WTFC Wintrust Financial Corporation

Filed by ING Partners, Inc. (SEC File Nos.: 333-32575; 811-08319) and ING Variable Funds (SEC File Nos.: 002-51739; 811-02514) pursuant to Rule 425 under the Securities Act of 1933, as amended, and deemed filed pursuant to Rule 14a-12 under the Securities Exchange Act of 1934, as amended.

ING UBS U.S. Large Cap Equity Portfolio Update

The Board of Directors (the “Board”) of ING UBS U.S. Large Cap Equity Portfolio (the “Portfolio”) approved a reorganization into ING Growth and Income Portfolio (together with the Portfolio, the “Portfolios”).  The approval of shareholders of the Portfolio is required before this reorganization may take place.

·                   Shareholders of another ING Portfolio, ING Thornburg Value Portfolio, also are being asked to approve the merger of their Portfolio with the Portfolio.  If those shareholders approve that other merger, it also would occur on or around March 23, 2013.

The performance is set out below.

For Internal Use Only — Not To Be Shared With The Public.

·                   What are the Portfolios’ expenses?

(1)           Expense ratios have been adjusted to reflect current contractual rates.

(2)           The adviser is contractually obligated to limit expenses to 1.25%,  0.75% and 1.00% for Class ADV, I and Class S shares, respectively, through May 1, 2013. There is no guarantee this obligation will continue after May 1, 2013 and the obligation will only continue if the adviser elects to renew it. Any fees waived pursuant to this obligation are not eligible for recoupment. This obligation does not extend to interest, taxes, brokerage commissions, Acquired Fund Fees and Expenses, and extraordinary expenses.

(1)   The distributor is contractually obligated to waive 0.05% for Class ADV and 0.10% for Class S2 of the distribution fee through May 1, 2013. There is no guarantee that the distribution fee waiver will continue after May 1, 2013. The distribution fee waiver will continue only if the distributor elects to renew it.

For Internal Use Only

Not for Inspection by or Distribution to the General Public.

The foregoing is not an offer to sell, nor a solicitation of an offer to buy, shares of any fund, nor is it a solicitation of any proxy. For information regarding the Portfolio or ING Growth and Income Portfolio  please call ING Funds toll free at 1-800-992-0180. To receive a free copy of a Proxy Statement/Prospectus relating to a proposed merger (once a registration statement relating to the proposed merger has been filed with the SEC and becomes effective) please call ING Funds toll free at 1-800-992-0180. The Proxy Statement/Prospectus (when available) will contain important information about fund objectives, strategies, fees, expenses and risk considerations, and therefore you are advised to read it when and if it becomes available. The Proxy Statement/Prospectus (when available), shareholder reports and other information are or will also be available for free on the SEC’s website (www.sec.gov). Please read any Proxy Statement/Prospectus carefully before making any decision to invest or to approve any merger.

Contents of this communication may contain information regarding past performance, market opinions, competitor data, projections, forecasts and other forward-looking statements that cannot be shared with clients, prospective clients or current investors of ING investment products.  The information presented has been obtained from sources ING Investment Management (“ING IM”) deems to be reliable, however, this data is subject to unintentional errors, omissions and changes prior to distribution without notice.  This information is provided to ING IM employees for internal or educational use only and cannot be used as sales or marketing material, nor can it be distributed outside of the firm.  Please only use compliance-approved marketing materials with clients and prospects.  These materials contain compliant sales language, appropriate risk disclosures and other relevant disclaimers that provide a sound basis for evaluating our investment products and services.  This information cannot be reproduced in whole or in part in any manner without the prior permission of an ING IM Compliance Officer.

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