ING DIRECT Asset Management Limited announces name changes for its mutual funds

New name to more accurately reflect the product offering

TORONTO, Nov. 14, 2012 /PRNewswire/ - ING DIRECT Asset Management Limited, the manager of The Streetwise Funds, has announced that effective today, the name of its mutual funds will be Streetwise Portfolios™.

Here are the details of the name change:

ING DIRECT Streetwise Balanced Income Fund will be called ING DIRECT Streetwise Balanced Income Portfolio
ING DIRECT Streetwise Balanced Fund will be called ING DIRECT Streetwise Balanced Portfolio
ING DIRECT Streetwise Balanced Growth Fund will be called ING DIRECT Streetwise Balanced Growth Portfolio
ING DIRECT Streetwise Equity Growth Fund will be called ING DIRECT Streetwise Equity Growth Portfolio

"With Streetwise, investors get a portfolio matched to their specific investment goals", explains Silvio Stroescu, Head of Mutual Funds at ING DIRECT. "Using an indexing strategy, and with the discipline of rebalancing already built in, Streetwise Portfolios provide a turnkey solution for our Clients. There is no need for Clients to worry about picking the right individual mutual funds because each Streetwise portfolio already includes multiple indexes covering not only the Canadian market, but also the U.S. and International markets."

This indexing strategy has always been used by The Streetwise Funds, but incorporating the term "portfolio" in the product name helps investors to better understand the full nature of the suite of investments.

"For Canadians to make informed decisions about their investments, it's important that they understand all the benefits of their investment options", says Stroescu. "We feel that this name change will more accurately reflect our product characteristics and will help Clients determine where they can get the most value in working towards their financial goals."

Earlier in the year, ING DIRECT launched a campaign to reintroduce itself to Canadians, reminding them that it is more than just a savings bank. Now with the new name for their mutual fund products, ING DIRECT Asset Management Limited is reintroducing Streetwise to Canadians, making sure they understand that each investment in the Streetwise family is far more than just a fund - it's a single portfolio solution.

About ING DIRECT Streetwise Portfolios

ING DIRECT Streetwise Portfolios are exclusively offered by ING DIRECT Asset Management Limited. ING Direct Funds Limited is the principal distributor of ING DIRECT Streetwise Portfolios. ING Direct Funds Limited offers mutual funds across Canada.  ING Direct Funds Limited and ING Direct Asset Management Limited are wholly-owned subsidiaries of ING Bank of Canada.  Commissions, trailing commissions, management fees and expenses all may be associated with mutual fund investments. Please read the prospectus before investing. Mutual funds are not guaranteed, their values change frequently and past performance may not be repeated. Mutual funds are not insured by the Canada Deposit Insurance Corporation or any other government deposit insurer, and are not guaranteed by ING Bank of Canada, or any other Canadian financial institution.

™ Streetwise Portfolios is a trademark of ING Bank of Canada.

SOURCE ING DIRECT

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