Supplement dated November 20, 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 6, 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.
* 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 November 20, 2000
to Prospectus dated November 6, 2000
of ING Funds Trust
ING Intermediate Bond Fund
ING High Yield Bond Fund
ING International Bond Fund
ING National Tax-Exempt Bond Fund
Class A, B and C 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 6, 2000.
* On November 16, 2000, the Board of Trustees of the ING Funds Trust approved
the reorganization of ING International Bond Fund into Pilgrim Strategic
Income Fund. The proposed reorganization of the above ING Fund into the
Pilgrim 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.
* 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.
* 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.
* 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 November 20, 2000
to Prospectus dated November 6, 2000
of ING Funds Trust
ING Intermediate Bond Fund
ING High Yield Bond Fund
ING International Bond Fund
ING Mortgage Income 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 October 26, 2000.
* ING Funds Trust is currently offering only three of the four funds listed in
the Prospectus. These funds are: ING Intermediate Bond Fund, ING High Yield
Bond Fund and ING International Bond Fund. The ING Mortgage Income Fund,
although listed in the Prospectus, is not being offered as of the date of
this supplement.
* On November 16, 2000, the Board of Trustees of the ING Funds Trust approved
the reorganization of ING International Bond Fund into Pilgrim Strategic
Income Fund. The proposed reorganization of the above ING Fund into the
Pilgrim 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.
* 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.
* 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.
* Effective November 1, 2000, ING Pilgrim Securities, Inc. ("ING Pilgrim
Securities") became the named distributor of ING Funds, and the distribution
agreement between ING Funds and ING Funds Distributor, Inc. terminated.
ING Pilgrim Securities is located at 7337 East Doubletree Ranch Road,
Scottsdale, Arizona 85258. Accordingly, commencing on such date shares
of the ING Funds may be sold by broker-dealers who have entered into dealer
agreements with ING Pilgrim Securities, and dealer concessions and trails
payable to a broker-dealer who sells Class A, Class B and Class C shares
of the ING Funds will be paid pursuant to terms of the dealer agreement
between such broker-dealer and ING Pilgrim Securities.
* Effective November 1, 2000, Brown Brothers Harriman & Co. became the custodian
to the global and international ING Funds. State Street Bank & Trust
Company will remain the custodian to the domestic ING Funds.
If you would like more information about ING Funds Trust call 800-992-0180.
