Fund Description

The fund was incepted in June 2002. ING Investments is the fund's adviser and Aeltus Investment Management is the fund's sub-adviser. The fund has both an offering period and a guarantee period. The offering period is the only time investors can invest in the fund. The offering period was March 2002 to May 2002 and the fund is now closed to new investors. The guarantee period runs from June 2002 through June 5, 2007 (maturity date). The fund seeks to achieve maximum total return by participating in favorable equity market performance while preserving the principal amount of the fund as of the inception of the guarantee period. Under normal market conditions, during the guarantee period the fund's assets are allocated in equity (common) stocks and fixed income securities (short to intermediate-duration U.S. Government securities). The fund invests at least 80% of the equity component's net assets in stocks included in the Standard and Poor's 500 Index (S&P 500), other than Aetna Inc. The fixed income securities consist primarily of securities issued or guaranteed by the U.S. Government and its agencies or instrumentalities, including STRIPS (Separate Trading of Registered Interest and Principal of Securities). Dividends are declared and paid annually. Capital gains distributions, if any, are paid on an annual basis around the end of the year, December 31.