MutualFundWire.com: ING Rebranding

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Friday, March 1, 2002

ING Rebranding

As of today, the names Pilgrim Fund and Aetna Funds are no more. All retail mutual fund families have been rebranded under the ING Funds name. The same holds true for variable annuity subaccounts.

ING Group acquired both fund families when the Dutch firm purchased both ReliaStar Financial and Aetna Financial in 2000.

“As ING evolves into a more customer-focused organization, it is important that ING's key business units operate under one strong unified brand,” stated Tom McInerney, ceo of ING U.S. Financial Services. “Pilgrim and Aetna funds have deep investment talent and broad investment options -- now we can focus on building a powerful brand that resonates with investors.”

Rebranding and consolidating appears to be a trend in the mutual fund business. UBS has recently decided to phase out its regional brand names such as Brinson and Phillips & Drew; all funds at that firm will now appear under the UBS Global Asset Management brand.

Indeed, as the mutual fund marketplace continues its volatile course, consolidation of brand names may be the smart play for fund firms looking to capitalize on a well-known brand name and not create confusion as to which fund family belongs to which firm.

“Today's mutual fund marketplace is more competitive than ever, and on the heels of an extended bear market, investors have become more discerning and cautious about how they allocate their investment assets,” contended Jim Hennessy, president and ceo of ING Investments. “Mutual fund companies with a strong brand have a distinct competitive advantage. By aligning under the ING Funds brand, our organization is positioned to add that competitive advantage to an already exceptional organization.”

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