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SECURITIES AND EXCHANGE COMMISSION
REGISTERED MANAGEMENT INVESTMENT COMPANIES
7337 E. Doubletree Ranch Rd., Scottsdale, AZ | 85258 | |
(Address of principal executive offices) | (Zip code) |
(Name and address of agent for service)
Date of fiscal year end: | October 31 | |||||||
Date of reporting period: | November 1, 2010 to October 31, 2011 |
Global and International Funds | ||
n | ING Diversified International Fund | |
n | ING Emerging Countries Fund | |
n | ING Emerging Markets Equity Fund | |
n | ING Global Bond Fund | |
n | ING Global Equity Dividend Fund | |
n | ING Global Natural Resources Fund | |
n | ING Global Opportunities Fund | |
n | ING Global Real Estate Fund | |
n | ING Global Value Choice Fund | |
n | ING Greater China Fund | |
n | ING Index Plus International Equity Fund | |
n | ING International Capital Appreciation Fund | |
n | ING International Core Fund | |
n | ING International Growth Fund | |
n | ING International Real Estate Fund | |
n | ING International SmallCap Multi-Manager Fund | |
n | ING International Value Choice Fund | |
n | ING International Value Fund | |
n | ING Russia Fund |
This report is submitted for general information to shareholders of the ING Funds. It is not authorized for distribution to prospective shareholders unless accompanied or preceded by a prospectus which includes details regarding the funds’ investment objectives, risks, charges, expenses and other information. This information should be read carefully. |
MUTUAL FUNDS |
President’s Letter | 2 | |||||
Market Perspective | 3 | |||||
Portfolio Managers’ Reports | 6 | |||||
Shareholder Expense Examples | 45 | |||||
Report of Independent Registered Public Accounting Firm | 49 | |||||
Statements of Assets and Liabilities | 50 | |||||
Statements of Operations | 60 | |||||
Statements of Changes in Net Assets | 65 | |||||
Financial Highlights | 74 | |||||
Notes to Financial Statements | 86 | |||||
Summary Portfolios of Investments | 116 | |||||
Tax Information | 189 | |||||
Shareholder Meeting Information | 191 | |||||
Trustee and Officer Information | 193 | |||||
Advisory Contract Approval Discussion | 197 |
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Euro zone — continued uncertainty
President and Chief Executive Officer
ING Funds
December 20, 2011
The views expressed in the President’s Letter reflect those of the President as of the date of the letter. Any such views are subject to change at any time based upon market or other conditions and ING Funds disclaims any responsibility to update such views. These views may not be relied on as investment advice and because investment decisions for an ING Fund are based on numerous factors, may not be relied on as an indication of investment intent on behalf of any ING Fund. Reference to specific company securities should not be construed as recommendations or investment advice.
Index | Description | |||||
---|---|---|---|---|---|---|
Barclays Capital Global Aggregate Index | Provides a broad-based measure of the global investment-grade fixed-rate debt markets. | |||||
Barclays Capital High Yield Bond — 2% Issuer Constrained Composite Index | An unmanaged index that includes all fixed income securities having a maximum quality rating of Ba1, a minimum amount outstanding of $150 million, and at least one year to maturity. | |||||
Barclays Capital U.S. Aggregate Bond Index | An unmanaged index of publicly issued investment grade U.S. Government, mortgage-backed, asset-backed and corporate debt securities. | |||||
MSCI All Countries Golden Dragon IndexSM | A broad-based, unmanaged index of common stocks traded in China, Hong Kong and Taiwan. It is an aggregate of the MSCI Hong Kong Index, the MSCI China Free Index and the MSCI Taiwan Index. | |||||
MSCI All Country World (ex-US) IndexSM | A free float-adjusted market capitalization index that is designed to measure equity market performance in global developed and emerging markets, excluding the U.S. It includes the reinvestment of dividends net of withholding taxes, but does not reflect fees, brokerage commissions or other expenses of investing. | |||||
MSCI All Country World IndexSM | A free-float adjusted market capitalization index that is designed to measure equity market performance in the global developed and emerging markets. | |||||
MSCI Emerging Markets IndexSM | An unmanaged index that measures the performance of securities listed on exchanges in developing nations throughout the world. It includes the reinvestment of dividends and distributions net of withholding taxes, but does not reflect fees, brokerage commissions or other expenses of investing. | |||||
MSCI Europe ex UK® Index | A free float-adjusted market capitalization index that is designed to measure developed market equity performance in Europe, excluding the UK. | |||||
MSCI Europe, Australasia and Far East® (“MSCI EAFE”) Index | An unmanaged index that measures the performance of securities listed on exchanges in Europe, Australasia and the Far East. It includes the reinvestment of dividends net of withholding taxes, but does not reflect fees, brokerage commissions or other expenses of investing. | |||||
MSCI Japan® Index | A free float-adjusted market capitalization index that is designed to measure developed market equity performance in Japan. | |||||
MSCI Russia 10/40 Index | A free float-adjusted market capitalization weighted index that is designed to measure the equity market performance of the Russian market taking into account the Undertakings for Collective Investment in Transferable Securities (UCITS III) directive which constrains the weight of any single group entity, as defined therein, at 10% of a fund’s total assets and the sum of the weights of all group entities representing more than 5% of the fund at 40% of the fund’s total assets. | |||||
MSCI UK® Index | A free float-adjusted market capitalization index that is designed to measure developed market equity performance in the UK. | |||||
MSCI World IndexSM | An unmanaged index that measures the performance of over 1,400 securities listed on exchanges in the U.S., Europe, Canada, Australia, New Zealand and the Far East. | |||||
Russia Trading System Index | A capitalization-weighted index that is calculated in U.S. dollars. The index tracks the performance of Russia’s most active stocks traded on the RTS. The index is operated by the National Association of Participants in the Securities Markets, a non-profit body. | |||||
S&P 500® Index | An unmanaged index that measures the performance of securities of approximately 500 large-capitalization companies whose securities are traded on major U.S. stock markets. |
Index | Description | |||||
---|---|---|---|---|---|---|
S&P Developed ex-US Property Index | An unmanaged float-adjusted index which defines and measures the investable universe of publicly traded property companies domiciled in developed countries, outside of the United States, that derive more than half of their revenue from property-related activities, such as property ownership, management, development, rental and investment. It includes the reinvestment of dividends but is gross of withholding taxes on dividends and does not reflect fees, brokerage commissions or other expenses of investing. | |||||
S&P Developed ex-US SmallCap Index | An unmanaged float-adjusted index which captures the bottom 15% of companies in the developed markets, based on the cumulative market capitalization of each country, excluding the United States, within the S&P Global Broad Market Index, which covers all publicly listed equities in 47 countries with a float-adjusted market capitalization of US$100 million or greater and a minimum annual trading liquidity of US$50 million. | |||||
S&P Developed Property Index | An unmanaged float-adjusted index which defines and measures the investable universe of publicly traded property companies domiciled in developed countries that derive more than half of their revenue from property-related activities, such as property ownership, management, development, rental and investment. | |||||
S&P Euro-Pacific Asia Composite SmallCap Index | An unmanaged float-adjusted index which captures the bottom 15% of companies in the developed European and Pacific markets, based on the cumulative market capitalization of each country, within the S&P Global Broad Market Index, which covers all publicly listed equities in 47 countries with a float adjusted market capitalization of US$100 million or greater and a minimum annual trading liquidity of US $50 million. | |||||
S&P North American Natural Resources Sector Index | An unmanaged index and a market-capitalization weighted index of stocks designed to measure the performance of companies in the natural resources sector, which includes energy, precious metals, timber and other sub-sectors. Each sector index is a modified-capitalization weighted index, the constituents of which are selected according to objective screening criteria. The weight of a particular stock in each Sector Index is capped at a cap level determined on a sector-by-sector basis. | |||||
S&P/Case-Shiller 20-City Composite Home Price Index | A composite index of the home price index for the top 20 Metropolitan Statistical Areas in the United States. The index is published monthly by Standard & Poor’s. |
ING DIVERSIFIED INTERNATIONAL FUND | PORTFOLIO MANAGERS’ REPORT |
Target Allocations as of October 31, 2011 (as a percentage of net assets) | ||||||||||
Emerging Markets | 15 | % | ||||||||
International Core | 30 | % | ||||||||
International Growth | 20 | % | ||||||||
International Real Estate | 5 | % | ||||||||
International Small Cap Multi-Manager | 10 | % | ||||||||
International Value | 20 | % | ||||||||
Portfolio holdings are subject to change daily |
(1) | The members of the Asset Allocation Committee are: William A. Evans, Paul Zemsky and Heather Hackett. |
PORTFOLIO MANAGERS’ REPORT | ING DIVERSIFIED INTERNATIONAL FUND |
Average Annual Total Returns for the Periods Ended October 31, 2011 | ||||||||||||||||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
1 Year | 5 Year | Since Inception of Classes A, B, C and I December 21, 2005 | Since Inception of Class O June 4, 2008 | Since Inception of Class R December 12, 2006 | Since Inception of Class W February 12, 2008 | |||||||||||||||||||||||
Including Sales Charge: | ||||||||||||||||||||||||||||
Class A(1) | (12.10 | )% | (3.65 | )% | (0.62 | )% | — | — | — | |||||||||||||||||||
Class B(2) | (12.04 | )% | (3.56 | )% | (0.50 | )% | — | — | — | |||||||||||||||||||
Class C(3) | (8.43 | )% | (3.25 | )% | (0.38 | )% | — | — | — | |||||||||||||||||||
Class I | (6.46 | )% | (2.28 | )% | 0.61 | % | — | — | — | |||||||||||||||||||
Class O | (6.75 | )% | — | — | (7.56 | )% | — | — | ||||||||||||||||||||
Class R | (6.89 | )% | — | — | — | (3.87 | )% | — | ||||||||||||||||||||
Class W | (6.55 | )% | — | — | — | — | (5.11 | )% | ||||||||||||||||||||
Excluding Sales Charge: | ||||||||||||||||||||||||||||
Class A | (6.73 | )% | (2.50 | )% | 0.39 | % | — | — | — | |||||||||||||||||||
Class B | (7.42 | )% | (3.22 | )% | (0.35 | )% | — | — | — | |||||||||||||||||||
Class C | (7.51 | )% | (3.25 | )% | (0.38 | )% | — | — | — | |||||||||||||||||||
Class I | (6.46 | )% | (2.28 | )% | 0.61 | % | — | — | — | |||||||||||||||||||
Class O | (6.75 | )% | — | — | (7.56 | )% | — | — | ||||||||||||||||||||
Class R | (6.89 | )% | — | — | — | (3.87 | )% | — | ||||||||||||||||||||
Class W | (6.55 | )% | — | — | — | — | (5.11 | )% | ||||||||||||||||||||
MSCI ACWI ex-US | (4.66 | )% | (0.37 | )% | 2.63 | %(4) | (6.16 | )%(5) | (1.09 | )%(6) | (3.58 | )%(7) |
(1) | Reflects deduction of the maximum Class A sales charge of 5.75%. |
(2) | Reflects deduction of the Class B deferred sales charge of 5% and 2%, respectively, for the 1 year and 5 year returns. |
(3) | Reflects deduction of the Class C deferred sales charge of 1% for the 1 year return. |
(4) | Since inception performance for the index is shown from January 1, 2006. |
(5) | Since inception performance for the index is shown from June 1, 2008. |
(6) | Since inception performance for the index is shown from December 1, 2006. |
(7) | Since inception performance for the index is shown from February 1, 2008. |
ING EMERGING COUNTRIES FUND | PORTFOLIO MANAGERS’ REPORT |
Country Allocation as of October 31, 2011 (as a percentage of net assets) | ||||||||
China | 17.4 | % | ||||||
South Korea | 14.9 | % | ||||||
Brazil | 14.2 | % | ||||||
Taiwan | 11.3 | % | ||||||
India | 8.6 | % | ||||||
Russia | 7.8 | % | ||||||
South Africa | 5.4 | % | ||||||
Mexico | 3.4 | % | ||||||
Malaysia | 3.3 | % | ||||||
Indonesia | 2.8 | % | ||||||
Countries between 0.4%–1.6%ˆ | 8.0 | % | ||||||
Assets in Excess of Other Liabilities* | 2.9 | % | ||||||
Net Assets | 100.0 | % | ||||||
* | Includes short-term investments. | |||||||
ˆ | Includes 11 countries, which each represents 0.4%–1.6% of net assets. | |||||||
Portfolio holdings are subject to change daily. |
Top Ten Holdings as of October 31, 2011 (as a percentage of net assets) | |||||||
Samsung Electronics Co., Ltd. | 4.4 | % | |||||
Taiwan Semiconductor Manufacturing Co., Ltd. | 2.7 | % | |||||
China Mobile Ltd. | 2.5 | % | |||||
iShares MSCI Malaysia Index Fund | 2.3 | % | |||||
Vale SA | 2.2 | % | |||||
America Movil SAB de CV ADR | 1.9 | % | |||||
Sberbank of Russian Federation | 1.9 | % | |||||
Gazprom OAO ADR | 1.8 | % | |||||
CNOOC Ltd. | 1.7 | % | |||||
China Construction Bank | 1.7 | % | |||||
Portfolio holdings are subject to change daily. |
PORTFOLIO MANAGERS’ REPORT | ING EMERGING COUNTRIES FUND |
Average Annual Total Returns for the Periods Ended October 31, 2011 | ||||||||||||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
1 Year | 5 Year | 10 Year | Since Inception of Class I December 21, 2005 | Since Inception of Class W February 12, 2008 | ||||||||||||||||||||
Including Sales Charge: | ||||||||||||||||||||||||
Class A(1) | (19.35 | )% | (3.02 | )% | 8.03 | % | — | — | ||||||||||||||||
Class B(2) | (19.30 | )% | (2.99 | )% | 7.93 | % | — | — | ||||||||||||||||
Class C(3) | (15.91 | )% | (2.61 | )% | 7.80 | % | — | — | ||||||||||||||||
Class I | (14.03 | )% | (1.45 | )% | — | 1.36 | % | |||||||||||||||||
Class W | (14.21 | )% | — | — | — | (7.51 | )% | |||||||||||||||||
Excluding Sales Charge: | ||||||||||||||||||||||||
Class A | (14.44 | )% | (1.86 | )% | 8.67 | % | — | — | ||||||||||||||||
Class B | (15.05 | )% | (2.62 | )% | 7.93 | % | — | — | ||||||||||||||||
Class C | (15.06 | )% | (2.61 | )% | 7.80 | % | — | — | ||||||||||||||||
Class I | (14.03 | )% | (1.45 | )% | — | 1.36 | % | — | ||||||||||||||||
Class W | (14.21 | )% | — | — | — | (7.51 | )% | |||||||||||||||||
MSCI EM IndexSM* | (7.72 | )% | 6.51 | % | 16.82 | % | 8.55 | %(4) | 0.03 | %(5) |
* | Prior to October 31, 2001, the index did not include the deduction of withholding taxes. |
(1) | Reflects deduction of the maximum Class A sales charge of 5.75%. |
(2) | Reflects deduction of the Class B deferred sales charge of 5% and 2%, respectively, for the 1 year and 5 year returns. |
(3) | Reflects deduction of the Class C deferred sales charge of 1% for the 1 year return. |
(4) | Since inception performance for the index is shown from January 1, 2006. |
(5) | Since inception performance for the index is shown from February 1, 2008. |
ING EMERGING MARKETS EQUITY FUND | PORTFOLIO MANAGERS’ REPORT |
Country Allocation as of October 31, 2011 (as a percentage of net assets) | |||||||||
Brazil | 17.6 | % | |||||||
South Korea | 15.2 | % | |||||||
China | 14.9 | % | |||||||
Russia | 7.4 | % | |||||||
South Africa | 6.3 | % | |||||||
Taiwan | 5.7 | % | |||||||
United States | 4.1 | % | |||||||
Hong Kong | 3.8 | % | |||||||
Mexico | 3.5 | % | |||||||
Thailand | 2.8 | % | |||||||
Countries between 0.3%–2.3%ˆ | 9.5 | % | |||||||
Assets in Excess of Other Liabilities | 9.2 | % | |||||||
Net Assets | 100.0 | % | |||||||
ˆ | Includes 11 countries, which each represents 0.3%–2.3% of net assets. | ||||||||
Portfolio holdings are subject to change daily. |
Top Ten Holdings as of October 31, 2011 (as a percentage of net assets) | |||||||
Petroleo Brasileiro SA ADR | 3.2 | % | |||||
Samsung Electronics Co., Ltd. GDR | 2.3 | % | |||||
iShares MSCI Emerging Markets Index Fund | 2.3 | % | |||||
Samsung Electronics Co., Ltd. | 2.1 | % | |||||
Vale SA ADR | 1.9 | % | |||||
Sberbank of Russia ADR | 1.8 | % | |||||
Avon Products, Inc. | 1.7 | % | |||||
China Construction Bank | 1.6 | % | |||||
Itau Unibanco Holding SA ADR | 1.6 | % | |||||
Industrial and Commercial Bank of China Ltd. | 1.5 | % | |||||
Portfolio holdings are subject to change daily. |
(1) | For purposes of these discussions, “the fund” refers to each Sub-Adviser’s respectively managed portion of ING Emerging Markets Equity Fund. |
PORTFOLIO MANAGERS’ REPORT | ING EMERGING MARKETS EQUITY FUND |
Cumulative Total Returns for the Periods Ended October 31, 2011 | ||||||||
---|---|---|---|---|---|---|---|---|
Since Inception of Classes A, C, I, R & W October 11, 2011 | ||||||||
Including Sales Charge: | ||||||||
Class A(1) | 1.23 | % | ||||||
Class C(2) | 6.30 | % | ||||||
Class I | 7.40 | % | ||||||
Class R | 7.40 | % | ||||||
Class W | 7.40 | % | ||||||
Excluding Sales Charge: | ||||||||
Class A | 7.40 | % | ||||||
Class C | 7.30 | % | ||||||
Class I | 7.40 | % | ||||||
Class R | 7.40 | % | ||||||
Class W | 7.40 | % | ||||||
MSCI EM IndexSM | 10.92 | % |
(1) | Reflects deduction of the maximum Class A sales charge of 5.75%. |
(2) | Reflects deduction of the Class C deferred sales charge of 1% for the 1 year return. |
ING GLOBAL BOND FUND | PORTFOLIO MANAGERS’ REPORT |
Country Allocation as of October 31, 2011 (as a percentage of net assets) | ||||||||
United States | 47.2 | % | ||||||
Brazil | 10.0 | % | ||||||
Germany | 7.5 | % | ||||||
South Africa | 4.6 | % | ||||||
South Korea | 3.5 | % | ||||||
France | 3.1 | % | ||||||
Mexico | 2.2 | % | ||||||
Canada | 1.6 | % | ||||||
United Kingdom | 1.6 | % | ||||||
Countries between 0.1%–1.7%ˆ | 8.9 | % | ||||||
Assets in Excess of Other Liabilities* | 9.8 | % | ||||||
Net Assets | 100.0 | % | ||||||
* | Includes short-term investments and purchased options. | |||||||
ˆ | Includes 24 countries, which each represents 0.1%–1.7% of net assets. | |||||||
Portfolio holdings are subject to change daily. |
Top Ten Holdings as of October 31, 2011 (as a percentage of net assets) | |||||||
United States Treasury Note/Bond, 1.375%, 09/30/18 | 4.9 | % | |||||
Bundesschatzanweisungen, 1.750%, 06/14/13 | 4.6 | % | |||||
Brazil Notas do Tesouro Nacional Series F, 10.000%, 01/01/21 | 4.5 | % | |||||
South Africa Government Bond, 7.250%, 01/15/20 | 4.1 | % | |||||
Freddie Mac, 4.000%, 06/15/40 | 3.9 | % | |||||
Brazil Notas do Tesouro Nacional Serie F, 10.000%, 01/01/15 | 3.2 | % | |||||
Korea Treasury Bond, 4.750%, 12/10/11 | 3.1 | % | |||||
Bundesrepublik Deutschland, 2.250%, 09/04/21 | 2.9 | % | |||||
France Government Bond OAT, 3.250%, 10/25/21 | 2.9 | % | |||||
United States Treasury Note/Bond, 1.000%, 09/30/16 | 2.7 | % | |||||
Portfolio holdings are subject to change daily. |
* | Effective April 12, 2011, Chris Diaz was removed as a portfolio manager to the Fund and Ms. Hurtsellers was added as a portfolio manager to the Fund. Effective July 18, 2011, Mr. Robis was added as a portfolio manager to the Fund. |
PORTFOLIO MANAGERS’ REPORT | ING GLOBAL BOND FUND |
Average Annual Total Returns for the Periods Ended October 31, 2011 | ||||||||||||||||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
1 Year | 5 Year | Since Inception of Classes A, B, C and I June 30, 2006 | Since Inception of Class O June 4, 2008 | Since Inception of Class R August 5, 2011 | Since Inception of Class W June 1, 2009 | |||||||||||||||||||||||
Including Sales Charge: | ||||||||||||||||||||||||||||
Class A(1) | (1.25 | )% | 8.27 | % | 7.87 | % | — | — | — | |||||||||||||||||||
Class B(2) | (4.13 | )% | 7.69 | % | 7.90 | % | — | — | — | |||||||||||||||||||
Class C(3) | (0.31 | )% | 8.02 | % | 8.06 | % | — | — | — | |||||||||||||||||||
Class I | 1.75 | % | 9.26 | % | 9.30 | % | — | — | — | |||||||||||||||||||
Class O | 1.43 | % | — | — | 8.02 | % | — | — | ||||||||||||||||||||
Class R | — | — | — | — | (1.59 | )% | — | |||||||||||||||||||||
Class W | 1.60 | % | — | — | — | — | 8.09 | % | ||||||||||||||||||||
Excluding Sales Charge: | ||||||||||||||||||||||||||||
Class A | 1.32 | % | 8.81 | % | 8.86 | % | — | — | — | |||||||||||||||||||
Class B | 0.65 | % | 7.99 | % | 8.03 | % | — | — | — | |||||||||||||||||||
Class C | 0.65 | % | 8.02 | % | 8.06 | % | — | — | — | |||||||||||||||||||
Class I | 1.75 | % | 9.26 | % | 9.30 | % | — | — | — | |||||||||||||||||||
Class O | 1.43 | % | — | — | 8.02 | % | — | — | ||||||||||||||||||||
Class R | — | — | — | — | (1.59 | )% | — | |||||||||||||||||||||
Class W | 1.60 | % | — | — | — | — | 8.09 | % | ||||||||||||||||||||
Barclays Capital Global Aggregate Index | 4.08 | % | 6.93 | % | 7.10 | %(4) | 6.02 | %(5) | 0.25 | %(6) | 7.55 | % |
(1) | Reflects deduction of the maximum Class A sales charge of 2.50%. |
(2) | Reflects deduction of the Class B deferred sales charge of 5% and 2%, respectively, for the 1 year and 5 year returns. |
(3) | Reflects deduction of the Class C deferred sales charge of 1% for the 1 year return. |
(4) | Since inception performance for the index is shown from July 1, 2006. |
(5) | Since inception performance for the index is shown from June 1, 2008. |
(6) | Since inception performance for the index is shown from August 1, 2011. |
ING GLOBAL EQUITY DIVIDEND FUND | PORTFOLIO MANAGERS’ REPORT |
Country Allocation as of October 31, 2011 (as a percentage of net assets) | |||||||||
United States | 43.9 | % | |||||||
United Kingdom | 8.6 | % | |||||||
Japan | 8.4 | % | |||||||
France | 6.2 | % | |||||||
Germany | 5.0 | % | |||||||
Switzerland | 4.8 | % | |||||||
Netherlands | 3.9 | % | |||||||
Canada | 2.5 | % | |||||||
Taiwan | 2.0 | % | |||||||
Singapore | 1.8 | % | |||||||
Countries between 0.4%–1.3%ˆ | 9.7 | % | |||||||
Assets in Excess of Other Liabilities* | 3.2 | % | |||||||
Net Assets | 100.0 | % | |||||||
* | Includes short-term investments. | ||||||||
ˆ | Includes 13 countries, which each represents 0.4%–1.3% of net assets. | ||||||||
Portfolio holdings are subject to change daily. |
Top Ten Holdings as of October 31, 2011* (as a percentage of net assets) | |||||||
Microsoft Corp. | 1.6 | % | |||||
AT&T, Inc. | 1.5 | % | |||||
General Electric Co. | 1.5 | % | |||||
Transocean Ltd. | 1.5 | % | |||||
Royal Dutch Shell PLC | 1.5 | % | |||||
ExxonMobil Corp. | 1.4 | % | |||||
Exelon Corp. | 1.3 | % | |||||
Kraft Foods, Inc. | 1.2 | % | |||||
Imperial Tobacco Group PLC | 1.2 | % | |||||
Taiwan Semiconductor Manufacturing Co., Ltd. ADR | 1.2 | % | |||||
* Excludes short-term investments. | |||||||
Portfolio holdings are subject to change daily. |
* | Effective June 1, 2011, Moudy El Khodr was removed as a portfolio manager to the Fund and Bruno Springael was added. |
PORTFOLIO MANAGERS’ REPORT | ING GLOBAL EQUITY DIVIDEND FUND |
Average Annual Total Returns for the Periods Ended October 31, 2011 | ||||||||||||||||||||||||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
1 Year | 5 Year | Since Inception of Class A September 17, 2003 | Since Inception of Class B October 24, 2003 | Since Inception of Class C October 29, 2003 | Since Inception of Class I August 1, 2007 | Since Inception of Class O November 15, 2006 | Since Inception of Class W February 12, 2008 | |||||||||||||||||||||||||||||
Including Sales Charge: | ||||||||||||||||||||||||||||||||||||
Class A(1) | (5.91 | )% | (4.35 | )% | 4.69 | % | — | — | — | — | — | |||||||||||||||||||||||||
Class B(2) | (5.73 | )% | (4.24 | )% | — | 4.37 | % | — | — | — | — | |||||||||||||||||||||||||
Class C(3) | (1.89 | )% | (3.92 | )% | — | — | 4.21 | % | — | — | — | |||||||||||||||||||||||||
Class I | 0.21 | % | — | — | — | — | (5.08 | )% | — | — | ||||||||||||||||||||||||||
Class O | (0.16 | )% | — | — | — | — | — | (3.36 | )% | — | ||||||||||||||||||||||||||
Class W | 0.00 | % | — | — | — | — | — | — | (4.17 | )% | ||||||||||||||||||||||||||
Excluding Sales Charge: | ||||||||||||||||||||||||||||||||||||
Class A | (0.16 | )% | (3.21 | )% | 5.46 | % | — | — | — | — | — | |||||||||||||||||||||||||
Class B | (0.86 | )% | (3.93 | )% | — | 4.37 | % | — | — | — | — | |||||||||||||||||||||||||
Class C | (0.91 | )% | (3.92 | )% | — | — | 4.21 | % | — | — | — | |||||||||||||||||||||||||
Class I | 0.21 | % | — | — | — | — | (5.08 | )% | — | — | ||||||||||||||||||||||||||
Class O | (0.16 | )% | — | — | — | — | — | (3.36 | )% | — | ||||||||||||||||||||||||||
Class W | 0.00 | % | — | — | �� | — | — | — | — | (4.17 | )% | |||||||||||||||||||||||||
MSCI World IndexSM | 1.76 | % | (1.00 | )% | 5.72 | %(4) | 5.02 | %(5) | 5.02 | %(5) | (3.69 | )% | (1.00 | )%(6) | (2.67 | )%(7) |
(1) | Reflects deduction of the maximum Class A sales charge of 5.75%. |
(2) | Reflects deduction of the Class B deferred sales charge of 5% and 2%, respectively, for the 1 year and 5 year returns. |
(3) | Reflects deduction of the Class C deferred sales charge of 1% for the 1 year return. |
(4) | Since inception performance for the index is shown from October 1, 2003. |
(5) | Since inception performance for the index is shown from November 1, 2003. |
(6) | Since inception performance for the index is shown from November 1, 2006. |
(7) | Since inception performance for the index is shown from February 1, 2008. |
ING GLOBAL NATURAL RESOURCES FUND | PORTFOLIO MANAGERS’ REPORT |
Country Allocation as of October 31, 2011 (as a percentage of net assets) | |||||||||
United States | 74.6 | % | |||||||
Canada | 9.9 | % | |||||||
United Kingdom | 4.6 | % | |||||||
Netherlands | 4.2 | % | |||||||
Norway | 2.4 | % | |||||||
France | 1.5 | % | |||||||
Argentina | 0.9 | % | |||||||
Assets in Excess of Other Liabilities* | 1.9 | % | |||||||
Net Assets | 100.0 | % | |||||||
* | Includes short-term investments. | ||||||||
Portfolio holdings are subject to change daily. |
Top Ten Holdings as of October 31, 2011 (as a percentage of net assets) | |||||||
ExxonMobil Corp. | 8.8 | % | |||||
Chevron Corp. | 6.8 | % | |||||
Halliburton Co. | 4.4 | % | |||||
Royal Dutch Shell PLC — Class A ADR | 4.2 | % | |||||
National Oilwell Varco, Inc. | 4.0 | % | |||||
Schlumberger Ltd. | 3.7 | % | |||||
EOG Resources, Inc. | 3.3 | % | |||||
Anadarko Petroleum Corp. | 3.2 | % | |||||
Hess Corp. | 3.2 | % | |||||
Devon Energy Corp. | 3.0 | % | |||||
Portfolio holdings are subject to change daily. |
* | Effective August 1, 2011, Mr. Bailey was added as a portfolio manager to the Fund. Effective December 1, 2011, David Powers was removed as a portfolio manager to the Fund. |
PORTFOLIO MANAGERS’ REPORT | ING GLOBAL NATURAL RESOURCES FUND |
Average Annual Total Returns for the Periods Ended October 31, 2011 | ||||||||||||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
1 Year | 5 Year | 10 Year | Since Inception of Class I August 1, 2007 | Since Inception of Class W February 12, 2008 | ||||||||||||||||||||
Including Sales Charge: | ||||||||||||||||||||||||
Class A(1) | 0.47 | % | 3.55 | % | 15.53 | % | — | — | ||||||||||||||||
Class I | 7.04 | % | — | — | 1.29 | % | — | |||||||||||||||||
Class W | 6.91 | % | — | — | — | (0.35 | )% | |||||||||||||||||
Excluding Sales Charge: | ||||||||||||||||||||||||
Class A | 6.63 | % | 4.79 | % | 16.23 | % | — | — | ||||||||||||||||
Class I | 7.04 | % | — | — | 1.29 | % | — | |||||||||||||||||
Class W | 6.91 | % | — | — | — | (0.35 | )% | |||||||||||||||||
S&P 500® Index | 8.09 | % | 0.25 | % | 3.69 | % | (1.32 | )% | (0.32 | )%(2) | ||||||||||||||
S&P North American Natural Resources Sector Index | 11.08 | % | 5.73 | % | 11.51 | % | 1.26 | % | 0.87 | %(2) |
(1) | Reflects deduction of the maximum Class A sales charge of 5.75%. |
(2) | Since inception performance for the index is shown from February 1, 2008. |
ING GLOBAL OPPORTUNITIES FUND | PORTFOLIO MANAGERS’ REPORT |
Country Allocation as of October 31, 2011 (as a percentage of net assets) | ||||||||
United States | 37.1 | % | ||||||
United Kingdom | 9.8 | % | ||||||
Switzerland | 8.8 | % | ||||||
China | 6.9 | % | ||||||
Japan | 6.6 | % | ||||||
Netherlands | 5.8 | % | ||||||
Indonesia | 3.6 | % | ||||||
France | 2.9 | % | ||||||
South Korea | 2.2 | % | ||||||
Countries between 0.3%–2.2%ˆ | 18.6 | % | ||||||
Liabilities in Excess of Other Assets* | (2.3 | )% | ||||||
Net Assets | 100.0 | % | ||||||
* | Includes short-term investments. | |||||||
ˆ | Includes 19 countries, which each represents 0.3%–2.2% of net assets. | |||||||
Portfolio holdings are subject to change daily. |
Top Ten Holdings as of October 31, 2011 (as a percentage of net assets) | |||||||
NetApp, Inc. | 3.1 | % | |||||
Google, Inc. — Class A | 2.3 | % | |||||
Apple, Inc. | 2.2 | % | |||||
SPDR S&P Biotech ETF | 2.1 | % | |||||
Nestle S.A. | 2.1 | % | |||||
BP PLC | 1.8 | % | |||||
HSBC Holdings PLC | 1.7 | % | |||||
Microsoft Corp. | 1.7 | % | |||||
Novartis AG | 1.6 | % | |||||
Unilever NV | 1.6 | % | |||||
Portfolio holdings are subject to change daily. |
* | Effective May 1, 2011, Tycho van Wijk and Tjeert Keijzer were removed as portfolio managers to the Fund and Huub van der Riet and Alex van der Laan were added. |
PORTFOLIO MANAGERS’ REPORT | ING GLOBAL OPPORTUNITIES FUND |
Average Annual Total Returns for the Periods Ended October 31, 2011 | ||||||||||||||||||||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
1 Year | 5 Year | Since Inception of Class A July 1, 2003 | Since Inception of Class B July 8, 2003 | Since Inception of Class C July 7, 2003 | Since Inception of Class I September 8, 2003 | Since Inception of Class W February 12, 2008 | ||||||||||||||||||||||||||
Including Sales Charge: | ||||||||||||||||||||||||||||||||
Class A(1) | (9.49 | )% | (4.63 | )% | 5.17 | % | — | — | — | — | ||||||||||||||||||||||
Class B(2) | (9.48 | )% | (4.58 | )% | — | 4.76 | % | — | — | — | ||||||||||||||||||||||
Class C(3) | (5.70 | )% | (4.24 | )% | — | — | 4.81 | % | — | — | ||||||||||||||||||||||
Class I | (3.55 | )% | (3.12 | )% | — | — | — | 5.67 | % | — | ||||||||||||||||||||||
Class W | (3.94 | )% | — | — | — | — | — | (7.38 | )% | |||||||||||||||||||||||
Excluding Sales Charge: | ||||||||||||||||||||||||||||||||
Class A | (3.96 | )% | (3.50 | )% | 5.92 | % | — | — | — | — | ||||||||||||||||||||||
Class B | (4.78 | )% | (4.25 | )% | — | 4.76 | % | — | — | — | ||||||||||||||||||||||
Class C | (4.76 | )% | (4.24 | )% | — | — | 4.81 | % | — | — | ||||||||||||||||||||||
Class I | (3.55 | )% | (3.12 | )% | — | — | — | 5.67 | % | — | ||||||||||||||||||||||
Class W | (3.94 | )% | — | — | — | — | — | (7.38 | )% | |||||||||||||||||||||||
MSCI ACWISM | 0.43 | % | (0.30 | )% | 6.89 | %(4) | 6.89 | %(4) | 6.89 | %(4) | 6.45%(5 | ) | (2.37 | )%(6) | ||||||||||||||||||
MSCI ACWI ex-US | (4.66 | )% | (0.37 | )% | 9.23 | %(4) | 9.23 | %(4) | 9.23 | %(4) | 8.69 | %(5) | (3.58 | )%(6) |
(1) | Reflects deduction of the maximum Class A sales charge of 5.75%. |
(2) | Reflects deduction of the Class B deferred sales charge of 5% and 2%, respectively, for the 1 year and 5 year returns. |
(3) | Reflects deduction of the Class C deferred sales charge of 1% for the 1 year return. |
(4) | Since inception performance for the index is shown from July 1, 2003. |
(5) | Since inception performance for the index is shown from September 1, 2003. |
(6) | Since inception performance for the index is shown from February 1, 2008. |
ING GLOBAL REAL ESTATE FUND | PORTFOLIO MANAGERS’ REPORT |
Country Allocation as of October 31, 2011 (as a percentage of net assets) | |||||||||
United States | 44.6 | % | |||||||
Japan | 12.8 | % | |||||||
Hong Kong | 10.7 | % | |||||||
Australia | 9.9 | % | |||||||
United Kingdom | 5.0 | % | |||||||
France | 4.5 | % | |||||||
Singapore | 4.5 | % | |||||||
Canada | 3.5 | % | |||||||
Switzerland | 0.7 | % | |||||||
Germany | 0.6 | % | |||||||
Countries between 0.5%–0.6%ˆ | 2.1 | % | |||||||
Assets in Excess of Other Liabilities* | 1.1 | % | |||||||
Net Assets | 100.0 | % | |||||||
* | Includes short-term investments. | ||||||||
ˆ | Includes 5 countries, which each represents 0.5%–0.6% of net assets. | ||||||||
Portfolio holdings are subject to change daily. |
Top Ten Holdings as of October 31, 2011 (as a percentage of net assets) | |||||||
Simon Property Group, Inc. | 5.4 | % | |||||
Mitsubishi Estate Co., Ltd. | 3.4 | % | |||||
Equity Residential | 3.1 | % | |||||
Boston Properties, Inc. | 2.9 | % | |||||
Unibail | 2.8 | % | |||||
Sun Hung Kai Properties Ltd. | 2.7 | % | |||||
Mitsui Fudosan Co., Ltd. | 2.7 | % | |||||
AvalonBay Communities, Inc. | 2.6 | % | |||||
ProLogis, Inc. | 2.5 | % | |||||
Cheung Kong Holdings Ltd. | 2.5 | % | |||||
Portfolio holdings are subject to change daily. |
* | ING Groep, NV, the indirect parent of both ING Investments, LLC, the Investment Adviser to Global Real Estate and ING Clarion Real Estate Securities, LLC (“Clarion”), the Sub-Adviser to Global Real Estate, agreed to sell Clarion and other affiliated entities to CB Richard Ellis Group, Inc. (the “Transaction”). The completion of the Transaction also resulted in a name change for Clarion to CBRE Clarion Securities LLC (“CBRE Clarion”). In anticipation of the Transaction, on June 14, 2011, the Fund’s shareholders approved a new sub-advisory agreements between ING Investments, LLC and CBRE Clarion on the same terms, compensation structure and portfolio management teams as was in place under the Fund’s previous sub-advisory agreement with Clarion and was effective upon the close of the Transaction. The Transaction closed on July 1, 2011. |
PORTFOLIO MANAGERS’ REPORT | ING GLOBAL REAL ESTATE FUND |
Average Annual Total Returns for the Periods Ended October 31, 2011 | ||||||||||||||||||||||||||||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
1 Year | 5 Year | Since Inception of Class A November 5, 2001 | Since Inception of Class B March 15, 2002 | Since Inception of Class C January 8, 2002 | Since Inception of Class I June 3, 2005 | Since Inception of Class O November 15, 2006 | Since Inception of Class R August 5, 2011 | Since Inception of Class W February 12, 2008 | ||||||||||||||||||||||||||||||||
Including Sales Charge: | ||||||||||||||||||||||||||||||||||||||||
Class A(1) | (5.25 | )% | (3.58 | )% | 10.27 | % | — | — | — | — | — | — | ||||||||||||||||||||||||||||
Class B(2) | (5.00 | )% | (3.47 | )% | — | 9.26 | % | — | — | — | — | — | ||||||||||||||||||||||||||||
Class C(3) | (1.16 | )% | (3.16 | )% | — | — | 9.45 | % | — | — | — | — | ||||||||||||||||||||||||||||
Class I | 0.92 | % | (2.06 | )% | — | — | — | 4.83 | % | — | — | — | ||||||||||||||||||||||||||||
Class O | 0.51 | % | — | — | — | — | — | (2.43 | )% | — | — | |||||||||||||||||||||||||||||
Class R | — | — | — | — | — | — | — | 1.98 | % | — | ||||||||||||||||||||||||||||||
Class W | 0.78 | % | — | — | — | — | — | — | — | (1.34 | )% | |||||||||||||||||||||||||||||
Excluding Sales Charge: | ||||||||||||||||||||||||||||||||||||||||
Class A | 0.52 | % | (2.43 | )% | 10.93 | % | — | — | — | — | — | — | ||||||||||||||||||||||||||||
Class B | (0.19 | )% | (3.16 | )% | — | 9.26 | % | — | — | — | — | — | ||||||||||||||||||||||||||||
Class C | (0.19 | )% | (3.16 | )% | — | — | 9.45 | % | — | — | — | — | ||||||||||||||||||||||||||||
Class I | 0.92 | % | (2.06 | )% | — | — | — | 4.83 | % | — | — | — | ||||||||||||||||||||||||||||
Class O | 0.51 | % | — | — | — | — | — | (2.43 | )% | — | — | |||||||||||||||||||||||||||||
Class R | — | — | — | — | — | — | — | 1.98 | % | — | ||||||||||||||||||||||||||||||
Class W | 0.78 | % | — | — | — | — | — | — | — | (1.34 | )% | |||||||||||||||||||||||||||||
S&P Developed Property Index | 1.63 | % | (2.82 | )% | 10.49 | %(4) | 10.24 | %(5) | 10.06 | %(6) | 4.15 | %(7) | (2.82 | )%(8) | (7.45 | )%(9) | (2.61 | )%(10) |
(1) | Reflects deduction of the maximum Class A sales charge of 5.75%. |
(2) | Reflects deduction of the Class B deferred sales charge of 5% and 2%, respectively, for the 1 year and 5 year returns. |
(3) | Reflects deduction of the Class C deferred sales charge of 1% for the 1 year return. |
(4) | Since inception performance for the index is shown from November 1, 2001. |
(5) | Since inception performance for the index is shown from March 1, 2002. |
(6) | Since inception performance for the index is shown from Janurary 1, 2002. |
(7) | Since inception performance for the index is shown from June 1, 2005. |
(8) | Since inception performance for the index is shown from November 1, 2006. |
(9) | Since inception performance for the index is shown from August 1, 2011. |
(10) | Since inception performance for the index is shown from February 1, 2008. |
ING GLOBAL VALUE CHOICE FUND | PORTFOLIO MANAGERS’ REPORT |
Country Allocation as of October 31, 2011 (as a percentage of net assets) | ||||||||
United States | 25.0 | % | ||||||
Japan | 19.6 | % | ||||||
Canada | 10.4 | % | ||||||
France | 6.1 | % | ||||||
Russia | 4.8 | % | ||||||
South Africa | 3.9 | % | ||||||
South Korea | 3.9 | % | ||||||
Australia | 2.7 | % | ||||||
United Kingdom | 2.6 | % | ||||||
Countries between 0.1%–2.4%ˆ | 18.0 | % | ||||||
Assets in Excess of Other Liabilities* | 3.0 | % | ||||||
Net Assets | 100.0 | % | ||||||
* | Includes short-term investments. | |||||||
ˆ | Includes 16 countries, which each represents 0.1%–2.4% of net assets. | |||||||
Portfolio holdings are subject to change daily. |
Top Ten Holdings as of October 31, 2011* (as a percentage of net assets) | |||||||
Newmont Mining Corp. | 4.6 | % | |||||
Electricite de France SA | 3.5 | % | |||||
Barrick Gold Corp. | 3.5 | % | |||||
Cameco Corp. | 3.4 | % | |||||
Eli Lilly & Co. | 3.4 | % | |||||
Wal-Mart Stores, Inc. | 2.8 | % | |||||
Nippon Telegraph & Telephone Corp. | 2.5 | % | |||||
East Japan Railway Co. | 2.5 | % | |||||
American International Group, Inc. | 2.5 | % | |||||
Gazprom OAO ADR | 2.3 | % | |||||
* Excludes short-term investments. | |||||||
Portfolio holdings are subject to change daily. |
PORTFOLIO MANAGERS’ REPORT | ING GLOBAL VALUE CHOICE FUND |
Average Annual Total Returns for the Periods Ended October 31, 2011 | ||||||||||||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
1 Year | 5 Year | 10 Year | Since Inception of Class I September 6, 2006 | Since Inception of Class W June 1, 2009 | ||||||||||||||||||||
Including Sales Charge: | ||||||||||||||||||||||||
Class A(1) | (3.21 | )% | 7.49 | % | 7.35 | % | — | — | ||||||||||||||||
Class B(2) | (3.06 | )% | 7.68 | % | 7.23 | % | — | — | ||||||||||||||||
Class C(3) | 0.93 | % | 7.97 | % | 7.23 | % | — | — | ||||||||||||||||
Class I | 3.04 | % | 9.21 | % | — | 9.34 | % | — | ||||||||||||||||
Class W | 2.98 | % | — | — | — | 14.05 | % | |||||||||||||||||
Excluding Sales Charge: | ||||||||||||||||||||||||
Class A | 2.69 | % | 8.77 | % | 7.98 | % | — | — | ||||||||||||||||
Class B | 1.94 | % | 7.98 | % | 7.23 | % | — | — | ||||||||||||||||
Class C | 1.93 | % | 7.97 | % | 7.23 | % | — | — | ||||||||||||||||
Class I | 3.04 | % | 9.21 | % | — | 9.34 | % | — | ||||||||||||||||
Class W | 2.98 | % | — | — | — | 14.05 | % | |||||||||||||||||
MSCI ACWISM* | 0.43 | % | (0.30 | )% | 5.30 | % | 0.65 | %(4) | 12.25 | % |
* | Prior to October 31, 2002, the index did not include the deduction of withholding taxes. |
(1) | Reflects deduction of the maximum Class A sales charge of 5.75%. |
(2) | Reflects deduction of the Class B deferred sales charge of 5% and 2%, respectively, for the 1 year and 5 year returns. |
(3) | Reflects deduction of the Class C deferred sales charge of 1% for the 1 year return. |
(4) | Since inception performance for the index is shown from September 1, 2006. |
ING GREATER CHINA FUND | PORTFOLIO MANAGERS’ REPORT |
Country Allocation as of October 31, 2011 (as a percentage of net assets) | ||||||||
China | 48.5 | % | ||||||
Taiwan | 25.2 | % | ||||||
Hong Kong | 24.6 | % | ||||||
Canada | 0.1 | % | ||||||
Assets in Excess of Other Liabilities | 1.6 | % | ||||||
Net Assets | 100.0 | % | ||||||
Portfolio holdings are subject to change daily. |
Top Ten Holdings as of October 31, 2011 (as a percentage of net assets) | |||||||
China Mobile Ltd. | 5.0 | % | |||||
Taiwan Semiconductor Manufacturing Co., Ltd. | 4.9 | % | |||||
Industrial and Commercial Bank of China Ltd. | 3.9 | % | |||||
Chow Sang Sang Holdings International Ltd. | 3.5 | % | |||||
Hon Hai Precision Industry Co., Ltd. | 3.4 | % | |||||
CNOOC Ltd. | 3.3 | % | |||||
China Construction Bank | 3.3 | % | |||||
Cheung Kong Holdings Ltd. | 2.4 | % | |||||
PetroChina Co., Ltd. | 2.2 | % | |||||
China Communications Construction Co., Ltd. | 2.0 | % | |||||
Portfolio holdings are subject to change daily. |
PORTFOLIO MANAGERS’ REPORT | ING GREATER CHINA FUND |
Average Annual Total Returns for the Periods Ended October 31, 2011 | ||||||||||||||||||||||||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
1 Year | 5 Year | Since Inception of Class A December 21, 2005 | Since Inception of Class B January 6, 2006 | Since Inception of Class C January 11, 2006 | Since Inception of Class I May 8, 2006 | Since Inception of Class O June 4, 2008 | Since Inception of Class W August 5, 2011 | |||||||||||||||||||||||||||||
Including Sales Charge: | ||||||||||||||||||||||||||||||||||||
Class A(1) | (17.56 | )% | 5.96 | % | 9.12 | % | — | — | — | — | — | |||||||||||||||||||||||||
Class B(2) | (17.46 | )% | 6.09 | % | — | 8.27 | % | — | — | — | — | |||||||||||||||||||||||||
Class C(3) | (14.02 | )% | 6.40 | % | — | — | 8.30 | % | — | — | — | |||||||||||||||||||||||||
Class I | (12.20 | )% | 7.62 | % | — | — | — | 6.41 | % | — | — | |||||||||||||||||||||||||
Class O | (12.51 | )% | — | — | — | — | — | (1.94 | )% | — | ||||||||||||||||||||||||||
Class W | — | — | — | — | — | — | — | (8.25 | )% | |||||||||||||||||||||||||||
Excluding Sales Charge: | ||||||||||||||||||||||||||||||||||||
Class A | (12.53 | )% | 7.22 | % | 10.23 | % | — | — | — | — | — | |||||||||||||||||||||||||
Class B | (13.14 | )% | 6.40 | % | — | 8.39 | % | — | — | — | — | |||||||||||||||||||||||||
Class C | (13.16 | )% | 6.40 | % | — | — | 8.30 | % | — | — | — | |||||||||||||||||||||||||
Class I | (12.20 | )% | 7.62 | % | — | — | — | 6.41 | % | — | — | |||||||||||||||||||||||||
Class O | (12.51 | )% | — | — | — | — | — | (1.94 | )% | — | ||||||||||||||||||||||||||
Class W | — | — | — | — | — | — | — | (8.25 | )% | |||||||||||||||||||||||||||
MSCI All Countries Golden Dragon IndexSM | (10.67 | )% | 5.85 | % | 8.16 | %(4) | 8.16 | %(4) | 8.16 | %(4) | 5.70 | %(5) | (2.82 | )%(6) | (12.85 | )%(7) |
(1) | Reflects deduction of the maximum Class A sales charge of 5.75%. |
(2) | Reflects deduction of the Class B deferred sales charge of 5% and 2%, respectively, for the 1 year and 5 year returns. |
(3) | Reflects deduction of the Class C deferred sales charge of 1% for the 1 year return. |
(4) | Since inception performance for the index is shown from January 1, 2006. |
(5) | Since inception performance for the index is shown from May 1, 2006. |
(6) | Since inception performance for the index is shown from June 1, 2008. |
(7) | Since inception performance for the index is shown from August 1, 2011. |
ING INDEX PLUS INTERNATIONAL EQUITY FUND | PORTFOLIO MANAGERS’ REPORT |
Country Allocation as of October 31, 2011 (as a percentage of net assets) | |||||||||
United Kingdom | 19.6 | % | |||||||
Japan | 19.4 | % | |||||||
France | 10.0 | % | |||||||
Germany | 8.8 | % | |||||||
Australia | 8.5 | % | |||||||
Switzerland | 6.1 | % | |||||||
Spain | 5.1 | % | |||||||
Netherlands | 4.0 | % | |||||||
Italy | 2.9 | % | |||||||
Countries between 0.1%–2.7%ˆ | 13.0 | % | |||||||
Assets in Excess of Other Liabilities* | 2.6 | % | |||||||
Net Assets | 100.0 | % | |||||||
* | Includes short-term investments. | ||||||||
ˆ | Includes 17 countries, which each represents 0.1%–2.7% of net assets. | ||||||||
Portfolio holdings are subject to change daily. |
Top Ten Holdings as of October 31, 2011* (as a percentage of net assets) | |||||||
BP PLC | 1.7 | % | |||||
Novartis AG | 1.5 | % | |||||
Nestle S.A. | 1.4 | % | |||||
Total S.A. | 1.4 | % | |||||
Roche Holding AG — Genusschein | 1.3 | % | |||||
Telefonica S.A. | 1.3 | % | |||||
HSBC Holdings PLC | 1.3 | % | |||||
BHP Billiton Ltd. | 1.2 | % | |||||
GlaxoSmithKline PLC | 1.2 | % | |||||
British American Tobacco PLC | 1.1 | % | |||||
* Excludes short-term investments. | |||||||
Portfolio holdings are subject to change daily. |
* | Effective November 28, 2011, Pranay Gupta was replaced with Sam Lam as a portfolio manager to the Fund. |
PORTFOLIO MANAGERS’ REPORT | ING INDEX PLUS INTERNATIONAL EQUITY FUND |
Average Annual Total Returns for the Periods Ended October 31, 2011 | ||||||||||||||||||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
1 Year | 5 Year | Since Inception of Classes A and I December 21, 2005 | Since Inception of Classes B and C January 12, 2006 | Since Inception of Class O November 9, 2007 | Since Inception of Class W August 5, 2011 | |||||||||||||||||||||||||
Including Sales Charge: | ||||||||||||||||||||||||||||||
Class A(1) | (11.22 | )% | (4.80 | )% | (1.54 | )% | — | — | — | |||||||||||||||||||||
Class B(2) | (11.13 | )% | (4.58 | )% | — | (2.00 | )% | — | — | |||||||||||||||||||||
Class C(3) | (7.45 | )% | (4.28 | )% | — | (1.90 | )% | — | ||||||||||||||||||||||
Class I | (5.34 | )% | (3.13 | )% | (0.04 | )% | — | — | — | |||||||||||||||||||||
Class O | (5.85 | )% | — | — | — | (7.97 | )% | — | ||||||||||||||||||||||
Class W | — | — | 1.09 | % | — | — | (1.77 | )% | ||||||||||||||||||||||
Excluding Sales Charge: | ||||||||||||||||||||||||||||||
Class A | (5.81 | )% | (3.67 | )% | (0.54 | )% | — | — | — | |||||||||||||||||||||
Class B | (6.47 | )% | (4.26 | )% | — | (1.86 | )% | — | — | |||||||||||||||||||||
Class C | (6.52 | )% | (4.28 | )% | — | (1.90 | )% | — | ||||||||||||||||||||||
Class I | (5.34 | )% | (3.13 | )% | (0.04 | )% | — | — | — | |||||||||||||||||||||
Class O | (5.85 | )% | — | — | — | �� | (7.97 | )% | — | |||||||||||||||||||||
Class W | — | — | 1.09 | % | — | — | (1.77 | )% | ||||||||||||||||||||||
MSCI EAFE® Index | (4.08 | )% | (2.41 | )% | 0.88 | %(4) | 0.88 | %(4) | (5.91 | )%(5) | (9.76 | )%(6) |
(1) | Reflects deduction of the maximum Class A sales charge of 5.75%. |
(2) | Reflects deduction of the Class B deferred sales charge of 5% and 2%, respectively, for the 1 year and 5 year returns. |
(3) | Reflects deduction of the Class C deferred sales charge of 1% for the 1 year return. |
(4) | Since inception performance for the index is shown from January 1, 2006. |
(5) | Since inception performance for the index is shown from November 1, 2007. |
(6) | Since inception performance for the index is shown from August 1, 2011. |
ING INTERNATIONAL CAPITAL APPRECIATION FUND | PORTFOLIO MANAGERS’ REPORT |
Country Allocation as of October 31, 2011 (as a percentage of net assets) | ||||||||
United Kingdom | 14.5 | % | ||||||
Japan | 13.2 | % | ||||||
China | 9.8 | % | ||||||
Germany | 7.9 | % | ||||||
Switzerland | 7.8 | % | ||||||
Canada | 6.2 | % | ||||||
Australia | 5.9 | % | ||||||
Brazil | 3.7 | % | ||||||
India | 3.5 | % | ||||||
Italy | 3.3 | % | ||||||
Countries between 0.2%–2.8%ˆ | 24.2 | % | ||||||
Assets in Excess of Other Liabilities* | 0.0 | % | ||||||
Net Assets | 100.0 | % | ||||||
* | Includes short-term investments. | |||||||
ˆ | Includes 17 countries, which each represents 0.2%–2.8% of net assets. | |||||||
Portfolio holdings are subject to change daily. |
Top Ten Holdings as of October 31, 2011* (as a percentage of net assets) | |||||||
Telenor ASA | 2.4 | % | |||||
Samsung Electronics Co., Ltd. GDR | 2.3 | % | |||||
Canon, Inc. | 2.2 | % | |||||
Toyota Motor Corp. | 2.1 | % | |||||
WorleyParsons Ltd. | 2.1 | % | |||||
Saipem S.p.A. | 2.1 | % | |||||
Vedanta Resources PLC | 2.1 | % | |||||
Adidas AG | 2.0 | % | |||||
Woodside Petroleum Ltd. | 1.9 | % | |||||
BHP Billiton Ltd. | 1.9 | % | |||||
* Excludes short-term investments. | |||||||
Portfolio holdings are subject to change daily. |
PORTFOLIO MANAGERS’ REPORT | ING INTERNATIONAL CAPITAL APPRECIATION FUND |
Average Annual Total Returns for the Periods Ended October 31, 2011 | ||||||||||||||||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
1 Year | 5 Year | Since Inception of Classes A and I December 21, 2005 | Since Inception of Class B January 9, 2006 | Since Inception of Class C January 24, 2006 | Since Inception of Class W August 7, 2009 | |||||||||||||||||||||||
Including Sales Charge: | ||||||||||||||||||||||||||||
Class A(1) | (14.30 | )% | (3.54 | )% | (0.86 | )% | — | — | — | |||||||||||||||||||
Class B(2) | (14.33 | )% | (3.54 | )% | — | (1.49 | )% | — | — | |||||||||||||||||||
Class C(3) | (10.69 | )% | (3.22 | )% | — | — | (1.12 | )% | — | |||||||||||||||||||
Class I | (8.89 | )% | (2.09 | )% | 0.48 | % | — | — | — | |||||||||||||||||||
Class W* | (8.82 | )% | — | — | — | — | 3.16 | % | ||||||||||||||||||||
Excluding Sales Charge: | ||||||||||||||||||||||||||||
Class A | (9.12 | )% | (2.40 | )% | 0.15 | % | — | — | — | |||||||||||||||||||
Class B | (9.83 | )% | (3.18 | )% | — | (1.33 | )% | — | — | |||||||||||||||||||
Class C | (9.79 | )% | (3.22 | )% | — | — | (1.12 | )% | — | |||||||||||||||||||
Class I | (8.89 | )% | (2.09 | )% | 0.48 | % | — | — | — | |||||||||||||||||||
Class W* | (8.82 | )% | — | — | — | — | 3.16 | % | ||||||||||||||||||||
MSCI ACWI ex-US | (4.66 | )% | (0.37 | )% | 2.63 | %(4) | 2.63 | %(4) | 1.48 | %(5) | 6.66 | %(6) |
(1) | Reflects deduction of the maximum Class A sales charge of 5.75%. |
(2) | Reflects deduction of the Class B deferred sales charge of 5% and 2%, respectively, for the 1 year and 5 year returns. |
(3) | Reflects deduction of the Class C deferred sales charge of 1% for the 1 year return. |
(4) | Since inception performance for the index is shown from January 1, 2006. |
(5) | Since inception performance for the index is shown from February 1, 2006. |
(6) | Since inception performance for the index is shown from August 1, 2009. |
* | Performance from since inception through March 7, 2010, reflects that of Class Q shares. On March 8, 2010, Class Q shareholders of the Fund were converted to Class W shares. |
ING INTERNATIONAL CORE FUND | PORTFOLIO MANAGERS’ REPORT |
Country Allocation as of October 31, 2011 (as a percentage of net assets) | ||||||||
United Kingdom | 21.0 | % | ||||||
Japan | 10.5 | % | ||||||
France | 9.8 | % | ||||||
Germany | 9.3 | % | ||||||
Switzerland | 9.3 | % | ||||||
China | 5.1 | % | ||||||
Canada | 4.9 | % | ||||||
Brazil | 4.4 | % | ||||||
South Korea | 3.2 | % | ||||||
United States | 2.1 | % | ||||||
Countries between 0.1%–2.2%ˆ | 16.6 | % | ||||||
Assets in Excess of Other Liabilities* | 3.8 | % | ||||||
Net Assets | 100.0 | % | ||||||
* | Includes short-term investments. | |||||||
ˆ | Includes 19 countries, which each represents 0.1%–2.2% of net assets. | |||||||
Portfolio holdings are subject to change daily. |
Top Ten Holdings as of October 31, 2011* (as a percentage of net assets) | |||||||
BG Group PLC | 2.1 | % | |||||
SAP AG | 1.9 | % | |||||
Vodafone Group PLC | 1.8 | % | |||||
Tesco PLC | 1.8 | % | |||||
British American Tobacco PLC | 1.7 | % | |||||
Standard Chartered PLC | 1.5 | % | |||||
Teva Pharmaceutical Industries Ltd. ADR | 1.4 | % | |||||
Mitsubishi UFJ Financial Group, Inc. | 1.4 | % | |||||
National Grid PLC | 1.4 | % | |||||
Imperial Tobacco Group PLC | 1.4 | % | |||||
* Excludes short-term investments. | |||||||
Portfolio holdings are subject to change daily. |
(1) | For purposes of these discussions, “the fund” refers to each Sub-Adviser’s respectively managed portion of ING International Core Fund. |
PORTFOLIO MANAGERS’ REPORT | ING INTERNATIONAL CORE FUND |
Cumulative Total Returns for the Periods Ended October 31, 2011 | ||||||||
---|---|---|---|---|---|---|---|---|
Since Inception of Class I February 8, 2011 | ||||||||
Class I | (11.70 | )% | ||||||
MSCI EAFE® Index | (10.89 | )% | ||||||
MSCI ACWI ex-US | (11.19 | )% |
performance may be lower or higher than the performance data shown. Please log on to www.ingfunds.com or call (800) 992-0180 to get performance through the most recent month end.
ING INTERNATIONAL GROWTH FUND | PORTFOLIO MANAGERS’ REPORT |
Country Allocation as of October 31, 2011 (as a percentage of net assets) | ||||||||
United Kingdom | 21.0 | % | ||||||
Japan | 12.9 | % | ||||||
Switzerland | 9.1 | % | ||||||
France | 5.0 | % | ||||||
China | 4.8 | % | ||||||
Australia | 4.7 | % | ||||||
Sweden | 4.4 | % | ||||||
Brazil | 3.9 | % | ||||||
Hong Kong | 3.9 | % | ||||||
Denmark | 3.8 | % | ||||||
Countries between 0.1%–3.3%ˆ | 25.6 | % | ||||||
Assets in Excess of Other Liabilities* | 0.9 | % | ||||||
Net Assets | 100.0 | % | ||||||
* | Includes short-term investments. | |||||||
ˆ | Includes 24 countries, which each represents 0.1%–3.3% of net assets. | |||||||
Portfolio holdings are subject to change daily. |
Top Ten Holdings as of October 31, 2011 (as a percentage of net assets) | |||||||
Nestle S.A. | 1.8 | % | |||||
Roche Holding AG — Genusschein | 1.8 | % | |||||
Carlsberg A/S | 1.6 | % | |||||
BHP Billiton PLC | 1.5 | % | |||||
Svenska Handelsbanken AB | 1.4 | % | |||||
Atlas Copco AB — Class B | 1.4 | % | |||||
Cochlear Ltd. | 1.3 | % | |||||
Li & Fung Ltd. | 1.3 | % | |||||
Itau Unibanco Holding SA ADR | 1.2 | % | |||||
Samsung Electronics Co., Ltd. GDR | 1.2 | % | |||||
Portfolio holdings are subject to change daily. |
(1) | For purposes of these discussions, “the fund” refers to each Sub-Adviser’s respectively managed portion of ING International Growth Fund. |
PORTFOLIO MANAGERS’ REPORT | ING INTERNATIONAL GROWTH FUND |
Cumulative Total Returns for the Periods Ended October 31, 2011 | ||||||||
---|---|---|---|---|---|---|---|---|
Since Inception of Class I January 6, 2011 | ||||||||
Class I | (7.00 | )% | ||||||
MSCI EAFE® Index | (6.18 | )% | ||||||
MSCI ACWI ex-US | (7.66 | )% |
ING INTERNATIONAL REAL ESTATE FUND | PORTFOLIO MANAGERS’ REPORT |
Country Allocation as of October 31, 2011 (as a percentage of net assets) | ||||||||
Japan | 22.7 | % | ||||||
Hong Kong | 19.6 | % | ||||||
Australia | 17.1 | % | ||||||
United Kingdom | 9.7 | % | ||||||
Singapore | 8.7 | % | ||||||
France | 7.4 | % | ||||||
Canada | 5.5 | % | ||||||
Switzerland | 1.9 | % | ||||||
Sweden | 1.8 | % | ||||||
Netherlands | 1.4 | % | ||||||
Countries between 0.2%–1.2%ˆ | 3.4 | % | ||||||
Assets in Excess of Other Liabilities | 0.8 | % | ||||||
Net Assets | 100.0 | % | ||||||
ˆ | Includes 6 countries, which each represents 0.2%–1.2% of net assets. | |||||||
Portfolio holdings are subject to change daily. |
Top Ten Holdings as of October 31, 2011 (as a percentage of net assets) | |||||||
Mitsubishi Estate Co., Ltd. | 5.7 | % | |||||
Sun Hung Kai Properties Ltd. | 4.9 | % | |||||
Westfield Group | 4.7 | % | |||||
Cheung Kong Holdings Ltd. | 4.6 | % | |||||
Unibail | 4.6 | % | |||||
Mitsui Fudosan Co., Ltd. | 4.3 | % | |||||
Hang Lung Properties Ltd. | 2.9 | % | |||||
Westfield Retail Trust | 2.5 | % | |||||
CapitaLand Ltd. | 2.4 | % | |||||
Link Real Estate Investment Trust | 2.2 | % | |||||
Portfolio holdings are subject to change daily. |
* | ING Groep, NV, the indirect parent of both ING Investments, LLC, the Investment Adviser to International Real Estate and ING Clarion Real Estate Securities, LLC (“Clarion”), the Sub-Adviser to International Real Estate, agreed to sell Clarion and other affiliated entities to CB Richard Ellis Group, Inc. (the “Transaction”). The completion of the Transaction also resulted in a name change for Clarion to CBRE Clarion Securities LLC (“CBRE Clarion”). In anticipation of the Transaction, on June 14, 2011, the Fund’s shareholders approved a new sub-advisory agreements between ING Investments, LLC and CBRE Clarion on the same terms, compensation structure and portfolio management teams as was in place under the Fund’s previous sub-advisory agreement with Clarion and was effective upon the close of the Transaction. The Transaction closed on July 1, 2011. Effective March 31, 2011, Mr. Smith was added as a portfolio manager to the Fund. |
PORTFOLIO MANAGERS’ REPORT | ING INTERNATIONAL REAL ESTATE FUND |
Average Annual Total Returns for the Periods Ended October 31, 2011 | ||||||||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
1 Year | 5 Year | Since Inception of Classes A, B, C and I February 28, 2006 | Since Inception of Class W February 12, 2008 | |||||||||||||||||
Including Sales Charge: | ||||||||||||||||||||
Class A(1) | (12.31 | )% | (4.56 | )% | (1.34 | )% | — | |||||||||||||
Class B(2) | (12.20 | )% | (4.46 | )% | (1.20 | )% | — | |||||||||||||
Class C(3) | (8.52 | )% | (4.14 | )% | (1.06 | )% | — | |||||||||||||
Class I | (6.75 | )% | (3.13 | )% | (0.01 | )% | — | |||||||||||||
Class W | (6.76 | )% | — | — | (5.40 | )% | ||||||||||||||
Excluding Sales Charge: | ||||||||||||||||||||
Class A | (6.96 | )% | (3.42 | )% | (0.31 | )% | — | |||||||||||||
Class B | (7.79 | )% | (4.14 | )% | (1.05 | )% | — | |||||||||||||
Class C | (7.64 | )% | (4.14 | )% | (1.06 | )% | — | |||||||||||||
Class I | (6.75 | )% | (3.13 | )% | (0.01 | )% | — | |||||||||||||
Class W | (6.76 | )% | — | — | (5.40 | )% | ||||||||||||||
S&P Developed ex-US Property Index | (4.08 | )% | (3.62 | )% | (0.08 | )%(4) | (5.54 | )%(5) |
(1) | Reflects deduction of the maximum Class A sales charge of 5.75%. |
(2) | Reflects deduction of the Class B deferred sales charge of 5% and 2%, respectively, for the 1 year and 5 year returns. |
(3) | Reflects deduction of the Class C deferred sales charge of 1% for the 1 year return. |
(4) | Since inception performance for the index is shown from March 1, 2006. |
(5) | Since inception performance for the index is shown from February 1, 2008. |
ING INTERNATIONAL SMALLCAP MULTI-MANAGER FUND | PORTFOLIO MANAGERS’ REPORT |
Country Allocation as of October 31, 2011 (as a percentage of net assets) | ||||||||
Japan | 19.7 | % | ||||||
United Kingdom | 16.7 | % | ||||||
Germany | 7.6 | % | ||||||
Australia | 7.6 | % | ||||||
France | 4.6 | % | ||||||
Canada | 3.8 | % | ||||||
Singapore | 3.8 | % | ||||||
South Korea | 3.7 | % | ||||||
Switzerland | 3.6 | % | ||||||
Hong Kong | 3.5 | % | ||||||
Countries between 0.0%–2.9%ˆ | 23.2 | % | ||||||
Assets in Excess of Other Liabilities* | 2.2 | % | ||||||
Net Assets | 100.0 | % | ||||||
* | Includes short-term investments. | |||||||
ˆ | Includes 33 countries, which each represents 0.0%–2.9% of net assets. | |||||||
Portfolio holdings are subject to change daily. |
Top Ten Holdings as of October 31, 2011 (as a percentage of net assets) | |||||||
Drax Group PLC | 0.9 | % | |||||
Freenet AG | 0.8 | % | |||||
Biosensors International Group Ltd. | 0.8 | % | |||||
Imtech NV | 0.7 | % | |||||
Aurubis AG | 0.7 | % | |||||
Delta Lloyd NV | 0.7 | % | |||||
SeAH Steel Corp. | 0.6 | % | |||||
DCC Group PLC | 0.6 | % | |||||
Draegerwerk AG & Co. KGaA | 0.6 | % | |||||
Ansell Ltd. | 0.6 | % | |||||
Portfolio holdings are subject to change daily. |
* | Effective March 23, 2011, Patrick J. McCafferty replaced Qi R. Zeng as a portfolio manager to the Fund. |
(1) | For purposes of these discussions, “the fund” refers to each Sub-Adviser’s respectively managed portion of ING International SmallCap Multi-Manager Fund. |
PORTFOLIO MANAGERS’ REPORT | ING INTERNATIONAL SMALLCAP |
Average Annual Total Returns for the Periods Ended October 31, 2011 | ||||||||||||||||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
1 Year | 5 Year | 10 Year | Since Inception of Class I December 21, 2005 | Since Inception of Class O June 4, 2008 | Since Inception of Class W February 12, 2008 | |||||||||||||||||||||||
Including Sales Charge: | ||||||||||||||||||||||||||||
Class A(1) | (10.85 | )% | (2.63 | )% | 6.65 | % | — | — | — | |||||||||||||||||||
Class B(2) | (10.75 | )% | (2.48 | )% | 6.57 | % | — | — | — | |||||||||||||||||||
Class C(3) | (6.96 | )% | (2.12 | )% | 6.58 | % | — | — | — | |||||||||||||||||||
Class I | (4.97 | )% | (1.00 | )% | — | 1.76 | % | — | — | |||||||||||||||||||
Class O | (5.32 | )% | — | — | — | (6.74 | )% | — | ||||||||||||||||||||
Class W | (5.08 | )% | — | — | — | — | (3.55 | )% | ||||||||||||||||||||
Excluding Sales Charge: | ||||||||||||||||||||||||||||
Class A | (5.41 | )% | (1.47 | )% | 7.28 | % | — | — | — | |||||||||||||||||||
Class B | (6.05 | )% | (2.15 | )% | 6.57 | % | — | — | — | |||||||||||||||||||
Class C | (6.02 | )% | (2.12 | )% | 6.58 | % | — | — | — | |||||||||||||||||||
Class I | (4.97 | )% | (1.00 | )% | — | 1.76 | % | — | — | |||||||||||||||||||
Class O | (5.32 | )% | — | — | — | (6.74 | )% | — | ||||||||||||||||||||
Class W | (5.08 | )% | — | — | — | — | (3.55 | )% | ||||||||||||||||||||
S&P Developed ex-US SmallCap Index | (1.50 | )% | (0.22 | )% | 10.67 | % | 2.93 | %(4) | (3.90 | )%(5) | (1.47 | )%(6) | ||||||||||||||||
S&P EPAC Smallcap Index | (2.01 | )% | (0.80 | )% | 10.23 | % | 2.46 | %(4) | (4.52 | )%(5) | (2.02 | )%(6) |
(1) | Reflects deduction of the maximum Class A sales charge of 5.75%. |
(2) | Reflects deduction of the Class B deferred sales charge of 5% and 2%, respectively, for the 1 year and 5 year returns. |
(3) | Reflects deduction of the Class C deferred sales charge of 1% for the 1 year return. |
(4) | Since inception performance for the index is shown from January 1, 2006. |
(5) | Since inception performance for the index is shown from June 1, 2008. |
(6) | Since inception performance for the index is shown from February 1, 2008. |
ING INTERNATIONAL VALUE CHOICE FUND | PORTFOLIO MANAGERS’ REPORT |
Country Allocation as of October 31, 2011 (as a percentage of net assets) | ||||||||
Japan | 30.5 | % | ||||||
Canada | 13.1 | % | ||||||
France | 11.1 | % | ||||||
United Kingdom | 9.2 | % | ||||||
South Korea | 4.6 | % | ||||||
South Africa | 4.6 | % | ||||||
Germany | 3.4 | % | ||||||
Australia | 3.2 | % | ||||||
Netherlands | 3.2 | % | ||||||
United States | 1.8 | % | ||||||
Countries between 0.9%–2.5%ˆ | 13.9 | % | ||||||
Assets in Excess of Other Liabilities* | 1.4 | % | ||||||
Net Assets | 100.0 | % | ||||||
* | Includes short-term investments. | |||||||
ˆ | Includes 8 countries, which each represents 0.9%–2.5% of net assets. | |||||||
Portfolio holdings are subject to change daily. |
Top Ten Holdings as of October 31, 2011 (as a percentage of net assets) | |||||||
Barrick Gold Corp. | 3.6 | % | |||||
Nippon Telegraph & Telephone Corp. ADR | 3.2 | % | |||||
Sanofi-Aventis | 2.9 | % | |||||
SK Telecom Co., Ltd. ADR | 2.8 | % | |||||
Cameco Corp. | 2.7 | % | |||||
AstraZeneca PLC | 2.6 | % | |||||
GlaxoSmithKline PLC | 2.6 | % | |||||
Dai Nippon Printing Co., Ltd. | 2.6 | % | |||||
AngloGold Ashanti Ltd ADR | 2.5 | % | |||||
Telecom Italia S.p.A. RNC | 2.5 | % | |||||
Portfolio holdings are subject to change daily. |
PORTFOLIO MANAGERS’ REPORT | ING INTERNATIONAL VALUE CHOICE FUND |
Average Annual Total Returns for the Periods Ended October 31, 2011 | ||||||||||||||||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
1 Year | 5 Year | Since Inception of Classes A and B February 1, 2005 | Since Inception of Class C February 4, 2005 | Since Inception of Class I December 21, 2005 | Since Inception of Class W June 1, 2009 | |||||||||||||||||||||||
Including Sales Charge: | ||||||||||||||||||||||||||||
Class A(1) | (12.19 | )% | (1.09 | )% | 2.79 | % | — | — | — | |||||||||||||||||||
Class B(2) | (12.23 | )% | (1.02 | )% | 2.89 | % | — | — | — | |||||||||||||||||||
Class C(3) | (8.47 | )% | (0.66 | )% | — | 2.91 | % | — | — | |||||||||||||||||||
Class I | (6.50 | )% | 0.45 | % | — | — | 2.42 | % | — | |||||||||||||||||||
Class W | (6.62 | )% | — | — | — | — | 5.00 | % | ||||||||||||||||||||
Excluding Sales Charge: | ||||||||||||||||||||||||||||
Class A | (6.82 | )% | 0.09 | % | 3.69 | % | — | — | — | |||||||||||||||||||
Class B | (7.61 | )% | (0.69 | )% | 2.89 | % | — | — | — | |||||||||||||||||||
Class C | (7.55 | )% | (0.66 | )% | — | 2.91 | % | — | — | |||||||||||||||||||
Class I | (6.50 | )% | 0.45 | % | — | — | 2.42 | % | — | |||||||||||||||||||
Class W | (6.62 | )% | — | — | — | — | 5.00 | % | ||||||||||||||||||||
MSCI EAFE® Index | (4.08 | )% | (2.41 | )% | 2.96 | % | 2.96 | %(4) | 0.88 | %(5) | 8.55 | % |
(1) | Reflects deduction of the maximum Class A sales charge of 5.75%. |
(2) | Reflects deduction of the Class B deferred sales charge of 5% and 2%, respectively, for the 1 year and 5 year returns. |
(3) | Reflects deduction of the Class C deferred sales charge of 1% for the 1 year return. |
(4) | Since inception performance for the index is shown from February 1, 2005. |
(5) | Since inception performance for the index is shown from January 1, 2006. |
ING INTERNATIONAL VALUE FUND | PORTFOLIO MANAGERS’ REPORT |
Country Allocation as of October 31, 2011 (as a percentage of net assets) | |||||||||
Japan | 23.9 | % | |||||||
United Kingdom | 17.3 | % | |||||||
France | 9.9 | % | |||||||
Germany | 8.7 | % | |||||||
Netherlands | 8.2 | % | |||||||
Italy | 5.2 | % | |||||||
Switzerland | 4.4 | % | |||||||
Canada | 3.1 | % | |||||||
Brazil | 2.4 | % | |||||||
United States | 2.0 | % | |||||||
Countries between 0.2%–2.0%ˆ | 16.1 | % | |||||||
Liabilities in Excess of Other Assets* | (1.2 | )% | |||||||
Net Assets | 100.0 | % | |||||||
* | Includes short-term investments. | ||||||||
ˆ | Includes 16 countries, which each represents 0.2%–2.0% of net assets. | ||||||||
Portfolio holdings are subject to change daily. |
PORTFOLIO MANAGERS’ REPORT | ING INTERNATIONAL VALUE FUND |
Top Ten Holdings as of October 31, 2011 (as a percentage of net assets) | |||||||
Sanofi-Aventis | 2.3 | % | |||||
Novartis AG | 2.2 | % | |||||
Seven & I Holdings Co., Ltd. | 1.9 | % | |||||
Royal Dutch Shell PLC — Class A | 1.9 | % | |||||
Total S.A. | 1.9 | % | |||||
ENI S.p.A. | 1.7 | % | |||||
Unilever NV | 1.7 | % | |||||
Telecom Italia S.p.A. RNC | 1.7 | % | |||||
Vodafone Group PLC | 1.6 | % | |||||
GlaxoSmithKline PLC | 1.6 | % | |||||
Portfolio holdings are subject to change daily. |
* | Effective February 11, 2011, del Rey was added as a third sub-adviser. |
(1) | Effective December 13, 2010, Philip A. Schwartz has left ING Investment Management, Co., and Martin Jansen joined the investment team as a portfolio manager for the Fund. Effective April 14, 2011, John Pairaktaridis was removed as a portfolio manager to the Fund and David Rabinowitz was added. |
(2) | For purposes of these discussions, “the fund” refers to each Sub-Adviser’s respectively managed portion of ING International Value Fund. |
ING INTERNATIONAL VALUE FUND | PORTFOLIO MANAGERS’ REPORT |
Average Annual Total Returns for the Periods Ended October 31, 2011 | ||||||||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
1 Year | 5 Year | 10 Year | Since Inception of Class W July 20, 2009 | |||||||||||||||||
Including Sales Charge: | ||||||||||||||||||||
Class A(1) | (13.61 | )% | (5.19 | )% | 5.03 | % | — | |||||||||||||
Class B(2) | (13.55 | )% | (4.98 | )% | 4.92 | % | — | |||||||||||||
Class C(3) | (9.88 | )% | (4.70 | )% | 4.94 | % | — | |||||||||||||
Class I | (8.04 | )% | (3.72 | )% | 6.06 | % | — | |||||||||||||
Class W | (8.06 | )% | — | — | 2.47 | % | ||||||||||||||
Excluding Sales Charge: | ||||||||||||||||||||
Class A | (8.33 | )% | (4.06 | )% | 5.65 | % | — | |||||||||||||
Class B | (9.00 | )% | (4.74 | )% | 4.92 | % | — | |||||||||||||
Class C | (8.98 | )% | (4.70 | )% | 4.94 | % | — | |||||||||||||
Class I | (8.04 | )% | (3.72 | )% | 6.06 | % | — | |||||||||||||
Class W | (8.06 | )% | — | — | 2.47 | % | ||||||||||||||
MSCI EAFE® Index | (4.08 | )% | (2.41 | )% | 5.73 | % | 5.31 | %(4) |
(1) | Reflects deduction of the maximum Class A sales charge of 5.75%. |
(2) | Reflects deduction of the Class B deferred sales charge of 5% and 2%, respectively, for the 1 year and 5 year returns. |
(3) | Reflects deduction of the Class C deferred sales charge of 1% for the 1 year return. |
(4) | Since inception performance for the index is shown from August 1, 2009. |
ING RUSSIA FUND | PORTFOLIO MANAGERS’ REPORT |
Sector Diversification as of October 31, 2011 (as a percentage of net assets) | ||||||||
Energy | 32.6 | % | ||||||
Materials | 22.1 | % | ||||||
Financials | 18.6 | % | ||||||
Consumer Staples | 7.8 | % | ||||||
Utilities | 5.9 | % | ||||||
Telecommunications | 4.3 | % | ||||||
Industrials | 1.7 | % | ||||||
Information Technology | 0.9 | % | ||||||
Consumer Discretionary | 0.9 | % | ||||||
Health Care | 0.8 | % | ||||||
Assets in Excess of Other Liabilities* | 4.4 | % | ||||||
Net Assets | 100.0 | % | ||||||
* | Includes short-term investments. | |||||||
Portfolio holdings are subject to change daily. |
Top Ten Holdings as of October 31, 2011 (as a percentage of net assets) | |||||||
Sberbank of Russian Federation | 10.3 | % | |||||
Lukoil-Spon | 7.8 | % | |||||
NovaTek OAO GDR | 7.4 | % | |||||
Uralkali GDR | 6.0 | % | |||||
Magnit OAO | 5.6 | % | |||||
Gazprom OAO | 5.0 | % | |||||
VTB Bank OJSC GDR | 4.8 | % | |||||
Rosneft Oil Co. GDR | 4.2 | % | |||||
MMC Norilsk Nickel ADR | 4.0 | % | |||||
Tatneft ADR | 2.7 | % | |||||
Portfolio holdings are subject to change daily. |
* | Effective April 1, 2011, Mr. Vergeer was re-appointed as a portfolio manager to the Fund. |
PORTFOLIO MANAGERS’ REPORT | ING RUSSIA FUND |
Average Annual Total Returns for the Periods Ended October 31, 2011 | ||||||||||||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
1 Year | 5 Year | 10 Year | Since Inception of Class I September 30, 2009 | Since Inception of Class W August 5, 2011 | ||||||||||||||||||||
Including Sales Charge: | ||||||||||||||||||||||||
Class A(1) | (13.50 | )% | (0.04 | )% | 21.48 | % | — | — | ||||||||||||||||
Class I | (7.78 | )% | — | — | 8.93 | % | — | |||||||||||||||||
Class W | — | — | — | — | (14.65 | )% | ||||||||||||||||||
Excluding Sales Charge: | ||||||||||||||||||||||||
Class A | (8.21 | )% | 1.15 | % | 22.20 | % | — | — | ||||||||||||||||
Class I | (7.78 | )% | — | — | 8.93 | % | — | |||||||||||||||||
Class W | — | — | — | — | (14.65 | )% | ||||||||||||||||||
RTS Index | 0.21 | % | 0.47 | % | 24.19 | % | 12.57 | %(2) | (20.41 | )%(3) | ||||||||||||||
MSCI Russia 10/40 IndexSM | (1.97 | )% | 4.79 | % | N/A | 11.70 | %(2) | (20.82 | )%(3) |
(1) | Reflects deduction of the maximum Class A sales charge of 5.75%. |
(2) | Since inception performance for the index is shown from October 1, 2009. |
(3) | Since inception performance for the index is shown from August 1, 2011. |
* | Redemptions on shares held less than 365 days are subject to a redemption fee of 2% of the redemption proceeds. |
Actual Fund Return | | Hypothetical (5% return before expenses) | | ||||||||||||||||||||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Beginning Account Value May 1, 2011 | Ending Account Value October 31, 2011 | Annualized Expense Ratio | Expenses Paid During the Period Ended October 31, 2011* | Beginning Account Value May 1, 2011 | Ending Account Value October 31, 2011 | Annualized Expense Ratio | Expenses Paid During the Period Ended October 31, 2011* | ||||||||||||||||||||||||||||
ING Diversified International Fund** | |||||||||||||||||||||||||||||||||||
Class A | $ | 1,000.00 | $ | 833.70 | 0.50 | % | $ | 2.31 | $ | 1,000.00 | $ | 1,022.68 | 0.50 | % | $ | 2.55 | |||||||||||||||||||
Class B | 1,000.00 | 830.40 | 1.25 | 5.77 | 1,000.00 | 1,018.90 | 1.25 | 6.36 | |||||||||||||||||||||||||||
Class C | 1,000.00 | 830.90 | 1.25 | 5.77 | 1,000.00 | 1,018.90 | 1.25 | 6.36 | |||||||||||||||||||||||||||
Class I | 1,000.00 | 835.10 | 0.25 | 1.16 | 1,000.00 | 1,023.95 | 0.25 | 1.28 | |||||||||||||||||||||||||||
Class O | 1,000.00 | 834.30 | 0.50 | 2.31 | 1,000.00 | 1,022.68 | 0.50 | 2.55 | |||||||||||||||||||||||||||
Class R | 1,000.00 | 833.70 | 0.75 | 3.47 | 1,000.00 | 1,021.42 | 0.75 | 3.82 | |||||||||||||||||||||||||||
Class W | 1,000.00 | 834.60 | 0.25 | 1.16 | 1,000.00 | 1,023.95 | 0.25 | 1.28 |
* | Expenses are equal to each Fund’s respective annualized expense ratios multiplied by the average account value over the period, multiplied by 184/365 to reflect the most recent fiscal half-year. |
** | The annualized expense ratios do not include expenses of underlying funds. |
Actual Fund Return | | Hypothetical (5% return before expenses) | | ||||||||||||||||||||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Beginning Account Value May 1, 2011 | Ending Account Value October 31, 2011 | Annualized Expense Ratio | Expenses Paid During the Period Ended October 31, 2011* | Beginning Account Value May 1, 2011 | Ending Account Value October 31, 2011 | Annualized Expense Ratio | Expenses Paid During the Period Ended October 31, 2011* | ||||||||||||||||||||||||||||
ING Emerging Countries Fund | |||||||||||||||||||||||||||||||||||
Class A | $ | 1,000.00 | $ | 805.40 | 1.81 | % | $ | 8.24 | $ | 1,000.00 | $ | 1,016.08 | 1.81 | % | $ | 9.20 | |||||||||||||||||||
Class B | 1,000.00 | 802.60 | 2.56 | 11.63 | 1,000.00 | 1,012.30 | 2.56 | 12.98 | |||||||||||||||||||||||||||
Class C | 1,000.00 | 802.50 | 2.56 | 11.63 | 1,000.00 | 1,012.30 | 2.56 | 12.98 | |||||||||||||||||||||||||||
Class I | 1,000.00 | 807.50 | 1.40 | 6.38 | 1,000.00 | 1,018.15 | 1.40 | 7.12 | |||||||||||||||||||||||||||
Class W | 1,000.00 | 806.80 | 1.56 | 7.10 | 1,000.00 | 1,017.34 | 1.56 | 7.93 | |||||||||||||||||||||||||||
ING Emerging Markets Equity Fund | |||||||||||||||||||||||||||||||||||
Class A(1) | $ | 1,000.00 | $ | 1,074.00 | 1.50 | % | $ | 0.89 | $ | 1,000.00 | $ | 1,017.64 | 1.50 | % | $ | 7.63 | |||||||||||||||||||
Class C(1) | 1,000.00 | 1,073.00 | 2.25 | 1.34 | 1,000.00 | 1,013.86 | 2.25 | 11.42 | |||||||||||||||||||||||||||
Class I(1) | 1,000.00 | 1,074.00 | 1.25 | 0.75 | 1,000.00 | 1,018.90 | 1.25 | 6.36 | |||||||||||||||||||||||||||
Class R(1) | 1,000.00 | 1,074.00 | 1.75 | 1.04 | 1,000.00 | 1,016.38 | 1.75 | 8.89 | |||||||||||||||||||||||||||
Class W(1) | 1,000.00 | 1,074.00 | 1.25 | 0.75 | 1,000.00 | 1,018.90 | 1.25 | 6.36 | |||||||||||||||||||||||||||
ING Global Bond Fund | |||||||||||||||||||||||||||||||||||
Class A | $ | 1,000.00 | $ | 992.90 | 0.90 | % | $ | 4.52 | $ | 1,000.00 | $ | 1,020.67 | 0.90 | % | $ | 4.58 | |||||||||||||||||||
Class B | 1,000.00 | 989.00 | 1.65 | 8.27 | 1,000.00 | 1,016.89 | 1.65 | 8.39 | |||||||||||||||||||||||||||
Class C | 1,000.00 | 989.10 | 1.65 | 8.27 | 1,000.00 | 1,016.89 | 1.65 | 8.39 | |||||||||||||||||||||||||||
Class I | 1,000.00 | 994.60 | 0.56 | 2.82 | 1,000.00 | 1,022.38 | 0.56 | 2.85 | |||||||||||||||||||||||||||
Class O | 1,000.00 | 993.60 | 0.90 | 4.52 | 1,000.00 | 1,020.67 | 0.90 | 4.58 | |||||||||||||||||||||||||||
Class R(2) | 1,000.00 | 984.10 | 1.15 | 2.75 | 1,000.00 | 1,019.41 | 1.15 | 5.85 | |||||||||||||||||||||||||||
Class W | 1,000.00 | 994.00 | 0.65 | 3.27 | 1,000.00 | 1,021.93 | 0.65 | 3.31 | |||||||||||||||||||||||||||
ING Global Equity Dividend Fund | |||||||||||||||||||||||||||||||||||
Class A | $ | 1,000.00 | $ | 901.10 | 1.40 | % | $ | 6.71 | $ | 1,000.00 | $ | 1,018.15 | 1.40 | % | $ | 7.12 | |||||||||||||||||||
Class B | 1,000.00 | 898.10 | 2.15 | 10.29 | 1,000.00 | 1,014.37 | 2.15 | 10.92 | |||||||||||||||||||||||||||
Class C | 1,000.00 | 898.80 | 2.15 | 10.29 | 1,000.00 | 1,014.37 | 2.15 | 10.92 | |||||||||||||||||||||||||||
Class I | 1,000.00 | 902.80 | 1.01 | 4.84 | 1,000.00 | 1,020.11 | 1.01 | 5.14 | |||||||||||||||||||||||||||
Class O | 1,000.00 | 900.90 | 1.40 | 6.71 | 1,000.00 | 1,018.15 | 1.40 | 7.12 | |||||||||||||||||||||||||||
Class W | 1,000.00 | 901.80 | 1.15 | 5.51 | 1,000.00 | 1,019.41 | 1.15 | 5.85 | |||||||||||||||||||||||||||
ING Global Natural Resources Fund | |||||||||||||||||||||||||||||||||||
Class A | $ | 1,000.00 | $ | 830.20 | 1.46 | % | $ | 6.74 | $ | 1,000.00 | $ | 1,017.85 | 1.46 | % | $ | 7.43 | |||||||||||||||||||
Class I | 1,000.00 | 830.80 | 1.13 | 5.21 | 1,000.00 | 1,019.51 | 1.13 | 5.75 | |||||||||||||||||||||||||||
Class W | 1,000.00 | 831.10 | 1.21 | 5.58 | 1,000.00 | 1,019.11 | 1.21 | 6.16 | |||||||||||||||||||||||||||
ING Global Opportunities Fund | |||||||||||||||||||||||||||||||||||
Class A | $ | 1,000.00 | $ | 853.40 | 1.51 | % | $ | 7.05 | $ | 1,000.00 | $ | 1,017.59 | 1.51 | % | $ | 7.68 | |||||||||||||||||||
Class B | 1,000.00 | 849.90 | 2.26 | 10.54 | 1,000.00 | 1,013.81 | 2.26 | 11.47 | |||||||||||||||||||||||||||
Class C | 1,000.00 | 849.90 | 2.26 | 10.54 | 1,000.00 | 1,013.81 | 2.26 | 11.47 | |||||||||||||||||||||||||||
Class I | 1,000.00 | 855.00 | 1.06 | 4.96 | 1,000.00 | 1,019.86 | 1.06 | 5.40 | |||||||||||||||||||||||||||
Class W | 1,000.00 | 854.20 | 1.26 | 5.89 | 1,000.00 | 1,018.85 | 1.26 | 6.41 |
* | Expenses are equal to each Fund’s respective annualized expense ratios multiplied by the average account value over the period, multiplied by 184/365 to reflect the most recent fiscal half-year. |
(1) | Commencement of operations was October 11, 2011. Expenses paid for the Actual Fund Return reflect the 21-day period ended October 31, 2011. |
(2) | Commencement of operations was August 5, 2011. Expenses paid for the Actual Fund Return reflect the 88-day period ended October 31, 2011. |
Actual Fund Return | | Hypothetical (5% return before expenses) | | ||||||||||||||||||||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Beginning Account Value May 1, 2011 | Ending Account Value October 31, 2011 | Annualized Expense Ratio | Expenses Paid During the Period Ended October 31, 2011* | Beginning Account Value May 1, 2011 | Ending Account Value October 31, 2011 | Annualized Expense Ratio | Expenses Paid During the Period Ended October 31, 2011* | ||||||||||||||||||||||||||||
ING Global Real Estate Fund | |||||||||||||||||||||||||||||||||||
Class A | $ | 1,000.00 | $ | 912.00 | 1.31 | % | $ | 6.31 | $ | 1,000.00 | $ | 1,018.60 | 1.31 | % | $ | 6.67 | |||||||||||||||||||
Class B | 1,000.00 | 908.40 | 2.06 | 9.91 | 1,000.00 | 1,014.82 | 2.06 | 10.46 | |||||||||||||||||||||||||||
Class C | 1,000.00 | 908.80 | 2.06 | 9.91 | 1,000.00 | 1,014.82 | 2.06 | 10.46 | |||||||||||||||||||||||||||
Class I | 1,000.00 | 913.70 | 0.99 | 4.78 | 1,000.00 | 1,020.21 | 0.99 | 5.04 | |||||||||||||||||||||||||||
Class O | 1,000.00 | 912.00 | 1.31 | 6.31 | 1,000.00 | 1,018.60 | 1.31 | 6.67 | |||||||||||||||||||||||||||
Class R(2) | 1,000.00 | 1,019.80 | 1.56 | 3.80 | 1,000.00 | 1,017.34 | 1.56 | 7.93 | |||||||||||||||||||||||||||
Class W | 1,000.00 | 912.80 | 1.06 | 5.11 | 1,000.00 | 1,019.86 | 1.06 | 5.40 | |||||||||||||||||||||||||||
ING Global Value Choice Fund | |||||||||||||||||||||||||||||||||||
Class A | $ | 1,000.00 | $ | 907.60 | 1.43 | % | $ | 6.88 | $ | 1,000.00 | $ | 1,018.00 | 1.43 | % | $ | 7.27 | |||||||||||||||||||
Class B | 1,000.00 | 904.20 | 2.18 | 10.46 | 1,000.00 | 1,014.22 | 2.18 | 11.07 | |||||||||||||||||||||||||||
Class C | 1,000.00 | 904.10 | 2.18 | 10.46 | 1,000.00 | 1,014.22 | 2.18 | 11.07 | |||||||||||||||||||||||||||
Class I | 1,000.00 | 909.30 | 1.08 | 5.20 | 1,000.00 | 1,019.76 | 1.08 | 5.50 | |||||||||||||||||||||||||||
Class W | 1,000.00 | 908.80 | 1.18 | 5.68 | 1,000.00 | 1,019.26 | 1.18 | 6.01 | |||||||||||||||||||||||||||
ING Greater China Fund | |||||||||||||||||||||||||||||||||||
Class A | $ | 1,000.00 | $ | 829.80 | 2.10 | % | $ | 9.69 | $ | 1,000.00 | $ | 1,014.62 | 2.10 | % | $ | 10.66 | |||||||||||||||||||
Class B | 1,000.00 | 827.30 | 2.85 | 13.13 | 1,000.00 | 1,010.84 | 2.85 | 14.44 | |||||||||||||||||||||||||||
Class C | 1,000.00 | 826.80 | 2.85 | 13.12 | 1,000.00 | 1,010.84 | 2.85 | 14.44 | |||||||||||||||||||||||||||
Class I | 1,000.00 | 832.20 | 1.77 | 8.17 | 1,000.00 | 1,016.28 | 1.77 | 9.00 | |||||||||||||||||||||||||||
Class O | 1,000.00 | 830.10 | 2.10 | 9.69 | 1,000.00 | 1,014.62 | 2.10 | 10.66 | |||||||||||||||||||||||||||
Class W(2) | 1,000.00 | 917.50 | 1.85 | 4.28 | 1,000.00 | 1,015.88 | 1.85 | 9.40 | |||||||||||||||||||||||||||
ING Index Plus International Equity Fund | |||||||||||||||||||||||||||||||||||
Class A | $ | 1,000.00 | $ | 835.50 | 1.15 | % | $ | 5.32 | $ | 1,000.00 | $ | 1,019.41 | 1.15 | % | $ | 5.85 | |||||||||||||||||||
Class B | 1,000.00 | 832.30 | 1.90 | 8.77 | 1,000.00 | 1,015.63 | 1.90 | 9.65 | |||||||||||||||||||||||||||
Class C | 1,000.00 | 831.90 | 1.90 | 8.77 | 1,000.00 | 1,015.63 | 1.90 | 9.65 | |||||||||||||||||||||||||||
Class I | 1,000.00 | 836.90 | 0.71 | 3.29 | 1,000.00 | 1,021.63 | 0.71 | 3.62 | |||||||||||||||||||||||||||
Class O | 1,000.00 | 835.30 | 1.15 | 5.32 | 1,000.00 | 1,019.41 | 1.15 | 5.85 | |||||||||||||||||||||||||||
Class W(2) | 1,000.00 | 982.30 | 0.90 | 2.15 | 1,000.00 | 1,020.67 | 0.90 | 4.58 | |||||||||||||||||||||||||||
ING International Capital Appreciation Fund | |||||||||||||||||||||||||||||||||||
Class A | $ | 1,000.00 | $ | 791.20 | 1.47 | % | $ | 6.64 | $ | 1,000.00 | $ | 1,017.80 | 1.47 | % | $ | 7.48 | |||||||||||||||||||
Class B | 1,000.00 | 787.50 | 2.22 | 10.00 | 1,000.00 | 1,014.01 | 2.22 | 11.27 | |||||||||||||||||||||||||||
Class C | 1,000.00 | 788.20 | 2.22 | 10.01 | 1,000.00 | 1,014.01 | 2.22 | 11.27 | |||||||||||||||||||||||||||
Class I | 1,000.00 | 791.70 | 1.02 | 4.61 | 1,000.00 | 1,020.06 | 1.02 | 5.19 | |||||||||||||||||||||||||||
Class W | 1,000.00 | 792.20 | 1.22 | 5.51 | 1,000.00 | 1,019.06 | 1.22 | 6.21 | |||||||||||||||||||||||||||
ING International Core Fund | |||||||||||||||||||||||||||||||||||
Class I | 1,000.00 | 837.00 | 0.95 | 4.40 | 1,000.00 | 1,020.42 | 0.95 | 4.84 | |||||||||||||||||||||||||||
ING International Growth Fund | |||||||||||||||||||||||||||||||||||
Class I | 1,000.00 | 854.00 | 0.99 | 4.63 | 1,000.00 | 1,020.21 | 0.99 | 5.04 |
* | Expenses are equal to each Fund’s respective annualized expense ratios multiplied by the average account value over the period, multiplied by 184/365 to reflect the most recent fiscal half-year. |
(2) | Commencement of operations was August 5, 2011. Expenses paid for the Actual Fund Return reflect the 88-day period ended October 31, 2011. |
Actual Fund Return | | Hypothetical (5% return before expenses) | | ||||||||||||||||||||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Beginning Account Value May 1, 2011 | Ending Account Value October 31, 2011 | Annualized Expense Ratio | Expenses Paid During the Period Ended October 31, 2011* | Beginning Account Value May 1, 2011 | Ending Account Value October 31, 2011 | Annualized Expense Ratio | Expenses Paid During the Period Ended October 31, 2011* | ||||||||||||||||||||||||||||
ING International Real Estate Fund | |||||||||||||||||||||||||||||||||||
Class A | $ | 1,000.00 | $ | 868.60 | 1.47 | % | $ | 6.92 | $ | 1,000.00 | $ | 1,017.80 | 1.47 | % | $ | 7.48 | |||||||||||||||||||
Class B | 1,000.00 | 864.60 | 2.22 | 10.43 | 1,000.00 | 1,014.01 | 2.22 | 11.27 | |||||||||||||||||||||||||||
Class C | 1,000.00 | 865.60 | 2.22 | 10.44 | 1,000.00 | 1,014.01 | 2.22 | 11.27 | |||||||||||||||||||||||||||
Class I | 1,000.00 | 870.40 | 1.14 | 5.37 | 1,000.00 | 1,019.46 | 1.14 | 5.80 | |||||||||||||||||||||||||||
Class W | 1,000.00 | 869.40 | 1.22 | 5.75 | 1,000.00 | 1,019.06 | 1.22 | 6.21 | |||||||||||||||||||||||||||
ING International SmallCap Multi-Manager Fund | |||||||||||||||||||||||||||||||||||
Class A | $ | 1,000.00 | $ | 811.70 | 1.70 | % | $ | 7.76 | $ | 1,000.00 | $ | 1,016.64 | 1.70 | % | $ | 8.64 | |||||||||||||||||||
Class B | 1,000.00 | 808.80 | 2.35 | 10.71 | 1,000.00 | 1,013.36 | 2.35 | 11.93 | |||||||||||||||||||||||||||
Class C | 1,000.00 | 808.90 | 2.35 | 10.71 | 1,000.00 | 1,013.36 | 2.35 | 11.93 | |||||||||||||||||||||||||||
Class I | 1,000.00 | 813.30 | 1.25 | 5.71 | 1,000.00 | 1,018.90 | 1.25 | 6.36 | |||||||||||||||||||||||||||
Class O | 1,000.00 | 812.10 | 1.60 | 7.31 | 1,000.00 | 1,017.14 | 1.60 | 8.13 | |||||||||||||||||||||||||||
Class W | 1,000.00 | 813.00 | 1.35 | 6.17 | 1,000.00 | 1,018.40 | 1.35 | 6.87 | |||||||||||||||||||||||||||
ING International Value Choice Fund | |||||||||||||||||||||||||||||||||||
Class A | $ | 1,000.00 | $ | 859.90 | 1.60 | % | $ | 7.50 | $ | 1,000.00 | $ | 1,017.14 | 1.60 | % | $ | 8.13 | |||||||||||||||||||
Class B | 1,000.00 | 855.50 | 2.35 | 10.99 | 1,000.00 | 1,013.36 | 2.35 | 11.93 | |||||||||||||||||||||||||||
Class C | 1,000.00 | 855.70 | 2.35 | 10.99 | 1,000.00 | 1,013.36 | 2.35 | 11.93 | |||||||||||||||||||||||||||
Class I | 1,000.00 | 860.80 | 1.28 | 6.00 | 1,000.00 | 1,018.75 | 1.28 | 6.51 | |||||||||||||||||||||||||||
Class W | 1,000.00 | 860.80 | 1.35 | 6.33 | 1,000.00 | 1,018.40 | 1.35 | 6.87 | |||||||||||||||||||||||||||
ING International Value Fund | |||||||||||||||||||||||||||||||||||
