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Mutual funds

ING Direct Asset Management changes name of mutual funds


ING Direct Asset Management is changing the names of its Streetwise Funds mutual funds to Streetwise Portfolios.

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; and 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", says 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 US 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."

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