Share Classes & Expenses
There are a number of ways to purchase ING Funds. Discuss the following choices with your investment professional to determine which share class option might be right for you.
When choosing between classes, you should carefully consider the ongoing annual expenses along with the initial sales charge or the CDSC. The relative impact of the initial sales charge and ongoing annual expenses will depend on the length of time a share is held. Higher distribution fees mean a higher expense ratio, so Class B and Class C shares pay correspondingly lower dividends and may have a lower net asset value than Class A shares.
Class A | Class B | Class C | Class M | Class I | Class Q | Class R
Class A Shares
Minimum Investment Amount: $1,000
Maximum Investment Amount: None
Key Features:
- Lower ongoing fund expense
- Quantity discounts (breakpoints)
- Traditional up-front sales charge at time of purchase
- Load waivers available for certain groups of investors
- NAV breakpoint at $1 million
Investor Profile
- Long term investors who are comfortable with traditional front-end loads
- Large-volume purchasers who want to take advantage of quantity discounts
- Investors concerned with higher ongoing fees
Class B Shares
Minimum Investment Amount: $1,000
Maximum Investment Amount: $100,000
Key Features:
- No front-end sales charge
- Full investment begins working immediately
- Six-year declining contingent deferred sales charge
- Automatic conversion to Class A Shares after year eight
- Systematic withdrawal plan available
Investor Profile
- Clients opposed to front-end sales loads
- Investors who want to spread the sales charge payment over time
- Investors who are not planning to redeem shares in the short-term
Class C Shares
Minimum Investment Amount: $1,000
Maximum Investment Amount: $1,000,000
Key Features:
- No front-end sales charge
- Full investment begins working immediately
- One-year contingent deferred sales charge
- Systematic withdrawal plan available
Investor Profile
- Clients opposed to front-end sales loads
- Investors who want to spread the sales charge payment over time
- Investors in a managed account wrap program
- Investors who have a shorter or uncertain time horizon
Class M Shares
Minimum Investment Amount: $1,000
Maximum Investment Amount: $1,000,000
Key Features:
- Moderate ongoing fund expense
- Quantity discounts (breakpoints)
- Mid-load, up-front sales charge
- Load waivers available for certain groups of investors
- NAV breakpoint at $500,000
Investor Profile
- Long term investors who are not comfortable with traditional front-end loads
- Large-volume purchasers who want to take advantage of quantity discounts
Class I Shares (Institutional)
No loads. No 12b-1 Fees. Available through certain eligible intermediaries (defined benefit plans, insurance companies, wrap programs, retirement programs).
Minimum Investment: $250,000
Class Q Shares (Institutional)
No loads. 0.25% 12b-1 Fees. 0.25% trail may be paid on Class Q. Available through qualified retirement plans.
Minimum Investment: $100,000
Class R Shares (Retirement)
No loads. 0.50% 12b-1 Fees. 0.50% trail starting the 13th month. No dealer reallowance. Available through qualified retirement plans.
The ING Intermediate Bond Fund, ING Index Plus LargeCap Fund, ING Index Plus MidCap Fund, and ING Index Plus SmallCap Fund offer R shares.
Minimum Investment: $250,000
Table—Fund Features Across Share Classes
| Fund Features |
Class A |
Class B |
Class C |
Class M |
| Maximum Investment Amount |
None |
$100,000 |
$1,000,000 |
$1,000,000 |
| Minimum Initial Investment Amount |
$1,000 |
$1,000 |
$1,000 |
$1,000 |
| Pre-Authorized Investment Plan |
Yes |
Yes |
Yes |
Yes |
| Directed Dividend Reinvestments within Fund Family |
Yes |
Yes |
Yes |
Yes |
| Free Exchanges within Class |
Yes |
Yes |
Yes |
Yes |
Systematic Withdrawal
Program (SWP) |
Yes |
Yes |
Yes |
Yes |
| Letter of Intent |
Yes |
-- |
-- |
Yes |
| Rights of Accumulation |
Yes |
-- |
-- |
Yes |
| Combination Privilege |
Yes |
Yes |
Yes |
Yes |
| Reinstatement Privileges |
-- |
Yes |
Yes |
-- |
| CDSC Waiver for Death |
-- |
Yes |
Yes |
-- |
| CDSC Waiver for Retirement Plan Required Distributions |
-- |
Yes |
Yes |
-- |
| CDSC Waiver for reinvestment of dividends & capital gains distributions |
Yes |
Yes |
-- |
-- |
| Automatic Conversion to Class A |
-- |
Yes |
-- |
-- |
|