ING registers four new pooled funds; launch anticipated in May

By Toni Weeks

San Diego, March 8 - ING Separate Portfolios Trust registered four new series in an N-1A filing with the Securities and Exchange Commission. The trust expects to launch the new funds in May.

The new funds are the ING Pooled Emerging Markets Corporate Debt Fund, the ING Pooled Emerging Markets Hard Currency Sovereign Debt Fund, the ING Pooled Emerging Markets Local Currency Debt Fund and the ING Pooled Loan Fund. The ticker symbols have not yet been determined.

The ING Pooled Emerging Markets Corporate Debt Fund will seek to maximize total return through a combination of current income and capital appreciation by investing at least 80% of its net assets, plus borrowings made for investment purposes, in fixed-income and floating-rate debt instruments of corporate issuers in emerging market countries.

Jennifer Gorgoll will be the portfolio manager.

The ING Pooled Emerging Markets Hard Currency Sovereign Debt Fund will seek to maximize total return through a combination of current income and capital appreciation by investing at least 80% of its net assets, plus borrowings made for investment purposes, in fixed-income and floating-rate debt instruments of governments and governmental entities, agencies and other issuers, the obligations of which are guaranteed by sovereigns of emerging market countries that are denominated in dollars and foreign hard currencies.

Marcello Assalin will be the portfolio manager.

The ING Pooled Emerging Markets Local Currency Debt Fund will seek to maximize total return through a combination of current income and capital appreciation by investing at least 80% of its net assets, plus borrowings made for investment purposes, in fixed-income and floating-rate debt instruments of issuers in emerging market countries that are denominated in emerging market currencies and in derivative instruments that provide investment exposure to such securities.

Assalin will be the portfolio manager.

The ING Pooled Loan Fund will seek to provide investors with a high level of current income by investing at least 80% of its net assets, plus borrowings made for investment purposes, in floating-rate loans and other floating-rate debt instruments, including floating-rate bonds, floating-rate notes, floating-rate debentures and tranches of floating-rate, asset-backed securities, which may include structured notes made to or issued by U.S. and non-U.S. corporations or other business entities.

The fund generally invests in below-investment-grade floating-rate loans that either hold the most senior position in the capital structure of the borrower, hold an equal ranking with other senior debt or have characteristics that justify treatment as senior debt. The fund may also invest up to 20% of its assets in senior or subordinated fixed-rate debt instruments, including secured or unsecured notes and bonds, or equity securities.

Jeffrey A. Bakalar and Daniel Normal will serve as the portfolio managers.

The funds will not impose any shareholder fees. Management fees have not yet been set.

ING Investments, LLC, a wholly owned subsidiary of Amsterday-based ING Groep NV, will serve as the funds' investment adviser.

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