ING Funds Selects Wellington Management to Sub-Advise the ING LargeCap Growth Fund
Effective June 2, 2003, Wellington Management Company, LLP will sub-advise the ING LargeCap Growth Fund and the ING LargeCap Growth variable portfolio for ING’s U.S. Financial Services’ retail mutual fund unit, ING Funds Distributor, LLC. The investment objective of the ING LargeCap Growth Fund is to seek long-term capital appreciation.
"ING Funds selected Wellington Management as the sub-adviser of the ING LargeCap Growth Fund because of their outstanding track record as a large cap growth money manager," said Bob Boulware, president and CEO, ING Funds Distributor, LLC, distributor for the Fund.
Wellington Management employs a very disciplined investment philosophy that focuses on proprietary fundamental research, companies with a sustainable growth advantage, and the ability to detect change early and position the portfolio accordingly. This philosophy has historically allowed Wellington Management to perform well in various market conditions. Although, past performance does not guarantee future results.
Wellington Management is one of the most respected asset managers in the mutual fund industry. Wellington Management has more than 70 years of investment management experience and currently manages $303 billion in assets as of March 31, 2003. The portfolio manager on the ING LargeCap Growth Fund is Andrew J. Shilling, CFA. Mr.Shilling, Senior Vice President and Partner for Wellington Management has 13 years of investment experience. He received his MBA from the Amos Tuck School of Business Administration at Dartmouth College.
Due to the past performance of the ING LargeCap Growth Fund, any possible future capital gains may not be taxed because of the accumulated capital tax loss carryforwards set to expire in the years 2008 through 2011.
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’s U.S. financial services operations www.ing.com offer a comprehensive array of products and services, including mutual funds; fixed and variable annuities; retirement programs; financial planning; employee benefits; trust services and life insurance, through a variety of distribution channels. ING U.S. Financial Services is part of Amsterdam-based ING Groep N.V., one of the largest integrated financial services organizations in the world.
ING press contact: Phil Margolis - 860.723.4783
Principal Risks: Exposure to financial and market risks that accompany investments in equities. The Fund invest in companies that the portfolio managers believe have the potential for rapid growth, which may give the Fund a higher risk of price volatility than a fund that emphasizes other styles. Foreign investing involves special risks including currency fluctuations, lower liquidity, political and economic uncertainties, and differences in accounting standards. Investing in stocks of mid-sized companies may entail greater price volatility than investing in stocks of larger companies.
For more information about the ING LargeCap Growth Fund, please contact your investment professional or ING Funds Distributor, LLC at (800) 992-0180 for a current prospectus, which contains more complete information on all charges, fees, risks and expenses. Please read it carefully before investing or sending money.
For a current variable portfolio prospectus, call (800) 334-3444. The prospectus contains more complete information and should be read carefully before investing.