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Rating:ING Hires Wellington to Replace Thornburg Not Rated 0.0 Email Routing List Email & Route  Print Print
Friday, September 20, 2013

ING Hires Wellington to Replace Thornburg

by: Jay Kim

On September 12, ING Mutual Fund's [profile] Board of Trustees approved the removal of Thornburg Investment Managment [profile] as a sub-adviser to the ING International Core Fund, effective close of business on November 22, 2013. Thornburg currently manages a portion of the fund's assets and Wellington Management Company [profile] manages the other portion of the fund's assets.

From the close of business on November 8 through the close of business on November 22, the fund will be in a transition period during which time a transition manager with sell all or most of the assets managed by Thornburg and the transition manager may hold a large portion of the fund's assets in temporary investments.

Effective on or about November 25, Wellington Management Company will be the sole sub-adviser managing all of the fund's assets. [SEC Filing]  

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