SCOTTSDALE, Ariz., March 21, 2014 /PRNewswire/ -- ING Investments,
LLC ("ING Investments") announced that the Board of Trustees of ING
Risk Managed Natural Resources Fund (NYSE: IRR) approved changes to
the name, investment strategy, and portfolio management team of the
Fund.
Effective May 1, 2014, the Fund's
name will be Voya Natural Resources Equity Income Fund, subject to
NYSE approval. This name change coincides with ING Investments
rebranding as Voya Investments, LLC.
Currently, the Fund employs an integrated options "collar"
strategy which seeks to partially reduce the exposure of the Fund
to declines in the value of the equity securities in its
portfolio. To implement the Fund's collar strategy, the
Fund enters into put spread positions by purchasing put options
which are partially financed by the premiums received from the sale
of its call and put options In addition, the Fund employs a
risk managed style on a portion of the underlying equity
portfolio. Approximately 60-70% of the value of the equity
portfolio is invested in securities in the energy and materials
indices in which the Fund's collar strategy is implemented and the
portfolio weights for these stocks generally reflect index
weights. Under normal market conditions, the Fund generally
holds approximately 80-130 equity securities in its portfolio.
Effective immediately, the Fund will no longer employ an options
"collar" strategy. Effective on or about April 1, 2014, the Fund's option strategy will
consist of selling (writing) call options to secure gains and
generate premiums over a market cycle, generally on 30-80% of the
total value of the Fund's portfolio. The Fund's equity
portfolio will be actively managed and invests in stocks in North
American natural resources companies using proprietary stock
selection screens and fundamental input from sector analysts.
Under normal market conditions, the Fund will generally hold
approximately 40-80 equity securities in its portfolio.
Effective April 1, the Fund will
be managed by Vincent Costa,
Peg DiOrio, Frank van Etten, and Jody Hrazanek, Portfolio Managers, ING
Investment Management Co. LLC ("ING U.S. IM").
Vincent Costa, CFA, Portfolio
Manager, and Head of Quantitative Equity Research, is responsible
for leading the portfolio implementation effort for all equity
index funds and enhanced index funds. Mr. Costa joined ING U.S. IM
in April 2006 as head of portfolio
management for quantitative equity. Prior to joining ING U.S. IM,
Mr. Costa was with Merrill Lynch Investment Management, where he
worked for seven years in quantitative equity leadership positions.
Most recently, he served as managing director and head of their
quantitative investments organization where he had overseen some
$60 billion in assets across 70
funds. Prior to that, Mr. Costa worked at Bankers Trust Company as
a senior portfolio manager, managing global index and enhanced
index products.
Peg DiOrio, CFA, Portfolio
Manager, and quantitative analyst. Prior to joining ING U.S.
IM in 2012, Ms. DiOrio was a quantitative analyst with the Alliance
Bernstein/Sanford C. Bernstein for
16 years. Previously she was a senior investment planning
analyst with Sanford C.
Bernstein.
Frank van Etten, Portfolio
Manager, is Deputy Head of the Multi-Asset Strategies and Solutions
group and manages the research and investment teams that design and
implement investment products and solutions with asset allocation,
manager selection and/or structured investment components. He
joined ING U.S. IM in 2002 as an investment manager of structured
products.
Jody Hrazanek is Head of
Portfolio Implementation and Management in ING U.S. Investment
Management's Multi-Asset Strategies and Solutions group. She is
responsible for overseeing the implementation of a variety of
investment solutions including asset allocation,
derivatives/financial engineering, risk management, portable alpha
and structured products. Jody joined ING U.S. Investment Management
in October 2005 as a derivatives
trader. Prior to joining ING U.S. Investment Management she was a
convertible bond trader at Advent Capital Management. She had
previously been a bond and risk arbitrage trader at Merrill Lynch
Quantitative Advisors and Deutsche Bank Asset Management and an
analyst at Goldman Sachs.
ING U.S. Investment Management, which plans to rebrand as Voya
Investment Management in May 2014, is
a leading active asset management firm. As of December 31, 2013, ING U.S. Investment Management
manages $200 billion for affiliated
and external institutions as well as for individual investors.
Drawing on 40 years of history in investment management, ING U.S.
Investment Management has the experience and resources to provide
clients with investment solutions with an emphasis on equities,
fixed income, and multi-asset and income strategies. For more
information, visit http://inginvestment.com. ING U.S. Investment
Management is a business of ING U.S., Inc. (NYSE: VOYA).
SHAREHOLDER INQUIRIES: ING Funds Shareholder Services at (800)
992-0180; www.ingfunds.com
An investor should consider the investment objectives, risks,
charges and expenses of the Fund carefully before investing. For a
free copy of the Fund's prospectus, which contains this and other
information, visit us at www.inginvestment.com or call ING
Investments Distributor, LLC at (800) 992-0180. Please read the
prospectus carefully before investing.
CID #9044
SOURCE ING U.S. Investment Management