Class A | $ | 1,000.00 | $ | 832.60 | 1.64 | % | $ | 7.58 | $ | 1,000.00 | $ | 1,016.94 | 1.64 | % | $ | 8.34 | |||||||||||||||||||
Class B | 1,000.00 | 829.60 | 2.34 | 10.79 | 1,000.00 | 1,013.41 | 2.34 | 11.88 | |||||||||||||||||||||||||||
Class C | 1,000.00 | 829.10 | 2.34 | 10.79 | 1,000.00 | 1,013.41 | 2.34 | 11.88 | |||||||||||||||||||||||||||
Class I | 1,000.00 | 833.80 | 1.28 | 5.92 | 1,000.00 | 1,018.75 | 1.28 | 6.51 | |||||||||||||||||||||||||||
Class W | 1,000.00 | 833.60 | 1.34 | 6.19 | 1,000.00 | 1,018.45 | 1.34 | 6.82 | |||||||||||||||||||||||||||
ING Russia Fund | |||||||||||||||||||||||||||||||||||
Class A | $ | 1,000.00 | $ | 759.90 | 2.03 | % | $ | 9.00 | $ | 1,000.00 | $ | 1,014.97 | 2.03 | % | $ | 10.31 | |||||||||||||||||||
Class I | 1,000.00 | 762.60 | 1.73 | 7.69 | 1,000.00 | 1,016.48 | 1.73 | 8.79 | |||||||||||||||||||||||||||
Class W(2) | 1,000.00 | 853.50 | 1.78 | 3.98 | 1,000.00 | 1,016.23 | 1.78 | 9.05 |
* | Expenses are equal to each Fund’s respective annualized expense ratios multiplied by the average account value over the period, multiplied by 184/365 to reflect the most recent fiscal half-year. |
(2) | Commencement of operations was August 5, 2011. Expenses paid for the Actual Fund Return reflect the 88-day period ended October 31, 2011. |
ING Mutual Funds and ING Mayflower Trust
December 22, 2011
ING Diversified International Fund | ING Emerging Countries Fund | ING Emerging Markets Equity Fund | ING Global Bond Fund | |||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
ASSETS: | ||||||||||||||||||
Investments in securities at value+* | $ | — | $ | 83,147,181 | $ | 81,994,784 | $ | 574,278,565 | ||||||||||
Investments in affiliated underlying funds** | 128,961,705 | — | — | — | ||||||||||||||
Short-term investments at value*** | — | 2,183,135 | — | 15,069,000 | ||||||||||||||
Short-term investments at amortized cost | — | — | — | 17,249,438 | ||||||||||||||
Cash | 1,226,097 | 1,922,780 | 8,127,800 | 1,593,851 | ||||||||||||||
Cash collateral for futures | — | — | — | 5,413,943 | ||||||||||||||
Receivable for derivatives collateral (Note 2) | — | — | 707,000 | 12,010,000 | ||||||||||||||
Foreign currencies at value***** | — | 656,413 | 1,156,653 | 10,389,453 | ||||||||||||||
Foreign cash collateral for futures****** | — | — | — | 416,656 | ||||||||||||||
Receivables: | ||||||||||||||||||
Investments in affiliated underlying funds sold | 139,565 | — | — | — | ||||||||||||||
Investments securities sold | — | 1,164,127 | — | 65,619,375 | ||||||||||||||
Investment securities sold on a delayed-delivery or when-issued basis | — | — | — | 51,624,517 | ||||||||||||||
Fund shares sold | 4,619 | 29,945 | 528,114 | 22,978,940 | ||||||||||||||
Dividends | — | 107,793 | 71,062 | 1,000 | ||||||||||||||
Interest | — | — | 78 | 6,734,569 | ||||||||||||||
Unrealized appreciation on forward foreign currency contracts | — | — | — | 14,830,935 | ||||||||||||||
Unrealized appreciation on swap agreements | — | — | — | 809,831 | ||||||||||||||
Prepaid expenses | 19,138 | 22,357 | 75,399 | 46,446 | ||||||||||||||
Reimbursement due from manager | — | — | 12,272 | 11,377 | ||||||||||||||
Total assets | 130,351,124 | 89,233,731 | 92,673,162 | 799,077,896 | ||||||||||||||
LIABILITIES: | ||||||||||||||||||
Payable for investments in affiliated underlying funds purchased | 2,444,398 | — | — | — | ||||||||||||||
Payable for investment securities purchased | — | 964,460 | 102,337 | 51,747,258 | ||||||||||||||
Payable for investment securities purchased on a delayed-delivery or when-issued basis | — | — | — | 81,137,942 | ||||||||||||||
Payable for fund shares redeemed | 508,410 | 85,694 | 1,933,465 | 1,217,698 | ||||||||||||||
Payable upon receipt of securities loaned | — | 2,183,135 | — | — | ||||||||||||||
Unrealized depreciation on forward foreign currency contracts | — | — | — | 15,342,340 | ||||||||||||||
Unrealized depreciation on swap agreements | — | — | — | 11,102,440 | ||||||||||||||
Payable to affiliates | 172,032 | 109,970 | 51,122 | 392,420 | ||||||||||||||
Payable for trustee fees | 831 | 779 | 320 | 2,736 | ||||||||||||||
Payable for cash collateral for futures | — | — | 237,055 | — | ||||||||||||||
Payable for derivatives collateral (Note 2) | — | — | — | 1,847,000 | ||||||||||||||
Other accrued expenses and liabilities | 163,012 | 181,442 | 94,402 | 222,825 | ||||||||||||||
Written options, at fair valueˆ | — | — | — | 1,279,663 | ||||||||||||||
Total liabilities | 3,288,683 | 3,525,480 | 2,418,701 | 164,292,322 | ||||||||||||||
NET ASSETS | $ | 127,062,441 | $ | 85,708,251 | $ | 90,254,461 | $ | 634,785,574 | ||||||||||
NET ASSETS WERE COMPRISED OF: | ||||||||||||||||||
Paid-in capital | $ | 289,189,224 | $ | 153,180,505 | $ | 83,925,176 | $ | 625,956,527 | ||||||||||
Undistributed (distributions in excess of) net investment income | (3,478 | ) | (219 | ) | — | 396,522 | ||||||||||||
Accumulated net realized gain (loss) | (163,323,310 | ) | (80,734,522 | ) | 40,456 | 13,116,603 | ||||||||||||
Net unrealized appreciation (depreciation) | 1,200,005 | 13,262,487 | 6,288,829 | (4,684,078 | ) | |||||||||||||
NET ASSETS | $ | 127,062,441 | $ | 85,708,251 | $ | 90,254,461 | $ | 634,785,574 | ||||||||||
+ Including securities loaned at value | $ | — | $ | 2,083,910 | $ | — | $ | — | ||||||||||
* Cost of investments in securities | $ | — | $ | 69,880,249 | $ | 76,140,233 | $ | 568,928,238 | ||||||||||
** Cost of investments in affiliated underlying funds | $ | 127,761,700 | $ | — | $ | — | $ | — | ||||||||||
*** Cost of short-term investments | $ | — | $ | 2,183,135 | $ | — | $ | 15,069,000 | ||||||||||
***** Cost of foreign currencies | $ | — | $ | 661,374 | $ | 1,142,266 | $ | 10,301,025 | ||||||||||
****** Cost of foreign cash collateral for futures | $ | — | $ | — | $ | — | $ | 416,656 | ||||||||||
ˆ Premiums received on written options | $ | — | $ | — | $ | — | $ | 1,550,822 |
ING Diversified International Fund | ING Emerging Countries Fund | ING Emerging Markets Equity Fund | ING Global Bond Fund | ||||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Class A | |||||||||||||||||||
Net assets | $ | 61,325,398 | $ | 61,674,807 | $ | 21,092 | $ | 266,155,302 | |||||||||||
Shares authorized | unlimited | unlimited | unlimited | unlimited | |||||||||||||||
Par value | $ | — | $ | — | $ | — | $ | — | |||||||||||
Shares outstanding | 7,111,369 | 2,495,478 | 1,964 | 22,626,427 | |||||||||||||||
Net asset value and redemption price per share | $ | 8.62 | $ | 24.71 | $ | 10.74 | $ | 11.76 | |||||||||||
Maximum offering price per share (5.75%)+ | $ | 9.15 | $ | 26.22 | $ | 11.40 | $ | 12.06 | (1) | ||||||||||
Class B | |||||||||||||||||||
Net assets | $ | 10,192,957 | $ | 1,899,576 | $ | n/a | $ | 2,086,428 | |||||||||||
Shares authorized | unlimited | unlimited | n/a | unlimited | |||||||||||||||
Par value | $ | — | $ | — | $ | n/a | $ | — | |||||||||||
Shares outstanding | 1,189,134 | 78,658 | n/a | 178,962 | |||||||||||||||
Net asset value and redemption price per share† | $ | 8.57 | $ | 24.15 | $ | n/a | $ | 11.66 | |||||||||||
Class C | |||||||||||||||||||
Net assets | $ | 38,541,826 | $ | 10,668,913 | $ | 3,231 | $ | 89,509,788 | |||||||||||
Shares authorized | unlimited | unlimited | unlimited | unlimited | |||||||||||||||
Par value | $ | — | $ | — | $ | — | $ | — | |||||||||||
Shares outstanding | 4,506,443 | 470,610 | 301 | 7,650,092 | |||||||||||||||
Net asset value and redemption price per share† | $ | 8.55 | $ | 22.67 | $ | 10.73 | $ | 11.70 | |||||||||||
Class I | |||||||||||||||||||
Net assets | $ | 11,956,711 | $ | 8,103,641 | $ | 90,223,675 | $ | 251,111,608 | |||||||||||
Shares authorized | unlimited | unlimited | unlimited | unlimited | |||||||||||||||
Par value | $ | — | $ | — | $ | — | $ | — | |||||||||||
Shares outstanding | 1,388,447 | 325,123 | 8,400,490 | 21,411,682 | |||||||||||||||
Net asset value and redemption price per share | $ | 8.61 | $ | 24.92 | $ | 10.74 | $ | 11.73 | |||||||||||
Class O | |||||||||||||||||||
Net assets | $ | 3,516,142 | $ | n/a | $ | n/a | $ | 3,985,203 | |||||||||||
Shares authorized | unlimited | n/a | n/a | unlimited | |||||||||||||||
Par value | $ | — | $ | n/a | $ | n/a | $ | — | |||||||||||
Shares outstanding | 410,843 | n/a | n/a | 344,582 | |||||||||||||||
Net asset value and redemption price per share | $ | 8.56 | $ | n/a | $ | n/a | $ | 11.57 | |||||||||||
Class R | |||||||||||||||||||
Net assets | $ | 137,265 | $ | n/a | $ | 3,231 | $ | 2,924 | |||||||||||
Shares authorized | unlimited | n/a | unlimited | unlimited | |||||||||||||||
Par value | $ | — | $ | n/a | $ | — | $ | — | |||||||||||
Shares outstanding | 16,117 | n/a | 301 | 249 | |||||||||||||||
Net asset value and redemption price per share | $ | 8.52 | $ | n/a | $ | 10.74 | $ | 11.75 | |||||||||||
Class W | |||||||||||||||||||
Net assets | $ | 1,392,142 | $ | 3,361,314 | $ | 3,232 | $ | 21,934,321 | |||||||||||
Shares authorized | unlimited | unlimited | unlimited | unlimited | |||||||||||||||
Par value | $ | — | $ | — | $ | — | $ | — | |||||||||||
Shares outstanding | 162,204 | 129,195 | 301 | 1,897,272 | |||||||||||||||
Net asset value and redemption price per share | $ | 8.58 | $ | 26.02 | $ | 10.74 | $ | 11.56 | |||||||||||
+ Maximum offering price is computed at 100/94.25 of net asset value. On purchases of $100,000 or more, the offering price is reduced. | |||||||||||||||||||
† Redemption price per share may be reduced for any applicable deferred sales charges. | |||||||||||||||||||
(1) Maximum offering price is 2.50% and is computed at 100/97.50 of net asset value. On purchases of $100,000 or more, the maximum offering price is reduced. |
ING Global Equity Dividend Fund | ING Global Natural Resources Fund | ING Global Opportunities Fund | ING Global Real Estate Fund | |||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
ASSETS: | ||||||||||||||||||
Investments in securities at value+* | $ | 77,466,209 | $ | 110,891,483 | $ | 67,089,152 | $ | 3,404,361,310 | ||||||||||
Short-term investments at value*** | 1,245,467 | 2,526,000 | 1,758,983 | 41,586,732 | ||||||||||||||
Cash | — | 539 | 392,923 | 15,589 | ||||||||||||||
Foreign currencies at value***** | 1,856,968 | 182,878 | 218,369 | 300,140 | ||||||||||||||
Receivables: | ||||||||||||||||||
Investments securities sold | 10,284,481 | — | 772,122 | 20,748,375 | ||||||||||||||
Fund shares sold | 60,923 | 135,465 | 6,078 | 20,871,439 | ||||||||||||||
Dividends | 186,293 | 11,434 | 108,575 | 7,349,986 | ||||||||||||||
Foreign tax reclaim | 56,159 | 477 | 41,807 | 60,208 | ||||||||||||||
Prepaid expenses | 31,801 | 14,597 | 22,019 | 133,575 | ||||||||||||||
Reimbursement due from manager | 6,440 | — | 1,371 | — | ||||||||||||||
Total assets | 91,194,741 | 113,762,873 | 70,411,399 | 3,495,427,354 | ||||||||||||||
LIABILITIES: | ||||||||||||||||||
Payable for investment securities purchased | 9,501,405 | 285,975 | 648,518 | 22,267,146 | ||||||||||||||
Payable for fund shares redeemed | 121,827 | 220,547 | 2,114,165 | 14,725,749 | ||||||||||||||
Payable upon receipt of securities loaned | 1,245,467 | — | 1,758,983 | 13,315,857 | ||||||||||||||
Payable to affiliates | 98,627 | 108,731 | 122,668 | 2,692,842 | ||||||||||||||
Payable to custodian due to bank overdraft | 108,442 | — | — | — | ||||||||||||||
Payable for trustee fees | 536 | 621 | 473 | 17,151 | ||||||||||||||
Other accrued expenses and liabilities | 119,727 | 82,606 | 202,600 | 1,533,203 | ||||||||||||||
Total liabilities | 11,196,031 | 698,480 | 4,847,407 | 54,551,948 | ||||||||||||||
NET ASSETS | $ | 79,998,710 | $ | 113,064,393 | $ | 65,563,992 | $ | 3,440,875,406 | ||||||||||
NET ASSETS WERE COMPRISED OF: | ||||||||||||||||||
Paid-in capital | $ | 165,030,507 | $ | 114,703,980 | $ | 174,415,556 | $ | 3,814,511,535 | ||||||||||
Undistributed (distributions in excess of) net investment income | 142,765 | (1,076 | ) | 223 | 21,085,832 | |||||||||||||
Accumulated net realized loss | (83,796,626 | ) | (16,557,836 | ) | (113,053,553 | ) | (951,837,352 | ) | ||||||||||
Net unrealized appreciation (depreciation) | (1,377,936 | ) | 14,919,325 | 4,201,766 | 557,115,391 | |||||||||||||
NET ASSETS | $ | 79,998,710 | $ | 113,064,393 | $ | 65,563,992 | $ | 3,440,875,406 | ||||||||||
+ Including securities loaned at value | $ | 1,197,381 | $ | — | $ | 1,638,726 | $ | 12,341,098 | ||||||||||
* Cost of investments in securities | $ | 78,865,402 | $ | 95,977,008 | $ | 62,885,094 | $ | 2,847,224,237 | ||||||||||
*** Cost of short-term investments | $ | 1,245,467 | $ | 2,526,000 | $ | 1,758,983 | $ | 41,586,732 | ||||||||||
***** Cost of foreign currencies | $ | 1,834,157 | $ | 179,068 | $ | 218,414 | $ | 304,995 |
ING Global Equity Dividend Fund | ING Global Natural Resources Fund | ING Global Opportunities Fund | ING Global Real Estate Fund | ||||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Class A | |||||||||||||||||||
Net assets | $ | 33,493,989 | $ | 106,362,923 | $ | 30,586,898 | $ | 1,212,619,091 | |||||||||||
Shares authorized | unlimited | unlimited | unlimited | unlimited | |||||||||||||||
Par value | $ | — | $ | — | $ | — | $ | — | |||||||||||
Shares outstanding | 3,331,900 | 11,330,043 | 2,316,007 | 77,027,094 | |||||||||||||||
Net asset value and redemption price per share | $ | 10.05 | $ | 9.39 | $ | 13.21 | $ | 15.74 | |||||||||||
Maximum offering price per share (5.75%)+ | $ | 10.66 | $ | 9.96 | $ | 14.02 | $ | 16.70 | |||||||||||
Class B | |||||||||||||||||||
Net assets | $ | 6,108,383 | $ | n/a | $ | 4,793,213 | $ | 14,716,188 | |||||||||||
Shares authorized | unlimited | n/a | unlimited | unlimited | |||||||||||||||
Par value | $ | — | $ | n/a | $ | — | $ | — | |||||||||||
Shares outstanding | 609,090 | n/a | 379,743 | 1,130,424 | |||||||||||||||
Net asset value and redemption price per share† | $ | 10.03 | $ | n/a | $ | 12.62 | $ | 13.02 | |||||||||||
Class C | |||||||||||||||||||
Net assets | $ | 21,984,512 | $ | n/a | $ | 25,973,450 | $ | 207,587,588 | |||||||||||
Shares authorized | unlimited | n/a | unlimited | unlimited | |||||||||||||||
Par value | $ | — | $ | n/a | $ | — | $ | — | |||||||||||
Shares outstanding | 2,198,950 | n/a | 2,057,452 | 15,033,757 | |||||||||||||||
Net asset value and redemption price per share† | $ | 10.00 | $ | n/a | $ | 12.62 | $ | 13.81 | |||||||||||
Class I | |||||||||||||||||||
Net assets | $ | 3,260,973 | $ | 4,960,742 | $ | 4,116,519 | $ | 1,709,220,283 | |||||||||||
Shares authorized | unlimited | unlimited | unlimited | unlimited | |||||||||||||||
Par value | $ | — | $ | — | $ | — | $ | — | |||||||||||
Shares outstanding | 324,018 | 526,076 | 305,018 | 108,554,496 | |||||||||||||||
Net asset value and redemption price per share | $ | 10.06 | $ | 9.43 | $ | 13.50 | $ | 15.75 | |||||||||||
Class O | |||||||||||||||||||
Net assets | $ | 13,358,428 | $ | n/a | $ | n/a | $ | 13,520,943 | |||||||||||
Shares authorized | unlimited | n/a | n/a | unlimited | |||||||||||||||
Par value | $ | — | $ | n/a | $ | n/a | $ | — | |||||||||||
Shares outstanding | 1,331,372 | n/a | n/a | 858,829 | |||||||||||||||
Net asset value and redemption price per share | $ | 10.03 | $ | n/a | $ | n/a | $ | 15.74 | |||||||||||
Class R | |||||||||||||||||||
Net assets | $ | n/a | $ | n/a | $ | n/a | $ | 3,037 | |||||||||||
Shares authorized | n/a | n/a | n/a | unlimited | |||||||||||||||
Par value | $ | n/a | $ | n/a | $ | n/a | $ | — | |||||||||||
Shares outstanding | n/a | n/a | n/a | 193 | |||||||||||||||
Net asset value and redemption price per share | $ | n/a | $ | n/a | $ | n/a | $ | 15.73 | |||||||||||
Class W | |||||||||||||||||||
Net assets | $ | 1,792,425 | $ | 1,740,728 | $ | 93,912 | $ | 283,208,276 | |||||||||||
Shares authorized | unlimited | unlimited | unlimited | unlimited | |||||||||||||||
Par value | $ | — | $ | — | $ | — | $ | — | |||||||||||
Shares outstanding | 162,748 | 146,802 | 6,488 | 17,957,151 | |||||||||||||||
Net asset value and redemption price per share | $ | 11.01 | $ | 11.86 | $ | 14.47 | $ | 15.77 | |||||||||||
+ Maximum offering price is computed at 100/94.25 of net asset value. On purchases of $50,000 or more, the offering price is reduced. | |||||||||||||||||||
† Redemption price per share may be reduced for any applicable deferred sales charges. |
ING Global Value Choice Fund | ING Greater China Fund | ING Index Plus International Equity Fund | ING International Capital Appreciation Fund | |||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
ASSETS: | ||||||||||||||||||
Investments in securities at value+* | $ | 621,138,971 | $ | 33,352,368 | $ | 92,313,713 | $ | 37,021,904 | ||||||||||
Short-term investments at value*** | 31,958,536 | — | 3,496,000 | 795,990 | ||||||||||||||
Cash | — | 373,843 | 189 | — | ||||||||||||||
Cash collateral for futures | — | — | 103,507 | — | ||||||||||||||
Foreign currencies at value***** | 96 | 106,379 | 3,416 | 38,403 | ||||||||||||||
Receivables: | ||||||||||||||||||
Investments securities sold | 3,446,054 | 759,186 | 19 | 271,348 | ||||||||||||||
Fund shares sold | 582,707 | 249,982 | 171,877 | 9,955 | ||||||||||||||
Dividends | 1,828,030 | 12,407 | 224,528 | 63,461 | ||||||||||||||
Interest | — | — | — | 1 | ||||||||||||||
Foreign tax reclaim | — | — | 133,179 | 83,419 | ||||||||||||||
Unrealized appreciation on forward foreign currency contracts | — | — | 48,298 | — | ||||||||||||||
Prepaid expenses | 35,961 | 20,428 | 18,517 | 8,959 | ||||||||||||||
Reimbursement due from manager | — | — | 36,481 | 11,675 | ||||||||||||||
Total assets | 658,990,355 | 34,874,593 | 96,549,724 | 38,305,115 | ||||||||||||||
LIABILITIES: | ||||||||||||||||||
Payable for investment securities purchased | — | 779,296 | — | 265,194 | ||||||||||||||
Payable for fund shares redeemed | 866,987 | 74,998 | 1,471,983 | 40,282 | ||||||||||||||
Payable upon receipt of securities loaned | 17,062,175 | — | — | 795,990 | ||||||||||||||
Unrealized depreciation on forward foreign currency contracts | — | — | 102,069 | — | ||||||||||||||
Payable to affiliates | 688,099 | 67,188 | 61,626 | 37,847 | ||||||||||||||
Payable to custodian due to bank overdraft | — | — | — | 49,731 | ||||||||||||||
Payable for trustee fees | 3,293 | 210 | 538 | 297 | ||||||||||||||
Other accrued expenses and liabilities | 204,776 | 63,703 | 184,566 | 88,521 | ||||||||||||||
Total liabilities | 18,825,330 | 985,395 | 1,820,782 | 1,277,862 | ||||||||||||||
NET ASSETS | $ | 640,165,025 | $ | 33,889,198 | $ | 94,728,942 | $ | 37,027,253 | ||||||||||
NET ASSETS WERE COMPRISED OF: | ||||||||||||||||||
Paid-in capital | $ | 601,197,428 | $ | 32,984,700 | $ | 164,676,718 | $ | 89,057,723 | ||||||||||
Undistributed (distributions in excess of) net investment income | 4,867,897 | (462 | ) | 2,285,357 | 214,249 | |||||||||||||
Accumulated net realized gain (loss) | 51,062,000 | (1,252,072 | ) | (78,714,658 | ) | (51,171,359 | ) | |||||||||||
Net unrealized appreciation (depreciation) | (16,962,300 | ) | 2,157,032 | 6,481,525 | (1,073,360 | ) | ||||||||||||
NET ASSETS | $ | 640,165,025 | $ | 33,889,198 | $ | 94,728,942 | $ | 37,027,253 | ||||||||||
+ Including securities loaned at value | $ | 16,365,834 | $ | — | $ | — | $ | 761,000 | ||||||||||
* Cost of investments in securities | $ | 638,065,088 | $ | 31,195,328 | $ | 85,994,639 | $ | 38,099,582 | ||||||||||
*** Cost of short-term investments | $ | 31,958,536 | $ | — | $ | 3,496,000 | $ | 795,990 | ||||||||||
***** Cost of foreign currencies | $ | 93 | $ | 106,380 | $ | 3,392 | $ | 38,982 |
ING Global Value Choice Fund | ING Greater China Fund | ING Index Plus International Equity Fund | ING International Capital Appreciation Fund | ||||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Class A | |||||||||||||||||||
Net assets | $ | 233,166,077 | $ | 21,370,182 | $ | 7,322,313 | $ | 16,510,752 | |||||||||||
Shares authorized | unlimited | unlimited | unlimited | unlimited | |||||||||||||||
Par value | $ | — | $ | — | $ | — | $ | — | |||||||||||
Shares outstanding | 7,235,173 | 1,505,873 | 942,436 | 1,808,515 | |||||||||||||||
Net asset value and redemption price per share | $ | 32.23 | $ | 14.19 | $ | 7.77 | $ | 9.13 | |||||||||||
Maximum offering price per share (5.75%)+ | $ | 34.20 | $ | 15.06 | $ | 8.24 | $ | 9.69 | |||||||||||
Class B | |||||||||||||||||||
Net assets | $ | 5,770,774 | $ | 1,770,774 | $ | 387,010 | $ | 940,067 | |||||||||||
Shares authorized | unlimited | unlimited | unlimited | unlimited | |||||||||||||||
Par value | $ | — | $ | — | $ | — | $ | — | |||||||||||
Shares outstanding | 168,343 | 126,600 | 49,688 | 105,215 | |||||||||||||||
Net asset value and redemption price per share† | $ | 34.28 | $ | 13.99 | $ | 7.79 | $ | 8.93 | |||||||||||
Class C | |||||||||||||||||||
Net assets | $ | 134,665,074 | $ | 4,185,852 | $ | 942,770 | $ | 5,977,509 | |||||||||||
Shares authorized | unlimited | unlimited | unlimited | unlimited | |||||||||||||||
Par value | $ | — | $ | — | $ | — | $ | — | |||||||||||
Shares outstanding | 4,448,837 | 299,199 | 122,096 | 666,576 | |||||||||||||||
Net asset value and redemption price per share† | $ | 30.27 | $ | 13.99 | $ | 7.72 | $ | 8.97 | |||||||||||
Class I | |||||||||||||||||||
Net assets | $ | 241,105,063 | $ | 1,923,974 | $ | 47,131,740 | $ | 5,912,022 | |||||||||||
Shares authorized | unlimited | unlimited | unlimited | unlimited | |||||||||||||||
Par value | $ | — | $ | — | $ | — | $ | — | |||||||||||
Shares outstanding | 7,401,073 | 135,230 | 6,041,050 | 648,100 | |||||||||||||||
Net asset value and redemption price per share | $ | 32.58 | $ | 14.23 | $ | 7.80 | $ | 9.12 | |||||||||||
Class O | |||||||||||||||||||
Net assets | $ | n/a | $ | 4,635,664 | $ | 38,942,163 | $ | n/a | |||||||||||
Shares authorized | n/a | unlimited | unlimited | n/a | |||||||||||||||
Par value | $ | n/a | $ | — | $ | — | $ | n/a | |||||||||||
Shares outstanding | n/a | 329,572 | 5,048,256 | n/a | |||||||||||||||
Net asset value and redemption price per share | $ | n/a | $ | 14.07 | $ | 7.71 | $ | n/a | |||||||||||
Class W | |||||||||||||||||||
Net assets | $ | 25,458,037 | $ | 2,752 | $ | 2,946 | $ | 7,686,903 | |||||||||||
Shares authorized | unlimited | unlimited | unlimited | unlimited | |||||||||||||||
Par value | $ | — | $ | — | $ | — | $ | — | |||||||||||
Shares outstanding | 783,211 | 193 | 378 | 840,233 | |||||||||||||||
Net asset value and redemption price per share | $ | 32.50 | $ | 14.23 | $ | 7.79 | $ | 9.15 | |||||||||||
+ Maximum offering price is computed at 100/94.25 of net asset value. On purchases of $50,000 or more, the offering price is reduced. | |||||||||||||||||||
† Redemption price per share may be reduced for any applicable deferred sales charges. |
ING International Core Fund | ING International Growth Fund | ING International Real Estate Fund | ING International SmallCap Multi-Manager Fund | |||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
ASSETS: | ||||||||||||||||||
Investments in securities at value+* | $ | 336,261,077 | $ | 148,823,385 | $ | 470,882,371 | $ | 300,789,024 | ||||||||||
Short-term investments at value*** | 20,626,938 | 3,198,795 | — | 1,591,223 | ||||||||||||||
Cash | — | 2,788,566 | 2,526,000 | 3,204,538 | ||||||||||||||
Foreign currencies at value***** | 182,256 | 682,600 | 711 | 1,302,976 | ||||||||||||||
Receivables: | ||||||||||||||||||
Investments securities sold | 2,710,924 | 1,349,887 | 4,772 | 4,703,680 | ||||||||||||||
Fund shares sold | 1,753,117 | 125,959 | 677,995 | 452,471 | ||||||||||||||
Dividends | 469,551 | 261,383 | 1,741,463 | 704,451 | ||||||||||||||
Interest | — | 7 | 40 | 30,455 | ||||||||||||||
Foreign tax reclaim | 213,320 | 121,875 | 15,293 | 188,835 | ||||||||||||||
Unrealized appreciation on forward foreign currency contracts | 288,355 | — | — | 1,870 | ||||||||||||||
Prepaid expenses | 18,540 | 13,828 | 14,793 | 23,307 | ||||||||||||||
Reimbursement due from manager | 87,938 | 13,369 | — | — | ||||||||||||||
Total assets | 362,612,016 | 157,379,654 | 475,863,438 | 312,992,830 | ||||||||||||||
LIABILITIES: | ||||||||||||||||||
Payable for investment securities purchased | 5,809,202 | 1,038,870 | — | 3,374,611 | ||||||||||||||
Payable for fund shares redeemed | 6,835,532 | 3,101,556 | 445,531 | 1,031,873 | ||||||||||||||
Payable upon receipt of securities loaned | — | 2,785,702 | — | 285,403 | ||||||||||||||
Unrealized depreciation on forward foreign currency contracts | — | 3,916 | — | 13,635 | ||||||||||||||
Payable to affiliates | 244,012 | 106,088 | 469,081 | 333,094 | ||||||||||||||
Payable for trustee fees | 1,526 | 788 | 2,964 | 2,116 | ||||||||||||||
Other accrued expenses and liabilities | 108,291 | 111,028 | 285,675 | 283,131 | ||||||||||||||
Total liabilities | 12,998,563 | 7,147,948 | 1,203,251 | 5,323,863 | ||||||||||||||
NET ASSETS | $ | 349,613,453 | $ | 150,231,706 | $ | 474,660,187 | $ | 307,668,967 | ||||||||||
NET ASSETS WERE COMPRISED OF: | ||||||||||||||||||
Paid-in capital | $ | 388,780,786 | $ | 161,408,389 | $ | 764,539,113 | $ | 583,006,418 | ||||||||||
Undistributed net investment income | 2,528,280 | 2,392,205 | 1,024,400 | 4,023,061 | ||||||||||||||
Accumulated net realized gain (loss) | (21,295,047 | ) | 506,566 | (343,150,105 | ) | (282,781,580 | ) | |||||||||||
Net unrealized appreciation (depreciation) | (20,400,566 | ) | (14,075,454 | ) | 52,246,779 | 3,421,068 | ||||||||||||
NET ASSETS | $ | 349,613,453 | $ | 150,231,706 | $ | 474,660,187 | $ | 307,668,967 | ||||||||||
+ Including securities loaned at value | $ | — | $ | 2,652,822 | $ | — | $ | 248,991 | ||||||||||
* Cost of investments in securities | $ | 356,940,413 | $ | 162,893,388 | $ | 418,617,759 | $ | 297,345,334 | ||||||||||
*** Cost of short-term investments | $ | 20,626,938 | $ | 3,198,795 | $ | — | $ | 1,591,223 | ||||||||||
***** Cost of foreign currencies | $ | 182,259 | $ | 612,498 | $ | 705 | $ | 1,321,381 |
ING International Core Fund | ING International Growth Fund | ING International Real Estate Fund | ING International SmallCap Multi-Manager Fund | ||||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Class A | |||||||||||||||||||
Net assets | $ | n/a | $ | n/a | $ | 189,498,935 | $ | 99,872,541 | |||||||||||
Shares authorized | n/a | n/a | unlimited | unlimited | |||||||||||||||
Par value | $ | n/a | $ | n/a | $ | — | $ | — | |||||||||||
Shares outstanding | n/a | n/a | 24,270,033 | 2,822,361 | |||||||||||||||
Net asset value and redemption price per share | $ | n/a | $ | n/a | $ | 7.81 | $ | 35.39 | |||||||||||
Maximum offering price per share (5.75%)+ | $ | — | $ | — | $ | 8.29 | $ | 37.55 | |||||||||||
Class B | |||||||||||||||||||
Net assets | $ | n/a | $ | n/a | $ | 2,088,090 | $ | 2,592,129 | |||||||||||
Shares authorized | n/a | n/a | unlimited | unlimited | |||||||||||||||
Par value | $ | n/a | $ | n/a | $ | — | $ | — | |||||||||||
Shares outstanding | n/a | n/a | 268,253 | 69,860 | |||||||||||||||
Net asset value and redemption price per share† | $ | n/a | $ | n/a | $ | 7.78 | $ | 37.10 | |||||||||||
Class C | |||||||||||||||||||
Net assets | $ | n/a | $ | n/a | $ | 18,966,332 | $ | 23,410,084 | |||||||||||
Shares authorized | n/a | n/a | unlimited | unlimited | |||||||||||||||
Par value | $ | n/a | $ | n/a | $ | — | $ | — | |||||||||||
Shares outstanding | n/a | n/a | 2,438,327 | 710,974 | |||||||||||||||
Net asset value and redemption price per share† | $ | n/a | $ | n/a | $ | 7.78 | $ | 32.93 | |||||||||||
Class I | |||||||||||||||||||
Net assets | $ | 349,613,453 | $ | 150,231,706 | $ | 253,836,757 | $ | 153,676,186 | |||||||||||
Shares authorized | unlimited | unlimited | unlimited | unlimited | |||||||||||||||
Par value | $ | — | $ | — | $ | — | $ | — | |||||||||||
Shares outstanding | 39,572,748 | 16,154,689 | 32,478,069 | 4,329,341 | |||||||||||||||
Net asset value and redemption price per share | $ | 8.83 | $ | 9.30 | $ | 7.82 | $ | 35.50 | |||||||||||
Class O | |||||||||||||||||||
Net assets | $ | n/a | $ | n/a | $ | n/a | $ | 1,424,732 | |||||||||||
Shares authorized | n/a | n/a | n/a | unlimited | |||||||||||||||
Par value | $ | n/a | $ | n/a | $ | n/a | $ | — | |||||||||||
Shares outstanding | n/a | n/a | n/a | 40,557 | |||||||||||||||
Net asset value and redemption price per share | $ | n/a | $ | n/a | $ | n/a | $ | 35.13 | |||||||||||
Class W | |||||||||||||||||||
Net assets | $ | n/a | $ | n/a | $ | 10,270,073 | $ | 26,693,295 | |||||||||||
Shares authorized | n/a | n/a | unlimited | unlimited | |||||||||||||||
Par value | $ | n/a | $ | n/a | $ | — | $ | — | |||||||||||
Shares outstanding | n/a | n/a | 1,310,262 | 635,579 | |||||||||||||||
Net asset value and redemption price per share | $ | n/a | $ | n/a | $ | 7.84 | $ | 42.00 | |||||||||||
+ Maximum offering price is computed at 100/94.25 of net asset value. On purchases of $50,000 or more, the offering price is reduced. | |||||||||||||||||||
† Redemption price per share may be reduced for any applicable deferred sales charges. |
ING International Value Choice Fund | ING International Value Fund | ING Russia Fund | ||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
ASSETS: | ||||||||||||||
Investments in securities at value+* | $ | 29,487,831 | $ | 712,084,153 | $ | 313,681,433 | ||||||||
Short-term investments at value*** | 370,028 | 5,620,794 | 17,109,010 | |||||||||||
Cash | — | 694,066 | 3,086,916 | |||||||||||
Foreign currencies at value***** | — | 308,197 | — | |||||||||||
Receivables: | ||||||||||||||
Investments securities sold | — | 4,311,271 | 11,198,809 | |||||||||||
Fund shares sold | 67,116 | 252,163 | 801,459 | |||||||||||
Dividends | 112,547 | 4,412,773 | 1,135,737 | |||||||||||
Interest | — | 3 | — | |||||||||||
Foreign tax reclaim | 15,996 | 2,193,516 | — | |||||||||||
Prepaid expenses | 12,843 | 20,124 | 25,219 | |||||||||||
Total assets | 30,066,361 | 729,897,060 | 347,038,583 | |||||||||||
LIABILITIES: | ||||||||||||||
Payable for investment securities purchased | — | 32,029 | — | |||||||||||
Payable for fund shares redeemed | 55,647 | 23,994,518 | 753,830 | |||||||||||
Payable upon receipt of securities loaned | — | 518,447 | 17,109,010 | |||||||||||
Payable to affiliates | 34,629 | 862,873 | 408,602 | |||||||||||
Payable to custodian due to foreign currency overdraft******* | — | — | 189 | |||||||||||
Payable for trustee fees | 246 | 4,975 | 2,201 | |||||||||||
Other accrued expenses and liabilities | 53,054 | 703,724 | 519,798 | |||||||||||
Total liabilities | 143,576 | 26,116,566 | 18,793,630 | |||||||||||
NET ASSETS | $ | 29,922,785 | $ | 703,780,494 | $ | 328,244,953 | ||||||||
NET ASSETS WERE COMPRISED OF: | ||||||||||||||
Paid-in capital | $ | 46,555,776 | $ | 1,673,346,517 | $ | 355,666,028 | ||||||||
Undistributed net investment income / Accumulated net investment loss | 725,238 | 16,370,623 | (6,466 | ) | ||||||||||
Accumulated net realized loss | (16,123,469 | ) | (907,127,388 | ) | (98,001,997 | ) | ||||||||
Net unrealized appreciation (depreciation) | (1,234,760 | ) | (78,809,258 | ) | 70,587,388 | |||||||||
NET ASSETS | $ | 29,922,785 | $ | 703,780,494 | $ | 328,244,953 | ||||||||
+ Including securities loaned at value | $ | — | $ | 501,843 | $ | 16,462,000 | ||||||||
* Cost of investments in securities | $ | 30,719,750 | $ | 791,124,253 | $ | 243,036,378 | ||||||||
*** Cost of short-term investments | $ | 370,028 | $ | 5,620,794 | $ | 17,109,010 | ||||||||
***** Cost of foreign currencies | $ | — | $ | 307,678 | $ | — | ||||||||
******* Cost of foreign currency overdraft | $ | — | $ | — | $ | 191 |
ING International Value Choice Fund | ING International Value Fund | ING Russia Fund | |||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Class A | |||||||||||||||
Net assets | $ | 21,036,549 | $ | 306,023,532 | $ | 317,714,589 | |||||||||
Shares authorized | unlimited | unlimited | unlimited | ||||||||||||
Par value | $ | — | $ | 0.010 | $ | — | |||||||||
Shares outstanding | 2,077,672 | 28,910,246 | 9,478,298 | ||||||||||||
Net asset value and redemption price per share | $ | 10.13 | $ | 10.59 | $ | 33.52 | |||||||||
Maximum offering price per share (5.75%)+ | $ | 10.75 | $ | 11.24 | $ | 35.56 | |||||||||
Class B | |||||||||||||||
Net assets | $ | 480,968 | $ | 1,430,031 | $ | n/a | |||||||||
Shares authorized | unlimited | unlimited | n/a | ||||||||||||
Par value | $ | — | $ | 0.010 | $ | n/a | |||||||||
Shares outstanding | 48,324 | 134,817 | n/a | ||||||||||||
Net asset value and redemption price per share | $ | 9.95 | $ | 10.61 | $ | n/a | |||||||||
Class C | |||||||||||||||
Net assets | $ | 4,449,450 | $ | 137,199,091 | $ | n/a | |||||||||
Shares authorized | unlimited | unlimited | n/a | ||||||||||||
Par value | $ | — | $ | 0.010 | $ | n/a | |||||||||
Shares outstanding | 446,601 | 13,411,843 | n/a | ||||||||||||
Net asset value and redemption price per share | $ | 9.96 | $ | 10.23 | $ | n/a | |||||||||
Class I | |||||||||||||||
Net assets | $ | 3,892,482 | $ | 258,683,335 | $ | 10,527,803 | |||||||||
Shares authorized | unlimited | unlimited | unlimited | ||||||||||||
Par value | $ | — | $ | 0.010 | $ | — | |||||||||
Shares outstanding | 383,933 | 24,456,568 | 311,564 | ||||||||||||
Net asset value and redemption price per share | $ | 10.14 | $ | 10.58 | $ | 33.79 | |||||||||
Class W | |||||||||||||||
Net assets | $ | 63,336 | $ | 444,505 | $ | 2,561 | |||||||||
Shares authorized | unlimited | unlimited | unlimited | ||||||||||||
Par value | $ | — | $ | 0.010 | $ | — | |||||||||
Shares outstanding | 6,248 | 42,069 | 76 | ||||||||||||
Net asset value and redemption price per share | $ | 10.14 | $ | 10.57 | $ | 33.74 | |||||||||
+ Maximum offering price is computed at 100/94.25 of net asset value. On purchases of $50,000 or more, the offering price is reduced. | |||||||||||||||
† Redemption price per share may be reduced for any applicable deferred sales charges. |
ING Diversified International Fund | ING Emerging Countries Fund | ING Emerging Markets Equity Fund | ING Global Bond Fund | |||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
October 11, 2011(1) to October 31, 2011 | ||||||||||||||||||
INVESTMENT INCOME: | ||||||||||||||||||
Dividends, net of foreign taxes withheld* | $ | — | $ | 3,331,027 | $ | 86,970 | $ | 10,621 | ||||||||||
Interest, net of foreign taxes withheld* | — | — | 78 | 26,587,253 | ||||||||||||||
Dividends from affiliated underlying funds | 2,343,887 | — | — | 516 | ||||||||||||||
Securities lending income, net | — | 28,971 | — | — | ||||||||||||||
Total investment income | 2,343,887 | 3,359,998 | 87,048 | 26,598,390 | ||||||||||||||
EXPENSES: | ||||||||||||||||||
Investment management fees | — | 1,636,358 | 46,470 | 2,189,115 | ||||||||||||||
Distribution and service fees: | ||||||||||||||||||
Class A | 213,238 | 265,758 | 2 | 523,419 | ||||||||||||||
Class B | 136,353 | 28,547 | — | 27,004 | ||||||||||||||
Class C | 505,682 | 135,461 | 2 | 843,011 | ||||||||||||||
Class O | 8,860 | — | — | 9,008 | ||||||||||||||
Class R | 814 | — | 1 | 3 | ||||||||||||||
Transfer agent fees: | ||||||||||||||||||
Class A | 167,416 | 130,018 | — | 221,175 | ||||||||||||||
Class B | 26,759 | 4,878 | — | 2,890 | ||||||||||||||
Class C | 99,255 | 23,201 | — | 89,784 | ||||||||||||||
Class I | 7,011 | 6,272 | 485 | 38,457 | ||||||||||||||
Class O | 6,944 | — | — | 3,832 | ||||||||||||||
Class R | 319 | — | — | 1 | ||||||||||||||
Class W | 4,045 | 8,736 | — | 15,434 | ||||||||||||||
Administrative service fees | 166,197 | 155,938 | 4,647 | 547,274 | ||||||||||||||
Shareholder reporting expense | 37,430 | 30,135 | 2,300 | 58,984 | ||||||||||||||
Registration fees | 97,061 | 73,627 | — | 147,459 | ||||||||||||||
Professional fees | 31,515 | 37,285 | 2,480 | 66,880 | ||||||||||||||
Custody and accounting expense | 27,842 | 253,640 | 8,740 | 215,709 | ||||||||||||||
Trustee fees | 6,935 | 4,788 | 320 | 15,186 | ||||||||||||||
Offering expense | — | — | 4,358 | — | ||||||||||||||
Miscellaneous expense | 11,625 | 54,653 | 640 | 37,380 | ||||||||||||||
Interest expense | — | 3,584 | — | 2,323 | ||||||||||||||
Total expenses | �� | 1,555,301 | 2,852,879 | 70,445 | 5,054,328 | |||||||||||||
Net waived and reimbursed fees | (272,525 | ) | (140,552 | ) | (12,272 | ) | (308,325 | ) | ||||||||||
Net expenses | 1,282,776 | 2,712,327 | 58,173 | 4,746,003 | ||||||||||||||
Net investment income | 1,061,111 | 647,671 | 28,875 | 21,852,387 | ||||||||||||||
REALIZED AND UNREALIZED GAIN (LOSS): | ||||||||||||||||||
Net realized gain (loss) on: | ||||||||||||||||||
Investments | 18,677,560 | 2,435,070 | (6,941 | ) | (2,240,741 | ) | ||||||||||||
Capital gain distributions from affiliated underlying funds | 61 | — | — | 528 | ||||||||||||||
Capital gain distributions from underlying funds | — | — | — | 163 | ||||||||||||||
Foreign currency related transactions | — | (668,675 | ) | (33,755 | ) | 1,485,643 | ||||||||||||
Futures | — | — | 49,413 | 9,127,509 | ||||||||||||||
Swaps | — | — | — | (3,185,946 | ) | |||||||||||||
Written options | — | — | — | 10,886,173 | ||||||||||||||
Net realized gain | 18,677,621 | 1,766,395 | 8,717 | 16,073,329 | ||||||||||||||
Net change in unrealized appreciation (depreciation) on: | ||||||||||||||||||
Investments | (28,118,960 | ) | (28,424,295 | ) | 5,854,552 | (21,025,196 | ) | |||||||||||
Foreign currency related transactions | — | (13,456 | ) | 14,366 | (2,034,444 | ) | ||||||||||||
Futures | — | — | �� | 419,911 | 836,256 | |||||||||||||
Swaps | — | — | — | (10,089,622 | ) | |||||||||||||
Written options | — | — | — | (91,902 | ) | |||||||||||||
Net change in unrealized appreciation (depreciation) | (28,118,960 | ) | (28,437,751 | ) | 6,288,829 | (32,404,908 | ) | |||||||||||
Net realized and unrealized gain (loss) | (9,441,339 | ) | (26,671,356 | ) | 6,297,546 | (16,331,579 | ) | |||||||||||
Increase (decrease) in net assets resulting from operations | $ | (8,380,228 | ) | $ | (26,023,685 | ) | $ | 6,326,421 | $ | 5,520,808 | ||||||||
* Foreign taxes withheld | $ | — | $ | 291,275 | $ | 560 | $ | 17,930 | ||||||||||
(1) Commencement of operations. |
ING Global Equity Dividend Fund | ING Global Natural Resources Fund | ING Global Opportunities Fund | ING Global Real Estate Fund | |||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
INVESTMENT INCOME: | ||||||||||||||||||
Dividends, net of foreign taxes withheld* | $ | 4,267,364 | $ | 1,780,860 | $ | 1,468,544 | $ | 90,317,167 | ||||||||||
Interest | — | — | 2,227 | 2,257 | ||||||||||||||
Dividends from affiliated underlying funds | — | 194 | — | 4,489 | ||||||||||||||
Securities lending income, net | 8,365 | — | 67,233 | 172,612 | ||||||||||||||
Total investment income | 4,275,729 | 1,781,054 | 1,538,004 | 90,496,525 | ||||||||||||||
EXPENSES: | ||||||||||||||||||
Investment management fees | 750,640 | 1,055,830 | 851,612 | 24,449,731 | ||||||||||||||
Distribution and service fees: | ||||||||||||||||||
Class A | 96,952 | 294,470 | 108,891 | 3,247,624 | ||||||||||||||
Class B | 84,620 | — | 69,977 | 175,684 | ||||||||||||||
Class C | 261,627 | — | 366,328 | 2,157,362 | ||||||||||||||
Class O | 35,780 | — | — | 36,077 | ||||||||||||||
Class R | — | — | — | 3 | ||||||||||||||
Transfer agent fees: | ||||||||||||||||||
Class A | 68,727 | 178,958 | 84,625 | 2,222,438 | ||||||||||||||
Class B | 15,112 | — | 13,685 | 29,896 | ||||||||||||||
Class C | 46,395 | — | 71,464 | 368,852 | ||||||||||||||
Class I | 3,602 | 3,151 | 9,677 | 1,534,131 | ||||||||||||||
Class O | 27,153 | — | — | 24,632 | ||||||||||||||
Class R | — | — | — | 1 | ||||||||||||||
Class W | 19,085 | 2,354 | 657 | 520,371 | ||||||||||||||
Administrative service fees | 107,234 | 124,109 | 94,623 | 3,430,283 | ||||||||||||||
Shareholder reporting expense | 23,425 | 29,788 | 40,788 | 726,215 | ||||||||||||||
Registration fees | 84,586 | 49,187 | 73,918 | 331,142 | ||||||||||||||
Professional fees | 24,741 | 14,687 | 38,677 | 288,804 | ||||||||||||||
Custody and accounting expense | 51,510 | 26,245 | 77,543 | 974,970 | ||||||||||||||
Trustee fees | 3,942 | 3,588 | 3,465 | 106,406 | ||||||||||||||
Miscellaneous expense | 10,518 | 6,519 | 12,187 | 117,208 | ||||||||||||||
Interest expense | 4,046 | 34 | 3,714 | — | ||||||||||||||
Total expenses | 1,719,695 | 1,788,920 | 1,921,831 | 40,741,830 | ||||||||||||||
Net waived and reimbursed fees | (14,939 | ) | (247 | ) | (208,546 | ) | (4,788 | ) | ||||||||||
Net expenses | 1,704,756 | 1,788,673 | 1,713,285 | 40,737,042 | ||||||||||||||
Net investment income (loss) | 2,570,973 | (7,619 | ) | (175,281 | ) | 49,759,483 | ||||||||||||
REALIZED AND UNREALIZED GAIN (LOSS): | ||||||||||||||||||
Net realized gain (loss) on: | ||||||||||||||||||
Investments | 10,929,226 | 7,018,030 | 14,841,149 | 9,055,589 | ||||||||||||||
Capital gain distributions from affiliated underlying funds | — | 542 | — | 13,758 | ||||||||||||||
Capital gain distributions from underlying funds | — | 28 | — | 496 | ||||||||||||||
Foreign currency related transactions | (337,491 | ) | (5,272 | ) | (134,441 | ) | (553,358 | ) | ||||||||||
Net realized gain | 10,591,735 | 7,013,328 | 14,706,708 | 8,516,485 | ||||||||||||||
Net change in unrealized appreciation (depreciation) on: | ||||||||||||||||||
Investments | (10,469,492 | ) | (828,365 | ) | (15,646,899 | ) | (70,651,544 | ) | ||||||||||
Foreign currency related transactions | 24,014 | 4,892 | (40,689 | ) | (152,056 | ) | ||||||||||||
Net change in unrealized appreciation (depreciation) | (10,445,478 | ) | (823,473 | ) | (15,687,588 | ) | (70,803,600 | ) | ||||||||||
Net realized and unrealized gain (loss) | 146,257 | 6,189,855 | (980,880 | ) | (62,287,115 | ) | ||||||||||||
Increase (decrease) in net assets resulting from operations | $ | 2,717,230 | $ | 6,182,236 | $ | (1,156,161 | ) | $ | (12,527,632 | ) | ||||||||
* Foreign taxes withheld | $ | 270,200 | $ | 77,892 | $ | 127,737 | $ | 5,349,538 |
ING Global Value Choice Fund | ING Greater China Fund | ING Index Plus International Equity Fund | ING International Capital Appreciation Fund | |||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
INVESTMENT INCOME: | ||||||||||||||||||
Dividends, net of foreign taxes withheld* | $ | 13,912,555 | $ | 1,015,852 | $ | 3,140,361 | $ | 1,107,761 | ||||||||||
Dividends from affiliated underlying funds | 5,188 | — | 9 | — | ||||||||||||||
Securities lending income, net | 67,213 | — | — | 75,475 | ||||||||||||||
Total investment income | 13,984,956 | 1,015,852 | 3,140,370 | 1,183,236 | ||||||||||||||
EXPENSES: | ||||||||||||||||||
Investment management fees | 5,767,982 | 483,400 | 592,147 | 504,741 | ||||||||||||||
Distribution and service fees: | ||||||||||||||||||
Class A | 624,924 | 67,140 | 21,332 | 53,563 | ||||||||||||||
Class B | 69,073 | 23,633 | 5,714 | 16,354 | ||||||||||||||
Class C | 1,351,324 | 54,983 | 11,067 | 72,042 | ||||||||||||||
Class O | — | 12,767 | 110,396 | — | ||||||||||||||
Transfer agent fees: | ||||||||||||||||||
Class A | 293,355 | 55,559 | 17,999 | 42,695 | ||||||||||||||
Class B | 8,129 | 4,869 | 1,255 | 3,295 | ||||||||||||||
Class C | 158,308 | 11,371 | 2,333 | 14,308 | ||||||||||||||
Class I | 57,474 | 2,913 | 10,412 | 977 | ||||||||||||||
Class O | — | 10,658 | 92,653 | — | ||||||||||||||
Class W | 42,110 | 2 | 1 | 20,128 | ||||||||||||||
Administrative service fees | 658,499 | 42,034 | 107,662 | 59,380 | ||||||||||||||
Shareholder reporting expense | 87,900 | 15,710 | 62,553 | 15,538 | ||||||||||||||
Registration fees | 135,899 | 71,513 | 77,400 | 73,541 | ||||||||||||||
Professional fees | 65,096 | 18,151 | 22,781 | 16,980 | ||||||||||||||
Custody and accounting expense | 202,326 | 60,878 | 222,328 | 82,044 | ||||||||||||||
Trustee fees | 17,840 | 365 | 3,890 | 2,276 | ||||||||||||||
Miscellaneous expense | 19,658 | 2,671 | 4,712 | 10,314 | ||||||||||||||
Interest expense | — | 186 | 1,838 | 493 | ||||||||||||||
Total expenses | 9,559,897 | 938,803 | 1,368,473 | 988,669 | ||||||||||||||
Net waived and reimbursed fees | (713 | ) | (4,144 | ) | (358,187 | ) | (163,324 | ) | ||||||||||
Brokerage commission recapture | (44,833 | ) | — | — | (1,713 | ) | ||||||||||||
Net expenses | 9,514,351 | 934,659 | 1,010,286 | 823,632 | ||||||||||||||
Net investment income | 4,470,605 | 81,193 | 2,130,084 | 359,604 | ||||||||||||||
REALIZED AND UNREALIZED GAIN (LOSS): | ||||||||||||||||||
Net realized gain (loss) on: | ||||||||||||||||||
Investments | 72,433,738 | 2,299,690 | 7,486,361 | 14,492,018 | ||||||||||||||
Capital gain distributions from affiliated underlying funds | 11,448 | — | 60 | — | ||||||||||||||
Capital gain distributions from underlying funds | 558 | — | 6 | — | ||||||||||||||
Foreign currency related transactions | (318,968 | ) | (20,813 | ) | 126,723 | (79,538 | ) | |||||||||||
Futures | — | — | 160,735 | — | ||||||||||||||
Net realized gain | 72,126,776 | 2,278,877 | 7,773,885 | 14,412,480 | ||||||||||||||
Net change in unrealized appreciation (depreciation) on: | ||||||||||||||||||
Investments | (72,673,066 | ) | (7,368,926 | ) | (11,124,902 | ) | (15,104,340 | ) | ||||||||||
Foreign currency related transactions | (71,858 | ) | 101 | (69,685 | ) | (1,159 | ) | |||||||||||
Futures | — | — | 209,289 | — | ||||||||||||||
Net change in unrealized appreciation (depreciation) | (72,744,924 | ) | (7,368,825 | ) | (10,985,298 | ) | (15,105,499 | ) | ||||||||||
Net realized and unrealized loss | (618,148 | ) | (5,089,948 | ) | (3,211,413 | ) | (693,019 | ) | ||||||||||
Increase (decrease) in net assets resulting from operations | $ | 3,852,457 | $ | (5,008,755 | ) | $ | (1,081,329 | ) | $ | (333,415 | ) | |||||||
* Foreign taxes withheld | $ | 1,099,467 | $ | 131,369 | $ | 299,828 | $ | 91,478 |
ING International Core Fund | ING International Growth Fund | ING International Real Estate Fund | ING International SmallCap Multi-Manager Fund | |||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
February 8, 2011(1) to October 31, 2011 | January 6, 2011(1) to October 31, 2011 | |||||||||||||||||
INVESTMENT INCOME: | ||||||||||||||||||
Dividends, net of foreign taxes withheld* | $ | 5,552,932 | $ | 3,653,707 | $ | 19,295,786 | $ | 10,366,622 | ||||||||||
Interest, net of foreign taxes withheld* | 9,008 | 43,377 | 1,330 | 56,577 | ||||||||||||||
Dividends from affiliated underlying funds | — | — | — | 224 | ||||||||||||||
Securities lending income, net | — | 39,868 | — | 26,626 | ||||||||||||||
Total investment income | 5,561,940 | 3,736,952 | 19,297,116 | 10,450,049 | ||||||||||||||
EXPENSES: | ||||||||||||||||||
Investment management fees | 1,668,104 | 966,736 | 5,487,035 | 4,231,728 | ||||||||||||||
Distribution and service fees: | ||||||||||||||||||
Class A | — | — | 602,894 | 459,691 | ||||||||||||||
Class B | — | — | 26,235 | 39,593 | ||||||||||||||
Class C | — | — | 228,362 | 291,575 | ||||||||||||||
Class O | — | — | — | 3,698 | ||||||||||||||
Transfer agent fees: | ||||||||||||||||||
Class A | — | — | 207,118 | 162,152 | ||||||||||||||
Class B | — | — | 2,265 | 5,054 | ||||||||||||||
Class C | — | — | 19,887 | 35,642 | ||||||||||||||
Class I | 1,003 | 524 | 35,110 | 49,162 | ||||||||||||||
Class O | — | — | — | 1,710 | ||||||||||||||
Class W | — | — | 10,062 | 48,528 | ||||||||||||||
Administrative service fees | 222,412 | 128,897 | 592,763 | 423,170 | ||||||||||||||
Shareholder reporting expense | 45,012 | 43,654 | 41,841 | 57,101 | ||||||||||||||
Registration fees | 22,378 | 3,119 | 94,685 | 87,750 | ||||||||||||||
Professional fees | 29,784 | 35,999 | 71,111 | 63,461 | ||||||||||||||
Custody and accounting expense | 172,150 | 125,623 | 338,702 | 346,738 | ||||||||||||||
Trustee fees | 6,449 | 3,527 | 15,268 | 14,391 | ||||||||||||||
Offering expense | 48,460 | 54,884 | — | — | ||||||||||||||
Miscellaneous expense | 11,273 | 11,651 | 23,629 | 16,845 | ||||||||||||||
Interest expense | — | — | 4,097 | 4,564 | ||||||||||||||
Total expenses | 2,227,025 | 1,374,614 | 7,801,064 | 6,342,553 | ||||||||||||||
Net recouped/waived and reimbursed fees | (111,853 | ) | (97,201 | ) | 14 | (87,024 | ) | |||||||||||
Brokerage commission recapture | (2,348 | ) | — | — | — | |||||||||||||
Net expenses | 2,112,824 | 1,277,413 | 7,801,078 | 6,255,529 | ||||||||||||||
Net investment income | 3,449,116 | 2,459,539 | 11,496,038 | 4,194,520 | ||||||||||||||
REALIZED AND UNREALIZED GAIN (LOSS): | ||||||||||||||||||
Net realized gain (loss) on: | ||||||||||||||||||
Investments | (21,295,047 | ) | 508,938 | 18,117,842 | 44,967,276 | |||||||||||||
Capital gain distributions from affiliated underlying funds | — | — | — | 308 | ||||||||||||||
Capital gain distributions from underlying funds | — | — | — | 6 | ||||||||||||||
Foreign currency related transactions | (943,170 | ) | (88,485 | ) | (121,446 | ) | (39,348 | ) | ||||||||||
Net realized gain (loss) | (22,238,217 | ) | 420,453 | 17,996,396 | 44,928,242 | |||||||||||||
Net change in unrealized appreciation (depreciation) on: | ||||||||||||||||||
Investments | (20,679,336 | ) | (14,070,003 | ) | (65,237,599 | ) | (62,903,388 | ) | ||||||||||
Foreign currency related transactions | 278,770 | (5,451 | ) | (58,434 | ) | (82,032 | ) | |||||||||||
Net change in unrealized appreciation (depreciation) | (20,400,566 | ) | (14,075,454 | ) | (65,296,033 | ) | (62,985,420 | ) | ||||||||||
Net realized and unrealized loss | (42,638,783 | ) | (13,655,001 | ) | (47,299,637 | ) | (18,057,178 | ) | ||||||||||
Decrease in net assets resulting from operations | $ | (39,189,667 | ) | $ | (11,195,462 | ) | $ | (35,803,599 | ) | $ | (13,862,658 | ) | ||||||
* Foreign taxes withheld | $ | 551,608 | $ | 278,808 | $ | 1,581,740 | $ | 788,420 | ||||||||||
(1) Commencement of operations. |
ING International Value Choice Fund | ING International Value Fund | ING Russia Fund | ||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
INVESTMENT INCOME: | ||||||||||||||
Dividends, net of foreign taxes withheld* | $ | 1,497,002 | $ | 32,617,967 | $ | 7,485,789 | ||||||||
Dividends from affiliated underlying funds | 90 | 740 | — | |||||||||||
Securities lending income, net | — | 16,433 | 127,757 | |||||||||||
Total investment income | 1,497,092 | 32,635,140 | 7,613,546 | |||||||||||
EXPENSES: | ||||||||||||||
Investment management fees | 491,386 | 9,950,708 | 5,501,769 | |||||||||||
Distribution and service fees: | ||||||||||||||
Class A | 58,867 | 1,305,766 | 1,072,452 | |||||||||||
Class B | 8,046 | 22,236 | — | |||||||||||
Class C | 52,474 | 1,776,677 | — | |||||||||||
Transfer agent fees: | ||||||||||||||
Class A | 46,475 | 557,029 | 521,695 | |||||||||||
Class B | 1,590 | 2,873 | — | |||||||||||
Class C | 10,362 | 225,659 | — | |||||||||||
Class I | 2,274 | 236,993 | 8,200 | |||||||||||
Class W | 143 | 6,578 | 1 | |||||||||||
Administrative service fees | 49,138 | 995,060 | 440,137 | |||||||||||
Shareholder reporting expense | 10,533 | 229,506 | 81,821 | |||||||||||
Registration fees | 73,778 | 87,091 | 51,371 | |||||||||||
Professional fees | 16,849 | 150,856 | 52,361 | |||||||||||
Custody and accounting expense | 20,740 | 465,725 | 1,101,965 | |||||||||||
Trustee fees | 1,525 | 25,679 | 14,751 | |||||||||||
Miscellaneous expense | 7,747 | 207,385 | 19,822 | |||||||||||
Merger expense | — | 7,014 | — | |||||||||||
Interest expense | — | 16,992 | 3,516 | |||||||||||
Total expenses | 851,927 | 16,269,827 | 8,869,861 | |||||||||||
Net waived and reimbursed fees | (84,192 | ) | (128,521 | ) | — | |||||||||
Brokerage commission recapture | — | (8,123 | ) | — | ||||||||||
Net expenses | 767,735 | 16,133,183 | 8,869,861 | |||||||||||
Net investment income (loss) | 729,357 | 16,501,957 | (1,256,315 | ) | ||||||||||
REALIZED AND UNREALIZED GAIN (LOSS): | ||||||||||||||
Net realized gain (loss) on: | ||||||||||||||
Investments | (263,539 | ) | (14,873,429 | ) | 1,665,095 | |||||||||
Capital gain distributions from affiliated underlying funds | 236 | 3,993 | — | |||||||||||
Capital gain distributions from underlying funds | 20 | 82 | — | |||||||||||
Foreign currency related transactions | (2,661 | ) | (657,898 | ) | (13,742 | ) | ||||||||
Net realized gain (loss) | (265,944 | ) | (15,527,252 | ) | 1,651,353 | |||||||||
Net change in unrealized appreciation (depreciation) on: | ||||||||||||||
Investments | (4,460,952 | ) | (63,476,393 | ) | (29,225,087 | ) | ||||||||
Foreign currency related transactions | (8,645 | ) | (230,585 | ) | (57,170 | ) | ||||||||
Net change in unrealized appreciation (depreciation) | (4,469,597 | ) | (63,706,978 | ) | (29,282,257 | ) | ||||||||
Net realized and unrealized loss | (4,735,541 | ) | (79,234,230 | ) | (27,630,904 | ) | ||||||||
Decrease in net assets resulting from operations | $ | (4,006,184 | ) | $ | (62,732,273 | ) | $ | (28,887,219 | ) | |||||
* Foreign taxes withheld | $ | 161,852 | $ | 3,530,821 | $ | 1,552,673 |
ING Diversified International Fund | ING Emerging Countries Fund | ||||||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Year Ended October 31, 2011 | Year Ended October 31, 2010 | Year Ended October 31, 2011 | Year Ended October 31, 2010 | ||||||||||||||||
FROM OPERATIONS: | |||||||||||||||||||
Net investment income (loss) | $ | 1,061,111 | $ | 927,344 | $ | 647,671 | $ | (279,306 | ) | ||||||||||
Net realized gain (loss) | 18,677,621 | (29,774,620 | ) | 1,766,395 | 19,585,960 | ||||||||||||||
Net change in unrealized appreciation (depreciation) | (28,118,960 | ) | 53,786,539 | (28,437,751 | ) | 10,439,846 | |||||||||||||
Increase (decrease) in net assets resulting from operations | (8,380,228 | ) | 24,939,263 | (26,023,685 | ) | 29,746,500 | |||||||||||||
FROM DISTRIBUTIONS TO SHAREHOLDERS: | |||||||||||||||||||
Net investment income: | |||||||||||||||||||
Class A | (849,416 | ) | (846,171 | ) | (1,500 | ) | — | ||||||||||||
Class B | (6,446 | ) | (896 | ) | (47 | ) | — | ||||||||||||
Class C | (41,009 | ) | — | (284 | ) | — | |||||||||||||
Class I | (101,208 | ) | (29,093 | ) | (104,897 | ) | — | ||||||||||||
Class O | (31,234 | ) | (20,511 | ) | — | — | |||||||||||||
Class R | (1,151 | ) | (977 | ) | — | — | |||||||||||||
Class W | (30,647 | ) | (29,696 | ) | (6,703 | ) | — | ||||||||||||
Return of capital: | |||||||||||||||||||
Class A | (101,282 | ) | (200,627 | ) | — | — | |||||||||||||
Class B | (16,186 | ) | (25,512 | ) | — | — | |||||||||||||
Class C | (58,887 | ) | (57,030 | ) | — | — | |||||||||||||
Class I | (8,943 | ) | (4,115 | ) | — | — | |||||||||||||
Class O | (3,222 | ) | (2,799 | ) | — | — | |||||||||||||
Class R | (181 | ) | (256 | ) | — | — | |||||||||||||
Class W | (2,634 | ) | (3,548 | ) | — | — | |||||||||||||
Total distributions | (1,252,446 | ) | (1,221,231 | ) | (113,431 | ) | — | ||||||||||||
FROM CAPITAL SHARE TRANSACTIONS: | |||||||||||||||||||
Net proceeds from sale of shares | 22,363,258 | 30,343,239 | 38,195,069 | 74,363,135 | |||||||||||||||
Reinvestment of distributions | 1,031,590 | 996,905 | 111,428 | — | |||||||||||||||
23,394,848 | 31,340,144 | 38,306,497 | 74,363,135 | ||||||||||||||||
Cost of shares redeemed | (79,537,970 | ) | (91,798,664 | ) | (111,202,692 | ) | (57,366,562 | ) | |||||||||||
Net increase (decrease) in net assets resulting from capital share transactions | (56,143,122 | ) | (60,458,520 | ) | (72,896,195 | ) | 16,996,573 | ||||||||||||
Net increase (decrease) in net assets | (65,775,796 | ) | (36,740,488 | ) | (99,033,311 | ) | 46,743,073 | ||||||||||||
NET ASSETS: | |||||||||||||||||||
Beginning of year | 192,838,237 | 229,578,725 | 184,741,562 | 137,998,489 | |||||||||||||||
End of year | $ | 127,062,441 | $ | 192,838,237 | $ | 85,708,251 | $ | 184,741,562 | |||||||||||
Undistributed (distributions in excess of) net investment income at end of year | $ | (3,478 | ) | $ | — | $ | (219 | ) | $ | 655 | |||||||||
ING Emerging Markets Equity Fund | ING Global Bond Fund | ||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
October 11, 2011(1) to October 31, 2011 | Year Ended October 31, 2011 | Year Ended October 31, 2010 | |||||||||||||
FROM OPERATIONS: | |||||||||||||||
Net investment income | $ | 28,875 | $ | 21,852,387 | $ | 18,339,354 | |||||||||
Net realized gain | 8,717 | 16,073,329 | 5,162,548 | ||||||||||||
Net change in unrealized appreciation (depreciation) | 6,288,829 | (32,404,908 | ) | 7,134,786 | |||||||||||
Increase in net assets resulting from operations | 6,326,421 | 5,520,808 | 30,636,688 | ||||||||||||
FROM DISTRIBUTIONS TO SHAREHOLDERS: | |||||||||||||||
Net investment income: | |||||||||||||||
Class A | — | (10,319,094 | ) | (8,503,345 | ) | ||||||||||
Class B | — | (123,842 | ) | (249,779 | ) | ||||||||||
Class C | — | (3,634,043 | ) | (3,217,253 | ) | ||||||||||
Class I | — | (12,386,732 | ) | (10,213,440 | ) | ||||||||||
Class O | — | (182,335 | ) | (214,190 | ) | ||||||||||
Class R | — | (28 | ) | — | |||||||||||
Class W | — | (781,331 | ) | (318,477 | ) | ||||||||||
Net realized gains: | |||||||||||||||
Class A | — | (1,887,005 | ) | (516,361 | ) | ||||||||||
Class B | — | (32,368 | ) | (18,877 | ) | ||||||||||
Class C | — | (837,018 | ) | (213,755 | ) | ||||||||||
Class I | — | (2,007,676 | ) | (548,181 | ) | ||||||||||
Class O | — | (33,672 | ) | (14,374 | ) | ||||||||||
Class R | — | (2 | ) | — | |||||||||||
Class W | — | (135,360 | ) | (13,604 | ) | ||||||||||
Total distributions | — | (32,360,506 | ) | (24,041,636 | ) | ||||||||||
FROM CAPITAL SHARE TRANSACTIONS: | |||||||||||||||
Net proceeds from sale of shares | 86,370,258 | 391,678,723 | 383,281,955 | ||||||||||||
Reinvestment of distributions | — | 28,050,981 | 20,137,963 | ||||||||||||
86,370,258 | 419,729,704 | 403,419,918 | |||||||||||||
Cost of shares redeemed | (2,442,218 | ) | (284,914,258 | ) | (178,206,588 | ) | |||||||||
Net increase in net assets resulting from capital share transactions | 83,928,040 | 134,815,446 | 225,213,330 | ||||||||||||
Net increase in net assets | 90,254,461 | 107,975,748 | 231,808,382 | ||||||||||||
NET ASSETS: | |||||||||||||||
Beginning of year or period | — | 526,809,826 | 295,001,444 | ||||||||||||
End of year or period | $ | 90,254,461 | $ | 634,785,574 | $ | 526,809,826 | |||||||||
Undistributed net investment income at end of year or period | $ | — | $ | 396,522 | $ | 5,166,181 | |||||||||
(1) Commencement of operations. |
ING Global Equity Dividend Fund | ING Global Natural Resources Fund | ||||||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Year Ended October 31, 2011 | Year Ended October 31, 2010 | Year Ended October 31, 2011 | Year Ended October 31, 2010 | ||||||||||||||||
FROM OPERATIONS: | |||||||||||||||||||
Net investment income (loss) | $ | 2,570,973 | $ | 3,435,716 | $ | (7,619 | ) | $ | 131,066 | ||||||||||
Net realized gain | 10,591,735 | 9,295,314 | 7,013,328 | 3,243,879 | |||||||||||||||
Net change in unrealized appreciation (depreciation) | (10,445,478 | ) | 3,895,767 | (823,473 | ) | 8,482,012 | |||||||||||||
Increase in net assets resulting from operations | 2,717,230 | 16,626,797 | 6,182,236 | 11,856,957 | |||||||||||||||
FROM DISTRIBUTIONS TO SHAREHOLDERS: | |||||||||||||||||||
Net investment income: | |||||||||||||||||||
Class A | (874,518 | ) | (1,099,380 | ) | (48,857 | ) | (297,867 | ) | |||||||||||
Class B | (119,042 | ) | (232,057 | ) | — | — | |||||||||||||
Class C | (405,823 | ) | (572,183 | ) | — | — | |||||||||||||
Class I | (183,379 | ) | (173,783 | ) | (4,269 | ) | (4,054 | ) | |||||||||||
Class O | (333,562 | ) | (380,980 | ) | — | — | |||||||||||||
Class W | (177,709 | ) | (776,958 | ) | (286 | ) | (986 | ) | |||||||||||
Total distributions | (2,094,033 | ) | (3,235,341 | ) | (53,412 | ) | (302,907 | ) | |||||||||||
FROM CAPITAL SHARE TRANSACTIONS: | |||||||||||||||||||
Net proceeds from sale of shares | 16,908,904 | 42,190,089 | 25,951,963 | 17,893,170 | |||||||||||||||
Reinvestment of distributions | 1,331,676 | 2,013,907 | 45,055 | 265,592 | |||||||||||||||
18,240,580 | 44,203,996 | 25,997,018 | 18,158,762 | ||||||||||||||||
Cost of shares redeemed | (86,143,790 | ) | (49,087,115 | ) | (23,993,332 | ) | (25,151,505 | ) | |||||||||||
Net increase (decrease) in net assets resulting from capital share transactions | (67,903,210 | ) | (4,883,119 | ) | 2,003,686 | (6,992,743 | ) | ||||||||||||
Net increase (decrease) in net assets | (67,280,013 | ) | 8,508,337 | 8,132,510 | 4,561,307 | ||||||||||||||
NET ASSETS: | |||||||||||||||||||
Beginning of year | 147,278,723 | 138,770,386 | 104,931,883 | 100,370,576 | |||||||||||||||
End of year | $ | 79,998,710 | $ | 147,278,723 | $ | 113,064,393 | $ | 104,931,883 | |||||||||||
Undistributed (distributions in excess of) net investment income at end of year | $ | 142,765 | $ | 5,700 | $ | (1,076 | ) | $ | (1,181 | ) |
ING Global Opportunities Fund | ING Global Real Estate Fund | ||||||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Year Ended October 31, 2011 | Year Ended October 31, 2010 | Year Ended October 31, 2011 | Year Ended October 31, 2010 | ||||||||||||||||
FROM OPERATIONS: | |||||||||||||||||||
Net investment income (loss) | $ | (175,281 | ) | $ | 392,350 | $ | 49,759,483 | $ | 36,629,428 | ||||||||||
Net realized gain (loss) | 14,706,708 | 34,377,727 | 8,516,485 | (57,066,926 | ) | ||||||||||||||
Net change in unrealized appreciation (depreciation) | (15,687,588 | ) | (23,110,637 | ) | (70,803,600 | ) | 466,607,069 | ||||||||||||
Increase (decrease) in net assets resulting from operations | (1,156,161 | ) | 11,659,440 | (12,527,632 | ) | 446,169,571 | |||||||||||||
FROM DISTRIBUTIONS TO SHAREHOLDERS: | |||||||||||||||||||
Net investment income: | |||||||||||||||||||
Class A | (1,182,323 | ) | — | (35,022,501 | ) | (52,577,111 | ) | ||||||||||||
Class B | (118,277 | ) | — | (493,908 | ) | (1,269,597 | ) | ||||||||||||
Class C | (655,582 | ) | — | (5,139,321 | ) | (8,728,497 | ) | ||||||||||||
Class I | (248,370 | ) | — | (45,540,364 | ) | (38,316,201 | ) | ||||||||||||
Class O | — | — | (398,628 | ) | (742,011 | ) | |||||||||||||
Class R | — | — | (11 | ) | — | ||||||||||||||
Class W | (5,789 | ) | — | (8,822,397 | ) | (9,909,852 | ) | ||||||||||||
Return of capital: | |||||||||||||||||||
Class A | — | — | (11,743,583 | ) | — | ||||||||||||||
Class B | — | — | (178,053 | ) | — | ||||||||||||||
Class C | — | — | (2,200,041 | ) | — | ||||||||||||||
Class I | — | — | (14,846,105 | ) | — | ||||||||||||||
Class O | — | — | (126,017 | ) | — | ||||||||||||||
Class R | — | — | (9 | ) | — | ||||||||||||||
Class W | — | — | (2,781,899 | ) | — | ||||||||||||||
Total distributions | (2,210,341 | ) | — | (127,292,837 | ) | (111,543,269 | ) | ||||||||||||
FROM CAPITAL SHARE TRANSACTIONS: | |||||||||||||||||||
Net proceeds from sale of shares | 8,643,382 | 23,504,697 | 1,702,326,514 | 1,542,276,839 | |||||||||||||||
Reinvestment of distributions | 1,766,239 | — | 109,936,296 | 90,697,315 | |||||||||||||||
10,409,621 | 23,504,697 | 1,812,262,810 | 1,632,974,154 | ||||||||||||||||
Cost of shares redeemed | (66,323,076 | ) | (160,748,061 | ) | (1,128,349,528 | ) | (759,323,843 | ) | |||||||||||
Net increase (decrease) in net assets resulting from capital share transactions | (55,913,455 | ) | (137,243,364 | ) | 683,913,282 | 873,650,311 | |||||||||||||
Net increase (decrease) in net assets | (59,279,957 | ) | (125,583,924 | ) | 544,092,813 | 1,208,276,613 | |||||||||||||
NET ASSETS: | |||||||||||||||||||
Beginning of year | 124,843,949 | 250,427,873 | 2,896,782,593 | 1,688,505,980 | |||||||||||||||
End of year | $ | 65,563,992 | $ | 124,843,949 | $ | 3,440,875,406 | $ | 2,896,782,593 | |||||||||||
Undistributed (distributions in excess of) net investment income at end of year | $ | 223 | $ | 2,211,837 | $ | 21,085,832 | $ | (10,030,598 | ) | ||||||||||
ING Global Value Choice Fund | ING Greater China Fund | ||||||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Year Ended October 31, 2011 | Year Ended October 31, 2010 | Year Ended October 31, 2011 | Year Ended October 31, 2010 | ||||||||||||||||
FROM OPERATIONS: | |||||||||||||||||||
Net investment income | $ | 4,470,605 | $ | 973,501 | $ | 81,193 | $ | 79,602 | |||||||||||
Net realized gain | 72,126,776 | 29,566,223 | 2,278,877 | 3,911,260 | |||||||||||||||
Net change in unrealized appreciation (depreciation) | (72,744,924 | ) | 30,438,831 | (7,368,825 | ) | 2,259,255 | |||||||||||||
Increase (decrease) in net assets resulting from operations | 3,852,457 | 60,978,555 | (5,008,755 | ) | 6,250,117 | ||||||||||||||
FROM DISTRIBUTIONS TO SHAREHOLDERS: | |||||||||||||||||||
Net investment income: | |||||||||||||||||||
Class A | (3,111,531 | ) | (751,278 | ) | (325,406 | ) | (506,388 | ) | |||||||||||
Class B | (43,014 | ) | (18,461 | ) | (12,309 | ) | (27,549 | ) | |||||||||||
Class C | (1,315,055 | ) | (160,740 | ) | (29,517 | ) | (72,785 | ) | |||||||||||
Class I | (2,957,286 | ) | (97,710 | ) | (33,759 | ) | (13,810 | ) | |||||||||||
Class O | — | — | (55,567 | ) | (55,680 | ) | |||||||||||||
Class Q(1) | — | (5,431 | ) | — | — | ||||||||||||||
Class W | (584,591 | ) | (17,043 | ) | — | — | |||||||||||||
Total distributions | (8,011,477 | ) | (1,050,663 | ) | (456,558 | ) | (676,212 | ) | |||||||||||
FROM CAPITAL SHARE TRANSACTIONS: | |||||||||||||||||||
Net proceeds from sale of shares | 389,319,314 | 376,846,120 | 9,633,718 | 15,613,491 | |||||||||||||||
Payment from distribution settlement | — | 389,524 | — | — | |||||||||||||||
Reinvestment of distributions | 4,386,066 | 760,106 | 354,275 | 551,175 | |||||||||||||||
393,705,380 | 377,995,750 | 9,987,993 | 16,164,666 | ||||||||||||||||
Cost of shares redeemed | (243,707,957 | ) | (119,767,474 | ) | (15,867,785 | ) | (22,447,403 | ) | |||||||||||
Net increase (decrease) in net assets resulting from capital share transactions | 149,997,423 | 258,228,276 | (5,879,792 | ) | (6,282,737 | ) | |||||||||||||
Net increase (decrease) in net assets | 145,838,403 | 318,156,168 | (11,345,105 | ) | (708,832 | ) | |||||||||||||
NET ASSETS: | |||||||||||||||||||
Beginning of year | 494,326,622 | 176,170,454 | 45,234,303 | 45,943,135 | |||||||||||||||
End of year | $ | 640,165,025 | $ | 494,326,622 | $ | 33,889,198 | $ | 45,234,303 | |||||||||||
Undistributed (distributions in excess of) net investment income at end of year | $ | 4,867,897 | $ | 8,013,215 | $ | (462 | ) | $ | 456,008 | ||||||||||
(1) Effective November 20, 2009, Class Q shareholders of ING Global Value Choice Fund were converted to Class W shares of the Fund. |
ING Index Plus International Equity Fund | ING International Capital Appreciation Fund | ||||||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Year Ended October 31, 2011 | Year Ended October 31, 2010 | Year Ended October 31, 2011 | Year Ended October 31, 2010 | ||||||||||||||||
FROM OPERATIONS: | |||||||||||||||||||
Net investment income | $ | 2,130,084 | $ | 2,073,406 | $ | 359,604 | $ | 604,292 | |||||||||||
Net realized gain | 7,773,885 | 5,432,248 | 14,412,480 | 6,952,425 | |||||||||||||||
Net change in unrealized appreciation (depreciation) | (10,985,298 | ) | 8,811,031 | (15,105,499 | ) | 4,654,819 | |||||||||||||
Increase (decrease) in net assets resulting from operations | (1,081,329 | ) | 16,316,685 | (333,415 | ) | 12,211,536 | |||||||||||||
FROM DISTRIBUTIONS TO SHAREHOLDERS: | |||||||||||||||||||
Net investment income: | |||||||||||||||||||
Class A | (119,991 | ) | (169,055 | ) | (83,454 | ) | — | ||||||||||||
Class B | (2,716 | ) | (11,703 | ) | (1,646 | ) | — | ||||||||||||
Class C | (5,994 | ) | (16,513 | ) | (5,304 | ) | — | ||||||||||||
Class I | (1,354,511 | ) | (1,026,008 | ) | (457,301 | ) | — | ||||||||||||
Class O | (609,056 | ) | (889,985 | ) | — | — | |||||||||||||
Class W | — | — | (69,778 | ) | — | ||||||||||||||
Total distributions | (2,092,268 | ) | (2,113,264 | ) | (617,483 | ) | — | ||||||||||||
FROM CAPITAL SHARE TRANSACTIONS: | |||||||||||||||||||
Net proceeds from sale of shares | 51,836,203 | 51,021,784 | 4,324,222 | 25,162,278 | |||||||||||||||
Payment from distribution settlement | — | 14,363 | — | 17,464 | |||||||||||||||
Reinvestment of distributions | 1,504,647 | 1,254,275 | 605,774 | — | |||||||||||||||
53,340,850 | 52,290,422 | 4,929,996 | 25,179,742 | ||||||||||||||||
Cost of shares redeemed | (93,789,046 | ) | (38,109,545 | ) | (70,462,404 | ) | (42,618,091 | ) | |||||||||||
Net increase (decrease) in net assets resulting from capital share transactions | (40,448,196 | ) | 14,180,877 | (65,532,408 | ) | (17,438,349 | ) | ||||||||||||
Net increase (decrease) in net assets | (43,621,793 | ) | 28,384,298 | (66,483,306 | ) | (5,226,813 | ) | ||||||||||||
NET ASSETS: | |||||||||||||||||||
Beginning of year | 138,350,735 | 109,966,437 | 103,510,559 | 108,737,372 | |||||||||||||||
End of year | $ | 94,728,942 | $ | 138,350,735 | $ | 37,027,253 | $ | 103,510,559 | |||||||||||
Undistributed net investment income at end of year | $ | 2,285,357 | $ | 1,932,025 | $ | 214,249 | $ | 551,666 | |||||||||||
ING International Core Fund | ING International Growth Fund | ING International Real Estate Fund | |||||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
February 8, 2011(1) to October 31, 2011 | January 6, 2011(1) to October 31, 2011 | Year Ended October 31, 2011 | Year Ended October 31, 2010 | ||||||||||||||||
FROM OPERATIONS: | |||||||||||||||||||
Net investment income | $ | 3,449,116 | $ | 2,459,539 | $ | 11,496,038 | $ | 10,587,951 | |||||||||||
Net realized gain (loss) | (22,238,217 | ) | 420,453 | 17,996,396 | (25,939,550 | ) | |||||||||||||
Net change in unrealized appreciation (depreciation) | (20,400,566 | ) | (14,075,454 | ) | (65,296,033 | ) | 83,023,827 | ||||||||||||
Increase (decrease) in net assets resulting from operations | (39,189,667 | ) | (11,195,462 | ) | (35,803,599 | ) | 67,672,228 | ||||||||||||
FROM DISTRIBUTIONS TO SHAREHOLDERS: | |||||||||||||||||||
Net investment income: | |||||||||||||||||||
Class A | — | — | (12,831,675 | ) | (10,206,548 | ) | |||||||||||||
Class B | — | — | (124,007 | ) | (247,391 | ) | |||||||||||||
Class C | — | — | (1,079,933 | ) | (1,741,535 | ) | |||||||||||||
Class I | — | — | (18,649,312 | ) | (28,888,201 | ) | |||||||||||||
Class W | — | — | (569,593 | ) | (197,296 | ) | |||||||||||||
Total distributions | — | — | (33,254,520 | ) | (41,280,971 | ) | |||||||||||||
FROM CAPITAL SHARE TRANSACTIONS: | |||||||||||||||||||
Net proceeds from sale of shares | 448,417,065 | 199,737,196 | 137,494,697 | 240,789,962 | |||||||||||||||
Reinvestment of distributions | — | — | 13,943,866 | 16,644,023 | |||||||||||||||
448,417,065 | 199,737,196 | 151,438,563 | 257,433,985 | ||||||||||||||||
Cost of shares redeemed | (59,613,945 | ) | (38,310,028 | ) | (248,151,949 | ) | (180,122,321 | ) | |||||||||||
Net increase (decrease) in net assets resulting from capital share transactions | 388,803,120 | 161,427,168 | (96,713,386 | ) | 77,311,664 | ||||||||||||||
Net increase (decrease) in net assets | 349,613,453 | 150,231,706 | (165,771,505 | ) | 103,702,921 | ||||||||||||||
NET ASSETS: | |||||||||||||||||||
Beginning of year or period | — | — | 640,431,692 | 536,728,771 | |||||||||||||||
End of year or period | $ | 349,613,453 | $ | 150,231,706 | $ | 474,660,187 | $ | 640,431,692 | |||||||||||
Undistributed net investment income at end of year or period | $ | 2,528,280 | $ | 2,392,205 | $ | 1,024,400 | $ | 21,444,431 | |||||||||||
(1) Commencement of operations. |
ING International SmallCap Multi-Manager Fund | ING International Value Choice Fund | ||||||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Year Ended October 31, 2011 | Year Ended October 31, 2010 | Year Ended October 31, 2011 | Year Ended October 31, 2010 | ||||||||||||||||
FROM OPERATIONS: | |||||||||||||||||||
Net investment income | $ | 4,194,520 | $ | 2,716,015 | $ | 729,357 | $ | 471,083 | |||||||||||
Net realized gain (loss) | 44,928,242 | 33,364,816 | (265,944 | ) | 267,607 | ||||||||||||||
Net change in unrealized appreciation (depreciation) | (62,985,420 | ) | 42,545,269 | (4,469,597 | ) | 5,286,894 | |||||||||||||
Increase (decrease) in net assets resulting from operations | (13,862,658 | ) | 78,626,100 | (4,006,184 | ) | 6,025,584 | |||||||||||||
FROM DISTRIBUTIONS TO SHAREHOLDERS: | |||||||||||||||||||
Net investment income: | |||||||||||||||||||
Class A | (540,772 | ) | (2,214,496 | ) | (190,808 | ) | (131,060 | ) | |||||||||||
Class B | (56 | ) | (27,325 | ) | — | (1,702 | ) | ||||||||||||
Class C | (572 | ) | (246,685 | ) | (12,953 | ) | (4,059 | ) | |||||||||||
Class I | (1,827,105 | ) | (2,893,717 | ) | (187,574 | ) | (227,476 | ) | |||||||||||
Class O | (6,464 | ) | (9,289 | ) | — | — | |||||||||||||
Class Q(1) | — | (284,494 | ) | — | — | ||||||||||||||
Class W | (240,091 | ) | (288,761 | ) | (516 | ) | (27 | ) | |||||||||||
Total distributions | (2,615,060 | ) | (5,964,767 | ) | (391,851 | ) | (364,324 | ) | |||||||||||
FROM CAPITAL SHARE TRANSACTIONS: | |||||||||||||||||||
Net proceeds from sale of shares | 79,921,323 | 109,000,144 | 22,439,247 | 22,686,014 | |||||||||||||||
Payment from distribution settlement | 136,362 | 1,034,530 | — | — | |||||||||||||||
Reinvestment of distributions | 1,515,427 | 3,818,283 | 351,441 | 350,219 | |||||||||||||||
81,573,112 | 113,852,957 | 22,790,688 | 23,036,233 | ||||||||||||||||
Cost of shares redeemed | (192,605,155 | ) | (178,117,169 | ) | (35,264,069 | ) | (31,051,386 | ) | |||||||||||
Net decrease in net assets resulting from capital share transactions | (111,032,043 | ) | (64,264,212 | ) | (12,473,381 | ) | (8,015,153 | ) | |||||||||||
Net increase (decrease) in net assets | (127,509,761 | ) | 8,397,121 | (16,871,416 | ) | (2,353,893 | ) | ||||||||||||
NET ASSETS: | |||||||||||||||||||
Beginning of year | 435,178,728 | 426,781,607 | 46,794,201 | 49,148,094 | |||||||||||||||
End of year | $ | 307,668,967 | $ | 435,178,728 | $ | 29,922,785 | $ | 46,794,201 | |||||||||||
Undistributed net investment income at end of year | $ | 4,023,061 | $ | 2,619,329 | $ | 725,238 | $ | 387,496 | |||||||||||
(1) Effective November 20, 2009, Class Q Shareholders of ING International SmallCap Multi-Manager Fund were converted to class W shares of the Fund. |
ING International Value Fund | ING Russia Fund | ||||||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Year Ended October 31, 2011 | Year Ended October 31, 2010 | Year Ended October 31, 2011 | Year Ended October 31, 2010 | ||||||||||||||||
FROM OPERATIONS: | |||||||||||||||||||
Net investment income (loss) | $ | 16,501,957 | $ | 24,236,719 | $ | (1,256,315 | ) | $ | (3,970,449 | ) | |||||||||
Net realized gain (loss) | (15,527,252 | ) | (67,022,980 | ) | 1,651,353 | (28,250,872 | ) | ||||||||||||
Net change in unrealized appreciation (depreciation) | (63,706,978 | ) | 109,889,727 | (29,282,257 | ) | 115,182,951 | |||||||||||||
Increase (decrease) in net assets resulting from operations | (62,732,273 | ) | 67,103,466 | (28,887,219 | ) | 82,961,630 | |||||||||||||
FROM DISTRIBUTIONS TO SHAREHOLDERS: | |||||||||||||||||||
Net investment income: | |||||||||||||||||||
Class A | (10,059,110 | ) | (10,943,798 | ) | — | — | |||||||||||||
Class B | (81 | ) | (133,023 | ) | — | — | |||||||||||||
Class C | (2,824,431 | ) | (2,639,332 | ) | — | — | |||||||||||||
Class I | (9,798,033 | ) | (11,909,194 | ) | — | — | |||||||||||||
Class Q(1) | — | (415,057 | ) | — | — | ||||||||||||||
Class W | (545,238 | ) | (75,790 | ) | — | — | |||||||||||||
Total distributions | (23,226,893 | ) | (26,116,194 | ) | — | — | |||||||||||||
FROM CAPITAL SHARE TRANSACTIONS: | |||||||||||||||||||
Net proceeds from sale of shares | 158,710,188 | 176,559,300 | 62,067,223 | 71,709,252 | |||||||||||||||
Payment from distribution settlement | 115,624 | 2,544,969 | — | — | |||||||||||||||
Reinvestment of distributions | 18,121,879 | 19,300,834 | — | — | |||||||||||||||
176,947,691 | 198,405,103 | 62,067,223 | 71,709,252 | ||||||||||||||||
Redemption Fee Proceeds | — | — | 217,940 | 374,780 | |||||||||||||||
Cost of shares redeemed | (623,758,163 | ) | (676,759,545 | ) | (131,466,024 | ) | (101,984,599 | ) | |||||||||||
Net decrease in net assets resulting from capital share transactions | (446,810,472 | ) | (478,354,442 | ) | (69,180,861 | ) | (29,900,567 | ) | |||||||||||
Net increase (decrease) in net assets | (532,769,638 | ) | (437,367,170 | ) | (98,068,080 | ) | 53,061,063 | ||||||||||||
NET ASSETS: | |||||||||||||||||||
Beginning of year | 1,236,550,132 | 1,673,917,302 | 426,313,033 | 373,251,970 | |||||||||||||||
End of year | $ | 703,780,494 | $ | 1,236,550,132 | $ | 328,244,953 | $ | 426,313,033 | |||||||||||
Undistributed net investment income/Accumulated net investment loss at end of year | $ | 16,370,623 | $ | 23,170,317 | $ | (6,466 | ) | $ | — | ||||||||||
(1) Effective November 20, 2009, Class Q shareholders of ING International Value Fund were converted to Class W shares of the Fund. |
Income (loss) from investment operations | | Less distributions | | Ratios to average net assets | Supplemental data | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Net asset value, beginning of year or period | | Net investment income (loss) | | Net realized and unrealized gain (loss) | | Total from investment operations | | From net investment income | | From net realized gains | | From return of capital | | Total distributions | | Payments from Distribution settlement/ affiliate | | Redemption fees applied to capital | | Net asset value, end of year or period | | Total Return (1) | | Expenses before reductions/ additions (2) | | Expenses net of fee waivers and/or recoupments, if any (2)(3) | | Expenses net of all reductions/ additions (2)(3) | | Net investment income (loss) (2)(3) | | Net assets, end of year or period | | Portfolio turnover rate | ||||||||||||||||||||||||||||||||||||||
Year or period ended | ($) | | ($) | | ($) | | ($) | | ($) | | ($) | | ($) | | ($) | | ($) | | ($) | | ($) | | (%) | | (%) | | (%) | | (%) | | (%) | | ($000’s) | | (%) | |||||||||||||||||||||||||||||||||||||
ING Diversified International Fund | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Class A | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
10-31-11 | 9.33 | 0.08 | (0.70 | ) | (0.62 | ) | 0.08 | — | 0.01 | 0.09 | — | — | 8.62 | (6.73 | ) | 0.68 | 0.50 | 0.50 | 0.97 | 61,325 | 112 | |||||||||||||||||||||||||||||||||||||||||||||||||||
10-31-10 | 8.27 | 0.06 | 1.07 | 1.13 | 0.06 | — | 0.01 | 0.07 | — | — | 9.33 | 13.71 | 0.63 | 0.39 | 0.39 | 0.76 | 102,460 | 49 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
10-31-09 | 7.30 | 0.24 | • | 1.59 | 1.83 | 0.86 | — | — | 0.86 | — | — | 8.27 | 28.22 | 0.76 | 0.38 | 0.38 | 3.45 | 129,966 | 32 | |||||||||||||||||||||||||||||||||||||||||||||||||||||
10-31-08 | 14.98 | 0.17 | • | (7.50 | ) | (7.33 | ) | 0.26 | 0.09 | — | 0.35 | — | — | 7.30 | (50.04 | ) | 0.57 | 0.31 | 0.31 | 1.41 | 167,282 | 55 | ||||||||||||||||||||||||||||||||||||||||||||||||||
10-31-07 | 11.61 | 0.05 | • | 3.38 | 3.43 | 0.06 | — | — | 0.06 | — | — | 14.98 | 29.66 | 0.55 | 0.21 | 0.21 | 0.37 | 383,364 | 32 | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Class B | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
10-31-11 | 9.27 | 0.02 | (0.71 | ) | (0.69 | ) | 0.00 | * | — | 0.01 | 0.01 | — | — | 8.57 | (7.42 | ) | 1.43 | 1.25 | 1.25 | 0.18 | 10,193 | 112 | ||||||||||||||||||||||||||||||||||||||||||||||||||
10-31-10 | 8.23 | (0.00 | )* | 1.05 | 1.05 | — | — | 0.01 | 0.01 | — | — | 9.27 | 12.78 | 1.38 | 1.14 | 1.14 | (0.03 | ) | 16,616 | 49 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
10-31-09 | 7.22 | 0.17 | • | 1.61 | 1.78 | 0.77 | — | — | 0.77 | — | — | 8.23 | 27.46 | 1.51 | 1.13 | 1.13 | 2.43 | 19,919 | 32 | |||||||||||||||||||||||||||||||||||||||||||||||||||||
10-31-08 | 14.84 | 0.07 | (7.43 | ) | (7.36 | ) | 0.17 | 0.09 | — | 0.26 | — | — | 7.22 | (50.43 | ) | 1.32 | 1.06 | 1.06 | 0.67 | 20,167 | 55 | |||||||||||||||||||||||||||||||||||||||||||||||||||
10-31-07 | 11.54 | (0.04 | ) | 3.35 | 3.31 | 0.01 | — | — | 0.01 | — | — | 14.84 | 28.68 | 1.30 | 0.96 | 0.96 | (0.34 | ) | 43,667 | 32 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Class C | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
10-31-11 | 9.26 | 0.01 | (0.70 | ) | (0.69 | ) | 0.01 | — | 0.01 | 0.02 | — | — | 8.55 | (7.51 | ) | 1.43 | 1.25 | 1.25 | 0.15 | 38,542 | 112 | |||||||||||||||||||||||||||||||||||||||||||||||||||
10-31-10 | 8.21 | (0.00 | )* | 1.06 | 1.06 | — | — | 0.01 | 0.01 | — | — | 9.26 | 12.88 | 1.38 | 1.14 | 1.14 | (0.01 | ) | 59,015 | 49 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
10-31-09 | 7.21 | 0.17 | • | 1.60 | 1.77 | 0.77 | — | — | 0.77 | — | — | 8.21 | 27.32 | 1.51 | 1.13 | 1.13 | 2.54 | 71,831 | 32 | |||||||||||||||||||||||||||||||||||||||||||||||||||||
10-31-08 | 14.83 | 0.07 | (7.42 | ) | (7.35 | ) | 0.18 | 0.09 | — | 0.27 | — | — | 7.21 | (50.43 | ) | 1.32 | 1.06 | 1.06 | 0.67 | 78,834 | 55 | |||||||||||||||||||||||||||||||||||||||||||||||||||
10-31-07 | 11.54 | (0.05 | )• | 3.35 | 3.30 | 0.01 | — | — | 0.01 | — | — | 14.83 | 28.63 | 1.30 | 0.96 | 0.96 | (0.39 | ) | 168,661 | 32 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Class I | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
10-31-11 | 9.32 | 0.08 | • | (0.67 | ) | (0.59 | ) | 0.11 | — | 0.01 | 0.12 | — | — | 8.61 | (6.46 | ) | 0.28 | 0.25 | 0.25 | 0.81 | 11,957 | 112 | ||||||||||||||||||||||||||||||||||||||||||||||||||
10-31-10 | 8.26 | 0.03 | • | 1.12 | 1.15 | 0.08 | — | 0.01 | 0.09 | — | — | 9.32 | 13.98 | 0.35 | 0.14 | 0.14 | 0.36 | 9,188 | 49 | |||||||||||||||||||||||||||||||||||||||||||||||||||||
10-31-09 | 7.30 | 0.31 | • | 1.55 | 1.86 | 0.90 | — | — | 0.90 | — | — | 8.26 | 28.78 | 0.48 | 0.10 | 0.10 | 4.55 | 3,209 | 32 | |||||||||||||||||||||||||||||||||||||||||||||||||||||
10-31-08 | 14.99 | 0.21 | (7.53 | ) | (7.32 | ) | 0.28 | 0.09 | — | 0.37 | — | — | 7.30 | (49.97 | ) | 0.32 | 0.06 | 0.06 | 1.69 | 16 | 55 | |||||||||||||||||||||||||||||||||||||||||||||||||||
10-31-07 | 11.63 | 0.03 | • | 3.41 | 3.44 | 0.08 | — | — | 0.08 | — | — | 14.99 | 29.69 | 0.30 | 0.09 | 0.09 | 0.21 | 32 | 32 | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Class O | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
10-31-11 | 9.28 | 0.07 | (0.69 | ) | (0.62 | ) | 0.09 | — | 0.01 | 0.10 | — | — | 8.56 | (6.75 | ) | 0.68 | 0.50 | 0.50 | 0.62 | 3,516 | 112 | |||||||||||||||||||||||||||||||||||||||||||||||||||
10-31-10 | 8.24 | 0.05 | • | 1.08 | 1.13 | 0.08 | — | 0.01 | 0.09 | — | — | 9.28 | 13.81 | 0.63 | 0.34 | 0.34 | 0.55 | 2,947 | 49 | |||||||||||||||||||||||||||||||||||||||||||||||||||||
10-31-09 | 7.29 | 0.10 | • | 1.74 | 1.84 | 0.89 | — | — | 0.89 | — | — | 8.24 | 28.45 | 0.76 | 0.38 | 0.38 | 1.30 | 1,911 | 32 | |||||||||||||||||||||||||||||||||||||||||||||||||||||
06-04-08(4)–10-31-08 | 12.99 | 0.02 | • | (5.72 | ) | (5.70 | ) | — | — | — | — | — | — | 7.29 | (43.88 | ) | 0.57 | 0.31 | 0.31 | 0.48 | 140 | 55 | ||||||||||||||||||||||||||||||||||||||||||||||||||
Class R | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
10-31-11 | 9.22 | 0.05 | (0.68 | ) | (0.63 | ) | 0.06 | — | 0.01 | 0.07 | — | — | 8.52 | (6.89 | ) | 0.93 | 0.75 | 0.75 | 0.58 | 137 | 112 | |||||||||||||||||||||||||||||||||||||||||||||||||||
10-31-10 | 8.18 | 0.04 | • | 1.05 | 1.09 | 0.04 | — | 0.01 | 0.05 | — | — | 9.22 | 13.40 | 0.88 | 0.64 | 0.64 | 0.47 | 173 | 49 | |||||||||||||||||||||||||||||||||||||||||||||||||||||
10-31-09 | 7.22 | 0.20 | 1.60 | 1.80 | 0.84 | — | — | 0.84 | — | — | 8.18 | 28.13 | 1.01 | 0.63 | 0.63 | 2.94 | 198 | 32 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
10-31-08 | 14.82 | 0.15 | (7.44 | ) | (7.29 | ) | 0.22 | 0.09 | — | 0.31 | — | — | 7.22 | (50.18 | ) | 0.82 | 0.56 | 0.56 | 1.26 | 183 | 55 | |||||||||||||||||||||||||||||||||||||||||||||||||||
12-12-06(4)–10-31-07 | 12.19 | (0.05 | )• | 2.76 | 2.71 | 0.08 | — | — | 0.08 | — | — | 14.82 | 22.33 | 0.80 | 0.46 | 0.46 | (0.46 | ) | 432 | 32 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Class W | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
10-31-11 | 9.30 | 0.12 | • | (0.72 | ) | (0.60 | ) | 0.11 | — | 0.01 | 0.12 | — | — | 8.58 | (6.55 | ) | 0.43 | 0.25 | 0.25 | 1.29 | 1,392 | 112 | ||||||||||||||||||||||||||||||||||||||||||||||||||
10-31-10 | 8.25 | 0.09 | • | 1.06 | 1.15 | 0.09 | — | 0.01 | 0.10 | — | — | 9.30 | 14.07 | 0.38 | 0.09 | 0.09 | 1.03 | 2,440 | 49 | |||||||||||||||||||||||||||||||||||||||||||||||||||||
10-31-09 | 7.29 | 0.21 | • | 1.65 | 1.86 | 0.90 | — | — | 0.90 | — | — | 8.25 | 28.84 | �� | 0.48 | 0.10 | 0.10 | 2.96 | 2,545 | 32 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
02-12-08(4)–10-31-08 | 12.17 | 0.06 | • | (4.94 | ) | (4.88 | ) | — | — | — | — | — | — | 7.29 | (40.10 | ) | 0.32 | 0.06 | 0.06 | 0.80 | 1,506 | 55 | ||||||||||||||||||||||||||||||||||||||||||||||||||
ING Emerging Countries Fund | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Class A | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
