The 3-star rated ING International Value Fund is unloading two subadvisers at the end of March.
According to a regulatory filing, the fund’s Board of Trustees earlier this month approved the removal of Brandes Investment Partners and del Rey Global Investors as subadvisers effective March 26. Brandes and del Rey each currently manage approximately 25% of the Fund’s assets, respectively, with the remainder of the fund’s assets currently being managed by ING Investment Management Co., which will take over as the sole subadviser on April 11.
In addition, the fund’s board of trustees also approved a reorganization of the fund into ING International Value Equity Fund, a 4-star rated fund, effective April 11.
A spokesperson for the firm declined to comment on the subadvisor swap.