Supplement dated December 4, 2000
to Prospectus dated November 6, 2000
of ING Funds Trust
ING Large Cap Growth Fund
ING Growth & Income Fund
ING Mid Cap Growth Fund
ING Small Cap Growth Fund
ING Global Brand Names Fund
ING International Equity Fund
ING European Equity Fund
ING Tax Efficient Equity Fund
ING Focus Fund
ING Global Information Technology Fund
ING Global Communications Fund
ING Internet Fund
ING Emerging Markets Equity Fund
This Supplement is provided to update, and should be read in conjunction with,
the information provided in the Prospectus. This Supplement replaces the
Supplement dated November 20, 2000.
* On November 16, 2000, the Board of Trustees of the ING Funds Trust approved
the following reorganizations:
(i) ING Focus Fund into Pilgrim LargeCap Growth Fund;
(ii) ING Large Cap Growth Fund into Pilgrim LargeCap Growth Fund;
(iii) ING Growth & Income Fund into Pilgrim Growth and Income Fund;
(iv) ING Mid Cap Growth Fund into Pilgrim MidCap Opportunities Fund;
(v) ING Small Cap Growth Fund into Pilgrim SmallCap Opportunities Fund;
(vi) ING Emerging Markets Equity Fund into Pilgrim Emerging Countries Fund;
(vii) ING Global Brand Fund into Pilgrim Worldwide Growth Fund; and
(viii) ING International Equity Fund into Pilgrim International Fund.
The proposed reorganization of the above ING Funds into the respective Pilgrim
Funds in each case is subject to shareholder approval. If shareholder
approval is obtained, it is expected that the reorganizations will take place
in the first quarter of 2001.
* On November 16, 2000, the Board of Trustees of the ING Funds Trust approved
the following proposed reorganization:
(i) Pilgrim Global Technology Fund into ING Global Information Technology Fund.
The proposed reorganization of the above Pilgrim Fund into the ING Fund is
subject to shareholder approval. If shareholder approval is obtained, it is
expected that the reorganization will take place in the first quarter of
2001.
* ING Pilgrim Investments, Inc. ("ING Pilgrim") became sub-adviser of the ING
Small Cap Growth Fund, effective December 4, 2000. ING Pilgrim is located
at 7337 East Doubletree Ranch Road, Scottsdale, AZ 85258. ING Pilgrim is
in the business of providing investment advice to portfolios which, as of
October 31, 2000, were valued at $20 billion. Ms. Mary Lisanti has
primary responsibility for managing the Fund. Ms. Lisanti joined ING
Pilgrim in 1998. Prior to joining ING Pilgrim, Ms. Lisanti was a portfolio
manager at Strong Capital Management.
The sub-advisory fee paid by the Investment Manager to ING Pilgrim will
remain the same as the fee formerly paid by the Investment Manager to Furman
Selz Capital Management LLC. All references in the Prospectus to Furman Selz
Capital Management LLC as sub-adviser to the Fund should be disregarded.
* Effective November 1, 2000, the ING Funds ceased offering Class X shares to
new and existing investors. Any attempted purchases of Class X shares will be
rejected and the proceeds returned to the investor. It is anticipated that
existing Class X shares will be converted to Class B shares on or about the
close of business on November 17, 2000.
* In connection with 401(k) Plans that invest $1 million or more in Class A
shares of ING Funds, ING Pilgrim Securities, Inc. (ING Pilgrim Securities")
will pay dealer compensation of 1% of the purchase price of the shares to
the dealer from its own resources at the time of the initial roll-over
investment.
* ING Mutual Funds Management Co. LLC and Starwood Preferred Guests are
providing purchasers of Class C shares who purchase their shares directly
through ING Pilgrim Securities the opportunity to earn Starpoints. One
Starpoint will be earned for every $4 invested in Class C shares of the ING
Funds and purchased directly through ING Pilgrim Securities. The offer is
valid only for new purchases of the Class C shares of ING Funds by individual,
joint and custodial accounts. IRAs and other retirement accounts may not
participate in this program. A valid Starwood Preferred Guest membership
number must be provided at the time of the application. Starpoints
received through this program reduce an investor's tax basis in his shares
by 2 cents per Starpoint. ING Mutual Funds Management Co. LLC or an affiliate
thereof will purchase the Starpoints from Starwood Preferred Guest from its
own resources and not from the resources of the Funds.
To receive benefits under this program with respect to the earning and
redemption of Starpoints associated with Starwood Preferred Guest, you must
join or be a member of Starwood Preferred Guest and have paid for at least one
night's lodging at a qualifying room rate with Starwood Hotels & Resorts.
As stated above, a valid Starwood Preferred Guest membership number must be
provided at the time of application. All promotions associated with Starwood
Preferred Guest are subject to the general Terms and Conditions of the
Starwood Preferred Guest Program, which are subject to change.
If you would like more information about ING Funds Trust call 800-992-0180.
<PAGE>
Supplement dated December 4, 2000
to Prospectus dated February 28, 2000
of ING Funds Trust
ING Large Cap Growth Fund
ING Growth & Income Fund
ING Mid Cap Growth Fund
ING Small Cap Growth Fund
ING Global Brand Names Fund
ING International Equity Fund
ING European Equity Fund
ING Tax Efficient Equity Fund
ING Focus Fund
ING Global Information Technology Fund
ING Global Communications Fund
ING Internet Fund
ING Emerging Markets Equity Fund
Class I Shares
This Supplement is provided to update, and should be read in conjunction with,
the information provided in the Prospectus. This Supplement replaces the
Supplement dated November 20, 2000.
