TORONTO, Nov. 23, 2011 /CNW/ - ING DIRECT Asset Management Limited, the
manager of the Streetwise Funds, today announced the launch of a new
Streetwise Fund, offering unique global equity diversification in one
simple fund. The new Streetwise Equity Growth Fund, the fourth fund in
the Streetwise portfolio family, follows the same index-based
investment philosophy of the existing Streetwise Funds, with a 100%
The Streetwise Equity Growth Fund will track the same three equity
indices as the existing Streetwise Funds including:
50% Canadian Equity Index (S&P/TSX 60)
25% US Equity Index (S&P 500)
25% International Equity Index (MSCI EAFE)
The Streetwise Funds offer a range of asset allocations for investors to
meet levels of risk tolerance ranging from low-medium through to
medium-high. The most conservative fund is income focused and each
additional fund increases the equity component exposure for investors.
"More Canadians are beginning to question the value and returns of
actively-managed mutual funds, and turning to index based funds as an
alternative," said Peter Aceto, President and CEO, ING DIRECT. "We
have seen impressive growth in our Streetwise portfolio, and as more
Canadians have realized the value of the index approach, there is a
greater demand for a fund with higher growth potential. With the launch
of the Streetwise Equity Growth Fund we now have an all equity product
for Canadians to invest in this coming RSP season."
The portfolio sub-advisor for the Streetwise Equity Growth Fund is State
Street Global Advisors, Ltd. The Fund is offered at a low MER of
1.07%, about half the cost of the average portfolio fund. There is no
minimum contribution, and quarterly rebalancing is included in the
Silvio Stroescu, Head of Mutual Funds at ING DIRECT says that Canadians
shouldn't underestimate the value of disciplined rebalancing, a unique
feature of the Streetwise Funds.
"Most of us are simply not wired psychologically to sell a
well-performing fund and buy one that looks less attractive, but this
is the essence of rebalancing. The Streetwise Funds automate this buy
low, sell high philosophy, and it's included in the already low cost of
buying the funds. Even the savviest investors realize the value this
offers," added Stroescu.
The Streetwise Equity Growth Fund is a medium-high risk fund suitable
for investors who seek growth potential, have a medium-high risk
tolerance, a long time horizon and seek capital appreciation.
Visit www.ingdirect.ca/streetwise for more information.
About ING DIRECT
ING DIRECT is Canada's leading direct bank with over 1.7 million Clients
and more than $37.6 billion in total assets. ING DIRECT gives the power
of saving to all Canadians by offering high-value, simple products such
as high interest savings accounts with no fees or service charges, low
rates on mortgages and a no-fee daily chequing account that actually
pays interest. ING DIRECT has been operating in Canada since 1997 and
has paid more than $5 billion in interest to Clients. ING DIRECT is
open for banking 24 hours a day, 7 days a week, at ingdirect.ca, on mobile devices at m.ingdirect.ca or by calling 1-800 ING DIRECT (1-800-464-3743).
The Streetwise Funds are offered by ING DIRECT Asset Management Limited,
a wholly owned subsidiary of ING Bank of Canada. ING DIRECT Funds
Limited is the principal distributor of The Streetwise Funds.
SOURCE ING DIRECT
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