10-31-11 | 28.88 | 0.09 | (4.26 | ) | (4.17 | ) | 0.00 | * | — | — | 0.00 | * | — | — | 24.71 | (14.44 | ) | 1.95 | 1.81 | 1.81 | 0.31 | 61,675 | 91 | |||||||||||||||||||||||||||||||||||||||||||||||||
10-31-10 | 23.64 | (0.07 | ) | 5.31 | 5.24 | — | — | — | — | — | — | 28.88 | 22.17 | 2.15 | 1.91 | 1.91 | (0.25 | ) | 86,497 | 98 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
10-31-09 | 16.04 | 0.05 | • | 7.82 | 7.87 | 0.50 | — | — | 0.50 | 0.23 | — | 23.64 | 52.02 | (a) | 2.28 | 2.04 | 2.04 | 0.29 | 77,556 | 148 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
10-31-08 | 41.48 | 0.71 | (24.59 | ) | (23.88 | ) | 0.45 | 1.11 | — | 1.56 | — | — | 16.04 | (59.64 | ) | 2.10 | 1.96 | 1.94 | 1.86 | 60,207 | 177 | |||||||||||||||||||||||||||||||||||||||||||||||||||
10-31-07 | 29.62 | 0.47 | 11.82 | 12.29 | 0.43 | — | — | 0.43 | — | — | 41.48 | 41.93 | 1.99 | 1.89 | 1.86 | 1.42 | 197,307 | 51 |
Income (loss) from investment operations | | Less distributions | | Ratios to average net assets | Supplemental data | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Net asset value, beginning of year or period | | Net investment income (loss) | | Net realized and unrealized gain (loss) | | Total from investment operations | | From net investment income | | From net realized gains | | From return of capital | | Total distributions | | Payments from Distribution settlement/ affiliate | | Redemption fees applied to capital | | Net asset value, end of year or period | | Total Return (1) | | Expenses before reductions/ additions (2) | | Expenses net of fee waivers and/or recoupments, if any (2)(3) | | Expenses net of all reductions/ additions (2)(3) | | Net investment income (loss) (2)(3) | | Net assets, end of year or period | | Portfolio turnover rate | ||||||||||||||||||||||||||||||||||||||
Year or period ended | ($) | | ($) | | ($) | | ($) | | ($) | | ($) | | ($) | | ($) | | ($) | | ($) | | ($) | | (%) | | (%) | | (%) | | (%) | | (%) | | ($000’s) | | (%) | |||||||||||||||||||||||||||||||||||||
ING Emerging Countries Fund (continued) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Class B | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
10-31-11 | 28.43 | (0.15 | )• | (4.13 | ) | (4.28 | ) | 0.00 | * | — | — | 0.00 | * | — | — | 24.15 | (15.05 | ) | 2.60 | 2.56 | 2.56 | (0.54 | ) | 1,900 | 91 | |||||||||||||||||||||||||||||||||||||||||||||||
10-31-10 | 23.45 | (0.26 | )• | 5.24 | 4.98 | — | — | — | — | — | — | 28.43 | 21.24 | 2.80 | 2.66 | 2.66 | (1.03 | ) | 3,901 | 98 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
10-31-09 | 15.73 | (0.08 | )• | 7.74 | 7.66 | 0.17 | — | — | 0.17 | 0.23 | — | 23.45 | 50.68 | (a) | 2.93 | 2.79 | 2.79 | (0.44 | ) | 4,973 | 148 | |||||||||||||||||||||||||||||||||||||||||||||||||||
10-31-08 | 40.67 | 0.36 | • | (24.05 | ) | (23.69 | ) | 0.14 | 1.11 | — | 1.25 | — | — | 15.73 | (59.94 | ) | 2.75 | 2.71 | 2.69 | 1.10 | 4,312 | 177 | ||||||||||||||||||||||||||||||||||||||||||||||||||
10-31-07 | 29.04 | 0.24 | • | 11.57 | 11.81 | 0.18 | — | — | 0.18 | — | — | 40.67 | 40.85 | 2.64 | 2.64 | 2.61 | 0.67 | 16,648 | 51 | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Class C | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
10-31-11 | 26.69 | (0.13 | ) | (3.89 | ) | (4.02 | ) | 0.00 | * | — | — | 0.00 | * | — | — | 22.67 | (15.06 | ) | 2.60 | 2.56 | 2.56 | (0.46 | ) | 10,669 | 91 | |||||||||||||||||||||||||||||||||||||||||||||||
10-31-10 | 22.01 | (0.24 | )• | 4.92 | 4.68 | — | — | — | — | — | — | 26.69 | 21.26 | 2.80 | 2.66 | 2.66 | (1.00 | ) | 15,873 | 98 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
10-31-09 | 14.82 | (0.07 | )• | 7.26 | 7.19 | 0.22 | — | — | 0.22 | 0.22 | — | 22.01 | 50.69 | (a) | 2.93 | 2.79 | 2.79 | (0.42 | ) | 16,868 | 148 | |||||||||||||||||||||||||||||||||||||||||||||||||||
10-31-08 | 38.45 | 0.34 | • | (22.65 | ) | (22.31 | ) | 0.21 | 1.11 | — | 1.32 | — | — | 14.82 | (59.92 | ) | 2.75 | 2.71 | 2.69 | 1.11 | 14,586 | 177 | ||||||||||||||||||||||||||||||||||||||||||||||||||
10-31-07 | 27.53 | 0.20 | 10.97 | 11.17 | 0.25 | — | — | 0.25 | — | — | 38.45 | 40.82 | 2.64 | 2.64 | 2.61 | 0.65 | 53,885 | 51 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
Class I | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
10-31-11 | 29.03 | 0.23 | • | (4.30 | ) | (4.07 | ) | 0.04 | — | — | 0.04 | — | — | 24.92 | (14.03 | ) | 1.44 | 1.40 | 1.40 | 0.80 | 8,104 | 91 | ||||||||||||||||||||||||||||||||||||||||||||||||||
10-31-10 | 23.66 | 0.06 | 5.31 | 5.37 | — | — | — | — | — | — | 29.03 | 22.70 | 1.61 | 1.47 | 1.47 | 0.28 | 72,072 | 98 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
10-31-09 | 16.11 | 0.13 | • | 7.82 | 7.95 | 0.63 | — | — | 0.63 | 0.23 | — | 23.66 | 52.74 | (a) | 1.74 | 1.60 | 1.60 | 0.71 | 30,758 | 148 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
10-31-08 | 41.63 | 0.56 | • | (24.40 | ) | (23.84 | ) | 0.57 | 1.11 | — | 1.68 | — | — | 16.11 | (59.48 | ) | 1.67 | 1.63 | 1.61 | 1.79 | 18,429 | 177 | ||||||||||||||||||||||||||||||||||||||||||||||||||
10-31-07 | 29.72 | 0.55 | 11.90 | 12.45 | 0.54 | — | — | 0.54 | — | — | 41.63 | 42.41 | 1.56 | 1.56 | 1.53 | 1.71 | 41,551 | 51 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
Class W | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
10-31-11 | 30.36 | 0.14 | • | (4.45 | ) | (4.31 | ) | 0.03 | — | — | 0.03 | — | — | 26.02 | (14.21 | ) | 1.60 | 1.56 | 1.56 | 0.48 | 3,361 | 91 | ||||||||||||||||||||||||||||||||||||||||||||||||||
10-31-10 | 24.77 | (0.07 | ) | 5.66 | 5.59 | — | — | — | — | — | — | 30.36 | 22.57 | 1.80 | 1.66 | 1.66 | (0.33 | ) | 6,398 | 98 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
10-31-09 | 16.85 | 0.01 | • | 8.31 | 8.32 | 0.64 | — | — | 0.64 | 0.24 | — | 24.77 | 52.70 | (a) | 1.74 | 1.60 | 1.60 | 0.04 | 93 | 148 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
02-12-08(4)–10-31-08 | 36.18 | 0.54 | • | (19.86 | ) | (19.32 | ) | — | 0.01 | — | 0.01 | �� | — | — | 16.85 | (53.42 | ) | 1.67 | 1.63 | 1.61 | 2.48 | 36 | 177 | |||||||||||||||||||||||||||||||||||||||||||||||||
ING Emerging Markets Equity Fund | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Class A | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
10-11-11(4)–10-31-11 | 10.00 | (0.00 | )* | 0.74 | 0.74 | — | — | — | — | — | — | 10.74 | 7.40 | 1.77 | 1.50 | 1.50 | (0.99 | ) | 21 | 1 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Class C | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
10-11-11(4)–10-31-11 | 10.00 | (0.00 | )* | 0.73 | 0.73 | — | — | — | — | — | — | 10.73 | 7.30 | 2.52 | 2.25 | 2.25 | (0.28 | ) | 3 | 1 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Class I | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
10-11-11(4)–10-31-11 | 10.00 | 0.00 | * | 0.74 | 0.74 | — | — | — | — | — | — | 10.74 | 7.40 | 1.52 | 1.25 | 1.25 | 0.62 | 90,224 | 1 | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Class R | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
10-11-11(4)–10-31-11 | 10.00 | 0.00 | * | 0.74 | 0.74 | — | — | — | — | — | — | 10.74 | 7.40 | 2.02 | 1.75 | 1.75 | 0.23 | 3 | 1 | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Class W | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
10-11-11(4)–10-31-11 | 10.00 | 0.00 | * | 0.74 | 0.74 | — | — | — | — | — | — | 10.74 | 7.40 | 1.52 | 1.25 | 1.25 | 0.69 | 3 | 1 | |||||||||||||||||||||||||||||||||||||||||||||||||||||
ING Global Bond Fund | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Class A | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
10-31-11 | 12.32 | 0.46 | • | (0.32 | ) | 0.14 | 0.59 | 0.11 | — | 0.70 | — | — | 11.76 | 1.32 | 0.96 | † | 0.90 | † | 0.90 | † | 3.88 | † | 266,155 | 440 | ||||||||||||||||||||||||||||||||||||||||||||||||
10-31-10 | 12.25 | 0.53 | • | 0.30 | 0.83 | 0.71 | 0.05 | — | 0.76 | — | — | 12.32 | 7.14 | 1.00 | † | 0.90 | † | 0.90 | † | 4.43 | † | 192,384 | 440 | |||||||||||||||||||||||||||||||||||||||||||||||||
10-31-09 | 10.19 | 0.32 | 2.13 | 2.45 | 0.15 | 0.24 | — | 0.39 | — | — | 12.25 | 24.43 | 1.06 | † | 0.91 | † | 0.91 | † | 3.30 | † | 103,255 | 396 | ||||||||||||||||||||||||||||||||||||||||||||||||||
10-31-08 | 10.59 | 0.27 | • | 0.07 | 0.34 | 0.62 | 0.12 | — | 0.74 | — | — | 10.19 | 3.04 | 1.05 | † | 0.93 | † | 0.93 | † | 2.53 | † | 79,451 | 830 | |||||||||||||||||||||||||||||||||||||||||||||||||
10-31-07 | 10.25 | 0.31 | • | 0.64 | 0.95 | 0.43 | 0.18 | — | 0.61 | — | — | 10.59 | 9.61 | 1.46 | 0.90 | 0.90 | 3.08 | 28,887 | 858 | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Class B | �� | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
10-31-11 | 12.21 | 0.42 | (0.36 | ) | 0.06 | 0.50 | 0.11 | — | 0.61 | — | — | 11.66 | 0.65 | 1.71 | † | 1.65 | † | 1.65 | † | 3.33 | † | 2,086 | 440 | |||||||||||||||||||||||||||||||||||||||||||||||||
10-31-10 | 12.16 | 0.46 | 0.27 | 0.73 | 0.63 | 0.05 | — | 0.68 | — | — | 12.21 | 6.22 | 1.75 | † | 1.65 | † | 1.65 | † | 3.79 | † | 4,125 | 440 | ||||||||||||||||||||||||||||||||||||||||||||||||||
10-31-09 | 10.16 | 0.29 | 2.07 | 2.36 | 0.12 | 0.24 | — | 0.36 | — | — | 12.16 | 23.56 | 1.81 | † | 1.66 | † | 1.66 | † | 2.59 | † | 5,135 | 396 | ||||||||||||||||||||||||||||||||||||||||||||||||||
10-31-08 | 10.55 | 0.18 | • | 0.08 | 0.26 | 0.53 | 0.12 | — | 0.65 | — | — | 10.16 | 2.26 | 1.80 | † | 1.68 | † | 1.68 | † | 1.71 | † | 4,085 | 830 | |||||||||||||||||||||||||||||||||||||||||||||||||
10-31-07 | 10.24 | 0.25 | • | 0.62 | 0.87 | 0.38 | 0.18 | — | 0.56 | — | — | 10.55 | 8.74 | 2.21 | 1.65 | 1.65 | 2.44 | 342 | 858 |
Income (loss) from investment operations | | Less distributions | | Ratios to average net assets | Supplemental data | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Net asset value, beginning of year or period | | Net investment income (loss) | | Net realized and unrealized gain (loss) | | Total from investment operations | | From net investment income | | From net realized gains | | From return of capital | | Total distributions | | Payments from Distribution settlement/ affiliate | | Redemption fees applied to capital | | Net asset value, end of year or period | | Total Return (1) | | Expenses before reductions/ additions (2) | | Expenses net of fee waivers and/or recoupments, if any (2)(3) | | Expenses net of all reductions/ additions (2)(3) | | Net investment income (loss) (2)(3) | | Net assets, end of year or period | | Portfolio turnover rate | ||||||||||||||||||||||||||||||||||||||
Year or period ended | ($) | | ($) | | ($) | | ($) | | ($) | | ($) | | ($) | | ($) | | ($) | | ($) | | ($) | | (%) | | (%) | | (%) | | (%) | | (%) | | ($000’s) | | (%) | |||||||||||||||||||||||||||||||||||||
ING Global Bond Fund (continued) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Class C | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
10-31-11 | 12.25 | 0.38 | (0.31 | ) | 0.07 | 0.51 | 0.11 | — | 0.62 | — | — | 11.70 | 0.65 | 1.71 | † | 1.65 | † | 1.65 | † | 3.25 | † | 89,510 | 440 | |||||||||||||||||||||||||||||||||||||||||||||||||
10-31-10 | 12.20 | 0.43 | • | 0.30 | 0.73 | 0.63 | 0.05 | — | 0.68 | — | — | 12.25 | 6.23 | 1.75 | † | 1.65 | † | 1.65 | † | 3.65 | † | 90,458 | 440 | |||||||||||||||||||||||||||||||||||||||||||||||||
10-31-09 | 10.20 | 0.28 | • | 2.08 | 2.36 | 0.12 | 0.24 | — | 0.36 | — | — | 12.20 | 23.48 | 1.81 | † | 1.66 | † | 1.66 | † | 2.54 | † | 45,773 | 396 | |||||||||||||||||||||||||||||||||||||||||||||||||
10-31-08 | 10.59 | 0.18 | • | 0.09 | 0.27 | 0.54 | 0.12 | — | 0.66 | — | — | 10.20 | 2.31 | 1.80 | † | 1.68 | † | 1.68 | † | 1.71 | † | 29,009 | 830 | |||||||||||||||||||||||||||||||||||||||||||||||||
10-31-07 | 10.24 | 0.24 | • | 0.64 | 0.88 | 0.35 | 0.18 | — | 0.53 | — | — | 10.59 | 8.90 | 2.21 | 1.65 | 1.65 | 2.33 | 1,627 | 858 | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Class I | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
10-31-11 | 12.28 | 0.51 | • | (0.32 | ) | 0.19 | 0.63 | 0.11 | — | 0.74 | — | — | 11.73 | 1.75 | 0.62 | † | 0.56 | † | 0.56 | † | 4.34 | † | 251,112 | 440 | ||||||||||||||||||||||||||||||||||||||||||||||||
10-31-10 | 12.22 | 0.56 | • | 0.31 | 0.87 | 0.76 | 0.05 | — | 0.81 | — | — | 12.28 | 7.44 | 0.65 | † | 0.55 | † | 0.55 | † | 4.73 | † | 222,123 | 440 | |||||||||||||||||||||||||||||||||||||||||||||||||
10-31-09 | 10.21 | 0.45 | • | 2.04 | 2.49 | 0.24 | 0.24 | — | 0.48 | — | — | 12.22 | 24.94 | 0.71 | † | 0.56 | † | 0.56 | † | 3.89 | † | 136,178 | 396 | |||||||||||||||||||||||||||||||||||||||||||||||||
10-31-08 | 10.58 | 0.28 | • | 0.14 | 0.42 | 0.67 | 0.12 | — | 0.79 | — | — | 10.21 | 3.78 | 0.74 | † | 0.62 | † | 0.62 | † | 2.69 | † | 503 | 830 | |||||||||||||||||||||||||||||||||||||||||||||||||
10-31-07 | 10.25 | 0.35 | • | 0.63 | 0.98 | 0.47 | 0.18 | — | 0.65 | — | — | 10.58 | 9.88 | 1.00 | 0.61 | 0.61 | 3.47 | 1 | 858 | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Class O | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
10-31-11 | 12.12 | 0.46 | • | (0.31 | ) | 0.15 | 0.59 | 0.11 | — | 0.70 | — | — | 11.57 | 1.43 | 0.96 | † | 0.90 | † | 0.90 | † | 3.98 | † | 3,985 | 440 | ||||||||||||||||||||||||||||||||||||||||||||||||
10-31-10 | 12.06 | 0.53 | • | 0.29 | 0.82 | 0.71 | 0.05 | — | 0.76 | — | — | 12.12 | 7.17 | 1.00 | † | 0.90 | † | 0.90 | † | 4.53 | † | 3,578 | 440 | |||||||||||||||||||||||||||||||||||||||||||||||||
10-31-09 | 10.15 | 0.37 | • | 2.04 | 2.41 | 0.26 | 0.24 | — | 0.50 | — | — | 12.06 | 24.26 | 1.06 | † | 0.91 | † | 0.91 | † | 3.30 | † | 3,126 | 396 | |||||||||||||||||||||||||||||||||||||||||||||||||
06-04-08(4)–10-31-08 | 10.65 | 0.10 | • | (0.49 | ) | (0.39 | ) | 0.11 | — | — | 0.11 | — | — | 10.15 | (3.70 | ) | 1.05 | † | 0.93 | † | 0.93 | † | 2.47 | † | 222 | 830 | ||||||||||||||||||||||||||||||||||||||||||||||
Class R | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
08-05-11(4)–10-31-11 | 12.06 | 0.12 | • | (0.31 | ) | (0.19 | ) | 0.11 | 0.01 | — | 0.12 | — | — | 11.75 | (1.59 | ) | 1.21 | † | 1.15 | † | 1.15 | † | 4.22 | † | 3 | 440 | ||||||||||||||||||||||||||||||||||||||||||||||
Class W | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
10-31-11 | 12.12 | 0.48 | (0.31 | ) | 0.17 | 0.62 | 0.11 | — | 0.73 | — | — | 11.56 | 1.60 | 0.71 | † | 0.65 | † | 0.65 | † | 4.07 | † | 21,934 | 440 | |||||||||||||||||||||||||||||||||||||||||||||||||
10-31-10 | 12.06 | 0.52 | • | 0.34 | 0.86 | 0.75 | 0.05 | — | 0.80 | — | — | 12.12 | 7.45 | 0.75 | † | 0.65 | † | 0.65 | † | 4.44 | † | 14,142 | 440 | |||||||||||||||||||||||||||||||||||||||||||||||||
06-01-09(4)–10-31-09 | 11.22 | 0.14 | • | 1.03 | 1.17 | 0.33 | — | — | 0.33 | — | — | 12.06 | 10.54 | 0.71 | † | 0.56 | † | 0.56 | † | 2.85 | † | 1,533 | 396 | |||||||||||||||||||||||||||||||||||||||||||||||||
ING Global Equity Dividend Fund | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Class A | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
10-31-11 | 10.31 | 0.28 | • | (0.29 | ) | (0.01 | ) | 0.25 | — | — | 0.25 | — | — | 10.05 | (0.16 | ) | 1.42 | 1.39 | 1.39 | 2.67 | 33,494 | 83 | ||||||||||||||||||||||||||||||||||||||||||||||||||
10-31-10 | 9.41 | 0.26 | • | 0.89 | 1.15 | 0.25 | — | — | 0.25 | — | — | 10.31 | 12.46 | 1.38 | 1.40 | 1.40 | 2.65 | 42,502 | 58 | |||||||||||||||||||||||||||||||||||||||||||||||||||||
10-31-09 | 8.77 | 0.26 | • | 0.62 | 0.88 | 0.22 | — | 0.02 | 0.24 | — | — | 9.41 | 10.41 | 1.54 | 1.40 | 1.40 | 3.24 | 46,871 | 93 | |||||||||||||||||||||||||||||||||||||||||||||||||||||
10-31-08 | 16.84 | 0.56 | (6.84 | ) | (6.28 | ) | 0.54 | 1.20 | 0.05 | 1.79 | — | — | 8.77 | (40.84 | ) | 1.42 | 1.41 | 1.41 | 3.85 | 63,134 | 46 | |||||||||||||||||||||||||||||||||||||||||||||||||||
10-31-07 | 15.76 | 0.54 | • | 1.84 | 2.38 | 0.55 | 0.75 | — | 1.30 | — | — | 16.84 | 15.80 | 1.26 | 1.26 | 1.26 | 3.31 | 182,669 | 36 | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Class B | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
10-31-11 | 10.28 | 0.20 | • | (0.29 | ) | (0.09 | ) | 0.16 | — | — | 0.16 | — | — | 10.03 | (0.86 | ) | 2.17 | 2.14 | 2.14 | 1.87 | 6,108 | 83 | ||||||||||||||||||||||||||||||||||||||||||||||||||
10-31-10 | 9.38 | 0.19 | • | 0.88 | 1.07 | 0.17 | — | — | 0.17 | — | — | 10.28 | 11.62 | 2.13 | 2.15 | 2.15 | 1.91 | 11,212 | 58 | |||||||||||||||||||||||||||||||||||||||||||||||||||||
10-31-09 | 8.74 | 0.21 | 0.61 | 0.82 | 0.16 | — | 0.02 | 0.18 | — | — | 9.38 | 9.60 | 2.29 | 2.15 | 2.15 | 2.48 | 16,147 | 93 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
10-31-08 | 16.79 | 0.46 | (6.82 | ) | (6.36 | ) | 0.44 | 1.20 | 0.05 | 1.69 | — | — | 8.74 | (41.32 | ) | 2.17 | 2.16 | 2.16 | 3.11 | 21,311 | 46 | |||||||||||||||||||||||||||||||||||||||||||||||||||
10-31-07 | 15.72 | 0.39 | 1.86 | 2.25 | 0.43 | 0.75 | — | 1.18 | — | — | 16.79 | 14.94 | 2.01 | 2.01 | 2.01 | 2.53 | 58,093 | 36 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
Class C | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
10-31-11 | 10.26 | 0.20 | • | (0.29 | ) | (0.09 | ) | 0.17 | — | — | 0.17 | — | — | 10.00 | (0.91 | ) | 2.17 | 2.14 | 2.14 | 1.94 | 21,985 | 83 | ||||||||||||||||||||||||||||||||||||||||||||||||||
10-31-10 | 9.36 | 0.19 | • | 0.89 | 1.08 | 0.18 | — | — | 0.18 | — | — | 10.26 | 11.66 | 2.13 | 2.15 | 2.15 | 1.92 | 28,635 | 58 | |||||||||||||||||||||||||||||||||||||||||||||||||||||
10-31-09 | 8.72 | 0.21 | 0.61 | 0.82 | 0.16 | — | 0.02 | 0.18 | — | — | 9.36 | 9.63 | 2.29 | 2.15 | 2.15 | 2.48 | 37,687 | 93 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
10-31-08 | 16.75 | 0.44 | (6.78 | ) | (6.34 | ) | 0.44 | 1.20 | 0.05 | 1.69 | — | — | 8.72 | (41.29 | ) | 2.17 | 2.16 | 2.16 | 3.13 | 48,567 | 46 | |||||||||||||||||||||||||||||||||||||||||||||||||||
10-31-07 | 15.69 | 0.39 | 1.86 | 2.25 | 0.44 | 0.75 | — | 1.19 | — | — | 16.75 | 14.94 | 2.01 | 2.01 | 2.01 | 2.54 | 124,765 | 36 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
Class I | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
10-31-11 | 10.32 | 0.34 | • | (0.31 | ) | 0.03 | 0.29 | — | — | 0.29 | — | — | 10.06 | 0.21 | 1.03 | 1.00 | 1.00 | 3.21 | 3,261 | 83 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
10-31-10 | 9.42 | 0.27 | • | 0.92 | 1.19 | 0.29 | — | — | 0.29 | — | — | 10.32 | 12.90 | 0.99 | 1.01 | 1.01 | 2.80 | 12,390 | 58 | |||||||||||||||||||||||||||||||||||||||||||||||||||||
10-31-09 | 8.78 | 0.29 | • | 0.63 | 0.92 | 0.26 | — | 0.02 | 0.28 | — | — | 9.42 | 10.92 | 1.07 | 0.93 | 0.93 | 3.61 | 1,824 | 93 | |||||||||||||||||||||||||||||||||||||||||||||||||||||
10-31-08 | 16.83 | 0.47 | (6.68 | ) | (6.21 | ) | 0.59 | 1.20 | 0.05 | 1.84 | — | — | 8.78 | (40.49 | ) | 1.07 | 1.06 | 1.06 | 3.16 | 1,207 | 46 | |||||||||||||||||||||||||||||||||||||||||||||||||||
08-01-07(4)–10-31-07 | 15.81 | 0.12 | • | 1.03 | 1.15 | 0.13 | — | — | 0.13 | — | — | 16.83 | 7.26 | 0.90 | 0.90 | 0.90 | 2.98 | 1 | 36 |
Income (loss) from investment operations | | Less distributions | | Ratios to average net assets | Supplemental data | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Net asset value, beginning of year or period | | Net investment income (loss) | | Net realized and unrealized gain (loss) | | Total from investment operations | | From net investment income | | From net realized gains | | From return of capital | | Total distributions | | Payments from Distribution settlement/ affiliate | | Redemption fees applied to capital | | Net asset value, end of year or period | | Total Return (1) | | Expenses before reductions/ additions (2) | | Expenses net of fee waivers and/or recoupments, if any (2)(3) | | Expenses net of all reductions/ additions (2)(3) | | Net investment income (loss) (2)(3) | | Net assets, end of year or period | | Portfolio turnover rate | ||||||||||||||||||||||||||||||||||||||
Year or period ended | ($) | | ($) | | ($) | | ($) | | ($) | | ($) | | ($) | | ($) | | ($) | | ($) | | ($) | | (%) | | (%) | | (%) | | (%) | | (%) | | ($000’s) | | (%) | |||||||||||||||||||||||||||||||||||||
ING Global Equity Dividend Fund (continued) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Class O | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
10-31-11 | 10.29 | 0.28 | (0.29 | ) | (0.01 | ) | 0.25 | — | — | 0.25 | — | — | 10.03 | (0.16 | ) | 1.42 | 1.39 | 1.39 | 2.68 | 13,358 | 83 | |||||||||||||||||||||||||||||||||||||||||||||||||||
10-31-10 | 9.40 | 0.26 | • | 0.89 | 1.15 | 0.26 | — | — | 0.26 | — | — | 10.29 | 12.41 | 1.38 | 1.40 | 1.40 | 2.65 | 14,721 | 58 | |||||||||||||||||||||||||||||||||||||||||||||||||||||
10-31-09 | 8.76 | 0.26 | • | 0.62 | 0.88 | 0.22 | — | 0.02 | 0.24 | — | — | 9.40 | 10.41 | 1.54 | 1.40 | 1.40 | 3.18 | 14,920 | 93 | |||||||||||||||||||||||||||||||||||||||||||||||||||||
10-31-08 | 16.83 | 0.51 | • | (6.78 | ) | (6.27 | ) | 0.55 | 1.20 | 0.05 | 1.80 | — | — | 8.76 | (40.83 | ) | 1.42 | 1.41 | 1.41 | 3.95 | 14,695 | 46 | ||||||||||||||||||||||||||||||||||||||||||||||||||
11-15-06(4)–10-31-07 | 15.86 | 0.55 | • | 1.74 | 2.29 | 0.57 | 0.75 | — | 1.32 | — | — | 16.83 | 15.12 | 1.26 | 1.26 | 1.26 | 3.46 | 23,737 | 36 | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Class W | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
10-31-11 | 11.26 | 0.23 | • | (0.23 | ) | 0.00 | * | 0.25 | — | — | 0.25 | — | — | 11.01 | 0.00 | 1.17 | 1.14 | 1.14 | 1.98 | 1,792 | 83 | |||||||||||||||||||||||||||||||||||||||||||||||||||
10-31-10 | 10.25 | 0.31 | • | 0.98 | 1.29 | 0.28 | — | — | 0.28 | — | — | 11.26 | 12.79 | 1.13 | 1.15 | 1.15 | 2.87 | 37,819 | 58 | |||||||||||||||||||||||||||||||||||||||||||||||||||||
10-31-09 | 9.53 | 0.26 | • | 0.74 | 1.00 | 0.26 | — | 0.02 | 0.28 | — | — | 10.25 | 10.92 | 1.07 | 0.93 | 0.93 | 2.68 | 21,321 | 93 | |||||||||||||||||||||||||||||||||||||||||||||||||||||
02-12-08(4)–10-31-08 | 14.51 | 0.35 | (4.83 | ) | (4.48 | ) | 0.46 | — | 0.04 | 0.50 | — | — | 9.53 | (31.78 | ) | 1.07 | 1.06 | 1.06 | 3.38 | 70 | 46 | |||||||||||||||||||||||||||||||||||||||||||||||||||
ING Global Natural Resources Fund | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Class A | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
10-31-11 | 8.81 | (0.00 | )* | 0.58 | 0.58 | 0.00 | * | — | — | 0.00 | * | — | — | 9.39 | 6.63 | 1.46 | † | 1.46 | † | 1.46 | † | (0.02 | )† | 106,363 | 73 | |||||||||||||||||||||||||||||||||||||||||||||||
10-31-10 | 7.82 | 0.01 | 1.00 | 1.01 | 0.02 | — | — | 0.02 | — | — | 8.81 | 12.99 | 1.53 | † | 1.53 | † | 1.53 | † | 0.11 | † | 101,577 | 57 | ||||||||||||||||||||||||||||||||||||||||||||||||||
10-31-09 | 6.74 | 0.03 | 1.50 | 1.53 | 0.02 | 0.43 | — | 0.45 | — | — | 7.82 | 24.38 | 1.64 | † | 1.64 | † | 1.64 | † | 0.45 | † | 99,674 | 81 | ||||||||||||||||||||||||||||||||||||||||||||||||||
10-31-08 | 14.18 | 0.05 | (4.92 | ) | (4.87 | ) | 0.11 | 2.46 | — | 2.57 | — | — | 6.74 | (41.12 | ) | 1.46 | † | 1.46 | † | 1.46 | † | 0.37 | † | 83,713 | 116 | |||||||||||||||||||||||||||||||||||||||||||||||
10-31-07 | 10.46 | (0.03 | ) | 4.36 | 4.33 | 0.26 | 0.35 | — | 0.61 | — | — | 14.18 | 43.22 | 1.44 | † | 1.44 | † | 1.44 | † | (0.28 | )† | 157,367 | 121 | |||||||||||||||||||||||||||||||||||||||||||||||||
Class I | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
10-31-11 | 8.82 | 0.03 | 0.59 | 0.62 | 0.01 | — | — | 0.01 | — | — | 9.43 | 7.04 | 1.13 | † | 1.13 | † | 1.13 | † | 0.31 | † | 4,961 | 73 | ||||||||||||||||||||||||||||||||||||||||||||||||||
10-31-10 | 7.83 | 0.04 | • | 1.01 | 1.05 | 0.06 | — | — | 0.06 | — | — | 8.82 | 13.43 | 1.11 | † | 1.11 | † | 1.11 | † | 0.52 | † | 2,977 | 57 | |||||||||||||||||||||||||||||||||||||||||||||||||
10-31-09 | 6.75 | 0.05 | • | 1.52 | 1.57 | 0.06 | 0.43 | — | 0.49 | — | — | 7.83 | 25.10 | 1.19 | † | 1.19 | † | 1.19 | † | 0.68 | † | 510 | 81 | |||||||||||||||||||||||||||||||||||||||||||||||||
10-31-08 | 14.19 | 0.12 | • | (4.95 | ) | (4.83 | ) | 0.15 | 2.46 | — | 2.61 | — | — | 6.75 | (40.87 | ) | 1.11 | † | 1.11 | † | 1.11 | † | 1.04 | † | 1 | 116 | ||||||||||||||||||||||||||||||||||||||||||||||
08-01-07(4)–10-31-07 | 12.07 | 0.00 | * | 2.12 | 2.12 | — | — | — | — | — | — | 14.19 | 17.56 | 1.08 | † | 1.08 | † | 1.08 | † | 0.09 | † | 2 | 121 | |||||||||||||||||||||||||||||||||||||||||||||||||
Class W | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
10-31-11 | 11.10 | 0.03 | 0.74 | 0.77 | 0.01 | — | — | 0.01 | — | — | 11.86 | 6.91 | 1.21 | † | 1.21 | † | 1.21 | † | 0.20 | † | 1,741 | 73 | ||||||||||||||||||||||||||||||||||||||||||||||||||
10-31-10 | 9.86 | 0.05 | 1.24 | 1.29 | 0.05 | — | — | 0.05 | — | — | 11.10 | 13.17 | 1.28 | † | 1.28 | † | 1.28 | † | 0.36 | † | 378 | 57 | ||||||||||||||||||||||||||||||||||||||||||||||||||
10-31-09 | 8.39 | 0.05 | • | 1.91 | 1.96 | 0.06 | 0.43 | — | 0.49 | — | — | 9.86 | 24.84 | 1.19 | † | 1.19 | † | 1.19 | † | 0.64 | † | 186 | 81 | |||||||||||||||||||||||||||||||||||||||||||||||||
02-12-08(4)–10-31-08 | 12.84 | 0.03 | • | (4.48 | ) | (4.45 | ) | — | — | — | — | — | — | 8.39 | (34.66 | ) | 1.11 | † | 1.11 | † | 1.11 | † | 0.38 | † | 27 | 116 | ||||||||||||||||||||||||||||||||||||||||||||||
ING Global Opportunities Fund | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Class A | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
10-31-11 | 14.07 | 0.01 | (0.55 | ) | (0.54 | ) | 0.32 | — | — | 0.32 | — | — | 13.21 | (3.96 | ) | 1.72 | 1.51 | 1.51 | 0.13 | 30,587 | 67 | |||||||||||||||||||||||||||||||||||||||||||||||||||
10-31-10 | 12.85 | 0.05 | • | 1.17 | 1.22 | — | — | — | — | — | — | 14.07 | 9.49 | 1.84 | 1.63 | 1.63 | 0.39 | 55,541 | 156 | |||||||||||||||||||||||||||||||||||||||||||||||||||||
10-31-09 | 11.68 | 0.12 | • | 1.50 | 1.62 | 0.45 | — | — | 0.45 | — | — | 12.85 | 14.38 | 1.78 | † | 1.70 | † | 1.70 | † | 1.13 | † | 93,829 | 176 | |||||||||||||||||||||||||||||||||||||||||||||||||
10-31-08 | 23.54 | 0.18 | • | (10.65 | ) | (10.47 | ) | — | 1.39 | — | 1.39 | — | — | 11.68 | (47.01 | ) | 1.61 | † | 1.60 | † | 1.60 | † | 0.93 | † | 151,246 | 116 | ||||||||||||||||||||||||||||||||||||||||||||||
10-31-07 | 18.56 | 0.10 | 5.56 | 5.66 | — | 0.68 | — | 0.68 | — | — | 23.54 | 31.32 | 1.54 | 1.54 | 1.54 | 0.59 | 349,917 | 69 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
Class B | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
10-31-11 | 13.44 | (0.09 | )• | (0.54 | ) | (0.63 | ) | 0.19 | — | — | 0.19 | — | — | 12.62 | (4.78 | ) | 2.47 | 2.26 | 2.26 | (0.63 | ) | 4,793 | 67 | |||||||||||||||||||||||||||||||||||||||||||||||||
10-31-10 | 12.36 | (0.04 | ) | 1.12 | 1.08 | — | — | — | — | — | — | 13.44 | 8.74 | 2.59 | 2.38 | 2.38 | (0.35 | ) | 9,094 | 156 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
10-31-09 | 11.19 | 0.04 | • | 1.43 | 1.47 | 0.30 | — | — | 0.30 | — | — | 12.36 | 13.42 | 2.53 | † | 2.45 | † | 2.45 | † | 0.38 | † | 14,077 | 176 | |||||||||||||||||||||||||||||||||||||||||||||||||
10-31-08 | 22.78 | 0.02 | • | (10.22 | ) | (10.20 | ) | — | 1.39 | — | 1.39 | — | — | 11.19 | (47.42 | ) | 2.36 | † | 2.35 | † | 2.35 | † | 0.11 | † | 18,831 | 116 | ||||||||||||||||||||||||||||||||||||||||||||||
10-31-07 | 18.11 | (0.03 | ) | 5.38 | 5.35 | — | 0.68 | — | 0.68 | — | — | 22.78 | 30.35 | 2.29 | 2.29 | 2.29 | (0.16 | ) | 50,276 | 69 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Class C | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
10-31-11 | 13.44 | (0.09 | )• | (0.54 | ) | (0.63 | ) | 0.19 | — | — | 0.19 | — | — | 12.62 | (4.76 | ) | 2.47 | 2.26 | 2.26 | (0.63 | ) | 25,973 | 67 | |||||||||||||||||||||||||||||||||||||||||||||||||
10-31-10 | 12.36 | (0.04 | ) | 1.12 | 1.08 | — | — | — | — | — | — | 13.44 | 8.74 | 2.59 | 2.38 | 2.38 | (0.35 | ) | 49,256 | 156 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
10-31-09 | 11.21 | 0.04 | • | 1.43 | 1.47 | 0.32 | — | — | 0.32 | — | — | 12.36 | 13.43 | 2.53 | † | 2.45 | † | 2.45 | † | 0.38 | † | 76,677 | 176 | |||||||||||||||||||||||||||||||||||||||||||||||||
10-31-08 | 22.81 | 0.03 | • | (10.24 | ) | (10.21 | ) | — | 1.39 | — | 1.39 | — | — | 11.21 | (47.40 | ) | 2.36 | † | 2.35 | † | 2.35 | † | 0.14 | † | 102,274 | 116 | ||||||||||||||||||||||||||||||||||||||||||||||
10-31-07 | 18.14 | (0.03 | ) | 5.38 | 5.35 | — | 0.68 | — | 0.68 | — | — | 22.81 | 30.30 | 2.29 | 2.29 | 2.29 | (0.14 | ) | 232,439 | 69 |
Income (loss) from investment operations | | Less distributions | | Ratios to average net assets | Supplemental data | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Net asset value, beginning of year or period | | Net investment income (loss) | | Net realized and unrealized gain (loss) | | Total from investment operations | | From net investment income | | From net realized gains | | From return of capital | | Total distributions | | Payments from Distribution settlement/ affiliate | | Redemption fees applied to capital | | Net asset value, end of year or period | | Total Return (1) | | Expenses before reductions/ additions (2) | | Expenses net of fee waivers and/or recoupments, if any (2)(3) | | Expenses net of all reductions/ additions (2)(3) | | Net investment income (loss) (2)(3) | | Net assets, end of year or period | | Portfolio turnover rate | ||||||||||||||||||||||||||||||||||||||
Year or period ended | ($) | | ($) | | ($) | | ($) | | ($) | | ($) | | ($) | | ($) | | ($) | | ($) | | ($) | | (%) | | (%) | | (%) | | (%) | | (%) | | ($000’s) | | (%) | |||||||||||||||||||||||||||||||||||||
ING Global Opportunities Fund (continued) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Class I | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
10-31-11 | 14.38 | 0.09 | • | (0.58 | ) | (0.49 | ) | 0.39 | — | — | 0.39 | — | — | 13.50 | (3.55 | ) | 1.41 | 1.06 | 1.06 | 0.59 | 4,117 | 67 | ||||||||||||||||||||||||||||||||||||||||||||||||||
10-31-10 | 13.08 | 0.13 | • | 1.17 | 1.30 | — | — | — | — | — | — | 14.38 | 9.94 | 1.38 | 1.31 | 1.31 | 0.94 | 9,467 | 156 | |||||||||||||||||||||||||||||||||||||||||||||||||||||
10-31-09 | 11.92 | 0.16 | • | 1.54 | 1.70 | 0.54 | — | — | 0.54 | — | — | 13.08 | 14.82 | 1.33 | † | 1.31 | † | 1.31 | † | 1.44 | † | 65,256 | 176 | |||||||||||||||||||||||||||||||||||||||||||||||||
10-31-08 | 23.91 | 0.24 | • | (10.84 | ) | (10.60 | ) | — | 1.39 | — | 1.39 | — | — | 11.92 | (46.82 | ) | 1.28 | † | 1.27 | † | 1.27 | † | 1.26 | † | 68,020 | 116 | ||||||||||||||||||||||||||||||||||||||||||||||
10-31-07 | 18.78 | 0.16 | 5.65 | 5.81 | — | 0.68 | — | 0.68 | — | — | 23.91 | 31.76 | 1.21 | 1.21 | 1.21 | 0.94 | 108,732 | 69 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
Class W | �� | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
10-31-11 | 15.36 | 0.03 | • | (0.62 | ) | (0.59 | ) | 0.30 | — | — | 0.30 | — | — | 14.47 | (3.94 | ) | 1.47 | 1.26 | 1.26 | 0.20 | 94 | 67 | ||||||||||||||||||||||||||||||||||||||||||||||||||
10-31-10 | 13.98 | 0.10 | • | 1.28 | 1.38 | — | — | — | — | — | — | 15.36 | 9.87 | 1.59 | 1.38 | 1.38 | 0.68 | 1,486 | 156 | |||||||||||||||||||||||||||||||||||||||||||||||||||||
10-31-09 | 12.71 | 0.18 | • | 1.63 | 1.81 | 0.54 | — | — | 0.54 | — | — | 13.98 | 14.79 | 1.33 | † | 1.31 | † | 1.31 | † | 1.47 | † | 566 | 176 | |||||||||||||||||||||||||||||||||||||||||||||||||
02-12-08(4)–10-31-08 | 20.48 | 0.27 | • | (8.04 | ) | (7.77 | ) | — | — | — | — | — | — | 12.71 | (37.94 | ) | 1.28 | † | 1.27 | † | 1.27 | † | 2.03 | † | 296 | 116 | ||||||||||||||||||||||||||||||||||||||||||||||
ING Global Real Estate Fund | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Class A | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
10-31-11 | 16.25 | 0.23 | (0.15 | ) | 0.08 | 0.45 | — | 0.14 | 0.59 | — | — | 15.74 | 0.52 | 1.31 | † | 1.31 | † | 1.31 | † | 1.34 | † | 1,212,619 | 37 | |||||||||||||||||||||||||||||||||||||||||||||||||
10-31-10 | 14.26 | 0.23 | • | 2.55 | 2.78 | 0.79 | — | — | 0.79 | — | — | 16.25 | 20.20 | 1.39 | † | 1.39 | † | 1.39 | † | 1.58 | † | 1,179,941 | 53 | |||||||||||||||||||||||||||||||||||||||||||||||||
10-31-09 | 12.56 | 0.32 | • | 1.75 | 2.07 | 0.27 | 0.01 | 0.09 | 0.37 | — | — | 14.26 | 17.37 | 1.49 | † | 1.49 | † | 1.49 | † | 2.74 | † | 893,470 | 66 | |||||||||||||||||||||||||||||||||||||||||||||||||
10-31-08 | 24.19 | 0.33 | • | (11.19 | ) | (10.86 | ) | 0.73 | 0.04 | — | 0.77 | — | — | 12.56 | (46.00 | ) | 1.41 | † | 1.41 | † | 1.41 | † | 1.76 | † | 836,314 | 44 | ||||||||||||||||||||||||||||||||||||||||||||||
10-31-07 | 22.23 | 0.22 | • | 3.13 | 3.35 | 1.08 | 0.31 | — | 1.39 | — | — | 24.19 | 15.44 | 1.30 | 1.30 | 1.30 | 0.96 | 1,115,493 | 57 | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Class B | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
10-31-11 | 13.54 | 0.08 | • | (0.11 | ) | (0.03 | ) | 0.35 | — | 0.14 | 0.49 | — | — | 13.02 | (0.19 | ) | 2.06 | † | 2.06 | † | 2.06 | † | 0.57 | † | 14,716 | 37 | ||||||||||||||||||||||||||||||||||||||||||||||
10-31-10 | 12.01 | 0.11 | • | 2.13 | 2.24 | 0.71 | — | — | 0.71 | — | — | 13.54 | 19.33 | 2.14 | † | 2.14 | † | 2.14 | † | 0.88 | † | 20,350 | 53 | |||||||||||||||||||||||||||||||||||||||||||||||||
10-31-09 | 10.66 | 0.20 | • | 1.46 | 1.66 | 0.22 | 0.01 | 0.08 | 0.31 | — | — | 12.01 | 16.39 | 2.24 | † | 2.24 | † | 2.24 | † | 2.06 | † | 22,218 | 66 | |||||||||||||||||||||||||||||||||||||||||||||||||
10-31-08 | 20.67 | 0.16 | • | (9.52 | ) | (9.36 | ) | 0.61 | 0.04 | — | 0.65 | — | — | 10.66 | (46.40 | ) | 2.16 | † | 2.16 | † | 2.16 | † | 0.99 | † | 23,663 | 44 | ||||||||||||||||||||||||||||||||||||||||||||||
10-31-07 | 19.20 | 0.04 | • | 2.69 | 2.73 | 0.95 | 0.31 | — | 1.26 | — | — | 20.67 | 14.59 | 2.05 | 2.05 | 2.05 | 0.22 | 57,837 | 57 | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Class C | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
10-31-11 | 14.33 | 0.10 | (0.13 | ) | (0.03 | ) | 0.35 | — | 0.14 | 0.49 | — | — | 13.81 | (0.19 | ) | 2.06 | † | 2.06 | † | 2.06 | † | 0.58 | † | 207,588 | 37 | |||||||||||||||||||||||||||||||||||||||||||||||
10-31-10 | 12.67 | 0.11 | • | 2.26 | 2.37 | 0.71 | — | — | 0.71 | — | — | 14.33 | 19.33 | 2.14 | † | 2.14 | † | 2.14 | † | 0.83 | † | 201,027 | 53 | |||||||||||||||||||||||||||||||||||||||||||||||||
10-31-09 | 11.22 | 0.21 | • | 1.54 | 1.75 | 0.22 | 0.01 | 0.07 | 0.30 | — | — | 12.67 | 16.40 | 2.24 | † | 2.24 | † | 2.24 | † | 2.03 | † | 149,943 | 66 | |||||||||||||||||||||||||||||||||||||||||||||||||
10-31-08 | 21.70 | 0.16 | (9.99 | ) | (9.83 | ) | 0.61 | 0.04 | — | 0.65 | — | — | 11.22 | (46.38 | ) | 2.16 | † | 2.16 | † | 2.16 | † | 0.99 | † | 153,110 | 44 | |||||||||||||||||||||||||||||||||||||||||||||||
10-31-07 | 20.10 | 0.04 | • | 2.82 | 2.86 | 0.95 | 0.31 | — | 1.26 | — | — | 21.70 | 14.57 | 2.05 | 2.05 | 2.05 | 0.20 | 303,235 | 57 | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Class I | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
10-31-11 | 16.25 | 0.27 | • | (0.12 | ) | 0.15 | 0.51 | — | 0.14 | 0.65 | — | — | 15.75 | 0.92 | 0.99 | † | 0.99 | † | 0.99 | † | 1.65 | † | 1,709,220 | 37 | ||||||||||||||||||||||||||||||||||||||||||||||||
10-31-10 | 14.26 | 0.28 | • | 2.56 | 2.84 | 0.85 | — | — | 0.85 | — | — | 16.25 | 20.65 | 0.99 | † | 0.99 | † | 0.99 | † | 1.89 | † | 1,232,413 | 53 | |||||||||||||||||||||||||||||||||||||||||||||||||
10-31-09 | 12.57 | 0.35 | • | 1.76 | 2.11 | 0.30 | 0.01 | 0.11 | 0.42 | — | — | 14.26 | 17.76 | 1.12 | † | 1.12 | † | 1.12 | † | 2.96 | † | 457,742 | 66 | |||||||||||||||||||||||||||||||||||||||||||||||||
10-31-08 | 24.21 | 0.38 | • | (11.17 | ) | (10.79 | ) | 0.81 | 0.04 | — | 0.85 | — | — | 12.57 | (45.77 | ) | 1.01 | † | 1.01 | † | 1.01 | † | 2.12 | † | 225,881 | 44 | ||||||||||||||||||||||||||||||||||||||||||||||
10-31-07 | 22.23 | 0.28 | • | 3.16 | 3.44 | 1.15 | 0.31 | — | 1.46 | — | — | 24.21 | 15.88 | 0.95 | 0.95 | 0.95 | 1.24 | 76,869 | 57 | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Class O | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
10-31-11 | 16.25 | 0.20 | (0.12 | ) | 0.08 | 0.45 | — | 0.14 | 0.59 | — | — | 15.74 | 0.51 | 1.31 | † | 1.31 | † | 1.31 | † | 1.33 | † | 13,521 | 37 | |||||||||||||||||||||||||||||||||||||||||||||||||
10-31-10 | 14.26 | 0.24 | • | 2.54 | 2.78 | 0.79 | — | — | 0.79 | — | — | 16.25 | 20.19 | 1.39 | † | 1.39 | † | 1.39 | † | 1.61 | † | 14,861 | 53 | |||||||||||||||||||||||||||||||||||||||||||||||||
10-31-09 | 12.55 | 0.32 | • | 1.76 | 2.08 | 0.27 | 0.01 | 0.09 | 0.37 | — | — | 14.26 | 17.38 | 1.49 | † | 1.49 | † | 1.49 | † | 2.76 | † | 13,575 | 66 | |||||||||||||||||||||||||||||||||||||||||||||||||
10-31-08 | 24.19 | 0.33 | • | (11.19 | ) | (10.86 | ) | 0.74 | 0.04 | — | 0.78 | — | — | 12.55 | (46.03 | ) | 1.41 | † | 1.41 | † | 1.41 | † | 1.74 | † | 12,758 | 44 | ||||||||||||||||||||||||||||||||||||||||||||||
11-15-06(4)–10-31-07 | 22.20 | 0.20 | • | 3.20 | 3.40 | 1.10 | 0.31 | — | 1.41 | — | — | 24.19 | 15.68 | 1.30 | 1.30 | 1.30 | 0.90 | 26,137 | 57 | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Class R | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
08-05-11(4)–10-31-11 | 15.54 | (0.02 | )• | 0.31 | 0.29 | 0.05 | — | 0.05 | 0.10 | — | — | 15.73 | 1.98 | 1.56 | † | 1.56 | † | 1.56 | † | (0.56 | )† | 3 | 37 | |||||||||||||||||||||||||||||||||||||||||||||||||
Class W | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
10-31-11 | 16.28 | 0.26 | • | (0.14 | ) | 0.12 | 0.49 | — | 0.14 | 0.63 | — | — | 15.77 | 0.78 | 1.06 | † | 1.06 | † | 1.06 | † | 1.59 | † | 283,208 | 37 | ||||||||||||||||||||||||||||||||||||||||||||||||
10-31-10 | 14.28 | 0.27 | • | 2.56 | 2.83 | 0.83 | — | — | 0.83 | — | — | 16.28 | 20.52 | 1.14 | † | 1.14 | † | 1.14 | † | 1.81 | † | 248,192 | 53 | |||||||||||||||||||||||||||||||||||||||||||||||||
10-31-09 | 12.59 | 0.34 | • | 1.78 | 2.12 | 0.31 | 0.01 | 0.11 | 0.43 | — | — | 14.28 | 17.78 | 1.12 | † | 1.12 | † | 1.12 | † | 2.88 | † | 151,558 | 66 | |||||||||||||||||||||||||||||||||||||||||||||||||
02-12-08(4)–10-31-08 | 19.29 | 0.28 | (6.65 | ) | (6.37 | ) | 0.33 | — | — | 0.33 | — | — | 12.59 | (33.53 | ) | 1.01 | † | 1.01 | † | 1.01 | † | 1.95 | † | 50,233 | 44 |
Income (loss) from investment operations | | Less distributions | | Ratios to average net assets | Supplemental data | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Net asset value, beginning of year or period | | Net investment income (loss) | | Net realized and unrealized gain (loss) | | Total from investment operations | | From net investment income | | From net realized gains | | From return of capital | | Total distributions | | Payments from Distribution settlement/ affiliate | | Redemption fees applied to capital | | Net asset value, end of year or period | | Total Return (1) | | Expenses before reductions/ additions (2) | | Expenses net of fee waivers and/or recoupments, if any (2)(3) | | Expenses net of all reductions/ additions (2)(3) | | Net investment income (loss) (2)(3) | | Net assets, end of year or period | | Portfolio turnover rate | ||||||||||||||||||||||||||||||||||||||
Year or period ended | ($) | | ($) | | ($) | | ($) | | ($) | | ($) | | ($) | | ($) | | ($) | | ($) | | ($) | | (%) | | (%) | | (%) | | (%) | | (%) | | ($000’s) | | (%) | |||||||||||||||||||||||||||||||||||||
ING Global Value Choice Fund | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Class A | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
10-31-11 | 31.83 | 0.21 | 0.66 | 0.87 | 0.47 | — | — | 0.47 | — | — | 32.23 | 2.69 | 1.43 | † | 1.43 | † | 1.42 | † | 0.70 | † | 233,166 | 67 | ||||||||||||||||||||||||||||||||||||||||||||||||||
10-31-10 | 26.25 | 0.10 | 5.61 | 5.71 | 0.17 | — | — | 0.17 | 0.04 | — | 31.83 | 21.97 | (b) | 1.50 | 1.49 | 1.48 | 0.44 | 200,835 | 49 | |||||||||||||||||||||||||||||||||||||||||||||||||||||
10-31-09 | 16.84 | 0.12 | • | 9.29 | 9.41 | — | — | �� | — | — | — | — | 26.25 | 55.88 | 1.58 | † | 1.50 | † | 1.49 | † | 0.56 | † | 107,499 | 81 | ||||||||||||||||||||||||||||||||||||||||||||||||
10-31-08 | 28.40 | 0.11 | (11.51 | ) | (11.40 | ) | 0.16 | — | — | 0.16 | — | — | 16.84 | (40.34 | ) | 1.62 | † | 1.55 | † | 1.53 | † | 0.41 | † | 38,258 | 73 | |||||||||||||||||||||||||||||||||||||||||||||||
10-31-07 | 21.72 | 0.01 | 6.67 | 6.68 | — | — | — | — | — | — | 28.40 | 30.76 | 1.77 | 1.82 | 1.81 | 0.04 | 58,600 | 66 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
Class B | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
10-31-11 | 33.82 | (0.04 | )• | 0.70 | 0.66 | 0.20 | — | — | 0.20 | — | — | 34.28 | 1.94 | 2.18 | † | 2.18 | † | 2.17 | † | (0.12 | )† | 5,771 | 67 | |||||||||||||||||||||||||||||||||||||||||||||||||
10-31-10 | 28.00 | (0.11 | ) | 5.96 | 5.85 | 0.07 | — | — | 0.07 | 0.04 | — | 33.82 | 21.07 | (b) | 2.25 | 2.24 | 2.23 | (0.34 | ) | 7,557 | 49 | |||||||||||||||||||||||||||||||||||||||||||||||||||
10-31-09 | 18.10 | (0.05 | ) | 9.95 | 9.90 | — | — | — | — | — | — | 28.00 | 54.70 | 2.33 | † | 2.25 | † | 2.24 | † | (0.19 | )† | 7,105 | 81 | |||||||||||||||||||||||||||||||||||||||||||||||||
10-31-08 | 30.58 | (0.11 | )• | (12.37 | ) | (12.48 | ) | — | — | — | — | — | — | 18.10 | (40.81 | ) | 2.37 | † | 2.30 | † | 2.28 | † | (0.39 | )† | 6,722 | 73 | ||||||||||||||||||||||||||||||||||||||||||||||
10-31-07 | 23.54 | (0.17 | )• | 7.21 | 7.04 | — | — | — | — | — | — | 30.58 | 29.91 | 2.42 | 2.47 | 2.46 | (0.62 | ) | 22,049 | 66 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Class C | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
10-31-11 | 30.03 | (0.01 | )• | 0.60 | 0.59 | 0.35 | — | — | 0.35 | — | — | 30.27 | 1.93 | 2.18 | † | 2.18 | † | 2.17 | † | (0.05 | )† | 134,665 | 67 | |||||||||||||||||||||||||||||||||||||||||||||||||
10-31-10 | 24.88 | (0.09 | )• | 5.28 | 5.19 | 0.08 | — | — | 0.08 | 0.04 | — | 30.03 | 21.04 | (b) | 2.25 | 2.24 | 2.23 | (0.33 | ) | 103,709 | 49 | |||||||||||||||||||||||||||||||||||||||||||||||||||
10-31-09 | 16.08 | (0.05 | ) | 8.85 | 8.80 | — | — | — | — | — | — | 24.88 | 54.73 | 2.33 | † | 2.25 | † | 2.24 | † | (0.30 | )† | 48,308 | 81 | |||||||||||||||||||||||||||||||||||||||||||||||||
10-31-08 | 27.18 | (0.09 | ) | (10.99 | ) | (11.08 | ) | 0.02 | — | — | 0.02 | — | — | 16.08 | (40.79 | ) | 2.37 | † | 2.30 | † | 2.28 | † | (0.36 | )† | 21,045 | 73 | ||||||||||||||||||||||||||||||||||||||||||||||
10-31-07 | 20.93 | (0.14 | )• | 6.39 | 6.25 | — | — | — | — | — | — | 27.18 | 29.86 | 2.42 | 2.47 | 2.46 | (0.60 | ) | 39,537 | 66 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Class I | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
10-31-11 | 32.14 | 0.37 | • | 0.62 | 0.99 | 0.55 | — | — | 0.55 | — | — | 32.58 | 3.04 | 1.08 | † | 1.08 | † | 1.07 | † | 1.09 | † | 241,105 | 67 | |||||||||||||||||||||||||||||||||||||||||||||||||
10-31-10 | 26.46 | 0.25 | • | 5.63 | 5.88 | 0.24 | — | — | 0.24 | 0.04 | — | 32.14 | 22.49 | (b) | 1.12 | 1.11 | 1.10 | 0.84 | 152,120 | 49 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
10-31-09 | 16.92 | 0.18 | • | 9.36 | 9.54 | — | — | — | — | — | — | 26.46 | 56.38 | 1.18 | † | 1.17 | † | 1.16 | † | 0.82 | † | 10,388 | 81 | |||||||||||||||||||||||||||||||||||||||||||||||||
10-31-08 | 28.57 | 0.22 | (11.59 | ) | (11.37 | ) | 0.28 | — | — | 0.28 | — | — | 16.92 | (40.13 | ) | 1.22 | † | 1.22 | † | 1.20 | † | 0.76 | † | 5,794 | 73 | |||||||||||||||||||||||||||||||||||||||||||||||
10-31-07 | 21.73 | 0.15 | 6.69 | 6.84 | — | — | — | — | — | — | 28.57 | 31.48 | 1.25 | 1.30 | 1.29 | 0.67 | 7,845 | 66 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
Class W | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
10-31-11 | 32.07 | 0.29 | 0.68 | 0.97 | 0.54 | — | — | 0.54 | — | — | 32.50 | 2.98 | 1.18 | † | 1.18 | † | 1.17 | † | 0.87 | † | 25,458 | 67 | ||||||||||||||||||||||||||||||||||||||||||||||||||
10-31-10 | 26.46 | 0.21 | • | 5.60 | 5.81 | 0.24 | — | — | 0.24 | 0.04 | — | 32.07 | 22.23 | (b) | 1.25 | 1.24 | 1.23 | 0.73 | 30,105 | 49 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
06-01-09(4)–10-31-09 | 24.24 | (0.08 | )• | 2.30 | 2.22 | — | — | — | — | — | — | 26.46 | 9.16 | 1.18 | † | 1.17 | † | 1.16 | † | (0.79 | )† | 250 | 81 | |||||||||||||||||||||||||||||||||||||||||||||||||
ING Greater China Fund | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Class A | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
10-31-11 | 16.40 | 0.05 | (2.08 | ) | (2.03 | ) | 0.18 | — | — | 0.18 | — | — | 14.19 | (12.53 | ) | 2.11 | 2.10 | 2.10 | 0.29 | 21,370 | 129 | |||||||||||||||||||||||||||||||||||||||||||||||||||
10-31-10 | 14.28 | 0.04 | • | 2.29 | 2.33 | 0.21 | — | — | 0.21 | — | — | 16.40 | 16.49 | 2.11 | 2.10 | 2.10 | 0.27 | 29,947 | 90 | |||||||||||||||||||||||||||||||||||||||||||||||||||||
10-31-09 | 9.24 | 0.07 | • | 5.78 | 5.85 | 0.21 | 0.60 | — | 0.81 | — | — | 14.28 | 67.10 | 2.29 | 2.11 | 2.11 | 0.58 | 32,860 | 134 | |||||||||||||||||||||||||||||||||||||||||||||||||||||
10-31-08 | 24.43 | 0.05 | • | (13.12 | ) | (13.07 | ) | 0.06 | 2.06 | — | 2.12 | — | — | 9.24 | (57.63 | ) | 1.96 | 1.96 | 1.96 | 0.32 | 20,481 | 159 | ||||||||||||||||||||||||||||||||||||||||||||||||||
10-31-07 | 12.49 | 0.07 | 11.93 | 12.00 | 0.06 | 0.00 | * | — | 0.06 | — | — | 24.43 | 96.41 | 1.91 | 1.91 | 1.91 | 0.54 | 73,804 | 109 | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Class B | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
10-31-11 | 16.18 | (0.08 | )• | (2.04 | ) | (2.12 | ) | 0.07 | — | — | 0.07 | — | — | 13.99 | (13.14 | ) | 2.86 | 2.85 | 2.85 | (0.51 | ) | 1,771 | 129 | |||||||||||||||||||||||||||||||||||||||||||||||||
10-31-10 | 14.11 | (0.07 | )• | 2.26 | 2.19 | 0.12 | — | — | 0.12 | — | — | 16.18 | 15.61 | 2.86 | 2.85 | 2.85 | (0.45 | ) | 2,772 | 90 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
10-31-09 | 9.08 | (0.03 | )• | 5.72 | 5.69 | 0.06 | 0.60 | — | 0.66 | — | — | 14.11 | 65.73 | 3.04 | 2.86 | 2.86 | (0.29 | ) | 3,246 | 134 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
10-31-08 | 24.14 | (0.05 | ) | (12.95 | ) | (13.00 | ) | — | 2.06 | — | 2.06 | — | — | 9.08 | (57.95 | ) | 2.71 | 2.71 | 2.71 | (0.33 | ) | 1,901 | 159 | |||||||||||||||||||||||||||||||||||||||||||||||||
10-31-07 | 12.42 | (0.03 | )• | 11.79 | 11.76 | 0.04 | 0.00 | * | — | 0.04 | — | — | 24.14 | 94.92 | 2.66 | 2.66 | 2.66 | (0.19 | ) | 7,414 | 109 | |||||||||||||||||||||||||||||||||||||||||||||||||||
Class C | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
10-31-11 | 16.19 | (0.06 | ) | (2.06 | ) | (2.12 | ) | 0.08 | — | — | 0.08 | — | — | 13.99 | (13.16 | ) | 2.86 | 2.85 | 2.85 | (0.39 | ) | 4,186 | 129 | |||||||||||||||||||||||||||||||||||||||||||||||||
10-31-10 | 14.15 | (0.08 | )• | 2.28 | 2.20 | 0.16 | — | — | 0.16 | — | — | 16.19 | 15.64 | 2.86 | 2.85 | 2.85 | (0.53 | ) | 5,772 | 90 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
10-31-09 | 9.09 | (0.02 | )• | 5.73 | 5.71 | 0.05 | 0.60 | — | 0.65 | — | — | 14.15 | 65.77 | 3.04 | 2.86 | 2.86 | (0.15 | ) | 6,182 | 134 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
10-31-08 | 24.16 | (0.09 | )• | (12.92 | ) | (13.01 | ) | — | 2.06 | — | 2.06 | — | — | 9.09 | (57.94 | ) | 2.71 | 2.71 | 2.71 | (0.52 | ) | 2,694 | 159 | |||||||||||||||||||||||||||||||||||||||||||||||||
10-31-07 | 12.43 | (0.03 | )• | 11.79 | 11.76 | 0.03 | 0.00 | * | — | 0.03 | — | — | 24.16 | 94.75 | 2.66 | 2.66 | 2.66 | (0.20 | ) | 12,386 | 109 |
Income (loss) from investment operations | | Less distributions | | Ratios to average net assets | Supplemental data | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Net asset value, beginning of year or period | | Net investment income (loss) | | Net realized and unrealized gain (loss) | | Total from investment operations | | From net investment income | | From net realized gains | | From return of capital | | Total distributions | | Payments from Distribution settlement/ affiliate | | Redemption fees applied to capital | | Net asset value, end of year or period | | Total Return (1) | | Expenses before reductions/ additions (2) | | Expenses net of fee waivers and/or recoupments, if any (2)(3) | | Expenses net of all reductions/ additions (2)(3) | | Net investment income (loss) (2)(3) | | Net assets, end of year or period | | Portfolio turnover rate | ||||||||||||||||||||||||||||||||||||||
Year or period ended | ($) | | ($) | | ($) | | ($) | | ($) | | ($) | | ($) | | ($) | | ($) | | ($) | | ($) | | (%) | | (%) | | (%) | | (%) | | (%) | | ($000’s) | | (%) | |||||||||||||||||||||||||||||||||||||
ING Greater China Fund (continued) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Class I | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
10-31-11 | 16.44 | 0.12 | • | (2.10 | ) | (1.98 | ) | 0.23 | — | — | 0.23 | — | — | 14.23 | (12.20 | ) | 1.78 | 1.77 | 1.77 | 0.74 | 1,924 | 129 | ||||||||||||||||||||||||||||||||||||||||||||||||||
10-31-10 | 14.31 | 0.17 | • | 2.23 | 2.40 | 0.27 | — | — | 0.27 | — | — | 16.44 | 16.97 | 1.72 | 1.71 | 1.71 | 1.15 | 2,212 | 90 | |||||||||||||||||||||||||||||||||||||||||||||||||||||
10-31-09 | 9.28 | 0.19 | • | 5.72 | 5.91 | 0.28 | 0.60 | — | 0.88 | — | — | 14.31 | 67.79 | 1.86 | 1.68 | 1.68 | 1.48 | 690 | 134 | |||||||||||||||||||||||||||||||||||||||||||||||||||||
10-31-08 | 24.46 | 0.16 | • | (13.18 | ) | (13.02 | ) | 0.10 | 2.06 | — | 2.16 | — | — | 9.28 | (57.42 | ) | 1.70 | 1.70 | 1.70 | 1.02 | 39 | 159 | ||||||||||||||||||||||||||||||||||||||||||||||||||
10-31-07 | 12.50 | 0.11 | 11.93 | 12.04 | 0.08 | 0.00 | * | — | 0.08 | — | — | 24.46 | 96.81 | 1.66 | 1.66 | 1.66 | 0.73 | 52 | 109 | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Class O | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
10-31-11 | 16.27 | 0.07 | (2.08 | ) | (2.01 | ) | 0.19 | — | — | 0.19 | — | — | 14.07 | (12.51 | ) | 2.11 | 2.10 | 2.10 | 0.48 | 4,636 | 129 | |||||||||||||||||||||||||||||||||||||||||||||||||||
10-31-10 | 14.19 | 0.07 | • | 2.24 | 2.31 | 0.23 | — | — | 0.23 | — | — | 16.27 | 16.49 | 2.11 | 2.10 | 2.10 | 0.49 | 4,530 | 90 | |||||||||||||||||||||||||||||||||||||||||||||||||||||
10-31-09 | 9.26 | 0.11 | • | 5.70 | 5.81 | 0.28 | 0.60 | — | 0.88 | — | — | 14.19 | 66.79 | 2.29 | 2.11 | 2.11 | 0.85 | 2,966 | 134 | |||||||||||||||||||||||||||||||||||||||||||||||||||||
06-04-08(4)–10-31-08 | 16.83 | 0.11 | • | (7.68 | ) | (7.57 | ) | — | — | — | — | — | — | 9.26 | (44.98 | ) | 1.96 | 1.96 | 1.96 | 2.23 | 206 | 159 | ||||||||||||||||||||||||||||||||||||||||||||||||||
Class W | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
08-05-11(4)–10-31-11 | 15.51 | 0.02 | (1.30 | ) | (1.28 | ) | 0.00 | * | — | — | 0.00 | * | — | — | 14.23 | (8.25 | ) | 1.86 | 1.85 | 1.85 | 0.61 | 3 | 129 | |||||||||||||||||||||||||||||||||||||||||||||||||
ING Index Plus International Equity Fund | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Class A | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
10-31-11 | 8.36 | 0.18 | (0.66 | ) | (0.48 | ) | 0.11 | — | — | 0.11 | — | — | 7.77 | (5.81 | ) | 1.48 | † | 1.15 | † | 1.15 | † | 1.98 | † | 7,322 | 140 | |||||||||||||||||||||||||||||||||||||||||||||||
10-31-10 | 7.80 | 0.13 | 0.58 | 0.71 | 0.15 | — | — | 0.15 | 0.00 | * | 0.00 | 8.36 | 9.17 | (c) | 1.31 | † | 1.16 | † | 1.16 | † | 1.65 | † | 8,969 | 171 | ||||||||||||||||||||||||||||||||||||||||||||||||
10-31-09 | 6.35 | 0.16 | • | 1.49 | 1.65 | 0.23 | — | — | 0.23 | 0.03 | — | 7.80 | 27.40 | (d) | 1.53 | 1.15 | 1.15 | 2.58 | 8,828 | 169 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
10-31-08 | 13.95 | 0.19 | • | (6.24 | ) | (6.05 | ) | 0.18 | 1.37 | — | 1.55 | — | — | 6.35 | (48.51 | ) | 1.73 | 1.30 | 1.30 | 1.93 | 9,446 | 215 | ||||||||||||||||||||||||||||||||||||||||||||||||||
10-31-07 | 11.68 | 0.14 | • | 2.48 | 2.62 | 0.08 | 0.27 | — | 0.35 | — | — | 13.95 | 22.98 | 1.13 | 1.16 | 1.16 | 1.17 | 2,233 | 213 | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Class B | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
10-31-11 | 8.36 | 0.10 | • | (0.64 | ) | (0.54 | ) | 0.03 | — | — | 0.03 | — | — | 7.79 | (6.47 | ) | 2.23 | † | 1.90 | † | 1.90 | † | 1.16 | † | 387 | 140 | ||||||||||||||||||||||||||||||||||||||||||||||
10-31-10 | 7.80 | 0.06 | • | 0.58 | 0.64 | 0.08 | — | — | 0.08 | 0.00 | * | — | 8.36 | 8.30 | (c) | 2.06 | † | 1.91 | † | 1.91 | † | 0.86 | † | 772 | 171 | |||||||||||||||||||||||||||||||||||||||||||||||
10-31-09 | 6.29 | 0.11 | • | 1.49 | 1.60 | 0.12 | — | — | 0.12 | 0.03 | — | 7.80 | 26.41 | (d) | 2.28 | 1.90 | 1.90 | 1.74 | 1,221 | 169 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
10-31-08 | 13.90 | 0.12 | • | (6.20 | ) | (6.08 | ) | 0.16 | 1.37 | — | 1.53 | — | — | 6.29 | (48.88 | ) | 2.48 | 2.05 | 2.05 | 1.22 | 1,571 | 215 | ||||||||||||||||||||||||||||||||||||||||||||||||||
10-31-07 | 11.63 | 0.09 | • | 2.51 | 2.60 | 0.06 | 0.27 | — | 0.33 | — | — | 13.90 | 22.85 | 1.89 | 1.92 | 1.92 | 0.67 | 734 | 213 | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Class C | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
10-31-11 | 8.30 | 0.10 | • | (0.64 | ) | (0.54 | ) | 0.04 | — | — | 0.04 | — | — | 7.72 | (6.52 | ) | 2.23 | † | 1.90 | † | 1.90 | † | 1.23 | † | 943 | 140 | ||||||||||||||||||||||||||||||||||||||||||||||
10-31-10 | 7.75 | 0.07 | • | 0.57 | 0.64 | 0.09 | — | — | 0.09 | 0.00 | * | — | 8.30 | 8.35 | (c) | 2.06 | † | 1.91 | † | 1.91 | † | 0.93 | † | 1,202 | 171 | |||||||||||||||||||||||||||||||||||||||||||||||
10-31-09 | 6.28 | 0.11 | • | 1.48 | 1.59 | 0.15 | — | — | 0.15 | 0.03 | — | 7.75 | 26.45 | (d) | 2.28 | 1.90 | 1.90 | 1.78 | 1,445 | 169 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
10-31-08 | 13.89 | 0.12 | • | (6.20 | ) | (6.08 | ) | 0.16 | 1.37 | — | 1.53 | — | — | 6.28 | (48.91 | ) | 2.48 | 2.05 | 2.05 | 1.16 | 1,311 | 215 | ||||||||||||||||||||||||||||||||||||||||||||||||||
10-31-07 | 11.61 | 0.09 | • | 2.50 | 2.59 | 0.04 | 0.27 | — | 0.31 | — | — | 13.89 | 22.81 | 1.89 | 1.92 | 1.92 | 0.69 | 1,126 | 213 | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Class I | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
10-31-11 | 8.38 | 0.17 | (0.61 | ) | (0.44 | ) | 0.14 | — | — | 0.14 | — | — | 7.80 | (5.34 | ) | 1.04 | † | 0.71 | † | 0.71 | † | 2.02 | † | 47,132 | 140 | |||||||||||||||||||||||||||||||||||||||||||||||
10-31-10 | 7.81 | 0.14 | • | 0.59 | 0.73 | 0.16 | — | — | 0.16 | 0.00 | * | — | 8.38 | 9.46 | (c) | 0.85 | † | 0.83 | † | 0.83 | † | 1.86 | † | 81,470 | 171 | |||||||||||||||||||||||||||||||||||||||||||||||
10-31-09 | 6.42 | 0.18 | • | 1.50 | 1.68 | 0.32 | — | — | 0.32 | 0.03 | — | 7.81 | 27.81 | (d) | 0.92 | 0.90 | 0.90 | 2.83 | 51,144 | 169 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
10-31-08 | 14.06 | 0.29 | • | (6.32 | ) | (6.03 | ) | 0.24 | 1.37 | — | 1.61 | — | — | 6.42 | (48.12 | ) | 1.05 | 0.62 | 0.62 | 2.80 | 54,838 | 215 | ||||||||||||||||||||||||||||||||||||||||||||||||||
10-31-07 | 11.70 | 0.20 | 2.55 | 2.75 | 0.12 | 0.27 | — | 0.39 | — | — | 14.06 | 24.14 | 0.84 | 0.87 | 0.87 | 1.78 | 118,924 | 213 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
Class O | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
10-31-11 | 8.30 | 0.17 | (0.65 | ) | (0.48 | ) | 0.11 | — | — | 0.11 | — | — | 7.71 | (5.85 | ) | 1.48 | † | 1.15 | † | 1.15 | † | 1.98 | † | 38,942 | 140 | |||||||||||||||||||||||||||||||||||||||||||||||
10-31-10 | 7.75 | 0.14 | 0.56 | 0.70 | 0.15 | — | — | 0.15 | 0.00 | * | — | 8.30 | 9.10 | (c) | 1.31 | † | 1.16 | † | 1.16 | † | 1.65 | † | 45,938 | 171 | ||||||||||||||||||||||||||||||||||||||||||||||||
10-31-09 | 6.31 | 0.16 | • | 1.49 | 1.65 | 0.24 | — | — | 0.24 | 0.03 | — | 7.75 | 27.60 | (d) | 1.53 | 1.15 | 1.15 | 2.53 | 47,328 | 169 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
11-09-07(4)–10-31-08 | 13.09 | 0.19 | • | (5.36 | ) | (5.17 | ) | 0.24 | 1.37 | — | 1.61 | — | — | 6.31 | (45.16 | ) | 1.73 | 1.30 | 1.30 | 2.03 | 41,539 | 215 | ||||||||||||||||||||||||||||||||||||||||||||||||||
Class W | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
08-05-11(4)–10-31-11 | 7.93 | 0.03 | (0.17 | ) | (0.14 | ) | — | — | — | — | — | — | 7.79 | (1.77 | ) | 1.23 | † | 0.90 | † | 0.90 | † | 1.73 | † | 3 | 140 |
Income (loss) from investment operations | | Less distributions | | Ratios to average net assets | Supplemental data | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Net asset value, beginning of year or period | | Net investment income (loss) | | Net realized and unrealized gain (loss) | | Total from investment operations | | From net investment income | | From net realized gains | | From return of capital | | Total distributions | | Payments from Distribution settlement/ affiliate | | Redemption fees applied to capital | | Net asset value, end of year or period | | Total Return (1) | | Expenses before reductions/ additions (2) | | Expenses net of fee waivers and/or recoupments, if any (2)(3) | | Expenses net of all reductions/ additions (2)(3) | | Net investment income (loss) (2)(3) | | Net assets, end of year or period | | Portfolio turnover rate | ||||||||||||||||||||||||||||||||||||||
Year or period ended | ($) | | ($) | | ($) | | ($) | | ($) | | ($) | | ($) | | ($) | | ($) | | ($) | | ($) | | (%) | | (%) | | (%) | | (%) | | (%) | | ($000’s) | | (%) | |||||||||||||||||||||||||||||||||||||
ING International Capital Appreciation Fund(5) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Class A | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
10-31-11 | 10.08 | 0.07 | • | (0.98 | ) | (0.91 | ) | 0.04 | — | — | 0.04 | — | — | 9.13 | (9.12 | ) | 1.75 | 1.47 | 1.47 | 0.71 | 16,511 | 65 | ||||||||||||||||||||||||||||||||||||||||||||||||||
10-31-10 | 9.03 | 0.04 | 1.01 | 1.05 | — | — | — | — | 0.00 | * | — | 10.08 | 11.63 | (c) | 1.70 | 1.46 | 1.45 | 0.42 | 24,553 | 63 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
10-31-09 | 6.70 | 0.00 | *• | 2.49 | 2.49 | 0.15 | — | 0.01 | 0.16 | — | — | 9.03 | 37.80 | 1.55 | 1.51 | 1.50 | 0.01 | 25,819 | 75 | |||||||||||||||||||||||||||||||||||||||||||||||||||||
10-31-08 | 14.86 | 0.12 | (7.64 | ) | (7.52 | ) | 0.14 | 0.50 | — | 0.64 | — | — | 6.70 | (52.69 | ) | 1.41 | 1.46 | 1.46 | 0.73 | 1,612 | 83 | |||||||||||||||||||||||||||||||||||||||||||||||||||
10-31-07 | 11.39 | 0.01 | • | 3.76 | 3.77 | 0.05 | 0.25 | — | 0.30 | — | — | 14.86 | 33.89 | 1.48 | 1.50 | 1.50 | 0.08 | 4,592 | 71 | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Class B | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
10-31-11 | 9.91 | (0.01 | )• | (0.96 | ) | (0.97 | ) | 0.01 | — | — | 0.01 | — | — | 8.93 | (9.83 | ) | 2.50 | 2.22 | 2.22 | (0.12 | ) | 940 | 65 | |||||||||||||||||||||||||||||||||||||||||||||||||
10-31-10 | 8.95 | (0.04 | ) | 1.00 | 0.96 | — | — | — | — | 0.00 | * | — | 9.91 | 10.73 | (c) | 2.45 | 2.21 | 2.20 | (0.33 | ) | 2,597 | 63 | ||||||||||||||||||||||||||||||||||||||||||||||||||
10-31-09 | 6.58 | (0.06 | )• | 2.47 | 2.41 | 0.03 | — | 0.01 | 0.04 | — | — | 8.95 | 36.68 | 2.30 | 2.26 | 2.25 | (0.75 | ) | 4,460 | 75 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
10-31-08 | 14.67 | (0.01 | )• | (7.47 | ) | (7.48 | ) | 0.11 | 0.50 | — | 0.61 | — | — | 6.58 | (53.01 | ) | 2.16 | 2.21 | 2.21 | (0.11 | ) | 278 | 83 | |||||||||||||||||||||||||||||||||||||||||||||||||
10-31-07 | 11.33 | (0.09 | ) | 3.71 | 3.62 | 0.03 | 0.25 | — | 0.28 | — | — | 14.67 | 32.67 | 2.23 | 2.25 | 2.25 | (0.88 | ) | 943 | 71 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Class C | �� | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
10-31-11 | 9.95 | 0.00 | * | (0.97 | ) | (0.97 | ) | 0.01 | — | — | 0.01 | — | — | 8.97 | (9.79 | ) | 2.50 | 2.22 | 2.22 | (0.04 | ) | 5,978 | 65 | |||||||||||||||||||||||||||||||||||||||||||||||||
10-31-10 | 8.98 | (0.03 | ) | 1.00 | 0.97 | — | — | — | — | 0.00 | * | — | 9.95 | 10.80 | (c) | 2.45 | 2.21 | 2.20 | (0.32 | ) | 7,495 | 63 | ||||||||||||||||||||||||||||||||||||||||||||||||||
10-31-09 | 6.60 | (0.06 | )• | 2.47 | 2.41 | 0.02 | — | 0.01 | 0.03 | — | — | 8.98 | 36.38 | 2.30 | 2.26 | 2.25 | (0.69 | ) | 7,825 | 75 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
10-31-08 | 14.71 | 0.00 | *• | (7.50 | ) | (7.50 | ) | 0.11 | 0.50 | — | 0.61 | — | — | 6.60 | (52.99 | ) | 2.16 | 2.21 | 2.21 | 0.01 | 354 | 83 | ||||||||||||||||||||||||||||||||||||||||||||||||||
10-31-07 | 11.35 | (0.12 | ) | 3.73 | 3.61 | 0.00 | * | 0.25 | — | 0.25 | — | — | 14.71 | 32.45 | 2.23 | 2.25 | 2.25 | (0.97 | ) | 971 | 71 | |||||||||||||||||||||||||||||||||||||||||||||||||||
Class I | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
10-31-11 | 10.09 | 0.06 | • | (0.95 | ) | (0.89 | ) | 0.08 | — | — | 0.08 | — | — | 9.12 | (8.89 | ) | 1.30 | 1.02 | 1.02 | 0.60 | 5,912 | 65 | ||||||||||||||||||||||||||||||||||||||||||||||||||
10-31-10 | 9.00 | 0.08 | 1.01 | 1.09 | — | — | — | — | 0.00 | * | — | 10.09 | 12.11 | (c) | 1.20 | 0.96 | 0.95 | 0.89 | 58,078 | 63 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
10-31-09 | 6.73 | 0.09 | • | 2.41 | 2.50 | 0.22 | — | 0.01 | 0.23 | — | — | 9.00 | 38.21 | 1.18 | 1.14 | 1.13 | 1.17 | 58,959 | 75 | |||||||||||||||||||||||||||||||||||||||||||||||||||||
10-31-08 | 14.90 | 0.17 | (7.67 | ) | (7.50 | ) | 0.17 | 0.50 | — | 0.67 | — | — | 6.73 | (52.48 | ) | 1.08 | 1.13 | 1.13 | 1.09 | 47,918 | 83 | |||||||||||||||||||||||||||||||||||||||||||||||||||
10-31-07 | 11.43 | 0.06 | • | 3.75 | 3.81 | 0.09 | 0.25 | — | 0.34 | — | — | 14.90 | 34.14 | 1.13 | 1.15 | 1.15 | 0.47 | 140,901 | 71 | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Class W | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
10-31-11 | 10.10 | 0.10 | • | (0.98 | ) | (0.88 | ) | 0.07 | — | — | 0.07 | — | — | 9.15 | (8.82 | ) | 1.50 | 1.22 | 1.22 | 0.96 | 7,687 | 65 | ||||||||||||||||||||||||||||||||||||||||||||||||||
10-31-10 | 9.03 | 0.07 | 1.00 | 1.07 | — | — | — | — | 0.00 | * | — | 10.10 | 11.85 | (c) | 1.46 | 1.22 | 1.21 | 0.66 | 10,787 | 63 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
08-07-09(4)–10-31-09 | 8.59 | 0.00 | *• | 0.44 | 0.44 | — | — | — | — | — | — | 9.03 | 5.12 | 1.43 | 1.39 | 1.38 | 0.04 | 11,675 | 75 | |||||||||||||||||||||||||||||||||||||||||||||||||||||
ING International Core Fund | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Class I | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
02-08-11(4)–10-31-11 | 10.00 | 0.11 | • | (1.28 | ) | (1.17 | ) | — | — | — | — | — | — | 8.83 | (11.70 | ) | 1.00 | 0.95 | 0.95 | 1.56 | 349,613 | 57 | ||||||||||||||||||||||||||||||||||||||||||||||||||
ING International Growth Fund | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Class I | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
01-06-11(4)–10-31-11 | 10.00 | 0.15 | (0.85 | ) | (0.70 | ) | — | — | — | — | — | — | 9.30 | (7.00 | ) | 1.07 | 0.99 | 0.99 | �� | 1.91 | 150,232 | 33 | ||||||||||||||||||||||||||||||||||||||||||||||||||
ING International Real Estate Fund | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Class A | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
10-31-11 | 8.85 | 0.15 | (0.73 | ) | (0.58 | ) | 0.46 | — | — | 0.46 | — | — | 7.81 | (6.96 | ) | 1.47 | 1.47 | 1.47 | 1.84 | 189,499 | 66 | |||||||||||||||||||||||||||||||||||||||||||||||||||
10-31-10 | 8.48 | 0.14 | • | 0.85 | 0.99 | 0.62 | — | — | 0.62 | — | — | 8.85 | 12.46 | 1.50 | 1.50 | 1.50 | 1.77 | 240,779 | 60 | |||||||||||||||||||||||||||||||||||||||||||||||||||||
10-31-09 | 6.91 | 0.17 | 1.57 | 1.74 | 0.17 | — | — | 0.17 | — | — | 8.48 | 25.77 | 1.73 | 1.53 | 1.53 | 2.43 | 116,989 | 72 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
10-31-08 | 14.56 | 0.33 | (7.43 | ) | (7.10 | ) | 0.36 | — | 0.19 | 0.55 | — | — | 6.91 | (50.31 | ) | 1.48 | 1.50 | 1.50 | 1.76 | 89,623 | 46 | |||||||||||||||||||||||||||||||||||||||||||||||||||
10-31-07 | 11.63 | 0.13 | • | 3.14 | 3.27 | 0.34 | — | — | 0.34 | — | — | 14.56 | 28.49 | 1.51 | 1.50 | 1.50 | 0.99 | 271,425 | 44 | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Class B | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
10-31-11 | 8.82 | 0.09 | • | (0.74 | ) | (0.65 | ) | 0.39 | — | — | 0.39 | — | — | 7.78 | (7.79 | ) | 2.22 | 2.22 | 2.22 | 1.06 | 2,088 | 66 | ||||||||||||||||||||||||||||||||||||||||||||||||||
10-31-10 | 8.44 | 0.08 | • | 0.86 | 0.94 | 0.56 | — | — | 0.56 | — | — | 8.82 | 11.74 | 2.25 | 2.25 | 2.25 | 1.05 | 3,019 | 60 | |||||||||||||||||||||||||||||||||||||||||||||||||||||
10-31-09 | 6.88 | 0.12 | 1.56 | 1.68 | 0.12 | — | — | 0.12 | — | — | 8.44 | 24.82 | 2.48 | 2.28 | 2.28 | 1.78 | 3,875 | 72 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
10-31-08 | 14.50 | 0.25 | (7.41 | ) | (7.16 | ) | 0.27 | — | 0.19 | 0.46 | — | — | 6.88 | (50.72 | ) | 2.23 | 2.25 | 2.25 | 1.00 | 4,004 | 46 | |||||||||||||||||||||||||||||||||||||||||||||||||||
10-31-07 | 11.59 | 0.03 | • | 3.14 | 3.17 | 0.26 | — | — | 0.26 | — | — | 14.50 | 27.69 | 2.26 | 2.25 | 2.25 | 0.25 | 11,819 | 44 |
Income (loss) from investment operations | | Less distributions | | Ratios to average net assets | Supplemental data | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Net asset value, beginning of year or period | | Net investment income (loss) | | Net realized and unrealized gain (loss) | | Total from investment operations | | From net investment income | | From net realized gains | | From return of capital | | Total distributions | | Payments from Distribution settlement/ affiliate | | Redemption fees applied to capital | | Net asset value, end of year or period | | Total Return (1) | | Expenses before reductions/ additions (2) | | Expenses net of fee waivers and/or recoupments, if any (2)(3) | | Expenses net of all reductions/ additions (2)(3) | | Net investment income (loss) (2)(3) | | Net assets, end of year or period | | Portfolio turnover rate | ||||||||||||||||||||||||||||||||||||||
Year or period ended | ($) | | ($) | | ($) | | ($) | | ($) | | ($) | | ($) | | ($) | | ($) | | ($) | | ($) | | (%) | | (%) | | (%) | | (%) | | (%) | | ($000’s) | | (%) | |||||||||||||||||||||||||||||||||||||
ING International Real Estate Fund (continued) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Class C | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
10-31-11 | 8.81 | 0.11 | (0.75 | ) | (0.64 | ) | 0.39 | — | — | 0.39 | — | — | 7.78 | (7.64 | ) | 2.22 | 2.22 | 2.22 | 1.12 | 18,966 | 66 | |||||||||||||||||||||||||||||||||||||||||||||||||||
10-31-10 | 8.44 | 0.08 | • | 0.85 | 0.93 | 0.56 | — | — | 0.56 | — | — | 8.81 | 11.65 | 2.25 | 2.25 | 2.25 | 1.05 | 25,632 | 60 | |||||||||||||||||||||||||||||||||||||||||||||||||||||
10-31-09 | 6.88 | 0.13 | 1.54 | 1.67 | 0.11 | — | — | 0.11 | — | — | 8.44 | 24.76 | 2.48 | 2.28 | 2.28 | 1.81 | 26,520 | 72 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
10-31-08 | 14.49 | 0.29 | (7.44 | ) | (7.15 | ) | 0.27 | — | 0.19 | 0.46 | — | — | 6.88 | (50.69 | ) | 2.23 | 2.25 | 2.25 | 1.00 | 36,661 | 46 | |||||||||||||||||||||||||||||||||||||||||||||||||||
10-31-07 | 11.59 | 0.03 | • | 3.13 | 3.16 | 0.26 | — | — | 0.26 | — | — | 14.49 | 27.58 | 2.26 | 2.25 | 2.25 | 0.24 | 121,529 | 44 | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Class I | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
10-31-11 | 8.87 | 0.19 | (0.75 | ) | (0.56 | ) | 0.49 | — | — | 0.49 | — | — | 7.82 | (6.75 | ) | 1.14 | 1.14 | 1.14 | 2.08 | 253,837 | 66 | |||||||||||||||||||||||||||||||||||||||||||||||||||
10-31-10 | 8.49 | 0.18 | 0.85 | 1.03 | 0.65 | — | — | 0.65 | — | — | 8.87 | 12.90 | 1.17 | 1.17 | 1.17 | 2.13 | 365,799 | 60 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
10-31-09 | 6.92 | 0.19 | 1.57 | 1.76 | 0.19 | — | — | 0.19 | — | — | 8.49 | 26.12 | 1.23 | 1.23 | 1.23 | 2.80 | 387,251 | 72 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
10-31-08 | 14.58 | 0.23 | • | (7.31 | ) | (7.08 | ) | 0.39 | — | 0.19 | 0.58 | — | — | 6.92 | (50.14 | ) | 1.16 | 1.18 | 1.18 | 2.22 | 290,227 | 46 | ||||||||||||||||||||||||||||||||||||||||||||||||||
10-31-07 | 11.64 | 0.16 | • | 3.15 | 3.31 | 0.37 | — | — | 0.37 | — | — | 14.58 | 28.80 | 1.26 | 1.25 | 1.25 | 1.22 | 127,029 | 44 | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Class W | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
10-31-11 | 8.89 | 0.19 | • | (0.75 | ) | (0.56 | ) | 0.49 | — | — | 0.49 | — | — | 7.84 | (6.76 | ) | 1.22 | 1.22 | 1.22 | 2.21 | 10,270 | 66 | ||||||||||||||||||||||||||||||||||||||||||||||||||
10-31-10 | 8.51 | 0.16 | • | 0.86 | 1.02 | 0.64 | — | — | 0.64 | — | — | 8.89 | 12.80 | 1.25 | 1.25 | 1.25 | 2.01 | 5,202 | 60 | |||||||||||||||||||||||||||||||||||||||||||||||||||||
10-31-09 | 6.91 | 0.19 | 1.60 | 1.79 | 0.19 | — | — | 0.19 | — | — | 8.51 | 26.61 | 1.23 | 1.23 | 1.23 | 2.85 | 2,094 | 72 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
02-12-08(4)–10-31-08 | 11.48 | 0.17 | • | (4.59 | ) | (4.42 | ) | 0.10 | — | 0.05 | 0.15 | — | — | 6.91 | (38.91 | ) | 1.18 | 1.20 | 1.20 | 2.45 | 307 | 46 | ||||||||||||||||||||||||||||||||||||||||||||||||||
ING International SmallCap Multi-Manager Fund | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Class A | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
10-31-11 | 37.55 | 0.29 | • | (2.32 | ) | (2.03 | ) | 0.14 | — | — | 0.14 | 0.01 | — | 35.39 | (5.41 | )(e) | 1.72 | † | 1.70 | † | 1.70 | † | 0.74 | † | 99,873 | 37 | ||||||||||||||||||||||||||||||||||||||||||||||
10-31-10 | 31.45 | 0.14 | • | 6.28 | 6.42 | 0.40 | — | — | 0.40 | 0.08 | — | 37.55 | 20.85 | (f) | 1.81 | † | 1.79 | † | 1.79 | † | 0.42 | † | 144,594 | 63 | ||||||||||||||||||||||||||||||||||||||||||||||||
10-31-09 | 22.73 | 0.21 | • | 9.04 | 9.25 | 0.71 | — | — | 0.71 | 0.18 | — | 31.45 | 42.73 | (g) | 1.95 | † | 1.95 | † | 1.95 | † | 0.85 | † | 177,914 | 103 | ||||||||||||||||||||||||||||||||||||||||||||||||
10-31-08 | 66.43 | 0.65 | (36.15 | ) | (35.50 | ) | 0.32 | 7.88 | — | 8.20 | — | — | 22.73 | (59.84 | ) | 1.70 | 1.70 | 1.70 | 1.27 | 160,896 | 84 | |||||||||||||||||||||||||||||||||||||||||||||||||||
10-31-07 | 47.15 | 0.31 | 19.25 | 19.56 | 0.28 | — | — | 0.28 | — | — | 66.43 | 41.67 | 1.60 | 1.60 | 1.60 | 0.67 | 523,535 | 93 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
Class B | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
10-31-11 | 39.49 | (0.00 | )*• | (2.41 | ) | (2.41 | ) | 0.00 | * | — | — | 0.00 | * | 0.02 | — | 37.10 | (6.05 | )(e) | 2.37 | † | 2.35 | † | 2.35 | † | (0.01 | )† | 2,592 | 37 | ||||||||||||||||||||||||||||||||||||||||||||
10-31-10 | 33.01 | (0.09 | )• | 6.62 | 6.53 | 0.13 | — | — | 0.13 | 0.08 | — | 39.49 | 20.07 | (f) | 2.46 | † | 2.44 | † | 2.44 | † | (0.27 | )† | 5,120 | 63 | ||||||||||||||||||||||||||||||||||||||||||||||||
10-31-09 | 23.48 | 0.06 | • | 9.45 | 9.51 | 0.17 | — | — | 0.17 | 0.19 | — | 33.01 | 41.60 | (g) | 2.60 | † | 2.60 | † | 2.60 | † | 0.24 | † | 8,383 | 103 | ||||||||||||||||||||||||||||||||||||||||||||||||
10-31-08 | 68.31 | 0.21 | • | (37.16 | ) | (36.95 | ) | — | 7.88 | — | 7.88 | — | — | 23.48 | (60.10 | ) | 2.35 | 2.35 | 2.35 | 0.45 | 11,892 | 84 | ||||||||||||||||||||||||||||||||||||||||||||||||||
10-31-07 | 48.53 | 0.00 | *• | 19.78 | 19.78 | — | — | — | — | — | — | 68.31 | 40.76 | 2.25 | 2.25 | 2.25 | 0.00 | * | 65,619 | 93 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Class C | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
10-31-11 | 35.04 | 0.04 | • | (2.16 | ) | (2.12 | ) | 0.00 | * | — | — | 0.00 | * | 0.01 | — | 32.93 | (6.02 | )(e) | 2.37 | † | 2.35 | † | 2.35 | † | 0.11 | † | 23,410 | 37 | ||||||||||||||||||||||||||||||||||||||||||||
10-31-10 | 29.41 | (0.07 | )• | 5.87 | 5.80 | 0.24 | — | — | 0.24 | 0.07 | — | 35.04 | 20.05 | (f) | 2.46 | † | 2.44 | † | 2.44 | † | (0.23 | )† | 31,078 | 63 | ||||||||||||||||||||||||||||||||||||||||||||||||
10-31-09 | 21.15 | 0.05 | • | 8.46 | 8.51 | 0.42 | — | — | 0.42 | 0.17 | — | 29.41 | 41.80 | (g) | 2.60 | † | 2.60 | † | 2.60 | † | 0.21 | † | 31,928 | 103 | ||||||||||||||||||||||||||||||||||||||||||||||||
10-31-08 | 62.48 | 0.34 | (33.79 | ) | (33.45 | ) | — | 7.88 | — | 7.88 | — | — | 21.15 | (60.11 | ) | 2.35 | 2.35 | 2.35 | 0.58 | 29,760 | 84 | |||||||||||||||||||||||||||||||||||||||||||||||||||
10-31-07 | 44.39 | 0.00 | *• | 18.09 | 18.09 | 0.00 | * | — | — | 0.00 | * | — | — | 62.48 | 40.76 | 2.25 | 2.25 | 2.25 | 0.01 | 104,274 | 93 | |||||||||||||||||||||||||||||||||||||||||||||||||||
Class I | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
10-31-11 | 37.66 | 0.50 | • | (2.35 | ) | (1.85 | ) | 0.32 | — | — | 0.32 | 0.01 | — | 35.50 | (4.97 | )(e) | 1.27 | † | 1.25 | † | 1.25 | † | 1.26 | † | 153,676 | 37 | ||||||||||||||||||||||||||||||||||||||||||||||
10-31-10 | 31.53 | 0.33 | 6.27 | 6.60 | 0.55 | — | — | 0.55 | 0.08 | — | 37.66 | 21.45 | (f) | 1.28 | † | 1.26 | † | 1.26 | † | 0.99 | † | 210,965 | 63 | |||||||||||||||||||||||||||||||||||||||||||||||||
10-31-09 | 22.85 | 0.32 | • | 9.09 | 9.41 | 0.91 | — | — | 0.91 | 0.18 | — | 31.53 | 43.57 | (g) | 1.45 | † | 1.45 | † | 1.45 | † | 1.29 | † | 164,985 | 103 | ||||||||||||||||||||||||||||||||||||||||||||||||
10-31-08 | 66.72 | 0.78 | (36.25 | ) | (35.47 | ) | 0.52 | 7.88 | — | 8.40 | — | — | 22.85 | (59.66 | ) | 1.29 | 1.29 | 1.29 | 1.71 | 139,213 | 84 | |||||||||||||||||||||||||||||||||||||||||||||||||||
10-31-07 | 47.35 | 0.60 | 19.25 | 19.85 | 0.48 | — | — | 0.48 | — | — | 66.72 | 42.24 | 1.20 | 1.20 | 1.20 | 1.12 | 376,737 | 93 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
Class O | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
10-31-11 | 37.30 | 0.39 | • | (2.37 | ) | (1.98 | ) | 0.20 | — | — | 0.20 | 0.01 | — | 35.13 | (5.32 | )(e) | 1.62 | † | 1.60 | † | 1.60 | † | 1.00 | † | 1,425 | 37 | ||||||||||||||||||||||||||||||||||||||||||||||
10-31-10 | 31.28 | 0.19 | 6.22 | 6.41 | 0.47 | — | — | 0.47 | 0.08 | — | 37.30 | 20.95 | (f) | 1.71 | † | 1.69 | † | 1.69 | † | 0.66 | † | 1,164 | 63 | |||||||||||||||||||||||||||||||||||||||||||||||||
10-31-09 | 22.75 | 0.18 | • | 9.07 | 9.25 | 0.90 | — | — | 0.90 | 0.18 | — | 31.28 | 43.07 | (g) | 1.85 | † | 1.85 | † | 1.85 | † | 0.69 | † | 565 | 103 | ||||||||||||||||||||||||||||||||||||||||||||||||
06-04-08(4)–10-31-08 | 47.28 | 0.18 | • | (24.71 | ) | (24.53 | ) | — | 0.00 | * | — | — | — | — | 22.75 | (51.88 | ) | 1.60 | 1.60 | 1.60 | 1.39 | 62 | 84 |
Income (loss) from investment operations | | Less distributions | | Ratios to average net assets | Supplemental data | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Net asset value, beginning of year or period | | Net investment income (loss) | | Net realized and unrealized gain (loss) | | Total from investment operations | | From net investment income | | From net realized gains | | From return of capital | | Total distributions | | Payments from Distribution settlement/ affiliate | | Redemption fees applied to capital | | Net asset value, end of year or period | | Total Return (1) | | Expenses before reductions/ additions (2) | | Expenses net of fee waivers and/or recoupments, if any (2)(3) | | Expenses net of all reductions/ additions (2)(3) | | Net investment income (loss) (2)(3) | | Net assets, end of year or period | | Portfolio turnover rate | ||||||||||||||||||||||||||||||||||||||
Year or period ended | ($) | | ($) | | ($) | | ($) | | ($) | | ($) | | ($) | | ($) | | ($) | | ($) | | ($) | | (%) | | (%) | | (%) | | (%) | | (%) | | ($000’s) | | (%) | |||||||||||||||||||||||||||||||||||||
ING International SmallCap Multi-Manager Fund (continued) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Class W | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
10-31-11 | 44.49 | 0.53 | • | (2.79 | ) | (2.26 | ) | 0.25 | — | — | 0.25 | 0.02 | — | 42.00 | (5.08 | )(e) | 1.37 | † | 1.35 | † | 1.35 | † | 1.14 | † | 26,693 | 37 | ||||||||||||||||||||||||||||||||||||||||||||||
10-31-10 | 37.21 | 0.32 | • | 7.41 | 7.73 | 0.54 | — | — | 0.54 | 0.09 | — | 44.49 | 21.24 | (f) | 1.46 | † | 1.44 | † | 1.44 | † | 0.82 | † | 42,257 | 63 | ||||||||||||||||||||||||||||||||||||||||||||||||
10-31-09 | 26.83 | 0.37 | 10.71 | 11.08 | 0.92 | — | — | 0.92 | 0.22 | — | 37.21 | 43.54 | (g) | 1.45 | † | 1.45 | † | 1.45 | † | 1.32 | † | 12,096 | 103 | |||||||||||||||||||||||||||||||||||||||||||||||||
02-12-08(4)–10-31-08 | 50.70 | 0.50 | • | (24.37 | ) | (23.87 | ) | — | 0.00 | * | — | — | — | — | 26.83 | (47.08 | ) | 1.29 | 1.29 | 1.29 | 1.80 | 10,366 | 84 | |||||||||||||||||||||||||||||||||||||||||||||||||
ING International Value Choice Fund | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Class A | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
10-31-11 | 10.96 | 0.16 | (0.90 | ) | (0.74 | ) | 0.09 | — | — | 0.09 | — | — | 10.13 | (6.82 | ) | 1.82 | † | 1.60 | † | 1.60 | † | 1.42 | † | 21,037 | 48 | |||||||||||||||||||||||||||||||||||||||||||||||
10-31-10 | 9.68 | 0.08 | • | 1.26 | 1.34 | 0.06 | — | — | 0.06 | — | — | 10.96 | 13.95 | 1.78 | † | 1.70 | † | 1.70 | † | 0.77 | † | 22,683 | 43 | |||||||||||||||||||||||||||||||||||||||||||||||||
10-31-09 | 7.56 | 0.06 | 2.14 | 2.20 | 0.08 | — | — | 0.08 | — | — | 9.68 | 29.22 | 1.83 | † | 1.70 | † | 1.70 | † | 0.86 | † | 15,615 | 44 | ||||||||||||||||||||||||||||||||||||||||||||||||||
10-31-08 | 14.89 | 0.06 | (5.31 | ) | (5.25 | ) | 0.10 | 1.98 | — | 2.08 | — | — | 7.56 | (40.21 | ) | 1.62 | † | 1.65 | † | 1.64 | † | 0.52 | † | 8,940 | 73 | |||||||||||||||||||||||||||||||||||||||||||||||
10-31-07 | 12.42 | 0.10 | • | 2.65 | 2.75 | 0.07 | 0.21 | — | 0.28 | — | — | 14.89 | 22.48 | 1.63 | 1.70 | 1.70 | 0.77 | 16,598 | 88 | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Class B | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
10-31-11 | 10.77 | 0.08 | • | (0.90 | ) | (0.82 | ) | — | — | — | — | — | — | 9.95 | (7.61 | ) | 2.57 | † | 2.35 | † | 2.35 | † | 0.58 | † | 481 | 48 | ||||||||||||||||||||||||||||||||||||||||||||||
10-31-10 | 9.53 | 0.01 | • | 1.24 | 1.25 | 0.01 | — | — | 0.01 | — | — | 10.77 | 13.11 | 2.53 | † | 2.45 | † | 2.45 | † | 0.09 | † | 1,160 | 43 | |||||||||||||||||||||||||||||||||||||||||||||||||
10-31-09 | 7.44 | 0.02 | • | 2.07 | 2.09 | 0.00 | * | — | — | 0.00 | * | — | — | 9.53 | 28.13 | 2.58 | † | 2.45 | † | 2.45 | † | 0.18 | † | 1,786 | 44 | |||||||||||||||||||||||||||||||||||||||||||||||
10-31-08 | 14.67 | (0.03 | )• | (5.22 | ) | (5.25 | ) | 0.00 | * | 1.98 | — | 1.98 | — | — | 7.44 | (40.63 | ) | 2.37 | † | 2.40 | † | 2.39 | † | (0.27 | )† | 1,738 | 73 | |||||||||||||||||||||||||||||||||||||||||||||
10-31-07 | 12.27 | 0.00 | *• | 2.61 | 2.61 | — | 0.21 | — | 0.21 | — | — | 14.67 | 21.54 | 2.38 | 2.45 | 2.45 | 0.01 | 3,805 | 88 | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Class C | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
10-31-11 | 10.80 | 0.09 | (0.90 | ) | (0.81 | ) | 0.03 | — | — | 0.03 | — | — | 9.96 | (7.55 | ) | 2.57 | † | 2.35 | † | 2.35 | † | 0.69 | † | 4,449 | 48 | |||||||||||||||||||||||||||||||||||||||||||||||
10-31-10 | 9.56 | 0.01 | • | 1.24 | 1.25 | 0.01 | — | — | 0.01 | — | — | 10.80 | 13.07 | 2.53 | † | 2.45 | † | 2.45 | † | 0.06 | † | 5,195 | 43 | |||||||||||||||||||||||||||||||||||||||||||||||||
10-31-09 | 7.46 | 0.01 | • | 2.09 | 2.10 | 0.00 | * | — | — | 0.00 | * | — | — | 9.56 | 28.19 | 2.58 | † | 2.45 | † | 2.45 | † | 0.14 | † | 4,091 | 44 | |||||||||||||||||||||||||||||||||||||||||||||||
10-31-08 | 14.70 | (0.03 | )• | (5.23 | ) | (5.26 | ) | — | 1.98 | — | 1.98 | — | — | 7.46 | (40.62 | ) | 2.37 | † | 2.40 | † | 2.39 | † | (0.25 | )† | 2,267 | 73 | ||||||||||||||||||||||||||||||||||||||||||||||
10-31-07 | 12.29 | 0.00 | * | 2.62 | 2.62 | — | 0.21 | — | 0.21 | — | — | 14.70 | 21.58 | 2.38 | 2.45 | 2.45 | 0.00 | * | 4,930 | 88 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Class I | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
10-31-11 | 10.96 | 0.23 | • | (0.93 | ) | (0.70 | ) | 0.12 | — | — | 0.12 | — | — | 10.14 | (6.50 | ) | 1.38 | † | 1.28 | † | 1.28 | † | 1.82 | † | 3,892 | 48 | ||||||||||||||||||||||||||||||||||||||||||||||
10-31-10 | 9.67 | 0.12 | • | 1.25 | 1.37 | 0.08 | — | — | 0.08 | — | — | 10.96 | 14.26 | 1.35 | † | 1.35 | † | 1.35 | † | 1.24 | † | 17,722 | 43 | |||||||||||||||||||||||||||||||||||||||||||||||||
10-31-09 | 7.57 | 0.10 | • | 2.12 | 2.22 | 0.12 | — | — | 0.12 | — | — | 9.67 | 29.58 | 1.39 | † | 1.39 | † | 1.39 | † | 1.19 | † | 27,654 | 44 | |||||||||||||||||||||||||||||||||||||||||||||||||
10-31-08 | 14.92 | 0.09 | (5.30 | ) | (5.21 | ) | 0.16 | 1.98 | — | 2.14 | — | — | 7.57 | (39.96 | ) | 1.27 | † | 1.30 | † | 1.29 | † | 0.80 | † | 36,089 | 73 | |||||||||||||||||||||||||||||||||||||||||||||||
10-31-07 | 12.42 | 0.17 | • | 2.64 | 2.81 | 0.10 | 0.21 | — | 0.31 | — | — | 14.92 | 23.04 | 1.24 | 1.31 | 1.31 | 1.29 | 60,413 | 88 | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Class W | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
10-31-11 | 10.97 | 0.22 | (0.94 | ) | (0.72 | ) | 0.11 | — | — | 0.11 | — | — | 10.14 | (6.62 | ) | 1.57 | † | 1.35 | † | 1.35 | † | 2.06 | † | 63 | 48 | |||||||||||||||||||||||||||||||||||||||||||||||
10-31-10 | 9.68 | 0.12 | • | 1.25 | 1.37 | 0.08 | — | — | 0.08 | — | — | 10.97 | 14.27 | 1.53 | † | 1.45 | † | 1.45 | † | 1.15 | † | 34 | 43 | |||||||||||||||||||||||||||||||||||||||||||||||||
06-01-09(4)–10-31-09 | 9.18 | 0.01 | • | 0.49 | 0.50 | — | — | — | — | — | — | 9.68 | 5.45 | 1.39 | † | 1.39 | † | 1.39 | † | 0.30 | † | 3 | 44 | |||||||||||||||||||||||||||||||||||||||||||||||||
ING International Value Fund | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Class A | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
10-31-11 | 11.78 | 0.20 | • | (1.16 | ) | (0.96 | ) | 0.23 | — | — | 0.23 | 0.00 | * | — | 10.59 | (8.33 | )(h) | 1.65 | † | 1.64 | † | 1.64 | † | 1.68 | † | 306,024 | 116 | |||||||||||||||||||||||||||||||||||||||||||||
10-31-10 | 11.30 | 0.18 | • | 0.45 | 0.63 | 0.17 | — | — | 0.17 | 0.02 | — | 11.78 | 5.78 | (i) | 1.62 | † | 1.62 | † | 1.62 | † | 1.63 | † | 549,016 | 81 | ||||||||||||||||||||||||||||||||||||||||||||||||
10-31-09 | 11.13 | 0.14 | 1.88 | 2.02 | 0.35 | 1.51 | — | 1.86 | 0.01 | — | 11.30 | 21.74 | (j) | 1.75 | † | 1.75 | † | 1.75 | † | 1.25 | † | 725,329 | 92 | |||||||||||||||||||||||||||||||||||||||||||||||||
10-31-08 | 23.15 | 0.39 | (8.83 | ) | (8.44 | ) | 0.23 | 3.35 | — | 3.58 | — | — | 11.13 | (42.58 | ) | 1.58 | † | 1.58 | † | 1.57 | † | 1.95 | † | 931,162 | 23 | |||||||||||||||||||||||||||||||||||||||||||||||
10-31-07 | 21.52 | 0.24 | • | 3.73 | 3.97 | 0.20 | 2.14 | — | 2.34 | — | — | 23.15 | 19.87 | 1.59 | 1.59 | 1.59 | 1.08 | 2,136,218 | 32 | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Class B | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
10-31-11 | 11.66 | 0.11 | • | (1.16 | ) | (1.05 | ) | 0.00 | * | — | — | 0.00 | * | 0.00 | * | — | 10.61 | (9.00 | )(h) | 2.35 | † | 2.34 | † | 2.34 | † | 0.94 | † | 1,430 | 116 | |||||||||||||||||||||||||||||||||||||||||||
10-31-10 | 11.14 | 0.11 | • | 0.43 | 0.54 | 0.04 | — | — | 0.04 | 0.02 | — | 11.66 | 5.07 | (i) | 2.32 | † | 2.32 | † | 2.32 | † | 0.96 | † | 3,132 | 81 | ||||||||||||||||||||||||||||||||||||||||||||||||
10-31-09 | 10.88 | 0.06 | • | 1.87 | 1.93 | 0.17 | 1.51 | — | 1.68 | 0.01 | — | 11.14 | 20.91 | (j) | 2.45 | † | 2.45 | † | 2.45 | † | 0.65 | † | 37,743 | 92 | ||||||||||||||||||||||||||||||||||||||||||||||||
10-31-08 | 22.64 | 0.19 | • | (8.58 | ) | (8.39 | ) | 0.02 | 3.35 | — | 3.37 | — | — | 10.88 | (43.00 | ) | 2.28 | † | 2.28 | † | 2.27 | † | 1.12 | † | 85,873 | 23 | ||||||||||||||||||||||||||||||||||||||||||||||
10-31-07 | 21.07 | 0.08 | • | 3.66 | 3.74 | 0.03 | 2.14 | — | 2.17 | — | — | 22.64 | 19.03 | 2.29 | 2.29 | 2.29 | 0.39 | 301,705 | 32 |
Income (loss) from investment operations | | Less distributions | | Ratios to average net assets | Supplemental data | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Net asset value, beginning of year or period | | Net investment income (loss) | | Net realized and unrealized gain (loss) | | Total from investment operations | | From net investment income | | From net realized gains | | From return of capital | | Total distributions | | Payments from Distribution settlement/ affiliate | | Redemption fees applied to capital | | Net asset value, end of year or period | | Total Return (1) | | Expenses before reductions/ additions (2) | | Expenses net of fee waivers and/or recoupments, if any (2)(3) | | Expenses net of all reductions/ additions (2)(3) | | Net investment income (loss) (2)(3) | | Net assets, end of year or period | | Portfolio turnover rate | ||||||||||||||||||||||||||||||||||||||
Year or period ended | ($) | | ($) | | ($) | | ($) | | ($) | | ($) | | ($) | | ($) | | ($) | | ($) | | ($) | | (%) | | (%) | | (%) | | (%) | | (%) | | ($000’s) | | (%) | |||||||||||||||||||||||||||||||||||||
ING International Value Fund (continued) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Class C | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
10-31-11 | 11.40 | 0.11 | • | (1.12 | ) | (1.01 | ) | 0.16 | — | — | 0.16 | 0.00 | * | — | 10.23 | (8.98 | )(h) | 2.35 | † | 2.34 | † | 2.34 | † | 0.98 | † | 137,199 | 116 | |||||||||||||||||||||||||||||||||||||||||||||
10-31-10 | 10.95 | 0.11 | • | 0.43 | 0.54 | 0.11 | — | — | 0.11 | 0.02 | — | 11.40 | 5.07 | (i) | 2.32 | † | 2.26 | † | 2.26 | † | 0.99 | † | 210,574 | 81 | ||||||||||||||||||||||||||||||||||||||||||||||||
