Three ING funds are bidding their subadvisor, Tradewinds Global Investors, adieu.
According to a filing, the Board of Trustees of the ING Value Choice (PAVAX), ING Global Value Choice (NAWGX) and ING International Value Choice (IVCAX) funds approved the subadvisory change to ING Investment Management Co.
Tradewind’s CIO and co-president David Iben, left in March to join hedge fund Vinik Asset Management.
The Board also approved changing the name of ING Global Value Choice Fund to ING International Value Equity Fund. In addition, the ING International Value Choice Fund has been merged into ING Global Value Choice Fund (to be renamed ING International Value Equity Fund).