Close Close
Sign In
Newsletters
Popular Financial Topics Discover relevant content from across the suite of ALM legal publications From the Industry More content from ThinkAdvisor and select sponsors Investment Advisor Issue Gallery Read digital editions of Investment Advisor Magazine Tax Facts Get clear, current, and reliable answers to pressing tax questions
Luminaries Awards
Podcast Center Video Center Webcasts Resource Center Events
About ThinkAdvisor Contact Us Advertise With Us Asset & Logo Licensing Sitemap Terms of Service Privacy Policy Copyright © 2024 ALM Global, LLC. All Rights Reserved.
ThinkAdvisor

Portfolio > Mutual Funds

ING Launches Principal Protection Fund II

By Staff Writer

X
Your article was successfully shared with the contacts you provided.

NU Online News Service, Nov. 5, 2:43 p.m. – ING Pilgrim Investments LLC, Scottsdale, Ariz., announced today the launch of the Pilgrim Principal Protection Fund II, a mutual fund with a period of guarantee of principal.

MBIA Insurance Corp., Armonk, N.Y., an insurer with an AAA rating, backs the guarantee of principal, less sales charges and certain fund expenses, ING says.

The offering phase of the fund begins today and runs through Jan. 31, 2002, ING says. The fund’s five-year guarantee period is open to investors only during this three-month offering phase.

The guarantee period follows the offering phase and runs from Feb. 1, 2002, through Jan. 31, 2007.

At the end of the guarantee period, investors may choose to keep their balances invested in the fund, exchange assets into the same share classes of other Pilgrim Funds, or receive their fund account balances in cash, ING says.

An exchange or redemption can trigger a taxable event or be subject to a contingent deferred sales charge schedule, ING says.

NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.