SECURITIES ACT FILE NO. 33-56094


                              ING CONVERTIBLE FUND

                          SUPPLEMENT DATED MAY 7, 2002
                                 TO THE CLASS Q
            ING DOMESTIC EQUITY FUNDS PROSPECTUS DATED MARCH 1, 2002

              CHANGE IN PORTFOLIO MANAGER FOR ING CONVERTIBLE FUND

     Effective  April 29, 2002,  the  following  language  replaces the language
contained in the "Management of the Funds - Convertible Fund" section on page 35
of the prospectus:

The following  individuals share responsibility for the day-to-day management of
the Convertible Fund:

          Edwin Schriver,  Senior Vice President of ING, has served as Portfolio
     Manager of Convertible  Fund since April 2002.  Mr.  Schriver has served as
     Senior Vice  President  and  Portfolio  Manager of ING since  October 2000.
     Prior to joining  ING,  Mr.  Schriver  was a Senior High Yield  Analyst for
     Dreyfus  Corporation from 1998 to 1999. From 1996 to 1997, Mr. Schriver was
     the President of Cresent City Research, an investment research and software
     firm.  Prior to 1996,  Mr.  Schriver  was  President  of an SEC  registered
     investment adviser and held various senior portfolio  management  positions
     with insurance  companies,  pension funds, trust accounts,  and savings and
     loans  managing high grade and high yield bond,  equity,  convertible,  and
     risk arbitrage portfolios.

          Andy  Mitchell,  Vice  President  of ING,  has served as  Co-Portfolio
     Manager of Convertible  Fund since April 2002.  Mr.  Mitchell has served as
     Vice  President  and  Portfolio  Manager of ING since  July 2000.  Prior to
     joining ING in 2000, Mr.  Mitchell was a Senior Credit Analyst with Katonah
     Capital  and  from  March  1998 to  March  2000,  Mr.  Mitchell  was a Vice
     President and Senior High Yield Analyst at Merrill Lynch Asset  Management.
     From March 1994 to March 1998,  Mr.  Mitchell was Assistant  Vice President
     and Senior High Yield Analyst at Schroder Capital Management.

          Anuradha  Sahai,  Vice President of ING, has served as a member of the
     portfolio  management team that manages  Convertible Fund since April 2002.
     Ms. Sahai has held several analyst  positions with ING since 1997. Prior to
     joining  ING,  Ms.  Sahai was an Auditor  with GE where she assisted in the
     integration of insurance  company  acquisitions from 1996 to 1997. Prior to
     1997,  Ms. Sahai served as a research  analyst in India with a London-based
     institutional brokerage firm.

          Dr.  Michael  Matusewicz  has  served  as a  member  of the  portfolio
     management team that manages  Convertible  Fund since April 2002.  Prior to
     joining  ING in  February  2002,  Dr.  Matusewicz  served  as a  consulting
     scientist for Ingenuity Systems,  Inc., a scientific  knowledge  management
     company  from  February  2001  to  November  2001.  Dr.  Matusewicz  was  a
     consulting Senior Policy Analyst for the Office of Occupational  Safety and
     Health Policy,  U.S.  Department of Energy, from 1998 to 1999. From 1996 to
     1998, Dr.  Matusewicz was in sales. From 1991 to 1996, Dr. Matusewicz was a
     consulting  Project  Manager  for  the  Safety,  Health  and  Environmental
     Management Division, U.S. Environmental Protection Agency.


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