ING Equity Dividend Fund gets new name, strategy on May 18

By Toni Weeks

San Diego, March 9 - The board of trustees of the ING Equity Trust approved on March 8 a change to the name, investment objective and principal investment strategy of the ING Equity Dividend Fund, according to a 497 filing with the Securities and Exchange Commission.

Effective May 18, the fund's new name will be ING Large Cap Value Fund.

At that time, the fund will begin seeking long-term growth of capital and current income and will invest at least 80% of its net assets, plus borrowings, for investment purposes in equity securities of dividend-paying large-capitalization issuers.

The fund currently seeks growth of capital and current income by investing the same percentage of its assets in equity securities of dividend-paying, but not necessarily large-capitalization, companies.

The board also approved a 0.05% waiver with respect to the distribution fee payable for the fund's class R shares. The waiver is effective March 1.

ING Investments, LLC, a wholly owned subsidiary of Amsterdan-based ING Groep NV, is the fund's investment adviser.

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