offers a comprehensive array of financial services to retail and institutional clients which include retirement plans, mutual funds, managed accounts, alternative investments, direct banking, institutional investment management, annuities, life insurance, employee benefits, financial planning, and reinsurance. Globally, ING serves over 50 million private, corporate, and institutional clients throughout 65 countries. For more information, visit www.ing.com
The Julius Baer Group is one of Switzerland’s leading investment institutions, managing assets for institutional and private clients around the world. Founded in 1890, Julius Baer is globally recognized as a premier financial corporation, which manages investor assets exceeding $75 billion as of 12/31/02.
Julius Baer Investment Management Inc. ("JBIM") is a registered investment adviser wholly owned by Julius Baer Securities, which is wholly owned by the Julius Baer Group. JBIM, located in New York and London, specializes in the management of international and global equities, fixed income and alternative investments.
ING contact: Phil Margolis - 860.723.4783
Julius Baer contact: Denise Downey, CFA - 212.297.3613