SUPPLEMENT DATED JANUARY 23, 2006
 TO THE CURRENT CLASS A, CLASS B, CLASS C AND CLASS M PROSPECTUSES AND RELATED
STATEMENTS OF ADDITIONAL INFORMATION ("SAIS") (EXCLUDING ING INSTITUTIONAL PRIME
                             MONEY MARKET FUND) OF

         ING EQUITY TRUST, ING FUNDS TRUST, ING INVESTMENT FUNDS, INC.,
                    ING MAYFLOWER TRUST AND ING MUTUAL FUNDS
                               (THE "REGISTRANTS")

Effective immediately the Prospectuses and SAIs for the Registrants listed above
are amended as follows:

PROSPECTUSES

     1.   The heading entitled "Reduced Sales Charges" in the section entitled
          "Shareholder Guide - Choosing a Share Class - Sales Charge Reductions
          and Waivers" is amended as follows:

               REDUCED OR WAIVED FRONT-END SALES CHARGES

     2.   The following is added to the third bullet point under the heading now
          named "Reduced or Waived Front-End Sales Charges":

               In addition, certain investors may be eligible for special
               purchases of Class A or Class M shares at NAV. This may be done
               by:

                    REINSTATEMENT PRIVILEGE - If you sell Class A or Class M
                    shares of a Fund (or shares of other funds managed by the
                    Adviser) and reinvest any of the proceeds in Class A or
                    Class M shares of another ING Fund within 90 days. For
                    additional information regarding the reinstatement
                    privilege, contact a Shareholder Services Representative, or
                    see the SAI; or

                    PURCHASES BY CERTAIN ACCOUNTS - Class A or Class M shares
                    may be purchased at NAV by certain fee-based programs
                    offered through selected registered investment advisers,
                    broker dealers and other financial intermediaries.

     3.   Effective immediately, the section entitled "Shareholder Guide -
          Choosing A Share Class - Sales Charge Waivers" is hereby deleted in
          its entirety.

     4.   The following bullet point and sentence is added to the section
          entitled "Shareholder Guide - How to Purchase Shares - Purchase of
          Shares":

          -    Certain omnibus accounts (accounts of investors who purchase fund
               shares through certain financial intermediaries where the share
               holdings are held in the name of the financial intermediary):
               $250

               There are no investment minimums for any subsequent purchases.

SAIS

     1.   The fifth paragraph (sixth paragraph for ING Mutual Funds and ING
          Mayflower Trust) of the section entitled "Purchase and Redemption
          of Shares - Special Purchases at Net Asset Value - Class A and Class M
          Shares" is deleted in its entirety.

               PLEASE RETAIN THIS SUPPLEMENT FOR FUTURE REFERENCE