The retail mutual fund arm of ING announced the launch of Principal Protection Fund (PPF) X, a fund with a five-year guarantee, on Monday.

Drivers behind ING's tenth PPF include continued investor interest in wealth preservation, market uncertainty, and "comfort that comes with [the] guarantee," said Cindy Schaus, ING spokeswoman.

Total assets in ING's nine other Principal Protection funds were more than $6.9 billion as of March 31, 2004.

ING Investments hired ING Groep subsidiary Aeltus Investment Management as subadvisor for the fund. Mary Ann Fernandez, senior vice president and portfolio strategist at Aeltus, will be the head manager of the fund. Fernandez also manages the other nine PP funds. Hugh T. Whelan and Douglas E. Cote¢, comanage equities in the fund, and James B. Kauffmann heads a team managing the fund's fixed income holdings.

ING Investments managed $34.8 billion in total assets as of March 31, 2004. 

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