It is the first time that three distinct global managers have formed an alliance for the distribution of a mutual fund product in the Canadian marketplace.
Available through financial advisors, the Ensemble Portfolios, managed by ING Funds, consist of six all-equity portfolios in a fund-of-funds structure. Each portfolio is uniquely constructed and draws on the extensive equity fund offerings of AIM, Fidelity and ING.
According to Doug Paul, Managing Director of ING Funds, the three global investment firms have combined their efforts to create a simple and integrated solution that meets the needs of investors. By joining forces, we were able to skillfully create portfolios that will provide growth potential while reducing exposure to risk through market, sector, style and geographic diversification in a number of leading equity funds. What we are offering to Canadian investors is a simple investment solution that will draw on the global investment knowledge and expertise of three leading investment management firms. Altogether, the three firms managed, at the end of the third quarter of last year, more than $2 trillion on behalf of investors globally.
According to Paul, the Ensemble Portfolios also constitute an affordable wrap program since investors can participate in these portfolios for as little as of $5,000 initially and $100 for subsequent investments.
Each of the Ensemble portfolios are constructed to meet the requirements of three distinct risk/return investor profiles (conservative, moderate and aggressive) and are available for both RSP and non-RSP accounts. The six portfolios will offer market, sector, style and geographical diversification and are designed to provide long-term growth while reducing potential exposure to risk.
AIM Funds Management is one of Canada's largest mutual fund companies with over $35 billion of assets under management in Canada, while its parent company AMVESCAP manages over $600 billion worldwide. AIM offers both AIM and Trimark mutual funds. Fidelity Investments, the world's largest mutual fund company, serves 15 million investors and manages $925 billion in mutual fund assets. ING Group is one of the world's largest financial institutions employing nearly 100,000 people in more than 65 countries. It manages more than $550 billion on behalf of institutions, corporate and individual clients.
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ING to offer diversified all-equity portfolios comprised of AIM, Fidelity and ING Funds
February 15, 2001