NU Online News Service, March 1, 1:15 p.m. – ING Investments L.L.C., Scottsdale, Ariz., is starting ING Principal Protection Fund III, a mutual fund that courts skittish investors with a five-year period of guarantee of principal.
The offering period for the fund will last from March 1 to May 30, and a quiet period following the offering period will last from May 31 to June 5.
For investors who invest in the fund during the offering period and keep all their assets in the fund until June 5, 2007, ING will guarantee the net asset value of the principal recorded June 5, 2002, after subtracting sales charges and fund expenses.
During the guarantee period, investors pay a fee equal to 0.33% of the fund’s average daily net assets for the guarantee, ING says.
The minimum investment is $1,000.