10-31-09 | 10.79 | 0.05 | • | 1.85 | 1.90 | 0.24 | 1.51 | — | 1.75 | 0.01 | — | 10.95 | 20.92 | (j) | 2.45 | † | 2.40 | † | 2.40 | † | 0.58 | † | 279,060 | 92 | ||||||||||||||||||||||||||||||||||||||||||||||||
10-31-08 | 22.52 | 0.27 | (8.57 | ) | (8.30 | ) | 0.08 | 3.35 | — | 3.43 | — | — | 10.79 | (42.94 | ) | 2.28 | † | 2.18 | † | 2.17 | † | 1.34 | † | 326,812 | 23 | |||||||||||||||||||||||||||||||||||||||||||||||
10-31-07 | 20.98 | 0.08 | • | 3.65 | 3.73 | 0.05 | 2.14 | — | 2.19 | — | — | 22.52 | 19.10 | 2.29 | 2.28 | 2.28 | 0.38 | 757,941 | 32 | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Class I | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
10-31-11 | 11.77 | 0.23 | • | (1.16 | ) | (0.93 | ) | 0.26 | — | — | 0.26 | 0.00 | * | — | 10.58 | (8.04 | )(h) | 1.29 | † | 1.28 | † | 1.28 | † | 1.97 | † | 258,683 | 116 | |||||||||||||||||||||||||||||||||||||||||||||
10-31-10 | 11.30 | 0.23 | • | 0.44 | 0.67 | 0.22 | — | — | 0.22 | 0.02 | — | 11.77 | 6.15 | (i) | 1.27 | † | 1.27 | † | 1.27 | † | 2.02 | † | 449,321 | 81 | ||||||||||||||||||||||||||||||||||||||||||||||||
10-31-09 | 11.16 | 0.16 | • | 1.90 | 2.06 | 0.42 | 1.51 | — | 1.93 | 0.01 | — | 11.30 | 22.23 | (j) | 1.33 | † | 1.33 | † | 1.33 | † | 1.65 | † | 607,517 | 92 | ||||||||||||||||||||||||||||||||||||||||||||||||
10-31-08 | 23.22 | 0.47 | (8.87 | ) | (8.40 | ) | 0.31 | 3.35 | — | 3.66 | — | — | 11.16 | (42.37 | ) | 1.28 | † | 1.28 | † | 1.27 | † | 2.23 | † | 735,622 | 23 | |||||||||||||||||||||||||||||||||||||||||||||||
10-31-07 | 21.58 | 0.32 | • | 3.74 | 4.06 | 0.28 | 2.14 | — | 2.42 | — | — | 23.22 | 20.31 | 1.23 | 1.23 | 1.23 | 1.45 | 2,176,402 | 32 | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Class W | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
10-31-11 | 11.76 | 0.08 | • | (1.01 | ) | (0.93 | ) | 0.26 | — | — | 0.26 | 0.00 | * | — | 10.57 | (8.06 | )(h) | 1.35 | † | 1.34 | † | 1.34 | † | 0.70 | † | 445 | 116 | |||||||||||||||||||||||||||||||||||||||||||||
10-31-10 | 11.30 | 0.22 | 0.44 | 0.66 | 0.22 | — | — | 0.22 | 0.02 | — | 11.76 | 6.04 | (i) | 1.32 | † | 1.32 | † | 1.32 | † | 1.99 | † | 24,507 | 81 | |||||||||||||||||||||||||||||||||||||||||||||||||
07-20-09(4)–10-31-09 | 10.42 | 0.01 | • | 0.87 | 0.88 | — | — | — | — | — | — | 11.30 | 8.45 | (j) | 1.33 | † | 1.33 | † | 1.33 | † | 0.20 | † | 3 | 92 | ||||||||||||||||||||||||||||||||||||||||||||||||
ING Russia Fund | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Class A | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
10-31-11 | 36.52 | (0.12 | )• | (2.88 | ) | (3.00 | ) | — | — | — | — | — | — | 33.52 | (8.21 | ) | 2.03 | 2.03 | 2.03 | (0.29 | ) | 317,715 | 31 | |||||||||||||||||||||||||||||||||||||||||||||||||
10-31-10 | 29.53 | (0.33 | )• | 7.32 | 6.99 | — | — | — | — | — | — | 36.52 | 23.67 | 2.11 | 2.11 | 2.11 | (0.98 | ) | 418,162 | 30 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
10-31-09 | 25.60 | (0.19 | ) | 12.20 | 12.01 | — | 8.08 | — | 8.08 | — | — | 29.53 | 65.55 | 2.21 | 2.21 | �� | 2.21 | (0.98 | ) | 373,249 | 46 | |||||||||||||||||||||||||||||||||||||||||||||||||||
10-31-08 | 78.13 | (0.48 | ) | (40.46 | ) | (40.94 | ) | — | 11.59 | — | 11.59 | — | 0.00 | 25.60 | (61.70 | ) | 2.06 | 2.06 | 2.06 | (0.60 | ) | 261,127 | 43 | |||||||||||||||||||||||||||||||||||||||||||||||||
10-31-07 | 55.81 | (0.33 | )• | 25.77 | 25.44 | — | 3.12 | — | 3.12 | — | 0.00 | 78.13 | 47.16 | 1.96 | 1.96 | 1.96 | (0.52 | ) | 922,504 | 12 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Class I | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
10-31-11 | 36.64 | (0.02 | ) | (2.83 | ) | (2.85 | ) | — | — | — | — | — | — | 33.79 | (7.78 | ) | 1.73 | 1.73 | 1.73 | (0.04 | ) | 10,528 | 31 | |||||||||||||||||||||||||||||||||||||||||||||||||
10-31-10 | 29.54 | (0.10 | ) | 7.20 | 7.10 | — | — | — | — | — | — | 36.64 | 24.04 | 1.71 | 1.71 | 1.71 | (0.38 | ) | 8,151 | 30 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
09-30-09(4)–10-31-09 | 28.27 | (0.04 | )• | 1.31 | 1.27 | — | — | — | — | — | — | 29.54 | 4.49 | 1.68 | 1.68 | 1.68 | (1.68 | ) | 3 | 46 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Class W | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
08-05-11(4)–10-31-11 | 39.53 | (0.03 | ) | (5.76 | ) | (5.79 | ) | — | — | — | — | — | — | 33.74 | (14.65 | ) | 1.78 | 1.78 | 1.78 | (0.41 | ) | 3 | 31 |
(1) | Total return is calculated assuming reinvestment of all dividends, capital gain distributions and return of capital distributions, if any, at net asset value and excluding the deduction of sales charges. Total return for periods less than one year is not annualized. |
(2) | Annualized for periods less than one year. |
(3) | Expense ratios reflect operating expenses of a Fund. Expenses before reductions/additions do not reflect amounts reimbursed by the Investment Adviser and/or Distributor or reductions from brokerage service arrangements or other expense offset arrangements and do not represent the amount paid by a Fund during periods when reimbursements or reductions occur. Expenses net of fee waivers reflect expenses after reimbursement by an Investment Adviser and/or Distributor but prior to reductions from brokerage service arrangements or other expense offset arrangements. Expenses net of all reductions/additions represent the net expenses paid by a Fund. Net investment income (loss) is net of all such additions or reductions. |
(4) | Commencement of operations. |
(5) | Class W shares’ financial highlights include Class Q shares which were converted to Class W on March 5, 2010. Class W shares will retain the commencement of operations date of August 7, 2009 which represents the original commencement of operations date of Class Q shares. |
(a) | Excluding a payment by affiliate in the fiscal year ended October 31, 2009, Emerging Countries total return would have been 50.54%, 49.21%, 49.19%, 51.26% and 51.22% on Classes A,B,C,I and W, respectively. |
(b) | Excluding a payment from distribution settlement in the fiscal year ended October 31, 2010, Global Value Choice total return would have been 21.82%, 20.92%, 20.89%, 22.34% and 22.08% on Classes A,B,C,I and W, respectively. |
(c) | There was no impact on total return by the payment from distribution settlement. |
(d) | Excluding a payment by affiliate in the fiscal year ended October 31, 2009, Index Plus International Equity total return would have been 26.91%, 25.92%, 25.96%, 27.32% and 27.11% on Classes A, B, C, I and O, respectively. |
(e) | Excluding a payment from distribution settlement in the fiscal year ended October 31, 2011, International SmallCap Multi-Manager total return would have been (5.45)%, (6.09)%, (6.06)%, (5.01)%, (5.36)% and (5.12)% on Classes A,B,C,I, O and W, respectively. |
(f) | Excluding a payment from distribution settlement in the fiscal year ended October 31, 2010, International SmallCap Multi Manager total return would have been 20.60%, 19.82%, 19.80%, 21.20%, 20.70% and 20.98% on Classes A,B,C,I,O and W, respectively. |
(g) | Excluding a payment by affiliate in the fiscal year ended October 31, 2009, International SmallCap Multi-Manager total return would have been 41.91%, |
40.78%, 40.97%, 42.75%, 42.20% and 42.70% on Classes A,B,C,I,O and W, respectively. |
(h) | Excluding a payment from distribution settlement in the fiscal year ended October 31, 2011, International Value total return would have been (8.34)%, (9.02)%, (9.00)%, (8.05)% and (8.07)% on Classes A,B,C,I and W, respectively. |
(i) | Excluding a payment from distribution settlement in the fiscal year ended October 31, 2010, International Value total return would have been 5.61%, 4.90%, 4.90%, 5.98% and 5.87% on Classes A,B,C,I, and W, respectively. |
(j) | Excluding a payment by affiliate in the fiscal year ended October 31, 2009, International Value total return would have been 21.64%, 20.80%, 20.81% and 22.12% on Classes A,B,C and I, respectively. |
• | Calculated using average number of shares outstanding throughout the period. |
* | Amount is less than $0.005 or 0.005% or more than $(0.005) or (0.005)%. |
† | Impact of waiving the advisory fee for the ING Institutional Prime Money Market Fund holding has less than 0.005% impact on the expense ratio and net investment income or loss ratio. |
market makers or estimates of fair value obtained from yield data relating to investments or securities with similar characteristics. Investments in open-end mutual funds are valued at the net asset value. Investments in securities of sufficient credit quality, maturing 60 days or less from date of acquisition are valued at amortized cost which approximates fair value.
assets of the Underlying Funds are valued based on actual or estimated market value, with special provisions for assets not having readily available market quotations and short-term debt securities, and for situations where market quotations are deemed unreliable. Investments held in Underlying Funds maturing in 60 days or less from the date of acquisition are valued at amortized cost which generally approximates fair value. Securities prices may be obtained from automated pricing services. Shares of investment companies held by the Underlying Funds will generally be valued at the latest NAV reported by that investment company.
(1) | Market value of investment securities, other assets and liabilities — at the exchange rates prevailing at the end of the day. |
(2) | Purchases and sales of investment securities, income and expenses — at the rates of exchange prevailing on the respective dates of such transactions. |
risks not typically associated with investing in U.S. companies and U.S. government securities. These risks include, but are not limited to, revaluation of currencies and future adverse political and economic developments which could cause securities and their markets to be less liquid, and prices more volatile than those of comparable U.S. companies and U.S. government securities. The foregoing risks are even greater with respect to securities of issuers in emerging markets.
The Funds intend to enter into financial transactions with counterparties that they believe to be creditworthy at the time of the transaction. To reduce this risk, the Funds generally enter into master netting arrangements, established within the Funds International Swap and Derivatives Association, Inc. (“ISDA”) Master Agreements (“Master Agreements”). These agreements are with select counterparties and they govern transactions, including certain over-the-counter (“OTC”) derivative and forward foreign currency contracts, entered into by the Funds and the counterparty. The Master Agreements maintain provisions for general obligations, representations, agreements, collateral, and events of default or termination. The occurrence of a specified event of termination may give a counterparty the right to terminate all of its contracts and affect settlement of all outstanding transactions under the applicable Master Agreement.
International Value had average contract amounts on forward foreign currency contracts to buy of $343,079, $14,520, $53,040, $299,487, and $98,757, respectively. In addition to the above, Global Value Choice, Index Plus International Equity, International Core, International Growth, International SmallCap Multi-Manager and International Value had average contract amounts on forward foreign currency contract to sell of $6,388, $360,353, $4,697,902, $23,065, $16,495, and $19,284, respectively. The above Funds used forward foreign currency contracts primarily to protect their non-U.S. dollar denominated holdings from adverse currency movements. Please refer to the tables following each respective Summary Portfolio of Investments for open forward foreign currency contracts at October 31, 2011.
over whether the underlying instrument may be sold (call) or purchased (put) and as a result bears the market risk of an unfavorable change in the price of the instrument underlying the written option. There is the risk the Funds may not be able to enter into a closing transaction because of an illiquid market.
stream based on the notional amount of the swap contract. This fixed payment stream will continue until the swap contract expires or a defined credit event occurs.
flow stream will typically be a floating rate payment based upon a specified interest rate while the other is typically a fixed interest rate.
dispose of the collateral. Each Fund and Underlying Fund bears the risk of loss with respect to the investment of collateral. Engaging in securities lending could have a leveraging effect, which may intensify the credit, market and other risks associated with investing in a Fund or Underlying Fund.
Purchases | Sales | |||||||||
---|---|---|---|---|---|---|---|---|---|---|
Diversified International | $ | 186,537,072 | $ | 241,428,685 | ||||||
Emerging Countries | 138,327,828 | 202,701,339 | ||||||||
Emerging Markets Equity | 77,326,047 | 1,178,873 | ||||||||
Global Bond | 919,815,469 | 852,991,078 | ||||||||
Global Equity Dividend | 86,443,711 | 148,866,804 | ||||||||
Global Natural Resources | 90,814,249 | 88,503,492 | ||||||||
Global Opportunities | 62,866,210 | 118,183,996 | ||||||||
Global Real Estate | 1,865,336,394 | 1,226,904,074 | ||||||||
Global Value Choice | 597,140,551 | 408,163,300 | ||||||||
Greater China | 53,699,259 | 59,698,855 | ||||||||
Index Plus International Equity | 148,550,119 | 189,254,552 | ||||||||
International Capital Appreciation | 37,655,711 | 102,990,255 | ||||||||
International Core | 554,486,333 | 176,249,943 | ||||||||
International Growth | 214,680,027 | 52,251,638 | ||||||||
International Real Estate | 388,744,383 | 503,239,088 | ||||||||
International SmallCap Multi-Manager | 153,231,352 | 260,830,282 | ||||||||
International Value Choice | 22,302,057 | 34,010,300 | ||||||||
International Value | 1,141,152,040 | 1,562,185,590 | ||||||||
Russia | 133,526,173 | 195,689,165 |
Purchases | Sales | |||||||||
---|---|---|---|---|---|---|---|---|---|---|
Global Bond | $ | 1,562,400,243 | $ | 1,558,110,226 |
As a Percentage of Average Daily Net Assets | ||||||
---|---|---|---|---|---|---|
Diversified International | 0.00% | |||||
Emerging Countries(1) | 1.00% |
As a Percentage of Average Daily Net Assets | ||||||
---|---|---|---|---|---|---|
Emerging Markets Equity | 1.00% | |||||
Global Bond | 0.40% | |||||
Global Equity Dividend | 0.70% | |||||
Global Natural Resources | 1.00% on first $50 million; and 0.75% thereafter | |||||
Global Opportunities | 0.90% on the first $500 million; and 0.85% thereafter | |||||
Global Real Estate | 0.80% on the first $250 million; 0.775% on the next $250 million; and 0.70% thereafter | |||||
Global Value Choice | 0.90% on the first $500 million; 0.80% on the next $500 million; and 0.75% thereafter | |||||
Greater China | 1.15% on the first $100 million; 1.05% on the next $150 million; and 0.95% thereafter | |||||
Index Plus International Equity | 0.55% | |||||
International Capital Appreciation(2) | 0.85% on the first $500 million; 0.80% on the next $500 million; and 0.75% thereafter | |||||
International Core | 0.75% | |||||
International Growth | 0.75% | |||||
International Real Estate | 1.00% on the first $250 million; 0.90% on the next $250 million; and 0.80% thereafter | |||||
International SmallCap Multi-Manager(2) | 1.00% on first $500 million; 0.90% on next $500 million; and 0.85% thereafter | |||||
International Value Choice(4) | 1.00% | |||||
International Value(2),(3) | 1.00% on the first $1.5 billion; 0.70% on the next $750 million; and 0.65% thereafter (applied to all assets of the Fund) | |||||
Russia | 1.25% |
(1) | Effective January 1, 2011, the advisory fee for Emerging Countries was revised from 1.25% to the fee set forth in the table above and the sharing waiver was eliminated. |
(2) | ING Investments has contractually agreed to waive a portion of the advisory fee for International Capital Appreciation, International SmallCap Multi-Manager and International Value. These advisory fee waivers will continue through at least March 1, 2012 for International Capital Appreciation, International SmallCap Multi-Manager and International Value. There is no guarantee that these waivers will continue after this date. These agreements will only renew if ING Investments elects to renew them. |
(3) | Effective February 1, 2011, the advisory fees for International Value were revised from 1.00% on the first $5 billion; 0.95% on the next $2.5 billion; 0.90% on the next $2.5 billion and 0.85% of assets in excess of $10 billion to the fees set forth in the table above. |
(4) | Pursuant to a side agreement, ING Investments has agreed to waive 0.10% of the advisory fee for International Value Choice through March 1, 2012 for the Fund. There is no guarantee that this waiver will continue after that date. The waiver agreement will only renew if ING Investments elects to renew it. |
Fund | Sub Adviser | |||||
---|---|---|---|---|---|---|
Emerging Countries | ING Investment Management Advisors B.V* | |||||
Emerging Markets Equity | J.P. Morgan Investment Management Inc. and Delaware Management Company | |||||
Global Bond | ING Investment Management Co.* | |||||
Global Equity Dividend | ING Investment Management Advisors B.V* | |||||
Global Natural Resources | ING Investment Management Co.* | |||||
Global Opportunities | ING Investment Management Advisors B.V.* | |||||
Global Real Estate | CBRE Clarion Securities LLC | |||||
Global Value Choice | Tradewinds Global Investors, LLC | |||||
Greater China | ING Investment Management Asia/Pacific (Hong Kong) Limited* | |||||
Index Plus International Equity | ING Investment Management Co.* | |||||
International Capital Appreciation | Hansberger Global Investors, Inc. | |||||
International Core | Thornburg Investment Management, Inc. and Wellington Management Company, LLP | |||||
International Growth | Baillie Gifford Overseas Limited and T. Rowe Price Associates, Inc. | |||||
International Real Estate | CBRE Clarion Securities LLC | |||||
International SmallCap Multi-Manager | Acadian Asset Management LLC and Schroder Investment Management North America Inc. | |||||
International Value Choice | Tradewinds Global Investors, LLC | |||||
International Value | Brandes Investment Partners, L.P., del Rey Global Investors, LLC and ING Investment Management Co.* | |||||
Russia | ING Investment Management Advisors B.V* |
an Investment Committee made up of a team of professionals to consider, review and implement the recommendations of the Consultant, and retains discretion over implementation of the Consultant’s recommendations. The Consultant provides ongoing recommendations to the Investment Committee of the Investment Adviser quarterly or as warranted by market conditions.
Global Bond | $ | 762 | ||||
Global Natural Resources | 247 | |||||
Global Real Estate | 4,788 | |||||
Global Value Choice | 999 | |||||
Index Plus International Equity | 47 | |||||
International SmallCap Multi-Manager | 217 | |||||
International Value Choice | 94 | |||||
International Value | 1,185 |
Class A | Class B | Class C | Class O | Class R | ||||||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Diversified International | 0.25 | % | 1.00 | % | 1.00 | % | 0.25 | % | 0.50 | % | ||||||||||||
Emerging Countries | 0.35 | %(1) | 1.00 | % | 1.00 | % | N/A | N/A | ||||||||||||||
Emerging Markets Equity | 0.25 | % | N/A | 1.00 | % | N/A | 0.50 | % | ||||||||||||||
Global Bond | 0.25 | % | 1.00 | % | 1.00 | % | 0.25 | % | 0.50 | % | ||||||||||||
Global Equity Dividend | 0.25 | % | 1.00 | % | 1.00 | % | 0.25 | % | N/A | |||||||||||||
Global Natural Resources | 0.25 | % | N/A | N/A | N/A | N/A | ||||||||||||||||
Global Opportunities | 0.25 | % | 1.00 | % | 1.00 | % | N/A | N/A | ||||||||||||||
Global Real Estate | 0.25 | % | 1.00 | % | 1.00 | % | 0.25 | % | 0.50 | % | ||||||||||||
Global Value Choice | 0.25 | % | 1.00 | % | 1.00 | % | N/A | N/A | ||||||||||||||
Greater China | 0.25 | % | 1.00 | % | 1.00 | % | 0.25 | % | N/A | |||||||||||||
Index Plus International Equity | 0.25 | % | 1.00 | % | 1.00 | % | 0.25 | % | N/A | |||||||||||||
International Capital Appreciation | 0.25 | % | 1.00 | % | 1.00 | % | N/A | N/A | ||||||||||||||
International Real Estate | 0.25 | % | 1.00 | % | 1.00 | % | N/A | N/A | ||||||||||||||
International SmallCap Multi-Manager | 0.35 | % | 1.00 | % | 1.00 | % | 0.25 | % | N/A | |||||||||||||
International Value Choice | 0.25 | % | 1.00 | % | 1.00 | % | N/A | N/A | ||||||||||||||
International Value | 0.30 | % | 1.00 | % | 1.00 | % | N/A | N/A | ||||||||||||||
Russia | 0.25 | % | N/A | N/A | N/A | N/A |
(1) | The Distributor has agreed to waive 0.10% of the Distribution Fee for Class A shares of Emerging Countries through March 1, 2012. For the one year ended October 31, 2011, the Distributor waived $75,931 for Class A shares of Emerging Countries. |
Class A Shares | Class C Shares | ||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|
Initial Sales Charges: | |||||||||||
Diversified International | $ | 4,341 | N/A | ||||||||
Emerging Countries | 7,868 | N/A | |||||||||
Emerging Markets Equity | 32 | N/A | |||||||||
Global Bond | 37,274 | N/A | |||||||||
Global Equity Dividend | 6,173 | N/A | |||||||||
Global Natural Resources | 50,050 | N/A | |||||||||
Global Opportunities | 1,690 | N/A | |||||||||
Global Real Estate | 146,459 | N/A | |||||||||
Global Value Choice | 133,135 | N/A | |||||||||
Greater China | 10,798 | N/A | |||||||||
Index Plus International Equity | 755 | N/A | |||||||||
International Capital Appreciation | 1,225 | N/A | |||||||||
International Real Estate | 10,318 | N/A | |||||||||
International SmallCap Multi-Manager | 2,831 | N/A | |||||||||
International Value Choice | 2,633 | N/A | |||||||||
International Value | 2,709 | N/A | |||||||||
Russia | 142,254 | N/A | |||||||||
Contingent Deferred Sales Charges: | |||||||||||
Diversified International | 61 | $ | 1,684 | ||||||||
Emerging Countries | 4 | 304 | |||||||||
Global Bond | 1 | 10,907 | |||||||||
Global Equity Dividend | — | 647 | |||||||||
Global Opportunities | 520 | 601 | |||||||||
Global Real Estate | 1,332 | 12,090 | |||||||||
Global Value Choice | 525 | 4,575 | |||||||||
Greater China | — | 313 | |||||||||
Index Plus International Equity | — | 4 | |||||||||
International Capital Appreciation | 178 | 244 | |||||||||
International Real Estate | 253 | 870 | |||||||||
International SmallCap Multi-Manager | — | 642 | |||||||||
International Value Choice | — | 84 | |||||||||
International Value | 1,492 | 1,076 | |||||||||
Russia | 553 | — |
Fund | Accrued Unified/ Investment Management Fees | Accrued Administrative Fees | Accrued Shareholder Service and Distribution Fees | Total | ||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Diversified International | $ | 107,515 | $ | 10,561 | $ | 53,956 | $ | 172,032 | ||||||||||
Emerging Countries | 79,544 | 7,955 | 22,471 | 109,970 | ||||||||||||||
Emerging Markets Equity | 46,471 | 4,647 | 4 | 51,122 | ||||||||||||||
Global Bond | 208,906 | 52,226 | 131,288 | 392,420 | ||||||||||||||
Global Equity Dividend | 58,700 | 6,668 | 33,259 | 98,627 | ||||||||||||||
Global Natural Resources | 78,434 | 9,042 | 21,255 | 108,731 |
Fund | Accrued Unified/ Investment Management Fees | Accrued Administrative Fees | Accrued Shareholder Service and Distribution Fees | Total | ||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Global Opportunities | $ | 85,550 | $ | 5,502 | $ | 31,616 | $ | 122,668 | ||||||||||
Global Real Estate | 1,985,777 | 278,371 | 428,694 | 2,692,842 | ||||||||||||||
Global Value Choice | 469,198 | 53,341 | 165,560 | 688,099 | ||||||||||||||
Greater China | 54,597 | 2,685 | 9,906 | 67,188 | ||||||||||||||
Index Plus International Equity | 43,101 | 7,836 | 10,689 | 61,626 | ||||||||||||||
International Capital Appreciation | 25,812 | 3,036 | 8,999 | 37,847 | ||||||||||||||
International Core | 215,305 | 28,707 | — | 244,012 | ||||||||||||||
International Growth | 93,607 | 12,481 | — | 106,088 | ||||||||||||||
International Real Estate | 373,572 | 39,148 | 56,361 | 469,081 | ||||||||||||||
International SmallCap Multi-Manager | 256,353 | 25,635 | 51,106 | 333,094 | ||||||||||||||
International Value Choice | 23,434 | 2,604 | 8,591 | 34,629 | ||||||||||||||
International Value | 608,511 | 60,851 | 193,511 | 862,873 | ||||||||||||||
Russia | 320,873 | 25,670 | 62,059 | 408,602 |
ING Portfolios or Subsidiaries | Fund | Percentage | ||||||||
---|---|---|---|---|---|---|---|---|---|---|
ING Capital Allocation Fund | Index Plus International Equity | 29.54 | % | |||||||
ING Direct Investing Inc. | Global Equity Dividend | 16.09 | % | |||||||
Greater China | 13.83 | % | ||||||||
Index Plus International Equity | 39.47 | % | ||||||||
Diversified International | International Core | 11.10 | % | |||||||
International Growth | 17.14 | % | ||||||||
ING Global Target Payment Fund | Index Plus International Equity | 16.72 | % | |||||||
ING Life Insurance & Annuity Company | International Smallcap Multi Manager | 7.81 | % | |||||||
ING National Trust | International Capital Appreciation | 18.71 | % | |||||||
International Value | 12.01 | % | ||||||||
ING Solution 2015 Portfolio | Global Bond | 6.11 | % | |||||||
International Core | 10.63 | % | ||||||||
International Growth | 9.87 | % | ||||||||
ING Solution 2025 Portfolio | Global Bond | 9.81 | % | |||||||
International Core | 27.33 | % | ||||||||
International Growth | 23.78 | % | ||||||||
ING Solution 2035 Portfolio | International Core | 29.13 | % | |||||||
International Growth | 27.03 | % | ||||||||
ING Solution 2045 Portfolio | International Core | 18.78 | % | |||||||
International Growth | 17.44 | % | ||||||||
Reliastar Life Insurance Company | Emerging Markets Equity | 41.85 | % | |||||||
Reliance Trust Company | Emerging Countries | 6.82 | % | |||||||
International Capital Appreciation | 12.88 | % |
Fund | Accrued Expenses | Amount | ||||||||
---|---|---|---|---|---|---|---|---|---|---|
International Real Estate | Custody | $ | 94,434 | |||||||
Transfer Agent | 86,311 | |||||||||
International Value Choice | Transfer Agent | 16,535 | ||||||||
Professional | 9,990 | |||||||||
Postage | 11,512 |
Class A | Class B | Class C | Class I | Class O | Class R | Class W | ||||||||||||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Diversified International(1) | 0.50 | % | 1.25 | % | 1.25 | % | 0.25 | % | 0.50 | % | 0.75 | % | 0.25 | % | ||||||||||||||||
Emerging Countries(2) | 2.25 | % | 2.90 | % | 2.90 | % | 1.75 | % | N/A | N/A | 1.90 | % | ||||||||||||||||||
Emerging Markets Equity | 1.60 | % | N/A | 2.35 | % | 1.35% | (8) | N/A | 1.85 | % | 1.35 | % | ||||||||||||||||||
Global Bond | 0.90 | % | 1.65 | % | 1.65 | % | 0.61 | % | 0.90 | % | 1.15 | % | 0.65 | % | ||||||||||||||||
Global Equity Dividend | 1.40 | % | 2.15 | % | 2.15 | % | 1.15 | % | 1.40 | % | N/A | 1.15 | % | |||||||||||||||||
Global Natural Resources(3) | 2.00 | % | N/A | N/A | 1.75 | % | N/A | N/A | 1.75 | % | ||||||||||||||||||||
Global Opportunities(4) | 1.50 | % | 2.25 | % | 2.25 | % | 1.15 | % | N/A | N/A | 1.25 | % | ||||||||||||||||||
Global Real Estate(5) | 1.75 | % | 2.50 | % | 2.50 | % | 1.50 | % | 1.75 | % | 2.00 | % | 1.50 | % | ||||||||||||||||
Global Value Choice | 1.50 | % | 2.25 | % | 2.25 | % | 1.25 | % | N/A | N/A | 1.25 | % | ||||||||||||||||||
Greater China(6) | N/A | N/A | N/A | N/A | N/A | N/A | N/A | |||||||||||||||||||||||
Index Plus International Equity | 1.15 | % | 1.90 | % | 1.90 | % | 0.90 | % | 1.15 | % | N/A | 0.90 | % | |||||||||||||||||
International Capital Appreciation | 1.50 | % | 2.25 | % | 2.25 | % | 1.25 | % | N/A | N/A | 1.25 | % | ||||||||||||||||||
International Core | N/A | N/A | N/A | 0.95 | % | N/A | N/A | N/A | ||||||||||||||||||||||
International Growth | N/A | N/A | N/A | 0.99 | % | N/A | N/A | N/A | ||||||||||||||||||||||
International Real Estate | 1.50 | % | 2.25 | % | 2.25 | % | 1.25 | % | N/A | N/A | 1.25 | % | ||||||||||||||||||
International SmallCap Multi-Manager | 1.95 | % | 2.60 | % | 2.60 | % | 1.40 | % | 1.85 | % | N/A | 1.60 | % | |||||||||||||||||
International Value Choice(7) | 1.70 | % | 2.45 | % | 2.45 | % | 1.45 | % | N/A | N/A | 1.45 | % | ||||||||||||||||||
International Value | 1.80 | % | 2.50 | % | 2.50 | % | 1.50 | % | N/A | N/A | 1.50 | % | ||||||||||||||||||
Russia | 2.75 | % | N/A | N/A | 2.50 | % | N/A | N/A | 2.50 | % |
(1) | The operating expense limits for Diversified International set out above apply only at the fund level and do not limit the fees payable by the underlying investment companies in which the fund invests. Including the expenses of the underlying investment companies, the expense limits for Diversified International are 1.65%, 2.40%, 2.40%, 1.40%, 1.65%, 1.90% and 1.40% for Class A, B, C, I, O, R and W shares, respectively. |
(2) | Pursuant to a side agreement, ING Investments has lowered the expense limits for Emerging Countries through at least March 1, 2012. The expense limits for Emerging Countries are 1.85%, 2.60%, 2.60%, 1.50% and 1.65% for Class A, B, C, I and W shares, respectively. If, after March 1, 2012, ING Investments elects not to renew the side agreement, the expense limits will revert to the limits listed in the table above. There is no guarantee that this side agreement will continue after that date. The side agreement will only renew if ING Investments elects to renew it. Any fees waived pursuant to the side agreement shall not be eligible for recoupment. |
(3) | Pursuant to a side agreement, ING Investments has lowered the expense limits for Global Natural Resources through at least March 1, 2012. The expense limits for Global Natural Resources are 1.85%, 1.60% and 1.60% for Class A, I and W shares, respectively. If, after March 1, 2012, ING Investments elects not to renew the side agreement, the expense limits will revert to the limits listed in the table above. There is no guarantee that this side agreement will continue after that date. The side agreement will only renew if ING Investments elects to renew it. Any fees waived pursuant to the side agreement shall not be eligible for recoupment. |
(4) | Pursuant to a side agreement, ING Investments has lowered the expense limit for Global Opportunities to 1.05% for Class I shares through at least March 1, 2012. If, after March 1, 2012, ING Investments elects not to renew the side agreement, the expense limit will revert to the limit listed in the table above. There is no guarantee that this side agreement will continue after that date. The side agreement will only renew if ING Investments elects to renew it. |
(5) | Pursuant to a side agreement, ING Investments has lowered the expense limits for Global Real Estate through at least March 1, 2012. The expense limits for Global Real Estate are 1.65%, 2.40%, 2.40%, 1.40%, 1.65%, 1.90% and 1.40% for Class A, B, C, I, O, R and W shares, respectively. If, after March 1, 2012, ING Investments elects not to renew the side agreement, the expense limits will revert to the limits listed in the table above. There is no guarantee that this side agreement will continue after that date. The side agreement will only renew if ING Investments elects to renew it. Any fees waived pursuant to the side agreement shall not be eligible for recoupment. |
(6) | Pursuant to a side agreement, the expense limits for Greater China are 2.10%, 2.85%, 2.85%, 1.85%, 1.85% and 2.10% for Class A, B, C, I, W and O shares, respectively, through March 1, 2012. There is no guarantee that this side agreement will continue after that date. This side agreement will only renew if ING Investments elects to renew it. Any fees waived pursuant to the side agreement shall not be eligible for recoupment. |
(7) | Pursuant to a side agreement, the expense limits for International Value Choice are 1.60%, 2.35%, 2.35%, 1.35% and 1.35% for Class A, B, C, I and W shares, respectively, through March 1, 2012. If after March 1, 2012, ING Investments elects not to renew the side agreement, the expense limits will revert to the limits listed in the table above. There is no guarantee that this side agreement will continue after that date. The side agreement will only renew if ING Investments elects to renew it. |
(8) | Pursuant to a side agreement, ING Investments has lowered the expense limit for Class I shares of Emerging Markets Equity to 1.25% through at least March 1, 2013. If, after March 1, 2013, ING Investments elects not to renew the side agreement, the expense limits will revert to the limits listed in the table above. There is no guarantee that this side agreement will continue after that date. The side agreement will only renew if ING Investments elects to renew it. |
2012 | 2013 | 2014 | Total | |||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Diversified International | $ | 786,289 | $ | 472,043 | $ | 51,924 | $ | 1,310,256 | ||||||||||
Emerging Markets Equity | — | — | 12,272 | 12,272 | ||||||||||||||
Global Bond | 272,426 | 365,110 | 307,563 | 945,099 | ||||||||||||||
Global Equity Dividend | 172,058 | — | 18,968 | 191,026 | ||||||||||||||
Global Opportunities | — | — | 198,874 | 198,874 | ||||||||||||||
Index Plus International Equity | 22,838 | 22,288 | 358,140 | 403,266 | ||||||||||||||
International Capital Appreciation | 25,287 | 193,638 | 142,613 | 361,538 | ||||||||||||||
International Core | — | — | 111,853 | 111,853 | ||||||||||||||
International Growth | — | — | 97,201 | 97,201 |
2012 | 2013 | 2014 | Total | |||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Diversified International | ||||||||||||||||||
Class A | $ | 39,041 | $ | 13,391 | $ | 121,634 | $ | 174,066 | ||||||||||
Class B | 5,755 | 2,176 | 19,366 | 27,297 | ||||||||||||||
Class C | 21,656 | 7,365 | 71,599 | 100,620 | ||||||||||||||
Class O | 1,830 | 1,800 | 4,761 | 8,391 | ||||||||||||||
Class R | 54 | 21 | 226 | 301 | ||||||||||||||
Class W | 2,307 | 1,912 | 3,017 | 7,236 | ||||||||||||||
Global Opportunities | ||||||||||||||||||
Class A | $ | 60,601 | $ | 50,223 | $ | — | $ | 110,824 | ||||||||||
Class B | 8,618 | 8,058 | — | 16,676 | ||||||||||||||
Class C | 47,861 | 43,870 | — | 91,731 | ||||||||||||||
Global Opportunities (continued) | ||||||||||||||||||
Class I | $ | — | $ | — | $ | 9,671 | $ | 9,671 | ||||||||||
Class W | — | 1,125 | — | 1,125 | ||||||||||||||
Index Plus International Equity | ||||||||||||||||||
Class A | $ | 30,515 | $ | 11,667 | $ | — | $ | 42,182 | ||||||||||
Class B | 4,392 | 1,268 | — | 5,660 | ||||||||||||||
Class C | 4,534 | 1,761 | — | 6,295 | ||||||||||||||
Class O | 146,637 | 60,711 | — | 207,348 | ||||||||||||||
International Real Estate | ||||||||||||||||||
Class A | $ | 158,438 | $ | 405 | $ | — | $ | 158,843 | ||||||||||
Class B | 6,996 | 96 | — | 7,092 | ||||||||||||||
Class C | 51,655 | 612 | — | 52,267 | ||||||||||||||
International Value Choice | ||||||||||||||||||
Class A | $ | 13,778 | $ | 15,874 | $ | 27,795 | $ | 57,447 | ||||||||||
Class B | 2,169 | 1,164 | 910 | 4,243 | ||||||||||||||
Class C | 3,921 | 3,756 | 6,165 | 13,842 | ||||||||||||||
Class W | — | 21 | 90 | 111 |
EUR Notional | Cost | |||||||||
---|---|---|---|---|---|---|---|---|---|---|
Balance at 10/31/10 | — | $ | — | |||||||
Options Purchased | 81,900,000 | 1,792,934 | ||||||||
Options Terminated in Closing Sell Transactions | (25,300,000 | ) | (500,907 | ) | ||||||
Options Expired | (45,000,000 | ) | (943,649 | ) | ||||||
Balance at 10/31/11 | 11,600,000 | $ | 348,378 |
USD Notional | Cost | |||||||||
---|---|---|---|---|---|---|---|---|---|---|
Balance at 10/31/10 | 155,000,000 | $ | 2,192,817 | |||||||
Options Purchased | 1,263,800,000 | 12,580,894 | ||||||||
Options Terminated in Closing Sell Transactions | — | — | ||||||||
Options Expired | (1,277,000,000 | ) | (12,605,397 | ) | ||||||
Balance at 10/31/11 | 141,800,000 | $ | 2,168,314 |
Number of Contracts | Cost | |||||||||
---|---|---|---|---|---|---|---|---|---|---|
Balance at 10/31/10 | — | $ | — | |||||||
Options Purchased | 491 | 385,555 | ||||||||
Options Terminated in Closing Sell Transactions | (491 | ) | (385,555 | ) | ||||||
Options Expired | — | — | ||||||||
Balance at 10/31/11 | — | $ | — |
Number of Contracts | Cost | |||||||||
---|---|---|---|---|---|---|---|---|---|---|
Balance at 10/31/10 | — | $ | — | |||||||
Options Purchased | 34,275,000 | 119,963 | ||||||||
Options Terminated in Closing Sell Transactions | (34,275,000 | ) | (119,963 | ) | ||||||
Options Expired | — | — | ||||||||
Balance at 10/31/11 | — | $ | — |
EUR Notional | Premiums Received | |||||||||
---|---|---|---|---|---|---|---|---|---|---|
Balance at 10/31/10 | — | $ | — | |||||||
Options Written | 62,200,000 | 1,646,969 | ||||||||
Options Terminated in Closing Purchase Transactions | (25,300,000 | ) | (671,530 | ) | ||||||
Options Expired | (25,300,000 | ) | (690,893 | ) | ||||||
Balance at 10/31/11 | 11,600,000 | $ | 284,546 |
USD Notional | Premiums Received | |||||||||
---|---|---|---|---|---|---|---|---|---|---|
Balance at 10/31/10 | 206,800,000 | $ | 1,924,987 | |||||||
Options Written | 1,262,800,000 | 11,120,681 | ||||||||
Options Terminated in Closing Purchase Transactions | (186,000,000 | ) | (1,615,562 | ) | ||||||
Options Expired | (1,173,000,000 | ) | (10,163,830 | ) | ||||||
Balance at 10/31/11 | 110,600,000 | $ | 1,266,276 |
Number of Contracts | Premiums Received | |||||||||
---|---|---|---|---|---|---|---|---|---|---|
Balance at 10/31/10 | — | $ | — | |||||||
Options Written | 491 | 128,506 | ||||||||
Options Terminated in Closing Purchase Transactions | (491 | ) | (128,506 | ) | ||||||
Options Expired | — | — | ||||||||
Balance at 10/31/11 | — | $ | — |
Number of Contracts | Premiums Received | |||||||||
---|---|---|---|---|---|---|---|---|---|---|
Balance at 10/31/10 | — | $ | — | |||||||
Options Written | (34,275,000 | ) | (119,963 | ) | ||||||
Options Terminated in Closing Purchase Transactions | 34,275,000 | 119,963 | ||||||||
Options Expired | — | — | ||||||||
Balance at 10/31/11 | — | $ | — |
Portfolio | Days Utilized | Approximate Average Daily Balance For Days Utilized | Approximate Weighted Average Interest Rate For Days Utilized | |||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Emerging Countries | 46 | $ | 2,187,283 | 1.30 | % | |||||||||
Global Bond | 47 | 1,316,915 | 1.37 | % | ||||||||||
Global Equity Dividend | 15 | 7,239,667 | 1.36 | % | ||||||||||
Global Natural Resources | 1 | 925,000 | 1.35 | % | ||||||||||
Global Opportunities | 70 | 1,424,000 | 1.36 | % | ||||||||||
Greater China | 7 | 693,571 | 1.40 | % | ||||||||||
Index Plus International Equity | 26 | 1,883,077 | 1.37 | % | ||||||||||
International Capital Appreciation | 26 | 487,308 | 1.42 | % | ||||||||||
International Real Estate | 51 | 2,272,843 | 1.29 | % | ||||||||||
International SmallCap Multi-Manager | 91 | 1,452,714 | 1.26 | % | ||||||||||
International Value | 181 | 2,483,039 | 1.38 | % | ||||||||||
Russia | 22 | 4,453,182 | 1.31 | % |
Year or | Shares sold | Shares issued in merger | Reinvestment of distributions | Shares redeemed | Shares converted | Net increase (decrease) in shares outstanding | Shares sold | Payments from Distribution settlement/ affiliate (Note 17) | Proceeds from shares issued in merger | Reinvestment of distributions | Redemption fee proceeds | Shares redeemed | Shares converted | Net increase (decrease) | |||||||||||||||||||||||||||||||||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
period ended | # | # | # | # | # | # | ($) | $ | ($) | ($) | $ | ($) | $ | ($) | |||||||||||||||||||||||||||||||||||||||||||||
Diversified International | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Class A | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
10/31/2011 | 790,343 | — | 90,062 | (4,745,194 | ) | — | (3,864,789 | ) | 7,627,783 | — | — | 863,699 | — | (45,428,470 | ) | — | (36,936,988 | ) | |||||||||||||||||||||||||||||||||||||||||
10/31/2010 | 1,461,752 | — | 100,614 | (6,298,412 | ) | — | (4,736,046 | ) | 12,661,601 | — | — | 873,328 | — | (54,252,662 | ) | — | (40,717,733 | ) | |||||||||||||||||||||||||||||||||||||||||
Class B | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
10/31/2011 | 607 | — | 2,021 | (605,231 | ) | — | (602,603 | ) | 6,016 | — | — | 19,384 | — | (5,756,366 | ) | — | (5,730,966 | ) | |||||||||||||||||||||||||||||||||||||||||
10/31/2010 | 23,616 | — | 2,543 | (656,163 | ) | — | (630,004 | ) | 203,485 | — | — | 22,049 | — | (5,597,453 | ) | — | (5,371,919 | ) | |||||||||||||||||||||||||||||||||||||||||
Class C | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
10/31/2011 | 194,020 | — | 8,099 | (2,071,989 | ) | — | (1,869,870 | ) | 1,836,873 | — | — | 77,503 | — | (19,497,794 | ) | — | (17,583,418 | ) | |||||||||||||||||||||||||||||||||||||||||
10/31/2010 | 407,538 | — | 5,029 | (2,790,681 | ) | — | (2,378,114 | ) | 3,485,817 | — | — | 43,547 | — | (23,814,316 | ) | — | (20,284,952 | ) | |||||||||||||||||||||||||||||||||||||||||
Class I | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
10/31/2011 | 1,060,810 | — | 3,807 | (661,463 | ) | — | 403,154 | 10,315,904 | — | — | 36,391 | — | (6,155,133 | ) | — | 4,197,162 | |||||||||||||||||||||||||||||||||||||||||||
10/31/2010 | 1,277,026 | — | 3,793 | (684,094 | ) | — | 596,725 | 11,308,009 | — | — | 32,808 | — | (5,797,291 | ) | — | 5,543,526 | |||||||||||||||||||||||||||||||||||||||||||
Class O | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
10/31/2011 | 209,526 | — | — | (116,325 | ) | — | 93,201 | 1,989,309 | — | — | — | — | (1,059,969 | ) | — | 929,340 | |||||||||||||||||||||||||||||||||||||||||||
10/31/2010 | 192,733 | — | — | (107,174 | ) | — | 85,559 | 1,656,643 | — | — | — | — | (908,188 | ) | — | 748,455 | |||||||||||||||||||||||||||||||||||||||||||
Class R | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
10/31/2011 | — | — | 140 | (2,802 | ) | — | (2,662 | ) | — | — | — | 1,332 | — | (27,610 | ) | — | (26,278 | ) | |||||||||||||||||||||||||||||||||||||||||
10/31/2010 | — | — | 143 | (5,607 | ) | — | (5,464 | ) | — | — | — | 1,233 | — | (44,650 | ) | — | (43,417 | ) | |||||||||||||||||||||||||||||||||||||||||
Class W | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
10/31/2011 | 66,855 | — | 3,496 | (170,541 | ) | — | (100,190 | ) | 587,373 | — | — | 33,281 | — | (1,612,628 | ) | — | (991,974 | ) | |||||||||||||||||||||||||||||||||||||||||
10/31/2010 | 117,957 | — | 2,777 | (166,936 | ) | — | (46,202 | ) | 1,027,684 | — | — | 23,940 | — | (1,384,104 | ) | — | (332,480 | ) | |||||||||||||||||||||||||||||||||||||||||
Emerging Countries | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Class A | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
10/31/2011 | 152,170 | — | 60 | (651,910 | ) | — | (499,680 | ) | 4,411,448 | — | — | 1,388 | — | (18,621,671 | ) | — | (14,208,835 | ) | |||||||||||||||||||||||||||||||||||||||||
10/31/2010 | 391,234 | — | — | (677,274 | ) | — | (286,040 | ) | 10,144,971 | — | — | — | — | (17,371,829 | ) | — | (7,226,858 | ) | |||||||||||||||||||||||||||||||||||||||||
Class B | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
10/31/2011 | 3,213 | — | 1 | (61,760 | ) | — | (58,546 | ) | 91,802 | — | — | 36 | — | (1,758,758 | ) | — | (1,666,920 | ) | |||||||||||||||||||||||||||||||||||||||||
10/31/2010 | 9,310 | — | — | (84,210 | ) | — | (74,900 | ) | 241,118 | — | — | — | — | (2,117,568 | ) | — | (1,876,450 | ) | |||||||||||||||||||||||||||||||||||||||||
Class C | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
10/31/2011 | 30,879 | — | 11 | (154,996 | ) | — | (124,106 | ) | 813,881 | — | — | 235 | — | (4,101,579 | ) | — | (3,287,463 | ) | |||||||||||||||||||||||||||||||||||||||||
10/31/2010 | 73,192 | — | — | (244,887 | ) | — | (171,695 | ) | 1,764,576 | — | — | — | — | (5,865,221 | ) | — | (4,100,645 | ) | |||||||||||||||||||||||||||||||||||||||||
Class I | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
10/31/2011 | 1,081,015 | — | 3,429 | (3,241,619 | ) | — | (2,157,175 | ) | 31,154,841 | — | — | 103,143 | — | (82,565,009 | ) | — | (51,307,025 | ) | |||||||||||||||||||||||||||||||||||||||||
10/31/2010 | 2,259,040 | — | — | (1,076,917 | ) | — | 1,182,123 | 60,266,679 | — | — | — | — | (27,249,282 | ) | — | 33,017,397 | |||||||||||||||||||||||||||||||||||||||||||
Class Q(3) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
10/31/2011 | — | — | — | — | — | — | — | — | — | — | — | — | — | — | |||||||||||||||||||||||||||||||||||||||||||||
10/31/2010 | 32,646 | — | — | (91,200 | ) | (256,659 | ) | (315,213 | ) | 859,069 | — | — | — | — | (2,418,652 | ) | (6,866,484 | ) | (8,426,067 | ) | |||||||||||||||||||||||||||||||||||||||
Class W | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
10/31/2011 | 54,828 | — | 211 | (136,623 | ) | — | (81,584 | ) | 1,723,097 | — | — | 6,626 | — | (4,155,675 | ) | — | (2,425,952 | ) | |||||||||||||||||||||||||||||||||||||||||
10/31/2010 | 39,306 | — | — | (86,880 | ) | 254,590 | 207,016 | 1,086,722 | — | — | — | — | (2,344,010 | ) | 6,866,484 | 5,609,196 | |||||||||||||||||||||||||||||||||||||||||||
Emerging Markets Equity | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Class A | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
10/11/2011(1)-10/31/2011 | 1,965 | — | — | (1 | ) | — | 1,964 | 19,841 | — | — | — | — | (10 | ) | — | 19,831 | |||||||||||||||||||||||||||||||||||||||||||
Class C | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
10/11/2011(1)-10/31/2011 | 302 | — | — | (1 | ) | — | 301 | 3,020 | — | — | — | — | (10 | ) | — | 3,010 | |||||||||||||||||||||||||||||||||||||||||||
Class I | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
10/11/2011(1)-10/31/2011 | 8,629,474 | — | — | (228,984 | ) | — | 8,400,490 | 86,341,357 | — | — | — | — | (2,442,178 | ) | — | 83,899,179 | |||||||||||||||||||||||||||||||||||||||||||
Class R | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
10/11/2011(1)-10/31/2011 | 302 | — | — | (1 | ) | — | 301 | 3,020 | — | — | — | — | (10 | ) | — | 3,010 | |||||||||||||||||||||||||||||||||||||||||||
Class W | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
10/11/2011(1)-10/31/2011 | 302 | — | — | (1 | ) | — | 301 | 3,020 | — | — | — | — | (10 | ) | — | 3,010 |
(1) | Commencement of operations. |
(3) | Effective March 8, 2010, Class Q shareholders of Emerging Countries and International Capital Appreciation were converted to Class W shares of each respective Fund. |
Year or | Shares sold | Shares issued in merger | Reinvestment of distributions | Shares redeemed | Shares converted | Net increase (decrease) in shares outstanding | Shares sold | Payments from Distribution settlement/ affiliate (Note 17) | Proceeds from shares issued in merger | Reinvestment of distributions | Redemption fee proceeds | Shares redeemed | Shares converted | Net increase (decrease) | |||||||||||||||||||||||||||||||||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
period ended | # | # | # | # | # | # | ($) | $ | ($) | ($) | $ | ($) | $ | ($) | |||||||||||||||||||||||||||||||||||||||||||||
Global Bond | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Class A | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
10/31/2011 | 14,837,384 | — | 940,858 | (8,773,526 | ) | — | 7,004,716 | 176,621,769 | — | — | 11,116,131 | — | (103,775,875 | ) | — | 83,962,025 | |||||||||||||||||||||||||||||||||||||||||||
10/31/2010 | 13,465,862 | — | 605,364 | (6,875,428 | ) | — | 7,195,798 | 161,645,282 | — | — | 7,244,781 | — | (81,981,963 | ) | — | 86,908,100 | |||||||||||||||||||||||||||||||||||||||||||
Class B | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
10/31/2011 | 25,063 | — | 10,171 | (194,167 | ) | — | (158,933 | ) | 293,547 | — | — | 119,021 | — | (2,285,314 | ) | — | (1,872,746 | ) | |||||||||||||||||||||||||||||||||||||||||
10/31/2010 | 118,350 | — | 16,671 | (219,538 | ) | — | (84,517 | ) | 1,409,240 | — | — | 198,357 | — | (2,595,047 | ) | — | (987,450 | ) | |||||||||||||||||||||||||||||||||||||||||
Class C | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
10/31/2011 | 2,435,405 | — | 249,324 | (2,416,578 | ) | — | 268,151 | 28,754,106 | — | — | 2,929,190 | — | (28,391,280 | ) | — | 3,292,016 | |||||||||||||||||||||||||||||||||||||||||||
10/31/2010 | 4,660,773 | — | 175,740 | (1,206,636 | ) | — | 3,629,877 | 55,719,364 | — | — | 2,096,768 | — | (14,299,244 | ) | — | 43,516,888 | |||||||||||||||||||||||||||||||||||||||||||
Class I | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
10/31/2011 | 14,003,879 | — | 1,101,842 | (11,781,300 | ) | — | 3,324,421 | 165,827,791 | — | — | 12,984,986 | — | (138,649,671 | ) | — | 40,163,106 | |||||||||||||||||||||||||||||||||||||||||||
10/31/2010 | 12,403,809 | — | 863,246 | (6,327,409 | ) | — | 6,939,646 | 147,582,012 | — | — | 10,302,051 | — | (74,903,934 | ) | — | 82,980,129 | |||||||||||||||||||||||||||||||||||||||||||
Class O | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
10/31/2011 | 174,442 | — | — | (125,060 | ) | — | 49,382 | 2,039,436 | — | — | — | — | (1,455,707 | ) | — | 583,729 | |||||||||||||||||||||||||||||||||||||||||||
10/31/2010 | 230,740 | — | 26 | (194,721 | ) | — | 36,045 | 2,729,158 | — | — | 304 | — | (2,281,700 | ) | — | 447,762 | |||||||||||||||||||||||||||||||||||||||||||
Class R | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
8/5/2011(1)-10/31/2011 | 249 | — | — | — | — | 249 | 3,000 | — | — | — | — | — | — | 3,000 | |||||||||||||||||||||||||||||||||||||||||||||
Class W | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
10/31/2011 | 1,541,709 | — | 77,641 | (889,160 | ) | — | 730,190 | 18,139,074 | — | — | 901,653 | — | (10,356,411 | ) | — | 8,684,316 | |||||||||||||||||||||||||||||||||||||||||||
10/31/2010 | 1,197,217 | — | 25,142 | (182,411 | ) | — | 1,039,948 | 14,196,899 | — | — | 295,702 | — | (2,144,700 | ) | — | 12,347,901 | |||||||||||||||||||||||||||||||||||||||||||
Global Equity Dividend | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Class A | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
10/31/2011 | 500,530 | — | 69,470 | (1,359,857 | ) | — | (789,857 | ) | 5,322,885 | — | — | 714,783 | — | (14,359,575 | ) | — | (8,321,907 | ) | |||||||||||||||||||||||||||||||||||||||||
10/31/2010 | 866,925 | — | 86,029 | (1,812,822 | ) | — | (859,868 | ) | 8,475,129 | — | — | 826,073 | — | (17,858,240 | ) | — | (8,557,038 | ) | |||||||||||||||||||||||||||||||||||||||||
Class B | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
10/31/2011 | 9,268 | — | 8,456 | (498,877 | ) | — | (481,153 | ) | 96,524 | — | — | 87,101 | — | (5,286,367 | ) | — | (5,102,742 | ) | |||||||||||||||||||||||||||||||||||||||||
10/31/2010 | 35,025 | — | 17,471 | (683,413 | ) | — | (630,917 | ) | 342,001 | — | — | 165,967 | — | (6,646,863 | ) | — | (6,138,895 | ) | |||||||||||||||||||||||||||||||||||||||||
Class C | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
10/31/2011 | 214,192 | — | 24,967 | (832,092 | ) | — | (592,933 | ) | 2,264,204 | — | — | 255,463 | — | (8,619,469 | ) | — | (6,099,802 | ) | |||||||||||||||||||||||||||||||||||||||||
10/31/2010 | 188,781 | — | 35,118 | (1,459,491 | ) | — | (1,235,592 | ) | 1,859,348 | — | — | 332,680 | — | (14,234,997 | ) | — | (12,042,969 | ) | |||||||||||||||||||||||||||||||||||||||||
Class I | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
10/31/2011 | 297,406 | — | 11,881 | (1,185,723 | ) | — | (876,436 | ) | 3,207,782 | — | — | 125,874 | — | (13,016,981 | ) | — | (9,683,325 | ) | |||||||||||||||||||||||||||||||||||||||||
10/31/2010 | 1,198,519 | — | 12,480 | (204,185 | ) | — | 1,006,814 | 11,619,730 | — | — | 121,733 | — | (1,987,575 | ) | — | 9,753,888 | |||||||||||||||||||||||||||||||||||||||||||
Class O | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
10/31/2011 | 182,639 | — | 1,235 | (282,490 | ) | — | (98,616 | ) | 1,915,918 | — | — | 12,673 | — | (2,974,561 | ) | — | (1,045,970 | ) | |||||||||||||||||||||||||||||||||||||||||
10/31/2010 | 218,071 | — | 1,672 | (377,480 | ) | — | (157,737 | ) | 2,141,770 | — | — | 16,065 | — | (3,735,705 | ) | — | (1,577,870 | ) | |||||||||||||||||||||||||||||||||||||||||
Class W | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
10/31/2011 | 360,187 | — | 11,903 | (3,567,775 | ) | — | (3,195,685 | ) | 4,101,591 | — | — | 135,782 | — | (41,886,837 | ) | — | (37,649,464 | ) | |||||||||||||||||||||||||||||||||||||||||
10/31/2010 | 1,658,473 | — | 52,701 | (432,567 | ) | — | 1,278,607 | 17,752,111 | — | — | 551,389 | — | (4,623,735 | ) | — | 13,679,765 | |||||||||||||||||||||||||||||||||||||||||||
Global Natural Resources | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Class A | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
10/31/2011 | 1,896,425 | — | 4,458 | (2,102,330 | ) | — | (201,447 | ) | 19,501,873 | — | — | 43,516 | — | (21,032,478 | ) | — | (1,487,089 | ) | |||||||||||||||||||||||||||||||||||||||||
10/31/2010 | 1,360,810 | — | 31,815 | (2,599,161 | ) | — | (1,206,536 | ) | 11,926,166 | — | — | 260,562 | — | (21,434,666 | ) | — | (9,877,938 | ) | |||||||||||||||||||||||||||||||||||||||||
Class I | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
10/31/2011 | 346,115 | — | 128 | (157,521 | ) | — | 188,722 | 3,455,433 | — | — | 1,253 | — | (1,568,677 | ) | — | 1,888,009 | |||||||||||||||||||||||||||||||||||||||||||
10/31/2010 | 758,038 | — | 495 | (486,327 | ) | — | 272,206 | 6,403,842 | — | — | 4,044 | — | (3,683,147 | ) | — | 2,724,739 | |||||||||||||||||||||||||||||||||||||||||||
Class W | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
10/31/2011 | 219,268 | — | 23 | (106,544 | ) | — | 112,747 | 2,994,657 | — | — | 286 | — | (1,392,177 | ) | — | 1,602,766 | |||||||||||||||||||||||||||||||||||||||||||
10/31/2010 | 18,326 | — | 96 | (3,258 | ) | — | 15,164 | 193,162 | — | — | 986 | — | (33,692 | ) | — | 160,456 | |||||||||||||||||||||||||||||||||||||||||||
Global Opportunities | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Class A | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
10/31/2011 | 394,079 | — | 74,951 | (2,099,213 | ) | — | (1,630,183 | ) | 5,729,924 | — | — | 1,058,855 | — | (29,965,774 | ) | — | (23,176,995 | ) | |||||||||||||||||||||||||||||||||||||||||
10/31/2010 | 614,053 | — | — | (3,972,450 | ) | — | (3,358,397 | ) | 8,153,063 | — | — | — | — | (52,591,257 | ) | — | (44,438,194 | ) | |||||||||||||||||||||||||||||||||||||||||
Class B | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
10/31/2011 | 1,629 | — | 6,844 | (305,512 | ) | — | (297,039 | ) | 22,273 | — | — | 92,973 | — | (4,201,481 | ) | — | (4,086,235 | ) | |||||||||||||||||||||||||||||||||||||||||
10/31/2010 | 1,570 | — | — | (464,057 | ) | — | (462,487 | ) | 21,114 | — | — | — | — | (5,819,434 | ) | — | (5,798,320 | ) |
(1) | Commencement of operations. |
Year or | Shares sold | Shares issued in merger | Reinvestment of distributions | Shares redeemed | Shares converted | Net increase (decrease) in shares outstanding | Shares sold | Payments from Distribution settlement/ affiliate (Note 17) | Proceeds from shares issued in merger | Reinvestment of distributions | Redemption fee proceeds | Shares redeemed | Shares converted | Net increase (decrease) | |||||||||||||||||||||||||||||||||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
period ended | # | # | # | # | # | # | ($) | $ | ($) | ($) | $ | ($) | $ | ($) | |||||||||||||||||||||||||||||||||||||||||||||
Global Opportunities (continued) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Class C | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
10/31/2011 | 44,579 | — | 36,650 | (1,688,401 | ) | — | (1,607,172 | ) | 615,566 | — | — | 497,929 | — | (23,236,007 | ) | — | (22,122,512 | ) | |||||||||||||||||||||||||||||||||||||||||
10/31/2010 | 327,260 | — | — | (2,866,616 | ) | — | (2,539,356 | ) | 4,200,079 | — | — | — | — | (36,057,889 | ) | — | (31,857,810 | ) | |||||||||||||||||||||||||||||||||||||||||
Class I | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
10/31/2011 | 149,528 | — | 7,802 | (510,535 | ) | — | (353,205 | ) | 2,265,528 | — | — | 112,177 | — | (7,480,912 | ) | — | (5,103,207 | ) | |||||||||||||||||||||||||||||||||||||||||
10/31/2010 | 698,191 | — | — | (5,029,565 | ) | — | (4,331,374 | ) | 9,920,604 | — | — | — | — | (65,889,490 | ) | — | (55,968,886 | ) | |||||||||||||||||||||||||||||||||||||||||
Class Q(2) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
10/31/2011 | — | — | — | — | — | — | — | — | — | — | — | — | — | — | |||||||||||||||||||||||||||||||||||||||||||||
10/31/2010 | — | — | — | — | (1,775 | ) | (1,775 | ) | — | — | — | — | — | — | (24,700 | ) | (24,700 | ) | |||||||||||||||||||||||||||||||||||||||||
Class W | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
10/31/2011 | 616 | — | 278 | (91,171 | ) | — | (90,277 | ) | 10,091 | — | — | 4,305 | — | (1,438,902 | ) | — | (1,424,506 | ) | |||||||||||||||||||||||||||||||||||||||||
10/31/2010 | 82,610 | — | — | (28,018 | ) | 1,677 | 56,269 | 1,209,837 | — | — | — | — | (389,991 | ) | 24,700 | 844,546 | |||||||||||||||||||||||||||||||||||||||||||
Global Real Estate | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Class A | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
10/31/2011 | 35,678,698 | — | 2,539,908 | (33,801,169 | ) | — | 4,417,437 | 583,010,229 | — | — | 40,568,806 | — | (539,329,675 | ) | — | 84,249,360 | |||||||||||||||||||||||||||||||||||||||||||
10/31/2010 | 36,101,595 | — | 2,747,909 | (28,902,801 | ) | — | 9,946,703 | 529,789,609 | — | — | 40,220,542 | — | (426,260,118 | ) | — | 143,750,033 | |||||||||||||||||||||||||||||||||||||||||||
Class B | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
10/31/2011 | 15,686 | — | 40,781 | (428,772 | ) | — | (372,305 | ) | 211,758 | — | — | 543,851 | — | (5,856,328 | ) | — | (5,100,719 | ) | |||||||||||||||||||||||||||||||||||||||||
10/31/2010 | 65,343 | — | 81,945 | (494,090 | ) | — | (346,802 | ) | 819,763 | — | — | 1,003,378 | — | (5,993,064 | ) | — | (4,169,923 | ) | |||||||||||||||||||||||||||||||||||||||||
Class C | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
10/31/2011 | 3,871,056 | — | 368,665 | (3,233,525 | ) | — | 1,006,196 | 55,991,916 | — | — | 5,190,100 | — | (46,083,893 | ) | — | 15,098,123 | |||||||||||||||||||||||||||||||||||||||||||
10/31/2010 | 4,642,825 | — | 479,930 | (2,927,692 | ) | — | 2,195,063 | 60,749,179 | — | — | 6,210,490 | — | (37,954,330 | ) | — | 29,005,339 | |||||||||||||||||||||||||||||||||||||||||||
Class I | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
10/31/2011 | 55,667,213 | — | 3,313,362 | (26,245,082 | ) | — | 32,735,493 | 909,749,138 | — | — | 52,673,272 | — | (416,986,757 | ) | — | 545,435,653 | |||||||||||||||||||||||||||||||||||||||||||
10/31/2010 | 56,047,518 | — | 2,362,378 | (14,694,987 | ) | — | 43,714,909 | 819,376,161 | — | — | 34,557,613 | — | (216,539,062 | ) | — | 637,394,712 | |||||||||||||||||||||||||||||||||||||||||||
Class O | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
10/31/2011 | 115,732 | — | 1,039 | (172,483 | ) | — | (55,712 | ) | 1,892,052 | — | — | 16,607 | — | (2,819,602 | ) | — | (910,943 | ) | |||||||||||||||||||||||||||||||||||||||||
10/31/2010 | 149,356 | — | 1,790 | (188,857 | ) | — | (37,711 | ) | 2,206,785 | — | — | 26,198 | — | (2,797,854 | ) | — | (564,871 | ) | |||||||||||||||||||||||||||||||||||||||||
Class R | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
8/5/2011(1)-10/31/2011 | 193 | — | — | — | — | 193 | 2,998 | — | — | — | — | — | — | 2,998 | |||||||||||||||||||||||||||||||||||||||||||||
Class W | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
10/31/2011 | 9,234,130 | — | 684,225 | (7,206,362 | ) | — | 2,711,993 | 151,468,423 | — | — | 10,943,660 | — | (117,273,273 | ) | — | 45,138,810 | |||||||||||||||||||||||||||||||||||||||||||
10/31/2010 | 8,813,884 | — | 591,867 | (4,773,471 | ) | — | 4,632,280 | 129,335,342 | — | — | 8,679,094 | — | (69,779,415 | ) | — | 68,235,021 | |||||||||||||||||||||||||||||||||||||||||||
Global Value Choice | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Class A | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
10/31/2011 | 4,265,625 | — | 79,834 | (3,420,485 | ) | — | 924,974 | 144,603,799 | — | — | 2,641,663 | — | (114,217,071 | ) | — | 33,028,391 | |||||||||||||||||||||||||||||||||||||||||||
10/31/2010 | 5,123,750 | — | 19,446 | (2,928,701 | ) | — | 2,214,495 | 148,107,340 | 218,157 | — | 545,422 | — | (85,125,992 | ) | — | 63,744,927 | |||||||||||||||||||||||||||||||||||||||||||
Class B | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
10/31/2011 | 13,043 | — | 1,069 | (69,196 | ) | — | (55,084 | ) | 471,719 | — | — | 37,866 | — | (2,483,644 | ) | — | (1,974,059 | ) | |||||||||||||||||||||||||||||||||||||||||
10/31/2010 | 53,756 | — | 526 | (84,564 | ) | — | (30,282 | ) | 1,632,312 | 10,831 | — | 15,683 | — | (2,589,534 | ) | — | (930,708 | ) | |||||||||||||||||||||||||||||||||||||||||
Class C | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
10/31/2011 | 1,679,621 | — | 21,518 | (705,689 | ) | — | 995,450 | 53,663,379 | — | — | 673,274 | — | (22,048,879 | ) | — | 32,287,774 | |||||||||||||||||||||||||||||||||||||||||||
10/31/2010 | 2,121,677 | — | 3,072 | (613,310 | ) | — | 1,511,439 | 58,258,559 | 94,969 | — | 81,317 | — | (16,836,867 | ) | — | 41,597,978 | |||||||||||||||||||||||||||||||||||||||||||
Class I | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
10/31/2011 | 4,607,087 | — | 13,983 | (1,953,720 | ) | — | 2,667,350 | 157,033,879 | — | — | 466,333 | — | (65,663,284 | ) | — | 91,836,928 | |||||||||||||||||||||||||||||||||||||||||||
10/31/2010 | 4,714,094 | — | 3,454 | (376,334 | ) | — | 4,341,214 | 139,901,518 | 52,839 | — | 97,710 | — | (10,950,977 | ) | — | 129,101,090 | |||||||||||||||||||||||||||||||||||||||||||
Class Q(2) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
10/31/2011 | — | — | — | — | — | — | — | — | — | — | — | — | — | — | |||||||||||||||||||||||||||||||||||||||||||||
10/31/2010 | 94,329 | — | 141 | (90,249 | ) | (89,157 | ) | (84,936 | ) | 164,212 | — | — | 4,706 | — | (35,023 | ) | (2,937,993 | ) | (2,804,098 | ) | |||||||||||||||||||||||||||||||||||||||
Class W | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
10/31/2011 | 981,538 | — | 17,025 | (1,153,978 | ) | — | (155,415 | ) | 33,546,538 | — | — | 566,930 | — | (39,295,079 | ) | — | (5,181,611 | ) | |||||||||||||||||||||||||||||||||||||||||
10/31/2010 | 968,515 | — | 544 | (144,162 | ) | 104,290 | 929,187 | 28,782,179 | 12,728 | — | 15,268 | — | (4,229,081 | ) | 2,937,993 | 27,519,087 | |||||||||||||||||||||||||||||||||||||||||||
Greater China | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Class A | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
10/31/2011 | 313,197 | — | 18,389 | (652,246 | ) | — | (320,660 | ) | 5,042,890 | — | — | 301,511 | — | (10,568,981 | ) | — | (5,224,580 | ) | |||||||||||||||||||||||||||||||||||||||||
10/31/2010 | 562,404 | — | 30,852 | (1,068,369 | ) | — | (475,113 | ) | 8,263,372 | — | — | 455,094 | — | (15,405,908 | ) | — | (6,687,442 | ) |
(1) | Commencement of operations. |
(2) | Effective November 20, 2009, Class Q shareholders of Global Value Choice, Global Opportunities, International SmallCap Multi-Manager and International Value were converted to Class W shares of each respective Fund. |
Year or | Shares sold | Shares issued in merger | Reinvestment of distributions | Shares redeemed | Shares converted | Net increase (decrease) in shares outstanding | Shares sold | Payments from Distribution settlement/ affiliate (Note 17) | Proceeds from shares issued in merger | Reinvestment of distributions | Redemption fee proceeds | Shares redeemed | Shares converted | Net increase (decrease) | |||||||||||||||||||||||||||||||||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
period ended | # | # | # | # | # | # | ($) | $ | ($) | ($) | $ | ($) | $ | ($) | |||||||||||||||||||||||||||||||||||||||||||||
Greater China (continued) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Class B | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
10/31/2011 | 3,916 | — | 588 | (49,224 | ) | — | (44,720 | ) | 58,950 | — | — | 9,565 | — | (777,885 | ) | — | (709,370 | ) | |||||||||||||||||||||||||||||||||||||||||
10/31/2010 | 11,223 | — | 1,446 | (71,364 | ) | — | (58,695 | ) | 163,319 | — | — | 21,202 | — | (1,011,153 | ) | — | (826,632 | ) | |||||||||||||||||||||||||||||||||||||||||
Class C | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
10/31/2011 | 51,777 | — | 1,543 | (110,619 | ) | — | (57,299 | ) | 847,711 | — | — | 25,099 | — | (1,734,536 | ) | — | (861,726 | ) | |||||||||||||||||||||||||||||||||||||||||
10/31/2010 | 125,268 | — | 4,167 | (209,770 | ) | — | (80,335 | ) | 1,852,886 | — | — | 61,091 | — | (3,035,530 | ) | — | (1,121,553 | ) | |||||||||||||||||||||||||||||||||||||||||
Class I | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
10/31/2011 | 52,454 | — | 1,104 | (52,883 | ) | — | 675 | 873,097 | — | — | 18,083 | — | (857,921 | ) | — | 33,259 | |||||||||||||||||||||||||||||||||||||||||||
10/31/2010 | 139,550 | — | 938 | (54,154 | ) | — | 86,334 | 2,090,745 | — | — | 13,788 | — | (795,411 | ) | — | 1,309,122 | |||||||||||||||||||||||||||||||||||||||||||
Class O | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
10/31/2011 | 174,314 | — | 1 | (123,202 | ) | — | 51,113 | 2,808,070 | — | — | 17 | — | (1,928,462 | ) | — | 879,625 | |||||||||||||||||||||||||||||||||||||||||||
10/31/2010 | 221,453 | — | — | (152,009 | ) | — | 69,444 | 3,243,169 | — | — | — | — | (2,199,401 | ) | — | 1,043,768 | |||||||||||||||||||||||||||||||||||||||||||
Class W | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
8/5/2011(1)-10/31/2011 | 193 | — | — | — | — | 193 | 3,000 | — | — | — | — | — | — | 3,000 | |||||||||||||||||||||||||||||||||||||||||||||
Index Plus International Equity | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Class A | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
10/31/2011 | 104,858 | — | 13,812 | (249,258 | ) | — | (130,588 | ) | 900,553 | — | — | 115,330 | — | (2,118,993 | ) | — | (1,103,110 | ) | |||||||||||||||||||||||||||||||||||||||||
10/31/2010 | 126,350 | — | 19,995 | (204,662 | ) | — | (58,317 | ) | 1,002,690 | 1,182 | — | 158,654 | — | (1,604,935 | ) | — | (442,409 | ) | |||||||||||||||||||||||||||||||||||||||||
Class B | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
10/31/2011 | 13 | — | 278 | (42,996 | ) | — | (42,705 | ) | 112 | — | — | 2,340 | — | (377,578 | ) | — | (375,126 | ) | |||||||||||||||||||||||||||||||||||||||||
10/31/2010 | 1,442 | — | 1,260 | (66,899 | ) | — | (64,197 | ) | 11,844 | 127 | — | 10,068 | — | (524,252 | ) | — | (502,213 | ) | |||||||||||||||||||||||||||||||||||||||||
Class C | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
10/31/2011 | 6,716 | — | 529 | (29,920 | ) | — | (22,675 | ) | 56,268 | — | — | 4,422 | — | (250,290 | ) | — | (189,600 | ) | |||||||||||||||||||||||||||||||||||||||||
10/31/2010 | 16,860 | — | 1,572 | 59,997 | — | (41,565 | ) | 1,333,565 | 178 | — | 12,475 | — | (461,012 | ) | — | (314,794 | ) | ||||||||||||||||||||||||||||||||||||||||||
Class I | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
10/31/2011 | 5,759,325 | — | 161,820 | (9,597,420 | ) | — | (3,676,275 | ) | 47,802,176 | — | — | 1,352,813 | — | (83,821,515 | ) | — | (34,666,526 | ) | |||||||||||||||||||||||||||||||||||||||||
10/31/2010 | 6,522,224 | — | 129,035 | (3,480,056 | ) | — | 3,171,203 | 46,778,930 | 6,746 | — | 1,023,724 | — | (27,889,386 | ) | — | 19,920,014 | |||||||||||||||||||||||||||||||||||||||||||
Class O | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
10/31/2011 | 366,085 | — | 3,588 | (856,544 | ) | — | (486,871 | ) | 3,074,094 | — | — | 29,742 | — | (7,220,670 | ) | — | (4,116,834 | ) | |||||||||||||||||||||||||||||||||||||||||
10/31/2010 | 396,697 | — | 6,275 | (975,579 | ) | — | (572,607 | ) | 3,094,755 | 6,130 | — | 49,354 | — | (7,629,960 | ) | — | (4,479,721 | ) | |||||||||||||||||||||||||||||||||||||||||
Class W | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
8/5/2011(1)-10/31/2011 | 378 | — | — | — | — | 378 | 3,000 | — | — | — | — | — | — | 3,000 | |||||||||||||||||||||||||||||||||||||||||||||
International Capital Appreciation | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Class A | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
10/31/2011 | 195,816 | — | 7,316 | (830,648 | ) | — | (627,516 | ) | 2,072,657 | — | — | 76,020 | — | (8,624,785 | ) | — | (6,476,108 | ) | |||||||||||||||||||||||||||||||||||||||||
10/31/2010 | 254,793 | — | — | (676,394 | ) | — | (421,601 | ) | 2,406,542 | 4,565 | — | — | — | (6,403,411 | ) | — | (3,992,304 | ) | |||||||||||||||||||||||||||||||||||||||||
Class B | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
10/31/2011 | 5 | — | 141 | (156,988 | ) | — | (156,842 | ) | 49 | — | — | 1,462 | — | (1,655,706 | ) | — | (1,654,195 | ) | |||||||||||||||||||||||||||||||||||||||||
10/31/2010 | 12,264 | — | — | (248,489 | ) | — | (236,225 | ) | 120,843 | 720 | — | — | — | (2,291,677 | ) | — | (2,170,114 | ) | |||||||||||||||||||||||||||||||||||||||||
Class C | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
10/31/2011 | 11,558 | — | 268 | (98,699 | ) | — | (86,873 | ) | 117,142 | — | — | 2,779 | — | (992,066 | ) | — | (872,145 | ) | |||||||||||||||||||||||||||||||||||||||||
10/31/2010 | 30,886 | — | — | (148,512 | ) | — | (117,626 | ) | 293,890 | 1,413 | — | — | — | (1,390,616 | ) | — | (1,095,313 | ) | |||||||||||||||||||||||||||||||||||||||||
Class I | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
10/31/2011 | 178,767 | — | 44,069 | (5,330,783 | ) | — | (5,107,947 | ) | 1,900,053 | — | — | 455,742 | — | (56,620,019 | ) | — | (54,264,224 | ) | |||||||||||||||||||||||||||||||||||||||||
10/31/2010 | 2,169,135 | — | — | (2,964,930 | ) | — | (795,795 | ) | 20,494,871 | 8,679 | — | — | — | (28,544,870 | ) | — | (8,041,320 | ) | |||||||||||||||||||||||||||||||||||||||||
Class Q(3) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
10/31/2011 | — | — | — | — | — | — | — | — | — | — | — | — | — | — | |||||||||||||||||||||||||||||||||||||||||||||
10/31/2010 | 37,938 | — | — | (104,931 | ) | (1,225,201 | ) | (1,292,194 | ) | 364,883 | — | — | — | — | (1,009,772 | ) | (11,746,943 | ) | (12,391,832 | ) | |||||||||||||||||||||||||||||||||||||||
Class W | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
10/31/2011 | 23,142 | — | 6,724 | (257,103 | ) | — | (227,237 | ) | 234,321 | — | — | 69,771 | — | (2,569,828 | ) | — | (2,265,736 | ) | |||||||||||||||||||||||||||||||||||||||||
10/31/2010 | 155,240 | — | — | (312,970 | ) | 1,225,201 | 1,067,471 | 1,481,249 | 2,087 | — | — | — | (2,977,745 | ) | 11,746,943 | 10,252,534 | |||||||||||||||||||||||||||||||||||||||||||
International Core | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Class I | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
2/8/2011(1)-10/31/2011 | 45,815,728 | — | — | (6,242,980 | ) | — | 39,572,748 | 448,417,065 | — | — | — | — | (59,613,945 | ) | — | 388,803,120 |
(1) | Commencement of operations. |
(3) | Effective March 8, 2010, Class Q shareholders of Emerging Countries and International Capital Appreciation were converted to Class W shares of each respective Fund. |
Year or | Shares sold | Shares issued in merger | Reinvestment of distributions | Shares redeemed | Shares converted | Net increase (decrease) in shares outstanding | Shares sold | Payments from Distribution settlement/ affiliate (Note 17) | Proceeds from shares issued in merger | Reinvestment of distributions | Redemption fee proceeds | Shares redeemed | Shares converted | Net increase (decrease) | |||||||||||||||||||||||||||||||||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
period ended | # | # | # | # | # | # | ($) | $ | ($) | ($) | $ | ($) | $ | ($) | |||||||||||||||||||||||||||||||||||||||||||||
International Growth | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Class I | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
1/6/2011(1)-10/31/2011 | 19,924,126 | — | — | (3,769,437 | ) | — | 16,154,689 | 199,737,196 | — | — | — | — | (38,310,028 | ) | — | 161,427,168 | |||||||||||||||||||||||||||||||||||||||||||
International Real Estate | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Class A | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
10/31/2011 | 7,227,357 | — | 1,171,944 | (11,322,447 | ) | — | (2,923,146 | ) | 62,494,032 | — | — | 10,119,648 | — | (96,244,789 | ) | — | (23,631,109 | ) | |||||||||||||||||||||||||||||||||||||||||
10/31/2010 | 17,430,471 | — | 1,077,729 | (5,113,917 | ) | — | 13,394,283 | 143,696,684 | — | — | 8,750,749 | — | (40,981,653 | ) | — | 111,465,780 | |||||||||||||||||||||||||||||||||||||||||||
Class B | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
10/31/2011 | 3,697 | — | 9,939 | (87,778 | ) | — | (74,142 | ) | 31,996 | — | �� | — | 85,732 | — | (742,635 | ) | — | (624,907 | ) | ||||||||||||||||||||||||||||||||||||||||
10/31/2010 | 6,840 | — | 24,106 | (147,551 | ) | — | (116,605 | ) | 56,443 | — | — | 195,645 | — | (1,177,651 | ) | — | (925,563 | ) | |||||||||||||||||||||||||||||||||||||||||
Class C | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
10/31/2011 | 304,400 | — | 80,431 | (855,106 | ) | — | (470,275 | ) | 2,651,330 | — | — | 693,114 | — | (7,322,661 | ) | — | (3,978,217 | ) | |||||||||||||||||||||||||||||||||||||||||
10/31/2010 | 522,991 | — | 141,243 | (897,985 | ) | — | (233,751 | ) | 4,272,321 | — | — | 1,145,053 | — | (7,065,323 | ) | — | (1,647,949 | ) | |||||||||||||||||||||||||||||||||||||||||
Class I | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
10/31/2011 | 7,030,985 | — | 329,211 | (16,139,496 | ) | — | (8,779,300 | ) | 60,667,094 | — | — | 2,824,850 | — | (138,463,131 | ) | — | (74,971,187 | ) | |||||||||||||||||||||||||||||||||||||||||
10/31/2010 | 11,079,060 | — | 793,073 | (16,225,470 | ) | — | (4,353,337 | ) | 88,767,647 | — | — | 6,460,402 | — | (129,642,398 | ) | — | (34,414,349 | ) | |||||||||||||||||||||||||||||||||||||||||
Class W | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
10/31/2011 | 1,339,658 | — | 25,637 | (640,252 | ) | — | 725,043 | 11,650,245 | — | — | 220,522 | — | (5,378,733 | ) | — | 6,492,034 | |||||||||||||||||||||||||||||||||||||||||||
10/31/2010 | 485,261 | — | 11,307 | (157,469 | ) | — | 339,099 | 3,996,867 | — | — | 92,174 | — | (1,255,296 | ) | — | 2,833,745 | |||||||||||||||||||||||||||||||||||||||||||
International SmallCap Multi-Manager | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Class A | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
10/31/2011 | 622,313 | — | 11,418 | (1,662,144 | ) | — | (1,028,413 | ) | 24,861,014 | 43,448 | — | 445,420 | — | (65,716,954 | ) | — | (40,367,072 | ) | |||||||||||||||||||||||||||||||||||||||||
10/31/2010 | 818,452 | — | 46,987 | (2,671,591 | ) | — | (1,806,152 | ) | 27,484,915 | 418,709 | — | 1,540,998 | — | (89,612,983 | ) | — | (60,168,361 | ) | |||||||||||||||||||||||||||||||||||||||||
Class B | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
10/31/2011 | 148 | — | 1 | (59,948 | ) | — | (59,799 | ) | 6,278 | 1,163 | — | 49 | — | (2,536,178 | ) | — | (2,528,688 | ) | |||||||||||||||||||||||||||||||||||||||||
10/31/2010 | 2,789 | — | 673 | (127,761 | ) | — | (124,299 | ) | 98,399 | 16,420 | — | 23,427 | — | (4,445,789 | ) | — | (4,307,543 | ) | |||||||||||||||||||||||||||||||||||||||||
Class C | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
10/31/2011 | 15,965 | — | 15 | (191,906 | ) | — | (175,926 | ) | 598,166 | 10,010 | — | 477 | — | (7,103,227 | ) | — | (6,494,574 | ) | |||||||||||||||||||||||||||||||||||||||||
10/31/2010 | 33,453 | — | 6,523 | (238,730 | ) | — | (198,754 | ) | 1,058,863 | 74,919 | — | 201,523 | — | (7,456,868 | ) | — | (6,121,563 | ) | |||||||||||||||||||||||||||||||||||||||||
Class I | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
10/31/2011 | 1,087,598 | — | 21,402 | (2,380,895 | ) | — | (1,271,895 | ) | 43,168,247 | 70,572 | — | 834,463 | — | (90,223,469 | ) | — | (46,150,187 | ) | |||||||||||||||||||||||||||||||||||||||||
10/31/2010 | 2,065,296 | — | 45,547 | (1,742,521 | ) | — | 368,322 | 69,833,855 | 426,266 | — | 1,490,905 | — | (57,692,823 | ) | — | 14,058,203 | |||||||||||||||||||||||||||||||||||||||||||
Class O | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
10/31/2011 | 23,889 | — | — | (14,538 | ) | — | 9,351 | 947,636 | 597 | — | — | — | (569,560 | ) | — | 378,673 | |||||||||||||||||||||||||||||||||||||||||||
10/31/2010 | 24,913 | — | — | (11,765 | ) | — | 13,148 | 826,270 | 2,233 | — | — | — | (390,320 | ) | — | 438,183 | |||||||||||||||||||||||||||||||||||||||||||
Class Q(2) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
10/31/2011 | — | — | — | — | — | — | — | — | — | — | — | — | — | — | |||||||||||||||||||||||||||||||||||||||||||||
10/31/2010 | 11,395 | — | 7,743 | (7,889 | ) | (910,998 | ) | (899,749 | ) | 402,874 | — | — | 276,272 | — | (280,396 | ) | (31,864,997 | ) | (31,466,247 | ) | |||||||||||||||||||||||||||||||||||||||
Class W | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
10/31/2011 | 223,881 | — | 5,091 | (543,204 | ) | — | (314,232 | ) | 10,339,982 | 10,572 | — | 235,018 | — | (26,455,767 | ) | — | (15,870,195 | ) | |||||||||||||||||||||||||||||||||||||||||
10/31/2010 | 238,386 | — | 7,339 | (462,917 | ) | 841,925 | 624,733 | 9,294,968 | 95,983 | — | 285,158 | — | (18,237,990 | ) | 31,864,997 | 23,303,116 | |||||||||||||||||||||||||||||||||||||||||||
International Value Choice | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Class A | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
10/31/2011 | 700,913 | — | 16,673 | (710,198 | ) | — | 7,388 | 7,732,588 | — | — | 183,909 | — | (7,787,412 | ) | — | 129,085 | |||||||||||||||||||||||||||||||||||||||||||
10/31/2010 | 1,310,027 | — | 11,876 | (864,727 | ) | — | 457,176 | 13,301,696 | — | — | 118,571 | — | (8,753,759 | ) | — | 4,666,508 | |||||||||||||||||||||||||||||||||||||||||||
Class B | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
10/31/2011 | 2,967 | — | — | (62,387 | ) | — | (59,420 | ) | 32,117 | — | — | — | — | (676,895 | ) | — | (644,778 | ) | |||||||||||||||||||||||||||||||||||||||||
10/31/2010 | 31,091 | — | 142 | (110,862 | ) | — | (79,629 | ) | 311,747 | — | — | 1,400 | — | (1,113,782 | ) | — | (800,635 | ) | |||||||||||||||||||||||||||||||||||||||||
Class C | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
10/31/2011 | 102,250 | — | 874 | (137,507 | ) | — | (34,383 | ) | 1,109,821 | — | — | 9,548 | — | (1,454,328 | ) | — | (334,959 | ) | |||||||||||||||||||||||||||||||||||||||||
10/31/2010 | 153,510 | — | 281 | (100,652 | ) | — | 53,139 | 1,531,145 | — | — | 2,772 | — | (1,009,276 | ) | — | 524,641 | |||||||||||||||||||||||||||||||||||||||||||
Class I | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
10/31/2011 | 1,211,619 | — | 14,302 | (2,458,363 | ) | — | (1,232,442 | ) | 13,488,923 | — | — | 157,468 | — | (25,305,252 | ) | — | (11,658,861 | ) | |||||||||||||||||||||||||||||||||||||||||
10/31/2010 | 730,868 | — | 22,826 | (1,997,018 | ) | — | (1,243,324 | ) | 7,510,456 | — | — | 227,476 | — | (20,171,373 | ) | — | (12,433,441 | ) | |||||||||||||||||||||||||||||||||||||||||
Class W | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
10/31/2011 | 6,762 | — | 47 | (3,616 | ) | — | 3,193 | 75,798 | — | — | 516 | — | (40,182 | ) | — | 36,132 | |||||||||||||||||||||||||||||||||||||||||||
10/31/2010 | 3,055 | — | — | (327 | ) | — | 2,728 | 30,970 | — | — | — | — | (3,196 | ) | — | 27,774 |
(1) | Commencement of operations. |
(2) | Effective November 20, 2009, Class Q shareholders of Global Value Choice, Global Opportunities, International SmallCap Multi-Manager and International Value were converted to Class W shares of each respective Fund. |
Year or | Shares sold | Shares issued in merger | Reinvestment of distributions | Shares redeemed | Shares converted | Net increase (decrease) in shares outstanding | Shares sold | Payments from Distribution settlement/ affiliate (Note 17) | Proceeds from shares issued in merger | Reinvestment of distributions | Redemption fee proceeds | Shares redeemed | Shares converted | Net increase (decrease) | |||||||||||||||||||||||||||||||||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
period ended | # | # | # | # | # | # | ($) | $ | ($) | ($) | $ | ($) | $ | ($) | |||||||||||||||||||||||||||||||||||||||||||||
International Value | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Class A | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
10/31/2011 | 2,713,615 | — | 687,338 | (21,092,834 | ) | — | (17,691,881 | ) | 31,514,665 | 48,376 | — | 7,909,938 | — | (245,656,346 | ) | — | (206,183,367 | ) | |||||||||||||||||||||||||||||||||||||||||
10/31/2010 | 7,026,226 | — | 710,866 | (25,323,864 | ) | — | (17,586,772 | ) | 78,387,641 | 1,067,929 | — | 8,359,125 | — | (284,580,757 | ) | — | (196,766,062 | ) | |||||||||||||||||||||||||||||||||||||||||
Class B | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
10/31/2011 | 953 | — | 5 | (134,706 | ) | — | (133,748 | ) | 15,458 | 233 | — | 57 | — | (1,596,187 | ) | — | (1,580,439 | ) | |||||||||||||||||||||||||||||||||||||||||
10/31/2010 | 21,536 | — | 9,206 | (3,151,447 | ) | — | (3,120,705 | ) | 252,668 | 36,943 | — | 106,986 | — | (34,636,502 | ) | — | (34,239,905 | ) | |||||||||||||||||||||||||||||||||||||||||
Class C | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
10/31/2011 | 125,441 | — | 190,553 | (5,369,143 | ) | — | (5,053,149 | ) | 1,422,732 | 21,392 | — | 2,131,679 | — | (60,913,970 | ) | — | (57,338,167 | ) | |||||||||||||||||||||||||||||||||||||||||
10/31/2010 | 181,612 | — | 173,077 | (7,377,003 | ) | — | (7,022,314 | ) | 2,030,780 | 413,632 | — | 1,980,048 | — | (80,336,446 | ) | — | (75,911,986 | ) | |||||||||||||||||||||||||||||||||||||||||
Class I | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
10/31/2011 | 10,647,783 | — | 658,850 | (25,034,873 | ) | — | (13,728,240 | ) | 125,628,816 | 45,553 | — | 7,549,252 | — | (291,421,213 | ) | — | (158,197,592 | ) | |||||||||||||||||||||||||||||||||||||||||
10/31/2010 | 8,233,085 | — | 725,981 | (24,554,669 | ) | — | (15,595,603 | ) | 92,823,046 | 990,243 | — | 8,507,693 | — | (272,895,909 | ) | — | (170,574,927 | ) | |||||||||||||||||||||||||||||||||||||||||
Class Q(2) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
10/31/2011 | — | — | — | — | — | — | — | — | — | — | — | — | — | — | |||||||||||||||||||||||||||||||||||||||||||||
10/31/2010 | 31,392 | — | 24,859 | (5,338 | ) | (2,194,061 | ) | (2,143,148 | ) | 360,000 | — | — | 293,336 | — | (63,436 | ) | (25,186,398 | ) | (24,596,498 | ) | |||||||||||||||||||||||||||||||||||||||
Class W | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
10/31/2011 | 11,107 | — | 46,331 | (2,099,066 | ) | — | (2,041,628 | ) | 128,517 | 70 | — | 530,953 | — | (24,170,447 | ) | — | (23,510,907 | ) | |||||||||||||||||||||||||||||||||||||||||
10/31/2010 | 254,958 | — | 4,697 | (374,961 | ) | 2,198,715 | 2,083,409 | 2,705,165 | 36,222 | — | 53,646 | — | (4,246,495 | ) | 25,186,398 | 23,734,936 | |||||||||||||||||||||||||||||||||||||||||||
Russia | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Class A | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
10/31/2011 | 1,257,704 | — | — | (3,228,676 | ) | — | (1,970,972 | ) | 51,432,518 | — | — | — | (180,692 | ) | (124,889,133 | ) | — | (73,275,923 | ) | ||||||||||||||||||||||||||||||||||||||||
10/31/2010 | 1,844,234 | — | — | (3,034,687 | ) | — | (1,190,453 | ) | 62,096,502 | — | — | — | 369,837 | (99,820,501 | ) | — | (37,354,162 | ) | |||||||||||||||||||||||||||||||||||||||||
Class I | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
10/31/2011 | 263,755 | — | — | (174,657 | ) | — | 89,098 | 10,631,704 | — | — | — | (37,248 | ) | (6,576,891 | ) | — | 4,092,061 | ||||||||||||||||||||||||||||||||||||||||||
10/31/2010 | 267,155 | — | — | (64,795 | ) | — | 222,360 | 9,612,750 | — | — | — | 4,943 | (2,164,098 | ) | — | 7,453,595 | |||||||||||||||||||||||||||||||||||||||||||
Class W | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
8/5/2011(1)-10/31/2011 | 76 | — | — | — | — | 76 | 3,001 | — | — | — | — | — | — | 3,001 | |||||||||||||||||||||||||||||||||||||||||||||
(1) | Commencement of operations. |
(2) | Effective November 20, 2009, Class Q shareholders of Global Value Choice, Global Opportunities, International SmallCap Multi-Manager and International Value were converted to Class W shares of each respective Fund. |
security value and interest rate, all of which could affect the market and/or credit risk of the Funds’ and Underlying Funds’ investments.
