ING Risk Managed Natural Resources Fund Announces changes to the Name, Investment Strategy and Portfolio Management Team

SCOTTSDALE, Ariz., March 21, 2014 /PRNewswire/ -- ING Investments, LLC ("ING Investments") announced that the Board of Trustees of ING Risk Managed Natural Resources Fund (NYSE: IRR) approved changes to the name, investment strategy, and portfolio management team of the Fund. 

Effective May 1, 2014, the Fund's name will be Voya Natural Resources Equity Income Fund, subject to NYSE approval. This name change coincides with ING Investments rebranding as Voya Investments, LLC.

Currently, the Fund employs an integrated options "collar" strategy which seeks to partially reduce the exposure of the Fund to declines in the value of the equity securities in its portfolio.  To implement the Fund's collar strategy, the Fund enters into put spread positions by purchasing put options which are partially financed by the premiums received from the sale of its call and put options  In addition, the Fund employs a risk managed style on a portion of the underlying equity portfolio.  Approximately 60-70% of the value of the equity portfolio is invested in securities in the energy and materials indices in which the Fund's collar strategy is implemented and the portfolio weights for these stocks generally reflect index weights.  Under normal market conditions, the Fund generally holds approximately 80-130 equity securities in its portfolio.

Effective immediately, the Fund will no longer employ an options "collar" strategy.  Effective on or about April 1, 2014, the Fund's option strategy will consist of selling (writing) call options to secure gains and generate premiums over a market cycle, generally on 30-80% of the total value of the Fund's portfolio.  The Fund's equity portfolio will be actively managed and invests in stocks in North American natural resources companies using proprietary stock selection screens and fundamental input from sector analysts.  Under normal market conditions, the Fund will generally hold approximately 40-80 equity securities in its portfolio. 

Effective April 1, the Fund will be managed by Vincent Costa, Peg DiOrio, Frank van Etten, and Jody Hrazanek, Portfolio Managers, ING Investment Management Co. LLC ("ING U.S. IM").

Vincent Costa, CFA, Portfolio Manager, and Head of Quantitative Equity Research, is responsible for leading the portfolio implementation effort for all equity index funds and enhanced index funds. Mr. Costa joined ING U.S. IM in April 2006 as head of portfolio management for quantitative equity. Prior to joining ING U.S. IM, Mr. Costa was with Merrill Lynch Investment Management, where he worked for seven years in quantitative equity leadership positions. Most recently, he served as managing director and head of their quantitative investments organization where he had overseen some $60 billion in assets across 70 funds. Prior to that, Mr. Costa worked at Bankers Trust Company as a senior portfolio manager, managing global index and enhanced index products.

Peg DiOrio, CFA, Portfolio Manager, and quantitative analyst.  Prior to joining ING U.S. IM in 2012, Ms. DiOrio was a quantitative analyst with the Alliance Bernstein/Sanford C. Bernstein for 16 years.  Previously she was a senior investment planning analyst with Sanford C. Bernstein. 

Frank van Etten, Portfolio Manager, is Deputy Head of the Multi-Asset Strategies and Solutions group and manages the research and investment teams that design and implement investment products and solutions with asset allocation, manager selection and/or structured investment components. He joined ING U.S. IM in 2002 as an investment manager of structured products.

Jody Hrazanek is Head of Portfolio Implementation and Management in ING U.S. Investment Management's Multi-Asset Strategies and Solutions group. She is responsible for overseeing the implementation of a variety of investment solutions including asset allocation, derivatives/financial engineering, risk management, portable alpha and structured products. Jody joined ING U.S. Investment Management in October 2005 as a derivatives trader. Prior to joining ING U.S. Investment Management she was a convertible bond trader at Advent Capital Management. She had previously been a bond and risk arbitrage trader at Merrill Lynch Quantitative Advisors and Deutsche Bank Asset Management and an analyst at Goldman Sachs.

ING U.S. Investment Management, which plans to rebrand as Voya Investment Management in May 2014, is a leading active asset management firm. As of December 31, 2013, ING U.S. Investment Management manages $200 billion for affiliated and external institutions as well as for individual investors. Drawing on 40 years of history in investment management, ING U.S. Investment Management has the experience and resources to provide clients with investment solutions with an emphasis on equities, fixed income, and multi-asset and income strategies. For more information, visit http://inginvestment.com. ING U.S. Investment Management is a business of ING U.S., Inc. (NYSE: VOYA).

SHAREHOLDER INQUIRIES: ING Funds Shareholder Services at (800) 992-0180; www.ingfunds.com

An investor should consider the investment objectives, risks, charges and expenses of the Fund carefully before investing. For a free copy of the Fund's prospectus, which contains this and other information, visit us at www.inginvestment.com or call ING Investments Distributor, LLC at (800) 992-0180. Please read the prospectus carefully before investing.

CID #9044

SOURCE ING U.S. Investment Management