Streetwise Funds give Quebeckers a reason to start investing for the long
term

ING DIRECT's balanced, index-based Streetwise Funds launch in Quebec and the territories

TORONTO, Aug. 9 /CNW/ - Mutual funds are thought to be one of the most common retirement savings options, yet many Canadians, specifically two-thirds of those living in the province of Quebec, don't own mutual funds, according to a recent Angus Reid Public Opinion survey. Is this because mutual funds are perceived by some to be complicated and expensive for the average Canadian? ING DIRECT created The Streetwise Funds, to make investing in mutual funds simple and low cost. The Streetwise Funds are diversified, balanced, index-based funds which are now available to all Canadians in French and English.

"We're thrilled to bring The Streetwise Funds to Quebec, challenging the status quo and offering competitive index funds that remain true to our goal of giving the power of saving to all Canadians," said Peter Aceto, President & CEO at ING DIRECT Canada. "Since The Streetwise Funds launched in 2008, many of our Clients have asked us to bring them to Quebec, and we listened. The Streetwise Funds are now available via our website, mobile banking applications and call centre to service both our French and English-speaking Clients' long term investment needs."

The Streetwise Funds offer a balance of equities and bonds across four major stock and bond market indexes including the: S&P/TSX 60 - Canadian Equities, S&P 500 - US Equities, DEX- Canadian Bonds and MSCI EAFE - International Equities. Broad diversification helps reduce the chances that one single stock, bond or sector can have a significant, negative impact on a portfolio.

Indexing is a proven investment strategy which is gaining popularity because it is straightforward and reduces costs. Eighty percent of active fund managers don't do any better than the index consistently over the long term. Rather than picking individual stocks and hoping those companies are winners, The Streetwise Funds give investors exposure to thousands of the largest companies in North America and around the world. For do-it-yourself investors who want to keep it simple, this exposure at a low cost with no sales charges or commissions, and built in rebalancing offers great value. This means that the less investors pay in fees, the more they have left to grow in their funds.

Each of The Streetwise Funds uses different asset allocations to match an investor's profile. The Streetwise Balanced Fund has a fixed asset allocation with 60% stocks and 40% bonds. For investors who are looking for more income, The Streetwise Balanced Income Fund has an allocation with 30% stocks and 70% bonds, and The Streetwise Balanced Growth Fund has an allocation of 75% stocks and 25% bonds.

Aceto said, "Canadians pay the highest fund fees in the world - up to 2.6% or more for actively managed Canadian Balanced Funds, yet history has shown that most active fund managers cannot beat the index. Lower fees mean more money stays invested to compound and grow, giving investors the potential to earn much more over time. Combine this with the power of dollar cost averaging, and Canadians have a smart and simple investment option that's easy to access and manage."

The Streetwise Funds have a 1% MER vs. the average Canadian balanced fund at 2.6%. Saving on fees can really add up over the long term. For example: a $10,000 investment in a fund with a 1% MER saves approximately $170 in fees per year over the average balanced fund. Factor in growth at 7% per year, and over 10 years investors would save approximately $2,600 in fees.

Canadians can save money by investing in The Streetwise Funds, any time, anywhere via ING DIRECT's mobile banking platforms. Investors can buy and sell the Streetwise Funds using their BlackBerrys, iPhones or iPADs or via ING DIRECT's mobile web site m.ingdirect.ca.

Visit www.streetwisefund.ca for more information.

Angus Reid Public Opinion - Survey Methodology - From May 7 to May 10, 2010, Angus Reid Public Opinion conducted an online survey among 1,005 randomly selected Canadian adults who are Angus Reid Forum panelists. The margin of error-which measures sampling variability-is +/- 3.1%, 19 times out of 20. The results have been statistically weighted according to the most current education, age, gender and region Census data to ensure samples representative of the entire adult population of Canada.

About ING DIRECT

ING DIRECT is Canada's leading direct bank with over 1.6 million Clients and more than $29 billion in total assets. ING DIRECT gives the power of saving to all Canadians by offering high-value, simple products such as high interest savings accounts with no fees or service charges, and low rates on mortgages. Low cost, index based mutual funds are sold through ING Direct Funds Limited. ING DIRECT has been operating in Canada since 1997, and paid more than $4 billion in interest to Clients. ING DIRECT is open for banking 24 hours a day, 7 days a week, at ingdirect.ca, on mobile devices at m.ingdirect.ca or by calling 1-800 ING DIRECT (1-800-464-3473).

The Streetwise Funds are offered by ING Direct Asset Management Limited, a wholly owned subsidiary of ING Bank of Canada. ING Direct Funds Limited is the principal distributor of The Streetwise Funds.

Commissions, trailing commissions and management fees and expenses all may be associated with mutual fund investments. Please read the prospectus before investing. Mutual funds are not guaranteed, unit values change frequently and past performance may not be repeated. The indicated rate of return is the historical annual compounded total return including changes in unit value and reinvestment of all distributions and does not take into account sales, redemption, distribution or optional charges or taxes payable that would reduce returns. Mutual funds are not guaranteed. Values change frequently and past performance may not be repeated.

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Style note to Editors: ING DIRECT is always capitalized and never referred to as ING.

For further information: Media Relations Contacts: Lisa Naccarato, [email protected], or call 416-758-5072, 416-885-0348; Lynnette Visaya, [email protected], or call 416-758-5544, 416-509-4574