Fund | Value of Securities Loaned | Cash Collateral Received | ||||||||
---|---|---|---|---|---|---|---|---|---|---|
Emerging Countries | $ | 2,083,910 | $ | 2,183,135 | ||||||
Global Equity Dividend | 1,197,381 | 1,245,467 | ||||||||
Global Opportunities | 1,638,726 | 1,758,983 | ||||||||
Global Real Estate | 12,341,098 | 13,315,857 | ||||||||
Global Value Choice | $ | 16,365,834 | $ | 17,062,175 | ||||||
International Capital Appreciation | 761,000 | 795,990 | ||||||||
International Growth | 2,652,822 | 2,785,702 | ||||||||
International SmallCap Multi-Manager | 248,991 | 285,403 | ||||||||
International Value | 501,843 | 518,447 | ||||||||
Russia | 16,462,000 | 17,109,010 |
Paid-in Capital | Undistributed Net Investment Income on Investments | Accumulated Net Realized Gains/(Losses) | ||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Diversified International | $ | 3,478 | $ | (3,478 | ) | $ | — | |||||||
Emerging Countries | 268,489 | (535,114 | ) | 266,625 | ||||||||||
Emerging Markets Equity | (2,864 | ) | (28,875 | ) | 31,739 | |||||||||
Global Bond | — | 805,359 | (805,359 | ) | ||||||||||
Global Equity Dividend | 2,384 | (339,875 | ) | 337,491 | ||||||||||
Global Natural Resources | (65,866 | ) | 61,136 | 4,730 | ||||||||||
Global Opportunities | (308,451 | ) | 174,008 | 134,443 | ||||||||||
Global Real Estate(1)(2) | — | 76,774,077 | (76,774,077 | ) | ||||||||||
Global Value Choice | — | 395,554 | (395,554 | ) | ||||||||||
Greater China | (32,805 | ) | (81,105 | ) | 113,910 | |||||||||
Index Plus International Equity | — | 315,516 | (315,516 | ) | ||||||||||
International Capital Appreciation | — | (79,538 | ) | 79,538 | ||||||||||
International Core | (22,334 | ) | (920,836 | ) | 943,170 | |||||||||
International Growth | (18,779 | ) | (67,334 | ) | 86,113 | |||||||||
International Real Estate | (1 | ) | 1,338,451 | (1,338,450 | ) | |||||||||
International SmallCap Multi-Manager | (47,125 | ) | (175,728 | ) | 222,853 | |||||||||
International Value Choice | — | 236 | (236 | ) | ||||||||||
International Value | (39,960 | ) | (74,758 | ) | 114,718 | |||||||||
Russia | (1,263,591 | ) | 1,249,849 | 13,742 |
(1) | As of the Fund’s tax year ended December 31, 2010. |
(2) | $77,374,663 relates to the tax treatment of passive foreign investment companies. |
Year Ended October 31, 2011 | Year Ended October 31, 2010 | ||||||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Ordinary Income | Return of Capital | Ordinary Income | Return of Capital | ||||||||||||||||
Diversified International | $ | 1,061,111 | $ | 191,335 | $ | 927,344 | $ | 293,887 | |||||||||||
Emerging Countries | 113,431 | — | — | — | |||||||||||||||
Global Bond | 32,360,506 | — | 24,041,636 | — | |||||||||||||||
Global Equity Dividend | 2,094,033 | — | 3,235,341 | — | |||||||||||||||
Global Natural Resources | 53,412 | — | 302,907 | — |
Year Ended October 31, 2011 | Year Ended October 31, 2010 | ||||||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Ordinary Income | Return of Capital | Ordinary Income | Return of Capital | ||||||||||||||||
Global Opportunities | $ | 2,210,341 | $ | — | $ | — | $ | — | |||||||||||
Global Real Estate(1) | 96,683,542 | — | 102,494,757 | — | |||||||||||||||
Global Value Choice | 8,011,477 | — | 1,050,663 | — | |||||||||||||||
Greater China | 456,558 | — | 676,212 | — | |||||||||||||||
Index Plus International Equity | 2,092,268 | — | 2,113,264 | — | |||||||||||||||
International Capital Appreciation | 617,483 | — | — | — | |||||||||||||||
International Real Estate | 33,254,520 | — | 41,280,971 | — | |||||||||||||||
International SmallCap Multi-Manager | 2,615,060 | — | 5,964,767 | — | |||||||||||||||
International Value Choice | 391,851 | — | 364,324 | — | |||||||||||||||
International Value | 23,226,893 | — | 26,116,194 | — |
(1) | Composition of dividends and distributions presented herein is based on the Fund’s tax year-ends of December 31, 2010 and December 31, 2009. |
Undistributed Ordinary Income | Undistributed Long-Term Capital Gains | Unrealized Appreciation/ (Depreciation) | Capital Loss Carryforwards | Expiration Dates | ||||||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Diversified International | $ | — | $ | — | $ | (6,674,750 | ) | $ | (28,060,058 | ) | 2016 | |||||||||||
(93,445,922 | ) | 2017 | ||||||||||||||||||||
(33,117,873 | ) | 2018 | ||||||||||||||||||||
(824,702 | ) | 2019 | ||||||||||||||||||||
$ | (155,448,555 | ) | ||||||||||||||||||||
Emerging Countries | — | — | 8,140,668 | (34,410,065 | ) | 2016 | ||||||||||||||||
(41,200,730 | ) | 2017 | ||||||||||||||||||||
$ | (75,610,795 | ) | ||||||||||||||||||||
Emerging Markets Equity | 170,335 | 238,655 | 5,920,296 | — | — | |||||||||||||||||
Global Bond | 8,144,042 | 6,774,863 | (6,088,537 | ) | — | — | ||||||||||||||||
Global Equity Dividend | 145,373 | — | (2,471,040 | ) | (11,027,596 | ) | 2016 | |||||||||||||||
(71,676,150 | ) | 2017 | ||||||||||||||||||||
$ | (82,703,746 | ) | ||||||||||||||||||||
Global Natural Resources | — | — | 12,800,832 | (14,439,138 | ) | 2017 | ||||||||||||||||
Global Opportunities | — | — | 3,787,774 | (32,434,268 | ) | 2016 | ||||||||||||||||
(80,200,325 | ) | 2017 | ||||||||||||||||||||
$ | (112,634,593 | ) | ||||||||||||||||||||
Global Real Estate(1)(2) | 16,510,527 | — | 395,668,017 | (164,232,218 | ) | 2016 | ||||||||||||||||
(414,424,595 | ) | 2017 | ||||||||||||||||||||
(79,668,453 | ) | 2018 | ||||||||||||||||||||
$ | (658,325,266 | ) | ||||||||||||||||||||
Global Value Choice | 31,929,361 | 29,040,761 | (22,000,980 | ) | — | — | ||||||||||||||||
Greater China | — | — | 1,020,998 | (116,039 | ) | 2017 | ||||||||||||||||
Index Plus International Equity | 2,232,942 | — | 1,903,233 | (27,339,841 | ) | 2016 | ||||||||||||||||
(46,742,747 | ) | 2017 | ||||||||||||||||||||
$ | (74,082,588 | ) | ||||||||||||||||||||
International Capital Appreciation | 216,672 | — | (2,445,237 | ) | (34,958,241 | ) | 2016 | |||||||||||||||
(14,842,759 | ) | 2017 | ||||||||||||||||||||
$ | (49,801,000 | ) | ||||||||||||||||||||
International Core | 2,806,773 | — | (25,065,340 | ) | (16,908,766 | ) | 2019 | |||||||||||||||
International Growth | 3,010,653 | — | (14,187,336 | ) | — | — |
Undistributed Ordinary Income | Undistributed Long-Term Capital Gains | Unrealized Appreciation/ (Depreciation) | Capital Loss Carryforwards | Expiration Dates | ||||||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
International Real Estate | $ | 1,028,620 | $ | — | $ | (13,011,772 | ) | $ | (26,312 | ) | 2014 | |||||||||||
(2,556,095 | ) | 2015 | ||||||||||||||||||||
(67,952,089 | ) | 2016 | ||||||||||||||||||||
(159,911,905 | ) | 2017 | ||||||||||||||||||||
(43,046,092 | ) | 2018 | ||||||||||||||||||||
(4,399,061 | ) | 2019 | ||||||||||||||||||||
$ | (277,891,554 | ) | ||||||||||||||||||||
International SmallCap Multi-Manager | 4,065,962 | — | 1,483,935 | (77,906,736 | ) | 2016 | ||||||||||||||||
(202,973,948 | ) | 2017 | ||||||||||||||||||||
$ | (280,880,684 | ) | ||||||||||||||||||||
International Value Choice | 725,910 | — | (2,450,294 | ) | (14,545,893 | ) | 2017 | |||||||||||||||
(362,042 | ) | 2019 | ||||||||||||||||||||
$ | (14,907,935 | ) | ||||||||||||||||||||
International Value | 16,474,089 | — | (96,572,670 | ) | (810,539,013 | ) | 2017 | |||||||||||||||
(70,133,094 | ) | 2018 | ||||||||||||||||||||
(8,757,263 | ) | 2019 | ||||||||||||||||||||
$ | (889,429,370 | ) | ||||||||||||||||||||
Russia | — | — | 60,506,771 | (66,111,223 | ) | 2017 | ||||||||||||||||
(21,810,157 | ) | 2018 | ||||||||||||||||||||
$ | (87,921,380 | ) |
(1) | As of the Fund’s tax year ended December 31, 2010. |
(2) | The Fund also had post-October capital losses deferred of $19,821,259 and post-October currency losses deferred of $79,220. |
* | Utilization of these capital losses is subject to annual limitations under Section 382 of the Internal Revenue Code. |
Emerging Countries | $ | 1,400,280 | ||||
Index Plus International Equity | 497,810 | |||||
International SmallCap Multi-Manager | 2,661,920 | |||||
International Value | 955,441 |
Global Value Choice | $ | 389,524 | ||||
Index Plus International Equity | 14,363 | |||||
International Capital Appreciation | 17,464 | |||||
International SmallCap Multi-Manager | 1,034,530 | |||||
International Value | 2,544,969 |
International SmallCap Multi-Manager | $ | 136,362 | ||||
International Value | 115,624 |
Net Investment Income | Short-Term Capital Gains | Long-Term Capital Gains | Payable Date | Record Date | |||||||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Emerging Markets Equity | |||||||||||||||||||||||
Class A | $ — | $0.0206 | $0.0288 | December 19, 2011 | December 15, 2011 | ||||||||||||||||||
Class C | $ — | $0.0206 | $0.0288 | December 19, 2011 | December 15, 2011 | ||||||||||||||||||
Class I | $ — | $0.0206 | $0.0288 | December 19, 2011 | December 15, 2011 | ||||||||||||||||||
Class R | $ — | $0.0206 | $0.0288 | December 19, 2011 | December 15, 2011 | ||||||||||||||||||
Class W | $ — | $0.0206 | $0.0288 | December 19, 2011 | December 15, 2011 | ||||||||||||||||||
Global Bond | |||||||||||||||||||||||
Class A | $0.0417 | $ — | $ — | November 2, 2011 | October 31, 2011 | ||||||||||||||||||
Class B | $0.0345 | $ — | $ — | November 2, 2011 | October 31, 2011 | ||||||||||||||||||
Class C | $0.0344 | $ — | $ — | November 2, 2011 | October 31, 2011 | ||||||||||||||||||
Class I | $0.0446 | $ — | $ — | November 2, 2011 | October 31, 2011 | ||||||||||||||||||
Class O | $0.0417 | $ — | $ — | November 2, 2011 | October 31, 2011 | ||||||||||||||||||
Class R | $0.0384 | $ — | $ — | November 2, 2011 | October 31, 2011 | ||||||||||||||||||
Class W | $0.0441 | $ — | $ — | November 2, 2011 | October 31, 2011 | ||||||||||||||||||
Class A | $0.0415 | $ — | $ — | December 2, 2011 | November 30, 2011 |
Net Investment Income | Short-Term Capital Gains | Long-Term Capital Gains | Payable Date | Record Date | |||||||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Global Bond (continued) | |||||||||||||||||||||||
Class B | $0.0344 | $ — | $ — | December 2, 2011 | November 30, 2011 | ||||||||||||||||||
Class C | $0.0345 | $ — | $ — | December 2, 2011 | November 30, 2011 | ||||||||||||||||||
Class I | $0.0444 | $ — | $ — | December 2, 2011 | November 30, 2011 | ||||||||||||||||||
Class O | $0.0415 | $ — | $ — | December 2, 2011 | November 30, 2011 | ||||||||||||||||||
Class R | $0.0385 | $ — | $ — | December 2, 2011 | November 30, 2011 | ||||||||||||||||||
Class W | $0.0439 | $ — | $ — | December 2, 2011 | November 30, 2011 | ||||||||||||||||||
Class A | $ — | $0.1476 | $0.1228 | December 19, 2011 | December 15, 2011 | ||||||||||||||||||
Class B | $ — | $0.1476 | $0.1228 | December 19, 2011 | December 15, 2011 | ||||||||||||||||||
Class C | $ — | $0.1476 | $0.1228 | December 19, 2011 | December 15, 2011 | ||||||||||||||||||
Class I | $ — | $0.1476 | $0.1228 | December 19, 2011 | December 15, 2011 | ||||||||||||||||||
Class O | $ — | $0.1476 | $0.1228 | December 19, 2011 | December 15, 2011 | ||||||||||||||||||
Class R | $ — | $0.1476 | $0.1228 | December 19, 2011 | December 15, 2011 | ||||||||||||||||||
Class W | $ — | $0.1476 | $0.1228 | December 19, 2011 | December 15, 2011 | ||||||||||||||||||
Global Natural Resources | |||||||||||||||||||||||
Class A | $0.0132 | $ — | $ — | December 19, 2011 | December 15, 2011 | ||||||||||||||||||
Class I | $0.0157 | $ — | $ — | December 19, 2011 | December 15, 2011 | ||||||||||||||||||
Class W | $0.0159 | $ — | $ — | December 19, 2011 | December 15, 2011 | ||||||||||||||||||
Global Value Choice | |||||||||||||||||||||||
Class A | $0.3054 | $1.4720 | $1.5798 | December 19, 2011 | December 15, 2011 | ||||||||||||||||||
Class B | $ — | $1.4720 | $1.5798 | December 19, 2011 | December 15, 2011 | ||||||||||||||||||
Class C | $0.0847 | $1.4720 | $1.5798 | December 19, 2011 | December 15, 2011 | ||||||||||||||||||
Class I | $0.4300 | $1.4720 | $1.5798 | December 19, 2011 | December 15, 2011 | ||||||||||||||||||
Class W | $0.3871 | $1.4720 | $1.5798 | December 19, 2011 | December 15, 2011 | ||||||||||||||||||
Index Plus International Equity | |||||||||||||||||||||||
Class A | $0.1853 | $ — | $ — | December 19, 2011 | December 15, 2011 | ||||||||||||||||||
Class B | $0.0932 | $ — | $ — | December 19, 2011 | December 15, 2011 | ||||||||||||||||||
Class C | $0.1217 | $ — | $ — | December 19, 2011 | December 15, 2011 | ||||||||||||||||||
Class I | $0.2229 | $ — | $ — | December 19, 2011 | December 15, 2011 | ||||||||||||||||||
Class O | $0.1864 | $ — | $ — | December 19, 2011 | December 15, 2011 | ||||||||||||||||||
Class W | $0.2191 | $ — | $ — | December 19, 2011 | December 15, 2011 | ||||||||||||||||||
International Capital Appreciation | |||||||||||||||||||||||
Class A | $0.0550 | $ — | $ — | December 19, 2011 | December 15, 2011 | ||||||||||||||||||
Class B | $ — | $ — | $ — | December 19, 2011 | December 15, 2011 | ||||||||||||||||||
Class C | $ — | $ — | $ — | December 19, 2011 | December 15, 2011 | ||||||||||||||||||
Class I | $0.0936 | $ — | $ — | December 19, 2011 | December 15, 2011 | ||||||||||||||||||
Class W | $0.0776 | $ — | $ — | December 19, 2011 | December 15, 2011 | ||||||||||||||||||
International Core | |||||||||||||||||||||||
Class I | $0.0762 | $ — | $ — | December 19, 2011 | December 15, 2011 | ||||||||||||||||||
International Growth | |||||||||||||||||||||||
Class I | $0.1470 | $0.0374 | $ — | December 19, 2011 | December 15, 2011 | ||||||||||||||||||
International SmallCap Multi-Manager | |||||||||||||||||||||||
Class A | $0.5705 | $ — | $ — | December 19, 2011 | December 15, 2011 | ||||||||||||||||||
Class B | $0.1651 | $ — | $ — | December 19, 2011 | December 15, 2011 | ||||||||||||||||||
Class C | $0.3323 | $ — | $ — | December 19, 2011 | December 15, 2011 | ||||||||||||||||||
Class I | $0.7676 | $ — | $ — | December 19, 2011 | December 15, 2011 | ||||||||||||||||||
Class O | $0.6457 | $ — | $ — | December 19, 2011 | December 15, 2011 | ||||||||||||||||||
Class W | $0.7165 | $ — | $ — | December 19, 2011 | December 15, 2011 | ||||||||||||||||||
International Value Choice | |||||||||||||||||||||||
Class A | $0.2727 | $ — | $ — | December 19, 2011 | December 15, 2011 | ||||||||||||||||||
Class B | $0.1484 | $ — | $ — | December 19, 2011 | December 15, 2011 | ||||||||||||||||||
Class C | $0.1833 | $ — | $ — | December 19, 2011 | December 15, 2011 | ||||||||||||||||||
Class I | $0.3032 | $ — | $ — | December 19, 2011 | December 15, 2011 | ||||||||||||||||||
Class W | $0.3013 | $ — | $ — | December 19, 2011 | December 15, 2011 |
Net Investment Income | Short-Term Capital Gains | Long-Term Capital Gains | Payable Date | Record Date | ||||||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
International Value | ||||||||||||||||||||||
Class A | $0.2786 | $ — | $ — | December 19, 2011 | December 15, 2011 | |||||||||||||||||
Class B | $0.1626 | $ — | $ — | December 19, 2011 | December 15, 2011 | |||||||||||||||||
Class C | $0.1944 | $ — | $ — | December 19, 2011 | December 15, 2011 | |||||||||||||||||
Class I | $0.3320 | $ — | $ — | December 19, 2011 | December 15, 2011 | |||||||||||||||||
Class W | $0.3148 | $ — | $ — | December 19, 2011 | December 15, 2011 |
AS OF OCTOBER 31, 2011
Shares | | | | Value | | Percentage of Net Assets | |||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
AFFILIATED INVESTMENT COMPANIES: 101.5% | |||||||||||||||||||
1,818,677 | @ | ING Emerging Markets Equity Fund — Class I | $ | 19,532,586 | 15.4 | ||||||||||||||
4,384,121 | @ | ING International Core Fund — Class I | 38,711,784 | 30.5 | |||||||||||||||
2,765,024 | @ | ING International Growth Fund — Class I | 25,714,722 | 20.2 | |||||||||||||||
828,994 | ING International Real Estate Fund — Class I | 6,482,737 | 5.1 | ||||||||||||||||
364,249 | ING International SmallCap Multi-Manager Fund — Class I | 12,930,827 | 10.2 | ||||||||||||||||
2,418,625 | ING International Value Fund — Class I | $ | 25,589,049 | 20.1 | |||||||||||||||
Total Investments in Affiliated Investment Companies | |||||||||||||||||||
(Cost $127,761,700) | $ | 128,961,705 | 101.5 | ||||||||||||||||
Liabilities in Excess of Other Assets | (1,899,264 ) | (1.5 | ) | ||||||||||||||||
Net Assets | $ | 127,062,441 | 100.0 |
@ | Non-income producing security |
Cost for federal income tax purposes is $135,636,455. |
Net unrealized depreciation consists of: | ||||||
Gross Unrealized Appreciation | $ | 6,864,852 | ||||
Gross Unrealized Depreciation | (13,539,602 | ) | ||||
Net Unrealized depreciation | $ | (6,674,750 | ) |
Quoted Prices in Active Markets for Identical Investments (Level 1) | Significant Other Observable Inputs (Level 2) | Significant Unobservable Inputs (Level 3) | Fair Value at 10/31/2011 | |||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Asset Table | ||||||||||||||||||
Investments, at value | ||||||||||||||||||
Affiliated Investment Companies | $ | 128,961,705 | $ | — | $ | — | $ | 128,961,705 | ||||||||||
Total Investments, at value | $ | 128,961,705 | $ | — | $ | — | $ | 128,961,705 |
ˆ | See Note 2, “Significant Accounting Policies” in the Notes to Financial Statements for additional information. |
AS OF OCTOBER 31, 2011
Shares | | | | Value | | Percentage of Net Assets | |||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
COMMON STOCK: 92.2% | |||||||||||||||||||
Brazil: 13.0% | |||||||||||||||||||
40,797 | Banco do Brasil S.A. | $ | 622,583 | 0.7 | |||||||||||||||
120,519 | BM&F Bovespa S.A. | 725,143 | 0.8 | ||||||||||||||||
56,059 | BR Malls Participacoes S.A. | 608,964 | 0.7 | ||||||||||||||||
34,194 | Itau Unibanco Holding SA ADR | 653,789 | 0.8 | ||||||||||||||||
80,488 | @ | OGX Petroleo e Gas Participacoes S.A. | 674,152 | 0.8 | |||||||||||||||
21,502 | Petroleo Brasileiro SA ADR | 543,785 | 0.6 | ||||||||||||||||
70,847 | Petroleo Brasileiro SA | 959,840 | 1.1 | ||||||||||||||||
33,485 | Vale SA | 850,854 | 1.0 | ||||||||||||||||
72,312 | Vale SA | 1,844,812 | 2.2 | ||||||||||||||||
245,913 | Other Securities | 3,679,697 | 4.3 | ||||||||||||||||
11,163,619 | 13.0 | ||||||||||||||||||
Canada: 0.7% | |||||||||||||||||||
26,695 | Pacific Rubiales Energy Corp. | 622,415 | 0.7 | ||||||||||||||||
China: 17.4% | |||||||||||||||||||
1,946,218 | China Construction Bank | 1,429,955 | 1.7 | ||||||||||||||||
230,800 | China Mobile Ltd. | 2,193,602 | 2.5 | ||||||||||||||||
780,700 | China Petroleum & Chemical Corp. | 738,331 | 0.9 | ||||||||||||||||
766,700 | CNOOC Ltd. | 1,449,339 | 1.7 | ||||||||||||||||
1,844,325 | Industrial and Commercial Bank of China Ltd. | 1,151,713 | 1.3 | ||||||||||||||||
9,764,667 | Other Securities | 7,962,405 | 9.3 | ||||||||||||||||
14,925,345 | 17.4 | ||||||||||||||||||
Hong Kong: 0.9% | |||||||||||||||||||
382,800 | Other Securities | 767,265 | 0.9 | ||||||||||||||||
India: 8.0% | |||||||||||||||||||
18,464 | Hero Honda Motors Ltd | 823,310 | 1.0 | ||||||||||||||||
68,792 | Housing Development Finance Corp. | 967,800 | 1.1 | ||||||||||||||||
23,362 | Larsen & Toubro Ltd. | 673,703 | 0.8 | ||||||||||||||||
539,361 | Other Securities | 4,356,646 | 5.1 | ||||||||||||||||
6,821,459 | 8.0 | ||||||||||||||||||
Indonesia: 2.8% | |||||||||||||||||||
1,063,496 | Bank Mandiri Persero TBK PT | 848,337 | 1.0 | ||||||||||||||||
163,200 | Indo Tambangraya Megah PT | 814,134 | 1.0 | ||||||||||||||||
846,600 | Telekomunikasi Indonesia Tbk PT | 706,053 | 0.8 | ||||||||||||||||
2,368,524 | 2.8 | ||||||||||||||||||
Luxembourg: 0.5% | |||||||||||||||||||
17,288 | Other Securities | 424,248 | 0.5 | ||||||||||||||||
Macau: 0.7% | |||||||||||||||||||
201,600 | @ | Sands China Ltd. | 605,846 | 0.7 | |||||||||||||||
Malaysia: 1.0% | |||||||||||||||||||
364,200 | Other Securities | 820,103 | 1.0 | ||||||||||||||||
COMMON STOCK: (continued) | |||||||||||||||||||
Mexico: 3.4% | |||||||||||||||||||
64,506 | America Movil SAB de CV ADR | $ | 1,639,742 | 1.9 | |||||||||||||||
172,722 | Mexichem SA de CV | 595,526 | 0.7 | ||||||||||||||||
272,358 | Wal-Mart de Mexico SA de CV | 703,018 | 0.8 | ||||||||||||||||
2,938,286 | 3.4 | ||||||||||||||||||
Panama: 0.4% | |||||||||||||||||||
4,784 | Other Securities | 330,431 | 0.4 | ||||||||||||||||
Peru: 0.7% | |||||||||||||||||||
5,545 | Credicorp Ltd. | 603,185 | 0.7 | ||||||||||||||||
Philippines: 0.4% | |||||||||||||||||||
2,651,600 | Other Securities | 376,210 | 0.4 | ||||||||||||||||
Russia: 7.8% | |||||||||||||||||||
29,836 | L | Eurasia Drilling Company Ltd. GDR | 704,130 | 0.8 | |||||||||||||||
133,073 | Gazprom OAO ADR | 1,552,962 | 1.8 | ||||||||||||||||
8,136 | NovaTek OAO GDR | 1,135,199 | 1.4 | ||||||||||||||||
603,766 | Sberbank of Russian Federation | 1,632,435 | 1.9 | ||||||||||||||||
19,776 | @ | X5 Retail Group N.V. GDR | 592,677 | 0.7 | |||||||||||||||
106,712 | Other Securities | 1,049,344 | 1.2 | ||||||||||||||||
6,666,747 | 7.8 | ||||||||||||||||||
South Africa: 5.4% | |||||||||||||||||||
14,639 | AngloGold Ashanti Ltd | 661,663 | 0.8 | ||||||||||||||||
69,920 | MTN Group Ltd. | 1,215,266 | 1.4 | ||||||||||||||||
27,727 | Naspers Ltd. | 1,315,367 | 1.5 | ||||||||||||||||
207,560 | Other Securities | 1,441,688 | 1.7 | ||||||||||||||||
4,633,984 | 5.4 | ||||||||||||||||||
South Korea: 14.9% | |||||||||||||||||||
69,700 | @ | BS Financial Group, Inc. | 767,120 | 0.9 | |||||||||||||||
2,936 | @ | E-Mart Co. Ltd. | 766,984 | 0.9 | |||||||||||||||
3,633 | Hyundai Mobis | 1,039,733 | 1.2 | ||||||||||||||||
32,752 | KB Financial Group, Inc. | 1,268,874 | 1.5 | ||||||||||||||||
17,594 | Kia Motors Corp. | 1,127,984 | 1.3 | ||||||||||||||||
2,772 | LG Chem Ltd. | 894,486 | 1.1 | ||||||||||||||||
2,719 | Posco | 942,102 | 1.1 | ||||||||||||||||
4,400 | Samsung Electronics Co., Ltd. | 3,787,789 | 4.4 | ||||||||||||||||
4,230 | Samsung Engineering Co. Ltd | 863,976 | 1.0 | ||||||||||||||||
9,063 | # | Samsung Life Insurance Co. Ltd. | 702,888 | 0.8 | |||||||||||||||
4,435 | Other Securities | 573,720 | 0.7 | ||||||||||||||||
12,735,656 | 14.9 | ||||||||||||||||||
Taiwan: 10.5% | |||||||||||||||||||
579,725 | China Life Insurance Co., Ltd. | 642,539 | 0.7 | ||||||||||||||||
468,130 | Hon Hai Precision Industry Co., Ltd. | 1,283,321 | 1.5 |
AS OF OCTOBER 31, 2011 (CONTINUED)
Shares | | | | Value | | Percentage of Net Assets | |||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
COMMON STOCK: (continued) | |||||||||||||||||||
Taiwan: (continued) | |||||||||||||||||||
36,300 | HTC Corp. | $ | 815,790 | 1.0 | |||||||||||||||
943,431 | Taiwan Semiconductor Manufacturing Co., Ltd. | 2,299,025 | 2.7 | ||||||||||||||||
2,574,121 | Other Securities | 3,985,905 | 4.6 | ||||||||||||||||
9,026,580 | 10.5 | ||||||||||||||||||
Thailand: 1.5% | |||||||||||||||||||
84,600 | PTT PCL | 834,081 | 1.0 | ||||||||||||||||
127,000 | Other Securities | 479,977 | 0.5 | ||||||||||||||||
1,314,058 | 1.5 | ||||||||||||||||||
Turkey: 1.6% | |||||||||||||||||||
143,401 | Turk Telekomunikasyon AS | 608,181 | 0.7 | ||||||||||||||||
169,725 | Other Securities | 744,551 | 0.9 | ||||||||||||||||
1,352,732 | 1.6 | ||||||||||||||||||
United Kingdom: 0.6% | |||||||||||||||||||
25,260 | Other Securities | 470,139 | 0.6 | ||||||||||||||||
Total Common Stock | |||||||||||||||||||
(Cost $65,409,751) | 78,966,832 | 92.2 | |||||||||||||||||
EXCHANGE-TRADED FUNDS: 3.7% | |||||||||||||||||||
141,310 | iShares MSCI Malaysia Index Fund | 1,961,383 | 2.3 | ||||||||||||||||
51,558 | iShares MSCI Taiwan Index Fund | 666,645 | 0.8 | ||||||||||||||||
81,300 | Other Securities | 518,694 | 0.6 | ||||||||||||||||
Total Exchange-Traded Funds | |||||||||||||||||||
(Cost $3,107,791) | 3,146,722 | 3.7 | |||||||||||||||||
PREFERRED STOCK: 1.2% | |||||||||||||||||||
Brazil: 1.2% | |||||||||||||||||||
131,188 | Other Securities | 1,033,627 | 1.2 | ||||||||||||||||
Total Preferred Stock | |||||||||||||||||||
(Cost $1,362,707) | 1,033,627 | 1.2 | |||||||||||||||||
Total Long-Term Investments | |||||||||||||||||||
(Cost $69,880,249) | 83,147,181 | 97.1 |
Principal Amount† | | | | Value | | Percentage of Net Assets | |||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
SHORT-TERM INVESTMENTS: 2.5% | |||||||||||||||||||
Securities Lending Collateralcc(1): 2.5% | |||||||||||||||||||
1,000,000 | Cantor Fitzgerald, Repurchase Agreement dated 10/31/11, 0.15%, due 11/01/11 (Principal Amount $1,000,000, collateralized by various U.S. Government Agency Obligations, 0.742%–6.579%, Market Value plus accrued interest $1,020,000, due 11/01/15–03/01/48) | 1,000,000 | 1.1 |
Principal Amount† | | | | Value | | Percentage of Net Assets | |||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
SHORT-TERM INVESTMENTS: (continued) | |||||||||||||||||||
Securities Lending Collateralcc(1): (continued) | |||||||||||||||||||
183,135 | Deutsche Bank AG, Repurchase Agreement dated 10/31/11, 0.12%, due 11/01/11 (Principal Amount $183,135, collateralized by various U.S. Government Agency Obligations, 1.750%–7.000%, Market Value plus accrued interest $186,798, due 07/01/12–10/01/41) | $ | 183,135 | 0.2 | |||||||||||||||
1,000,000 | Merrill Lynch & Co., Inc., Repurchase Agreement dated 10/31/11, 0.12%, due 11/01/11 (Principal Amount $1,000,000 collateralized by various U.S. Government Agency Obligations, 3.000%–6.000%, Market Value plus accrued interest $1,020,069, due 09/01/21–11/01/41) | 1,000,000 | 1.2 | ||||||||||||||||
2,183,135 | 2.5 | ||||||||||||||||||
Total Short-Term Investments | |||||||||||||||||||
(Cost $2,183,135) | 2,183,135 | 2.5 | |||||||||||||||||
Total Investments in Securities | |||||||||||||||||||
(Cost $72,063,384) | $ | 85,330,316 | 99.6 | ||||||||||||||||
Assets in Excess of Other Liabilities | 377,935 | 0.4 | |||||||||||||||||
Net Assets | $ | 85,708,251 | 100.0 |
† | Unless otherwise indicated, principal amount is shown in USD. |
# | Securities with purchases pursuant to Rule 144A or section 4(2), under the Securities Act of 1933 and may not be resold subject to that rule except to qualified institutional buyers. |
@ | Non-income producing security |
ADR | American Depository Receipt |
GDR | Global Depository Receipt |
cc | Securities purchased with cash collateral for securities loaned. |
L | Loaned security, a portion or all of the security is on loan at October 31, 2011. |
(1) | Collateral received from brokers for securities lending was invested into these short-term investments. |
Cost for federal income tax purposes is $77,187,111. |
Net unrealized appreciation consists of: | ||||||
Gross Unrealized Appreciation | $ | 18,593,834 | ||||
Gross Unrealized Depreciation | (10,450,629 | ) | ||||
Net Unrealized appreciation | $ | 8,143,205 |
AS OF OCTOBER 31, 2011 (CONTINUED)
Sector Diversification | Percentage of Net Assets | |||||
---|---|---|---|---|---|---|
Consumer Discretionary | 10.4 | % | ||||
Consumer Staples | 5.2 | |||||
Energy | 13.3 | |||||
Financials | 23.0 | |||||
Industrials | 5.7 | |||||
Information Technology | 12.2 | |||||
Materials | 13.8 | |||||
Telecommunications | 8.9 | |||||
Utilities | 0.9 | |||||
Other Long-Term Investments | 3.7 | |||||
Short-Term Investments | 2.5 | |||||
Assets in Excess of Other Liabilities | 0.4 | |||||
Net Assets | 100.0 | % |
Quoted Prices in Active Markets for Identical Investments (Level 1) | Significant Other Observable Inputs# (Level 2) | Significant Unobservable Inputs (Level 3) | Fair Value at 10/31/2011 | |||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Asset Table | ||||||||||||||||||
Investments, at value | ||||||||||||||||||
Common Stock | ||||||||||||||||||
Brazil | $ | 10,509,830 | $ | 653,789 | $ | — | $ | 11,163,619 | ||||||||||
Canada | 622,415 | — | — | 622,415 | ||||||||||||||
China | 210,270 | 14,715,075 | — | 14,925,345 | ||||||||||||||
Hong Kong | — | 767,265 | — | 767,265 | ||||||||||||||
India | — | 6,821,459 | — | 6,821,459 | ||||||||||||||
Indonesia | — | 2,368,524 | — | 2,368,524 | ||||||||||||||
Luxembourg | 424,248 | — | — | 424,248 | ||||||||||||||
Macau | — | 605,846 | — | 605,846 | ||||||||||||||
Malaysia | — | 820,103 | — | 820,103 | ||||||||||||||
Mexico | 2,938,286 | — | — | 2,938,286 | ||||||||||||||
Panama | 330,431 | — | — | 330,431 | ||||||||||||||
Peru | 603,185 | — | — | 603,185 | ||||||||||||||
Philippines | — | 376,210 | — | 376,210 | ||||||||||||||
Russia | 3,889,527 | 2,777,220 | — | 6,666,747 | ||||||||||||||
South Africa | — | 4,633,984 | — | 4,633,984 | ||||||||||||||
South Korea | 766,984 | 11,968,672 | — | 12,735,656 | ||||||||||||||
Taiwan | — | 9,026,580 | — | 9,026,580 | ||||||||||||||
Thailand | — | 1,314,058 | — | 1,314,058 | ||||||||||||||
Turkey | 608,181 | 744,551 | — | 1,352,732 | ||||||||||||||
United Kingdom | — | 470,139 | — | 470,139 | ||||||||||||||
Total Common Stock | 20,903,357 | 58,063,475 | — | 78,966,832 | ||||||||||||||
Exchange-Traded Funds | 3,146,722 | — | — | 3,146,722 | ||||||||||||||
Preferred Stock | 1,033,627 | — | — | 1,033,627 | ||||||||||||||
Short-Term Investments | — | 2,183,135 | — | 2,183,135 | ||||||||||||||
Total Investments, at value | $ | 25,083,706 | $ | 60,246,610 | $ | — | $ | 85,330,316 |
ˆ | See Note 2, “Significant Accounting Policies” in the Notes to Financial Statements for additional information. |
# | The earlier close of the foreign markets gives rise to the possibility that significant events, including broad market moves, may have occurred in the interim and may materially affect the value of those securities. To account for this, the Portfolio may frequently value many of its foreign equity securities using fair value prices based on third party vendor modeling tools to the extent available. Accordingly, a significant portion of the Portfolio’s investments are categorized as Level 2 investments. |
AS OF OCTOBER 31, 2011 (CONTINUED)
Beginning Balance 10/31/2010 | Purchases | Sales | Accrued Discounts/ (Premiums) | Total Realized Gain/(Loss) | Total Unrealized Appreciation/ (Depreciation) | Transfers Into Level 3 | Transfers Out of Level 3 | Ending Balance 10/31/2011 | ||||||||||||||||||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Asset Table | ||||||||||||||||||||||||||||||||||||||
Investments, at value | ||||||||||||||||||||||||||||||||||||||
Preferred Stock | $ | 683,409 | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | (683,409 | ) | $ | — | |||||||||||||||||||
Short-Term Investments | 129,292 | — | (129,292 | ) | — | (32,323 | ) | 32,323 | — | — | — | |||||||||||||||||||||||||||
Total Investments, at value | $ | 812,701 | $ | — | $ | (129,292 | ) | $ | — | $ | (32,323 | ) | $ | 32,323 | $ | — | $ | (683,409 | ) | $ | — |
AS OF OCTOBER 31, 2011
Shares | | | | Value | | Percentage of Net Assets | |||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
COMMON STOCK: 87.1% | |||||||||||||||||||
Argentina: 0.3% | |||||||||||||||||||
13,800 | Other Securities | $ | 277,104 | 0.3 | |||||||||||||||
Brazil: 16.2% | |||||||||||||||||||
53,800 | BRF — Brasil Foods SA ADR | 1,132,490 | 1.3 | ||||||||||||||||
25,900 | Cia de Bebidas das Americas ADR | 873,348 | 1.0 | ||||||||||||||||
70,700 | Gerdau SA ADR | 637,714 | 0.7 | ||||||||||||||||
76,300 | Itau Unibanco Holding SA ADR | 1,458,856 | 1.6 | ||||||||||||||||
110,700 | Petroleo Brasileiro SA ADR | 2,924,647 | 3.2 | ||||||||||||||||
33,600 | Telefonica Brasil SA ADR | 975,072 | 1.1 | ||||||||||||||||
71,000 | Vale SA ADR | 1,675,600 | 1.9 | ||||||||||||||||
43,900 | Vale SA | 1,115,499 | 1.2 | ||||||||||||||||
262,600 | Other Securities | 3,812,303 | 4.2 | ||||||||||||||||
14,605,529 | 16.2 | ||||||||||||||||||
China: 14.9% | |||||||||||||||||||
2,637,000 | Bank of China Ltd. | 938,991 | 1.0 | ||||||||||||||||
424,000 | China Coal Energy Co. — Class H | 528,363 | 0.6 | ||||||||||||||||
1,996,000 | China Construction Bank | 1,467,249 | 1.6 | ||||||||||||||||
29,000 | China Mobile Ltd. | 275,761 | 0.3 | ||||||||||||||||
169,500 | China Shenhua Energy Co., Ltd. | 775,807 | 0.9 | ||||||||||||||||
31,500 | China Unicom Hong Kong Ltd. ADR | 633,465 | 0.7 | ||||||||||||||||
453,000 | CNOOC Ltd. | 856,752 | 1.0 | ||||||||||||||||
70,000 | Hengan International Group Co., Ltd. | 607,081 | 0.7 | ||||||||||||||||
2,236,000 | Industrial and Commercial Bank of China Ltd. | 1,396,983 | 1.5 | ||||||||||||||||
2,600 | PetroChina Co., Ltd. ADR | 336,986 | 0.4 | ||||||||||||||||
764,000 | PetroChina Co., Ltd. | 992,305 | 1.1 | ||||||||||||||||
86,000 | Ping An Insurance Group Co. of China Ltd. | 638,122 | 0.7 | ||||||||||||||||
3,027,000 | Other Securities | 3,977,196 | 4.4 | ||||||||||||||||
13,425,061 | 14.9 | ||||||||||||||||||
Hong Kong: 3.8% | |||||||||||||||||||
15,400 | China Mobile Ltd. ADR | 732,424 | 0.8 | ||||||||||||||||
3,200 | CNOOC Ltd. ADR | 603,552 | 0.7 | ||||||||||||||||
1,735,600 | Other Securities | 2,054,085 | 2.3 | ||||||||||||||||
3,390,061 | 3.8 | ||||||||||||||||||
India: 2.3% | |||||||||||||||||||
13,800 | Infosys Technologies Ltd. ADR | 808,542 | 0.9 | ||||||||||||||||
25,000 | # | Reliance Industries Ltd. GDR | 903,851 | 1.0 | |||||||||||||||
9,200 | Other Securities | 341,872 | 0.4 | ||||||||||||||||
2,054,265 | 2.3 | ||||||||||||||||||
Indonesia: 1.1% | |||||||||||||||||||
261,500 | Tambang Batubara Bukit Asam Tbk PT | 536,253 | 0.6 | ||||||||||||||||
177,500 | Other Securities | 488,223 | 0.5 | ||||||||||||||||
1,024,476 | 1.1 | ||||||||||||||||||
COMMON STOCK: (continued) | |||||||||||||||||||
Israel: 0.5% | |||||||||||||||||||
37,600 | Other Securities | $ | 447,390 | 0.5 | |||||||||||||||
Kazakhstan: 0.3% | |||||||||||||||||||
17,900 | Other Securities | 304,329 | 0.3 | ||||||||||||||||
Malaysia: 0.6% | |||||||||||||||||||
739,900 | Other Securities | 526,025 | 0.6 | ||||||||||||||||
Mexico: 3.5% | |||||||||||||||||||
145,400 | @ | Cemex SAB de CV ADR | 635,398 | 0.7 | |||||||||||||||
42,700 | Grupo Televisa SAB ADR | �� | 910,791 | 1.0 | |||||||||||||||
377,064 | Other Securities | 1,584,875 | 1.8 | ||||||||||||||||
3,131,064 | 3.5 | ||||||||||||||||||
Netherlands: 0.5% | |||||||||||||||||||
43,000 | Other Securities | 472,140 | 0.5 | ||||||||||||||||
Peru: 0.2% | |||||||||||||||||||
5,600 | Other Securities | 229,208 | 0.2 | ||||||||||||||||
Russia: 7.4% | |||||||||||||||||||
88,900 | Gazprom OAO ADR | 1,037,463 | 1.1 | ||||||||||||||||
23,900 | Lukoil-Spon | 1,390,980 | 1.5 | ||||||||||||||||
31,500 | MMC Norilsk Nickel ADR | 614,277 | 0.7 | ||||||||||||||||
50,700 | Mobile Telesystems OJSC ADR | 724,503 | 0.8 | ||||||||||||||||
148,700 | @ | Sberbank of Russia ADR | 1,620,830 | 1.8 | |||||||||||||||
99,600 | Other Securities | 1,328,744 | 1.5 | ||||||||||||||||
6,716,797 | 7.4 | ||||||||||||||||||
South Africa: 6.3% | |||||||||||||||||||
24,300 | Exxaro Resources Ltd. | 547,455 | 0.6 | ||||||||||||||||
9,800 | Sasol Ltd. ADR | 443,352 | 0.5 | ||||||||||||||||
17,300 | Sasol Ltd. | 781,870 | 0.9 | ||||||||||||||||
19,700 | Tiger Brands Ltd. | 568,086 | 0.6 | ||||||||||||||||
84,125 | Vodacom Group Pty Ltd. | 953,710 | 1.1 | ||||||||||||||||
140,780 | Other Securities | 2,375,779 | 2.6 | ||||||||||||||||
5,670,252 | 6.3 | ||||||||||||||||||
South Korea: 15.2% | |||||||||||||||||||
15,100 | Hana Financial Group, Inc. | 539,423 | 0.6 | ||||||||||||||||
4,500 | Hyundai Motor Co. | 906,248 | 1.0 | ||||||||||||||||
20,700 | KB Financial Group, Inc. ADR | 808,335 | 0.9 | ||||||||||||||||
3,145 | KCC Corp. | 762,329 | 0.9 | ||||||||||||||||
33,700 | KT Corp. ADR | 562,116 | 0.6 | ||||||||||||||||
2,233 | Samsung Electronics Co., Ltd. | 1,922,303 | 2.1 | ||||||||||||||||
4,800 | @ | Samsung Electronics Co., Ltd. GDR | 2,057,271 | 2.3 | |||||||||||||||
3,920 | # | Samsung Life Insurance Co. Ltd. | 304,019 | 0.3 | |||||||||||||||
196,640 | Other Securities | 5,899,869 | 6.5 | ||||||||||||||||
13,761,913 | 15.2 | ||||||||||||||||||
AS OF OCTOBER 31, 2011 (CONTINUED)
Shares | | | | Value | | Percentage of Net Assets | |||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
COMMON STOCK: (continued) | |||||||||||||||||||
Taiwan: 5.7% | |||||||||||||||||||
21,800 | Chunghwa Telecom Co. Ltd. ADR | $ | 733,134 | 0.8 | |||||||||||||||
134,400 | Hon Hai Precision Industry Co., Ltd. | 751,698 | 0.8 | ||||||||||||||||
337,000 | Hon Hai Precision Industry Co., Ltd. | 923,844 | 1.0 | ||||||||||||||||
251,000 | Taiwan Semiconductor Manufacturing Co., Ltd. | 611,656 | 0.7 | ||||||||||||||||
109,700 | Taiwan Semiconductor Manufacturing Co., Ltd. ADR | 1,384,414 | 1.6 | ||||||||||||||||
976,000 | Other Securities | 714,983 | 0.8 | ||||||||||||||||
5,119,729 | 5.7 | ||||||||||||||||||
Thailand: 2.8% | |||||||||||||||||||
558,200 | Charoen Pokphand Foods PCL | 544,892 | 0.6 | ||||||||||||||||
115,800 | PTT PCL | 1,141,686 | 1.3 | ||||||||||||||||
123,600 | Other Securities | 809,442 | 0.9 | ||||||||||||||||
2,496,020 | 2.8 | ||||||||||||||||||
Turkey: 0.4% | |||||||||||||||||||
27,700 | Other Securities | 341,264 | 0.4 | ||||||||||||||||
United Kingdom: 1.0% | |||||||||||||||||||
340,500 | Other Securities | 949,790 | 1.0 | ||||||||||||||||
United States: 4.1% | |||||||||||||||||||
32,200 | Archer-Daniels-Midland Co. | 931,868 | 1.0 | ||||||||||||||||
82,700 | Avon Products, Inc. | 1,511,756 | 1.7 | ||||||||||||||||
53,000 | @ | Yahoo!, Inc. | 828,920 | 0.9 | |||||||||||||||
7,300 | Other Securities | 450,921 | 0.5 | ||||||||||||||||
3,723,465 | 4.1 | ||||||||||||||||||
Total Common Stock | |||||||||||||||||||
(Cost $73,055,010) | 78,665,882 | 87.1 | |||||||||||||||||
EXCHANGE-TRADED FUNDS: 3.7% | |||||||||||||||||||
20,600 | iShares MSCI Brazil Index Fund | 1,284,822 | 1.4 | ||||||||||||||||
50,100 | iShares MSCI Emerging Markets Index Fund | 2,044,080 | 2.3 | ||||||||||||||||
EXCHANGE-TRADED FUNDS: (continued) | |||||||||||||||||||
Total Exchange-Traded Funds | |||||||||||||||||||
(Cost $3,085,223) | $ | 3,328,902 | 3.7 | ||||||||||||||||
Total Investments in Securities | |||||||||||||||||||
(Cost $76,140,233) | $ | 81,994,784 | 90.8 | ||||||||||||||||
Assets in Excess of Other Liabilities | 8,259,677 | 9.2 | |||||||||||||||||
Net Assets | $ | 90,254,461 | 100.0 |
# | Securities with purchases pursuant to Rule 144A or section 4(2), under the Securities Act of 1933 and may not be resold subject to that rule except to qualified institutional buyers. |
@ | Non-income producing security |
ADR | American Depository Receipt |
GDR | Global Depository Receipt |
Net unrealized appreciation consists of: | ||||||
Gross Unrealized Appreciation | $ | 6,252,437 | ||||
Gross Unrealized Depreciation | (397,886 | ) | ||||
Net Unrealized appreciation | $ | 5,854,551 |
Sector Diversification | Percentage of Net Assets | |||||
---|---|---|---|---|---|---|
Consumer Discretionary | 4.8 | % | ||||
Consumer Staples | 11.5 | |||||
Energy | 16.3 | |||||
Financials | 14.7 | |||||
Industrials | 5.0 | |||||
Information Technology | 13.1 | |||||
Materials | 10.9 | |||||
Telecommunications | 10.0 | |||||
Utilities | 0.8 | |||||
Other Long-Term Investments | 3.7 | |||||
Assets in Excess of Other Liabilities | 9.2 | |||||
Net Assets | 100.0 | % |
AS OF OCTOBER 31, 2011 (CONTINUED)
Quoted Prices in Active Markets for Identical Investments (Level 1) | Significant Other Observable Inputs# (Level 2) | Significant Unobservable Inputs (Level 3) | Fair Value at 10/31/2011 | |||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Asset Table | ||||||||||||||||||
Investments, at value | ||||||||||||||||||
Common Stock | ||||||||||||||||||
Argentina | $ | 277,104 | $ | — | $ | — | $ | 277,104 | ||||||||||
Brazil | 13,146,673 | 1,458,856 | — | 14,605,529 | ||||||||||||||
China | 1,902,287 | 11,522,774 | — | 13,425,061 | ||||||||||||||
Hong Kong | 1,823,464 | 1,566,597 | — | 3,390,061 | ||||||||||||||
India | 1,150,414 | 903,851 | — | 2,054,265 | ||||||||||||||
Indonesia | — | 1,024,476 | — | 1,024,476 | ||||||||||||||
Israel | — | 447,390 | — | 447,390 | ||||||||||||||
Kazakhstan | — | 304,329 | — | 304,329 | ||||||||||||||
Malaysia | — | 526,025 | — | 526,025 | ||||||||||||||
Mexico | 3,131,064 | — | — | 3,131,064 | ||||||||||||||
Netherlands | 472,140 | — | — | 472,140 | ||||||||||||||
Peru | 229,208 | — | — | 229,208 | ||||||||||||||
Russia | 4,773,776 | 1,943,021 | — | 6,716,797 | ||||||||||||||
South Africa | 443,352 | 5,226,900 | — | 5,670,252 | ||||||||||||||
South Korea | 2,375,666 | 11,386,247 | — | 13,761,913 | ||||||||||||||
Taiwan | 2,117,548 | 3,002,181 | — | 5,119,729 | ||||||||||||||
Thailand | — | 2,496,020 | — | 2,496,020 | ||||||||||||||
Turkey | 341,264 | — | — | 341,264 | ||||||||||||||
United Kingdom | — | 949,790 | — | 949,790 | ||||||||||||||
United States | 3,723,465 | — | — | 3,723,465 | ||||||||||||||
Total Common Stock | 35,907,425 | 42,758,457 | — | 78,665,882 | ||||||||||||||
Exchange-Traded Funds | 3,328,902 | — | — | 3,328,902 | ||||||||||||||
Total Investments, at value | $ | 39,236,327 | $ | 42,758,457 | $ | — | $ | 81,994,784 | ||||||||||
Other Financial Instruments+ | ||||||||||||||||||
Futures | 419,911 | — | — | 419,911 | ||||||||||||||
Total Assets | $ | 39,656,238 | $ | 42,758,457 | $ | — | $ | 82,414,695 |
ˆ | See Note 2, “Significant Accounting Policies” in the Notes to Financial Statements for additional information. |
+ | Other Financial Instruments are derivatives not reflected in the Portfolio of Investments and may include open forward foreign currency contracts, equity forwards, futures, swaps, and written options. Forward foreign currency contracts, equity forwards and futures are valued at the unrealized gain (loss) on the instrument. Swaps and written options are valued at the fair value of the instrument. |
# | The earlier close of the foreign markets gives rise to the possibility that significant events, including broad market moves, may have occurred in the interim and may materially affect the value of those securities. To account for this, the Portfolio may frequently value many of its foreign equity securities using fair value prices based on third party vendor modeling tools to the extent available. Accordingly, a significant portion of the Portfolio’s investments are categorized as Level 2 investments. |
Derivatives not accounted for as hedging instruments | Location on Statement of Assets and Liabilities | Fair Value | ||||||||
---|---|---|---|---|---|---|---|---|---|---|
Asset Derivatives | ||||||||||
Equity contracts | Net Assets — Unrealized appreciation* | $419,911 | ||||||||
Total Asset Derivatives | $419,911 |
* | Includes cumulative appreciation/depreciation of futures contracts as reported in the table following the Summary Portfolio of Investments. |
AS OF OCTOBER 31, 2011 (CONTINUED)
Amount of Realized Gain or (Loss) on Derivatives Recognized in Income | ||||||
---|---|---|---|---|---|---|
Derivatives not accounted for as hedging instruments | Futures | |||||
Credit contracts | $49,413 | |||||
Total | $49,413 |
Change in Unrealized Appreciation or (Depreciation) on Derivatives Recognized in Income | ||||||
---|---|---|---|---|---|---|
Derivatives not accounted for as hedging instruments | Futures | |||||
Credit contracts | $419,911 | |||||
Total | $419,911 |
Contract Description | Number of Contracts | Expiration Date | Notional Value | Unrealized Appreciation/ (Depreciation) | ||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Long Contracts | ||||||||||||||||||
Mini MSCI Emerging Markets Index | 104 | 12/16/11 | $ | 5,078,320 | $ | 368,533 | ||||||||||||
SGX S&P CNX Nifty Index | 117 | 11/24/11 | 1,251,198 | 51,378 | ||||||||||||||
$ | 6,329,518 | $ | 419,911 |
AS OF OCTOBER 31, 2011
Principal Amount† | | | | Value | | Percentage of Net Assets | |||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
CORPORATE BONDS/NOTES: 24.8% | |||||||||||||||||||
Argentina: 0.0% | |||||||||||||||||||
302,000 | Other Securities | $ | 329,180 | 0.0 | |||||||||||||||
Australia: 0.2% | |||||||||||||||||||
680,000 | # | FMG Resources August 2006 Pty Ltd, 6.375%, 02/01/16 | 663,000 | 0.1 | |||||||||||||||
350,000 | # | FMG Resources August 2006 Pty Ltd., 7.000%, 11/01/15 | 351,750 | 0.1 | |||||||||||||||
1,014,750 | 0.2 | ||||||||||||||||||
Bermuda: 0.1% | |||||||||||||||||||
875,000 | Other Securities | 870,625 | 0.1 | ||||||||||||||||
Brazil: 1.8% | |||||||||||||||||||
1,945,000 | # | Banco do Brasil SA, 5.875%, 01/26/22 | 1,974,175 | 0.3 | |||||||||||||||
BRL 3,899,000 | # | Banco Votorantim SA, 6.250%, 05/16/16 | 2,390,248 | 0.4 | |||||||||||||||
1,000,000 | # | JBS Finance II Ltd., 8.250%, 01/29/18 | 935,000 | 0.1 | |||||||||||||||
1,250,000 | # | QGOG Atlantic/ Alaskan Rigs Ltd., 5.250%, 07/30/18 | 1,271,875 | 0.2 | |||||||||||||||
400,000 | # | Rearden G Holdings EINS GmbH, 7.875%, 03/30/20 | 397,000 | 0.1 | |||||||||||||||
588,000 | # | Voto-Votorantim Ltd., 6.750%, 04/05/21 | 621,810 | 0.1 | |||||||||||||||
3,829,000 | Other Securities | 3,968,024 | 0.6 | ||||||||||||||||
11,558,132 | 1.8 | ||||||||||||||||||
Canada: 0.3% | |||||||||||||||||||
445,000 | # | Bombardier, Inc., 7.500%, 03/15/18 | 487,275 | 0.1 | |||||||||||||||
900,000 | # | Bombardier, Inc., 7.750%, 03/15/20 | 994,500 | 0.1 | |||||||||||||||
575,000 | Other Securities | 649,750 | 0.1 | ||||||||||||||||
2,131,525 | 0.3 | ||||||||||||||||||
Cayman Islands: 0.3% | |||||||||||||||||||
650,000 | # | IPIC GMTN Ltd., 5.500%, 03/01/22 | 647,400 | 0.1 | |||||||||||||||
1,185,000 | Other Securities | 1,279,800 | 0.2 | ||||||||||||||||
1,927,200 | 0.3 | ||||||||||||||||||
Chile: 0.6% | |||||||||||||||||||
1,560,000 | Inversiones CMPC SA, 4.750%, 01/19/18 | 1,637,520 | 0.3 | ||||||||||||||||
672,000 | # | Inversiones CMPC SA, 4.750%, 01/19/18 | 705,393 | 0.1 | |||||||||||||||
645,000 | # | Inversiones CMPC SA, 6.125%, 11/05/19 | 725,664 | 0.1 | |||||||||||||||
470,000 | Other Securities | 563,307 | 0.1 | ||||||||||||||||
3,631,884 | 0.6 | ||||||||||||||||||
China: 0.1% | |||||||||||||||||||
200,000 | # | ENN Energy Holdings Ltd., 6.000%, 05/13/21 | 213,217 | 0.0 | |||||||||||||||
CORPORATE BONDS/NOTES: (continued) | |||||||||||||||||||
China: (continued) | |||||||||||||||||||
250,000 | # | Mega Advance Investments Ltd., 6.375%, 05/12/41 | $ | 254,089 | 0.1 | ||||||||||||||
467,306 | 0.1 | ||||||||||||||||||
Colombia: 1.4% | |||||||||||||||||||
9,330,000 | # | Citigroup Funding, Inc., 11.000%, 07/27/20 | 8,677,273 | 1.4 | |||||||||||||||
France: 0.2% | |||||||||||||||||||
904,000 | Other Securities | 975,093 | 0.2 | ||||||||||||||||
India: 0.0% | |||||||||||||||||||
300,000 | # | Reliance Holdings USA, Inc., 6.250%, 10/19/40 | 301,111 | 0.0 | |||||||||||||||
Italy: 0.2% | |||||||||||||||||||
1,358,000 | Other Securities | 1,370,678 | 0.2 | ||||||||||||||||
Kazakhstan: 0.3% | |||||||||||||||||||
1,000,000 | # | KazMunayGas National Co., 11.750%, 01/23/15 | 1,217,500 | 0.2 | |||||||||||||||
765,000 | Other Securities | 797,512 | 0.1 | ||||||||||||||||
2,015,012 | 0.3 | ||||||||||||||||||
Luxembourg: 0.1% | |||||||||||||||||||
575,000 | Other Securities | 605,187 | 0.1 | ||||||||||||||||
Mexico: 1.0% | |||||||||||||||||||
1,970,000 | America Movil SAB de CV, 6.125%, 03/30/40 | 2,343,676 | 0.4 | ||||||||||||||||
2,190,000 | Southern Copper Corp., 6.750%, 04/16/40 | 2,333,335 | 0.4 | ||||||||||||||||
1,336,000 | Other Securities | 1,499,660 | 0.2 | ||||||||||||||||
�� | 6,176,671 | 1.0 | |||||||||||||||||
Netherlands: 0.2% | |||||||||||||||||||
1,133,000 | Other Securities | 1,244,679 | 0.2 | ||||||||||||||||
Qatar: 0.1% | |||||||||||||||||||
440,000 | # | Nakilat, Inc., 6.067%, 12/31/33 | 480,700 | 0.1 | |||||||||||||||
Russia: 0.1% | |||||||||||||||||||
400,000 | # | Vnesheconombank Via VEB Finance Ltd., 6.902%, 07/09/20 | 434,000 | 0.1 | |||||||||||||||
South Africa: 0.3% | |||||||||||||||||||
2,232,000 | # | Gold Fields Orogen Holding BVI Ltd., 4.875%, 10/07/20 | 2,088,268 | 0.3 | |||||||||||||||
United Kingdom: 0.6% | |||||||||||||||||||
627,000 | # | Barclays Bank PLC, 6.050%, 12/04/17 | 605,616 | 0.1 | |||||||||||||||
300,000 | # | Intelsat Jackson Holdings Ltd., 7.250%, 10/15/20 | 301,500 | 0.0 |
AS OF OCTOBER 31, 2011 (CONTINUED)
Principal Amount† | | | | Value | | Percentage of Net Assets | |||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
CORPORATE BONDS/NOTES: (continued) | |||||||||||||||||||
United Kingdom: (continued) | |||||||||||||||||||
325,000 | # | Intelsat Jackson Holdings SA, 7.500%, 04/01/21 | $ | 327,438 | 0.1 | ||||||||||||||
665,000 | # | Lloyds TSB Bank PLC, 6.500%, 09/14/20 | 622,054 | 0.1 | |||||||||||||||
1,661,000 | Other Securities | 1,767,638 | 0.3 | ||||||||||||||||
3,624,246 | 0.6 | ||||||||||||||||||
United States: 16.6% | |||||||||||||||||||
426,000 | # | Allegheny Energy Supply Co. LLC, 5.750%, 10/15/19 | 465,831 | 0.1 | |||||||||||||||
735,000 | # | AMC Networks, Inc., 7.750%, 07/15/21 | 801,150 | 0.1 | |||||||||||||||
847,000 | American Express Credit Corp., 2.750%, 09/15/15 | 859,251 | 0.2 | ||||||||||||||||
1,871,000 | American Express Credit Corp., 5.125%, 08/25/14 | 2,035,573 | 0.3 | ||||||||||||||||
785,000 | # | Arch Coal, Inc., 7.250%, 06/15/21 | 812,475 | 0.1 | |||||||||||||||
2,040,000 | AT&T, Inc., 2.500%, 08/15/15 | 2,102,863 | 0.3 | ||||||||||||||||
590,000 | # | Calpine Corp., 7.875%, 07/31/20 | 635,725 | 0.1 | |||||||||||||||
250,000 | # | Chesapeake Oilfield Operating LLC/Chesapeake Oilfield Finance, Inc., 6.625%, 11/15/19 | 257,500 | 0.0 | |||||||||||||||
473,000 | # | Chevron Phillips Chemical Co. LLC, 8.250%, 06/15/19 | 592,910 | 0.1 | |||||||||||||||
10,746,000 | # | Citigroup Funding, Inc., 11.000%, 07/27/20 | 10,471,870 | 1.6 | |||||||||||||||
1,208,000 | Citigroup, Inc., 5.000%–8.500%, 09/15/14–05/22/19 | 1,312,223 | 0.2 | ||||||||||||||||
720,000 | # | Delphi Corp., 5.875%, 05/15/19 | 734,400 | 0.1 | |||||||||||||||
785,000 | # | Endo Pharmaceuticals Holdings, Inc., 7.250%, 01/15/22 | 849,762 | 0.1 | |||||||||||||||
1,982,000 | Goldman Sachs Group, Inc., 5.375%, 03/15/20 | 2,018,752 | 0.3 | ||||||||||||||||
991,000 | # | Hyatt Hotels Corp., 6.875%, 08/15/19 | 1,095,438 | 0.2 | |||||||||||||||
2,632,000 | Kellogg Co., 4.000%, 12/15/20 | 2,873,660 | 0.5 | ||||||||||||||||
500,000 | # | Kinder Morgan Finance Co. LLC, 6.000%, 01/15/18 | 515,000 | 0.1 | |||||||||||||||
525,000 | # | Mylan, Inc./PA, 7.875%, 07/15/20 | 590,625 | 0.1 | |||||||||||||||
1,055,000 | # | Oracle Corp., 5.375%, 07/15/40 | 1,280,248 | 0.2 | |||||||||||||||
857,000 | # | Pacific Life Insurance Co., 9.250%, 06/15/39 | 1,157,211 | 0.2 | |||||||||||||||
CORPORATE BONDS/NOTES: (continued) | |||||||||||||||||||
United States: (continued) | |||||||||||||||||||
350,000 | # | Sealed Air Corp., 8.375%, 09/15/21 | $ | 379,750 | 0.1 | ||||||||||||||
2,078,000 | St. Jude Medical, Inc., 2.500%, 01/15/16 | 2,136,049 | 0.3 | ||||||||||||||||
1,702,000 | Time Warner Cable, Inc., 5.875%–6.750%, 06/15/39–11/15/40 | 2,014,293 | 0.3 | ||||||||||||||||
1,481,000 | Time Warner, Inc., 7.700%, 05/01/32 | 1,946,169 | 0.3 | ||||||||||||||||
400,000 | # | Valeant Pharmaceuticals International, 7.000%, 10/01/20 | 398,000 | 0.1 | |||||||||||||||
720,000 | # | Valeant Pharmaceuticals International, 7.250%, 07/15/22 | 712,800 | 0.1 | |||||||||||||||
735,000 | # | XM Satellite Radio, Inc., 7.625%, 11/01/18 | 795,637 | 0.1 | |||||||||||||||
59,879,000 | Other Securities | 65,712,929 | 10.4 | ||||||||||||||||
105,558,094 | 16.6 | ||||||||||||||||||
Venezuela: 0.3% | |||||||||||||||||||
2,212,000 | # | Petroleos de Venezuela SA, 12.750%, 02/17/22 | 1,791,720 | 0.3 | |||||||||||||||
Total Corporate Bonds/Notes | |||||||||||||||||||
(Cost $150,267,928) | 157,273,334 | 24.8 | |||||||||||||||||
COLLATERALIZED MORTGAGE OBLIGATIONS: 8.2% | |||||||||||||||||||
United States: 8.2% | |||||||||||||||||||
1,685,000 | # | American General Mortgage Loan Trust, 5.750%, 09/25/48 | 1,713,902 | 0.3 | |||||||||||||||
2,467,605 | Banc of America Alternative Loan Trust, 4.750%, 02/25/19 | 2,519,215 | 0.4 | ||||||||||||||||
630,000 | # | Banc of America Large Loan, Inc., 6.010%, 10/10/45 | 570,583 | 0.1 | |||||||||||||||
2,048,969 | Chase Mortgage Finance Corp., 5.480%, 12/25/35 | 1,865,258 | 0.3 | ||||||||||||||||
2,746,500 | Credit Suisse Mortgage Capital Certificates, 5.589%, 09/15/40 | 2,792,997 | 0.4 | ||||||||||||||||
356,350 | CW Capital Cobalt Ltd., 5.174%, 08/15/48 | 359,120 | 0.0 | ||||||||||||||||
2,389,521 | CW Capital Cobalt Ltd., 5.736%, 05/15/46 | 2,429,710 | 0.4 | ||||||||||||||||
1,000,000 | # | DBUBS Mortgage Trust, 5.557%, 11/10/46 | 795,456 | 0.1 | |||||||||||||||
2,338,809 | JP Morgan Chase Commercial Mortgage Securities Corp., 5.247%, 01/12/43 | 2,365,936 | 0.4 | ||||||||||||||||
440,000 | # | JP Morgan Chase Commercial Mortgage Securities Corp., 5.389%, 07/15/46 | 320,645 | 0.1 |
AS OF OCTOBER 31, 2011 (CONTINUED)
Principal Amount† | | | | Value | | Percentage of Net Assets | |||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
COLLATERALIZED MORTGAGE OBLIGATIONS: (continued) | |||||||||||||||||||
United States: (continued) | |||||||||||||||||||
1,510,000 | JP Morgan Chase Commercial Mortgage Securities Corp., 4.981%–6.288%, 01/15/42–02/12/51 | $ | 1,392,143 | 0.2 | |||||||||||||||
260,000 | # | LB-UBS Commercial Mortgage Trust, 5.750%, 01/15/36 | 266,030 | 0.1 | |||||||||||||||
4,530,000 | LB-UBS Commercial Mortgage Trust, 4.986%–5.890%, 06/15/38–09/15/45 | 4,042,438 | 0.6 | ||||||||||||||||
2,300,000 | Merrill Lynch/Countrywide Commercial Mortgage Trust, 5.331%, 03/12/51 | 2,319,182 | 0.4 | ||||||||||||||||
2,619,065 | Morgan Stanley Capital I, 5.591%, 04/12/49 | 2,695,771 | 0.4 | ||||||||||||||||
980,000 | # | Morgan Stanley Capital I, 5.256%, 09/15/47 | 793,507 | 0.1 | |||||||||||||||
1,330,000 | # | Morgan Stanley Capital I, 5.397%, 01/13/41 | 1,302,402 | 0.2 | |||||||||||||||
1,200,313 | Morgan Stanley Capital I, 0.493%–5.242%, 01/14/42–04/12/49 | 1,151,299 | 0.2 | ||||||||||||||||
190,000 | # | Morgan Stanley Dean Witter Capital I, 6.500%, 11/15/36 | 96,719 | 0.0 | |||||||||||||||
3,056,328 | + | Structured Asset Securities Corp., 2.434%–5.000%, 09/25/33–05/25/35 | 3,007,215 | 0.5 | |||||||||||||||
630,000 | Wachovia Bank Commercial Mortgage Trust, 5.383%, 12/15/43 | 491,747 | 0.1 | ||||||||||||||||
2,601,167 | Wachovia Bank Commercial Mortgage Trust, 5.737%, 06/15/49 | 2,660,384 | 0.4 | ||||||||||||||||
627,000 | # | Wachovia Bank Commercial Mortgage Trust, 5.704%, 02/15/35 | 614,515 | 0.1 | |||||||||||||||
3,376,844 | Wells Fargo Mortgage Backed Securities Trust, 2.710%–5.245%, 05/25/35–11/25/36 | 3,216,074 | 0.5 | ||||||||||||||||
2,080,400 | Wells Fargo Mortgage-Backed Securities Trust, 5.353%, 08/25/35 | 2,003,491 | 0.3 | ||||||||||||||||
11,145,521 | Other Securities | 10,348,801 | 1.6 | ||||||||||||||||
Total Collateralized Mortgage Obligations | |||||||||||||||||||
(Cost $53,624,759) | 52,134,540 | 8.2 | |||||||||||||||||
U.S. TREASURY OBLIGATIONS: 11.1% | |||||||||||||||||||
U.S. Treasury Bonds: 2.2% | |||||||||||||||||||
6,502,000 | 2.125%, due 08/15/21 | 6,497,943 | 1.0 | ||||||||||||||||
6,127,000 | 4.375%, due 05/15/41 | 7,594,643 | 1.2 | ||||||||||||||||
14,092,586 | 2.2 | ||||||||||||||||||
U.S. Treasury Notes: 8.9% | |||||||||||||||||||
8,162,000 | 0.125%, due 09/30/13 | 8,143,848 | 1.3 | ||||||||||||||||
U.S. TREASURY OBLIGATIONS: (continued) | |||||||||||||||||||
U.S. Treasury Notes: (continued) | |||||||||||||||||||
16,855,000 | 1.000%, due 09/30/16 | $ | 16,893,193 | 2.7 | |||||||||||||||
31,491,000 | 1.375%, due 09/30/18 | 31,126,901 | 4.9 | ||||||||||||||||
56,163,942 | 8.9 | ||||||||||||||||||
Total U.S. Treasury Obligations | |||||||||||||||||||
(Cost $69,753,986) | 70,256,528 | 11.1 | |||||||||||||||||
ASSET-BACKED SECURITIES: 1.7% | |||||||||||||||||||
United States: 1.7% | |||||||||||||||||||
EUR 7,553,000 | MBNA Credit Card Master Note Trust, 5.600%, 07/17/14 | 10,536,137 | 1.7 | ||||||||||||||||
Total Asset-Backed Securities | |||||||||||||||||||
(Cost $10,583,385) | 10,536,137 | 1.7 | |||||||||||||||||
FOREIGN GOVERNMENT BONDS: 34.8% | |||||||||||||||||||
Argentina: 0.3% | |||||||||||||||||||
4,258,635 | Other Securities | 1,619,956 | 0.3 | ||||||||||||||||
Brazil: 8.2% | |||||||||||||||||||
BRL 36,028,000 | Brazil Notas do Tesouro Nacional Serie F, 10.000%, 01/01/15 | 20,407,494 | 3.2 | ||||||||||||||||
BRL 53,176,000 | Brazil Notas do Tesouro Nacional Series F, 10.000%, 01/01/21 | 28,480,626 | 4.5 | ||||||||||||||||
BRL 2,474,000 | Other Securities | 3,261,018 | 0.5 | ||||||||||||||||
52,149,138 | 8.2 | ||||||||||||||||||
Canada: 1.3% | |||||||||||||||||||
CAD 3,000,000 | Canadian Government Bond, 1.750%, 03/01/13 | 3,041,114 | 0.5 | ||||||||||||||||
CAD 1,000,000 | Canadian Government Bond, 3.000%, 12/01/15 | 1,065,563 | 0.2 | ||||||||||||||||
CAD 2,000,000 | Canadian Government Bond, 3.500%, 06/01/20 | 2,205,247 | 0.3 | ||||||||||||||||
CAD 1,800,000 | Canadian Government Bond, 4.000%, 06/01/41 | 2,167,946 | 0.3 | ||||||||||||||||
8,479,870 | 1.3 | ||||||||||||||||||
Colombia: 0.3% | |||||||||||||||||||
1,964,000 | Colombia Government International Bond, 4.375%, 07/12/21 | 2,057,290 | 0.3 | ||||||||||||||||
France: 2.9% | |||||||||||||||||||
EUR 13,110,000 | France Government Bond OAT, 3.250%, 10/25/21 | 18,329,420 | 2.9 | ||||||||||||||||
Germany: 7.5% | |||||||||||||||||||
EUR 13,015,000 | Bundesrepublik Deutschland, 2.250%, 09/04/21 | 18,349,890 | 2.9 | ||||||||||||||||
EUR 20,500,000 | Bundesschatzanweisungen, 1.750%, 06/14/13 | 28,915,325 | 4.6 | ||||||||||||||||
EUR 11,000 | Other Securities | 16,334 | 0.0 | ||||||||||||||||
47,281,549 | 7.5 | ||||||||||||||||||
AS OF OCTOBER 31, 2011 (CONTINUED)
Principal Amount† | | | | Value | | Percentage of Net Assets | |||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
FOREIGN GOVERNMENT BONDS: (continued) | |||||||||||||||||||
Indonesia: 0.4% | |||||||||||||||||||
2,590,000 | # | Indonesia Government International Bond, 4.875%, 05/05/21 | $ | 2,790,725 | 0.4 | ||||||||||||||
Lithuania: 0.2% | |||||||||||||||||||
939,000 | # | Lithuania Government International Bond, 5.125%, 09/14/17 | 946,043 | 0.2 | |||||||||||||||
Mexico: 1.2% | |||||||||||||||||||
MXN 80,600,000 | Mexican Bonos, 7.750%, 05/29/31 | 6,371,706 | 1.0 | ||||||||||||||||
771,000 | Other Securities | 1,121,805 | 0.2 | ||||||||||||||||
7,493,511 | 1.2 | ||||||||||||||||||
Panama: 0.2% | |||||||||||||||||||
1,265,000 | Other Securities | 1,509,905 | 0.2 | ||||||||||||||||
Peru: 1.4% | |||||||||||||||||||
PEN 16,852,000 | # | Peruvian Government International Bond, 8.200%, 08/12/26 | 7,502,091 | 1.2 | |||||||||||||||
1,267,000 | Peruvian Government International Bond, 7.350%, 07/21/25 | 1,659,770 | 0.2 | ||||||||||||||||
9,161,861 | 1.4 | ||||||||||||||||||
Philippines: 0.4% | |||||||||||||||||||
2,187,000 | Philippine Government International Bond, 4.000%, 01/15/21 | 2,236,208 | 0.3 | ||||||||||||||||
399,000 | Other Securities | 474,810 | 0.1 | ||||||||||||||||
2,711,018 | 0.4 | ||||||||||||||||||
Poland: 0.3% | |||||||||||||||||||
1,652,000 | Poland Government International Bond, 5.000%–6.375%, 07/15/19–03/23/22 | 1,810,840 | 0.3 | ||||||||||||||||
Russia: 0.5% | |||||||||||||||||||
2,478,280 | # | Russia Government Bond, 7.500%, 03/31/30 | 2,942,957 | 0.5 | |||||||||||||||
South Africa: 4.3% | |||||||||||||||||||
ZAR 213,638,128 | South Africa Government Bond, 7.250%, 01/15/20 | 25,804,621 | 4.1 | ||||||||||||||||
1,231,000 | Other Securities | 1,375,643 | 0.2 | ||||||||||||||||
27,180,264 | 4.3 | ||||||||||||||||||
South Korea: 3.5% | |||||||||||||||||||
1,900,000 | # | Korea Housing Finance Corp., 3.500%, 12/15/16 | 1,937,892 | 0.3 | |||||||||||||||
500,000 | # | Korea Housing Finance Corp., 4.125%, 12/15/15 | 519,021 | 0.1 | |||||||||||||||
KRW21,931,000,000 | Korea Treasury Bond, 4.750%, 12/10/11 | 19,818,103 | 3.1 | ||||||||||||||||
22,275,016 | 3.5 | ||||||||||||||||||
FOREIGN GOVERNMENT BONDS: (continued) | |||||||||||||||||||
Turkey: 0.4% | |||||||||||||||||||
2,400,000 | Turkey Government International Bond, 5.125%–7.500%, 11/07/19–03/25/22 | $ | 2,595,660 | 0.4 | |||||||||||||||
Ukraine: 0.2% | |||||||||||||||||||
1,599,000 | # | Ukraine Government International Bond, 6.250%, 06/17/16 | 1,519,050 | 0.2 | |||||||||||||||
United Kingdom: 1.0% | |||||||||||||||||||
GBP 3,600,000 | United Kingdom Gilt, 4.250%–4.750%, 03/07/13–12/07/40 | 6,557,698 | 1.0 | ||||||||||||||||
Uruguay: 0.3% | |||||||||||||||||||
6,971,000 | Other Securities | 1,624,801 | 0.3 | ||||||||||||||||
Total Foreign Government Bonds | |||||||||||||||||||
(Cost $221,681,374) | 221,036,572 | 34.8 | |||||||||||||||||
U.S. GOVERNMENT AGENCY OBLIGATIONS: 9.6% | |||||||||||||||||||
Federal Home Loan Mortgage Corporation: 5.7%## | |||||||||||||||||||
24,103,000 | W | 4.000%, due 06/15/40 | 25,006,862 | 3.9 | |||||||||||||||
5,735,000 | W | 4.500%, due 11/01/39 | 6,048,633 | 1.0 | |||||||||||||||
6,130,793 | ˆ | 5.000%, due 02/15/40 | 1,127,388 | 0.2 | |||||||||||||||
1,811,178 | 5.000%, due 01/01/41 | 1,944,858 | 0.3 | ||||||||||||||||
1,755,061 | 5.500%, due 11/15/32 | 1,915,289 | 0.3 | ||||||||||||||||
36,043,030 | 5.7 | ||||||||||||||||||
Federal National Mortgage Association: 3.3%## | |||||||||||||||||||
1,758,589 | 5.000%, due 01/01/41 | 1,894,880 | 0.3 | ||||||||||||||||
1,824,885 | 5.000%, due 02/01/41 | 1,969,735 | 0.3 | ||||||||||||||||
30,339,482 | ˆ | 4.500%–7.434%, due 05/25/18–09/01/41 | 17,117,267 | 2.7 | |||||||||||||||
20,981,882 | 3.3 | ||||||||||||||||||
Government National Mortgage Association: 0.6% | |||||||||||||||||||
3,829,042 | 4.500%–5.500%, due 03/20/39–10/20/60 | 4,234,112 | 0.6 | ||||||||||||||||
Total U.S. Government Agency Obligations | |||||||||||||||||||
(Cost $60,500,114) | 61,259,024 | 9.6 |
# of Contracts | | | | Value | | Percentage of Net Assets | |||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
PURCHASED OPTIONS: 0.3% | |||||||||||||||||||
Options on Currencies: 0.3% | |||||||||||||||||||
11,600,000 | @ | EUR vs JPY Currency Put Option, Strike @ 102.250, Exp. 11/17/11 Counterparty: Deutsche Bank AG | 26,757 | 0.0 | |||||||||||||||
31,200,000 | @ | USD vs EUR Currency Call Option, Strike @ 1.355, Exp. 11/17/11 Counterparty: Deutsche Bank AG | 122,830 | 0.0 |
AS OF OCTOBER 31, 2011 (CONTINUED)
# of Contracts | | | | Value | | Percentage of Net Assets | |||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
PURCHASED OPTIONS: (continued) | |||||||||||||||||||
Options on Currencies: (continued) | |||||||||||||||||||
61,600,000 | @ | USD vs EUR Currency Call Option, Strike @ 1.380, Exp. 01/16/12 Counterparty: Deutsche Bank AG | $ | 1,340,049 | 0.2 | ||||||||||||||
18,200,000 | @ | USD vs EUR Currency Call Option, Strike @ 1.345, Exp. 12/15/11 Counterparty: Deutsche Bank AG | 163,878 | 0.1 | |||||||||||||||
30,800,000 | @ | USD vs EUR Currency Put Option, Strike @ 1.450, Exp. 12/15/11 Counterparty: Deutsche Bank AG | 128,916 | 0.0 | |||||||||||||||
1,782,430 | 0.3 | ||||||||||||||||||
Total Purchased Options | |||||||||||||||||||
(Cost $2,516,692) | 1,782,430 | 0.3 | |||||||||||||||||
Total Long-Term Investments | |||||||||||||||||||
(Cost $568,928,238) | 574,278,565 | 90.5 |
Principal Amount† | | | | Value | | Percentage of Net Assets | |||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
SHORT-TERM INVESTMENTS: 5.1% | |||||||||||||||||||
Commercial Paper: 2.7% | |||||||||||||||||||
5,000,000 | CVS Caremark, 0.230%, 11/01/11 | 4,999,968 | 0.8 | ||||||||||||||||
4,250,000 | Kellogg Company, 0.220%, 11/17/11 | 4,249,559 | 0.7 | ||||||||||||||||
6,000,000 | UnitedHealthCare, 0.320%, 11/01/11 | 5,999,947 | 0.9 | ||||||||||||||||
2,000,000 | Volkswagen Group, 0.320%, 11/02/11 | 1,999,964 | 0.3 | ||||||||||||||||
17,249,438 | 2.7 |
Shares | | | | Value | | Percentage of Net Assets | ||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Mutual Funds: 2.4% | ||||||||||||||||||
15,069,000 | BlackRock Liquidity Funds, TempFund, Institutional Class (Cost $15,069,000) | 15,069,000 | 2.4 | |||||||||||||||
Total Short-Term Investments | ||||||||||||||||||
(Cost $32,318,438) | 32,318,438 | 5.1 | ||||||||||||||||
Total Investments in Securities (Cost $601,246,676) | $ | 606,597,003 | 95.6 | |||||||||||||||
Assets in Excess of Other Liabilities | 28,188,571 | 4.4 | ||||||||||||||||
Net Assets | $ | 634,785,574 | 100.0 |
† | Unless otherwise indicated, principal amount is shown in USD. |
# | Securities with purchases pursuant to Rule 144A or section 4(2), under the Securities Act of 1933 and may not be resold subject to that rule except to qualified institutional buyers. |
## | On September 7, 2008, the Federal Housing Finance Agency placed the Federal National Mortgage Association and the Federal Home Loan Mortgage Corporation into conservatorship and the U.S. Treasury guaranteed the debt issued by those organizations. |
@ | Non-income producing security |
+ | Step-up basis bonds. Interest rates shown reflect current and next coupon rates. |
W | Settlement is on a when-issued or delayed-delivery basis. |
ˆ | Interest only securities represent the right to receive the monthly interest payments on an underlying pool of mortgage loans. Principal amount shown represents the notional amount on which current interest is calculated. Payments of principal on the pool reduce the value of the interest only security. |
BRL | Brazilian Real |
CAD | Canadian Dollar |
EUR | EU Euro |
GBP | British Pound |
ILS | Israeli Shekel |
KRW | South Korean Won |
MXN | Mexican Peso |
PEN | Peruvian Nuevo Sol |
UYU | Uruguayan Peso Uruguayo |
ZAR | South African Rand |
Cost for federal income tax purposes is $602,635,890. |
Net unrealized appreciation consists of: | ||||||
Gross Unrealized Appreciation | $ | 14,268,030 | ||||
Gross Unrealized Depreciation | (10,306,917 | ) | ||||
Net Unrealized appreciation | $ | 3,961,113 |
Sector Diversification | Percentage of Net Assets | |||||
---|---|---|---|---|---|---|
Collateralized Mortgage Obligations | 8.2 | % | ||||
Consumer Discretionary | 3.5 | |||||
Consumer Staples | 1.7 | |||||
Credit Card Asset-Backed Securities | 1.7 | |||||
Energy | 3.2 | |||||
Federal Home Loan Mortgage Corporation | 5.7 | |||||
Federal National Mortgage Association | 3.3 | |||||
Financials | 8.5 | |||||
Foreign Government Bonds | 34.8 | |||||
Government National Mortgage Association | 0.6 | |||||
Health Care | 0.9 | |||||
Industrials | 1.9 | |||||
Information Technology | 0.6 | |||||
Materials | 1.3 | |||||
Options on Currencies | 0.3 | |||||
Telecommunications | 2.0 | |||||
U.S. Treasury Bonds | 8.4 | |||||
U.S. Treasury Notes | 2.7 | |||||
Utilities | 1.2 | |||||
Short-Term Investments | 5.1 | |||||
Assets in Excess of Other Liabilities | 4.4 | |||||
Net Assets | 100.0 | % |
AS OF OCTOBER 31, 2011 (CONTINUED)
Quoted Prices in Active Markets for Identical Investments (Level 1) | Significant Other Observable Inputs (Level 2) | Significant Unobservable Inputs (Level 3) | Fair Value at 10/31/2011 | |||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Asset Table | ||||||||||||||||||
Investments, at value | ||||||||||||||||||
Purchased Options | $ | — | $ | 1,782,430 | $ | — | $ | 1,782,430 | ||||||||||
Corporate Bonds/Notes | — | 138,124,191 | 19,149,143 | 157,273,334 | ||||||||||||||
Collateralized Mortgage Obligations | — | 52,134,540 | — | 52,134,540 | ||||||||||||||
Short-Term Investments | 15,069,000 | 17,249,438 | — | 32,318,438 | ||||||||||||||
U.S. Treasury Obligations | 7,594,643 | 62,661,885 | — | 70,256,528 | ||||||||||||||
Foreign Government Bonds | — | 221,036,572 | — | 221,036,572 | ||||||||||||||
U.S. Government Agency Obligations | — | 61,259,024 | — | 61,259,024 | ||||||||||||||
Asset-Backed Securities | — | 10,536,137 | — | 10,536,137 | ||||||||||||||
Total Investments, at value | $ | 22,663,643 | $ | 564,784,217 | $ | 19,149,143 | $ | 606,597,003 | ||||||||||
Other Financial Instruments+ | ||||||||||||||||||
Swaps | 136,251 | 673,580 | — | 809,831 | ||||||||||||||
Futures | 1,255,278 | — | — | 1,255,278 | ||||||||||||||
Forward Foreign Currency Contracts | — | 14,830,935 | — | 14,830,935 | ||||||||||||||
Total Assets | $ | 24,055,172 | $ | 580,288,732 | $ | 19,149,143 | $ | 623,493,047 | ||||||||||
Liabilities Table | ||||||||||||||||||
Other Financial Instruments+ | ||||||||||||||||||
Swaps | $ | (165,634 | ) | $ | (10,936,806 | ) | $ | — | $ | (11,102,440 | ) | |||||||
Written Options | — | (1,279,663 | ) | — | (1,279,663 | ) | ||||||||||||
Futures | (652,639 | ) | — | — | (652,639 | ) | ||||||||||||
Forward Foreign Currency Contracts | — | (15,342,340 | ) | — | (15,342,340 | ) | ||||||||||||
Total Liabilities | $ | (818,273 | ) | $ | (27,558,809 | ) | $ | — | $ | (28,377,082 | ) |
ˆ | See Note 2, “Significant Accounting Policies” in the Notes to Financial Statements for additional information. |
+ | Other Financial Instruments are derivatives not reflected in the Portfolio of Investments and may include open forward foreign currency contracts, equity forwards, futures, swaps, and written options. Forward foreign currency contracts, equity forwards and futures are valued at the unrealized gain (loss) on the instrument. Swaps and written options are valued at the fair value of the instrument. |
Beginning Balance 10/31/2010 | Purchases | Sales | Accrued Discounts/ (Premiums) | Total Realized Gain/(Loss) | Total Unrealized Appreciation/ (Depreciation) | Transfers Into Level 3 | Transfers Out of Level 3 | Ending Balance 10/31/2011 | ||||||||||||||||||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Asset Table | ||||||||||||||||||||||||||||||||||||||
Investments, at value | ||||||||||||||||||||||||||||||||||||||
Corporate Bonds/Notes | $ | — | $ | 20,077,971 | $ | — | $ | (28 | ) | $ | — | $ | (928,800 | ) | $ | — | $ | — | $ | 19,149,143 | ||||||||||||||||||
Total Investments, at value | $ | — | $ | 20,077,971 | $ | — | $ | (28 | ) | $ | — | $ | (928,800 | ) | $ | — | $ | — | $ | 19,149,143 | ||||||||||||||||||
Other Financial Instruments+: | ||||||||||||||||||||||||||||||||||||||
Swaps | $ | 23,291 | $ | — | $ | (203,232 | ) | $ | — | $ | 203,232 | $ | (23,291 | ) | $ | — | $ | — | $ | — | ||||||||||||||||||
Total Assets | $ | 23,291 | $ | 20,077,971 | $ | (203,232 | ) | $ | (28 | ) | $ | 203,232 | $ | (952,091 | ) | $ | — | $ | — | $ | 19,149,143 | |||||||||||||||||
Liabilities Table | ||||||||||||||||||||||||||||||||||||||
Other Financial Instruments+: | ||||||||||||||||||||||||||||||||||||||
Swaps, at value | $ | (30,636 | ) | $ | — | $ | 20,155 | $ | — | $ | (20,155 | ) | $ | 30,636 | $ | — | $ | — | $ | — | ||||||||||||||||||
Total Liabilities | $ | (30,636 | ) | $ | — | $ | 20,155 | $ | — | $ | (20,155 | ) | $ | 30,636 | $ | — | $ | — | $ | — |
AS OF OCTOBER 31, 2011 (CONTINUED)
Counterparty | Currency | Contract Amount | Buy/Sell | Settlement Date | In Exchange For | Fair Value | Unrealized Appreciation (Depreciation) | |||||||||||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Citigroup, Inc. | South African Rand | 78,448,920 | Buy | 11/04/11 | $ | 9,919,884 | $ | 9,879,933 | $ | (39,951 | ) | |||||||||||||||||||
Citigroup, Inc. | Norwegian Krone | 11,674,403 | Buy | 11/18/11 | 2,113,000 | 2,094,385 | (18,615 | ) | ||||||||||||||||||||||
Citigroup, Inc. | Norwegian Krone | 6,719,427 | Buy | 11/18/11 | 1,203,000 | 1,205,464 | 2,464 | |||||||||||||||||||||||
Citigroup, Inc. | Mexican Peso | 9,503,915 | Buy | 11/04/11 | 705,000 | 712,851 | 7,851 | |||||||||||||||||||||||
Citigroup, Inc. | Australian Dollar | 13,015,908 | Buy | 12/02/11 | 13,720,485 | 13,663,975 | (56,510 | ) | ||||||||||||||||||||||
Citigroup, Inc. | Canadian Dollar | 17,374,411 | Buy | 11/04/11 | 16,552,261 | 17,429,478 | 877,217 | |||||||||||||||||||||||
Citigroup, Inc. | Czech Koruna | 42,341,708 | Buy | 12/02/11 | 2,376,815 | 2,356,118 | (20,697 | ) | ||||||||||||||||||||||
Citigroup, Inc. | EU Euro | 1,712,626 | Buy | 12/02/11 | 2,395,365 | 2,369,044 | (26,321 | ) | ||||||||||||||||||||||
Citigroup, Inc. | Japanese Yen | 6,033,511,264 | Buy | 11/04/11 | 78,575,259 | 77,180,181 | (1,395,078 | ) | ||||||||||||||||||||||
Citigroup, Inc. | New Zealand Dollar | 3,356,860 | Buy | 11/04/11 | 2,547,232 | 2,714,069 | 166,837 | |||||||||||||||||||||||
Citigroup, Inc. | New Zealand Dollar | 6,671,404 | Buy | 12/02/11 | 5,407,626 | 5,383,034 | (24,592 | ) | ||||||||||||||||||||||
Citigroup, Inc. | Swiss Franc | 3,223,467 | Buy | 11/18/11 | 3,603,705 | 3,673,191 | 69,486 | |||||||||||||||||||||||
Citigroup, Inc. | Danish Krone | 6,953,272 | Buy | 11/18/11 | 1,292,750 | 1,292,648 | (102 | ) | ||||||||||||||||||||||
Citigroup, Inc. | British Pound | 6,069,708 | Buy | 11/18/11 | 9,592,499 | 9,757,776 | 165,277 | |||||||||||||||||||||||
Citigroup, Inc. | Israeli New Shekel | 21,506,009 | Buy | 11/18/11 | 5,869,972 | 5,927,447 | 57,475 | |||||||||||||||||||||||
Citigroup, Inc. | Swedish Krona | 83,306,501 | Buy | 11/18/11 | 12,577,000 | 12,769,734 | 192,734 | |||||||||||||||||||||||
Citigroup, Inc. | Norwegian Krone | 50,463,411 | Buy | 11/18/11 | 8,963,000 | 9,053,125 | 90,125 | |||||||||||||||||||||||
Citigroup, Inc. | Australian Dollar | 13,015,908 | Buy | 11/18/11 | 12,255,232 | 13,687,427 | 1,432,195 | |||||||||||||||||||||||
Credit Suisse First Boston | Japanese Yen | 936,302,819 | Buy | 11/04/11 | 12,366,000 | 11,977,109 | (388,891 | ) | ||||||||||||||||||||||
Credit Suisse First Boston | Japanese Yen | 245,829,276 | Buy | 11/04/11 | 3,234,000 | 3,144,628 | (89,372 | ) | ||||||||||||||||||||||
Credit Suisse First Boston | Canadian Dollar | 1,238,796 | Buy | 11/04/11 | 1,224,000 | 1,242,722 | 18,722 | |||||||||||||||||||||||
Credit Suisse First Boston | Mexican Peso | 105,124,593 | Buy | 11/04/11 | 7,775,000 | 7,884,983 | 109,983 | |||||||||||||||||||||||
Credit Suisse First Boston | Japanese Yen | 100,277,123 | Buy | 11/04/11 | 1,309,000 | 1,282,737 | (26,263 | ) | ||||||||||||||||||||||
Credit Suisse First Boston | New Zealand Dollar | 8,365,470 | Buy | 11/04/11 | 6,280,000 | 6,763,601 | 483,601 | |||||||||||||||||||||||
Credit Suisse First Boston | Japanese Yen | 6,089,030,732 | Buy | 12/02/11 | 78,037,584 | 77,930,625 | (106,959 | ) | ||||||||||||||||||||||
Credit Suisse First Boston | Japanese Yen | 196,983,530 | Buy | 12/02/11 | 2,528,000 | 2,521,099 | (6,901 | ) | ||||||||||||||||||||||
Deutsche Bank AG | Japanese Yen | 165,871,712 | Buy | 11/04/11 | 2,182,000 | 2,121,817 | (60,183 | ) | ||||||||||||||||||||||
Deutsche Bank AG | EU Euro | 13,125,103 | Buy | 11/04/11 | 18,196,000 | 18,160,502 | (35,498 | ) | ||||||||||||||||||||||
Deutsche Bank AG | Turkish Lira | 35,078,265 | Buy | 11/04/11 | 19,057,024 | 19,818,451 | 761,427 | |||||||||||||||||||||||
Deutsche Bank AG | Canadian Dollar | 3,283,772 | Buy | 11/04/11 | 3,238,000 | 3,294,180 | 56,180 | |||||||||||||||||||||||
Deutsche Bank AG | Japanese Yen | 209,587,057 | Buy | 11/04/11 | 2,728,000 | 2,681,020 | (46,980 | ) | ||||||||||||||||||||||
Deutsche Bank AG | Canadian Dollar | 454,904 | Buy | 11/04/11 | 446,000 | 456,346 | 10,346 | |||||||||||||||||||||||
Deutsche Bank AG | Norwegian Krone | 11,491,727 | Buy | 11/18/11 | 2,116,000 | 2,061,613 | (54,387 | ) | ||||||||||||||||||||||
Deutsche Bank AG | Norwegian Krone | 11,608,936 | Buy | 11/18/11 | 2,154,000 | 2,082,640 | (71,360 | ) | ||||||||||||||||||||||
Deutsche Bank AG | Swedish Krona | 10,912,202 | Buy | 11/18/11 | 1,726,000 | 1,672,690 | (53,310 | ) | ||||||||||||||||||||||
Deutsche Bank AG | Norwegian Krone | 10,500,748 | Buy | 11/18/11 | 1,902,000 | 1,883,832 | (18,168 | ) | ||||||||||||||||||||||
Deutsche Bank AG | Canadian Dollar | 12,837,178 | Buy | 11/04/11 | 12,480,000 | 12,877,864 | 397,864 | |||||||||||||||||||||||
Deutsche Bank AG | Norwegian Krone | 10,431,466 | Buy | 11/18/11 | 1,886,000 | 1,871,403 | (14,597 | ) | ||||||||||||||||||||||
Deutsche Bank AG | EU Euro | 306,848 | Buy | 11/04/11 | 417,783 | 424,569 | 6,786 | |||||||||||||||||||||||
Deutsche Bank AG | British Pound | 2,022,848 | Buy | 11/18/11 | 3,236,000 | 3,251,968 | 15,968 | |||||||||||||||||||||||