* ING Funds Trust is currently offering only two of the eighteen funds
listed in the Prospectus. These funds are: ING Large Cap Growth Fund
and ING International Equity Fund. The ING Growth & Income Fund, ING
Mid Cap Growth Fund, ING Small Cap Growth Fund, ING Global Brand
Names Fund, ING European Equity Fund, ING Tax Efficient Equity Fund,
ING Tax Efficient Equity Value Fund, ING Focus Fund, ING Global
Information Technology Fund, ING Global Communications Fund, ING
Internet Fund, ING Internet Fund II, ING Balanced Fund, ING Emerging
Markets Equity Fund, ING Global Real Estate Fund and ING Quality of
Life Fund, although listed in the Prospectus, are not being offered
as of the date of this supplement.
* The ING Internet Fund will be closed to new investors upon reaching
$500 million of assets under management. At such point, existing
shareholders will be permitted to continue to make additional
investments in the Fund.
* The third paragraph under the sub-section entitled "Portfolio Managers"
in the section of the Prospectus entitled "Management of the Funds"
concerning the management of the ING Growth & Income Fund should be
deleted and the following paragraph should be inserted as the third
paragraph:
ING Growth & Income Fund. Mr. Martin Jansen has primary
responsibility for managing the Fund and heads a five-member
team of investment professionals. Mr. Jansen has been employed
by IIMA as an investment professional since 1997 and has 20 years
of investment experience.
* On November 16, 2000, the Board of Trustees of the ING Funds Trust approved
the following reorganizations:
(i) ING Focus Fund into Pilgrim LargeCap Growth Fund;
(ii) ING Large Cap Growth Fund into Pilgrim LargeCap Growth Fund;
(iii) ING Growth & Income Fund into Pilgrim Growth and Income Fund;
(iv) ING Mid Cap Growth Fund into Pilgrim MidCap Opportunities Fund;
(v) ING Small Cap Growth Fund into Pilgrim SmallCap Opportunities Fund;
(vi) ING Emerging Markets Equity Fund into Pilgrim Emerging Countries Fund;
(vii) ING Global Brand Fund into Pilgrim Worldwide Growth Fund; and
(viii) ING International Equity Fund into Pilgrim International Fund.
The proposed reorganization of the above ING Funds into the respective Pilgrim
Funds in each case is subject to shareholder approval. If shareholder
approval is obtained, it is expected that the reorganizations will take place
in the first quarter of 2001.
* On November 16, 2000, the Board of Trustees of the ING Funds Trust approved
the following proposed reorganization:
(i) Pilgrim Global Technology Fund into ING Global Information Technology Fund.
The proposed reorganization of the above Pilgrim Fund into the ING Fund is
subject to shareholder approval. If shareholder approval is obtained, it is
expected that the reorganization will take place in the first quarter of
2001.
* ING Pilgrim Investments, Inc. ("ING Pilgrim") became sub-adviser of the ING
Small Cap Growth Fund, effective December 4, 2000. ING Pilgrim is located
at 7337 East Doubletree Ranch Road, Scottsdale, AZ 85258. ING Pilgrim is
in the business of providing investment advice to portfolios which, as of
October 31, 2000, were valued at $20 billion. Ms. Mary Lisanti has
primary responsibility for managing the Fund. Ms. Lisanti joined ING
Pilgrim in 1998. Prior to joining ING Pilgrim, Ms. Lisanti was a portfolio
manager at Strong Capital Management.
The sub-advisory fee paid by the Investment Manager to ING Pilgrim will
remain the same as the fee formerly paid by the Investment Manager to Furman
Selz Capital Management LLC. All references in the Prospectus to Furman Selz
Capital Management LLC as sub-adviser to the Fund should be disregarded.
* Effective November 1, 2000, the ING Funds ceased offering Class X shares to
new and existing investors. Any attempted purchases of Class X shares will be
rejected and the proceeds returned to the investor. It is anticipated that
existing Class X shares will be converted to Class B shares on or about the
close of business on November 17, 2000.
* In connection with 401(k) Plans that invest $1 million or more in Class A
shares of ING Funds, ING Pilgrim Securities, Inc. (ING Pilgrim Securities")
will pay dealer compensation of 1% of the purchase price of the shares to
the dealer from its own resources at the time of the initial roll-over
investment.
* ING Mutual Funds Management Co. LLC and Starwood Preferred Guests are
providing purchasers of Class C shares who purchase their shares directly
through ING Pilgrim Securities the opportunity to earn Starpoints. One
Starpoint will be earned for every $4 invested in Class C shares of the ING
Funds and purchased directly through ING Pilgrim Securities. The offer is
valid only for new purchases of the Class C shares of ING Funds by individual,
joint and custodial accounts. IRAs and other retirement accounts may not
participate in this program. A valid Starwood Preferred Guest membership
number must be provided at the time of the application. Starpoints
received through this program reduce an investor's tax basis in his shares
by 2 cents per Starpoint. ING Mutual Funds Management Co. LLC or an affiliate
thereof will purchase the Starpoints from Starwood Preferred Guest from its
own resources and not from the resources of the Funds.
To receive benefits under this program with respect to the earning and
redemption of Starpoints associated with Starwood Preferred Guest, you must
join or be a member of Starwood Preferred Guest and have paid for at least one
night's lodging at a qualifying room rate with Starwood Hotels & Resorts.
As stated above, a valid Starwood Preferred Guest membership number must be
provided at the time of application. All promotions associated with Starwood
Preferred Guest are subject to the general Terms and Conditions of the
Starwood Preferred Guest Program, which are subject to change.
If you would like more information about ING Funds Trust call 800-992-0180.
