NU Online News Service, Nov. 1, 10:25 a.m. – ING Groep N.V.’s U.S. financial services operations says that its retail mutual fund unit, ING Funds in Scottsdale, Ariz., has launched the ING Principal Protection Fund V, a mutual fund with a five-year period of guarantee of principal.
ING, in Amsterdam, says its four most recent Principal Protection Funds have attracted more than $2.7 billion in assets.
“A precipitous drop in retirement principal can shake the foundation of even the most sound retirement plan,” says Bob Boulware, president of ING Funds Distributor, LLC, distributor for the fund. “The ING Principal Protection Funds are intended to protect against that.”
The offering runs through Jan. 15, 2003. For IRA transfers, the deadline is Dec.16.