Deutsche Bank AG | Japanese Yen | 84,740,503 | Buy | 11/04/11 | 1,106,000 | 1,083,994 | (22,006 | ) | ||||||||||||||||||||||
Deutsche Bank AG | British Pound | 276,942 | Buy | 11/18/11 | 441,000 | 445,217 | 4,217 | |||||||||||||||||||||||
Deutsche Bank AG | Japanese Yen | 92,557,364 | Buy | 11/04/11 | 1,206,000 | 1,183,986 | (22,014 | ) | ||||||||||||||||||||||
Deutsche Bank AG | British Pound | 346,553 | Buy | 11/18/11 | 547,000 | 557,125 | 10,125 | |||||||||||||||||||||||
Deutsche Bank AG | Japanese Yen | 17,345,048 | Buy | 11/04/11 | 226,000 | 221,876 | (4,124 | ) | ||||||||||||||||||||||
Deutsche Bank AG | Australian Dollar | 26,288,671 | Buy | 11/04/11 | 25,210,731 | 27,692,073 | 2,481,342 | |||||||||||||||||||||||
Deutsche Bank AG | Czech Koruna | 42,341,708 | Buy | 11/04/11 | 2,264,023 | 2,355,818 | 91,795 | |||||||||||||||||||||||
Deutsche Bank AG | EU Euro | 3,335,567 | Buy | 11/04/11 | 4,411,000 | 4,615,245 | 204,245 | |||||||||||||||||||||||
Deutsche Bank AG | Malaysian Ringgit | 40,257,467 | Buy | 11/18/11 | 12,918,769 | 13,107,897 | 189,128 | |||||||||||||||||||||||
Deutsche Bank AG | Polish Zloty | 18,422,821 | Buy | 11/18/11 | 5,771,000 | 5,779,820 | 8,820 | |||||||||||||||||||||||
Deutsche Bank AG | Polish Zloty | 15,250,663 | Buy | 11/18/11 | 4,873,000 | 4,784,614 | (88,386 | ) | ||||||||||||||||||||||
Deutsche Bank AG | Singapore Dollar | 15,034,202 | Buy | 11/18/11 | 12,092,496 | 11,981,295 | (111,201 | ) | ||||||||||||||||||||||
Deutsche Bank AG | Brazilian Real | 31,651,204 | Buy | 12/16/11 | 16,541,000 | 18,231,933 | 1,690,933 | |||||||||||||||||||||||
HSBC | Peruvian Nuevo Sol | 16,030,336 | Buy | 11/18/11 | 5,917,000 | 5,911,645 | (5,355 | ) | ||||||||||||||||||||||
HSBC | Mexican Peso | 90,649,280 | Buy | 12/02/11 | 6,826,000 | 6,780,592 | (45,408 | ) | ||||||||||||||||||||||
HSBC | Polish Zloty | 38,573,976 | Buy | 11/18/11 | 12,406,000 | 12,101,874 | (304,126 | ) | ||||||||||||||||||||||
HSBC | Russian Ruble | 88,119,200 | Buy | 11/18/11 | 2,840,722 | 2,896,282 | 55,560 | |||||||||||||||||||||||
HSBC | Colombian Peso | 11,225,340,000 | Buy | 12/16/11 | 6,040,000 | 6,011,540 | (28,460 | ) |
AS OF OCTOBER 31, 2011 (CONTINUED)
Counterparty | Currency | Contract Amount | Buy/Sell | Settlement Date | In Exchange For | Fair Value | Unrealized Appreciation (Depreciation) | |||||||||||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
HSBC | Colombian Peso | 11,535,770,800 | Buy | 12/16/11 | $ | 6,101,000 | $ | 6,177,786 | $ | 76,786 | ||||||||||||||||||||
HSBC | Philippine Peso | 488,281,730 | Buy | 11/18/11 | 11,149,257 | 11,439,814 | 290,557 | |||||||||||||||||||||||
HSBC | Colombian Peso | 9,570,554,473 | Buy | 12/16/11 | 5,067,003 | 5,125,348 | 58,345 | |||||||||||||||||||||||
HSBC | Brazilian Real | 11,789,506 | Buy | 12/16/11 | 6,348,000 | 6,791,068 | 443,068 | |||||||||||||||||||||||
HSBC | Chinese Yuan | 63,676,320 | Buy | 03/02/12 | 10,012,000 | 10,032,603 | 20,603 | |||||||||||||||||||||||
JPMorgan Chase & Co. | Mexican Peso | 79,126,100 | Buy | 11/04/11 | 6,080,173 | 5,934,938 | (145,235 | ) | ||||||||||||||||||||||
JPMorgan Chase & Co. | Turkish Lira | 32,291,813 | Buy | 11/04/11 | 18,481,010 | 18,244,167 | (236,843 | ) | ||||||||||||||||||||||
JPMorgan Chase & Co. | Japanese Yen | 205,526,910 | Buy | 11/04/11 | 2,708,000 | 2,629,083 | (78,917 | ) | ||||||||||||||||||||||
JPMorgan Chase & Co. | Mexican Peso | 85,472,567 | Buy | 11/04/11 | 6,494,000 | 6,410,962 | (83,038 | ) | ||||||||||||||||||||||
JPMorgan Chase & Co. | Australian Dollar | 17,681,878 | Buy | 11/04/11 | 18,183,000 | 18,625,812 | 442,812 | |||||||||||||||||||||||
JPMorgan Chase & Co. | Australian Dollar | 844,002 | Buy | 11/04/11 | 869,000 | 889,059 | 20,059 | |||||||||||||||||||||||
JPMorgan Chase & Co. | Australian Dollar | 1,037,847 | Buy | 11/04/11 | 1,059,000 | 1,093,251 | 34,251 | |||||||||||||||||||||||
JPMorgan Chase & Co. | Canadian Dollar | 1,261,858 | Buy | 11/04/11 | 1,239,000 | 1,265,858 | 26,858 | |||||||||||||||||||||||
JPMorgan Chase & Co. | British Pound | 5,929,982 | Buy | 11/18/11 | 9,556,000 | 9,533,151 | (22,849 | ) | ||||||||||||||||||||||
JPMorgan Chase & Co. | Japanese Yen | 253,752,919 | Buy | 11/04/11 | 3,283,000 | 3,245,987 | (37,013 | ) | ||||||||||||||||||||||
JPMorgan Chase & Co. | British Pound | 3,910,609 | Buy | 11/18/11 | 6,304,000 | 6,286,769 | (17,231 | ) | ||||||||||||||||||||||
JPMorgan Chase & Co. | Canadian Dollar | 1,998,630 | Buy | 11/04/11 | 1,968,000 | 2,004,964 | 36,964 | |||||||||||||||||||||||
JPMorgan Chase & Co. | Mexican Peso | 49,403,564 | Buy | 11/04/11 | 3,730,274 | 3,705,567 | (24,707 | ) | ||||||||||||||||||||||
JPMorgan Chase & Co. | Mexican Peso | 103,532,820 | Buy | 11/04/11 | 7,736,605 | 7,765,591 | 28,986 | |||||||||||||||||||||||
JPMorgan Chase & Co. | Mexican Peso | 66,314,145 | Buy | 11/04/11 | 4,973,833 | 4,973,963 | 130 | |||||||||||||||||||||||
JPMorgan Chase & Co. | Canadian Dollar | 2,008,258 | Buy | 11/04/11 | 1,932,000 | 2,014,623 | 82,623 | |||||||||||||||||||||||
JPMorgan Chase & Co. | Canadian Dollar | 7,758,641 | Buy | 12/02/11 | 7,783,556 | 7,778,237 | (5,319 | ) | ||||||||||||||||||||||
JPMorgan Chase & Co. | Canadian Dollar | 3,266,511 | Buy | 12/02/11 | 3,281,000 | 3,274,761 | (6,239 | ) | ||||||||||||||||||||||
JPMorgan Chase & Co. | Mexican Peso | 93,570,900 | Buy | 11/18/11 | 6,698,326 | 7,008,703 | 310,377 | |||||||||||||||||||||||
JPMorgan Chase & Co. | Singapore Dollar | 8,487,212 | Buy | 12/16/11 | 6,562,000 | 6,763,829 | 201,829 | |||||||||||||||||||||||
Morgan Stanley | Canadian Dollar | 6,374,485 | Buy | 11/04/11 | 6,288,000 | 6,394,688 | 106,688 | |||||||||||||||||||||||
Morgan Stanley | Indian Rupee | 1,415,934,710 | Buy | 11/18/11 | 28,799,648 | 28,982,303 | 182,655 | |||||||||||||||||||||||
Morgan Stanley | South Korean Won | 7,345,683,000 | Buy | 11/18/11 | 6,273,000 | 6,619,526 | 346,526 | |||||||||||||||||||||||
Morgan Stanley | Indonesian Rupiah | 43,590,040,000 | Buy | 12/16/11 | 4,931,000 | 4,899,303 | (31,697 | ) | ||||||||||||||||||||||
Morgan Stanley | South Korean Won | 7,410,352,500 | Buy | 11/18/11 | 6,354,000 | 6,677,802 | 323,802 | |||||||||||||||||||||||
Morgan Stanley | South Korean Won | 3,232,320,000 | Buy | 11/18/11 | 2,730,000 | 2,912,789 | 182,789 | |||||||||||||||||||||||
Morgan Stanley | Singapore Dollar | 7,505,208 | Buy | 12/16/11 | 5,918,000 | 5,981,227 | 63,227 | |||||||||||||||||||||||
Morgan Stanley | South Korean Won | 6,857,064,000 | Buy | 11/18/11 | 5,816,000 | 6,179,209 | 363,209 | |||||||||||||||||||||||
Morgan Stanley | South Korean Won | 3,391,584,000 | Buy | 11/18/11 | 2,884,000 | 3,056,309 | 172,309 | |||||||||||||||||||||||
Morgan Stanley | South Korean Won | 3,205,306,000 | Buy | 11/18/11 | 2,795,000 | 2,888,445 | 93,445 | |||||||||||||||||||||||
Morgan Stanley | Indonesian Rupiah | 60,163,709,200 | Buy | 12/16/11 | 6,775,956 | 6,762,101 | (13,855 | ) | ||||||||||||||||||||||
Morgan Stanley | South Korean Won | 4,161,878,000 | Buy | 11/18/11 | 3,763,000 | 3,750,456 | (12,544 | ) | ||||||||||||||||||||||
UBS Warburg LLC | Canadian Dollar | 2,716,380 | Buy | 11/04/11 | 2,735,000 | 2,724,989 | (10,011 | ) | ||||||||||||||||||||||
UBS Warburg LLC | Canadian Dollar | 6,497,600 | Buy | 11/04/11 | 6,541,000 | 6,518,194 | (22,806 | ) | ||||||||||||||||||||||
UBS Warburg LLC | New Zealand Dollar | 2,859,706 | Buy | 11/04/11 | 2,273,000 | 2,312,113 | 39,113 | |||||||||||||||||||||||
UBS Warburg LLC | New Zealand Dollar | 1,469,284 | Buy | 11/04/11 | 1,171,000 | 1,187,937 | 16,937 | |||||||||||||||||||||||
UBS Warburg LLC | New Zealand Dollar | 1,454,670 | Buy | 11/04/11 | 1,120,000 | 1,176,121 | 56,121 | |||||||||||||||||||||||
$ | 9,745,653 | |||||||||||||||||||||||||||||
Citigroup, Inc. | New Zealand Dollar | 2,268,198 | Sell | 11/04/11 | $ | 1,862,000 | $ | 1,833,870 | $ | 28,130 | ||||||||||||||||||||
Citigroup, Inc. | Australian Dollar | 13,015,908 | Sell | 11/18/11 | 13,743,862 | 13,687,428 | 56,434 | |||||||||||||||||||||||
Citigroup, Inc. | EU Euro | 4,923,358 | Sell | 11/04/11 | 6,555,382 | 6,812,186 | (256,804 | ) | ||||||||||||||||||||||
Citigroup, Inc. | Taiwan New Dollar | 310,515,064 | Sell | 12/16/11 | 10,322,974 | 10,389,151 | (66,177 | ) | ||||||||||||||||||||||
Credit Suisse First Boston | Japanese Yen | 274,074,052 | Sell | 11/04/11 | 3,598,000 | 3,505,933 | 92,067 | |||||||||||||||||||||||
Credit Suisse First Boston | Mexican Peso | 66,209,243 | Sell | 11/04/11 | 4,936,000 | 4,966,096 | (30,096 | ) | ||||||||||||||||||||||
Credit Suisse First Boston | British Pound | 7,684,193 | Sell | 11/18/11 | 12,223,000 | 12,353,254 | (130,254 | ) | ||||||||||||||||||||||
Deutsche Bank AG | New Zealand Dollar | 8,566,388 | Sell | 11/04/11 | 6,453,000 | 6,926,046 | (473,046 | ) | ||||||||||||||||||||||
Deutsche Bank AG | Australian Dollar | 2,101,069 | Sell | 11/04/11 | 2,254,000 | 2,213,233 | 40,767 | |||||||||||||||||||||||
Deutsche Bank AG | Australian Dollar | 1,769,122 | Sell | 11/04/11 | 1,836,000 | 1,863,565 | (27,565 | ) | ||||||||||||||||||||||
Deutsche Bank AG | Australian Dollar | 11,722,969 | Sell | 11/04/11 | 12,223,000 | 12,348,790 | (125,790 | ) | ||||||||||||||||||||||
Deutsche Bank AG | Australian Dollar | 1,745,211 | Sell | 11/04/11 | 1,820,000 | 1,838,378 | (18,378 | ) | ||||||||||||||||||||||
Deutsche Bank AG | Canadian Dollar | 2,736,459 | Sell | 11/04/11 | 2,722,000 | 2,745,132 | (23,132 | ) | ||||||||||||||||||||||
Deutsche Bank AG | Australian Dollar | 1,792,464 | Sell | 11/04/11 | 1,876,000 | 1,888,153 | (12,153 | ) | ||||||||||||||||||||||
Deutsche Bank AG | EU Euro | 855,202 | Sell | 11/04/11 | 1,178,000 | 1,183,297 | (5,297 | ) | ||||||||||||||||||||||
Deutsche Bank AG | Japanese Yen | 128,957,106 | Sell | 11/04/11 | 1,679,000 | 1,649,609 | 29,391 | |||||||||||||||||||||||
Deutsche Bank AG | Japanese Yen | 141,884,139 | Sell | 11/04/11 | 1,847,000 | 1,814,970 | 32,030 | |||||||||||||||||||||||
Deutsche Bank AG | Australian Dollar | 14,605,911 | Sell | 11/04/11 | 14,883,000 | 15,385,637 | (502,637 | ) | ||||||||||||||||||||||
Deutsche Bank AG | British Pound | 2,671,352 | Sell | 11/18/11 | 4,310,000 | 4,294,516 | 15,484 | |||||||||||||||||||||||
Deutsche Bank AG | Japanese Yen | 1,397,093,829 | Sell | 11/04/11 | 18,097,000 | 17,871,510 | 225,490 |
AS OF OCTOBER 31, 2011 (CONTINUED)
Counterparty | Currency | Contract Amount | Buy/Sell | Settlement Date | In Exchange For | Fair Value | Unrealized Appreciation (Depreciation) | |||||||||||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Deutsche Bank AG | Japanese Yen | 314,262,138 | Sell | 11/04/11 | $ | 4,088,000 | $ | 4,020,015 | $ | 67,985 | ||||||||||||||||||||
Deutsche Bank AG | EU Euro | 5,096,958 | Sell | 11/04/11 | 7,024,000 | 7,052,387 | (28,387 | ) | ||||||||||||||||||||||
Deutsche Bank AG | British Pound | 1,727,250 | Sell | 11/18/11 | 2,753,000 | 2,776,760 | (23,760 | ) | ||||||||||||||||||||||
Deutsche Bank AG | EU Euro | 4,179,374 | Sell | 11/04/11 | 5,694,000 | 5,782,776 | (88,776 | ) | ||||||||||||||||||||||
Deutsche Bank AG | Australian Dollar | 1,338,171 | Sell | 11/04/11 | 1,334,000 | 1,409,608 | (75,608 | ) | ||||||||||||||||||||||
Deutsche Bank AG | Turkish Lira | 52,801,200 | Sell | 11/04/11 | 28,694,745 | 29,831,522 | (1,136,777 | ) | ||||||||||||||||||||||
Deutsche Bank AG | Australian Dollar | 1,153,379 | Sell | 11/04/11 | 1,122,000 | 1,214,951 | (92,951 | ) | ||||||||||||||||||||||
Deutsche Bank AG | British Pound | 1,833,514 | Sell | 11/18/11 | 2,894,000 | 2,947,592 | (53,592 | ) | ||||||||||||||||||||||
Deutsche Bank AG | Norwegian Krone | 6,862,668 | Sell | 11/18/11 | 1,222,000 | 1,231,161 | (9,161 | ) | ||||||||||||||||||||||
Deutsche Bank AG | Canadian Dollar | 3,768,183 | Sell | 11/04/11 | 3,545,000 | 3,780,125 | (235,125 | ) | ||||||||||||||||||||||
Deutsche Bank AG | British Pound | 1,097,995 | Sell | 11/18/11 | 1,730,000 | 1,765,158 | (35,158 | ) | ||||||||||||||||||||||
Deutsche Bank AG | Norwegian Krone | 44,130,756 | Sell | 11/18/11 | 7,879,388 | 7,917,048 | (37,660 | ) | ||||||||||||||||||||||
Deutsche Bank AG | Swedish Krona | 7,090,182 | Sell | 11/18/11 | 1,065,000 | 1,086,827 | (21,827 | ) | ||||||||||||||||||||||
Deutsche Bank AG | Colombian Peso | 19,548,160,000 | Sell | 12/16/11 | 10,240,000 | 10,468,685 | (228,685 | ) | ||||||||||||||||||||||
Deutsche Bank AG | Philippine Peso | 488,281,730 | Sell | 11/18/11 | 11,147,985 | 11,439,814 | (291,829 | ) | ||||||||||||||||||||||
Deutsche Bank AG | Indonesian Rupiah | 6,371,590,260 | Sell | 12/16/11 | 715,909 | 716,135 | (226 | ) | ||||||||||||||||||||||
Deutsche Bank AG | Singapore Dollar | 8,263,846 | Sell | 12/16/11 | 6,280,000 | 6,585,819 | (305,819 | ) | ||||||||||||||||||||||
Deutsche Bank AG | Singapore Dollar | 10,101,474 | Sell | 12/16/11 | 7,992,235 | 8,050,304 | (58,069 | ) | ||||||||||||||||||||||
HSBC | South African Rand | 79,680,632 | Sell | 11/04/11 | 10,026,000 | 10,035,056 | (9,056 | ) | ||||||||||||||||||||||
HSBC | Peruvian Nuevo Sol | 16,171,764 | Sell | 11/18/11 | 5,926,328 | 5,963,800 | (37,472 | ) | ||||||||||||||||||||||
HSBC | Brazilian Real | 17,170,417 | Sell | 12/16/11 | 9,977,000 | 9,890,616 | 86,384 | |||||||||||||||||||||||
HSBC | South Korean Won | 3,322,705,000 | Sell | 11/18/11 | 2,846,000 | 2,994,239 | (148,239 | ) | ||||||||||||||||||||||
HSBC | South Korean Won | 4,367,870,460 | Sell | 11/18/11 | 3,791,061 | 3,936,085 | (145,024 | ) | ||||||||||||||||||||||
HSBC | Polish Zloty | 19,299,733 | Sell | 11/18/11 | 5,977,000 | 6,054,935 | (77,935 | ) | ||||||||||||||||||||||
HSBC | Colombian Peso | 26,398,542,437 | Sell | 12/16/11 | 13,888,853 | 14,137,291 | (248,438 | ) | ||||||||||||||||||||||
HSBC | Brazilian Real | 27,544,671 | Sell | 12/16/11 | 15,270,357 | 15,866,461 | (596,104 | ) | ||||||||||||||||||||||
HSBC | Brazilian Real | 61,962,971 | Sell | 12/16/11 | 35,566,955 | 35,692,315 | (125,360 | ) | ||||||||||||||||||||||
JPMorgan Chase & Co. | Mexican Peso | 79,126,100 | Sell | 11/03/11 | 6,080,683 | 5,935,523 | 145,160 | |||||||||||||||||||||||
JPMorgan Chase & Co. | Australian Dollar | 1,902,935 | Sell | 11/04/11 | 2,038,000 | 2,004,522 | 33,478 | |||||||||||||||||||||||
JPMorgan Chase & Co. | Canadian Dollar | 18,749,937 | Sell | 11/04/11 | 18,433,000 | 18,809,363 | (376,363 | ) | ||||||||||||||||||||||
JPMorgan Chase & Co. | Mexican Peso | 84,736,791 | Sell | 11/04/11 | 6,233,301 | 6,355,774 | (122,473 | ) | ||||||||||||||||||||||
JPMorgan Chase & Co. | Australian Dollar | 16,066,411 | Sell | 11/04/11 | 16,296,000 | 16,924,104 | (628,104 | ) | ||||||||||||||||||||||
JPMorgan Chase & Co. | Turkish Lira | 15,846,840 | Sell | 11/04/11 | 8,614,496 | 8,953,117 | (338,621 | ) | ||||||||||||||||||||||
JPMorgan Chase & Co. | Australian Dollar | 12,860,778 | Sell | 11/04/11 | 12,600,000 | 13,547,341 | (947,341 | ) | ||||||||||||||||||||||
JPMorgan Chase & Co. | Mexican Peso | 100,561,526 | Sell | 11/04/11 | 7,452,189 | 7,542,726 | (90,537 | ) | ||||||||||||||||||||||
JPMorgan Chase & Co. | Australian Dollar | 1,901,164 | Sell | 11/04/11 | 1,829,000 | 2,002,657 | (173,657 | ) | ||||||||||||||||||||||
JPMorgan Chase & Co. | British Pound | 1,712,312 | Sell | 11/18/11 | 2,686,000 | 2,752,746 | (66,746 | ) | ||||||||||||||||||||||
JPMorgan Chase & Co. | Turkish Lira | 1,277,963 | Sell | 12/02/11 | 723,388 | 717,481 | 5,907 | |||||||||||||||||||||||
JPMorgan Chase & Co. | Australian Dollar | 1,394,937 | Sell | 12/02/11 | 1,473,000 | 1,464,391 | 8,609 | |||||||||||||||||||||||
JPMorgan Chase & Co. | Swedish Krona | 68,545,844 | Sell | 11/18/11 | 10,392,505 | 10,507,130 | (114,625 | ) | ||||||||||||||||||||||
JPMorgan Chase & Co. | British Pound | 3,540,241 | Sell | 11/18/11 | 5,580,000 | 5,691,358 | (111,358 | ) | ||||||||||||||||||||||
JPMorgan Chase & Co. | Hungarian Forint | 1,722,319,670 | Sell | 11/18/11 | 7,753,185 | 7,795,765 | (42,580 | ) | ||||||||||||||||||||||
JPMorgan Chase & Co. | Polish Zloty | 19,189,889 | Sell | 11/18/11 | 6,088,665 | 6,020,474 | 68,191 | |||||||||||||||||||||||
Morgan Stanley | Canadian Dollar | 11,115,532 | Sell | 11/04/11 | 10,946,000 | 11,150,761 | (204,761 | ) | ||||||||||||||||||||||
Morgan Stanley | Canadian Dollar | 5,419,921 | Sell | 11/04/11 | 5,254,000 | 5,437,099 | (183,099 | ) | ||||||||||||||||||||||
Morgan Stanley | Australian Dollar | 1,709,871 | Sell | 11/04/11 | 1,662,000 | 1,801,151 | (139,151 | ) | ||||||||||||||||||||||
Morgan Stanley | South African Rand | 187,910,982 | Sell | 11/04/11 | 23,036,708 | 23,665,690 | (628,982 | ) | ||||||||||||||||||||||
Morgan Stanley | Australian Dollar | 30,567,582 | Sell | 12/02/11 | 32,225,720 | 32,089,552 | 136,168 | |||||||||||||||||||||||
Morgan Stanley | South Korean Won | 5,488,749,000 | Sell | 11/18/11 | 4,746,000 | 4,946,159 | (200,159 | ) | ||||||||||||||||||||||
Morgan Stanley | South Korean Won | 2,874,435,600 | Sell | 11/18/11 | 2,388,000 | 2,590,283 | (202,283 | ) | ||||||||||||||||||||||
Morgan Stanley | New Zealand Dollar | 8,329,774 | Sell | 11/18/11 | 6,265,506 | 6,727,941 | (462,435 | ) | ||||||||||||||||||||||
Morgan Stanley | South Korean Won | 17,112,066,550 | Sell | 11/18/11 | 14,946,342 | 15,420,454 | (474,112 | ) | ||||||||||||||||||||||
Morgan Stanley | South Korean Won | 3,351,810,000 | Sell | 11/18/11 | 2,902,000 | 3,020,467 | (118,467 | ) | ||||||||||||||||||||||
UBS Warburg LLC | Australian Dollar | 5,750,525 | Sell | 11/04/11 | 6,137,000 | 6,057,512 | 79,488 | |||||||||||||||||||||||
$ | (10,257,058 | ) |
AS OF OCTOBER 31, 2011 (CONTINUED)
Contract Description | Number of Contracts | Expiration Date | Notional Value | Unrealized Appreciation/ (Depreciation) | ||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Long Contracts | ||||||||||||||||||
30-year German Government Bond | 19 | 12/08/11 | $ | 3,165,878 | $ | (50,069 | ) | |||||||||||
Australia 10-Year Bond | 40 | 12/15/11 | 4,705,912 | (150,573 | ) | |||||||||||||
Australia 3-Year Bond | 39 | 12/15/11 | 4,352,345 | (28,402 | ) | |||||||||||||
Canada 10-Year Bond | 28 | 12/19/11 | 3,688,668 | 36,903 | ||||||||||||||
Euro-Bund | 331 | 12/08/11 | 62,045,897 | 273,219 | ||||||||||||||
Euro-Schatz | 258 | 12/08/11 | 39,160,523 | 108,031 | ||||||||||||||
Long Gilt | 267 | 12/28/11 | 55,097,487 | 415,902 | ||||||||||||||
Short Gilt | 42 | 12/28/11 | 7,112,440 | 29,639 | ||||||||||||||
U.S. Treasury 5-Year Note | 704 | 12/30/11 | 86,317,004 | 115,845 | ||||||||||||||
U.S. Treasury Long Bond | 85 | 12/20/11 | 11,817,656 | 254,123 | ||||||||||||||
$ | 277,463,810 | $ | 1,004,618 | |||||||||||||||
Short Contracts | ||||||||||||||||||
Euro-Bobl 5-Year | 42 | 12/08/11 | $ | 7,109,838 | $ | 21,351 | ||||||||||||
Medium Gilt | 168 | 12/28/11 | 30,175,872 | (314,350 | ) | |||||||||||||
U.S. Treasury 10-Year Note | 310 | 12/20/11 | 40,009,375 | (42,588 | ) | |||||||||||||
U.S. Treasury 2-Year Note | 131 | 12/30/11 | 28,856,845 | 265 | ||||||||||||||
U.S. Treasury Ultra Long Bond | 13 | 12/20/11 | 1,980,875 | (66,657 | ) | |||||||||||||
$ | 108,132,805 | $ | (401,979 | ) |
Termination Date | Notional Amount | Fair Value | Upfront Payments Paid/ (Received) | Unrealized Appreciation/ (Depreciation) | ||||||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Receive a floating rate based on the CLP-CLUFUF and pay a floating rate based on the 6-month CLP-CHIBNOM Counterparty: Deutsche Bank AG | 08/03/13 | CLP 17,246,118,000 | $136,251 | $ | — | $ | 136,251 | |||||||||||||||
Receive a floating rate based on the 6-month CLP-CHIBNOM and pay a fixed rate equal to 4.990% Counterparty: Deutsche Bank AG | 08/03/13 | CLP 17,246,118,000 | (165,634 | ) | — | (165,634 | ) | |||||||||||||||
Receive a floating rate based on the 6-month EUR-EURIBOR-Reuters and pay a fixed rate equal to 2.670% Counterparty: Morgan Stanley | 10/31/21 | EUR 26,200,000 | (298,278 | ) | — | (298,278 | ) | |||||||||||||||
Receive a fixed rate equal to 2.890% and pay a floating rate based on the 3-month ILS-TELBOR Counterparty: Morgan Stanley | 09/10/13 | ILS 49,000,000 | 21,875 | — | 21,875 | |||||||||||||||||
Receive a fixed rate equal to 3.470% and pay a floating rate based on the 3-month ILS-TELBOR Counterparty: Morgan Stanley | 09/08/16 | ILS 41,000,000 | (14,734 | ) | — | (14,734 | ) | |||||||||||||||
Receive a fixed rate equal to 4.390% and pay a floating rate based on the 3-month ILS-TELBOR Counterparty: Morgan Stanley | 09/09/21 | ILS 11,000,000 | (14,403 | ) | — | (14,403 | ) | |||||||||||||||
Receive a floating rate based on the 3-month South Korean Won and pay fixed rate equal to 3.470% Counterparty: Bank of America | 10/05/16 | KRW 17,000,000,000 | 47,807 | — | 47,807 | |||||||||||||||||
Receive a floating rate based on the 3-month KRW-CD and pay a fixed rate equal to 3.830% Counterparty: Merrill Lynch | 06/24/13 | KRW 14,200,000,000 | (64,711 | ) | — | (64,711 | ) | |||||||||||||||
Receive a floating rate based on the 3-month KRW-CD and pay a fixed rate equal to 3.775% Counterparty: Merrill Lynch | 06/24/13 | KRW 28,480,800,000 | (107,243 | ) | — | (107,243 | ) | |||||||||||||||
Receive a fixed rate equal to 4.830% and pay a floating rate based on the 28-day MXN-TIIE-BANXICO Counterparty: Citigroup, Inc. | 08/09/13 | MXN 165,116,773 | 19,979 | — | 19,979 |
AS OF OCTOBER 31, 2011 (CONTINUED)
Termination Date | Notional Amount | Fair Value | Upfront Payments Paid/ (Received) | Unrealized Appreciation/ (Depreciation) | ||||||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Receive a floating rate based on the 28-day MXN-TIIE-BANXICO and pay a fixed rate equal to 5.580% Counterparty: Citigroup, Inc. | 08/05/16 | MXN 144,477,176 | $(68,433 | ) | $ | — | $ | (68,433 | ) | |||||||||||||
Receive a fixed rate equal to 6.480% and pay a floating rate based on the 28-day MXN-TIIE-BANXICO Counterparty: Deutsche Bank AG | 07/30/21 | MXN 41,279,193 | 14,889 | — | 14,889 | |||||||||||||||||
Receive a floating rate based on the 28-day MXN-TIIE-BANXICO and pay a fixed rate equal to 5.290% Counterparty: Morgan Stanley | 09/02/16 | MXN 143,000,000 | 80,904 | — | 80,904 | |||||||||||||||||
Receive a fixed rate equal to 6.270% and pay a floating rate based on the 28-day MXN-TIIE-BANXICO Counterparty: Morgan Stanley | 08/27/21 | MXN 82,000,000 | (79,540 | ) | — | (79,540 | ) | |||||||||||||||
Receive a floating rate based on the 6-month PLN-WIBOR-WIBO and pay fixed rate equal to 4.775% Counterparty: Morgan Stanley | 11/03/16 | PLN 40,500,000 | 14,718 | — | 14,718 | |||||||||||||||||
Receive a floating rate based on the 3-month USD-LIBOR-BBA and pay a fixed rate equal to 2.535% Counterparty: Citigroup, Inc. | 02/10/16 | USD 35,000,000 | (2,135,850 | ) | — | (2,135,850 | ) | |||||||||||||||
Receive a floating rate based on the 3-month USD-LIBOR-BBA and pay a fixed rate equal to 3.478% Counterparty: Citigroup, Inc. | 05/11/20 | USD 10,271,000 | (1,110,883 | ) | — | (1,110,883 | ) | |||||||||||||||
Receive a floating rate based on the 3-month USD-LIBOR-BBA and pay a fixed rate equal to 0.750% Counterparty: Credit Suisse First Boston | 09/19/14 | USD 60,800,000 | 28,573 | — | 28,573 | |||||||||||||||||
Receive a fixed rate equal to 1.719% and pay a floating rate based on the 3-month USD-LIBOR-BBA Counterparty: Credit Suisse First Boston | 09/19/17 | USD 40,500,000 | (72,096) | ) | — | (72,096 | ) | |||||||||||||||
Receive a fixed rate equal to 1.721% and pay a floating rate based on the 3-month USD-LIBOR-BBA Counterparty: Credit Suisse First Boston | 09/19/17 | USD 11,200,000 | (18,619 | ) | — | (18,619 | ) | |||||||||||||||
Receive a floating rate based on the 3-month USD-LIBOR-BBA and pay a fixed rate equal to 2.870% Counterparty: Credit Suisse First Boston | 12/24/17 | USD 25,000,000 | (1,829,672 | ) | — | (1,829,672 | ) | |||||||||||||||
Receive a floating rate based on the 3-month USD-LIBOR-BBA and pay a fixed rate equal to 3.444% Counterparty: Credit Suisse First Boston | 12/24/20 | USD 45,000,000 | (4,692,535 | ) | — | (4,692,535 | ) | |||||||||||||||
Receive a floating rate based on the 3-month USD-LIBOR-BBA and pay a fixed rate equal to 2.598% Counterparty: Credit Suisse First Boston | 09/19/22 | USD 4,400,000 | 5,921 | — | 5,921 | |||||||||||||||||
Receive a floating rate based on the 3-month USD-LIBOR-BBA and pay a fixed rate equal to 2.585% Counterparty: Credit Suisse First Boston | 09/19/22 | USD 12,400,000 | 30,558 | — | 30,558 | |||||||||||||||||
Receive a floating rate based on the 3-month USD-LIBOR-BBA and pay a fixed rate equal to 0.710% Counterparty: JPMorgan Chase & Co. | 09/23/14 | USD 57,000,000 | 77,117 | — | 77,117 | |||||||||||||||||
Receive a fixed rate equal to 1.593% and pay a floating rate based on the 3-month USD-LIBOR-BBA Counterparty: JPMorgan Chase & Co. | 09/23/17 | USD 52,300,000 | (429,809 | ) | — | (429,809 | ) | |||||||||||||||
Receive a floating rate based on the 3-month USD-LIBOR-BBA and pay a fixed rate equal to 2.399% Counterparty: JPMorgan Chase & Co. | 09/23/22 | USD 17,000,000 | 331,239 | — | 331,239 | |||||||||||||||||
$(10,292,609) | $ | — | $ | (10,292,609 | ) |
AS OF OCTOBER 31, 2011 (CONTINUED)
# of Contracts | Counterparty | Description | Exercise Price | Expiration Date | Premiums Received | Fair Value | |||||||||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Options On Currencies | |||||||||||||||||||||||||||
11,600,000 | Deutsche Bank AG | EUR vs JPY Currency Call Option | 106.000 EUR | 11/17/11 | $ | 284,546 | $ | (473,642 | ) | ||||||||||||||||||
18,200,000 | Deutsche Bank AG | USD vs EUR Currency Put Option | 1.425 USD | 12/15/11 | 202,179 | (161,658 | ) | ||||||||||||||||||||
61,600,000 | Deutsche Bank AG | USD vs EUR Currency Put Option | 1.440 USD | 01/16/12 | 1,017,897 | (622,648 | ) | ||||||||||||||||||||
30,800,000 | Deutsche Bank AG | USD vs EUR Currency Put Option | 1.500 USD | 12/15/11 | 46,200 | (21,715 | ) | ||||||||||||||||||||
Total Written OTC Options | $ | 1,550,822 | $ | (1,279,663 | ) |
Derivatives not accounted for as hedging instruments | Location on Statement of Assets and Liabilities | Fair Value | ||||||||
---|---|---|---|---|---|---|---|---|---|---|
Asset Derivatives | ||||||||||
Foreign exchange contracts | Investments in securities at value* | $ | 1,782,430 | |||||||
Foreign exchange contracts | Unrealized appreciation on forward foreign currency contracts | 14,830,935 | ||||||||
Interest rate contracts | Unrealized appreciation on swap agreements | 809,831 | ||||||||
Interest rate contracts | Net Assets — Unrealized appreciation** | 1,255,278 | ||||||||
Total Asset Derivatives | $ | 18,678,474 | ||||||||
Liability Derivatives | ||||||||||
Foreign exchange contracts | Unrealized depreciation on forward foreign currency contracts | $ | 15,342,340 | |||||||
Interest rate contracts | Unrealized depreciation on swap agreements | 11,102,440 | ||||||||
Interest rate contracts | Net Assets — Unrealized depreciation** | 652,639 | ||||||||
Foreign exchange contracts | Written options, at fair value | 1,279,663 | ||||||||
Total Liability Derivatives | $ | 28,377,082 |
* | Includes purchased options. |
** | Includes cumulative appreciation/depreciation of futures contracts as reported in the table following the Summary Portfolio of Investments. |
Amount of Realized Gain or (Loss) on Derivatives Recognized in Income | |||||||||||||||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Derivatives not accounted for as hedging instruments | Investments* | Foreign currency related transactions** | Futures | Swaps | Written options | Total | |||||||||||||||||||||
Credit contracts | $ | — | $ | — | $ | — | $ | (1,185,796 | ) | $ | — | $ | (1,185,796 | ) | |||||||||||||
Foreign exchange contracts | (11,570,660 | ) | (4,669,986 | ) | — | — | 10,710,630 | (5,530,016 | ) | ||||||||||||||||||
Interest rate contracts | — | — | 9,127,509 | (2,000,150 | ) | 175,543 | 7,302,902 | ||||||||||||||||||||
Total | $ | (11,570,660 | ) | $ | (4,669,986 | ) | $ | 9,127,509 | $ | (3,185,946 | ) | $ | 10,886,173 | $ | 587,090 |
Change in Unrealized Appreciation or (Depreciation) on Derivatives Recognized in Income | |||||||||||||||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Derivatives not accounted for as hedging instruments | Investments* | Foreign currency related transactions** | Futures | Swaps | Written options | Total | |||||||||||||||||||||
Credit contracts | $ | — | $ | — | $ | — | $ | 65,466 | $ | — | $ | 65,466 | |||||||||||||||
Foreign exchange contracts | (296,272 | ) | (1,837,894 | ) | — | — | (91,902 | ) | (2,226,068 | ) | |||||||||||||||||
Interest rate contracts | — | — | 836,256 | (10,155,088 | ) | — | (9,318,832 | ) | |||||||||||||||||||
Total | $ | (296,272 | ) | $ | (1,837,894 | ) | $ | 836,256 | $ | (10,089,622 | ) | $ | (91,902 | ) | $ | (11,479,434 | ) |
* | Amounts recognized for purchased options are included in net realized gain (loss) on investments and net change in unrealized appreciation or depreciation on investments. |
** | Amounts recognized for forward foreign currency contracts are included in net realized gain (loss) on foreign currency related transactions and net change in unrealized appreciation or depreciation on foreign currency related transactions. |
AS OF OCTOBER 31, 2011
Shares | | | | Value | | Percentage of Net Assets | |||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
COMMON STOCK: 96.8% | |||||||||||||||||||
Australia: 1.2% | |||||||||||||||||||
232,393 | Other Securities | $ | 1,001,653 | 1.2 | |||||||||||||||
Brazil: 0.7% | |||||||||||||||||||
23,213 | Other Securities | 587,057 | 0.7 | ||||||||||||||||
Canada: 2.5% | |||||||||||||||||||
53,615 | Other Securities | 2,005,438 | 2.5 | ||||||||||||||||
Denmark: 0.4% | |||||||||||||||||||
10,190 | Other Securities | 297,190 | 0.4 | ||||||||||||||||
France: 6.2% | |||||||||||||||||||
29,245 | Gaz de France | 823,911 | 1.0 | ||||||||||||||||
12,023 | Sanofi-Aventis | 860,114 | 1.1 | ||||||||||||||||
17,395 | Vinci S.A. | 853,022 | 1.1 | ||||||||||||||||
73,230 | Other Securities | 2,409,028 | 3.0 | ||||||||||||||||
4,946,075 | 6.2 | ||||||||||||||||||
Germany: 5.0% | |||||||||||||||||||
59,796 | Deutsche Post AG | 907,016 | 1.1 | ||||||||||||||||
85,206 | Other Securities | 3,094,334 | 3.9 | ||||||||||||||||
4,001,350 | 5.0 | ||||||||||||||||||
Hong Kong: 1.0% | |||||||||||||||||||
16,614 | China Mobile Ltd. ADR | 790,162 | 1.0 | ||||||||||||||||
Ireland: 1.0% | |||||||||||||||||||
42,424 | CRH PLC | 767,561 | �� | 1.0 | |||||||||||||||
Italy: 0.9% | |||||||||||||||||||
262,360 | Other Securities | 756,399 | 0.9 | ||||||||||||||||
Japan: 8.4% | |||||||||||||||||||
42,800 | Daiichi Sankyo Co., Ltd. | 831,374 | 1.0 | ||||||||||||||||
185,500 | Mitsubishi UFJ Financial Group, Inc. | 806,171 | 1.0 | ||||||||||||||||
59,400 | Mitsui & Co., Ltd. | 866,915 | 1.1 | ||||||||||||||||
29,900 | Sumitomo Mitsui Financial Group, Inc. | 835,751 | 1.1 | ||||||||||||||||
189,809 | Other Securities | 3,361,657 | 4.2 | ||||||||||||||||
6,701,868 | 8.4 | ||||||||||||||||||
Luxembourg: 1.0% | |||||||||||||||||||
36,959 | Other Securities | 766,272 | 1.0 | ||||||||||||||||
Netherlands: 3.9% | |||||||||||||||||||
16,880 | Akzo Nobel NV | 887,585 | 1.1 | ||||||||||||||||
33,086 | Royal Dutch Shell PLC | 1,173,217 | 1.5 | ||||||||||||||||
39,602 | Koninklijke Philips Electronics NV | 824,384 | 1.0 | ||||||||||||||||
50,404 | Other Securities | 255,215 | 0.3 | ||||||||||||||||
3,140,401 | 3.9 | ||||||||||||||||||
Portugal: 0.5% | |||||||||||||||||||
120,668 | Other Securities | 379,081 | 0.5 | ||||||||||||||||
COMMON STOCK: (continued) | |||||||||||||||||||
Singapore: 1.8% | |||||||||||||||||||
341,000 | Singapore Telecommunications Ltd. | $ | 862,155 | 1.1 | |||||||||||||||
59,500 | Other Securities | 581,182 | 0.7 | ||||||||||||||||
1,443,337 | 1.8 | ||||||||||||||||||
South Africa: 0.5% | |||||||||||||||||||
8,710 | Other Securities | 391,712 | 0.5 | ||||||||||||||||
South Korea: 0.5% | |||||||||||||||||||
11,910 | Other Securities | 410,287 | 0.5 | ||||||||||||||||
Spain: 1.0% | |||||||||||||||||||
54,082 | Other Securities | 812,118 | 1.0 | ||||||||||||||||
Sweden: 1.0% | |||||||||||||||||||
73,124 | Other Securities | 762,210 | 1.0 | ||||||||||||||||
Switzerland: 4.8% | |||||||||||||||||||
5,225 | Roche Holding AG —Genusschein | 857,263 | 1.1 | ||||||||||||||||
20,631 | Transocean Ltd. | 1,179,061 | 1.5 | ||||||||||||||||
3,897 | Zurich Financial Services AG | 898,039 | 1.1 | ||||||||||||||||
24,777 | Other Securities | 907,466 | 1.1 | ||||||||||||||||
3,841,829 | 4.8 | ||||||||||||||||||
Taiwan: 2.0% | |||||||||||||||||||
74,349 | Taiwan Semiconductor Manufacturing Co., Ltd. ADR | 938,285 | 1.2 | ||||||||||||||||
316,000 | Other Securities | 680,794 | 0.8 | ||||||||||||||||
1,619,079 | 2.0 | ||||||||||||||||||
United Kingdom: 8.6% | |||||||||||||||||||
27,661 | BHP Billiton PLC | 871,030 | 1.1 | ||||||||||||||||
282,506 | BT Group PLC | 852,383 | 1.0 | ||||||||||||||||
100,472 | HSBC Holdings PLC | 876,648 | 1.1 | ||||||||||||||||
25,775 | Imperial Tobacco Group PLC | 938,902 | 1.2 | ||||||||||||||||
100,473 | Reed Elsevier PLC | 860,131 | 1.1 | ||||||||||||||||
39,777 | Scottish & Southern Energy PLC | 859,428 | 1.1 | ||||||||||||||||
94,285 | Other Securities | 1,634,744 | 2.0 | ||||||||||||||||
6,893,266 | 8.6 | ||||||||||||||||||
United States: 43.9% | |||||||||||||||||||
17,178 | Abbott Laboratories | 925,379 | 1.2 | ||||||||||||||||
10,600 | Air Products & Chemicals, Inc. | 913,084 | 1.1 | ||||||||||||||||
28,073 | Arthur J. Gallagher & Co. | 867,456 | 1.1 | ||||||||||||||||
41,998 | AT&T, Inc. | 1,230,961 | 1.5 | ||||||||||||||||
24,700 | Bristol-Myers Squibb Co. | 780,273 | 1.0 | ||||||||||||||||
25,046 | Carnival Corp. | 881,870 | 1.1 | ||||||||||||||||
25,400 | CenturyTel, Inc. | 895,604 | 1.1 | ||||||||||||||||
7,500 | Chevron Corp. | 787,875 | 1.0 |
AS OF OCTOBER 31, 2011 (CONTINUED)
Shares | | | | Value | | Percentage of Net Assets | |||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
COMMON STOCK: (continued) | |||||||||||||||||||
United States: (continued) | |||||||||||||||||||
32,700 | Dow Chemical Co. | $ | 911,676 | 1.1 | |||||||||||||||
24,312 | Exelon Corp. | 1,079,210 | 1.3 | ||||||||||||||||
14,900 | ExxonMobil Corp. | 1,163,541 | 1.4 | ||||||||||||||||
21,027 | Freeport-McMoRan Copper & Gold, Inc. | 846,547 | 1.1 | ||||||||||||||||
72,561 | General Electric Co. | 1,212,494 | 1.5 | ||||||||||||||||
25,000 | Home Depot, Inc. | 895,000 | 1.1 | ||||||||||||||||
13,161 | Johnson & Johnson | 847,437 | 1.1 | ||||||||||||||||
24,388 | JPMorgan Chase & Co. | 847,727 | 1.1 | ||||||||||||||||
26,981 | Kraft Foods, Inc. | 949,192 | 1.2 | ||||||||||||||||
25,800 | Medtronic, Inc. | 896,292 | 1.1 | ||||||||||||||||
46,925 | Microsoft Corp. | 1,249,613 | 1.6 | ||||||||||||||||
21,969 | Molson Coors Brewing Co. | 930,167 | 1.2 | ||||||||||||||||
12,794 | PepsiCo, Inc. | 805,382 | 1.0 | ||||||||||||||||
43,547 | Pfizer, Inc. | 838,715 | 1.0 | ||||||||||||||||
43,311 | L | Pitney Bowes, Inc. | 882,678 | 1.1 | |||||||||||||||
16,000 | PNC Financial Services Group, Inc. | 859,360 | 1.1 | ||||||||||||||||
29,342 | PPL Corp. | 861,774 | 1.1 | ||||||||||||||||
10,300 | United Technologies Corp. | 803,194 | 1.0 | ||||||||||||||||
349,156 | Other Securities | 10,989,363 | 13.7 | ||||||||||||||||
35,151,864 | 43.9 | ||||||||||||||||||
Total Common Stock | |||||||||||||||||||
(Cost $78,865,402) | 77,466,209 | 96.8 |
Principal Amount† | | | | Value | | Percentage of Net Assets | |||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
SHORT-TERM INVESTMENTS: 1.6% | |||||||||||||||||||
Securities Lending Collateralcc(1): 1.6% | |||||||||||||||||||
245,467 | Cantor Fitzgerald, Repurchase Agreement dated 10/31/11, 0.15%, due 11/01/11 (Principal Amount $245,467, collateralized by various U.S. Government Agency Obligations, 0.742%– 6.579%, Market Value plus accrued interest $250,376, due 11/01/15–03/01/48) | 245,467 | 0.3 | ||||||||||||||||
1,000,000 | Citigroup, Inc., Repurchase Agreement dated 10/31/11, 0.13%, due 11/01/11 (Principal Amount $1,000,000, collateralized by various U.S. Government and U.S. Government Agency Obligations, 0.000%–6.125%, Market Value plus accrued interest $1,020,000 due 12/29/11– 05/15/37) | 1,000,000 | 1.3 | ||||||||||||||||
1,245,467 | 1.6 | ||||||||||||||||||
SHORT-TERM INVESTMENTS: (continued) | |||||||||||||||||||
Securities Lending Collateralcc(1): (continued) | |||||||||||||||||||
Total Short-Term Investments | |||||||||||||||||||
(Cost $1,245,467) | $ | 1,245,467 | 1.6 | ||||||||||||||||
Total Investments in Securities (Cost $80,110,869) | $ | 78,711,676 | 98.4 | ||||||||||||||||
Assets in Excess of Other Liabilities | 1,287,034 | 1.6 | |||||||||||||||||
Net Assets | $ | 79,998,710 | 100.0 |
† | Unless otherwise indicated, principal amount is shown in USD. |
ADR | American Depository Receipt |
cc | Securities purchased with cash collateral for securities loaned. |
L | Loaned security, a portion or all of the security is on loan at October 31, 2011. |
(1) | Collateral received from brokers for securities lending was invested into these short-term investments. |
Cost for federal income tax purposes is $81,203,749. |
Net unrealized depreciation consists of: | ||||||
Gross Unrealized Appreciation | $ | 4,417,607 | ||||
Gross Unrealized Depreciation | (6,909,680 | ) | ||||
Net Unrealized depreciation | $ | (2,492,073 | ) |
Sector Diversification | Percentage of Net Assets | |||||
---|---|---|---|---|---|---|
Consumer Discretionary | 7.1 | % | ||||
Consumer Staples | 8.6 | |||||
Energy | 10.7 | |||||
Financials | 17.7 | |||||
Health Care | 10.8 | |||||
Industrials | 12.2 | |||||
Information Technology | 8.8 | |||||
Materials | 8.6 | |||||
Telecommunications | 6.2 | |||||
Utilities | 6.1 | |||||
Short-Term Investments | 1.6 | |||||
Assets in Excess of Other Liabilities | 1.6 | |||||
Net Assets | 100.0 | % |
AS OF OCTOBER 31, 2011 (CONTINUED)
Quoted Prices in Active Markets for Identical Investments (Level 1) | Significant Other Observable Inputs# (Level 2) | Significant Unobservable Inputs (Level 3) | Fair Value at 10/31/2011 | |||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Asset Table | ||||||||||||||||||
Investments, at value | ||||||||||||||||||
Common Stock | ||||||||||||||||||
Australia | $ | — | $ | 1,001,653 | $ | — | $ | 1,001,653 | ||||||||||
Brazil | 587,057 | — | — | 587,057 | ||||||||||||||
Canada | 2,005,438 | — | — | 2,005,438 | ||||||||||||||
Denmark | — | 297,190 | — | 297,190 | ||||||||||||||
France | — | 4,946,075 | — | 4,946,075 | ||||||||||||||
Germany | — | 4,001,350 | — | 4,001,350 | ||||||||||||||
Hong Kong | 790,162 | — | — | 790,162 | ||||||||||||||
Ireland | — | 767,561 | — | 767,561 | ||||||||||||||
Italy | — | 756,399 | — | 756,399 | ||||||||||||||
Japan | — | 6,701,868 | — | 6,701,868 | ||||||||||||||
Luxembourg | — | 766,272 | — | 766,272 | ||||||||||||||
Netherlands | — | 3,140,401 | — | 3,140,401 | ||||||||||||||
Portugal | — | 379,081 | — | 379,081 | ||||||||||||||
Singapore | — | 1,443,337 | — | 1,443,337 | ||||||||||||||
South Africa | — | 391,712 | — | 391,712 | ||||||||||||||
South Korea | — | 410,287 | — | 410,287 | ||||||||||||||
Spain | — | 812,118 | — | 812,118 | ||||||||||||||
Sweden | — | 762,210 | — | 762,210 | ||||||||||||||
Switzerland | 1,179,061 | 2,662,768 | — | 3,841,829 | ||||||||||||||
Taiwan | 938,285 | 680,794 | — | 1,619,079 | ||||||||||||||
United Kingdom | 387,348 | 6,505,918 | — | 6,893,266 | ||||||||||||||
United States | 35,151,864 | — | — | 35,151,864 | ||||||||||||||
Total Common Stock | 41,039,215 | 36,426,994 | — | 77,466,209 | ||||||||||||||
Short-Term Investments | — | 1,245,467 | — | 1,245,467 | ||||||||||||||
Total Investments, at value | $ | 41,039,215 | $ | 37,672,461 | $ | — | $ | 78,711,676 |
ˆ | See Note 2, “Significant Accounting Policies” in the Notes to Financial Statements for additional information. |
# | The earlier close of the foreign markets gives rise to the possibility that significant events, including broad market moves, may have occurred in the interim and may materially affect the value of those securities. To account for this, the Portfolio may frequently value many of its foreign equity securities using fair value prices based on third party vendor modeling tools to the extent available. Accordingly, a significant portion of the Portfolio’s investments are categorized as Level 2 investments. |
Beginning Balance 10/31/2010 | Purchases | Sales | Accrued Discounts/ (Premiums) | Total Realized Gain/(Loss) | Total Unrealized Appreciation/ (Depreciation) | Transfers Into Level 3 | Transfers Out of Level 3 | Ending Balance 10/31/2011 | ||||||||||||||||||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Asset Table | ||||||||||||||||||||||||||||||||||||||
Investments, at value | ||||||||||||||||||||||||||||||||||||||
Short-Term Investments | $ | 99,120 | $ | — | $ | (99,120 | ) | $ | — | $ | (24,780 | ) | $ | 24,780 | $ | — | $ | — | $ | — | ||||||||||||||||||
Total Investments, at value | $ | 99,120 | $ | — | $ | (99,120 | ) | $ | — | $ | (24,780 | ) | $ | 24,780 | $ | — | $ | — | $ | — |
AS OF OCTOBER 31, 2011
Shares | | | | Value | | Percentage of Net Assets | |||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
COMMON STOCK: 98.1% | |||||||||||||||||||
Argentina: 0.9% | |||||||||||||||||||
29,600 | YPF SA ADR | $ | 994,856 | 0.9 | |||||||||||||||
Canada: 9.9% | |||||||||||||||||||
59,549 | Barrick Gold Corp. | 2,947,675 | 2.6 | ||||||||||||||||
48,500 | Centerra Gold, Inc. | 961,485 | 0.9 | ||||||||||||||||
61,208 | GoldCorp, Inc. | 2,989,399 | 2.6 | ||||||||||||||||
55,000 | @ | Harry Winston Diamond Corp. | 666,566 | 0.6 | |||||||||||||||
135,200 | @ | Lundin Mining Corp. | 530,356 | 0.5 | |||||||||||||||
48,429 | Teck Cominco Ltd. — Class B | 1,942,003 | 1.7 | ||||||||||||||||
65,789 | Trican Well Services Ltd. | 1,163,642 | 1.0 | ||||||||||||||||
11,201,126 | 9.9 | ||||||||||||||||||
France: 1.5% | |||||||||||||||||||
18,487 | Technip S.A. | 1,748,076 | 1.5 | ||||||||||||||||
Netherlands: 4.2% | |||||||||||||||||||
66,373 | Royal Dutch Shell PLC — Class A ADR | 4,706,509 | 4.2 | ||||||||||||||||
Norway: 2.4% | |||||||||||||||||||
104,600 | Statoil ASA ADR | 2,659,978 | 2.4 | ||||||||||||||||
United Kingdom: 4.6% | |||||||||||||||||||
30,200 | Antofagasta PLC | 562,083 | 0.5 | ||||||||||||||||
85,231 | BG Group PLC | 1,848,148 | 1.6 | ||||||||||||||||
45,365 | Ensco International PLC ADR | 2,252,826 | 2.0 | ||||||||||||||||
5,100 | Randgold Resources Ltd. ADR | 558,807 | 0.5 | ||||||||||||||||
5,221,864 | 4.6 | ||||||||||||||||||
United States: 74.6% | |||||||||||||||||||
46,200 | Anadarko Petroleum Corp. | 3,626,700 | 3.2 | ||||||||||||||||
11,987 | Apache Corp. | 1,194,265 | 1.1 | ||||||||||||||||
95,309 | Arch Coal, Inc. | 1,736,530 | 1.5 | ||||||||||||||||
68,600 | @ | Basic Energy Services, Inc. | 1,258,124 | 1.1 | |||||||||||||||
65,700 | @ | Cameron International Corp. | 3,228,498 | 2.9 | |||||||||||||||
73,067 | Chevron Corp. | 7,675,688 | 6.8 | ||||||||||||||||
33,980 | Cimarex Energy Co. | 2,174,720 | 1.9 | ||||||||||||||||
22,400 | Cliffs Natural Resources, Inc. | 1,528,128 | 1.3 | ||||||||||||||||
52,900 | Devon Energy Corp. | 3,435,855 | 3.0 | ||||||||||||||||
17,300 | Domtar Corp. | 1,417,043 | 1.3 | ||||||||||||||||
44,800 | @ | Energy XXI Bermuda Ltd. | 1,315,776 | 1.2 | |||||||||||||||
41,300 | EOG Resources, Inc. | 3,693,459 | 3.3 | ||||||||||||||||
37,000 | EQT Corp. | 2,349,500 | 2.1 | ||||||||||||||||
127,264 | ExxonMobil Corp. | 9,938,046 | 8.8 | ||||||||||||||||
37,700 | Freeport-McMoRan Copper & Gold, Inc. | 1,517,802 | 1.3 | ||||||||||||||||
59,300 | @ | FX Energy, Inc. | 351,056 | 0.3 | |||||||||||||||
COMMON STOCK: (continued) | |||||||||||||||||||
United States: (continued) | |||||||||||||||||||
133,728 | Halliburton Co. | $ | 4,996,078 | 4.4 | |||||||||||||||
57,600 | Hess Corp. | 3,603,456 | 3.2 | ||||||||||||||||
102,900 | @ | Key Energy Services, Inc. | 1,330,497 | 1.2 | |||||||||||||||
99,800 | Marathon Oil Corp. | 2,597,794 | 2.3 | ||||||||||||||||
8,600 | Martin Marietta Materials, Inc. | 620,662 | 0.5 | ||||||||||||||||
61,500 | Murphy Oil Corp. | 3,405,255 | 3.0 | ||||||||||||||||
63,178 | National Oilwell Varco, Inc. | 4,506,487 | 4.0 | ||||||||||||||||
41,000 | Newmont Mining Corp. | 2,740,030 | 2.4 | ||||||||||||||||
29,500 | Patterson-UTI Energy, Inc. | 599,440 | 0.5 | ||||||||||||||||
44,200 | Range Resources Corp. | 3,042,728 | 2.7 | ||||||||||||||||
66,100 | @ | Rowan Cos., Inc. | 2,279,789 | 2.0 | |||||||||||||||
56,260 | Schlumberger Ltd. | 4,133,422 | 3.7 | ||||||||||||||||
54,500 | @ | Southwestern Energy Co. | 2,291,180 | 2.0 | |||||||||||||||
36,100 | @ | Unit Corp. | 1,771,066 | 1.6 | |||||||||||||||
84,359,074 | 74.6 | ||||||||||||||||||
Total Common Stock | |||||||||||||||||||
(Cost $95,977,008) | 110,891,483 | 98.1 | |||||||||||||||||
SHORT-TERM INVESTMENTS: 2.2% | |||||||||||||||||||
Mutual Funds: 2.2% | |||||||||||||||||||
2,526,000 | BlackRock Liquidity Funds, TempFund, Institutional Class | ||||||||||||||||||
(Cost $2,526,000) | 2,526,000 | 2.2 | |||||||||||||||||
Total Short-Term Investments | |||||||||||||||||||
(Cost $2,526,000) | 2,526,000 | 2.2 | |||||||||||||||||
Total Investments in Securities (Cost $98,503,008) | $ | 113,417,483 | 100.3 | ||||||||||||||||
Liabilities in Excess of Other Assets | (353,090 | ) | (0.3 | ) | |||||||||||||||
Net Assets | $ | 113,064,393 | 100.0 |
@ | Non-income producing security |
ADR | American Depository Receipt |
Cost for federal income tax purposes is $100,621,706. |
Net unrealized appreciation consists of: | ||||||
Gross Unrealized Appreciation | $ | 17,285,852 | ||||
Gross Unrealized Depreciation | (4,490,075 | ) | ||||
Net Unrealized appreciation | $ | 12,795,777 |
Sector Diversification | Percentage of Net Assets | |||||
---|---|---|---|---|---|---|
Energy | 81.4 | % | ||||
Materials | 16.7 | |||||
Short-Term Investments | 2.2 | |||||
Liabilities in Excess of Other Assets | (0.3 | ) | ||||
Net Assets | 100.0 | % |
AS OF OCTOBER 31, 2011 (CONTINUED)
Quoted Prices in Active Markets for Identical Investments (Level 1) | Significant Other Observable Inputs# (Level 2) | Significant Unobservable Inputs (Level 3) | Fair Value at 10/31/2011 | |||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Asset Table | ||||||||||||||||||
Investments, at value | ||||||||||||||||||
Common Stock | ||||||||||||||||||
Argentina | $ | 994,856 | $ | — | $ | — | $ | 994,856 | ||||||||||
Canada | 11,201,126 | — | — | 11,201,126 | ||||||||||||||
France | — | 1,748,076 | — | 1,748,076 | ||||||||||||||
Netherlands | 4,706,509 | — | — | 4,706,509 | ||||||||||||||
Norway | 2,659,978 | — | — | 2,659,978 | ||||||||||||||
United Kingdom | 2,252,826 | 2,969,038 | — | 5,221,864 | ||||||||||||||
United States | 84,359,074 | — | — | 84,359,074 | ||||||||||||||
Total Common Stock | 106,174,369 | 4,717,114 | — | 110,891,483 | ||||||||||||||
Short-Term Investments | 2,526,000 | — | — | 2,526,000 | ||||||||||||||
Total Investments, at value | $ | 108,700,369 | $ | 4,717,114 | $ | — | $ | 113,417,483 |
ˆ | See Note 2, “Significant Accounting Policies” in the Notes to Financial Statements for additional information. |
# | The earlier close of the foreign markets gives rise to the possibility that significant events, including broad market moves, may have occurred in the interim and may materially affect the value of those securities. To account for this, the Portfolio may frequently value many of its foreign equity securities using fair value prices based on third party vendor modeling tools to the extent available. Accordingly, a significant portion of the Portfolio’s investments are categorized as Level 2 investments. |
AS OF OCTOBER 31, 2011
Shares | | | | Value | | Percentage of Net Assets | |||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
COMMON STOCK: 100.2% | |||||||||||||||||||
Brazil: 2.2% | |||||||||||||||||||
171,570 | Other Securities | $ | 1,422,560 | 2.2 | |||||||||||||||
Canada: 1.2% | |||||||||||||||||||
24,700 | Suncor Energy, Inc. | 786,782 | 1.2 | ||||||||||||||||
China: 6.9% | |||||||||||||||||||
213,000 | China Resources Enterprise | 777,886 | 1.2 | ||||||||||||||||
327,000 | L | China Yurun Food Group Ltd. | 567,574 | 0.8 | |||||||||||||||
4,152,975 | Other Securities | 3,206,424 | 4.9 | ||||||||||||||||
4,551,884 | 6.9 | ||||||||||||||||||
Denmark: 1.1% | |||||||||||||||||||
6,500 | Novo-Nordisk A/S | 690,082 | 1.1 | ||||||||||||||||
France: 2.9% | |||||||||||||||||||
5,500 | LVMH Moet Hennessy Louis Vuitton S.A. | 911,593 | 1.4 | ||||||||||||||||
12,795 | Vinci S.A. | 627,446 | 0.9 | ||||||||||||||||
12,811 | Other Securities | 371,785 | 0.6 | ||||||||||||||||
1,910,824 | 2.9 | ||||||||||||||||||
Germany: 1.5% | |||||||||||||||||||
9,000 | Bayer AG | 573,408 | 0.9 | ||||||||||||||||
27,821 | Other Securities | 393,916 | 0.6 | ||||||||||||||||
967,324 | 1.5 | ||||||||||||||||||
Hong Kong: 1.1% | |||||||||||||||||||
1,572,000 | Hengdeli Holdings Ltd. | 704,755 | 1.1 | ||||||||||||||||
48,000 | Other Securities | 5,097 | 0.0 | ||||||||||||||||
709,852 | 1.1 | ||||||||||||||||||
India: 0.8% | |||||||||||||||||||
130,000 | Other Securities | 494,688 | 0.8 | ||||||||||||||||
Indonesia: 3.6% | |||||||||||||||||||
126,753 | Astra International Tbk PT | 977,365 | 1.5 | ||||||||||||||||
1,219,828 | Bank Mandiri Persero TBK PT | 973,040 | 1.5 | ||||||||||||||||
1,499,895 | Other Securities | 391,768 | 0.6 | ||||||||||||||||
2,342,173 | 3.6 | ||||||||||||||||||
Ireland: 0.9% | |||||||||||||||||||
19,000 | Ingersoll-Rand PLC | 591,470 | 0.9 | ||||||||||||||||
Italy: 0.9% | |||||||||||||||||||
71,000 | @ | Fiat Industrial SpA | 618,160 | 0.9 | |||||||||||||||
Japan: 6.6% | |||||||||||||||||||
103,000 | Hitachi Ltd. | 551,903 | 0.8 | ||||||||||||||||
41,600 | Mitsui & Co., Ltd. | 607,132 | 0.9 | ||||||||||||||||
139,747 | Other Securities | 3,192,105 | 4.9 | ||||||||||||||||
4,351,140 | 6.6 | ||||||||||||||||||
Macau: 1.1% | |||||||||||||||||||
250,000 | @ | Sands China Ltd. | 751,297 | 1.1 | |||||||||||||||
Malaysia: 0.3% | |||||||||||||||||||
170,000 | Other Securities | 213,642 | 0.3 | ||||||||||||||||
COMMON STOCK: (continued) | |||||||||||||||||||
Mexico: 0.5% | |||||||||||||||||||
239,649 | Other Securities | $ | 320,803 | 0.5 | |||||||||||||||
Netherlands: 5.8% | |||||||||||||||||||
46,457 | Koninklijke KPN NV | 608,258 | 0.9 | ||||||||||||||||
27,401 | Royal Dutch Shell PLC | 971,629 | 1.5 | ||||||||||||||||
30,832 | Unilever NV | 1,064,434 | 1.6 | ||||||||||||||||
189,983 | Other Securities | 1,176,739 | 1.8 | ||||||||||||||||
3,821,060 | 5.8 | ||||||||||||||||||
Norway: 0.9% | |||||||||||||||||||
31,810 | Telenor ASA | 566,623 | 0.9 | ||||||||||||||||
Peru: 0.6% | |||||||||||||||||||
3,869 | Other Securities | 420,870 | 0.6 | ||||||||||||||||
Poland: 0.5% | |||||||||||||||||||
30,000 | Other Securities | 341,207 | 0.5 | ||||||||||||||||
Portugal: 0.7% | |||||||||||||||||||
68,045 | Other Securities | 486,602 | 0.7 | ||||||||||||||||
Russia: 1.6% | |||||||||||||||||||
60,000 | Gazprom OAO ADR | 700,200 | 1.1 | ||||||||||||||||
12,000 | Other Securities | 359,634 | 0.5 | ||||||||||||||||
1,059,834 | 1.6 | ||||||||||||||||||
Singapore: 1.2% | |||||||||||||||||||
113,000 | Oversea-Chinese Banking Corp. | 756,531 | 1.2 | ||||||||||||||||
South Korea: 2.2% | |||||||||||||||||||
1,057 | Samsung Electronics Co., Ltd. | 909,930 | 1.4 | ||||||||||||||||
13,209 | Other Securities | 526,209 | 0.8 | ||||||||||||||||
1,436,139 | 2.2 | ||||||||||||||||||
Spain: 0.7% | |||||||||||||||||||
21,500 | Other Securities | 456,910 | 0.7 | ||||||||||||||||
Switzerland: 8.8% | |||||||||||||||||||
41,003 | ABB Ltd. | 771,899 | 1.2 | ||||||||||||||||
16,500 | Compagnie Financiere Richemont S.A. | 939,916 | 1.4 | ||||||||||||||||
30,925 | Credit Suisse Group | 891,909 | 1.4 | ||||||||||||||||
23,304 | Nestle S.A. | 1,347,850 | 2.1 | ||||||||||||||||
19,000 | Novartis AG | 1,070,370 | 1.6 | ||||||||||||||||
28,513 | Other Securities | 726,041 | 1.1 | ||||||||||||||||
5,747,985 | 8.8 | ||||||||||||||||||
Taiwan: 0.8% | |||||||||||||||||||
22,050 | Other Securities | 495,542 | 0.8 | ||||||||||||||||
United Kingdom: 9.8% | |||||||||||||||||||
47,905 | BG Group PLC | 1,038,771 | 1.6 | ||||||||||||||||
17,456 | BHP Billiton PLC | 549,680 | 0.8 | ||||||||||||||||
157,453 | BP PLC | 1,158,669 | 1.8 |
AS OF OCTOBER 31, 2011 (CONTINUED)
Shares | | | | Value | | Percentage of Net Assets | |||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
COMMON STOCK: (continued) | |||||||||||||||||||
United Kingdom: (continued) | |||||||||||||||||||
131,885 | HSBC Holdings PLC | $ | 1,150,736 | 1.7 | |||||||||||||||
26,500 | Imperial Tobacco Group PLC | 965,312 | 1.5 | ||||||||||||||||
81,399 | Other Securities | 1,583,823 | 2.4 | ||||||||||||||||
6,446,991 | 9.8 | ||||||||||||||||||
United States: 35.0% | |||||||||||||||||||
29,799 | @ | Adobe Systems, Inc. | 876,389 | 1.3 | |||||||||||||||
3,510 | @ | Apple, Inc. | 1,420,778 | 2.2 | |||||||||||||||
8,807 | @ | Celgene Corp. | 570,958 | 0.9 | |||||||||||||||
31,851 | Citigroup, Inc. | 1,006,173 | 1.5 | ||||||||||||||||
2,518 | @ | Google, Inc. — Class A | 1,492,267 | 2.3 | |||||||||||||||
25,960 | @ | Juniper Networks, Inc. | 635,241 | 1.0 | |||||||||||||||
9,089 | Mead Johnson Nutrition Co. | 653,045 | 1.0 | ||||||||||||||||
42,857 | Microsoft Corp. | 1,141,282 | 1.7 | ||||||||||||||||
49,098 | @ | NetApp, Inc. | 2,011,054 | 3.1 | |||||||||||||||
7,138 | Occidental Petroleum Corp. | 663,406 | 1.0 | ||||||||||||||||
12,000 | PepsiCo, Inc. | 755,400 | 1.2 | ||||||||||||||||
14,466 | @ | Southwestern Energy Co. | 608,151 | 0.9 | |||||||||||||||
35,415 | @ | Symantec Corp. | 602,409 | 0.9 | |||||||||||||||
9,341 | @ | Teradata Corp. | 557,284 | 0.8 | |||||||||||||||
15,185 | @ | Thermo Fisher Scientific, Inc. | 763,350 | 1.2 | |||||||||||||||
50,000 | @ | Weatherford International Ltd. | 775,000 | 1.2 | |||||||||||||||
10,025 | Yum! Brands, Inc. | 537,039 | 0.8 | ||||||||||||||||
237,340 | Other Securities | 7,886,921 | 12.0 | ||||||||||||||||
22,956,147 | 35.0 | ||||||||||||||||||
Total Common Stock | |||||||||||||||||||
(Cost $61,850,364) | 65,715,122 | 100.2 | |||||||||||||||||
EXCHANGE-TRADED FUNDS: 2.1% | |||||||||||||||||||
20,784 | @ | SPDR S&P Biotech ETF | 1,374,030 | 2.1 | |||||||||||||||
Total Exchange-Traded Funds | |||||||||||||||||||
(Cost $1,034,730) | 1,374,030 | 2.1 | |||||||||||||||||
Total Long-Term Investments | |||||||||||||||||||
(Cost $62,885,094) | 67,089,152 | 102.3 |
Principal Amount† | | | | Value | | Percentage of Net Assets | |||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
SHORT-TERM INVESTMENTS: 2.7% | |||||||||||||||||||
Securities Lending Collateralcc(1): 2.7% | |||||||||||||||||||
1,000,000 | Cantor Fitzgerald, Repurchase Agreement dated 10/31/11, 0.15%, due 11/01/11 (Principal Amount $1,000,000, collateralized by various U.S. Government Agency Obligations, 0.742%–6.579%, Market Value plus accrued interest $1,020,000, due 11/01/15–03/01/48) | $ | 1,000,000 | 1.5 | |||||||||||||||
758,983 | Merrill Lynch & Co., Inc., Repurchase Agreement dated 10/31/11, 0.12%, due 11/01/11 (Principal Amount $758,983, collateralized by various U.S. Government Agency Obligations, 3.000%–6.000%, Market Value plus accrued interest $774,215, due 09/01/21–11/01/41) | 758,983 | 1.2 | ||||||||||||||||
1,758,983 | 2.7 | ||||||||||||||||||
Total Short-Term Investments | |||||||||||||||||||
(Cost $1,758,983) | 1,758,983 | 2.7 | |||||||||||||||||
Total Investments in Securities (Cost $64,644,077) | $ | 68,848,135 | 105.0 | ||||||||||||||||
Liabilities in Excess of Other Assets | (3,284,143 | ) | (5.0 | ) | |||||||||||||||
Net Assets | $ | 65,563,992 | 100.0 |
† | Unless otherwise indicated, principal amount is shown in USD. |
@ | Non-income producing security |
ADR | American Depository Receipt |
cc | Securities purchased with cash collateral for securities loaned. |
L | Loaned security, a portion or all of the security is on loan at October 31, 2011. |
(1) | Collateral received from brokers for securities lending was invested into these short-term investments. |
Cost for federal income tax purposes is $65,063,037. |
Net unrealized appreciation consists of: | ||||||
Gross Unrealized Appreciation | $ | 9,381,286 | ||||
Gross Unrealized Depreciation | (5,596,188 | ) | ||||
Net Unrealized appreciation | $ | 3,785,098 |
AS OF OCTOBER 31, 2011 (CONTINUED)
Sector Diversification | Percentage of Net Assets | |||||
---|---|---|---|---|---|---|
Consumer Discretionary | 9.7 | % | ||||
Consumer Staples | 12.3 | |||||
Energy | 12.8 | |||||
Financials | 17.0 | |||||
Health Care | 7.5 | |||||
Industrials | 9.3 | |||||
Information Technology | 21.8 | |||||
Materials | 5.1 | |||||
Telecommunications | 3.7 | |||||
Utilities | 1.0 | |||||
Other Long-Term Investments | 2.1 | |||||
Short-Term Investments | 2.7 | |||||
Liabilities in Excess of Other Assets | (5.0 | ) | ||||
Net Assets | 100.0 | % |
Quoted Prices in Active Markets for Identical Investments (Level 1) | Significant Other Observable Inputs# (Level 2) | Significant Unobservable Inputs (Level 3) | Fair Value at 10/31/2011 | |||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Asset Table | ||||||||||||||||||
Investments, at value | ||||||||||||||||||
Common Stock | ||||||||||||||||||
Brazil | $ | 1,422,560 | $ | — | $ | — | $ | 1,422,560 | ||||||||||
Canada | 786,782 | — | — | 786,782 | ||||||||||||||
China | — | 4,551,884 | — | 4,551,884 | ||||||||||||||
Denmark | — | 690,082 | — | 690,082 | ||||||||||||||
France | — | 1,910,824 | — | 1,910,824 | ||||||||||||||
Germany | — | 967,324 | — | 967,324 | ||||||||||||||
Hong Kong | — | 704,755 | 5,097 | 709,852 | ||||||||||||||
India | — | 494,688 | — | 494,688 | ||||||||||||||
Indonesia | — | 2,342,173 | — | 2,342,173 | ||||||||||||||
Ireland | 591,470 | — | — | 591,470 | ||||||||||||||
Italy | — | 618,160 | — | 618,160 | ||||||||||||||
Japan | — | 4,351,140 | — | 4,351,140 | ||||||||||||||
Macau | — | 751,297 | — | 751,297 | ||||||||||||||
Malaysia | — | 213,642 | — | 213,642 | ||||||||||||||
Mexico | 320,803 | — | — | 320,803 | ||||||||||||||
Netherlands | — | 3,821,060 | — | 3,821,060 | ||||||||||||||
Norway | — | 566,623 | — | 566,623 | ||||||||||||||
Peru | 420,870 | — | — | 420,870 | ||||||||||||||
Poland | — | 341,207 | — | 341,207 | ||||||||||||||
Portugal | — | 486,602 | — | 486,602 | ||||||||||||||
Russia | 700,200 | 359,634 | — | 1,059,834 | ||||||||||||||
Singapore | — | 756,531 | — | 756,531 | ||||||||||||||
South Korea | — | 1,436,139 | — | 1,436,139 | ||||||||||||||
Spain | — | 456,910 | — | 456,910 | ||||||||||||||
Switzerland | — | 5,747,985 | — | 5,747,985 | ||||||||||||||
Taiwan | — | 495,542 | — | 495,542 | ||||||||||||||
United Kingdom | — | 6,446,991 | — | 6,446,991 | ||||||||||||||
United States | 22,956,147 | — | — | 22,956,147 | ||||||||||||||
Total Common Stock | 27,198,832 | 38,511,193 | 5,097 | 65,715,122 | ||||||||||||||
Exchange-Traded Funds | 1,374,030 | — | — | 1,374,030 | ||||||||||||||
Short-Term Investments | — | 1,758,983 | — | 1,758,983 | ||||||||||||||
Total Investments, at value | $ | 28,572,862 | $ | 40,270,176 | $ | 5,097 | $ | 68,848,135 |
ˆ | See Note 2, “Significant Accounting Policies” in the Notes to Financial Statements for additional information. |
AS OF OCTOBER 31, 2011 (CONTINUED)
# | The earlier close of the foreign markets gives rise to the possibility that significant events, including broad market moves, may have occurred in the interim and may materially affect the value of those securities. To account for this, the Portfolio may frequently value many of its foreign equity securities using fair value prices based on third party vendor modeling tools to the extent available. Accordingly, a significant portion of the Portfolio’s investments are categorized as Level 2 investments. |
Beginning Balance 10/31/2010 | Purchases | Sales | Accrued Discounts/ (Premiums) | Total Realized Gain/(Loss) | Total Unrealized Appreciation/ (Depreciation) | Transfers Into Level 3 | Transfers Out of Level 3 | Ending Balance 10/31/2011 | ||||||||||||||||||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Asset Table | ||||||||||||||||||||||||||||||||||||||
Investments, at value | ||||||||||||||||||||||||||||||||||||||
Common Stock | $ | — | $ | — | $ | (654,531 | ) | $ | — | $ | (732,682 | ) | $ | 221,841 | $ | 1,170,469 | $ | — | $ | 5,097 | ||||||||||||||||||
Short-Term Investments | $ | 138,966 | $ | — | $ | (138,966 | ) | $ | — | $ | (34,471 | ) | $ | 34,471 | $ | — | $ | — | $ | — | ||||||||||||||||||
Total Investments, at value | $ | 138,966 | $ | — | $ | (793,497 | ) | $ | — | $ | (767,153 | ) | $ | 256,312 | $ | 1,170,469 | $ | — | $ | 5,097 |
AS OF OCTOBER 31, 2011
Shares | | | | Value | | Percentage of Net Assets | |||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
COMMON STOCK: 98.9% | |||||||||||||||||||
Australia: 9.9% | |||||||||||||||||||
44,288,716 | Dexus Property Group | $ | 39,397,381 | 1.2 | |||||||||||||||
53,480,027 | Goodman Group | 34,753,394 | 1.0 | ||||||||||||||||
16,339,520 | GPT Group | 53,925,100 | 1.6 | ||||||||||||||||
37,051,100 | Investa Office Fund | 24,221,992 | 0.7 | ||||||||||||||||
7,659,060 | Stockland | 25,291,728 | 0.7 | ||||||||||||||||
10,377,134 | Westfield Group | 83,539,636 | 2.4 | ||||||||||||||||
19,766,781 | Westfield Retail Trust | 52,678,223 | 1.5 | ||||||||||||||||
15,967,209 | Other Securities | 25,795,096 | 0.8 | ||||||||||||||||
339,602,550 | 9.9 | ||||||||||||||||||
Brazil: 0.5% | |||||||||||||||||||
1,420,800 | Other Securities | 16,621,431 | 0.5 | ||||||||||||||||
Canada: 3.5% | |||||||||||||||||||
2,146,700 | Brookfield Properties Co. | 35,463,484 | 1.0 | ||||||||||||||||
1,589,900 | RioCan Real Estate Investment Trust | 40,339,675 | 1.2 | ||||||||||||||||
1,678,100 | Other Securities | 44,079,803 | 1.3 | ||||||||||||||||
119,882,962 | 3.5 | ||||||||||||||||||
China: 0.6% | |||||||||||||||||||
19,426,900 | Other Securities | 19,944,703 | 0.6 | ||||||||||||||||
France: 4.5% | |||||||||||||||||||
486,756 | Unibail | 96,771,661 | 2.8 | ||||||||||||||||
1,172,012 | Other Securities | 58,640,323 | 1.7 | ||||||||||||||||
155,411,984 | 4.5 | ||||||||||||||||||
Germany: 0.6% | |||||||||||||||||||
674,160 | Other Securities | 21,902,786 | 0.6 | ||||||||||||||||
Hong Kong: 10.7% | |||||||||||||||||||
6,927,763 | Cheung Kong Holdings Ltd. | 85,876,072 | 2.5 | ||||||||||||||||
10,966,245 | Hang Lung Properties Ltd. | 39,937,046 | 1.2 | ||||||||||||||||
4,860,594 | Hongkong Land Holdings Ltd. | 25,542,601 | 0.7 | ||||||||||||||||
15,562,900 | Link Real Estate Investment Trust | 53,446,756 | 1.6 | ||||||||||||||||
6,850,000 | Sun Hung Kai Properties Ltd. | 94,316,133 | 2.7 | ||||||||||||||||
20,521,046 | Other Securities | 69,663,220 | 2.0 | ||||||||||||||||
368,781,828 | 10.7 | ||||||||||||||||||
Japan: 12.8% | |||||||||||||||||||
536,300 | Daito Trust Construction Co., Ltd. | 47,516,482 | 1.4 | ||||||||||||||||
3,875 | Japan Real Estate Investment Corp. | 33,052,604 | 1.0 | ||||||||||||||||
7,009,230 | Mitsubishi Estate Co., Ltd. | 118,715,610 | 3.4 | ||||||||||||||||
5,645,888 | Mitsui Fudosan Co., Ltd. | 93,892,735 | 2.7 | ||||||||||||||||
3,511 | Nippon Building Fund, Inc. | 33,904,705 | 1.0 | ||||||||||||||||
1,926,752 | Other Securities | 114,290,387 | 3.3 | ||||||||||||||||
441,372,523 | 12.8 | ||||||||||||||||||
Netherlands: 0.6% | |||||||||||||||||||
388,620 | Other Securities | 19,749,030 | 0.6 | ||||||||||||||||
COMMON STOCK: (continued) | |||||||||||||||||||
Singapore: 4.5% | |||||||||||||||||||
28,134,000 | L | CapitaCommercial Trust | $ | 25,132,711 | 0.7 | ||||||||||||||
18,859,350 | CapitaLand Ltd. | 40,631,454 | 1.2 | ||||||||||||||||
25,489,600 | @ | Global Logistic Properties Ltd. | 35,489,961 | 1.1 | |||||||||||||||
33,506,291 | Other Securities | 52,646,844 | 1.5 | ||||||||||||||||
153,900,970 | 4.5 | ||||||||||||||||||
Sweden: 0.4% | |||||||||||||||||||
1,303,204 | Other Securities | 16,060,244 | 0.4 | ||||||||||||||||
Switzerland: 0.7% | |||||||||||||||||||
312,080 | Other Securities | 26,219,669 | 0.7 | ||||||||||||||||
United Kingdom: 5.0% | |||||||||||||||||||
4,812,997 | British Land Co. PLC | 39,375,683 | 1.1 | ||||||||||||||||
1,042,770 | Derwent Valley Holdings PLC | 28,383,508 | 0.8 | ||||||||||||||||
6,098,161 | Hammerson PLC | 39,839,887 | 1.2 | ||||||||||||||||
2,362,391 | Land Securities Group PLC | 25,854,942 | 0.8 | ||||||||||||||||
10,822,241 | Other Securities | 37,606,899 | 1.1 | ||||||||||||||||
171,060,919 | 5.0 | ||||||||||||||||||
United States: 44.6% | |||||||||||||||||||
1,432,800 | Apartment Investment & Management Co. | 35,347,176 | 1.0 | ||||||||||||||||
659,408 | AvalonBay Communities, Inc. | 88,156,255 | 2.6 | ||||||||||||||||
1,020,800 | Boston Properties, Inc. | 101,048,992 | 2.9 | ||||||||||||||||
782,600 | BRE Properties, Inc. | 39,223,912 | 1.1 | ||||||||||||||||
2,350,000 | DDR Corp. | 30,103,500 | 0.9 | ||||||||||||||||
1,815,300 | Equity Residential | 106,521,804 | 3.1 | ||||||||||||||||
264,700 | Essex Property Trust, Inc. | 37,788,572 | 1.1 | ||||||||||||||||
452,100 | Federal Realty Investment Trust | 40,128,396 | 1.2 | ||||||||||||||||
3,714,911 | General Growth Properties, Inc. | 54,609,192 | 1.6 | ||||||||||||||||
1,417,929 | HCP, Inc. | 56,504,471 | 1.6 | ||||||||||||||||
935,300 | Health Care Real Estate Investment Trust, Inc. | 49,280,957 | 1.4 | ||||||||||||||||
3,665,935 | Host Hotels & Resorts, Inc. | 52,312,892 | 1.5 | ||||||||||||||||
1,370,400 | Kimco Realty Corp. | 23,940,888 | 0.7 | ||||||||||||||||
1,389,275 | Liberty Property Trust | 44,456,800 | 1.3 | ||||||||||||||||
1,348,641 | Macerich Co. | 67,108,376 | 2.0 | ||||||||||||||||
2,886,902 | ProLogis, Inc. | 85,914,204 | 2.5 | ||||||||||||||||
601,824 | Public Storage, Inc. | 77,665,387 | 2.3 | ||||||||||||||||
1,457,350 | Simon Property Group, Inc. | 187,182,034 | 5.4 | ||||||||||||||||
695,130 | SL Green Realty Corp. | 47,957,019 | 1.4 | ||||||||||||||||
579,700 | Taubman Centers, Inc. | 35,495,031 | 1.0 | ||||||||||||||||
2,247,555 | UDR, Inc. | 56,031,546 | 1.6 | ||||||||||||||||
1,286,004 | Ventas, Inc. | 71,514,682 | 2.1 | ||||||||||||||||
1,033,702 | Vornado Realty Trust | 85,600,863 | 2.5 | ||||||||||||||||
1,953,100 | Other Securities | 59,956,762 | 1.8 | ||||||||||||||||
1,533,849,711 | 44.6 | ||||||||||||||||||
Total Common Stock | |||||||||||||||||||
(Cost $2,847,224,237) | 3,404,361,310 | 98.9 |
AS OF OCTOBER 31, 2011 (CONTINUED)
Principal Amount† | | | | Value | | Percentage of Net Assets | |||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
SHORT-TERM INVESTMENTS: 1.2% | |||||||||||||||||||
Securities Lending Collateralcc(1): 0.4% | |||||||||||||||||||
3,162,516 | Barclays Bank PLC, Repurchase Agreement dated 10/31/11, 0.10%, due 11/01/11 (Principal Amount $3,162,516, collateralized by various U.S. Government Agency Obligations, 0.000%–0.375%, Market Value plus accrued interest $3,225,770, due 11/21/11–10/30/13) | $ | 3,162,516 | 0.1 | |||||||||||||||
3,162,516 | BNP Paribas Bank, Repurchase Agreement dated 10/31/11, 0.08%, due 11/01/11 (Principal Amount $3,162,516 collateralized by various U.S. Government Securities,0.000%–7.250%, Market Value plus accrued interest $3,225,767, due 11/30/11–11/15/40) | 3,162,516 | 0.1 | ||||||||||||||||
3,162,516 | Goldman Sachs & Co., Repurchase Agreement dated 10/31/11, 0.11%, due 11/01/11 (Principal Amount $3,162,516, collateralized by various U.S. Government Agency Obligations, 2.261%–7.000%, Market Value plus accrued interest $3,225,766, due 01/01/18–10/01/41) | 3,162,516 | 0.1 | ||||||||||||||||
665,793 | JPMorgan Chase & Co., Repurchase Agreement dated 10/31/11, 0.07%, due 11/01/11 (Principal Amount $665,793 collateralized by various U.S. Government Securities,1.250%–2.500%, Market Value plus accrued interest $679,115, due 07/15/13–07/15/20) | 665,793 | 0.0 | ||||||||||||||||
3,162,516 | Morgan Stanley, Repurchase Agreement dated 10/31/11, 0.15%, due 11/01/11 (Principal Amount $3,162,516, collateralized by various U.S. Government Agency Obligations, 4.000%–4.500%, Market Value plus accrued interest $3,225,767, due 03//01/41–10/01/41) | 3,162,516 | 0.1 | ||||||||||||||||
13,315,857 | 0.4 |
Shares | | | | Value | | Percentage of Net Assets | |||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
SHORT-TERM INVESTMENTS: (continued) | |||||||||||||||||||
Mutual Funds: 0.8% | |||||||||||||||||||
28,270,875 | BlackRock Liquidity Funds, TempFund, Institutional Class (Cost $28,270,875) | $ | 28,270,875 | 0.8 | |||||||||||||||
Total Short-Term Investments | |||||||||||||||||||
(Cost $41,586,732) | 41,586,732 | 1.2 | |||||||||||||||||
Total Investments in Securities (Cost $2,888,810,969) | $ | 3,445,948,042 | 100.1 | ||||||||||||||||
Liabilities in Excess of Other Assets | (5,072,636 | ) | (0.1 | ) | |||||||||||||||
Net Assets | $ | 3,440,875,406 | 100.0 |
† | Unless otherwise indicated, principal amount is shown in USD. |
@ | Non-income producing security |
cc | Securities purchased with cash collateral for securities loaned. |
L | Loaned security, a portion or all of the security is on loan at October 31, 2011. |
(1) | Collateral received from brokers for securities lending was invested into these short-term investments. |
Cost for federal income tax purposes is $3,120,549,879. |
Net unrealized appreciation consists of: | ||||||
Gross Unrealized Appreciation | $ | 520,550,461 | ||||
Gross Unrealized Depreciation | (195,152,298 | ) | ||||
Net Unrealized appreciation | $ | 325,398,163 |
Sector Diversification | Percentage of Net Assets | |||||
---|---|---|---|---|---|---|
Consumer Discretionary | 0.6 | % | ||||
Financials | 98.3 | |||||
Short-Term Investments | 1.2 | |||||
Liabilities in Excess of Other Assets | (0.1 | ) | ||||
Net Assets | 100.0 | % |
AS OF OCTOBER 31, 2011 (CONTINUED)
Quoted Prices in Active Markets for Identical Investments (Level 1) | Significant Other Observable Inputs# (Level 2) | Significant Unobservable Inputs (Level 3) | Fair Value at 10/31/2011 | |||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Asset Table | ||||||||||||||||||
Investments, at value | ||||||||||||||||||
Common Stock | ||||||||||||||||||
Australia | $ | — | $ | 339,602,550 | $ | — | $ | 339,602,550 | ||||||||||
Brazil | 16,621,431 | — | — | 16,621,431 | ||||||||||||||
Canada | 119,882,962 | — | — | 119,882,962 | ||||||||||||||
China | — | 19,944,703 | — | 19,944,703 | ||||||||||||||
France | — | 155,411,984 | — | 155,411,984 | ||||||||||||||
Germany | — | 21,902,786 | — | 21,902,786 | ||||||||||||||
Hong Kong | — | 368,781,828 | — | 368,781,828 | ||||||||||||||
Japan | — | 441,372,523 | — | 441,372,523 | ||||||||||||||
Netherlands | — | 19,749,030 | — | 19,749,030 | ||||||||||||||
Singapore | — | 153,900,970 | — | 153,900,970 | ||||||||||||||
Sweden | — | 16,060,244 | — | 16,060,244 | ||||||||||||||
Switzerland | — | 26,219,669 | — | 26,219,669 | ||||||||||||||
United Kingdom | — | 171,060,919 | — | 171,060,919 | ||||||||||||||
United States | 1,533,849,711 | — | — | 1,533,849,711 | ||||||||||||||
Total Common Stock | 1,670,354,104 | 1,734,007,206 | — | 3,404,361,310 | ||||||||||||||
Short-Term Investments | 28,270,875 | 13,315,857 | — | 41,586,732 | ||||||||||||||
Total Investments, at value | $ | 1,698,624,979 | $ | 1,747,323,063 | $ | — | $ | 3,445,948,042 |
ˆ | See Note 2, “Significant Accounting Policies” in the Notes to Financial Statements for additional information. |
# | The earlier close of the foreign markets gives rise to the possibility that significant events, including broad market moves, may have occurred in the interim and may materially affect the value of those securities. To account for this, the Portfolio may frequently value many of its foreign equity securities using fair value prices based on third party vendor modeling tools to the extent available. Accordingly, a significant portion of the Portfolio’s investments are categorized as Level 2 investments. |
Beginning Balance 10/31/2010 | Purchases | Sales | Accrued Discounts/ (Premiums) | Total Realized Gain/(Loss) | Total Unrealized Appreciation/ (Depreciation) | Transfers Into Level 3 | Transfers Out of Level 3 | Ending Balance 10/31/2011 | ||||||||||||||||||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Asset Table | ||||||||||||||||||||||||||||||||||||||
Investments, at value | ||||||||||||||||||||||||||||||||||||||
Short-Term Investments | $ | 2,196,253 | $ | — | $ | (2,196,253 | ) | $ | — | $ | (549,064 | ) | $ | 549,064 | $ | — | $ | — | $ | — | ||||||||||||||||||
Total Investments, at value | $ | 2,196,253 | $ | — | $ | (2,196,253 | ) | $ | — | $ | (549,064 | ) | $ | 549,064 | $ | — | $ | — | $ | — |
AS OF OCTOBER 31, 2011
Shares | | | | Value | | Percentage of Net Assets | |||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
COMMON STOCK: 96.6% | |||||||||||||||||||
Australia: 2.7% | |||||||||||||||||||
396,700 | Newcrest Mining Ltd. | $ | 14,020,060 | 2.2 | |||||||||||||||
1,006,500 | Other Securities | 3,196,303 | 0.5 | ||||||||||||||||
17,216,363 | 2.7 | ||||||||||||||||||
Brazil: 2.3% | |||||||||||||||||||
780,941 | Centrais Eletricas Brasileiras SA ADR | 10,894,127 | 1.7 | ||||||||||||||||
659,500 | Other Securities | 3,739,154 | 0.6 | ||||||||||||||||
14,633,281 | 2.3 | ||||||||||||||||||
Canada: 10.4% | |||||||||||||||||||
742,000 | @, L | Bankers Petroleum Ltd. | 3,945,423 | 0.6 | |||||||||||||||
447,000 | Barrick Gold Corp. | 22,126,500 | 3.5 | ||||||||||||||||
1,018,500 | Cameco Corp. | 21,826,455 | 3.4 | ||||||||||||||||
1,063,100 | @ | Uranium Participation Corp. | 5,930,109 | 0.9 | |||||||||||||||
5,032,604 | Other Securities | 12,666,177 | 2.0 | ||||||||||||||||
66,494,664 | 10.4 | ||||||||||||||||||
China: 0.1% | |||||||||||||||||||
12,100,000 | Other Securities | 554,471 | 0.1 | ||||||||||||||||
Egypt: 1.7% | |||||||||||||||||||
932,026 | Oriental Weavers | 4,842,567 | 0.8 | ||||||||||||||||
2,612,000 | Other Securities | 6,077,821 | 0.9 | ||||||||||||||||
10,920,388 | 1.7 | ||||||||||||||||||
Finland: 1.4% | |||||||||||||||||||
1,312,000 | L | Nokia OYJ ADR | 8,829,760 | 1.4 | |||||||||||||||
France: 6.1% | |||||||||||||||||||
749,100 | Electricite de France SA | 22,418,781 | 3.5 | ||||||||||||||||
387,000 | Thales S.A. | 13,648,387 | 2.1 | ||||||||||||||||
105,485 | Other Securities | 3,087,957 | 0.5 | ||||||||||||||||
39,155,125 | 6.1 | ||||||||||||||||||
Greece: 0.6% | |||||||||||||||||||
323,198 | OPAP S.A. | 3,732,743 | 0.6 | ||||||||||||||||
Hong Kong: 0.7% | |||||||||||||||||||
2,338,000 | Other Securities | 4,271,501 | 0.7 | ||||||||||||||||
Hungary: 0.4% | |||||||||||||||||||
33,935 | Other Securities | 2,761,127 | 0.4 | ||||||||||||||||
India: 0.2% | |||||||||||||||||||
276,205 | Other Securities | 1,094,917 | 0.2 | ||||||||||||||||
Indonesia: 1.8% | |||||||||||||||||||
305,200 | Telekomunikasi Indonesia Tbk PT ADR | 10,315,760 | 1.6 | ||||||||||||||||
4,799,500 | Other Securities | 1,246,878 | 0.2 | ||||||||||||||||
11,562,638 | 1.8 | ||||||||||||||||||
Italy: 2.4% | |||||||||||||||||||
1,192,000 | ERG S.p.A. | 14,665,731 | 2.3 | ||||||||||||||||
91,000 | Other Securities | 623,729 | 0.1 | ||||||||||||||||
15,289,460 | 2.4 | ||||||||||||||||||
COMMON STOCK: (continued) | |||||||||||||||||||
Japan: 19.6% | |||||||||||||||||||
2,876,550 | Chuo Mitsui Trust Holdings, Inc. | $ | 9,843,912 | 1.5 | |||||||||||||||
2,480,000 | Daiwa Securities Group, Inc. | 8,677,451 | 1.4 | ||||||||||||||||
267,700 | East Japan Railway Co. | 16,230,207 | 2.5 | ||||||||||||||||
308,000 | Futaba Corp. | 5,809,336 | 0.9 | ||||||||||||||||
1,457,000 | Japan Steel Works Ltd. | 9,984,843 | 1.6 | ||||||||||||||||
