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Thread: ING Streetwise Mutual Funds

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    Veteran Member xxambyrrxx's Avatar
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    Default ING Streetwise Mutual Funds

    So I a looking to start investing some money and I really have no idea. I have read some of the websites suggested in other threads for beginner investors and have learned a bit but still don't have a firm grasp on everything.

    I already have GICs and a savings account at ING Direct and I was looking at their mutual funds. I am not sure if this is a good idea or not to put all of my eggs in one basket so to speak. Also I'm not sure what impact all of the US economy disaster stuff will have on me here in Canada.

    So here is the fund suggested to me based on their questionnaire: http://www.ingdirect.ca/en/save-inve...ced/index.html

    What do you think?

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    Default Re: ING Streetwise Mutual Funds

    I share your wariness about 'putting all of your eggs in ING's basket'. ING is actually a Dutch financial house, with all sorts of operations in the insurance / commercial paper / investment banking industry on a global scale. With the Belgian financial house Fortis going bankrupt this week, there is indeed a possibility that other European banks may soon follow. If that were to happen to ING, I have absolutely no idea how the Dutch gov't and/or the EU would treat 'foreign' depositors (i.e. Americans and Canadians) in any bailout package.

    At least for US investors in ING 'deposit accounts' i.e. savings accounts and CD's with ING's American division, the American FDIC will provide insurance against losses of principal. But there would be no such insurance protection for mutual fund / equity investments/

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