Voya MUTUAL FUNDS 425 Business combination disclosure

Filed by: ING Mutual Funds (SEC File Nos.: 33-56094; 811-07428) and ING Equity Trust (SEC File Nos.: 333-56881; 811-08817) pursuant to Rule 425 under the Securities Act of 1933, as amended.

ING Email Template

Wholesaler Information: Variable

Dear Mr/Mrs Financial Advisor –

Effective November 13, 2012, ING Investments, LLC, will be removing Tradewinds Global Investors, LLC as the subadvisor for the three funds listed below following the departure of co-founder and CIO David Iben and several other investment personnel.

The impacted funds are:

·ING Value Choice Fund (“Value Choice Fund”)

·ING Global Value Choice Fund (“Global Value Choice Fund”)

·ING International Value Choice Fund (“International Value Choice Fund”)

ING Investment Management Co. LLC (“ING IM”) will be appointed sub-advisor and manage the Funds through March 23, 2013.  At that time, pending a positive shareholder vote, these funds will be merged as detailed below.

·ING Value Choice Fund

·Pending shareholder approval, reorganization of ING Value Choice Fund into ING Large Cap Value Fund, on or about March 23, 2013

·Portfolio Managers Chris Corapi and Bob Kloss

·ING Global Value Choice & ING International Value Choice Fund

·ING Global Value Choice will have a name and strategy change to “ING International Value Equity Fund,” effective November 30, 2012

·Pending shareholder approval, reorganization of ING International Value Choice Fund into ING International Value Equity Fund (formerly ING Global Value Choice Fund), effective March 23, 2012

·Martin Jansen, David Rabinowitz and Joseph Vultaggio will manage the Funds

Investors will experience a reduction in Fund expense limitation agreements, effective November 30, 2012.  For example, the proposed Class A expense limits are set out below:

·ING Value Choice - 1.40% reduced to 1.25%

·ING Global Value Choice – 1.50% reduced to 1.35%

·ING International Value Choice – 1.60% reduced to 1.35%

For more information, please contact your ING Wholesaler.

Thank you,

ING Wholesaler

For financial professional use only. Not for inspection by, distribution or quotation to, the general public.

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