ING Direct does something that is apparently good for my portfolio

[manlymatt83]

The ING DIRECT International Equity Fund (IDIOX) will be consolidated into a new offering known as the ING DIRECT Index Plus International Equity Fund on December 7th, 2007. ING DIRECT Securities, Inc is no longer accepting purchase requests for the ING DIRECT International Equity Fund, however current shareholders of this fund may redeem their shares.

What's an Index fund?

 

[mjquilly]

it's a fund that mirrors an index for it's holdings rather than having fund managers pick which stocks/bonds are in the fund.

this leads to less management fees since nobody is deciding which stocks/bonds to buy, they are just added to the fund in proportion to the index

 

[SoulAssassin]

Investment Objective
The Fund seeks to outperform the total return performance of the Morgan Stanley Capital International Europe, Australasia and Far East Index (?MSCI EAFE® Index?), while maintaining a market level of risk.