ING DIRECT launches Streetwise Equity Growth Fund

TORONTO, Nov. 23, 2011 /PRNewswire/ - ING DIRECT Asset Management Limited, the manager of the Streetwise Funds, today announced the launch of a new Streetwise Fund, offering unique global equity diversification in one simple fund. The new Streetwise Equity Growth Fund, the fourth fund in the Streetwise portfolio family, follows the same index-based investment philosophy of the existing Streetwise Funds, with a 100% equity component.

The Streetwise Equity Growth Fund will track the same three equity indices as the existing Streetwise Funds including:

• 50% Canadian Equity Index (S&P/TSX 60)
• 25% US Equity Index (S&P 500)
• 25% International Equity Index (MSCI EAFE)

The Streetwise Funds offer a range of asset allocations for investors to meet levels of risk tolerance ranging from low-medium through to medium-high. The most conservative fund is income focused and each additional fund increases the equity component exposure for investors.

"More Canadians are beginning to question the value and returns of actively-managed mutual funds, and turning to index based funds as an alternative," said Peter Aceto, President and CEO, ING DIRECT.  "We have seen impressive growth in our Streetwise portfolio, and as more Canadians have realized the value of the index approach, there is a greater demand for a fund with higher growth potential. With the launch of the Streetwise Equity Growth Fund we now have an all equity product for Canadians to invest in this coming RSP season."

The portfolio sub-advisor for the Streetwise Equity Growth Fund is State Street Global Advisors, Ltd.  The Fund is offered at a low MER of 1.07%, about half the cost of the average portfolio fund. There is no minimum contribution, and quarterly rebalancing is included in the cost.

Silvio Stroescu, Head of Mutual Funds at ING DIRECT says that Canadians shouldn't underestimate the value of disciplined rebalancing, a unique feature of the Streetwise Funds.

"Most of us are simply not wired psychologically to sell a well-performing fund and buy one that looks less attractive, but this is the essence of rebalancing. The Streetwise Funds automate this buy low, sell high philosophy, and it's included in the already low cost of buying the funds. Even the savviest investors realize the value this offers," added Stroescu.

The Streetwise Equity Growth Fund is a medium-high risk fund suitable for investors who seek growth potential, have a medium-high risk tolerance, a long time horizon and seek capital appreciation.

Visit www.ingdirect.ca/streetwise for more information.

About ING DIRECT

ING DIRECT is Canada's leading direct bank with over 1.7 million Clients and more than $37.6 billion in total assets. ING DIRECT gives the power of saving to all Canadians by offering high-value, simple products such as high interest savings accounts with no fees or service charges, low rates on mortgages and a no-fee daily chequing account that actually pays interest. ING DIRECT has been operating in Canada since 1997 and has paid more than $5 billion in interest to Clients. ING DIRECT is open for banking 24 hours a day, 7 days a week, at ingdirect.ca, on mobile devices at m.ingdirect.ca or by calling 1-800 ING DIRECT (1-800-464-3743).

The Streetwise Funds are offered by ING DIRECT Asset Management Limited, a wholly owned subsidiary of ING Bank of Canada.  ING DIRECT Funds Limited is the principal distributor of The Streetwise Funds.

SOURCE ING DIRECT