716,000 | Kamigumi Co., Ltd. | 6,252,049 | 1.0 | ||||||||||||||||
131,000 | Kurita Water Industries Ltd. | 3,607,367 | 0.6 | ||||||||||||||||
648,600 | Mitsui & Co., Ltd. | 9,466,009 | 1.5 | ||||||||||||||||
439,000 | Mitsui Sumitomo Insurance Group Holdings, Inc. | 8,598,411 | 1.3 | ||||||||||||||||
318,300 | Nippon Telegraph & Telephone Corp. | 16,327,465 | 2.5 | ||||||||||||||||
67,400 | Shin-Etsu Chemical Co., Ltd. | 3,461,313 | 0.5 | ||||||||||||||||
806,000 | Toppan Printing Co., Ltd. | 6,266,883 | 1.0 | ||||||||||||||||
3,345 | TV Asahi Corp. | 5,269,779 | 0.8 | ||||||||||||||||
91,800 | West Japan Railway Co. | 3,889,895 | 0.6 | ||||||||||||||||
1,546,100 | Other Securities | 12,133,902 | 1.9 | ||||||||||||||||
125,818,822 | 19.6 | ||||||||||||||||||
Lebanon: 0.7% | |||||||||||||||||||
310,206 | # | Solidere GDR | 4,635,989 | 0.7 | |||||||||||||||
Norway: 2.0% | |||||||||||||||||||
383,300 | L | Statoil ASA ADR | 9,747,319 | 1.5 | |||||||||||||||
6,575,000 | Other Securities | 2,930,429 | 0.5 | ||||||||||||||||
12,677,748 | 2.0 | ||||||||||||||||||
Russia: 4.8% | |||||||||||||||||||
1,270,000 | Gazprom OAO ADR | 14,820,900 | 2.3 | ||||||||||||||||
3,850,000 | L | Federal Hydrogenerating Co. JSC ADR | 14,450,263 | 2.2 | |||||||||||||||
116,819,700 | Other Securities | 1,670,423 | 0.3 | ||||||||||||||||
30,941,586 | 4.8 | ||||||||||||||||||
Slovenia: 0.5% | |||||||||||||||||||
43,750 | Other Securities | 3,263,955 | 0.5 | ||||||||||||||||
South Africa: 3.9% | |||||||||||||||||||
211,200 | AngloGold Ashanti Ltd ADR | 9,548,352 | 1.5 | ||||||||||||||||
603,800 | Gold Fields Ltd. | 10,466,498 | 1.6 | ||||||||||||||||
8,153,546 | Other Securities | 4,878,568 | 0.8 | ||||||||||||||||
24,893,418 | 3.9 | ||||||||||||||||||
South Korea: 3.5% | |||||||||||||||||||
659,500 | Korea Electric Power Corp. ADR | 7,274,285 | 1.1 | ||||||||||||||||
363,800 | KT Corp. ADR | 6,068,184 | 1.0 | ||||||||||||||||
595,400 | SK Telecom Co., Ltd. ADR | 8,805,966 | 1.4 | ||||||||||||||||
22,148,435 | 3.5 |
AS OF OCTOBER 31, 2011 (CONTINUED)
Shares | | | | Value | | Percentage of Net Assets | |||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
COMMON STOCK: (continued) | |||||||||||||||||||
Switzerland: 0.9% | |||||||||||||||||||
163,750 | Actelion Ltd. — Reg | $ | 6,065,794 | 0.9 | |||||||||||||||
Thailand: 0.2% | |||||||||||||||||||
306,800 | Other Securities | 1,554,759 | 0.2 | ||||||||||||||||
Turkey: 2.1% | |||||||||||||||||||
1,105,000 | @ | Turkcell Iletisim Hizmet AS ADR | 13,613,600 | 2.1 | |||||||||||||||
United Kingdom: 2.6% | |||||||||||||||||||
2,733,830 | @ | Polyus Gold International Ltd. GDR | 8,975,164 | 1.4 | |||||||||||||||
392,400 | Stolt-Nielsen Ltd. | 7,760,103 | 1.2 | ||||||||||||||||
16,735,267 | 2.6 | ||||||||||||||||||
United States: 25.0% | |||||||||||||||||||
648,900 | @ | American International Group, Inc. | 16,021,341 | 2.5 | |||||||||||||||
490,000 | Best Buy Co., Inc. | 12,852,700 | 2.0 | ||||||||||||||||
575,000 | Eli Lilly & Co. | 21,367,000 | 3.4 | ||||||||||||||||
84,000 | Lockheed Martin Corp. | 6,375,600 | 1.0 | ||||||||||||||||
191,000 | Merck & Co., Inc. | 6,589,500 | 1.1 | ||||||||||||||||
463,500 | Microsoft Corp. | 12,343,005 | 1.9 | ||||||||||||||||
442,384 | Newmont Mining Corp. | 29,564,523 | 4.6 | ||||||||||||||||
880,200 | Old Republic International Corp. | 7,780,968 | 1.2 | ||||||||||||||||
315,350 | Wal-Mart Stores, Inc. | 17,886,652 | 2.8 | ||||||||||||||||
338,800 | @ | Western Digital Corp. | 9,025,632 | 1.4 | |||||||||||||||
951,215 | Other Securities | 20,026,055 | 3.1 | ||||||||||||||||
159,832,976 | 25.0 | ||||||||||||||||||
Total Common Stock | |||||||||||||||||||
(Cost $634,590,096) | 618,698,787 | 96.6 | |||||||||||||||||
PREFERRED STOCK: 0.4% | |||||||||||||||||||
South Korea: 0.4% | |||||||||||||||||||
105,840 | Other Securities | 2,440,184 | 0.4 | ||||||||||||||||
Total Preferred Stock | |||||||||||||||||||
(Cost $3,474,992) | 2,440,184 | 0.4 | |||||||||||||||||
Total Long-Term Investments | |||||||||||||||||||
(Cost $638,065,088) | 621,138,971 | 97.0 |
Principal Amount† | | | | Value | | Percentage of Net Assets | |||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
SHORT-TERM INVESTMENTS: 5.0% | |||||||||||||||||||
Securities Lending Collateralcc(1): 2.7% | |||||||||||||||||||
4,052,266 | Barclays Bank PLC, Repurchase Agreement dated 10/31/11, 0.10%, due 11/01/11 (Principal Amount $4,052,266, collateralized by various U.S. Government Agency Obligations, 0.000%–0.375%, Market Value plus accrued interest $4,133,316, due 11/21/11–10/30/13) | 4,052,266 | 0.6 | ||||||||||||||||
SHORT-TERM INVESTMENTS: (continued) | |||||||||||||||||||
Securities Lending Collateralcc(1): (continued) | |||||||||||||||||||
4,052,266 | BNP Paribas Bank, Repurchase Agreement dated 10/31/11, 0.08%, due 11/01/11 (Principal Amount $4,052,266 collateralized by various U.S. Government Securities,0.000%–7.250%, Market Value plus accrued interest $4,133,313, due 11/30/11–11/15/40) | $ | 4,052,266 | 0.6 | |||||||||||||||
853,111 | JPMorgan Chase & Co., Repurchase Agreement dated 10/31/11, 0.07%, due 11/01/11 (Principal Amount $853,111 collateralized by various U.S. Government Securities,1.250%–2.500%, Market Value plus accrued interest $870,181, due 07/15/13–07/15/20) | 853,111 | 0.2 | ||||||||||||||||
4,052,266 | Merrill Lynch & Co., Inc., Repurchase Agreement dated 10/31/11, 0.10%, due 11/01/11 (Principal Amount $4,052,266, collateralized by various U.S. Government Agency Obligations, 0.500%, Market Value plus accrued interest $4,133,331, due 10/30/12–02/15/13) | 4,052,266 | 0.7 | ||||||||||||||||
4,052,266 | Morgan Stanley, Repurchase Agreement dated 10/31/11, 0.15%, due 11/01/11 (Principal Amount $4,052,266, collateralized by various U.S. Government Agency Obligations, 4.000%–4.500%, Market Value plus accrued interest $4,133,313, due 03//01/41–10/01/41) | 4,052,266 | 0.6 | ||||||||||||||||
17,062,175 | 2.7 |
Shares | | | | Value | | Percentage of Net Assets | ||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Mutual Funds: 2.3% | ||||||||||||||||||
14,896,361 | BlackRock Liquidity Funds, TempFund, Institutional Class (Cost $14,896,361) | 14,896,361 | 2.3 | |||||||||||||||
Total Short-Term Investments | ||||||||||||||||||
(Cost $31,958,536) | 31,958,536 | 5.0 | ||||||||||||||||
Total Investments in Securities (Cost $670,023,624) | $ | 653,097,507 | 102.0 | |||||||||||||||
Liabilities in Excess of Other Assets | (12,932,482 | ) | (2.0 | ) | ||||||||||||||
Net Assets | $ | 640,165,025 | 100.0 |
AS OF OCTOBER 31, 2011 (CONTINUED)
† | Unless otherwise indicated, principal amount is shown in USD. |
# | Securities with purchases pursuant to Rule 144A or section 4(2), under the Securities Act of 1933 and may not be resold subject to that rule except to qualified institutional buyers. |
@ | Non-income producing security |
ADR | American Depository Receipt |
GDR | Global Depository Receipt |
cc | Securities purchased with cash collateral for securities loaned. |
L | Loaned security, a portion or all of the security is on loan at October 31, 2011. |
(1) | Collateral received from brokers for securities lending was invested into these short-term investments. |
Cost for federal income tax purposes is $675,062,304. |
Net unrealized depreciation consists of: | ||||||
Gross Unrealized Appreciation | $ | 39,804,097 | ||||
Gross Unrealized Depreciation | (61,768,894 | ) | ||||
Net Unrealized depreciation | $ | (21,964,797 | ) |
Sector Diversification | Percentage of Net Assets | |||||
---|---|---|---|---|---|---|
Consumer Discretionary | 5.3 | % | ||||
Consumer Staples | 4.3 | |||||
Energy | 11.6 | |||||
Financials | 11.9 | |||||
Health Care | 6.8 | |||||
Industrials | 16.1 | |||||
Information Technology | 5.9 | |||||
Materials | 17.2 | |||||
Telecommunications | 9.1 | |||||
Utilities | 8.8 | |||||
Short-Term Investments | 5.0 | |||||
Liabilities in Excess of Other Assets | (2.0 | ) | ||||
Net Assets | 100.0 | % |
Quoted Prices in Active Markets for Identical Investments (Level 1) | Significant Other Observable Inputs# (Level 2) | Significant Unobservable Inputs (Level 3) | Fair Value at 10/31/2011 | |||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Asset Table | ||||||||||||||||||
Investments, at value | ||||||||||||||||||
Common Stock | ||||||||||||||||||
Australia | $ | — | $ | 17,216,363 | $ | — | $ | 17,216,363 | ||||||||||
Brazil | 14,633,281 | — | — | 14,633,281 | ||||||||||||||
Canada | 66,494,664 | — | — | 66,494,664 | ||||||||||||||
China | — | — | 554,471 | 554,471 | ||||||||||||||
Egypt | — | 10,920,388 | — | 10,920,388 | ||||||||||||||
Finland | 8,829,760 | — | — | 8,829,760 | ||||||||||||||
France | — | 39,155,125 | — | 39,155,125 | ||||||||||||||
Greece | — | 3,732,743 | — | 3,732,743 | ||||||||||||||
Hong Kong | — | 4,271,501 | — | 4,271,501 | ||||||||||||||
Hungary | — | 2,761,127 | — | 2,761,127 | ||||||||||||||
India | — | 1,094,917 | — | 1,094,917 | ||||||||||||||
Indonesia | 10,315,760 | 1,246,878 | — | 11,562,638 | ||||||||||||||
Italy | — | 15,289,460 | — | 15,289,460 | ||||||||||||||
Japan | — | 125,818,822 | — | 125,818,822 | ||||||||||||||
Lebanon | — | 4,635,989 | — | 4,635,989 | ||||||||||||||
Norway | 9,747,319 | 2,930,429 | — | 12,677,748 | ||||||||||||||
Russia | 15,659,541 | 15,282,045 | — | 30,941,586 | ||||||||||||||
Slovenia | — | 3,263,955 | — | 3,263,955 | ||||||||||||||
South Africa | 11,102,576 | 13,790,842 | — | 24,893,418 | ||||||||||||||
South Korea | 22,148,435 | — | — | 22,148,435 | ||||||||||||||
Switzerland | — | 6,065,794 | — | 6,065,794 | ||||||||||||||
Thailand | — | 1,554,759 | — | 1,554,759 | ||||||||||||||
Turkey | 13,613,600 | — | — | 13,613,600 | ||||||||||||||
United Kingdom | 8,975,164 | 7,760,103 | — | 16,735,267 | ||||||||||||||
United States | 159,832,976 | — | — | 159,832,976 | ||||||||||||||
Total Common Stock | 341,353,076 | 276,791,240 | 554,471 | 618,698,787 | ||||||||||||||
Preferred Stock | 2,440,184 | — | — | 2,440,184 | ||||||||||||||
Short-Term Investments | 14,896,361 | 17,062,175 | — | 31,958,536 | ||||||||||||||
Total Investments, at value | $ | 358,689,621 | $ | 293,853,415 | $ | 554,471 | $ | 653,097,507 |
AS OF OCTOBER 31, 2011 (CONTINUED)
ˆ | See Note 2, “Significant Accounting Policies” in the Notes to Financial Statements for additional information. |
# | The earlier close of the foreign markets gives rise to the possibility that significant events, including broad market moves, may have occurred in the interim and may materially affect the value of those securities. To account for this, the Portfolio may frequently value many of its foreign equity securities using fair value prices based on third party vendor modeling tools to the extent available. Accordingly, a significant portion of the Portfolio’s investments are categorized as Level 2 investments. |
Beginning Balance 10/31/2010 | Purchases | Sales | Accrued Discounts/ (Premiums) | Total Realized Gain/(Loss) | Total Unrealized Appreciation/ (Depreciation) | Transfers Into Level 3 | Transfers Out of Level 3 | Ending Balance 10/31/2011 | ||||||||||||||||||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Asset Table | ||||||||||||||||||||||||||||||||||||||
Investments, at value | ||||||||||||||||||||||||||||||||||||||
Common Stock | $ | 230,218 | $ | — | $ | (230,218 | ) | $ | — | $ | (57,554 | ) | $ | 57,554 | $ | 554,471 | $ | — | $ | 554,471 | ||||||||||||||||||
Total Investments, at value | $ | 230,218 | $ | — | $ | (230,218 | ) | $ | — | $ | (57,554 | ) | $ | 57,554 | $ | 554,471 | $ | — | $ | 554,471 |
AS OF OCTOBER 31, 2011
Shares | | | | Value | | Percentage of Net Assets | |||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
COMMON STOCK: 98.4% | |||||||||||||||||||
Canada: 0.1% | |||||||||||||||||||
11,600 | Other Securities | $ | 34,745 | 0.1 | |||||||||||||||
China: 48.5% | |||||||||||||||||||
96,000 | Anhui Conch Cement Co., Ltd. | 349,081 | 1.0 | ||||||||||||||||
1,399,400 | Bank of China Ltd. | 498,059 | 1.5 | ||||||||||||||||
334,000 | China Coal Energy Co. — Class H | 416,007 | 1.2 | ||||||||||||||||
915,000 | China Communications Construction Co., Ltd. | 690,145 | 2.0 | ||||||||||||||||
680,000 | China Communications Services Corp., Ltd. | 313,606 | 0.9 | ||||||||||||||||
1,535,960 | China Construction Bank | 1,128,524 | 3.3 | ||||||||||||||||
204,000 | China Life Insurance Co., Ltd. | 527,421 | 1.6 | ||||||||||||||||
461,000 | China Minsheng Banking Corp. Ltd | 375,539 | 1.1 | ||||||||||||||||
179,500 | China Mobile Ltd. | 1,706,029 | 5.0 | ||||||||||||||||
150,000 | China Overseas Land & Investment Ltd. | 277,559 | 0.8 | ||||||||||||||||
712,000 | China Petroleum & Chemical Corp. | 673,360 | 2.0 | ||||||||||||||||
1,580,000 | China Power International Development Ltd. | 334,327 | 1.0 | ||||||||||||||||
88,000 | China Resources Enterprise | 321,380 | 1.0 | ||||||||||||||||
101,000 | China Shenhua Energy Co., Ltd. | 462,054 | 1.4 | ||||||||||||||||
416,000 | China Telecom Corp., Ltd. | 256,841 | 0.8 | ||||||||||||||||
138,500 | #, @ | CITIC Securities Co. Ltd. | 275,973 | 0.8 | |||||||||||||||
598,000 | CNOOC Ltd. | 1,130,435 | 3.3 | ||||||||||||||||
2,129,140 | Industrial and Commercial Bank of China Ltd. | 1,329,570 | 3.9 | ||||||||||||||||
570,000 | PetroChina Co., Ltd. | 739,970 | 2.2 | ||||||||||||||||
47,000 | Ping An Insurance Group Co. of China Ltd. | 348,571 | 1.0 | ||||||||||||||||
534,000 | China National Materials Co. Ltd. | 268,851 | 0.8 | ||||||||||||||||
26,100 | Tencent Holdings Ltd. | 603,630 | 1.8 | ||||||||||||||||
865,000 | Zijin Mining Group Co., Ltd. | 368,170 | 1.1 | ||||||||||||||||
5,121,500 | Other Securities | 3,046,420 | 9.0 | ||||||||||||||||
16,441,522 | 48.5 | ||||||||||||||||||
Hong Kong: 24.6% | |||||||||||||||||||
151,400 | AIA Group Ltd. | 462,942 | 1.4 | ||||||||||||||||
67,000 | Cheung Kong Holdings Ltd. | 830,527 | 2.4 | ||||||||||||||||
384,000 | Chow Sang Sang Holdings International Ltd. | 1,184,341 | 3.5 | ||||||||||||||||
49,000 | CLP Holdings Ltd. | 436,498 | 1.3 | ||||||||||||||||
323,280 | Dah Sing Banking Group Ltd. | 314,519 | 0.9 | ||||||||||||||||
COMMON STOCK: (continued) | |||||||||||||||||||
Hong Kong: (continued) | |||||||||||||||||||
33,100 | Hong Kong Exchanges and Clearing Ltd. | $ | 561,108 | 1.7 | |||||||||||||||
54,000 | Hutchison Whampoa Ltd. | 493,908 | 1.5 | ||||||||||||||||
120,000 | Kerry Properties Ltd. | 440,392 | 1.3 | ||||||||||||||||
150,000 | Li & Fung Ltd. | 289,079 | 0.9 | ||||||||||||||||
888,000 | Oriental Watch Holdings | 512,342 | 1.5 | ||||||||||||||||
202,000 | Sino Land Co. | 319,309 | 0.9 | ||||||||||||||||
38,000 | Sun Hung Kai Properties Ltd. | 523,214 | 1.5 | ||||||||||||||||
126,500 | Wharf Holdings Ltd. | 672,885 | 2.0 | ||||||||||||||||
2,624,000 | Other Securities | 1,293,782 | 3.8 | ||||||||||||||||
8,334,846 | 24.6 | ||||||||||||||||||
Taiwan: 25.2% | |||||||||||||||||||
395,522 | China Life Insurance Co., Ltd. | 438,377 | 1.3 | ||||||||||||||||
95,000 | Chunghwa Telecom Co., Ltd. | 317,835 | 0.9 | ||||||||||||||||
476,745 | E.Sun Financial Holding Co., Ltd. | 237,598 | 0.7 | ||||||||||||||||
85,000 | Formosa Chemicals & Fibre Co. | 245,996 | 0.7 | ||||||||||||||||
98,000 | Formosa Plastics Corp. | 288,227 | 0.8 | ||||||||||||||||
79,000 | Foxconn Technology Co., Ltd. | 275,344 | 0.8 | ||||||||||||||||
415,256 | Hon Hai Precision Industry Co., Ltd. | 1,138,373 | 3.4 | ||||||||||||||||
19,492 | HTC Corp. | 438,055 | 1.3 | ||||||||||||||||
28,000 | MediaTek, Inc. | 293,839 | 0.9 | ||||||||||||||||
64,000 | MStar Semiconductor, Inc. | 370,888 | 1.1 | ||||||||||||||||
111,000 | Synnex Technology International Corp. | 272,092 | 0.8 | ||||||||||||||||
166,000 | Taiwan Fertilizer Co., Ltd. | 427,856 | 1.3 | ||||||||||||||||
689,000 | Taiwan Semiconductor Manufacturing Co., Ltd. | 1,679,008 | 4.9 | ||||||||||||||||
454,159 | Yuanta Financial Holding Co., Ltd. | 258,892 | 0.8 | ||||||||||||||||
2,024,420 | Other Securities | 1,858,875 | 5.5 | ||||||||||||||||
8,541,255 | 25.2 | ||||||||||||||||||
Total Common Stock | |||||||||||||||||||
(Cost $31,195,328) | 33,352,368 | 98.4 | |||||||||||||||||
Assets in Excess of Other Liabilities | 536,830 | 1.6 | |||||||||||||||||
Net Assets | $ | 33,889,198 | 100.0 |
AS OF OCTOBER 31, 2011 (CONTINUED)
# | Securities with purchases pursuant to Rule 144A or section 4(2), under the Securities Act of 1933 and may not be resold subject to that rule except to qualified institutional buyers. |
@ | Non-income producing security |
Cost for federal income tax purposes is $32,331,362. |
Net unrealized appreciation consists of: | ||||||
Gross Unrealized Appreciation | $ | 4,200,625 | ||||
Gross Unrealized Depreciation | (3,179,619 | ) | ||||
Net Unrealized appreciation | $ | 1,021,006 |
Sector Diversification | Percentage of Net Assets | |||||
---|---|---|---|---|---|---|
Consumer Discretionary | 8.7 | % | ||||
Consumer Staples | 1.6 | |||||
Energy | 11.5 | |||||
Financials | 33.0 | |||||
Industrials | 7.2 | |||||
Information Technology | 18.9 | |||||
Materials | 7.3 | |||||
Telecommunications | 7.6 | |||||
Utilities | 2.6 | |||||
Assets in Excess of Other Liabilities | 1.6 | |||||
Net Assets | 100.0 | % |
Quoted Prices in Active Markets for Identical Investments (Level 1) | Significant Other Observable Inputs# (Level 2) | Significant Unobservable Inputs (Level 3) | Fair Value at 10/31/2011 | |||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Asset Table | ||||||||||||||||||
Investments, at value | ||||||||||||||||||
Common Stock | ||||||||||||||||||
Canada | $ | — | $ | 34,745 | $ | — | $ | 34,745 | ||||||||||
China | 275,973 | 16,081,725 | 83,824 | 16,441,522 | ||||||||||||||
Hong Kong | — | 8,334,846 | — | 8,334,846 | ||||||||||||||
Taiwan | — | 8,541,255 | — | 8,541,255 | ||||||||||||||
Total Common Stock | 275,973 | 32,992,571 | 83,824 | 33,352,368 | ||||||||||||||
Total Investments, at value | $ | 275,973 | $ | 32,992,571 | $ | 83,824 | $ | 33,352,368 |
ˆ | See Note 2, “Significant Accounting Policies” in the Notes to Financial Statements for additional information. |
# | The earlier close of the foreign markets gives rise to the possibility that significant events, including broad market moves, may have occurred in the interim and may materially affect the value of those securities. To account for this, the Portfolio may frequently value many of its foreign equity securities using fair value prices based on third party vendor modeling tools to the extent available. Accordingly, a significant portion of the Portfolio’s investments are categorized as Level 2 investments. |
Beginning Balance 10/31/2010 | Purchases | Sales | Accrued Discounts/ (Premiums) | Total Realized Gain/(Loss) | Total Unrealized Appreciation/ (Depreciation) | Transfers Into Level 3 | Transfers Out of Level 3 | Ending Balance 10/31/2011 | ||||||||||||||||||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Asset Table | ||||||||||||||||||||||||||||||||||||||
Investments, at value | ||||||||||||||||||||||||||||||||||||||
Common Stock | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | 83,824 | $ | — | $ | 83,824 | ||||||||||||||||||||
Total Investments, at value | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | ��$ | 83,824 | $ | — | $ | 83,824 |
AS OF OCTOBER 31, 2011
EQUITY FUND
Shares | | | | Value | | Percentage of Net Assets | |||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
COMMON STOCK: 96.8% | |||||||||||||||||||
Australia: 8.5% | |||||||||||||||||||
26,963 | Australia & New Zealand Banking Group Ltd. | $ | 609,265 | 0.6 | |||||||||||||||
28,612 | BHP Billiton Ltd. | 1,120,002 | 1.2 | ||||||||||||||||
15,485 | Commonwealth Bank of Australia | 795,463 | 0.8 | ||||||||||||||||
22,485 | National Australia Bank Ltd. | 600,559 | 0.6 | ||||||||||||||||
6,211 | Rio Tinto Ltd. | 445,912 | 0.5 | ||||||||||||||||
26,611 | Westpac Banking Corp. | 617,539 | 0.7 | ||||||||||||||||
591,919 | Other Securities | 3,875,239 | 4.1 | ||||||||||||||||
8,063,979 | 8.5 | ||||||||||||||||||
Austria: 0.5% | |||||||||||||||||||
14,696 | Other Securities | 487,724 | 0.5 | ||||||||||||||||
Belgium: 0.4% | |||||||||||||||||||
22,834 | Other Securities | 367,825 | 0.4 | ||||||||||||||||
China: 0.2% | |||||||||||||||||||
65,500 | Other Securities | 155,757 | 0.2 | ||||||||||||||||
Denmark: 0.8% | |||||||||||||||||||
4,864 | Novo-Nordisk A/S | 516,394 | 0.5 | ||||||||||||||||
2,248 | Other Securities | 240,326 | 0.3 | ||||||||||||||||
756,720 | 0.8 | ||||||||||||||||||
Finland: 0.6% | |||||||||||||||||||
61,322 | Other Securities | 607,982 | 0.6 | ||||||||||||||||
France: 10.0% | |||||||||||||||||||
10,761 | BNP Paribas | 480,531 | 0.5 | ||||||||||||||||
9,722 | Cie de Saint-Gobain | 449,326 | 0.5 | ||||||||||||||||
9,460 | Groupe Danone | 655,795 | 0.7 | ||||||||||||||||
9,583 | Sanofi-Aventis | 685,559 | 0.7 | ||||||||||||||||
25,538 | Total S.A. | 1,332,502 | 1.4 | ||||||||||||||||
180,668 | Other Securities | 5,822,355 | 6.2 | ||||||||||||||||
9,426,068 | 10.0 | ||||||||||||||||||
Germany: 8.2% | |||||||||||||||||||
12,437 | BASF AG | 907,850 | 1.0 | ||||||||||||||||
6,651 | Bayerische Motoren Werke AG | 540,288 | 0.6 | ||||||||||||||||
4,021 | MAN AG | 354,291 | 0.4 | ||||||||||||||||
3,248 | MAN SE | 423,988 | 0.4 | ||||||||||||||||
7,172 | SAP AG | 433,676 | 0.5 | ||||||||||||||||
9,502 | Siemens AG | 996,008 | 1.0 | ||||||||||||||||
495 | Volkswagen AG | 77,411 | 0.1 | ||||||||||||||||
116,440 | Other Securities | 4,024,429 | 4.2 | ||||||||||||||||
7,757,941 | 8.2 | ||||||||||||||||||
Greece: 0.5% | |||||||||||||||||||
69,357 | Other Securities | 481,129 | 0.5 | ||||||||||||||||
Hong Kong: 2.6% | |||||||||||||||||||
750,800 | Other Securities | 2,436,173 | 2.6 | ||||||||||||||||
India: 0.1% | |||||||||||||||||||
4,092 | Other Securities | 83,522 | 0.1 | ||||||||||||||||
COMMON STOCK: (continued) | |||||||||||||||||||
Ireland: 0.1% | |||||||||||||||||||
4,811 | Other Securities | $ | 87,044 | 0.1 | |||||||||||||||
Israel: 0.7% | |||||||||||||||||||
36,654 | Other Securities | 638,487 | 0.7 | ||||||||||||||||
Italy: 2.9% | |||||||||||||||||||
130,598 | Enel S.p.A. | 616,174 | 0.7 | ||||||||||||||||
34,947 | ENI S.p.A. | 772,466 | 0.8 | ||||||||||||||||
232,979 | Telecom Italia S.p.A. | 289,890 | 0.3 | ||||||||||||||||
194,688 | Telecom Italia S.p.A. RNC | 204,317 | 0.2 | ||||||||||||||||
301,954 | Other Securities | 885,565 | 0.9 | ||||||||||||||||
2,768,412 | 2.9 | ||||||||||||||||||
Japan: 19.4% | |||||||||||||||||||
13,300 | Canon, Inc. | 603,791 | 0.6 | ||||||||||||||||
25,300 | Mitsubishi Corp. | 520,344 | 0.6 | ||||||||||||||||
133,097 | Mitsubishi UFJ Financial Group, Inc. | 578,431 | 0.6 | ||||||||||||||||
33,892 | Mitsui & Co., Ltd. | 494,638 | 0.5 | ||||||||||||||||
17,100 | Seven & I Holdings Co., Ltd. | 456,326 | 0.5 | ||||||||||||||||
22,600 | Sony Corp. | 471,513 | 0.5 | ||||||||||||||||
29,590 | Toyota Motor Corp. | 982,411 | 1.0 | ||||||||||||||||
1,337,021 | Other Securities | 14,288,950 | 15.1 | ||||||||||||||||
18,396,404 | 19.4 | ||||||||||||||||||
Luxembourg: 0.1% | |||||||||||||||||||
4,111 | Other Securities | 72,322 | 0.1 | ||||||||||||||||
Macau: 0.1% | |||||||||||||||||||
36,000 | Other Securities | 108,187 | 0.1 | ||||||||||||||||
Netherlands: 4.0% | |||||||||||||||||||
27,330 | Royal Dutch Shell PLC — Class A | 968,156 | 1.0 | ||||||||||||||||
29,115 | Royal Dutch Shell PLC — Class B | 1,044,591 | 1.1 | ||||||||||||||||
15,194 | Unilever NV | 524,552 | 0.5 | ||||||||||||||||
56,179 | Other Securities | 1,288,083 | 1.4 | ||||||||||||||||
3,825,382 | 4.0 | ||||||||||||||||||
New Zealand: 0.3% | |||||||||||||||||||
134,135 | Other Securities | 273,857 | 0.3 | ||||||||||||||||
Norway: 1.1% | |||||||||||||||||||
62,418 | Other Securities | 1,045,739 | 1.1 | ||||||||||||||||
Portugal: 0.6% | |||||||||||||||||||
408,881 | Other Securities | 550,360 | 0.6 | ||||||||||||||||
Singapore: 1.6% | |||||||||||||||||||
320,000 | Other Securities | 1,484,320 | 1.6 | ||||||||||||||||
Spain: 5.1% | |||||||||||||||||||
91,400 | Banco Santander Central Hispano S.A. | 773,597 | 0.8 | ||||||||||||||||
74,864 | Iberdrola S.A. | 541,639 | 0.6 |
AS OF OCTOBER 31, 2011 (CONTINUED)
EQUITY FUND
Shares | | | | Value | | Percentage of Net Assets | |||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
COMMON STOCK: (continued) | |||||||||||||||||||
Spain: (continued) | |||||||||||||||||||
4,859 | Inditex S.A. | $ | 441,098 | 0.5 | |||||||||||||||
18,636 | Repsol YPF S.A. | 560,938 | 0.6 | ||||||||||||||||
59,198 | Telefonica S.A. | 1,258,053 | 1.3 | ||||||||||||||||
125,379 | Other Securities | 1,274,008 | 1.3 | ||||||||||||||||
4,849,333 | 5.1 | ||||||||||||||||||
Sweden: 2.7% | |||||||||||||||||||
23,497 | Atlas Copco AB — Class A | 510,813 | 0.5 | ||||||||||||||||
149,688 | Other Securities | 2,082,578 | 2.2 | ||||||||||||||||
2,593,391 | 2.7 | ||||||||||||||||||
Switzerland: 6.1% | |||||||||||||||||||
23,291 | Nestle S.A. | 1,347,098 | 1.4 | ||||||||||||||||
25,180 | Novartis AG | 1,418,522 | 1.5 | ||||||||||||||||
7,716 | Roche Holding AG — Genusschein | 1,265,960 | 1.3 | ||||||||||||||||
553 | # | Synthes, Inc. | 92,478 | 0.1 | |||||||||||||||
54,059 | Other Securities | 1,694,660 | 1.8 | ||||||||||||||||
5,818,718 | 6.1 | ||||||||||||||||||
United Kingdom: 19.6% | |||||||||||||||||||
19,365 | Anglo American PLC | 709,929 | 0.7 | ||||||||||||||||
18,009 | AstraZeneca PLC | 864,596 | 0.9 | ||||||||||||||||
20,364 | BHP Billiton PLC | 641,251 | 0.7 | ||||||||||||||||
213,788 | BP PLC | 1,573,229 | 1.7 | ||||||||||||||||
23,344 | British American Tobacco PLC | 1,070,329 | 1.1 | ||||||||||||||||
38,592 | Diageo PLC | 798,690 | 0.8 | ||||||||||||||||
49,534 | GlaxoSmithKline PLC | 1,111,658 | 1.2 | ||||||||||||||||
136,806 | HSBC Holdings PLC | 1,193,673 | 1.3 | ||||||||||||||||
18,622 | Imperial Tobacco Group PLC | 678,341 | 0.7 | ||||||||||||||||
10,256 | Rio Tinto PLC | 554,838 | 0.6 | ||||||||||||||||
368,875 | Vodafone Group PLC | 1,024,249 | 1.1 | ||||||||||||||||
1,536,729 | Other Securities | 8,389,455 | 8.8 | ||||||||||||||||
18,610,238 | 19.6 | ||||||||||||||||||
Total Common Stock | |||||||||||||||||||
(Cost $85,480,079) | 91,747,014 | 96.8 | |||||||||||||||||
PREFERRED STOCK: 0.6% | |||||||||||||||||||
Germany: 0.6% | |||||||||||||||||||
2,991 | Volkswagen AG | 520,882 | 0.6 | ||||||||||||||||
643 | Other Securities | 37,458 | 0.0 | ||||||||||||||||
Total Preferred Stock | |||||||||||||||||||
(Cost $514,560) | 558,340 | 0.6 | |||||||||||||||||
RIGHTS: 0.0% | |||||||||||||||||||
Hong Kong: 0.0% | |||||||||||||||||||
24,500 | Other Securities | 8,359 | 0.0 | ||||||||||||||||
Total Rights | |||||||||||||||||||
(Cost $—) | 8,359 | 0.0 | |||||||||||||||||
Total Long-Term Investments | |||||||||||||||||||
(Cost $85,994,639) | 92,313,713 | 97.4 | |||||||||||||||||
SHORT-TERM INVESTMENTS: 3.7% | |||||||||||||||||||
Mutual Funds: 3.7% | |||||||||||||||||||
3,496,000 | BlackRock Liquidity Funds, TempFund, Institutional Class (Cost $3,496,000) | $ | 3,496,000 | 3.7 | |||||||||||||||
Total Short-Term Investments | |||||||||||||||||||
(Cost $3,496,000) | 3,496,000 | 3.7 | |||||||||||||||||
Total Investments in Securities (Cost $89,490,639) | $ | 95,809,713 | 101.1 | ||||||||||||||||
Liabilities in Excess of Other Assets | (1,080,771 | ) | (1.1 | ) | |||||||||||||||
Net Assets | $ | 94,728,942 | 100.0 |
# | Securities with purchases pursuant to Rule 144A or section 4(2), under the Securities Act of 1933 and may not be resold subject to that rule except to qualified institutional buyers. |
Cost for federal income tax purposes is $93,914,420. |
Net unrealized appreciation consists of: | ||||||
Gross Unrealized Appreciation | $ | 10,111,620 | ||||
Gross Unrealized Depreciation | (8,216,327 | ) | ||||
Net Unrealized appreciation | $ | 1,895,293 |
Sector Diversification | Percentage of Net Assets | |||||
---|---|---|---|---|---|---|
Consumer Discretionary | 10.0 | % | ||||
Consumer Staples | 11.6 | |||||
Energy | 9.1 | |||||
Financials | 21.5 | |||||
Health Care | 9.2 | |||||
Industrials | 11.5 | |||||
Information Technology | 4.4 | |||||
Materials | 9.3 | |||||
Telecommunications | 6.5 | |||||
Utilities | 4.3 | |||||
Short-Term Investments | 3.7 | |||||
Liabilities in Excess of Other Assets | (1.1 | ) | ||||
Net Assets | 100.0 | % |
AS OF OCTOBER 31, 2011 (CONTINUED)
EQUITY FUND
Quoted Prices in Active Markets for Identical Investments (Level 1) | Significant Other Observable Inputs# (Level 2) | Significant Unobservable Inputs (Level 3) | Fair Value at 10/31/2011 | |||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Asset Table | ||||||||||||||||||
Investments, at value | ||||||||||||||||||
Common Stock | ||||||||||||||||||
Australia | $ | 92,033 | $ | 7,971,946 | $ | — | $ | 8,063,979 | ||||||||||
Austria | — | 487,724 | — | 487,724 | ||||||||||||||
Belgium | 20 | 367,805 | — | 367,825 | ||||||||||||||
China | — | 155,757 | — | 155,757 | ||||||||||||||
Denmark | — | 756,720 | — | 756,720 | ||||||||||||||
Finland | — | 607,982 | — | 607,982 | ||||||||||||||
France | — | 9,426,068 | — | 9,426,068 | ||||||||||||||
Germany | 423,988 | 7,333,953 | — | 7,757,941 | ||||||||||||||
Greece | — | 481,129 | — | 481,129 | ||||||||||||||
Hong Kong | — | 2,436,173 | — | 2,436,173 | ||||||||||||||
India | — | 83,522 | — | 83,522 | ||||||||||||||
Ireland | — | 87,044 | — | 87,044 | ||||||||||||||
Israel | — | 638,487 | — | 638,487 | ||||||||||||||
Italy | — | 2,768,412 | — | 2,768,412 | ||||||||||||||
Japan | — | 18,396,404 | — | 18,396,404 | ||||||||||||||
Luxembourg | — | 72,322 | — | 72,322 | ||||||||||||||
Macau | — | 108,187 | — | 108,187 | ||||||||||||||
Netherlands | 220,658 | 3,604,724 | — | 3,825,382 | ||||||||||||||
New Zealand | — | 273,857 | — | 273,857 | ||||||||||||||
Norway | — | 1,045,739 | — | 1,045,739 | ||||||||||||||
Portugal | — | 550,360 | — | 550,360 | ||||||||||||||
Singapore | 32,830 | 1,451,490 | — | 1,484,320 | ||||||||||||||
Spain | — | 4,849,333 | — | 4,849,333 | ||||||||||||||
Sweden | — | 2,593,391 | — | 2,593,391 | ||||||||||||||
Switzerland | — | 5,818,718 | — | 5,818,718 | ||||||||||||||
United Kingdom | — | 18,610,238 | — | 18,610,238 | ||||||||||||||
Total Common Stock | 769,529 | 90,977,485 | — | 91,747,014 | ||||||||||||||
Preferred Stock | — | 558,340 | — | 558,340 | ||||||||||||||
Rights | — | 8,359 | — | 8,359 | ||||||||||||||
Short-Term Investments | 3,496,000 | — | — | 3,496,000 | ||||||||||||||
Total Investments, at value | $ | 4,265,529 | $ | 91,544,184 | $ | — | $ | 95,809,713 | ||||||||||
Other Financial Instruments+ | ||||||||||||||||||
Futures | 208,289 | — | — | 208,289 | ||||||||||||||
Forward Foreign Currency Contracts | — | 48,298 | — | 48,298 | ||||||||||||||
Total Assets | $ | 4,473,818 | $ | 91,592,482 | $ | — | $ | 96,066,300 | ||||||||||
Liabilities Table | �� | |||||||||||||||||
Other Financial Instruments+ | ||||||||||||||||||
Forward Foreign Currency Contracts | $ | — | $ | (102,069 | ) | $ | — | $ | (102,069 | ) | ||||||||
Total Liabilities | $ | — | $ | (102,069 | ) | $ | — | $ | (102,069 | ) |
ˆ | See Note 2, “Significant Accounting Policies” in the Notes to Financial Statements for additional information. |
+ | Other Financial Instruments are derivatives not reflected in the Portfolio of Investments and may include open forward foreign currency contracts, equity forwards, futures, swaps, and written options. Forward foreign currency contracts, equity forwards and futures are valued at the unrealized gain (loss) on the instrument. Swaps and written options are valued at the fair value of the instrument. |
# | The earlier close of the foreign markets gives rise to the possibility that significant events, including broad market moves, may have occurred in the interim and may materially affect the value of those securities. To account for this, the Portfolio may frequently value many of its foreign equity securities using fair value prices based on third party vendor modeling tools to the extent available. Accordingly, a significant portion of the Portfolio’s investments are categorized as Level 2 investments. |
AS OF OCTOBER 31, 2011 (CONTINUED)
EQUITY FUND
Counterparty | Currency | Contract Amount | Buy/Sell | Settlement Date | In Exchange For | Fair Value | Unrealized Appreciation (Depreciation) | |||||||||||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Credit Suisse First Boston | Swiss Franc | 398,734 | Buy | 11/10/11 | $ | 531,589 | $ | 454,309 | $ | (77,280 | ) | |||||||||||||||||||
JPMorgan Chase & Co. | Japanese Yen | 90,595,654 | Buy | 11/10/11 | 1,183,807 | 1,159,018 | (24,789 | ) | ||||||||||||||||||||||
$ | (102,069 | ) | ||||||||||||||||||||||||||||
JPMorgan Chase & Co. | EU Euro | 1,267,353 | Sell | 11/10/11 | $ | 1,801,764 | $ | 1,753,466 | $ | 48,298 | ||||||||||||||||||||
$ | 48,298 |
Contract Description | Number of Contracts | Expiration Date | Notional Value | Unrealized Appreciation/ (Depreciation) | ||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Long Contracts | ||||||||||||||||||
MSCI EAFE Mini Index | 36 | 12/16/11 | $ | 2,665,620 | $ | 208,289 | ||||||||||||
$ | 2,665,620 | $ | 208,289 |
Derivatives not accounted for as hedging instruments | Location on Statement of Assets and Liabilities | Fair Value | ||||||||
---|---|---|---|---|---|---|---|---|---|---|
Asset Derivatives | ||||||||||
Foreign exchange contracts | Unrealized appreciation on forward foreign currency contracts | $ | 48,298 | |||||||
Equity contracts | Net Assets — Unrealized appreciation* | 208,289 | ||||||||
Total Asset Derivatives | $ | 256,587 | ||||||||
Liability Derivatives | ||||||||||
Foreign exchange contracts | Unrealized depreciation on forward foreign currency contracts | $ | 102,069 | |||||||
Total Liability Derivatives | $ | 102,069 |
* | Includes cumulative appreciation/depreciation of futures contracts as reported in the table following the Summary Portfolio of Investments. |
Amount of Realized Gain or (Loss) on Derivatives Recognized in Income | |||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Derivatives not accounted for as hedging instruments | Foreign currency related transactions* | Futures | Total | ||||||||||||
Equity contracts | $ | — | $ | 160,735 | $ | 160,735 | |||||||||
Foreign exchange contracts | 6,876 | — | 6,876 | ||||||||||||
Total | $ | 6,876 | $ | 160,735 | $ | 167,611 |
Change in Unrealized Appreciation or (Depreciation) on Derivatives Recognized in Income | |||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Derivatives not accounted for as hedging instruments | Foreign currency related transactions* | Futures | Total | ||||||||||||
Equity contracts | $ | — | $ | 209,289 | $ | 209,289 | |||||||||
Foreign exchange contracts | (53,771 | ) | — | (53,771 | ) | ||||||||||
Total | $ | (53,771 | ) | $ | 209,289 | $ | 155,518 |
* | Amounts recognized for forward foreign currency contracts are included in net realized gain (loss) on foreign currency related transactions and net change in unrealized appreciation or depreciation on foreign currency related transactions. |
AS OF OCTOBER 31, 2011
APPRECIATION FUND
Shares | | | | Value | | Percentage of Net Assets | |||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
COMMON STOCK: 99.1% | |||||||||||||||||||
Australia: 5.9% | |||||||||||||||||||
17,785 | BHP Billiton Ltd. | $ | 696,185 | 1.9 | |||||||||||||||
18,825 | Woodside Petroleum Ltd. | 716,798 | 1.9 | ||||||||||||||||
26,866 | WorleyParsons Ltd. | 779,776 | 2.1 | ||||||||||||||||
2,192,759 | 5.9 | ||||||||||||||||||
Austria: 0.9% | |||||||||||||||||||
15,011 | Other Securities | 320,011 | 0.9 | ||||||||||||||||
Belgium: 1.4% | |||||||||||||||||||
9,106 | Anheuser-Busch InBev NV | 504,984 | 1.4 | ||||||||||||||||
Brazil: 3.7% | |||||||||||||||||||
32,622 | Cia Energetica de Minas Gerais ADR | 555,879 | 1.5 | ||||||||||||||||
28,641 | Itau Unibanco Holding SA ADR | 547,616 | 1.5 | ||||||||||||||||
46,353 | Other Securities | 252,169 | 0.7 | ||||||||||||||||
1,355,664 | 3.7 | ||||||||||||||||||
Canada: 6.2% | |||||||||||||||||||
10,237 | Bank of Nova Scotia | 538,569 | 1.5 | ||||||||||||||||
25,088 | Cameco Corp. | 537,636 | 1.4 | ||||||||||||||||
41,826 | Manulife Financial Corp. | 552,521 | 1.5 | ||||||||||||||||
20,735 | Suncor Energy, Inc. | 661,654 | 1.8 | ||||||||||||||||
2,290,380 | 6.2 | ||||||||||||||||||
Chile: 1.2% | |||||||||||||||||||
7,635 | L | Sociedad Quimica y Minera de Chile SA ADR | 446,648 | 1.2 | |||||||||||||||
China: 9.8% | |||||||||||||||||||
594,000 | Agile Property Holdings Ltd. | 535,417 | 1.5 | ||||||||||||||||
641,000 | China Longyuan Power Group Corp. | 532,304 | 1.4 | ||||||||||||||||
264,000 | China Unicom Ltd. | 530,803 | 1.4 | ||||||||||||||||
737,000 | Industrial and Commercial Bank of China Ltd. | 460,229 | 1.2 | ||||||||||||||||
69,000 | Ping An Insurance Group Co. of China Ltd. | 511,732 | 1.4 | ||||||||||||||||
24,700 | Tencent Holdings Ltd. | 571,251 | 1.5 | ||||||||||||||||
76,163 | Other Securities | 503,548 | 1.4 | ||||||||||||||||
3,645,284 | 9.8 | ||||||||||||||||||
Denmark: 1.2% | |||||||||||||||||||
4,123 | Novo-Nordisk A/S | 437,724 | 1.2 | ||||||||||||||||
France: 2.3% | |||||||||||||||||||
27,589 | AXA S.A. | 443,740 | 1.2 | ||||||||||||||||
6,031 | Groupe Danone | 418,086 | 1.1 | ||||||||||||||||
861,826 | 2.3 | ||||||||||||||||||
Germany: 7.9% | |||||||||||||||||||
10,508 | Adidas AG | 740,045 | 2.0 | ||||||||||||||||
7,305 | Bayer AG | 465,416 | 1.3 | ||||||||||||||||
6,452 | Bayerische Motoren Werke AG | 524,123 | 1.4 | ||||||||||||||||
COMMON STOCK: (continued) | |||||||||||||||||||
Germany: (continued) | |||||||||||||||||||
8,023 | @ | Deutsche Boerse AG | $ | 442,178 | 1.2 | ||||||||||||||
3,990 | L | Wacker Chemie AG | 401,592 | 1.1 | |||||||||||||||
25,555 | Other Securities | 361,831 | 0.9 | ||||||||||||||||
2,935,185 | 7.9 | ||||||||||||||||||
Hong Kong: 2.8% | |||||||||||||||||||
342,000 | China Resources Land Ltd. | 500,584 | 1.3 | ||||||||||||||||
282,850 | Li & Fung Ltd. | 545,107 | 1.5 | ||||||||||||||||
1,045,691 | 2.8 | ||||||||||||||||||
India: 3.5% | |||||||||||||||||||
16,228 | HDFC Bank Ltd. ADR | 513,779 | 1.4 | ||||||||||||||||
38,092 | Vedanta Resources PLC | 777,496 | 2.1 | ||||||||||||||||
1,291,275 | 3.5 | ||||||||||||||||||
Israel: 2.0% | |||||||||||||||||||
10,830 | Teva Pharmaceutical Industries Ltd. ADR | 442,406 | 1.2 | ||||||||||||||||
8,762 | Other Securities | 313,329 | 0.8 | ||||||||||||||||
755,735 | 2.0 | ||||||||||||||||||
Italy: 3.3% | |||||||||||||||||||
87,700 | @ | Prada SpA | 439,697 | 1.2 | |||||||||||||||
17,431 | Saipem S.p.A. | 778,859 | 2.1 | ||||||||||||||||
1,218,556 | 3.3 | ||||||||||||||||||
Japan: 13.2% | |||||||||||||||||||
18,100 | Canon, Inc. | 821,700 | 2.2 | ||||||||||||||||
3,900 | Fanuc Ltd. | 630,592 | 1.7 | ||||||||||||||||
25,900 | Komatsu Ltd. | 640,373 | 1.8 | ||||||||||||||||
39,000 | NGK Insulators Ltd. | 449,590 | 1.2 | ||||||||||||||||
598 | Rakuten, Inc. | 655,549 | 1.8 | ||||||||||||||||
2,600 | SMC Corp. | 404,408 | 1.1 | ||||||||||||||||
9,500 | Terumo Corp. | 482,695 | 1.3 | ||||||||||||||||
23,700 | Toyota Motor Corp. | 786,859 | 2.1 | ||||||||||||||||
4,871,766 | 13.2 | ||||||||||||||||||
Mexico: 1.2% | |||||||||||||||||||
17,583 | Wal-Mart de Mexico SA de CV ADR | 451,883 | 1.2 | ||||||||||||||||
Norway: 2.4% | |||||||||||||||||||
49,293 | Telenor ASA | 878,043 | 2.4 | ||||||||||||||||
Russia: 1.5% | |||||||||||||||||||
46,430 | Gazprom OAO ADR | 541,838 | 1.5 | ||||||||||||||||
South Korea: 2.3% | |||||||||||||||||||
2,011 | @ | Samsung Electronics Co., Ltd. GDR | 861,911 | 2.3 | |||||||||||||||
Spain: 1.2% | |||||||||||||||||||
24,084 | @ | Grifols SA | 447,781 | 1.2 | |||||||||||||||
Sweden: 1.6% | |||||||||||||||||||
5,261 | Millicom International Cellular S.A. | 580,217 | 1.6 | ||||||||||||||||
AS OF OCTOBER 31, 2011 (CONTINUED)
APPRECIATION FUND
Shares | | | | Value | | Percentage of Net Assets | |||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
COMMON STOCK: (continued) | |||||||||||||||||||
Switzerland: 7.8% | |||||||||||||||||||
24,464 | ABB Ltd. | $ | 460,545 | 1.2 | |||||||||||||||
11,170 | Adecco S.A. | 536,464 | 1.5 | ||||||||||||||||
9,085 | Compagnie Financiere Richemont S.A. | 517,524 | 1.4 | ||||||||||||||||
8,589 | Holcim Ltd. | 543,908 | 1.5 | ||||||||||||||||
7,313 | Nestle S.A. | 422,967 | 1.1 | ||||||||||||||||
2,493 | Roche Holding AG —Genusschein | 409,025 | 1.1 | ||||||||||||||||
2,890,433 | 7.8 | ||||||||||||||||||
Taiwan: 1.3% | |||||||||||||||||||
176,200 | Hon Hai Precision Industry Co., Ltd. | 483,031 | 1.3 | ||||||||||||||||
United Kingdom: 14.5% | |||||||||||||||||||
16,447 | Anglo American PLC | 602,954 | 1.6 | ||||||||||||||||
50,300 | ARM Holdings PLC | 471,959 | 1.3 | ||||||||||||||||
29,350 | BG Group PLC | 636,425 | 1.7 | ||||||||||||||||
37,612 | British Sky Broadcasting PLC | 424,093 | 1.1 | ||||||||||||||||
11,671 | HSBC Holdings PLC ADR | 509,556 | 1.4 | ||||||||||||||||
57,149 | Prudential PLC | 590,298 | 1.6 | ||||||||||||||||
61,322 | Rolls-Royce Holdings PLC | 690,268 | 1.9 | ||||||||||||||||
17,212 | Schroders PLC | 393,951 | 1.1 | ||||||||||||||||
18,762 | Standard Chartered PLC | 437,798 | 1.2 | ||||||||||||||||
95,425 | Tesco PLC | 615,244 | 1.6 | ||||||||||||||||
4,231,218 | Other Securities | 6,803 | 0.0 | ||||||||||||||||
5,379,349 | 14.5 | ||||||||||||||||||
Total Common Stock | |||||||||||||||||||
(Cost $37,779,852) | 36,687,974 | 99.1 | |||||||||||||||||
EXCHANGE-TRADED FUNDS: 0.9% | |||||||||||||||||||
6,817 | Other Securities | 333,930 | 0.9 | ||||||||||||||||
Total Exchange-Traded Funds | |||||||||||||||||||
(Cost $319,730) | 333,930 | 0.9 | |||||||||||||||||
Total Long-Term Investments | |||||||||||||||||||
(Cost $38,099,582) | 37,021,904 | 100.0 |
Principal Amount† | | | | Value | | Percentage of Net Assets | |||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
SHORT-TERM INVESTMENTS: 2.1% | |||||||||||||||||||
Securities Lending Collateralcc(1): 2.1% | |||||||||||||||||||
795,990 | Citigroup, Inc., Repurchase Agreement dated 10/31/11, 0.13%, due 11/01/11 (Principal Amount $795,990, collateralized by various U.S. Government and U.S. Government Agency Obligations, 0.000%–6.125%, Market Value plus accrued interest $811,910, due 12/29/11–05/15/37) (Cost $795,990) | $ | 795,990 | 2.1 | |||||||||||||||
Total Short-Term Investments | |||||||||||||||||||
(Cost $795,990) | 795,990 | 2.1 | |||||||||||||||||
Total Investments in Securities (Cost $38,895,572) | $ | 37,817,894 | 102.1 | ||||||||||||||||
Liabilities in Excess of Other Assets | (790,641 | ) | (2.1 | ) | |||||||||||||||
Net Assets | $ | 37,027,253 | 100.0 |
† | Unless otherwise indicated, principal amount is shown in USD. |
@ | Non-income producing security |
ADR | American Depository Receipt |
cc | Securities purchased with cash collateral for securities loaned. |
L | Loaned security, a portion or all of the security is on loan at October 31, 2011. |
(1) | Collateral received from brokers for securities lending was invested into these short-term investments. |
Cost for federal income tax purposes is $40,265,931. |
Net unrealized depreciation consists of: | ||||||
Gross Unrealized Appreciation | $ | 2,888,755 | ||||
Gross Unrealized Depreciation | (5,336,792 | ) | ||||
Net Unrealized depreciation | $ | (2,448,037 | ) |
AS OF OCTOBER 31, 2011 (CONTINUED)
APPRECIATION FUND
Sector Diversification | Percentage of Net Assets | |||||
---|---|---|---|---|---|---|
Consumer Discretionary | 13.5 | % | ||||
Consumer Staples | 7.1 | |||||
Energy | 12.5 | |||||
Financials | 20.3 | |||||
Health Care | 7.3 | |||||
Industrials | 10.4 | |||||
Information Technology | 10.3 | |||||
Materials | 9.4 | |||||
Telecommunication Services | 3.0 | |||||
Telecommunications | 2.4 | |||||
Utilities | 2.9 | |||||
Other Long-Term Investments | 0.9 | |||||
Short-Term Investments | 2.1 | |||||
Liabilities in Excess of Other Assets | (2.1 | ) | ||||
Net Assets | 100.0 | % |
Quoted Prices in Active Markets for Identical Investments (Level 1) | Significant Other Observable Inputs# (Level 2) | Significant Unobservable Inputs (Level 3) | Fair Value at 10/31/2011 | |||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Asset Table | ||||||||||||||||||
Investments, at value | ||||||||||||||||||
Common Stock | ||||||||||||||||||
Australia | $ | — | $ | 2,192,759 | $ | — | $ | 2,192,759 | ||||||||||
Austria | — | 320,011 | — | 320,011 | ||||||||||||||
Belgium | — | 504,984 | — | 504,984 | ||||||||||||||
Brazil | 808,048 | 547,616 | — | 1,355,664 | ||||||||||||||
Canada | 2,290,380 | — | — | 2,290,380 | ||||||||||||||
Chile | — | 446,648 | — | 446,648 | ||||||||||||||
China | 375,331 | 3,269,953 | — | 3,645,284 | ||||||||||||||
Denmark | — | 437,724 | — | 437,724 | ||||||||||||||
France | — | 861,826 | — | 861,826 | ||||||||||||||
Germany | — | 2,935,185 | — | 2,935,185 | ||||||||||||||
Hong Kong | — | 1,045,691 | — | 1,045,691 | ||||||||||||||
India | 513,779 | 777,496 | — | 1,291,275 | ||||||||||||||
Israel | 755,735 | — | — | 755,735 | ||||||||||||||
Italy | 439,697 | 778,859 | — | 1,218,556 | ||||||||||||||
Japan | — | 4,871,766 | — | 4,871,766 | ||||||||||||||
Mexico | 451,883 | — | — | 451,883 | ||||||||||||||
Norway | — | 878,043 | — | 878,043 | ||||||||||||||
Russia | 541,838 | — | — | 541,838 | ||||||||||||||
South Korea | — | 861,911 | — | 861,911 | ||||||||||||||
Spain | — | 447,781 | — | 447,781 | ||||||||||||||
Sweden | — | 580,217 | — | 580,217 | ||||||||||||||
Switzerland | — | 2,890,433 | — | 2,890,433 | ||||||||||||||
Taiwan | — | 483,031 | — | 483,031 | ||||||||||||||
United Kingdom | 509,556 | 4,869,793 | — | 5,379,349 | ||||||||||||||
Total Common Stock | 6,686,247 | 30,001,727 | — | 36,687,974 | ||||||||||||||
Exchange-Traded Funds | 333,930 | — | — | 333,930 | ||||||||||||||
Short-Term Investments | — | 795,990 | — | 795,990 | ||||||||||||||
Total Investments, at value | $ | 7,020,177 | $ | 30,797,717 | $ | — | $ | 37,817,894 |
ˆ | See Note 2, “Significant Accounting Policies” in the Notes to Financial Statements for additional information. |
AS OF OCTOBER 31, 2011 (CONTINUED)
APPRECIATION FUND
# | The earlier close of the foreign markets gives rise to the possibility that significant events, including broad market moves, may have occurred in the interim and may materially affect the value of those securities. To account for this, the Portfolio may frequently value many of its foreign equity securities using fair value prices based on third party vendor modeling tools to the extent available. Accordingly, a significant portion of the Portfolio’s investments are categorized as Level 2 investments. |
Beginning Balance 10/31/2010 | Purchases | Sales | Accrued Discounts/ (Premiums) | Total Realized Gain/(Loss) | Total Unrealized Appreciation/ (Depreciation) | Transfers Into Level 3 | Transfers Out of Level 3 | Ending Balance 10/31/2011 | ||||||||||||||||||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Asset Table | ||||||||||||||||||||||||||||||||||||||
Investments, at value | ||||||||||||||||||||||||||||||||||||||
Short-Term Investments | $ | 63,811 | $ | — | $ | (63,811 | ) | $ | — | $ | (15,953 | ) | $ | 15,953 | $ | — | $ | — | $ | — | ||||||||||||||||||
Total Investments, at value | $ | 63,811 | $ | — | $ | (63,811 | ) | $ | — | $ | (15,953 | ) | $ | 15,953 | $ | — | $ | — | $ | — |
AS OF OCTOBER 31, 2011
Shares | | | | Value | | Percentage of Net Assets | |||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
COMMON STOCK: 94.9% | |||||||||||||||||||
Australia: 1.0% | |||||||||||||||||||
70,662 | BHP Billiton Ltd. | $ | 2,766,028 | 0.8 | |||||||||||||||
152,765 | Other Securities | 767,312 | 0.2 | ||||||||||||||||
3,533,340 | 1.0 | ||||||||||||||||||
Belgium: 0.4% | |||||||||||||||||||
35,132 | Other Securities | 1,502,917 | 0.4 | ||||||||||||||||
Brazil: 4.4% | |||||||||||||||||||
118,000 | Petroleo Brasileiro SA ADR | 3,187,180 | 0.9 | ||||||||||||||||
1,288,403 | Other Securities | 12,258,299 | 3.5 | ||||||||||||||||
15,445,479 | 4.4 | ||||||||||||||||||
Canada: 4.9% | |||||||||||||||||||
39,801 | Canadian National Railway Co. | 3,117,795 | 0.9 | ||||||||||||||||
104,916 | Canadian Natural Resources Ltd. | 3,700,875 | 1.0 | ||||||||||||||||
64,195 | Potash Corp. of Saskatchewan | 3,038,349 | 0.9 | ||||||||||||||||
418,800 | Other Securities | 7,393,262 | 2.1 | ||||||||||||||||
17,250,281 | 4.9 | ||||||||||||||||||
Chile: 0.3% | |||||||||||||||||||
50,200 | Other Securities | 985,426 | 0.3 | ||||||||||||||||
China: 5.1% | |||||||||||||||||||
274,900 | #,@ | CITIC Securities Co. Ltd. | 547,762 | 0.1 | |||||||||||||||
1,811,065 | CNOOC Ltd. | 3,423,564 | 1.0 | ||||||||||||||||
7,185,584 | Other Securities | 13,931,871 | 4.0 | ||||||||||||||||
17,903,197 | 5.1 | ||||||||||||||||||
Denmark: 1.3% | |||||||||||||||||||
36,650 | Novo-Nordisk A/S | 3,891,000 | 1.1 | ||||||||||||||||
33,665 | Other Securities | 674,448 | 0.2 | ||||||||||||||||
4,565,448 | 1.3 | ||||||||||||||||||
Finland: 0.4% | |||||||||||||||||||
31,379 | Other Securities | 1,437,273 | 0.4 | ||||||||||||||||
France: 9.8% | |||||||||||||||||||
27,300 | Air Liquide | 3,524,904 | 1.0 | ||||||||||||||||
38,844 | Cie Generale D’Optique Essilor International S.A. | 2,807,420 | 0.8 | ||||||||||||||||
65,924 | Groupe Danone | 4,570,042 | 1.3 | ||||||||||||||||
26,900 | LVMH Moet Hennessy Louis Vuitton S.A. | 4,458,517 | 1.3 | ||||||||||||||||
39,774 | Pernod-Ricard S.A. | 3,701,152 | 1.1 | ||||||||||||||||
14,911 | Unibail | 2,964,447 | 0.9 | ||||||||||||||||
238,347 | Other Securities | 12,032,777 | 3.4 | ||||||||||||||||
34,059,259 | 9.8 | ||||||||||||||||||
Germany: 8.3% | |||||||||||||||||||
55,817 | Adidas AG | 3,931,012 | 1.1 | ||||||||||||||||
39,019 | @ | Continental AG | 2,909,572 | 0.8 | |||||||||||||||
50,711 | Fresenius Medical Care AG & Co. KGaA | 3,694,080 | 1.1 | ||||||||||||||||
348,524 | Infineon Technologies AG | 3,137,836 | 0.9 | ||||||||||||||||
COMMON STOCK: (continued) | |||||||||||||||||||
Germany: (continued) | |||||||||||||||||||
108,520 | SAP AG | $ | 6,561,981 | 1.9 | |||||||||||||||
34,880 | Siemens AG | 3,656,153 | 1.0 | ||||||||||||||||
69,743 | Other Securities | 5,245,336 | 1.5 | ||||||||||||||||
29,135,970 | 8.3 | ||||||||||||||||||
Hong Kong: 2.2% | |||||||||||||||||||
1,238,000 | AIA Group Ltd. | 3,785,481 | 1.1 | ||||||||||||||||
187,500 | Hong Kong Exchanges and Clearing Ltd. | 3,178,481 | 0.9 | ||||||||||||||||
344,000 | Other Securities | 690,934 | 0.2 | ||||||||||||||||
7,654,896 | 2.2 | ||||||||||||||||||
Ireland: 1.2% | |||||||||||||||||||
163,313 | CRH PLC | 2,954,757 | 0.8 | ||||||||||||||||
105,400 | Other Securities | 1,263,746 | 0.4 | ||||||||||||||||
4,218,503 | 1.2 | ||||||||||||||||||
Israel: 2.0% | |||||||||||||||||||
121,623 | Teva Pharmaceutical Industries Ltd. ADR | 4,968,299 | 1.4 | ||||||||||||||||
32,000 | Other Securities | 1,844,160 | 0.6 | ||||||||||||||||
6,812,459 | 2.0 | ||||||||||||||||||
Italy: 0.8% | |||||||||||||||||||
532,922 | Other Securities | 2,605,014 | 0.8 | ||||||||||||||||
Japan: 10.5% | |||||||||||||||||||
141,230 | Komatsu Ltd. | 3,491,885 | 1.0 | ||||||||||||||||
1,118,600 | Mitsubishi UFJ Financial Group, Inc. | 4,861,366 | 1.4 | ||||||||||||||||
96,300 | Toyota Motor Corp. | 3,197,235 | 0.9 | ||||||||||||||||
591,275 | Other Securities | 25,233,306 | 7.2 | ||||||||||||||||
36,783,792 | 10.5 | ||||||||||||||||||
Malaysia: 0.1% | |||||||||||||||||||
355,000 | Other Securities | 446,134 | 0.1 | ||||||||||||||||
Mexico: 0.7% | |||||||||||||||||||
963,395 | Other Securities | 2,486,740 | 0.7 | ||||||||||||||||
Netherlands: 0.9% | |||||||||||||||||||
95,626 | Other Securities | 3,204,714 | 0.9 | ||||||||||||||||
Norway: 0.3% | |||||||||||||||||||
64,028 | Other Securities | 1,140,514 | 0.3 | ||||||||||||||||
Singapore: 0.2% | |||||||||||||||||||
64,000 | Other Securities | 593,009 | 0.2 | ||||||||||||||||
South Africa: 0.1% | |||||||||||||||||||
21,643 | Other Securities | 316,849 | 0.1 | ||||||||||||||||
South Korea: 3.2% | |||||||||||||||||||
18,446 | Hyundai Motor Co. | 3,714,811 | 1.1 | ||||||||||||||||
4,751 | Samsung Electronics Co., Ltd. | 4,089,952 | 1.2 | ||||||||||||||||
116,260 | Other Securities | 3,287,453 | 0.9 | ||||||||||||||||
11,092,216 | 3.2 |
AS OF OCTOBER 31, 2011 (CONTINUED)
Shares | | | | Value | | Percentage of Net Assets | |||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
COMMON STOCK: (continued) | |||||||||||||||||||
Spain: 1.0% | |||||||||||||||||||
158,011 | Telefonica S.A. | $ | 3,357,989 | 1.0 | |||||||||||||||
Sweden: 1.5% | |||||||||||||||||||
102,093 | Hennes & Mauritz AB | 3,375,639 | 1.0 | ||||||||||||||||
77,441 | Other Securities | 1,880,651 | 0.5 | ||||||||||||||||
5,256,290 | 1.5 | ||||||||||||||||||
Switzerland: 9.3% | |||||||||||||||||||
70,900 | Nestle S.A. | 4,100,693 | 1.2 | ||||||||||||||||
70,608 | Novartis AG | 3,977,721 | 1.1 | ||||||||||||||||
26,666 | Roche Holding AG —Genusschein | 4,375,075 | 1.3 | ||||||||||||||||
50,842 | Swiss Re Ltd. | 2,775,897 | 0.8 | ||||||||||||||||
620,881 | Other Securities | 17,261,086 | 4.9 | ||||||||||||||||
32,490,472 | 9.3 | ||||||||||||||||||
Taiwan: 1.5% | |||||||||||||||||||
126,154 | HTC Corp. | 2,835,128 | 0.8 | ||||||||||||||||
1,241,220 | Other Securities | 2,501,417 | 0.7 | ||||||||||||||||
5,336,545 | 1.5 | ||||||||||||||||||
Turkey: 0.4% | |||||||||||||||||||
438,394 | Other Securities | 1,538,136 | 0.4 | ||||||||||||||||
United Kingdom: 21.0% | |||||||||||||||||||
70,263 | AstraZeneca PLC | 3,373,264 | 1.0 | ||||||||||||||||
342,325 | BG Group PLC | 7,422,970 | 2.1 | ||||||||||||||||
391,548 | BP PLC | 2,881,333 | 0.8 | ||||||||||||||||
128,843 | British American Tobacco PLC | 5,907,485 | 1.7 | ||||||||||||||||
90,117 | Carnival PLC | 3,297,329 | 1.0 | ||||||||||||||||
129,347 | Imperial Tobacco Group PLC | 4,711,705 | 1.4 | ||||||||||||||||
700,831 | Kingfisher PLC | 2,903,605 | 0.8 | ||||||||||||||||
480,143 | National Grid PLC | 4,773,595 | 1.4 | ||||||||||||||||
71,029 | Reckitt Benckiser PLC | 3,645,894 | 1.0 | ||||||||||||||||
397,151 | Rolls-Royce Holdings PLC | 4,470,512 | 1.3 | ||||||||||||||||
225,484 | Standard Chartered PLC | 5,261,511 | 1.5 | ||||||||||||||||
982,695 | Tesco PLC | 6,335,835 | 1.8 | ||||||||||||||||
2,285,695 | Vodafone Group PLC | 6,346,649 | 1.8 | ||||||||||||||||
28,191,832 | Other Securities | 12,003,081 | 3.4 | ||||||||||||||||
73,334,768 | 21.0 | ||||||||||||||||||
United States: 2.1% | |||||||||||||||||||
50,621 | Schlumberger Ltd. | 3,719,125 | 1.1 | ||||||||||||||||
88,152 | Other Securities | 3,568,183 | 1.0 | ||||||||||||||||
7,287,308 | 2.1 | ||||||||||||||||||
Total Common Stock | |||||||||||||||||||
(Cost $352,612,136) | 331,774,938 | 94.9 | |||||||||||||||||
PREFERRED STOCK: 1.0% | |||||||||||||||||||
Germany: 1.0% | |||||||||||||||||||
20,800 | Volkswagen AG | 3,622,314 | 1.0 | ||||||||||||||||
Total Preferred Stock | |||||||||||||||||||
(Cost $3,503,971) | 3,622,314 | 1.0 | |||||||||||||||||
WARRANTS: 0.3% | |||||||||||||||||||
Telecommunications: 0.3% | |||||||||||||||||||
107,481 | Other Securities | $ | 863,825 | 0.3 | |||||||||||||||
Total Warrants | |||||||||||||||||||
(Cost $824,306) | 863,825 | 0.3 | |||||||||||||||||
Total Long-Term Investments | |||||||||||||||||||
(Cost $356,940,413) | 336,261,077 | 96.2 | |||||||||||||||||
SHORT-TERM INVESTMENTS: 5.9% | |||||||||||||||||||
Mutual Funds: 5.9% | |||||||||||||||||||
20,626,938 | BlackRock Liquidity Funds, TempFund, Institutional Class (Cost $20,626,938) | 20,626,938 | 5.9 | ||||||||||||||||
Total Short-Term Investments | |||||||||||||||||||
(Cost $20,626,938) | 20,626,938 | 5.9 | |||||||||||||||||
Total Investments in Securities (Cost $377,567,351) | $ | 356,888,015 | 102.1 | ||||||||||||||||
Liabilities in Excess of Other Assets | (7,274,562 | ) | (2.1 | ) | |||||||||||||||
Net Assets | $ | 349,613,453 | 100.0 |
# | Securities with purchases pursuant to Rule 144A or section 4(2), under the Securities Act of 1933 and may not be resold subject to that rule except to qualified institutional buyers. |
@ | Non-income producing security |
ADR | American Depository Receipt |
Cost for federal income tax purposes is $381,953,632. |
Net unrealized depreciation consists of: | ||||||
Gross Unrealized Appreciation | $ | 7,030,902 | ||||
Gross Unrealized Depreciation | (32,096,519 | ) | ||||
Net Unrealized depreciation | $ | (25,065,617 | ) |
Sector Diversification | Percentage of Net Assets | |||||
---|---|---|---|---|---|---|
Consumer Discretionary | 13.9 | % | ||||
Consumer Staples | 13.1 | |||||
Energy | 9.5 | |||||
Financials | 16.5 | |||||
Health Care | 10.0 | |||||
Industrials | 12.3 | |||||
Information Technology | 8.8 | |||||
Materials | 6.2 | |||||
Telecommunications | 4.2 | |||||
Utilities | 1.7 | |||||
Short-Term Investments | 5.9 | |||||
Liabilities in Excess of Other Assets | (2.1 | ) | ||||
Net Assets | 100.0 | % |
AS OF OCTOBER 31, 2011 (CONTINUED)
Quoted Prices in Active Markets for Identical Investments (Level 1) | Significant Other Observable Inputs# (Level 2) | Significant Unobservable Inputs (Level 3) | Fair Value at 10/31/2011 | |||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Asset Table | ||||||||||||||||||
Investments, at value | ||||||||||||||||||
Common Stock | ||||||||||||||||||
Australia | $ | — | $ | 3,533,340 | $ | — | $ | 3,533,340 | ||||||||||
Belgium | — | 1,502,917 | — | 1,502,917 | ||||||||||||||
Brazil | 14,474,183 | 971,296 | — | 15,445,479 | ||||||||||||||
Canada | 17,250,281 | — | — | 17,250,281 | ||||||||||||||
Chile | 985,426 | — | — | 985,426 | ||||||||||||||
China | 547,762 | 17,355,435 | — | 17,903,197 | ||||||||||||||
Denmark | — | 4,565,448 | — | 4,565,448 | ||||||||||||||
Finland | — | 1,437,273 | — | 1,437,273 | ||||||||||||||
France | — | 34,059,259 | — | 34,059,259 | ||||||||||||||
Germany | — | 29,135,970 | — | 29,135,970 | ||||||||||||||
Hong Kong | — | 7,654,896 | — | 7,654,896 | ||||||||||||||
Ireland | 1,263,746 | 2,954,757 | — | 4,218,503 | ||||||||||||||
Israel | 6,812,459 | — | — | 6,812,459 | ||||||||||||||
Italy | — | 2,605,014 | — | 2,605,014 | ||||||||||||||
Japan | — | 36,783,792 | — | 36,783,792 | ||||||||||||||
Malaysia | — | 446,134 | — | 446,134 | ||||||||||||||
Mexico | 2,486,740 | — | — | 2,486,740 | ||||||||||||||
Netherlands | 2,233,701 | 971,013 | — | 3,204,714 | ||||||||||||||
Norway | — | 1,140,514 | — | 1,140,514 | ||||||||||||||
Singapore | — | 593,009 | — | 593,009 | ||||||||||||||
South Africa | — | 316,849 | — | 316,849 | ||||||||||||||
South Korea | — | 11,092,216 | — | 11,092,216 | ||||||||||||||
Spain | — | 3,357,989 | — | 3,357,989 | ||||||||||||||
Sweden | — | 5,256,290 | — | 5,256,290 | ||||||||||||||
Switzerland | — | 32,490,472 | — | 32,490,472 | ||||||||||||||
Taiwan | — | 5,336,545 | — | 5,336,545 | ||||||||||||||
Turkey | — | 1,538,136 | — | 1,538,136 | ||||||||||||||
United Kingdom | 2,304,224 | 70,986,858 | 43,686 | 73,334,768 | ||||||||||||||
United States | 7,287,308 | — | — | 7,287,308 | ||||||||||||||
Total Common Stock | 55,645,830 | 276,085,422 | 43,686 | 331,774,938 | ||||||||||||||
Preferred Stock | — | 3,622,314 | — | 3,622,314 | ||||||||||||||
Warrants | — | 863,825 | — | 863,825 | ||||||||||||||
Short-Term Investments | 20,626,938 | — | — | 20,626,938 | ||||||||||||||
Total Investments, at value | $ | 76,272,768 | $ | 280,571,561 | $ | 43,686 | $ | 356,888,015 | ||||||||||
Other Financial Instruments+ | ||||||||||||||||||
Forward Foreign Currency Contracts | — | 288,355 | — | 288,355 | ||||||||||||||
Total Assets | $ | 76,272,768 | $ | 280,859,916 | $ | 43,686 | $ | 357,176,370 |
ˆ | See Note 2, “Significant Accounting Policies” in the Notes to Financial Statements for additional information. |
+ | Other Financial Instruments are derivatives not reflected in the Portfolio of Investments and may include open forward foreign currency contracts, equity forwards, futures, swaps, and written options. Forward foreign currency contracts, equity forwards and futures are valued at the unrealized gain (loss) on the instrument. Swaps and written options are valued at the fair value of the instrument. |
# | The earlier close of the foreign markets gives rise to the possibility that significant events, including broad market moves, may have occurred in the interim and may materially affect the value of those securities. To account for this, the Portfolio may frequently value many of its foreign equity securities using fair value prices based on third party vendor modeling tools to the extent available. Accordingly, a significant portion of the Portfolio’s investments are categorized as Level 2 investments. |
AS OF OCTOBER 31, 2011 (CONTINUED)
Beginning Balance 10/31/2010 | Purchases | Sales | Accrued Discounts/ (Premiums) | Total Realized Gain/(Loss) | Total Unrealized Appreciation/ (Depreciation) | Transfers Into Level 3 | Transfers Out of Level 3 | Ending Balance 10/31/2011 | ||||||||||||||||||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Asset Table | ||||||||||||||||||||||||||||||||||||||
Investments, at value | ||||||||||||||||||||||||||||||||||||||
Common Stock | $ | — | $ | 44,057 | $ | — | $ | — | $ | — | $ | (371 | ) | $ | — | $ | — | $ | 43,686 | |||||||||||||||||||
Total Investments, at value | $ | — | $ | 44,057 | $ | — | $ | — | $ | — | $ | (371 | ) | $ | — | $ | — | $ | 43,686 |
Counterparty | Currency | Contract Amount | Buy/Sell | Settlement Date | In Exchange For | Fair Value | Unrealized Appreciation (Depreciation) | |||||||||||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
State Street Bank | EU Euro | 936,900 | Sell | 11/09/11 | $ | 1,322,687 | $ | 1,296,275 | $ | 26,412 | ||||||||||||||||||||
State Street Bank | EU Euro | 2,620,100 | Sell | 11/09/11 | 3,763,643 | 3,625,117 | 138,526 | |||||||||||||||||||||||
State Street Bank | EU Euro | 2,441,800 | Sell | 11/09/11 | 3,499,392 | 3,378,424 | 120,968 | |||||||||||||||||||||||
UBS Warburg LLC | Australian Dollar | 172,202 | Sell | 11/03/11 | 183,866 | 181,417 | 2,449 | |||||||||||||||||||||||
$ | 288,355 |
Derivatives not accounted for as hedging instruments | Location on Statement of Assets and Liabilities | Fair Value | ||||||||
---|---|---|---|---|---|---|---|---|---|---|
Asset Derivatives | ||||||||||
Foreign exchange contracts | Unrealized appreciation on forward foreign currency contracts | $ | 288,355 | |||||||
Total Asset Derivatives | $ | 288,355 |
Amount of Realized Gain or (Loss) on Derivatives Recognized in Income | ||||||
---|---|---|---|---|---|---|
Derivatives not accounted for as hedging instruments | Foreign currency related transactions* | |||||
Foreign exchange contracts | $ | (1,972,528 | ) | |||
Total | $ | (1,972,528 | ) |
Change in Unrealized Appreciation or (Depreciation) on Derivatives Recognized in Income | ||||||
---|---|---|---|---|---|---|
Derivatives not accounted for as hedging instruments | Foreign currency related transactions* | |||||
Foreign exchange contracts | $ | 288,355 | ||||
Total | $ | 288,355 |
* | Amounts recognized for forward foreign currency contracts are included in net realized gain (loss) on foreign currency related transactions and net change in unrealized appreciation or depreciation on foreign currency related transactions. |
AS OF OCTOBER 31, 2011
Shares | | | | Value | | Percentage of Net Assets | |||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
COMMON STOCK: 99.1% | |||||||||||||||||||
Australia: 4.7% | |||||||||||||||||||
149,673 | Brambles Ltd. | $ | 1,034,675 | 0.7 | |||||||||||||||
31,828 | Cochlear Ltd. | 1,954,247 | 1.3 | ||||||||||||||||
145,652 | L | Seek Ltd. | 944,276 | 0.6 | |||||||||||||||
776,977 | Other Securities | 3,171,098 | 2.1 | ||||||||||||||||
7,104,296 | 4.7 | ||||||||||||||||||
Belgium: 1.9% | |||||||||||||||||||
15,823 | Groupe Bruxelles Lambert S.A. | 1,216,260 | 0.8 | ||||||||||||||||
33,984 | Other Securities | 1,610,687 | 1.1 | ||||||||||||||||
2,826,947 | 1.9 | ||||||||||||||||||
Brazil: 3.9% | |||||||||||||||||||
98,900 | Itau Unibanco Holding SA ADR | 1,890,968 | 1.2 | ||||||||||||||||
53,900 | Petroleo Brasileiro SA ADR | 1,363,131 | 0.9 | ||||||||||||||||
321,300 | Other Securities | 2,646,630 | 1.8 | ||||||||||||||||
5,900,729 | 3.9 | ||||||||||||||||||
Canada: 1.5% | |||||||||||||||||||
53,600 | Other Securities | 2,244,085 | 1.5 | ||||||||||||||||
China: 4.8% | |||||||||||||||||||
4,025,612 | Other Securities | 7,260,829 | 4.8 | ||||||||||||||||
Denmark: 3.8% | |||||||||||||||||||
34,608 | Carlsberg A/S | 2,342,972 | 1.6 | ||||||||||||||||
14,579 | Novo-Nordisk A/S | 1,547,801 | 1.0 | ||||||||||||||||
6,760 | Novozymes A/S | 1,003,874 | 0.7 | ||||||||||||||||
27,936 | Other Securities | 811,995 | 0.5 | ||||||||||||||||
5,706,642 | 3.8 | ||||||||||||||||||
Finland: 1.1% | |||||||||||||||||||
22,121 | Kone OYJ | 1,217,911 | 0.8 | ||||||||||||||||
72,307 | Other Securities | 486,567 | 0.3 | ||||||||||||||||
1,704,478 | 1.1 | ||||||||||||||||||
France: 5.0% | |||||||||||||||||||
11,018 | BioMerieux | 956,031 | 0.6 | ||||||||||||||||
22,465 | Total S.A. | 1,172,162 | 0.8 | ||||||||||||||||
133,401 | Other Securities | 5,409,079 | 3.6 | ||||||||||||||||
7,537,272 | 5.0 | ||||||||||||||||||
Germany: 3.3% | |||||||||||||||||||
14,686 | Adidas AG | 1,034,288 | 0.7 | ||||||||||||||||
85,554 | Other Securities | 3,900,277 | 2.6 | ||||||||||||||||
4,934,565 | 3.3 | ||||||||||||||||||
Hong Kong: 3.9% | |||||||||||||||||||
274,000 | Hang Lung Properties Ltd. | 997,858 | 0.7 | ||||||||||||||||
1,014,000 | Li & Fung Ltd. | 1,954,175 | 1.3 | ||||||||||||||||
921,700 | Other Securities | 2,827,740 | 1.9 | ||||||||||||||||
5,779,773 | 3.9 | ||||||||||||||||||
India: 2.3% | |||||||||||||||||||
56,149 | Mahindra & Mahindra Ltd. GDR | 994,837 | 0.7 | ||||||||||||||||
COMMON STOCK: (continued) | |||||||||||||||||||
India: (continued) | |||||||||||||||||||
11,052 | # | Reliance Industries Ltd. GDR | $ | 399,575 | 0.3 | ||||||||||||||
400,211 | Other Securities | 1,992,730 | 1.3 | ||||||||||||||||
3,387,142 | 2.3 | ||||||||||||||||||
Indonesia: 0.3% | |||||||||||||||||||
538,338 | Other Securities | 494,543 | 0.3 | ||||||||||||||||
Ireland: 0.4% | |||||||||||||||||||
9,600 | Other Securities | 578,496 | 0.4 | ||||||||||||||||
Israel: 0.5% | |||||||||||||||||||
122,943 | Other Securities | 751,182 | 0.5 | ||||||||||||||||
Italy: 0.3% | |||||||||||||||||||
186,621 | Other Securities | 499,290 | 0.3 | ||||||||||||||||
Japan: 12.9% | |||||||||||||||||||
61,300 | Asahi Group Holdings, Ltd | 1,254,875 | 0.8 | ||||||||||||||||
215 | Inpex Holdings, Inc. | 1,419,448 | 0.9 | ||||||||||||||||
54,200 | Kao Corp. | 1,421,903 | 0.9 | ||||||||||||||||
108,600 | Namco Bandai Holdings, Inc. | 1,574,656 | 1.1 | ||||||||||||||||
907 | Rakuten, Inc. | 994,286 | 0.7 | ||||||||||||||||
20,500 | Sankyo Co., Ltd. | 1,071,265 | 0.7 | ||||||||||||||||
58,500 | THK Co., Ltd. | 1,140,106 | 0.8 | ||||||||||||||||
373,024 | Other Securities | 10,487,623 | 7.0 | ||||||||||||||||
19,364,162 | 12.9 | ||||||||||||||||||
Kazakhstan: 0.5% | |||||||||||||||||||
47,750 | Other Securities | 811,828 | 0.5 | ||||||||||||||||
Mexico: 0.3% | |||||||||||||||||||
15,006 | Other Securities | 406,827 | 0.3 | ||||||||||||||||
Netherlands: 1.6% | |||||||||||||||||||
32,424 | Royal Dutch Shell PLC — Class B | 1,163,312 | 0.8 | ||||||||||||||||
59,087 | Other Securities | 1,200,090 | 0.8 | ||||||||||||||||
2,363,402 | 1.6 | ||||||||||||||||||
Norway: 0.8% | |||||||||||||||||||
42,390 | Other Securities | 1,213,811 | 0.8 | ||||||||||||||||
Portugal: 0.3% | |||||||||||||||||||
26,542 | Other Securities | 455,138 | 0.3 | ||||||||||||||||
Russia: 0.1% | |||||||||||||||||||
8,537 | Other Securities | 216,997 | 0.1 | ||||||||||||||||
Singapore: 1.3% | |||||||||||||||||||
102,775 | United Overseas Bank Ltd. | 1,393,890 | 0.9 | ||||||||||||||||
61,000 | Other Securities | 595,834 | 0.4 | ||||||||||||||||
1,989,724 | 1.3 | ||||||||||||||||||
South Africa: 0.6% | |||||||||||||||||||
157,002 | Other Securities | 820,338 | 0.6 |
AS OF OCTOBER 31, 2011 (CONTINUED)
Shares | | | | Value | | Percentage of Net Assets | |||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
COMMON STOCK: (continued) | |||||||||||||||||||
South Korea: 1.6% | |||||||||||||||||||
4,306 | Samsung Electronics Co., Ltd. GDR | $ | 1,845,543 | 1.2 | |||||||||||||||
2,244 | Other Securities | 551,068 | 0.4 | ||||||||||||||||
2,396,611 | 1.6 | ||||||||||||||||||
Spain: 2.0% | |||||||||||||||||||
19,881 | Corporacion Financiera Alba SA | 968,061 | 0.7 | ||||||||||||||||
205,700 | @ | Distribuidora Internacional de Alimentacion SA | 940,693 | 0.6 | |||||||||||||||
82,026 | Other Securities | 1,021,431 | 0.7 | ||||||||||||||||
2,930,185 | 2.0 | ||||||||||||||||||
Sweden: 4.4% | |||||||||||||||||||
105,277 | Atlas Copco AB — Class B | 2,045,789 | 1.4 | ||||||||||||||||
59,002 | Scania AB — B Shares | 990,050 | 0.6 | ||||||||||||||||
71,929 | Svenska Handelsbanken AB | 2,065,835 | 1.4 | ||||||||||||||||
73,600 | Other Securities | 1,551,008 | 1.0 | ||||||||||||||||
6,652,682 | 4.4 | ||||||||||||||||||
Switzerland: 9.1% | |||||||||||||||||||
5,220 | Geberit AG — Reg | 1,069,043 | 0.7 | ||||||||||||||||
6,932 | @ | Mettler Toledo International, Inc. | 1,064,755 | 0.7 | |||||||||||||||
47,358 | Nestle S.A. | 2,739,078 | 1.8 | ||||||||||||||||
15,913 | Roche Holding AG —Genusschein | 2,610,836 | 1.8 | ||||||||||||||||
10,543 | Schindler Holding AG | 1,234,636 | 0.8 | ||||||||||||||||
159,687 | Other Securities | 4,949,750 | 3.3 | ||||||||||||||||
13,668,098 | 9.1 | ||||||||||||||||||
Taiwan: 1.4% | |||||||||||||||||||
409,690 | Other Securities | 2,138,158 | 1.4 | ||||||||||||||||
Turkey: 0.9% | |||||||||||||||||||
365,076 | Turkiye Garanti Bankasi A/S | 1,280,895 | 0.9 | ||||||||||||||||
United Arab Emirates: 0.2% | |||||||||||||||||||
25,722 | Other Securities | 279,840 | 0.2 | ||||||||||||||||
United Kingdom: 21.0% | |||||||||||||||||||
44,633 | @ | ASOS PLC | 1,112,794 | 0.7 | |||||||||||||||
83,656 | BG Group PLC | 1,813,995 | 1.2 | ||||||||||||||||
74,169 | BHP Billiton PLC | 2,335,541 | 1.5 | ||||||||||||||||
36,000 | Imperial Tobacco Group PLC | 1,311,367 | 0.9 | ||||||||||||||||
48,568 | Intertek Group PLC | 1,601,323 | 1.1 | ||||||||||||||||
49,000 | Johnson Matthey PLC | 1,473,867 | 1.0 | ||||||||||||||||
61,756 | Rightmove PLC | 1,292,121 | 0.9 | ||||||||||||||||
74,185 | Standard Chartered PLC | 1,731,055 | 1.1 | ||||||||||||||||
154,913 | Tesco PLC | 998,787 | 0.7 | ||||||||||||||||
54,289 | Unilever PLC | 1,819,774 | 1.2 | ||||||||||||||||
COMMON STOCK: (continued) | |||||||||||||||||||
United Kingdom: (continued) | |||||||||||||||||||
34,000 | Weir Group PLC | $ | 1,041,650 | 0.7 | |||||||||||||||
112,007 | WPP PLC | 1,159,390 | 0.8 | ||||||||||||||||
4,951,235 | Other Securities | 13,872,865 | 9.2 | ||||||||||||||||
31,564,529 | 21.0 | ||||||||||||||||||
United States: 2.4% | |||||||||||||||||||
39,688 | Coca-Cola Enterprises, Inc. | 1,064,432 | 0.7 | ||||||||||||||||
126,297 | Other Securities | 2,495,459 | 1.7 | ||||||||||||||||
3,559,891 | 2.4 | ||||||||||||||||||
Total Common Stock | |||||||||||||||||||
(Cost $162,893,388) | 148,823,385 | 99.1 |
Principal Amount† | | | | Value | | Percentage of Net Assets | |||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
SHORT-TERM INVESTMENTS: 2.1% | |||||||||||||||||||
Securities Lending Collateralcc(1): 1.8% | |||||||||||||||||||
785,702 | Daiwa Capital Markets, Repurchase Agreement dated 10/31/11, 0.12%, due 11/01/11 (Principal Amount $785,702, collateralized by various U.S. Government and U.S. Government Agency Obligations, 0.000%–8.750%, Market Value plus accrued interest $801,406, due 12/22/11–03/01/48) | 785,702 | 0.5 | ||||||||||||||||
1,000,000 | Deutsche Bank AG, Repurchase Agreement dated 10/31/11, 0.12%, due 11/01/11 (Principal Amount $1,000,000, collateralized by various U.S. Government Agency Obligations, 1.750%–7.000%, Market Value plus accrued interest $1,020,000, due 07/01/12–10/01/41) | 1,000,000 | 0.7 | ||||||||||||||||
1,000,000 | UBS Warburg LLC, Repurchase Agreement dated 10/31/11, 0.12%, due 11/01/11 (Principal Amount $1,000,000, collateralized by various U.S. Government Agency Obligations, 2.454%–7.000%, Market Value plus accrued interest $1,020,000, due 04/01/14–07/01/48) | 1,000,000 | 0.6 | ||||||||||||||||
2,785,702 | 1.8 |
AS OF OCTOBER 31, 2011 (CONTINUED)
Shares | | | | Value | | Percentage of Net Assets | |||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
SHORT-TERM INVESTMENTS: (continued) | |||||||||||||||||||
Mutual Funds: 0.3% | |||||||||||||||||||
413,093 | @ | T. Rowe Price Reserve Investment Fund (Cost $413,093) | $ | 413,093 | 0.3 | ||||||||||||||
Total Short-Term Investments | |||||||||||||||||||
(Cost $3,198,795) | 3,198,795 | 2.1 | |||||||||||||||||
Total Investments in Securities (Cost $166,092,183) | $ | 152,022,180 | 101.2 | ||||||||||||||||
Liabilities in Excess of Other Assets | (1,790,474 | ) | (1.2 | ) | |||||||||||||||
Net Assets | $ | 150,231,706 | 100.0 |
† | Unless otherwise indicated, principal amount is shown in USD. |
# | Securities with purchases pursuant to Rule 144A or section 4(2), under the Securities Act of 1933 and may not be resold subject to that rule except to qualified institutional buyers. |
@ | Non-income producing security |
ADR | American Depository Receipt |
GDR | Global Depository Receipt |
cc | Securities purchased with cash collateral for securities loaned. |
L | Loaned security, a portion or all of the security is on loan at October 31, 2011. |
(1) | Collateral received from brokers for securities lending was invested into these short-term investments. |
Cost for federal income tax purposes is $166,202,586. |
Net unrealized depreciation consists of: | ||||||
Gross Unrealized Appreciation | $ | 5,074,782 | ||||
Gross Unrealized Depreciation | (19,255,187 | ) | ||||
Net Unrealized depreciation | $ | (14,180,405 | ) |
Sector Diversification | Percentage of Net Assets | |||||
---|---|---|---|---|---|---|
Consumer Discretionary | 19.3 | % | ||||
Consumer Staples | 13.8 | |||||
Energy | 9.1 | |||||
Financials | 17.7 | |||||
Health Care | 8.7 | |||||
Industrials | 15.6 | |||||
Information Technology | 6.7 | |||||
Materials | 6.8 | |||||
Telecommunications | 1.2 | |||||
Utilities | 0.2 | |||||
Short-Term Investments | 2.1 | |||||
Liabilities in Excess of Other Assets | (1.2 | ) | ||||
Net Assets | 100.0 | % |
Quoted Prices in Active Markets for Identical Investments (Level 1) | Significant Other Observable Inputs# (Level 2) | Significant Unobservable Inputs (Level 3) | Fair Value at 10/31/2011 | |||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Asset Table | ||||||||||||||||||
Investments, at value | ||||||||||||||||||
Common Stock | ||||||||||||||||||
Australia | $ | — | $ | 7,104,296 | $ | — | $ | 7,104,296 | ||||||||||
Belgium | — | 2,826,947 | — | 2,826,947 | ||||||||||||||
Brazil | 4,009,761 | 1,890,968 | — | 5,900,729 | ||||||||||||||
Canada | 2,244,085 | — | — | 2,244,085 | ||||||||||||||
China | 2,697,125 | 4,563,704 | — | 7,260,829 | ||||||||||||||
Denmark | — | 5,706,642 | — | 5,706,642 | ||||||||||||||
Finland | — | 1,704,478 | — | 1,704,478 | ||||||||||||||
France | — | 7,537,272 | — | 7,537,272 | ||||||||||||||
Germany | — | 4,934,565 | — | 4,934,565 | ||||||||||||||
Hong Kong | — | 5,779,773 | — | 5,779,773 | ||||||||||||||
India | 591,759 | 2,795,383 | — | 3,387,142 | ||||||||||||||
Indonesia | 251,777 | 242,766 | — | 494,543 | ||||||||||||||
Ireland | 578,496 | — | — | 578,496 | ||||||||||||||
Israel | 751,182 | — | — | 751,182 | ||||||||||||||
Italy | 262,213 | 237,077 | — | 499,290 | ||||||||||||||
Japan | — | 19,364,162 | — | 19,364,162 | ||||||||||||||
