Fund Description

The fund was incepted in December 1998. ING Investments is the fund's adviser and ING Investment Management is the fund's sub-adviser. The fund seeks to provide investors with a high level of current income, consistent with the preservation of capital and liquidity. Under normal market conditions, the fund operates as a diversified fund and invests at least 80% of its assets in a portfolio of bonds, including but not limited to corporate government and mortgage bonds which, at the time of investment, are rated investment grade or of comparable quality if unrated. Although the fund may invest a portion of its assets in high yield (high risk) debt securities rated below investment grade, the fund seeks to maintain a minimum average portfolio quality rating of at least investment grade. The fund may invest the remainder of its assets in convertible securities and preferred stocks; U.S. Government securities, securities of foreign governments and supranational organizations; high-quality money market instruments that the sub-adviser believes are appropriate in light of the fund's investment objective; municipal bonds, notes and commercial paper; and debt securities of foreign issuers. A portion of the fund's assets may be invested in mortgage-backed and asset-backed debt securities. Dividends, if any, are distributed monthly. Capital gains, if any are distributed annually.