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ING funds drop sales charge for purchases of at least $1 million
By Toni Weeks
San Diego, Nov. 18 - The ING Mayflower Trust, ING Mutual Funds, ING Series Fund, Inc., ING Alternative Beta Fund and ING Global Target Payment Fund said they are waiving the front-end sales charge for purchases of $1 million or more of Class A shares, according to a 497 filing with the Securities and Exchange Commission.
Effective July 1, shares purchased will incur a contingent deferred sales charge of 1% for redemptions made within 18 months.
Purchases of less than $1 million are still subject to the existing 5.75% maximum sales charge.
The trusts' parent company is ING, whose U.S. headquarters are in Wilmington, Del.
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