ING Direct is making its index-based Streetwise Funds available to investors in Quebec and the territories, the online bank said Monday.

In announcing the launch, ING Direct drew attention to a recent Angus Reid Public Opinion survey that revealed two-thirds of those living in Quebec don’t own mutual funds.

“We’re thrilled to bring the Streetwise Funds to Quebec, challenging the status quo and offering competitive index funds that remain true to our goal of giving the power of saving to all Canadians,” says Peter Aceto, president & CEO at ING Direct Canada.

“Since the Streetwise Funds launched in 2008, many of our clients have asked us to bring them to Quebec, and we listened. The Streetwise Funds are now available via our website, mobile banking applications and call centre to service both our French and English-speaking clients’ long term investment needs.”

The Streetwise Funds offer a balance of equities and bonds across four major stock and bond market indexes including the: S&P/TSX 60 – Canadian Equities; S&P 500 – US Equities; DEX- Canadian Bonds; and MSCI EAFE – International Equities.

Each of the Streetwise Funds uses different asset allocations to match an investor’s profile. Streetwise Balanced Fund has a fixed asset allocation with 60% stocks and 40% bonds. For investors who are looking for more income, Streetwise Balanced Income Fund has an allocation with 30% stocks and 70% bonds, and Streetwise Balanced Growth Fund has an allocation of 75% stocks and 25% bonds.

The Streetwise Funds have a 1% MER vs. the average Canadian balanced fund at 2.6%.

IE