ING Investments will launch a bond feeder fund, the ING American Funds Bond Portfolio, organized in a master/feeder structure, Dow Jones reports.

The fund will invest in a mutual fund, which in turn, acting as the master fund to the underlying feeder fund, will buy investment securities. With a goal of maximizing income and preserving capital, the fund will put at least 80% of its assets in bonds, with at least 65% of its assets in investment-grade debt and up to 35% of its assets in junk bonds.

The four managers of the master fund are Abner D. Goldstine, John H. Smet, David C. Barclay and Mark H. Dalzell.

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