ING plans for new ING Global Strategic Income Fund, registers shares

By Toni Weeks

San Diego, March 26 - The ING Global Strategic Income Fund registered shares in an N-2 filing with the Securities and Exchange Commission.

The newly organized, non-diversified closed-end management investment company will seek to provide current income with capital appreciation as a secondary objective by investing at least 80% of its net assets, plus the proceeds from any borrowings, in global fixed-income securities and derivatives linked to such securities.

Under normal market conditions, up to 15% of the fund's managed assets may be invested in commercial and residential mortgage-related fixed-income securities, asset-backed securities and other securitized products. It will also invest at least 40% of its assets in non-U.S. countries or currencies or derivatives linked to such exposures.

Michael Mata will serve as the portfolio manager.

The fund registered 50,000 shares at $20 per share for a total offering of $1 million. There will be a 45-day greenshoe.

Shareholder and management fees and annual operating expenses have not yet been determined.

The fund intends to apply for listing on the New York Stock Exchange.

Scottsdale, Ariz.-based ING Investments, LLC will serve as the fund's investment adviser.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.