Kazakhstan | — | 811,828 | — | 811,828 | ||||||||||||||
Mexico | — | 406,827 | — | 406,827 | ||||||||||||||
Netherlands | — | 2,363,402 | — | 2,363,402 | ||||||||||||||
Norway | — | 1,213,811 | — | 1,213,811 |
AS OF OCTOBER 31, 2011 (CONTINUED)
Quoted Prices in Active Markets for Identical Investments (Level 1) | Significant Other Observable Inputs# (Level 2) | Significant Unobservable Inputs (Level 3) | Fair Value at 10/31/2011 | |||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Portugal | $ | — | $ | 455,138 | $ | — | $ | 455,138 | ||||||||||
Russia | — | 216,997 | — | 216,997 | ||||||||||||||
Singapore | — | 1,989,724 | — | 1,989,724 | ||||||||||||||
South Africa | — | 820,338 | — | 820,338 | ||||||||||||||
South Korea | — | 2,396,611 | — | 2,396,611 | ||||||||||||||
Spain | 940,693 | 1,989,492 | — | 2,930,185 | ||||||||||||||
Sweden | — | 6,652,682 | — | 6,652,682 | ||||||||||||||
Switzerland | 1,064,755 | 12,603,343 | — | 13,668,098 | ||||||||||||||
Taiwan | 875,828 | 1,262,330 | — | 2,138,158 | ||||||||||||||
Turkey | — | 1,280,895 | — | 1,280,895 | ||||||||||||||
United Arab Emirates | — | 279,840 | — | 279,840 | ||||||||||||||
United Kingdom | — | 31,558,868 | 5,661 | 31,564,529 | ||||||||||||||
United States | 3,559,891 | — | — | 3,559,891 | ||||||||||||||
Total Common Stock | 17,827,565 | 130,990,159 | 5,661 | 148,823,385 | ||||||||||||||
Short-Term Investments | 413,093 | 2,785,702 | — | 3,198,795 | ||||||||||||||
Total Investments, at value | $ | 18,240,658 | $ | 133,775,861 | $ | 5,661 | $ | 152,022,180 | ||||||||||
Liabilities Table | ||||||||||||||||||
Other Financial Instruments+ | ||||||||||||||||||
Forward Foreign Currency Contracts | $ | — | $ | (3,916 | ) | $ | — | $ | (3,916 | ) | ||||||||
Total Liabilities | $ | — | $ | (3,916 | ) | $ | — | $ | (3,916 | ) |
ˆ | See Note 2, “Significant Accounting Policies” in the Notes to Financial Statements for additional information. |
+ | Other Financial Instruments are derivatives not reflected in the Portfolio of Investments and may include open forward foreign currency contracts, equity forwards, futures, swaps, and written options. Forward foreign currency contracts, equity forwards and futures are valued at the unrealized gain (loss) on the instrument. Swaps and written options are valued at the fair value of the instrument. |
# | The earlier close of the foreign markets gives rise to the possibility that significant events, including broad market moves, may have occurred in the interim and may materially affect the value of those securities. To account for this, the Portfolio may frequently value many of its foreign equity securities using fair value prices based on third party vendor modeling tools to the extent available. Accordingly, a significant portion of the Portfolio’s investments are categorized as Level 2 investments. |
Beginning Balance 10/31/2010 | Purchases | Sales | Accrued Discounts/ (Premiums) | Total Realized Gain/(Loss) | Total Unrealized Appreciation/ (Depreciation) | Transfers Into Level 3 | Transfers Out of Level 3 | Ending Balance 10/31/2011 | ||||||||||||||||||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Asset Table | ||||||||||||||||||||||||||||||||||||||
Investments, at value | ||||||||||||||||||||||||||||||||||||||
Common Stock | $ | — | $ | 5,546 | $ | — | $ | — | $ | — | $ | 115 | $ | — | $ | — | $ | 5,661 | ||||||||||||||||||||
Total Investments, at value | $ | — | $ | 5,546 | $ | — | $ | — | $ | — | $ | 115 | $ | — | $ | — | $ | 5,661 |
Counterparty | Currency | Contract Amount | Buy/Sell | Settlement Date | In Exchange For | Fair Value | Unrealized Appreciation (Depreciation) | |||||||||||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
The Bank of New York Mellon Corp. | Australian Dollar | 119,710 | Buy | 11/02/11 | $ | 127,706 | $ | 126,161 | $ | (1,545 | ) | |||||||||||||||||||
The Bank of New York Mellon Corp. | Australian Dollar | 128,261 | Buy | 11/03/11 | 137,496 | 135,125 | (2,371 | ) | ||||||||||||||||||||||
$ | (3,916 | ) |
AS OF OCTOBER 31, 2011 (CONTINUED)
Derivatives not accounted for as hedging instruments | Location on Statement of Assets and Liabilities | Fair Value | ||||||||
---|---|---|---|---|---|---|---|---|---|---|
Liability Derivatives | ||||||||||
Foreign exchange contracts | Unrealized depreciation on forward foreign currency contracts | $ | 3,916 | |||||||
Total Liability Derivatives | $ | 3,916 |
Amount of Realized Gain or (Loss) on Derivatives Recognized in Income | ||||||
---|---|---|---|---|---|---|
Derivatives not accounted for as hedging instruments | Foreign currency related transactions* | |||||
Foreign exchange contracts | $ | 391,343 | ||||
Total | $ | 391,343 |
Change in Unrealized Appreciation or (Depreciation) on Derivatives Recognized in Income | ||||||
---|---|---|---|---|---|---|
Derivatives not accounted for as hedging instruments | Foreign currency related transactions* | |||||
Foreign exchange contracts | $ | (3,916 | ) | |||
Total | $ | (3,916 | ) |
* | Amounts recognized for forward foreign currency contracts are included in net realized gain (loss) on foreign currency related transactions and net change in unrealized appreciation or depreciation on foreign currency related transactions. |
AS OF OCTOBER 31, 2011
Shares | | | | Value | | Percentage of Net Assets | |||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
COMMON STOCK: 99.2% | |||||||||||||||||||
Australia: 17.1% | |||||||||||||||||||
7,164,657 | Dexus Property Group | $ | 6,373,378 | 1.3 | |||||||||||||||
10,710,622 | Goodman Group | 6,960,177 | 1.5 | ||||||||||||||||
2,185,040 | GPT Group | 7,211,258 | 1.5 | ||||||||||||||||
6,019,600 | Investa Office Fund | 3,935,287 | 0.8 | ||||||||||||||||
4,169,417 | Mirvac Group | 5,459,785 | 1.2 | ||||||||||||||||
2,226,900 | Stockland | 7,353,663 | 1.6 | ||||||||||||||||
2,789,676 | Westfield Group | 22,457,889 | 4.7 | ||||||||||||||||
4,503,790 | Westfield Retail Trust | 12,002,544 | 2.5 | ||||||||||||||||
6,093,100 | Other Securities | 9,590,591 | 2.0 | ||||||||||||||||
81,344,572 | 17.1 | ||||||||||||||||||
Austria: 0.8% | |||||||||||||||||||
1,017,518 | Other Securities | 3,805,306 | 0.8 | ||||||||||||||||
Brazil: 0.4% | |||||||||||||||||||
157,200 | Other Securities | 1,784,128 | 0.4 | ||||||||||||||||
Canada: 5.5% | |||||||||||||||||||
618,550 | Brookfield Properties Co. | 10,218,446 | 2.2 | ||||||||||||||||
399,200 | RioCan Real Estate Investment Trust | 10,128,686 | 2.1 | ||||||||||||||||
196,200 | Other Securities | 5,608,717 | 1.2 | ||||||||||||||||
25,955,849 | 5.5 | ||||||||||||||||||
China: 0.6% | |||||||||||||||||||
2,058,000 | Other Securities | 3,001,129 | 0.6 | ||||||||||||||||
Finland: 0.3% | |||||||||||||||||||
372,810 | Other Securities | 1,373,004 | 0.3 | ||||||||||||||||
France: 7.4% | |||||||||||||||||||
54,555 | ICADE | 4,882,540 | 1.0 | ||||||||||||||||
108,809 | Unibail | 21,632,251 | 4.6 | ||||||||||||||||
187,194 | Other Securities | 8,383,810 | 1.8 | ||||||||||||||||
34,898,601 | 7.4 | ||||||||||||||||||
Germany: 1.2% | |||||||||||||||||||
100,540 | @ | GSW Immobilien AG | 3,266,444 | 0.7 | |||||||||||||||
252,200 | Other Securities | 2,273,755 | 0.5 | ||||||||||||||||
5,540,199 | 1.2 | ||||||||||||||||||
Hong Kong: 19.6% | |||||||||||||||||||
1,756,965 | Cheung Kong Holdings Ltd. | 21,779,217 | 4.6 | ||||||||||||||||
3,744,895 | Hang Lung Properties Ltd. | 13,638,219 | 2.9 | ||||||||||||||||
1,275,694 | Hongkong Land Holdings Ltd. | 6,703,819 | 1.4 | ||||||||||||||||
1,324,600 | Kerry Properties Ltd. | 4,861,190 | 1.0 | ||||||||||||||||
2,979,400 | Link Real Estate Investment Trust | 10,231,979 | 2.2 | ||||||||||||||||
2,522,000 | Sino Land Co. | 3,986,619 | 0.8 | ||||||||||||||||
1,702,800 | Sun Hung Kai Properties Ltd. | 23,445,476 | 4.9 | ||||||||||||||||
1,294,285 | Wharf Holdings Ltd. | 6,884,621 | 1.5 | ||||||||||||||||
COMMON STOCK: (continued) | |||||||||||||||||||
Hong Kong: (continued) | |||||||||||||||||||
250,000 | Other Securities | $ | 1,366,507 | 0.3 | |||||||||||||||
92,897,647 | 19.6 | ||||||||||||||||||
Italy: 0.1% | |||||||||||||||||||
1,179,920 | Other Securities | 709,088 | 0.1 | ||||||||||||||||
Japan: 22.7% | |||||||||||||||||||
3,200 | Advance Residence Investment Corp. | 6,062,123 | 1.3 | ||||||||||||||||
167,600 | Aeon Mall Co., Ltd. | 3,885,645 | 0.8 | ||||||||||||||||
112,600 | Daito Trust Construction Co., Ltd. | 9,976,423 | 2.1 | ||||||||||||||||
388 | Frontier Real Estate Investment Corp. | 3,364,561 | 0.7 | ||||||||||||||||
2,873 | Japan Retail Fund Investment Corp. | 4,447,327 | 0.9 | ||||||||||||||||
1,369 | Kenedix Realty Investment Corp. | 3,969,924 | 0.8 | ||||||||||||||||
1,595,400 | Mitsubishi Estate Co., Ltd. | 27,021,354 | 5.7 | ||||||||||||||||
1,218,477 | Mitsui Fudosan Co., Ltd. | 20,263,622 | 4.3 | ||||||||||||||||
878 | Nippon Building Fund, Inc. | 8,478,590 | 1.8 | ||||||||||||||||
250,000 | Nomura Real Estate Holdings, Inc. | 4,030,155 | 0.9 | ||||||||||||||||
252,100 | Sumitomo Realty & Development Co., Ltd. | 5,225,309 | 1.1 | ||||||||||||||||
4,123 | United Urban Investment Corp. | 4,649,267 | 1.0 | ||||||||||||||||
829 | Other Securities | 6,393,323 | 1.3 | ||||||||||||||||
107,767,623 | 22.7 | ||||||||||||||||||
Netherlands: 1.4% | |||||||||||||||||||
121,110 | Corio NV | 6,154,611 | 1.3 | ||||||||||||||||
17,170 | Other Securities | 732,328 | 0.1 | ||||||||||||||||
6,886,939 | 1.4 | ||||||||||||||||||
Singapore: 8.7% | |||||||||||||||||||
2,527,000 | Ascendas Real Estate Investment Trust | 4,111,289 | 0.9 | ||||||||||||||||
4,444,900 | CapitaCommercial Trust | 3,970,725 | 0.8 | ||||||||||||||||
5,188,400 | CapitaLand Ltd. | 11,178,128 | 2.4 | ||||||||||||||||
3,936,583 | CapitaMall Trust | 5,848,888 | 1.2 | ||||||||||||||||
3,555,100 | @ | Global Logistic Properties Ltd. | 4,949,876 | 1.0 | |||||||||||||||
4,793,000 | Mapletree Commercial Trust | 3,309,355 | 0.7 | ||||||||||||||||
3,451,400 | Mapletree Industrial Trust | 3,174,529 | 0.7 | ||||||||||||||||
2,571,900 | Other Securities | 4,823,042 | 1.0 | ||||||||||||||||
41,365,832 | 8.7 | ||||||||||||||||||
Sweden: 1.8% | |||||||||||||||||||
212,316 | Castellum AB | 2,874,304 | 0.6 | ||||||||||||||||
270,173 | Hufvudstaden AB | 2,931,103 | 0.6 | ||||||||||||||||
232,200 | Other Securities | 2,591,207 | 0.6 | ||||||||||||||||
8,396,614 | 1.8 | ||||||||||||||||||
AS OF OCTOBER 31, 2011 (CONTINUED)
Shares | | | | Value | | Percentage of Net Assets | |||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
COMMON STOCK: (continued) | |||||||||||||||||||
Switzerland: 1.9% | |||||||||||||||||||
54,340 | PSP Swiss Property AG | $ | 4,943,864 | 1.0 | |||||||||||||||
50,919 | Swiss Prime Site AG | 4,164,399 | 0.9 | ||||||||||||||||
9,108,263 | 1.9 | ||||||||||||||||||
United Kingdom: 9.7% | |||||||||||||||||||
650,430 | British Land Co. PLC | 5,321,243 | 1.1 | ||||||||||||||||
663,960 | Great Portland Estates PLC | 3,969,195 | 0.8 | ||||||||||||||||
1,309,251 | Hammerson PLC | 8,553,466 | 1.8 | ||||||||||||||||
928,181 | Land Securities Group PLC | 10,158,380 | 2.2 | ||||||||||||||||
2,443,730 | @ | LXB Retail Properties PLC | 3,968,561 | 0.8 | |||||||||||||||
4,734,203 | Other Securities | 14,076,732 | 3.0 | ||||||||||||||||
46,047,577 | 9.7 | ||||||||||||||||||
Total Common Stock | |||||||||||||||||||
(Cost $418,617,759) | 470,882,371 | 99.2 | |||||||||||||||||
Assets in Excess of Other Liabilities | 3,777,816 | 0.8 | |||||||||||||||||
Net Assets | $ | 474,660,187 | 100.0 |
@ | Non-income producing security |
Cost for federal income tax purposes is $483,876,310. |
Net unrealized depreciation consists of: | ||||||
Gross Unrealized Appreciation | $ | 41,540,132 | ||||
Gross Unrealized Depreciation | (54,534,071 | ) | ||||
Net Unrealized depreciation | $ | (12,993,939 | ) |
Sector Diversification | Percentage of Net Assets | |||||
---|---|---|---|---|---|---|
Financials | 99.2 | % | ||||
Assets in Excess of Other Liabilities | 0.8 | |||||
Net Assets | 100.0 | % |
Quoted Prices in Active Markets for Identical Investments (Level 1) | Significant Other Observable Inputs# (Level 2) | Significant Unobservable Inputs (Level 3) | Fair Value at 10/31/2011 | |||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Asset Table | ||||||||||||||||||
Investments, at value | ||||||||||||||||||
Common Stock | ||||||||||||||||||
Australia | $ | — | $ | 81,344,572 | $ | — | $ | 81,344,572 | ||||||||||
Austria | — | 3,805,306 | — | 3,805,306 | ||||||||||||||
Brazil | 1,784,128 | — | — | 1,784,128 | ||||||||||||||
Canada | 25,955,849 | — | — | 25,955,849 | ||||||||||||||
China | — | 3,001,129 | — | 3,001,129 | ||||||||||||||
Finland | — | 1,373,004 | — | 1,373,004 | ||||||||||||||
France | — | 34,898,601 | — | 34,898,601 | ||||||||||||||
Germany | 1,174,067 | 4,366,132 | — | 5,540,199 | ||||||||||||||
Hong Kong | — | 92,897,647 | — | 92,897,647 | ||||||||||||||
Italy | — | 709,088 | — | 709,088 | ||||||||||||||
Japan | — | 107,767,623 | — | 107,767,623 | ||||||||||||||
Netherlands | — | 6,886,939 | — | 6,886,939 | ||||||||||||||
Singapore | — | 41,365,832 | — | 41,365,832 | ||||||||||||||
Sweden | — | 8,396,614 | — | 8,396,614 | ||||||||||||||
Switzerland | — | 9,108,263 | — | 9,108,263 | ||||||||||||||
United Kingdom | 6,951,591 | 39,095,986 | — | 46,047,577 | ||||||||||||||
Total Common Stock | 35,865,635 | 435,016,736 | — | 470,882,371 | ||||||||||||||
Total Investments, at value | $ | 35,865,635 | $ | 435,016,736 | $ | — | $ | 470,882,371 |
ˆ | See Note 2, “Significant Accounting Policies” in the Notes to Financial Statements for additional information. |
# | The earlier close of the foreign markets gives rise to the possibility that significant events, including broad market moves, may have occurred in the interim and may materially affect the value of those securities. To account for this, the Portfolio may frequently value many of its foreign equity securities using fair value prices based on third party vendor modeling tools to the extent available. Accordingly, a significant portion of the Portfolio’s investments are categorized as Level 2 investments. |
AS OF OCTOBER 31, 2011
SMALLCAP MULTI-MANAGER FUND
Shares | | | | Value | | Percentage of Net Assets | |||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
COMMON STOCK: 97.8% | |||||||||||||||||||
Australia: 7.6% | |||||||||||||||||||
230,335 | Amcor Ltd. | $ | 1,685,180 | 0.6 | |||||||||||||||
129,811 | Ansell Ltd. | 1,898,643 | 0.6 | ||||||||||||||||
131,080 | Caltex Australia Ltd. | 1,820,429 | 0.6 | ||||||||||||||||
204,672 | Computershare Ltd. | 1,617,506 | 0.5 | ||||||||||||||||
603,376 | Myer Holdings Ltd. | 1,646,826 | 0.5 | ||||||||||||||||
12,366,138 | Other Securities | 14,623,431 | 4.8 | ||||||||||||||||
23,292,015 | 7.6 | ||||||||||||||||||
Austria: 1.4% | |||||||||||||||||||
20,000 | Kapsch TrafficCom AG | 1,498,561 | 0.5 | ||||||||||||||||
14,000 | Mayr Melnhof Karton AG | 1,296,045 | 0.4 | ||||||||||||||||
36,825 | Other Securities | 1,368,635 | 0.5 | ||||||||||||||||
4,163,241 | 1.4 | ||||||||||||||||||
Belgium: 1.3% | |||||||||||||||||||
41,799 | Tessenderlo Chemie NV | 1,296,947 | 0.4 | ||||||||||||||||
406,341 | Other Securities | 2,804,416 | 0.9 | ||||||||||||||||
4,101,363 | 1.3 | ||||||||||||||||||
Bermuda: 0.0% | |||||||||||||||||||
6,361 | Other Securities | 46,372 | 0.0 | ||||||||||||||||
Brazil: 0.8% | |||||||||||||||||||
253,718 | Other Securities | 2,329,650 | 0.8 | ||||||||||||||||
Canada: 3.8% | |||||||||||||||||||
997,391 | Other Securities | 11,805,104 | 3.8 | ||||||||||||||||
China: 2.9% | |||||||||||||||||||
25,955,138 | Other Securities | 8,872,734 | 2.9 | ||||||||||||||||
Denmark: 1.2% | |||||||||||||||||||
147,437 | Other Securities | 3,615,415 | 1.2 | ||||||||||||||||
Egypt: 0.0% | |||||||||||||||||||
11,431 | Other Securities | 31,376 | 0.0 | ||||||||||||||||
Finland: 0.1% | |||||||||||||||||||
35,701 | Other Securities | 182,371 | 0.1 | ||||||||||||||||
France: 4.6% | |||||||||||||||||||
25,082 | Arkema | 1,704,550 | 0.6 | ||||||||||||||||
45,000 | Bourbon SA | 1,249,027 | 0.4 | ||||||||||||||||
170,000 | Groupe Eurotunnel S.A. | 1,531,349 | 0.5 | ||||||||||||||||
61,611 | Peugeot S.A. | 1,340,551 | �� | 0.4 | |||||||||||||||
52,143 | Rallye SA | 1,667,155 | 0.5 | ||||||||||||||||
426,570 | Other Securities | 6,681,383 | 2.2 | ||||||||||||||||
14,174,015 | 4.6 | ||||||||||||||||||
Germany: 7.6% | |||||||||||||||||||
36,174 | Aurubis AG | 2,040,985 | 0.7 | ||||||||||||||||
50,653 | Bechtle AG | 1,889,616 | 0.6 | ||||||||||||||||
16,000 | Bilfinger Berger AG | 1,428,138 | 0.5 | ||||||||||||||||
18,414 | Draegerwerk AG & Co. KGaA | 1,929,103 | 0.6 | ||||||||||||||||
190,000 | Freenet AG | 2,449,443 | 0.8 | ||||||||||||||||
COMMON STOCK: (continued) | |||||||||||||||||||
Germany: (continued) | |||||||||||||||||||
34,000 | Rheinmetall AG | $ | 1,803,151 | 0.6 | |||||||||||||||
679,253 | Other Securities | 11,881,664 | 3.8 | ||||||||||||||||
23,422,100 | 7.6 | ||||||||||||||||||
Guernsey: 0.0% | |||||||||||||||||||
5,369 | Other Securities | 35,167 | 0.0 | ||||||||||||||||
Hong Kong: 3.5% | |||||||||||||||||||
5,538,000 | EVA Precision Industrial Holdings Ltd. | 1,430,195 | 0.4 | ||||||||||||||||
827,500 | Ports Design Ltd. | 1,475,570 | 0.5 | ||||||||||||||||
49,474,046 | Other Securities | 7,919,485 | 2.6 | ||||||||||||||||
10,825,250 | 3.5 | ||||||||||||||||||
India: 0.8% | |||||||||||||||||||
960,111 | Other Securities | 2,542,877 | 0.8 | ||||||||||||||||
Indonesia: 0.5% | |||||||||||||||||||
25,421,348 | Other Securities | 1,421,515 | 0.5 | ||||||||||||||||
Ireland: 0.9% | |||||||||||||||||||
592,309 | Other Securities | 2,822,060 | 0.9 | ||||||||||||||||
Israel: 0.3% | |||||||||||||||||||
191,087 | Other Securities | 914,330 | 0.3 | ||||||||||||||||
Italy: 2.6% | |||||||||||||||||||
203,333 | Azimut Holding S.p.A. | 1,584,938 | 0.5 | ||||||||||||||||
1,123,379 | Other Securities | 6,518,285 | 2.1 | ||||||||||||||||
8,103,223 | 2.6 | ||||||||||||||||||
Japan: 19.7% | |||||||||||||||||||
353,000 | JFE Shoji Holdings, Inc. | 1,431,932 | 0.5 | ||||||||||||||||
1,566,000 | @ | Kanematsu Corp. | 1,320,403 | 0.4 | |||||||||||||||
85,600 | Modec, Inc. | 1,494,347 | 0.5 | ||||||||||||||||
55,800 | Musashi Seimitsu Industry Co., Ltd. | 1,319,082 | 0.4 | ||||||||||||||||
161,000 | Nippo Corp. | 1,417,895 | 0.5 | ||||||||||||||||
51,534 | Unipres Corp. | 1,405,682 | 0.4 | ||||||||||||||||
1,049,000 | Yuasa Trading Co., Ltd. | 1,465,738 | 0.5 | ||||||||||||||||
8,672,991 | Other Securities | 50,786,470 | 16.5 | ||||||||||||||||
60,641,549 | 19.7 | ||||||||||||||||||
Malaysia: 0.7% | |||||||||||||||||||
2,623,072 | Other Securities | 2,082,108 | 0.7 | ||||||||||||||||
Mexico: 0.0% | |||||||||||||||||||
129,700 | Other Securities | 130,847 | 0.0 | ||||||||||||||||
Netherlands: 2.7% | |||||||||||||||||||
115,000 | Delta Lloyd NV | 2,019,341 | 0.7 | ||||||||||||||||
23,000 | Fugro NV | 1,350,795 | 0.4 | ||||||||||||||||
69,500 | Imtech NV | 2,053,158 | 0.7 | ||||||||||||||||
39,500 | Ten Cate NV | 1,356,003 | 0.4 | ||||||||||||||||
504,676 | Other Securities | 1,569,943 | 0.5 | ||||||||||||||||
8,349,240 | 2.7 | ||||||||||||||||||
AS OF OCTOBER 31, 2011 (CONTINUED)
SMALLCAP MULTI-MANAGER FUND
Shares | | | | Value | | Percentage of Net Assets | |||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
COMMON STOCK: (continued) | |||||||||||||||||||
New Zealand: 0.7% | |||||||||||||||||||
84,353 | Fletcher Building Ltd. | $ | 450,736 | 0.1 | |||||||||||||||
328,324 | Fletcher Building Ltd. | 1,750,768 | 0.6 | ||||||||||||||||
2,201,504 | 0.7 | ||||||||||||||||||
Norway: 1.2% | |||||||||||||||||||
1,365,134 | Other Securities | 3,800,033 | 1.2 | ||||||||||||||||
Pakistan: 0.1% | |||||||||||||||||||
1,375,131 | Other Securities | 173,572 | 0.1 | ||||||||||||||||
Philippines: 0.1% | |||||||||||||||||||
9,190 | Other Securities | 194,648 | 0.1 | ||||||||||||||||
Poland: 0.1% | |||||||||||||||||||
160,702 | Other Securities | 277,180 | 0.1 | ||||||||||||||||
Portugal: 0.0% | |||||||||||||||||||
9,504 | Other Securities | 71,549 | 0.0 | ||||||||||||||||
Russia: 0.2% | |||||||||||||||||||
120,000 | Other Securities | 577,291 | 0.2 | ||||||||||||||||
Singapore: 3.8% | |||||||||||||||||||
2,027,000 | @ | Biosensors International Group Ltd. | 2,259,624 | 0.8 | |||||||||||||||
1,183,000 | First Resources Ltd. | 1,324,501 | 0.4 | ||||||||||||||||
239,618 | @ | Flextronics International Ltd. | 1,573,092 | 0.5 | |||||||||||||||
10,025,176 | Other Securities | 6,494,535 | 2.1 | ||||||||||||||||
11,651,752 | 3.8 | ||||||||||||||||||
South Africa: 0.1% | |||||||||||||||||||
78,314 | Other Securities | 301,084 | 0.1 | ||||||||||||||||
South Korea: 3.7% | |||||||||||||||||||
43,010 | Hankook Tire Co. Ltd | 1,716,707 | 0.6 | ||||||||||||||||
7,920 | Mando Corp. | 1,356,547 | 0.4 | ||||||||||||||||
27,051 | SeAH Steel Corp. | 2,001,605 | 0.6 | ||||||||||||||||
550,101 | Other Securities | 6,396,450 | 2.1 | ||||||||||||||||
11,471,309 | 3.7 | ||||||||||||||||||
Spain: 0.3% | |||||||||||||||||||
47,490 | Other Securities | 769,348 | 0.3 | ||||||||||||||||
Sweden: 1.4% | |||||||||||||||||||
893,894 | Other Securities | 4,319,554 | 1.4 | ||||||||||||||||
Switzerland: 3.6% | |||||||||||||||||||
3,834 | Forbo Holding AG | 1,811,858 | 0.6 | ||||||||||||||||
40,000 | @ | Gategroup Holding AG | 1,357,721 | 0.4 | |||||||||||||||
4,430 | Helvetia Holding AG | 1,618,633 | 0.5 | ||||||||||||||||
7,057 | Valora Holding AG | 1,465,643 | 0.5 | ||||||||||||||||
125,520 | Other Securities | 4,846,201 | 1.6 | ||||||||||||||||
11,100,056 | 3.6 | ||||||||||||||||||
COMMON STOCK: (continued) | |||||||||||||||||||
Taiwan: 1.2% | |||||||||||||||||||
9,207,544 | Other Securities | $ | 3,671,796 | 1.2 | |||||||||||||||
Thailand: 0.8% | |||||||||||||||||||
10,401,100 | Other Securities | 2,489,764 | 0.8 | ||||||||||||||||
Turkey: 0.1% | |||||||||||||||||||
282,648 | Other Securities | 423,734 | 0.1 | ||||||||||||||||
United Arab Emirates: 0.3% | |||||||||||||||||||
200,000 | Other Securities | 775,296 | 0.3 | ||||||||||||||||
United Kingdom: 16.7% | |||||||||||||||||||
169,079 | Davis Service Group PLC | 1,259,706 | 0.4 | ||||||||||||||||
70,000 | DCC Group PLC | 1,965,023 | 0.6 | ||||||||||||||||
302,895 | Drax Group PLC | 2,636,716 | 0.9 | ||||||||||||||||
254,900 | Investec PLC | 1,543,969 | 0.5 | ||||||||||||||||
60,000 | Kier Group PLC | 1,353,368 | 0.5 | ||||||||||||||||
662,839 | Senior Plc | 1,767,361 | 0.6 | ||||||||||||||||
27,206,911 | Other Securities | 40,732,478 | 13.2 | ||||||||||||||||
51,258,621 | 16.7 | ||||||||||||||||||
United States: 0.4% | |||||||||||||||||||
467,291 | Other Securities | 1,338,955 | 0.4 | ||||||||||||||||
Total Common Stock | |||||||||||||||||||
(Cost $297,895,322) | 300,770,968 | 97.8 | |||||||||||||||||
RIGHTS: 0.0% | |||||||||||||||||||
Hong Kong: 0.0% | |||||||||||||||||||
37,500 | Other Securities | 12,795 | 0.0 | ||||||||||||||||
South Korea: 0.0% | |||||||||||||||||||
1,618 | Other Securities | 5,261 | 0.0 | ||||||||||||||||
Total Rights | |||||||||||||||||||
(Cost $—) | 18,056 | 0.0 | |||||||||||||||||
Total Long-Term Investments | |||||||||||||||||||
(Cost $297,345,334) | 300,789,024 | 97.8 |
Principal Amount† | | | | Value | | Percentage of Net Assets | |||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
SHORT-TERM INVESTMENTS: 0.5% | |||||||||||||||||||
Securities Lending Collateralcc(1): 0.1% | |||||||||||||||||||
285,403 | BNP Paribas Bank, Repurchase Agreement dated 10/31/11, 0.12%, due 11/01/11 (Principal Amount $285,403, collateralized by various U.S. Government Agency Obligations,3.500%–6.500%, Market Value plus accrued interest $291,111, due 07/01/20–11/01/41) (Cost $285,403) | 285,403 | 0.1 |
AS OF OCTOBER 31, 2011 (CONTINUED)
SMALLCAP MULTI-MANAGER FUND
Shares | | | | Value | | Percentage of Net Assets | |||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
SHORT-TERM INVESTMENTS: (continued) | |||||||||||||||||||
Mutual Funds: 0.4% | |||||||||||||||||||
1,305,820 | BlackRock Liquidity Funds, TempFund, Institutional Class (Cost $1,305,820) | $ | 1,305,820 | 0.4 | |||||||||||||||
Total Short-Term Investments | |||||||||||||||||||
(Cost $1,591,223) | 1,591,223 | 0.5 | |||||||||||||||||
Total Investments in Securities (Cost $298,936,557) | $ | 302,380,247 | 98.3 | ||||||||||||||||
Assets in Excess of Other Liabilities | 5,288,720 | 1.7 | |||||||||||||||||
Net Assets | $ | 307,668,967 | 100.0 |
† | Unless otherwise indicated, principal amount is shown in USD. |
@ | Non-income producing security |
cc | Securities purchased with cash collateral for securities loaned. |
(1) | Collateral received from brokers for securities lending was invested into these short-term investments. |
Cost for federal income tax purposes is $300,837,453. |
Net unrealized appreciation consists of: | ||||||
Gross Unrealized Appreciation | $ | 50,894,512 | ||||
Gross Unrealized Depreciation | (49,351,718 | ) | ||||
Net Unrealized appreciation | $ | 1,542,794 |
Sector Diversification | Percentage of Net Assets | |||||
---|---|---|---|---|---|---|
Consumer Discretionary | 18.0 | % | ||||
Consumer Staples | 6.6 | |||||
Energy | 5.2 | |||||
Financials | 11.7 | |||||
Health Care | 5.8 | |||||
Industrials | 24.3 | |||||
Information Technology | 9.1 | |||||
Materials | 13.7 | |||||
Telecommunications | 1.8 | |||||
Utilities | 1.6 | |||||
Short-Term Investments | 0.5 | |||||
Assets in Excess of Other Liabilities | 1.7 | |||||
Net Assets | 100.0 | % |
Quoted Prices in Active Markets for Identical Investments (Level 1) | Significant Other Observable Inputs# (Level 2) | Significant Unobservable Inputs (Level 3) | Fair Value at 10/31/2011 | |||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Asset Table | ||||||||||||||||||
Investments, at value | ||||||||||||||||||
Common Stock | ||||||||||||||||||
Australia | $ | 100,823 | $ | 23,191,192 | $ | — | $ | 23,292,015 | ||||||||||
Austria | — | 4,163,241 | — | 4,163,241 | ||||||||||||||
Belgium | 50 | 4,101,313 | — | 4,101,363 | ||||||||||||||
Bermuda | 46,372 | — | — | 46,372 | ||||||||||||||
Brazil | 2,329,650 | — | — | 2,329,650 | ||||||||||||||
Canada | 11,805,104 | — | — | 11,805,104 | ||||||||||||||
China | 2,544,769 | 6,255,888 | 72,077 | 8,872,734 | ||||||||||||||
Denmark | 810,663 | 2,804,752 | — | 3,615,415 | ||||||||||||||
Egypt | — | 31,376 | — | 31,376 | ||||||||||||||
Finland | — | 182,371 | — | 182,371 | ||||||||||||||
France | 1,027,354 | 13,146,661 | — | 14,174,015 | ||||||||||||||
Germany | 843,568 | 22,578,532 | — | 23,422,100 | ||||||||||||||
Guernsey | 35,167 | — | — | 35,167 | ||||||||||||||
Hong Kong | 27,645 | 10,734,827 | 62,778 | 10,825,250 | ||||||||||||||
India | — | 2,542,877 | — | 2,542,877 | ||||||||||||||
Indonesia | — | 1,421,515 | — | 1,421,515 | ||||||||||||||
Ireland | 1,448,457 | 1,373,603 | — | 2,822,060 | ||||||||||||||
Israel | — | 914,330 | — | 914,330 | ||||||||||||||
Italy | 393,399 | 7,709,824 | — | 8,103,223 | ||||||||||||||
Japan | 18,080 | 60,623,469 | — | 60,641,549 | ||||||||||||||
Malaysia | — | 2,082,108 | — | 2,082,108 | ||||||||||||||
Mexico | 130,847 | — | — | 130,847 | ||||||||||||||
Netherlands | 75,775 | 8,273,465 | — | 8,349,240 | ||||||||||||||
New Zealand | — | 2,201,504 | — | 2,201,504 |
AS OF OCTOBER 31, 2011 (CONTINUED)
SMALLCAP MULTI-MANAGER FUND
Quoted Prices in Active Markets for Identical Investments (Level 1) | Significant Other Observable Inputs# (Level 2) | Significant Unobservable Inputs (Level 3) | Fair Value at 10/31/2011 | |||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Norway | $ | 605,448 | $ | 3,194,585 | $ | — | $ | 3,800,033 | ||||||||||
Pakistan | — | 173,572 | — | 173,572 | ||||||||||||||
Philippines | — | 194,648 | — | 194,648 | ||||||||||||||
Poland | — | 277,180 | — | 277,180 | ||||||||||||||
Portugal | — | 71,549 | — | 71,549 | ||||||||||||||
Russia | — | 577,291 | — | 577,291 | ||||||||||||||
Singapore | 1,616,672 | 10,035,080 | — | 11,651,752 | ||||||||||||||
South Africa | — | 301,084 | — | 301,084 | ||||||||||||||
South Korea | 106,553 | 11,321,181 | 43,575 | 11,471,309 | ||||||||||||||
Spain | — | 769,348 | — | 769,348 | ||||||||||||||
Sweden | — | 4,319,554 | — | 4,319,554 | ||||||||||||||
Switzerland | 1,122,842 | 9,977,214 | — | 11,100,056 | ||||||||||||||
Taiwan | 92,275 | 3,579,521 | — | 3,671,796 | ||||||||||||||
Thailand | — | 2,489,764 | — | 2,489,764 | ||||||||||||||
Turkey | — | 423,734 | — | 423,734 | ||||||||||||||
United Arab Emirates | — | 775,296 | — | 775,296 | ||||||||||||||
United Kingdom | 3,514,712 | 47,743,909 | — | 51,258,621 | ||||||||||||||
United States | 1,338,955 | — | — | 1,338,955 | ||||||||||||||
Total Common Stock | 30,035,180 | 270,557,358 | 178,430 | 300,770,968 | ||||||||||||||
Rights | — | 18,056 | — | 18,056 | ||||||||||||||
Short-Term Investments | 1,305,820 | 285,403 | — | 1,591,223 | ||||||||||||||
Total Investments, at value | $ | 31,341,000 | $ | 270,860,317 | $ | 178,430 | $ | 302,380,247 | ||||||||||
Other Financial Instruments+ | ||||||||||||||||||
Forward Foreign Currency Contracts | — | 1,870 | — | 1,870 | ||||||||||||||
Total Assets | $ | 31,341,000 | $ | 270,862,687 | $ | 178,430 | $ | 302,382,117 | ||||||||||
Liabilities Table | ||||||||||||||||||
Other Financial Instruments+ | ||||||||||||||||||
Forward Foreign Currency Contracts | $ | — | $ | (13,635 | ) | $ | — | $ | (13,635 | ) | ||||||||
Total Liabilities | $ | — | $ | (13,635 | ) | $ | — | $ | (13,635 | ) | ||||||||
ˆ | See Note 2, “Significant Accounting Policies” in the Notes to Financial Statements for additional information. |
+ | Other Financial Instruments are derivatives not reflected in the Portfolio of Investments and may include open forward foreign currency contracts, equity forwards, futures, swaps, and written options. Forward foreign currency contracts, equity forwards and futures are valued at the unrealized gain (loss) on the instrument. Swaps and written options are valued at the fair value of the instrument. |
# | The earlier close of the foreign markets gives rise to the possibility that significant events, including broad market moves, may have occurred in the interim and may materially affect the value of those securities. To account for this, the Portfolio may frequently value many of its foreign equity securities using fair value prices based on third party vendor modeling tools to the extent available. Accordingly, a significant portion of the Portfolio’s investments are categorized as Level 2 investments. |
Beginning Balance 10/31/2010 | Purchases | Sales | Accrued Discounts/ (Premiums) | Total Realized Gain/(Loss) | Total Unrealized Appreciation/ (Depreciation) | Transfers Into Level 3 | Transfers Out of Level 3 | Ending Balance 10/31/2011 | ||||||||||||||||||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Asset Table | ||||||||||||||||||||||||||||||||||||||
Investments, at value | ||||||||||||||||||||||||||||||||||||||
Common Stock | $ | 46,547 | $ | 1,261,533 | $ | — | $ | — | $ | — | $ | (1,198,860 | ) | $ | 69,210 | $ | — | $ | 178,430 | |||||||||||||||||||
Short-Term Investments | 63,757 | — | (63,757 | ) | — | (15,939 | ) | 15,939 | — | — | — | |||||||||||||||||||||||||||
Total Investments, at value | $ | 110,304 | $ | 1,261,533 | $ | (63,757 | ) | $ | — | $ | (15,939 | ) | $ | (1,182,921 | ) | $ | 69,210 | $ | — | $ | 178,430 |
AS OF OCTOBER 31, 2011 (CONTINUED)
SMALLCAP MULTI-MANAGER FUND
Counterparty | Currency | Contract Amount | Buy/Sell | Settlement Date | In Exchange For | Fair Value | Unrealized Appreciation (Depreciation) | |||||||||||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
The Bank of New York Mellon Corp. | Australian Dollar | 620,821 | Buy | 11/03/11 | $ | 665,856 | $ | 654,043 | $ | (11,813 | ) | |||||||||||||||||||
Brown Brothers Harriman | Polish Zloty | 152,793 | Buy | 11/03/11 | 49,843 | 48,021 | (1,822 | ) | ||||||||||||||||||||||
$ | (13,635 | ) | ||||||||||||||||||||||||||||
Brown Brothers Harriman | EU Euro | 58,255 | Sell | 11/03/11 | $ | 82,475 | $ | 80,605 | $ | 1,870 | ||||||||||||||||||||
$ | 1,870 |
Derivatives not accounted for as hedging instruments | Location on Statement of Assets and Liabilities | Fair Value | ||||||||
---|---|---|---|---|---|---|---|---|---|---|
Asset Derivatives | ||||||||||
Foreign exchange contracts | Unrealized appreciation on forward foreign currency contracts | $ | 1,870 | |||||||
Total Asset Derivatives | $ | 1,870 | ||||||||
Liability Derivatives | ||||||||||
Foreign exchange contracts | Unrealized depreciation on forward foreign currency contracts | $ | 13,635 | |||||||
Total Liability Derivatives | $ | 13,635 |
Amount of Realized Gain or (Loss) on Derivatives Recognized in Income | ||||||
---|---|---|---|---|---|---|
Derivatives not accounted for as hedging instruments | Foreign currency related transactions* | |||||
Foreign exchange contracts | $ | (171,337 | ) | |||
Total | $ | (171,337 | ) |
Change in Unrealized Appreciation or (Depreciation) on Derivatives Recognized in Income | ||||||
---|---|---|---|---|---|---|
Derivatives not accounted for as hedging instruments | Foreign currency related transactions* | |||||
Foreign exchange contracts | $ | (11,765 | ) | |||
Total | $ | (11,765 | ) |
* | Amounts recognized for forward foreign currency contracts are included in net realized gain (loss) on foreign currency related transactions and net change in unrealized appreciation or depreciation on foreign currency related transactions. |
AS OF OCTOBER 31, 2011
VALUE CHOICE FUND
Shares | | | | Value | | Percentage of Net Assets | |||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
COMMON STOCK: 98.6% | |||||||||||||||||||
Australia: 3.2% | |||||||||||||||||||
232,116 | Alumina Ltd. | $ | 353,584 | 1.2 | |||||||||||||||
17,235 | Newcrest Mining Ltd. | 609,114 | 2.0 | ||||||||||||||||
962,698 | 3.2 | ||||||||||||||||||
Belgium: 2.0% | |||||||||||||||||||
19,325 | Belgacom S.A. | 584,365 | 2.0 | ||||||||||||||||
Brazil: 1.7% | |||||||||||||||||||
36,147 | Centrais Eletricas Brasileiras SA ADR | 504,251 | 1.7 | ||||||||||||||||
Canada: 13.1% | |||||||||||||||||||
21,599 | Barrick Gold Corp. | 1,069,151 | 3.6 | ||||||||||||||||
37,347 | Cameco Corp. | 800,346 | 2.7 | ||||||||||||||||
48,934 | Kinross Gold Corp. | 702,203 | 2.3 | ||||||||||||||||
39,049 | Nexen, Inc. | 663,052 | 2.2 | ||||||||||||||||
6,593 | Niko Resources | 362,673 | 1.2 | ||||||||||||||||
22,225 | Talisman Energy, Inc. | 315,595 | 1.1 | ||||||||||||||||
3,913,020 | 13.1 | ||||||||||||||||||
Finland: 2.4% | |||||||||||||||||||
104,439 | Nokia OYJ ADR | 702,874 | 2.4 | ||||||||||||||||
France: 11.1% | |||||||||||||||||||
8,470 | Alstom | 315,406 | 1.1 | ||||||||||||||||
23,225 | Carrefour S.A. | 614,487 | 2.1 | ||||||||||||||||
15,000 | Electricite de France SA | 448,914 | 1.5 | ||||||||||||||||
12,227 | Sanofi-Aventis | 874,708 | 2.9 | ||||||||||||||||
17,387 | Thales S.A. | 613,190 | 2.0 | ||||||||||||||||
15,822 | Other Securities | 459,108 | 1.5 | ||||||||||||||||
3,325,813 | 11.1 | ||||||||||||||||||
Germany: 3.4% | |||||||||||||||||||
4,622 | Allianz AG | 514,254 | 1.7 | ||||||||||||||||
4,676 | Siemens AG | 490,142 | 1.7 | ||||||||||||||||
1,004,396 | 3.4 | ||||||||||||||||||
Indonesia: 1.0% | |||||||||||||||||||
8,941 | Telekomunikasi Indonesia Tbk PT ADR | 302,206 | 1.0 | ||||||||||||||||
Italy: 2.5% | |||||||||||||||||||
722,344 | Telecom Italia S.p.A. RNC | 758,069 | 2.5 | ||||||||||||||||
Japan: 30.5% | |||||||||||||||||||
108,390 | Chuo Mitsui Trust Holdings, Inc. | 370,924 | 1.3 | ||||||||||||||||
29,800 | Coca-Cola West Co., Ltd. | 532,195 | 1.8 | ||||||||||||||||
74,000 | Dai Nippon Printing Co., Ltd. | 775,108 | 2.6 | ||||||||||||||||
22,300 | Fuji Photo Film Co., Ltd. | 545,775 | 1.8 | ||||||||||||||||
49,000 | Japan Steel Works Ltd. | 335,798 | 1.1 | ||||||||||||||||
12,800 | Mabuchi Motor Co., Ltd. | 561,007 | 1.9 | ||||||||||||||||
33,500 | Mitsui Sumitomo Insurance Group Holdings, Inc. | 656,143 | 2.2 | ||||||||||||||||
COMMON STOCK: (continued) | |||||||||||||||||||
Japan: (continued) | |||||||||||||||||||
2,800 | Nintendo Co., Ltd. | $ | 422,438 | 1.4 | |||||||||||||||
36,950 | Nippon Telegraph & Telephone Corp. ADR | 947,768 | 3.2 | ||||||||||||||||
30,700 | Panasonic Corp. | 310,349 | 1.0 | ||||||||||||||||
8,400 | Rohm Co., Ltd. | 427,992 | 1.4 | ||||||||||||||||
7,800 | Sankyo Co., Ltd. | 407,603 | 1.4 | ||||||||||||||||
46,000 | Sekisui House Ltd. | 411,776 | 1.4 | ||||||||||||||||
18,000 | Seven & I Holdings Co., Ltd. | 480,343 | 1.6 | ||||||||||||||||
30,000 | Shiseido Co., Ltd. | 549,101 | 1.8 | ||||||||||||||||
6,410 | Toyota Motor Corp. ADR | 427,611 | 1.4 | ||||||||||||||||
36,000 | Wacoal Holdings Corp. | 425,289 | 1.4 | ||||||||||||||||
20,300 | Other Securities | 543,488 | 1.8 | ||||||||||||||||
9,130,708 | 30.5 | ||||||||||||||||||
Netherlands: 3.2% | |||||||||||||||||||
59,301 | TNT Express NV | 503,143 | 1.7 | ||||||||||||||||
25,683 | Wolters Kluwer NV | 453,175 | 1.5 | ||||||||||||||||
956,318 | 3.2 | ||||||||||||||||||
Norway: 0.9% | |||||||||||||||||||
623,957 | Other Securities | 278,093 | 0.9 | ||||||||||||||||
Russia: 1.9% | |||||||||||||||||||
48,101 | Gazprom OAO ADR | 561,339 | 1.9 | ||||||||||||||||
South Africa: 4.6% | |||||||||||||||||||
16,892 | AngloGold Ashanti Ltd ADR | 763,687 | 2.5 | ||||||||||||||||
35,536 | Gold Fields Ltd. | 615,995 | 2.1 | ||||||||||||||||
1,379,682 | 4.6 | ||||||||||||||||||
South Korea: 4.6% | |||||||||||||||||||
49,218 | Korea Electric Power Corp. ADR | 542,875 | 1.8 | ||||||||||||||||
57,022 | SK Telecom Co., Ltd. ADR | 843,355 | 2.8 | ||||||||||||||||
1,386,230 | 4.6 | ||||||||||||||||||
Switzerland: 1.5% | |||||||||||||||||||
36,000 | @ | UBS AG | 454,320 | 1.5 | |||||||||||||||
United Kingdom: 9.2% | |||||||||||||||||||
16,331 | AstraZeneca PLC | 784,037 | 2.6 | ||||||||||||||||
34,859 | GlaxoSmithKline PLC | 782,317 | 2.6 | ||||||||||||||||
92,452 | @ | Polyus Gold International Ltd. GDR | 303,520 | 1.0 | |||||||||||||||
226,352 | Vodafone Group PLC | 628,507 | 2.1 | ||||||||||||||||
156,749 | Other Securities | 252,933 | 0.9 | ||||||||||||||||
2,751,314 | 9.2 | ||||||||||||||||||
United States: 1.8% | |||||||||||||||||||
16,974 | Axis Capital Holdings Ltd. | 532,135 | 1.8 | ||||||||||||||||
Total Common Stock | |||||||||||||||||||
(Cost $30,719,750) | 29,487,831 | 98.6 |
AS OF OCTOBER 31, 2011 (CONTINUED)
VALUE CHOICE FUND
Shares | | | | Value | | Percentage of Net Assets | |||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
SHORT-TERM INVESTMENTS: 1.2% | |||||||||||||||||||
Mutual Funds: 1.2% | |||||||||||||||||||
370,028 | BlackRock Liquidity Funds, TempFund, Institutional Class (Cost $370,028) | $ | 370,028 | 1.2 | |||||||||||||||
Total Short-Term Investments | |||||||||||||||||||
(Cost $370,028) | 370,028 | 1.2 | |||||||||||||||||
Total Investments in Securities (Cost $31,089,778) | $ | 29,857,859 | 99.8 | ||||||||||||||||
Assets in Excess of Other Liabilities | 64,926 | 0.2 | |||||||||||||||||
Net Assets | $ | 29,922,785 | 100.0 |
@ | Non-income producing security |
ADR | American Depository Receipt |
GDR | Global Depository Receipt |
Cost for federal income tax purposes is $32,305,312. |
Net unrealized depreciation consists of: | ||||||
Gross Unrealized Appreciation | $ | 2,604,859 | ||||
Gross Unrealized Depreciation | (5,052,312 | ) | ||||
Net Unrealized depreciation | $ | (2,447,453 | ) |
Sector Diversification | Percentage of Net Assets | |||||
---|---|---|---|---|---|---|
Consumer Discretionary | 9.0 | % | ||||
Consumer Staples | 8.2 | |||||
Energy | 10.0 | |||||
Financials | 9.1 | |||||
Health Care | 9.0 | |||||
Industrials | 13.0 | |||||
Information Technology | 7.0 | |||||
Materials | 14.7 | |||||
Telecommunications | 13.6 | |||||
Utilities | 5.0 | |||||
Short-Term Investments | 1.2 | |||||
Assets in Excess of Other Liabilities | 0.2 | |||||
Net Assets | 100.0 | % |
Quoted Prices in Active Markets for Identical Investments (Level 1) | Significant Other Observable Inputs# (Level 2) | Significant Unobservable Inputs (Level 3) | Fair Value at 10/31/2011 | |||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Asset Table | ||||||||||||||||||
Investments, at value | ||||||||||||||||||
Common Stock | ||||||||||||||||||
Australia | $ | — | $ | 962,698 | $ | — | $ | 962,698 | ||||||||||
Belgium | — | 584,365 | — | 584,365 | ||||||||||||||
Brazil | 504,251 | — | — | 504,251 | ||||||||||||||
Canada | 3,913,020 | — | — | 3,913,020 | ||||||||||||||
Finland | 702,874 | — | — | 702,874 | ||||||||||||||
France | — | 3,325,813 | — | 3,325,813 | ||||||||||||||
Germany | — | 1,004,396 | — | 1,004,396 | ||||||||||||||
Indonesia | 302,206 | — | — | 302,206 | ||||||||||||||
Italy | — | 758,069 | — | 758,069 | ||||||||||||||
Japan | 1,375,379 | 7,755,329 | — | 9,130,708 | ||||||||||||||
Netherlands | — | 956,318 | — | 956,318 | ||||||||||||||
Norway | — | 278,093 | — | 278,093 | ||||||||||||||
Russia | 561,339 | — | — | 561,339 | ||||||||||||||
South Africa | 763,687 | 615,995 | — | 1,379,682 | ||||||||||||||
South Korea | 1,386,230 | — | — | 1,386,230 | ||||||||||||||
Switzerland | 454,320 | — | — | 454,320 | ||||||||||||||
United Kingdom | 303,520 | 2,447,794 | — | 2,751,314 | ||||||||||||||
United States | 532,135 | — | — | 532,135 | ||||||||||||||
Total Common Stock | 10,798,961 | 18,688,870 | — | 29,487,831 | ||||||||||||||
Short-Term Investments | 370,028 | — | — | 370,028 | ||||||||||||||
Total Investments, at value | $ | 11,168,989 | $ | 18,688,870 | $ | — | $ | 29,857,859 |
ˆ | See Note 2, “Significant Accounting Policies” in the Notes to Financial Statements for additional information. |
AS OF OCTOBER 31, 2011 (CONTINUED)
VALUE CHOICE FUND
# | The earlier close of the foreign markets gives rise to the possibility that significant events, including broad market moves, may have occurred in the interim and may materially affect the value of those securities. To account for this, the Portfolio may frequently value many of its foreign equity securities using fair value prices based on third party vendor modeling tools to the extent available. Accordingly, a significant portion of the Portfolio’s investments are categorized as Level 2 investments. |
AS OF OCTOBER 31, 2011
Shares | | | | Value | | Percentage of Net Assets | |||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
COMMON STOCK: 100.7% | |||||||||||||||||||
Australia: 1.3% | |||||||||||||||||||
192,758 | National Australia Bank Ltd. | $ | 5,148,437 | 0.7 | |||||||||||||||
163,217 | Other Securities | 3,787,641 | 0.6 | ||||||||||||||||
8,936,078 | 1.3 | ||||||||||||||||||
Belgium: 0.7% | |||||||||||||||||||
155,829 | Other Securities | 4,712,084 | 0.7 | ||||||||||||||||
Brazil: 2.4% | |||||||||||||||||||
333,792 | Banco do Brasil S.A. | 5,093,835 | 0.7 | ||||||||||||||||
672,633 | Other Securities | 11,683,703 | 1.7 | ||||||||||||||||
16,777,538 | 2.4 | ||||||||||||||||||
Canada: 3.1% | |||||||||||||||||||
175,500 | Barrick Gold Corp. | 8,687,250 | 1.2 | ||||||||||||||||
454,900 | Other Securities | 13,146,476 | 1.9 | ||||||||||||||||
21,833,726 | 3.1 | ||||||||||||||||||
China: 1.8% | |||||||||||||||||||
13,346,000 | Huaneng Power International, Inc. | 6,035,932 | 0.9 | ||||||||||||||||
5,356,000 | Other Securities | 6,372,987 | 0.9 | ||||||||||||||||
12,408,919 | 1.8 | ||||||||||||||||||
Finland: 1.9% | |||||||||||||||||||
854,449 | Nokia OYJ | 5,749,743 | 0.8 | ||||||||||||||||
676,532 | Other Securities | 7,905,163 | 1.1 | ||||||||||||||||
13,654,906 | 1.9 | ||||||||||||||||||
France: 9.9% | |||||||||||||||||||
154,276 | Accor S.A. | 5,042,352 | 0.7 | ||||||||||||||||
75,271 | Cie Generale des Etablissements Michelin | 5,450,389 | 0.8 | ||||||||||||||||
339,035 | France Telecom S.A. | 6,095,452 | 0.9 | ||||||||||||||||
228,904 | Sanofi-Aventis | 16,375,571 | 2.3 | ||||||||||||||||
251,363 | Total S.A. | 13,115,429 | 1.9 | ||||||||||||||||
2,355,736 | Other Securities | 23,390,113 | 3.3 | ||||||||||||||||
69,469,306 | 9.9 | ||||||||||||||||||
Germany: 8.2% | |||||||||||||||||||
196,888 | Deutsche Bank AG | 8,141,036 | 1.2 | ||||||||||||||||
331,100 | Deutsche Post AG | 5,022,296 | 0.7 | ||||||||||||||||
720,285 | Deutsche Telekom AG | 9,150,597 | 1.3 | ||||||||||||||||
86,081 | SAP AG | 5,205,141 | 0.7 | ||||||||||||||||
94,265 | Siemens AG | 9,880,941 | 1.4 | ||||||||||||||||
455,754 | Other Securities | 20,015,635 | 2.9 | ||||||||||||||||
57,415,646 | 8.2 | ||||||||||||||||||
Hong Kong: 0.6% | |||||||||||||||||||
7,002,000 | Other Securities | 3,890,469 | 0.6 | ||||||||||||||||
Ireland: 0.5% | |||||||||||||||||||
203,218 | Other Securities | 3,676,743 | 0.5 | ||||||||||||||||
Israel: 0.6% | |||||||||||||||||||
101,400 | Other Securities | 4,142,190 | 0.6 | ||||||||||||||||
COMMON STOCK: (continued) | |||||||||||||||||||
Italy: 5.2% | |||||||||||||||||||
548,556 | ENI S.p.A. | $ | 12,125,235 | 1.7 | |||||||||||||||
3,244,737 | Intesa Sanpaolo S.p.A. | 5,726,968 | 0.8 | ||||||||||||||||
11,061,821 | Telecom Italia S.p.A. RNC | 11,608,912 | 1.7 | ||||||||||||||||
1,505,846 | Other Securities | 6,954,744 | 1.0 | ||||||||||||||||
36,415,859 | 5.2 | ||||||||||||||||||
Japan: 23.9% | |||||||||||||||||||
788,000 | Dai Nippon Printing Co., Ltd. | 8,253,851 | 1.2 | ||||||||||||||||
378,900 | Fuji Photo Film Co., Ltd. | 9,273,274 | 1.3 | ||||||||||||||||
1,275,000 | Hitachi Ltd. | 6,831,816 | 1.0 | ||||||||||||||||
1,034 | Inpex Holdings, Inc. | 6,826,552 | 1.0 | ||||||||||||||||
216,700 | Komatsu Ltd. | 5,357,867 | 0.8 | ||||||||||||||||
115,700 | Mabuchi Motor Co., Ltd. | 5,070,976 | 0.7 | ||||||||||||||||
115,600 | Nippon Telegraph & Telephone Corp. | 5,929,799 | 0.8 | ||||||||||||||||
631,300 | Nissan Motor Co., Ltd. | 5,804,645 | 0.8 | ||||||||||||||||
3,093 | NTT DoCoMo, Inc. | 5,493,301 | 0.8 | ||||||||||||||||
127,300 | Rohm Co., Ltd. | 6,486,121 | 0.9 | ||||||||||||||||
514,700 | Seven & I Holdings Co., Ltd. | 13,735,152 | 1.9 | ||||||||||||||||
309,100 | Sumitomo Mitsui Financial Group, Inc. | 8,639,817 | 1.2 | ||||||||||||||||
112,100 | Takeda Pharmaceutical Co., Ltd. | 5,053,624 | 0.7 | ||||||||||||||||
381,400 | Tokio Marine Holdings, Inc. | 9,094,287 | 1.3 | ||||||||||||||||
100,600 | Tokyo Electron Ltd. | 5,350,259 | 0.8 | ||||||||||||||||
5,497,028 | Other Securities | 61,087,007 | 8.7 | ||||||||||||||||
168,288,348 | 23.9 | ||||||||||||||||||
Luxembourg: 0.2% | |||||||||||||||||||
82,429 | Other Securities | 1,709,002 | 0.2 | ||||||||||||||||
Mexico: 0.4% | |||||||||||||||||||
115,600 | Other Securities | 2,938,552 | 0.4 | ||||||||||||||||
Netherlands: 8.2% | |||||||||||||||||||
377,152 | Royal Dutch Shell PLC — Class A | 13,360,478 | 1.9 | ||||||||||||||||
146,906 | Royal Dutch Shell PLC — Class B | 5,270,709 | 0.8 | ||||||||||||||||
345,004 | Unilever NV | 11,910,803 | 1.7 | ||||||||||||||||
350,666 | Wolters Kluwer NV | 6,187,486 | 0.9 | ||||||||||||||||
1,720,333 | Other Securities | 20,746,623 | 2.9 | ||||||||||||||||
57,476,099 | 8.2 | ||||||||||||||||||
Portugal: 0.8% | |||||||||||||||||||
1,515,478 | Other Securities | 5,664,182 | 0.8 | ||||||||||||||||
Singapore: 1.6% | |||||||||||||||||||
2,183,000 | Other Securities | 11,583,520 | 1.6 | ||||||||||||||||
AS OF OCTOBER 31, 2011 (CONTINUED)
Shares | | | | Value | | Percentage of Net Assets | |||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
COMMON STOCK: (continued) | |||||||||||||||||||
South Africa: 1.4% | |||||||||||||||||||
413,486 | Other Securities | $ | 10,040,448 | 1.4 | |||||||||||||||
South Korea: 1.3% | |||||||||||||||||||
366,195 | Other Securities | 9,221,581 | 1.3 | ||||||||||||||||
Spain: 2.0% | |||||||||||||||||||
338,985 | Indra Sistemas S.A. | 5,680,129 | 0.8 | ||||||||||||||||
284,054 | Telefonica S.A. | 6,036,606 | 0.9 | ||||||||||||||||
487,341 | Other Securities | 2,230,684 | 0.3 | ||||||||||||||||
13,947,419 | 2.0 | ||||||||||||||||||
Sweden: 1.0% | |||||||||||||||||||
584,055 | Other Securities | 7,359,496 | 1.0 | ||||||||||||||||
Switzerland: 4.4% | |||||||||||||||||||
275,105 | Novartis AG | 15,498,117 | 2.2 | ||||||||||||||||
611,936 | Other Securities | 15,637,573 | 2.2 | ||||||||||||||||
31,135,690 | 4.4 | ||||||||||||||||||
United Kingdom: 17.3% | |||||||||||||||||||
164,930 | AstraZeneca PLC | 7,918,141 | 1.1 | ||||||||||||||||
1,212,912 | BAE Systems PLC | 5,378,825 | 0.8 | ||||||||||||||||
190,787 | BHP Billiton PLC | 6,007,777 | 0.9 | ||||||||||||||||
1,077,081 | BP PLC | 7,926,050 | 1.1 | ||||||||||||||||
109,000 | Ensco International PLC ADR | 5,412,940 | 0.8 | ||||||||||||||||
496,090 | GlaxoSmithKline PLC | 11,133,416 | 1.6 | ||||||||||||||||
605,691 | HSBC Holdings PLC | 5,284,835 | 0.7 | ||||||||||||||||
1,423,859 | Tesco PLC | 9,180,199 | 1.3 | ||||||||||||||||
4,010,797 | Vodafone Group PLC | 11,136,709 | 1.6 | ||||||||||||||||
13,351,350 | Other Securities | 52,303,886 | 7.4 | ||||||||||||||||
121,682,778 | 17.3 | ||||||||||||||||||
United States: 2.0% | |||||||||||||||||||
87,100 | Newmont Mining Corp. | 5,820,893 | 0.8 | ||||||||||||||||
268,434 | Other Securities | 8,115,474 | 1.2 | ||||||||||||||||
13,936,367 | 2.0 | ||||||||||||||||||
Total Common Stock | |||||||||||||||||||
(Cost $787,693,887) | 708,316,946 | 100.7 | |||||||||||||||||
PREFERRED STOCK: 0.5% | |||||||||||||||||||
Germany: 0.5% | |||||||||||||||||||
21,632 | Other Securities | 3,767,207 | 0.5 | ||||||||||||||||
Total Preferred Stock | |||||||||||||||||||
(Cost $3,430,366) | 3,767,207 | 0.5 | |||||||||||||||||
Total Long-Term Investments | |||||||||||||||||||
(Cost $791,124,253) | 712,084,153 | 101.2 |
Principal Amount† | | | | Value | | Percentage of Net Assets | |||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
SHORT-TERM INVESTMENTS: 0.8% | |||||||||||||||||||
Securities Lending Collateralcc(1): 0.1% | |||||||||||||||||||
518,447 | BNP Paribas Bank, Repurchase Agreement dated 10/31/11, 0.12%, due 11/01/11 (Principal Amount $518,447, collateralized by various U.S. Government Agency Obligations,3.500%–6.500%, Market Value plus accrued interest $528,816, due 07/01/20–11/01/41) (Cost $518,447) | $ | 518,447 | 0.1 |
Shares | | | | Value | | Percentage of Net Assets | ||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Mutual Funds: 0.7% | ||||||||||||||||||
5,102,347 | BlackRock Liquidity Funds, TempFund, Institutional Class (Cost $5,102,347) | 5,102,347 | 0.7 | |||||||||||||||
Total Short-Term Investments | ||||||||||||||||||
(Cost $5,620,794) | 5,620,794 | 0.8 | ||||||||||||||||
Total Investments in Securities (Cost $796,745,047) | $ | 717,704,947 | 102.0 | |||||||||||||||
Liabilities in Excess of Other Assets | (13,924,453 | ) | (2.0 | ) | ||||||||||||||
Net Assets | $ | 703,780,494 | 100.0 |
† | Unless otherwise indicated, principal amount is shown in USD. |
ADR | American Depository Receipt |
cc | Securities purchased with cash collateral for securities loaned. |
(1) | Collateral received from brokers for securities lending was invested into these short-term investments. |
Cost for federal income tax purposes is $814,443,065. |
Net unrealized depreciation consists of: | ||||||
Gross Unrealized Appreciation | $ | 51,557,351 | ||||
Gross Unrealized Depreciation | (148,295,469 | ) | ||||
Net Unrealized depreciation | $ | (96,738,118 | ) |
AS OF OCTOBER 31, 2011 (CONTINUED)
Sector Diversification | Percentage of Net Assets | |||||
---|---|---|---|---|---|---|
Consumer Discretionary | 7.7 | % | ||||
Consumer Staples | 10.0 | |||||
Energy | 11.3 | |||||
Financials | 18.9 | |||||
Health Care | 10.1 | |||||
Industrials | 8.8 | |||||
Information Technology | 10.1 | |||||
Materials | 8.1 | |||||
Telecommunications | 12.3 | |||||
Utilities | 3.9 | |||||
Short-Term Investments | 0.8 | |||||
Liabilities in Excess of Other Assets | (2.0 | ) | ||||
Net Assets | 100.0 | % |
Quoted Prices in Active Markets for Identical Investments (Level 1) | Significant Other Observable Inputs# (Level 2) | Significant Unobservable Inputs (Level 3) | Fair Value at 10/31/2011 | |||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Asset Table | ||||||||||||||||||
Investments, at value | ||||||||||||||||||
Common Stock | ||||||||||||||||||
Australia | $ | — | $ | 8,936,078 | $ | — | $ | 8,936,078 | ||||||||||
Belgium | — | 4,712,084 | — | 4,712,084 | ||||||||||||||
Brazil | 16,777,538 | — | — | 16,777,538 | ||||||||||||||
Canada | 21,833,726 | — | — | 21,833,726 | ||||||||||||||
China | — | 12,278,294 | 130,625 | 12,408,919 | ||||||||||||||
Finland | — | 13,654,906 | — | 13,654,906 | ||||||||||||||
France | — | 69,469,306 | — | 69,469,306 | ||||||||||||||
Germany | — | 57,415,646 | — | 57,415,646 | ||||||||||||||
Hong Kong | — | 3,191,500 | 698,969 | 3,890,469 | ||||||||||||||
Ireland | — | 3,676,743 | — | 3,676,743 | ||||||||||||||
Israel | 4,142,190 | — | — | 4,142,190 | ||||||||||||||
Italy | — | 36,415,859 | — | 36,415,859 | ||||||||||||||
Japan | 1,906,370 | 166,381,978 | — | 168,288,348 | ||||||||||||||
Luxembourg | — | 1,709,002 | — | 1,709,002 | ||||||||||||||
Mexico | 2,938,552 | — | — | 2,938,552 | ||||||||||||||
Netherlands | — | 57,476,099 | — | 57,476,099 | ||||||||||||||
Portugal | — | 5,664,182 | — | 5,664,182 | ||||||||||||||
Singapore | — | 11,583,520 | — | 11,583,520 | ||||||||||||||
South Africa | — | 10,040,448 | — | 10,040,448 | ||||||||||||||
South Korea | 3,836,400 | 5,385,181 | — | 9,221,581 | ||||||||||||||
Spain | — | 13,947,419 | — | 13,947,419 | ||||||||||||||
Sweden | �� | — | 7,359,496 | — | 7,359,496 | |||||||||||||
Switzerland | — | 31,135,690 | — | 31,135,690 | ||||||||||||||
United Kingdom | 9,897,210 | 111,785,568 | — | 121,682,778 | ||||||||||||||
United States | 13,936,367 | — | — | 13,936,367 | ||||||||||||||
Total Common Stock | 75,268,353 | 632,218,999 | 829,594 | 708,316,946 | ||||||||||||||
Preferred Stock | — | 3,767,207 | — | 3,767,207 | ||||||||||||||
Short-Term Investments | 5,102,347 | 518,447 | — | 5,620,794 | ||||||||||||||
Total Investments, at value | $ | 80,370,700 | $ | 636,504,653 | $ | 829,594 | $ | 717,704,947 |
ˆ | See Note 2, “Significant Accounting Policies” in the Notes to Financial Statements for additional information. |
AS OF OCTOBER 31, 2011 (CONTINUED)
# | The earlier close of the foreign markets gives rise to the possibility that significant events, including broad market moves, may have occurred in the interim and may materially affect the value of those securities. To account for this, the Portfolio may frequently value many of its foreign equity securities using fair value prices based on third party vendor modeling tools to the extent available. Accordingly, a significant portion of the Portfolio’s investments are categorized as Level 2 investments. |
Beginning Balance 10/31/2010 | Purchases | Sales | Accrued Discounts/ (Premiums) | Total Realized Gain/(Loss) | Total Unrealized Appreciation/ (Depreciation) | Transfers Into Level 3 | Transfers Out of Level 3 | Ending Balance 10/31/2011 | ||||||||||||||||||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Asset Table | ||||||||||||||||||||||||||||||||||||||
Investments, at value | ||||||||||||||||||||||||||||||||||||||
Common Stock | $ | — | $ | 5,038,969 | $ | (783,722 | ) | $ | — | $ | (640,683 | ) | $ | (2,915,595 | ) | $ | 130,625 | $ | — | $ | 829,594 | |||||||||||||||||
Short-Term Investments | 961,834 | — | (961,834 | ) | — | (240,458 | ) | 240,458 | — | — | — | |||||||||||||||||||||||||||
Total Investments, at value | $ | 961,834 | $ | 5,038,969 | $ | (1,745,556 | ) | $ | — | $ | (881,141 | ) | $ | (2,675,137 | ) | $ | 130,625 | $ | — | $ | 829,594 |
AS OF OCTOBER 31, 2011
Shares | | | | Value | | Percentage of Net Assets | |||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
COMMON STOCK: 95.6% | |||||||||||||||||||
Consumer Discretionary: 0.9% | |||||||||||||||||||
186,200 | CTC Media, Inc. | $ | 2,143,162 | 0.7 | |||||||||||||||
908,634 | @ | RBC OJSC | 647,422 | 0.2 | |||||||||||||||
2,790,584 | 0.9 | ||||||||||||||||||
Consumer Staples: 7.8% | |||||||||||||||||||
172,300 | Magnit OAO | 18,563,283 | 5.6 | ||||||||||||||||
100,000 | #, @ | MHP SA GDR | 1,072,960 | 0.3 | |||||||||||||||
66,000 | @ | Synergy Co. | 1,534,742 | 0.5 | |||||||||||||||
152,400 | @ | X5 Retail Group N.V. GDR | 4,567,355 | 1.4 | |||||||||||||||
25,738,340 | 7.8 | ||||||||||||||||||
Energy: 32.6% | |||||||||||||||||||
77,900 | L | Eurasia Drilling Co. Ltd. GDR | 1,824,486 | 0.6 | |||||||||||||||
2,783,800 | Gazprom OAO | 16,456,363 | 5.0 | ||||||||||||||||
442,200 | Lukoil-Spon | 25,736,040 | 7.8 | ||||||||||||||||
175,200 | NovaTek OAO GDR | 24,445,289 | 7.4 | ||||||||||||||||
1,936,600 | Rosneft Oil Co. GDR | 13,721,991 | 4.2 | ||||||||||||||||
723,100 | L | Surgutneftegas OJSC ADR | 6,200,875 | 1.9 | |||||||||||||||
16,444,400 | Surgutneftegas OJSC | 8,273,881 | 2.5 | ||||||||||||||||
302,833 | Tatneft ADR | 8,945,050 | 2.7 | ||||||||||||||||
563,900 | TNK-BP Holding | 1,537,286 | 0.5 | ||||||||||||||||
107,141,261 | 32.6 | ||||||||||||||||||
Financials: 18.6% | |||||||||||||||||||
1,149,500 | Bank St Petersburg OJSC | 4,343,147 | 1.3 | ||||||||||||||||
1,041,480 | LSR Group GDR | 4,936,766 | 1.5 | ||||||||||||||||
190,700 | #, @ | Nomos — Bank GDR | 2,383,750 | 0.7 | |||||||||||||||
12,499,521 | Sberbank of Russian Federation | 33,795,628 | 10.3 | ||||||||||||||||
3,257,400 | @ | VTB Bank OJSC GDR | 15,569,493 | 4.8 | |||||||||||||||
61,028,784 | 18.6 | ||||||||||||||||||
Health Care: 0.8% | |||||||||||||||||||
146,965 | @ | Pharmstandard — Reg S GDR | 2,610,354 | 0.8 | |||||||||||||||
Industrials: 1.7% | |||||||||||||||||||
1,659,400 | Aeroflot — Russian Airlines OJSC | 3,090,253 | 1.0 | ||||||||||||||||
120,000 | Global Ports Investment Ltd. GDR | 1,920,000 | 0.6 | ||||||||||||||||
4,247,469 | Novorossiysk Commercial Sea Port PJSC | 448,150 | 0.1 | ||||||||||||||||
5,458,403 | 1.7 | ||||||||||||||||||
Information Technology: 0.9% | |||||||||||||||||||
90,600 | @ | Mail.ru Group Ltd. GDR | 3,099,510 | 0.9 | |||||||||||||||
COMMON STOCK: (continued) | |||||||||||||||||||
Materials: 22.1% | |||||||||||||||||||
34,000 | Akron JSC | $ | 1,407,435 | 0.4 | |||||||||||||||
100,000 | L | Mechel ADR | 517,000 | 0.2 | |||||||||||||||
630,700 | L | Mechel OAO ADR | 8,287,398 | 2.5 | |||||||||||||||
32,900 | MMC Norilsk Nickel | 6,469,543 | 2.0 | ||||||||||||||||
676,421 | L | MMC Norilsk Nickel ADR | 13,190,795 | 4.0 | |||||||||||||||
1,451,500 | Novolipetsk Steel | 3,934,067 | 1.2 | ||||||||||||||||
265,400 | Petropavlovsk PLC | 3,123,903 | 1.0 | ||||||||||||||||
497,600 | @ | Polymetal International PLC | 7,360,828 | 2.2 | |||||||||||||||
572,600 | Raspadskaya | 1,894,115 | 0.6 | ||||||||||||||||
341,200 | Severstal OAO GDR | 4,983,326 | 1.5 | ||||||||||||||||
100,000 | @ | Sibirskiy Cement OAO | 1,575,000 | 0.5 | |||||||||||||||
457,390 | L | Uralkali GDR | 19,709,786 | 6.0 | |||||||||||||||
72,453,196 | 22.1 | ||||||||||||||||||
Telecommunications: 4.3% | |||||||||||||||||||
346,500 | Mobile Telesystems OJSC ADR | 4,951,485 | 1.5 | ||||||||||||||||
118,900 | Mobile TeleSystems OJSC | 754,402 | 0.2 | ||||||||||||||||
588,552 | @ | Rostelecom | 2,985,547 | 0.9 | |||||||||||||||
322,000 | Sistema JSFC GDR | 5,482,078 | 1.7 | ||||||||||||||||
14,173,512 | 4.3 | ||||||||||||||||||
Utilities: 5.5% | |||||||||||||||||||
371,841,500 | Federal Grid Co. Unified Energy System JSC | 3,460,019 | 1.1 | ||||||||||||||||
35,749,700 | @ | IDGC Holding JSC | 3,331,138 | 1.0 | |||||||||||||||
20,000,000 | Mosenergo OAO | 1,273,661 | 0.4 | ||||||||||||||||
47,808,200 | OGK-2 OAO | 1,594,379 | 0.5 | ||||||||||||||||
185,198,748 | @ | RusHydro | 6,974,109 | 2.1 | |||||||||||||||
3,486,013,800 | Territorial Generating Co. No 1 | 1,257,231 | 0.4 | ||||||||||||||||
17,890,537 | 5.5 | ||||||||||||||||||
Total Common Stock | |||||||||||||||||||
(Cost $242,284,082) | 312,384,481 | 95.2 | |||||||||||||||||
Mutual Funds: 0.4% | |||||||||||||||||||
Utilities: 0.4% | |||||||||||||||||||
190,141 | @, X | Renaissance Asset Managers Global Funds — Russian Power Utilities Fund | 1,296,952 | 0.4 | |||||||||||||||
Total Mutual Funds (Cost $752,296) | 1,296,952 | 0.4 | |||||||||||||||||
Total Long-Term Investments (Cost $243,036,378) | 313,681,433 | 95.6 |
AS OF OCTOBER 31, 2011 (CONTINUED)
Principal Amount† | | | | Value | | Percentage of Net Assets | |||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
SHORT-TERM INVESTMENTS: 5.2% | |||||||||||||||||||
Securities Lending Collateralcc(1): 5.2% | |||||||||||||||||||
4,063,390 | Barclays Bank PLC, Repurchase Agreement dated 10/31/11, 0.10%, due 11/01/11 (Principal Amount $4,063,390, collateralized by various U.S. Government Agency Obligations, 0.000%–0.375%, Market Value plus accrued interest $4,144,662, due 11/21/11–10/30/13) | $ | 4,063,390 | 1.2 | |||||||||||||||
4,063,390 | Cantor Fitzgerald, Repurchase Agreement dated 10/31/11, 0.15%, due 11/01/11 (Principal Amount $4,063,390, collateralized by various U.S. Government Agency Obligations, 0.742%–6.579%, Market Value plus accrued interest $4,144,658, due 11/01/15–03/01/48) | 4,063,390 | 1.3 | ||||||||||||||||
855,450 | Deutsche Bank AG, Repurchase Agreement dated 10/31/11, 0.12%, due 11/01/11 (Principal Amount $855,450, collateralized by various U.S. Government Agency Obligations, 1.750%–7.000%, Market Value plus accrued interest $872,559, due 07/01/12–10/01/41) | 855,450 | 0.3 | ||||||||||||||||
4,063,390 | Goldman Sachs & Co., Repurchase Agreement dated 10/31/11, 0.11%, due 11/01/11 (Principal Amount $4,063,390, collateralized by various U.S. Government Agency Obligations, 2.261%–7.000%, Market Value plus accrued interest $4,144,658, due 01/01/18–10/01/41) | 4,063,390 | 1.2 | ||||||||||||||||
4,063,390 | Merrill Lynch & Co., Inc., Repurchase Agreement dated 10/31/11, 0.12%, due 11/01/11 (Principal Amount $4,063,390, collateralized by various U.S. Government Agency Obligations, 3.000%–6.000%, Market Value plus accrued interest $4,144,939, due 09/01/21–11/01/41) | 4,063,390 | 1.2 | ||||||||||||||||
17,109,010 | 5.2 | ||||||||||||||||||
SHORT-TERM INVESTMENTS: (continued) | |||||||||||||||||||
Securities Lending Collateralcc(1): (continued) | |||||||||||||||||||
Total Short-Term Investments | |||||||||||||||||||
(Cost $17,109,010) | $ | 17,109,010 | 5.2 | ||||||||||||||||
Total Investments in Securities (Cost $260,145,388) | $ | 330,790,443 | 100.8 | ||||||||||||||||
Liabilities in Excess of Other Assets | (2,545,490 | ) | (0.8 | ) | |||||||||||||||
Net Assets | $ | 328,244,953 | 100.0 |
† | Unless otherwise indicated, principal amount is shown in USD. |
# | Securities with purchases pursuant to Rule 144A or section 4(2), under the Securities Act of 1933 and may not be resold subject to that rule except to qualified institutional buyers. |
@ | Non-income producing security |
ADR | American Depository Receipt |
GDR | Global Depository Receipt |
cc | Securities purchased with cash collateral for securities loaned. |
L | Loaned security, a portion or all of the security is on loan at October 31, 2011. |
X | Fair value determined by ING Funds Valuation Committee appointed by the Funds’ Board of Directors/Trustees. |
(1) | Collateral received from brokers for securities lending was invested into these short-term investments. |
Cost for federal income tax purposes is $270,226,005. |
Net unrealized appreciation consists of: | ||||||
Gross Unrealized Appreciation | $ | 93,876,939 | ||||
Gross Unrealized Depreciation | (33,312,501 | ) | ||||
Net Unrealized appreciation | $ | 60,564,438 |
AS OF OCTOBER 31, 2011 (CONTINUED)
Quoted Prices in Active Markets for Identical Investments (Level 1) | Significant Other Observable Inputs# (Level 2) | Significant Unobservable Inputs (Level 3) | Fair Value at 10/31/2011 | |||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Asset Table | ||||||||||||||||||
Investments, at value | ||||||||||||||||||
Common Stock | ||||||||||||||||||
Consumer Discretionary | $ | 2,143,162 | $ | 647,422 | $ | — | $ | 2,790,584 | ||||||||||
Consumer Staples | 20,098,025 | 5,640,315 | — | 25,738,340 | ||||||||||||||
Energy | 52,003,570 | 55,137,691 | — | 107,141,261 | ||||||||||||||
Financials | 40,522,525 | 20,506,259 | — | 61,028,784 | ||||||||||||||
Health Care | — | 2,610,354 | — | 2,610,354 | ||||||||||||||
Industrials | 5,458,403 | — | — | 5,458,403 | ||||||||||||||
Information Technology | — | 3,099,510 | — | 3,099,510 | ||||||||||||||
Materials | 31,445,386 | 41,007,810 | — | 72,453,196 | ||||||||||||||
Telecommunications | 4,951,485 | 9,222,027 | — | 14,173,512 | ||||||||||||||
Utilities | 10,916,428 | 6,974,109 | — | 17,890,537 | ||||||||||||||
Total Common Stock | 167,538,984 | 144,845,497 | — | 312,384,481 | ||||||||||||||
Mutual Funds | — | — | 1,296,952 | 1,296,952 | ||||||||||||||
Short-Term Investments | — | 17,109,010 | — | 17,109,010 | ||||||||||||||
Total Investments, at value | $ | 167,538,984 | $ | 161,954,507 | $ | 1,296,952 | $ | 330,790,443 | ||||||||||
ˆ | See Note 2, “Significant Accounting Policies” in the Notes to Financial Statements for additional information. |
# | The earlier close of the foreign markets gives rise to the possibility that significant events, including broad market moves, may have occurred in the interim and may materially affect the value of those securities. To account for this, the Portfolio may frequently value many of its foreign equity securities using fair value prices based on third party vendor modeling tools to the extent available. Accordingly, a significant portion of the Portfolio’s investments are categorized as Level 2 investments. |
Beginning Balance 10/31/2010 | Purchases | Sales | Accrued Discounts/ (Premiums) | Total Realized Gain/(Loss) | Total Unrealized Appreciation/ (Depreciation) | Transfers Into Level 3 | Transfers Out of Level 3 | Ending Balance 10/31/2011 | ||||||||||||||||||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Asset Table | ||||||||||||||||||||||||||||||||||||||
Investments, at value | ||||||||||||||||||||||||||||||||||||||
Mutual Funds | $ | 1,633,280 | $ | — | $ | — | $ | — | $ | — | $ | (336,328 | ) | $ | — | $ | — | $ | 1,296,952 | |||||||||||||||||||
Short-Term Investments | 673,158 | — | (673,158 | ) | — | (168,690 | ) | 168,690 | — | — | — | |||||||||||||||||||||||||||
Total Investments, at value | $ | 2,306,438 | $ | — | $ | (673,158 | ) | $ | — | $ | (168,690 | ) | $ | (167,638 | ) | $ | — | $ | — | $ | 1,296,952 |
Fund Name | Type | Per Share Amount | ||||||||
---|---|---|---|---|---|---|---|---|---|---|
ING Diversified International Fund | ||||||||||
Class A | NII | $ | 0.0816 | |||||||
Class B | NII | $ | 0.0039 | |||||||
Class C | NII | $ | 0.0068 | |||||||
Class I | NII | $ | 0.1101 | |||||||
Class O | NII | $ | 0.0943 | |||||||
Class R | NII | $ | 0.0620 | |||||||
Class W | NII | $ | 0.1132 | |||||||
All Classes | ROC | $ | 0.0097 | |||||||
ING Emerging Countries Fund | ||||||||||
Class A | NII | $ | 0.0006 | |||||||
Class B | NII | $ | 0.0006 | |||||||
Class C | NII | $ | 0.0006 | |||||||
Class I | NII | $ | 0.0446 | |||||||
Class W | NII | $ | 0.0325 | |||||||
ING Global Bond Fund | ||||||||||
Class A | NII | $ | 0.5943 | |||||||
Class B | NII | $ | 0.5046 | |||||||
Class C | NII | $ | 0.5058 | |||||||
Class I | NII | $ | 0.6347 | |||||||
Class O | NII | $ | 0.5949 | |||||||
Class R | NII | $ | 0.1111 | |||||||
Class W | NII | $ | 0.6238 | |||||||
All Classes, except Class R | STCG | $ | 0.1121 | |||||||
Class R | STCG | $ | 0.0068 | |||||||
ING Global Equity Dividend Fund | ||||||||||
Class A | NII | $ | 0.2463 | |||||||
Class B | NII | $ | 0.1641 | |||||||
Class C | NII | $ | 0.1686 | |||||||
Class I | NII | $ | 0.2858 | |||||||
Class O | NII | $ | 0.2470 | |||||||
Class W | NII | $ | 0.2525 | |||||||
ING Global Natural Resources Fund | ||||||||||
Class A | NII | $ | 0.0042 | |||||||
Class I | NII | $ | 0.0112 | |||||||
Class W | NII | $ | 0.0076 | |||||||
ING Global Opportunities Fund | ||||||||||
Class A | NII | $ | 0.3244 | |||||||
Class B | NII | $ | 0.1909 | |||||||
Class C | NII | $ | 0.1933 | |||||||
Class I | NII | $ | 0.3939 | |||||||
Class W | NII | �� | $ | 0.3046 | ||||||
ING Global Real Estate Fund (1) | ||||||||||
Class A | NII | $ | 0.4520 | |||||||
Class B | NII | $ | 0.3547 | |||||||
Class C | NII | $ | 0.3522 | |||||||
Class I | NII | $ | 0.5051 | |||||||
Class O | NII | $ | 0.4501 | |||||||
Class R | NII | $ | 0.0539 | |||||||
Class W | NII | $ | 0.4930 | |||||||
All Classes, except class R | ROC | $ | 0.1441 | |||||||
Class R | ROC | $ | 0.0473 | |||||||
ING Global Value Choice Fund | ||||||||||
Class A | NII | $ | 0.4696 | |||||||
Class B | NII | $ | 0.2019 | |||||||
Class C | NII | $ | 0.3514 | |||||||
Class I | NII | $ | 0.5512 | |||||||
Class W | NII | $ | 0.5371 | |||||||
ING Greater China Fund | ||||||||||
Class A | NII | $ | 0.1785 | |||||||
Class B | NII | $ | 0.0744 | |||||||
Class C | NII | $ | 0.0811 | |||||||
Class I | NII | $ | 0.2348 | |||||||
Class O | NII | $ | 0.1900 | |||||||
Class W | NII | $ | 0.0002 | |||||||
ING Index Plus International Equity Fund | ||||||||||
Class A | NII | $ | 0.1124 | |||||||
Class B | NII | $ | 0.0316 | |||||||
Class C | NII | $ | 0.0424 | |||||||
Class I | NII | $ | 0.1421 | |||||||
Class O | NII | $ | 0.1119 | |||||||
ING International Capital Appreciation | ||||||||||
Class A | NII | $ | 0.0355 | |||||||
Class B | NII | $ | 0.0072 | |||||||
Class C | NII | $ | 0.0072 | |||||||
Class I | NII | $ | 0.0830 | |||||||
Class W | NII | $ | 0.0665 | |||||||
ING International Real Estate Fund | ||||||||||
Class A | NII | $ | 0.4602 | |||||||
Class B | NII | $ | 0.3875 | |||||||
Class C | NII | $ | 0.3921 | |||||||
Class I | NII | $ | 0.4873 | |||||||
Class W | NII | $ | 0.4851 | |||||||
ING International SmallCap Multi-Manager Fund | ||||||||||
Class A | NII | $ | 0.1415 | |||||||
Class B | NII | $ | 0.0008 | |||||||
Class C | NII | $ | 0.0008 | |||||||
Class I | NII | $ | 0.3155 | |||||||
Class O | NII | $ | 0.2040 | |||||||
Class W | NII | $ | 0.2512 | |||||||
ING International Value Choice Fund | ||||||||||
Class A | NII | $ | 0.0898 | |||||||
Class B | NII | $ | — | |||||||
Class C | NII | $ | 0.0266 | |||||||
Class I | NII | $ | 0.1169 | |||||||
Class W | NII | $ | 0.1130 | |||||||
ING International Value Fund | ||||||||||
Class A | NII | $ | 0.2270 | |||||||
Class B | NII | $ | 0.0006 | |||||||
Class C | NII | $ | 0.1596 | |||||||
Class I | NII | $ | 0.2638 | |||||||
Class W | NII | $ | 0.2624 |
Diversified International | 0.52 | % | ||||
Global Equity Dividend | 66.13 | % | ||||
Global Opportunities Fund | 6.11 | % | ||||
Global Value Choice | 13.02 | % | ||||
International Growth Fund | 1.02 | % | ||||
International SmallCap Multi-Manager | 0.43 | % | ||||
International Value Choice | 3.15 | % | ||||
International Value | 0.06 | % |
Diversified International | 100.00 | % | ||||
Emerging Countries fund | 99.88 | % | ||||
Global Equity Dividend | 100.00 | % | ||||
Global Opportunities | 100.00 | % | ||||
Global Value Choice | 62.86 | % | ||||
Greater China | 70.96 | % | ||||
Index Plus International Equity | 100.00 | % | ||||
International Capital Appreciation | 100.00 | % | ||||
International Growth Fund | 93.58 | % | ||||
International Real Estate | 39.69 | % | ||||
International SmallCap Multi-Manager | 100.00 | % | ||||
International Value Choice | 100.00 | % | ||||
International Value | 100.00 | % |
Global Bond | 88.15 | % | ||||
Global Opportunities | 2.06 | % | ||||
Global Value Choice | 1.12 | % | ||||
Index Plus International Equity | 0.45 | % | ||||
International Capital Appreciation | 0.91 | % | ||||
International Real Estate | 0.49 | % | ||||
International SmallCap Multi-Manager | 2.13 | % | ||||
International Value | 1.26 | % |
Creditable Foreign Taxes Paid | Per Share Amount | Portion of Ordinary Income Distribution Derived from Foreign Sourced Income* | ||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Emerging Countries | $ | 222,979 | $ | 0.0637 | 100.00 | % | ||||||||
Emerging Markets Equity | $ | 560 | $ | 0.0001 | 100.00 | % | ||||||||
Global Equity Dividend | $ | 249,870 | $ | 0.0314 | 68.65 | % | ||||||||
Global Opportunities | $ | 120,276 | $ | 0.0236 | 85.59 | % | ||||||||
Global Value Choice | $ | 846,218 | $ | 0.0422 | 24.62 | % | ||||||||
Greater China | $ | 104,247 | $ | 0.0435 | 100.00 | % | ||||||||
Index Plus International Equity | $ | 270,185 | $ | 0.0218 | 92.85 | % | ||||||||
International Capital Appreciation | $ | 86,779 | $ | 0.0213 | 100.00 | % | ||||||||
International Core | $ | 508,561 | $ | 0.0127 | 100.00 | % | ||||||||
International Growth | $ | 274,745 | $ | 0.0167 | 100.00 | % | ||||||||
International Real Estate | $ | 982,488 | $ | 0.0162 | 94.09 | % | ||||||||
International SmallCap Multi-Manager | $ | 748,847 | $ | 0.0869 | 100.00 | % | ||||||||
International Value Choice | $ | 153,371 | $ | 0.0517 | 100.00 | % | ||||||||
International Value | $ | 3,176,910 | $ | 0.0460 | 99.50 | % | ||||||||
Russia | $ | 958,747 | $ | 0.0978 | 97.68 | % |
* | None of the funds listed above derived any income from ineligible foreign sources as defined under Section 901(j) of the Internal Revenue Code. |
1 | A new sub-advisory agreement between ING Investments, LLC (“ING Investments”), the Fund’s investment adviser, and del Rey Global Investors, LLC, the proposed additional sub-adviser to the Fund. |
2(A) | A new sub-advisory agreement between ING Investments and ING Investment Management Asia/Pacific (Hong Kong) Limited. |
2(B) | A new sub-advisory agreement between ING Investments and ING Investment Management Advisors B.V. |
3 | A “Manager-of-Managers” arrangement for the Fund to permit ING Investments, subject to prior approval by the Board of Trustees of ING Mayflower Trust, to enter into and materially amend agreements with unaffiliated sub-advisers without obtaining the approval of the Fund’s shareholders. |
Proposal* | Shares voted for | Shares voted against or withheld | Shares abstained | Broker non-vote | Total Shares Voted | |||||||||||||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
ING International Value Fund | 1 | 32,853,626.878 | 6,977,877.492 | 1,130,870.550 | — | 40,962,374.920 | ||||||||||||||||||||||||
ING International Value Fund | 2(A) | 32,757,041.963 | 7,051,153.199 | 1,154,179.758 | — | 40,962,374.920 | ||||||||||||||||||||||||
ING International Value Fund | 2(B) | 32,793,138.920 | 7,012,718.670 | 1,156,517.330 | — | 40,962,374.920 | ||||||||||||||||||||||||
ING International Value Fund | 3 | 31,500,412.543 | 8,272,335.308 | 1,189,627.069 | — | 40,962,374.920 |
* | Proposals did not pass; Adjourned to February 3, 2011 |
1 | A new sub-advisory agreement between ING Investments, LLC (“ING Investments”), the Fund’s investment adviser, and del Rey Global Investors, LLC, the proposed additional sub-adviser to the Fund. |
2(A) | A new sub-advisory agreement between ING Investments and ING Investment Management Asia/Pacific (Hong Kong) Limited. |
2(B) | A new sub-advisory agreement between ING Investments and ING Investment Management Advisors B.V. |
3 | A “Manager-of-Managers” arrangement for the Fund to permit ING Investments, subject to prior approval by the Board of Trustees of ING Mayflower Trust, to enter into and materially amend agreements with unaffiliated sub-advisers without obtaining the approval of the Fund’s shareholders. |
Proposal* | Shares voted for | Shares voted against or withheld | Shares abstained | Broker non-vote | Total Shares Voted | |||||||||||||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
ING International Value Fund | 1 | 45,206,802.919 | 7,553,058.264 | 2,021,033.041 | — | 54,780,894.224 | ||||||||||||||||||||||||
ING International Value Fund | 2(A) | 45,115,813.784 | 7,626,138.653 | 2,038,941.787 | — | 54,780,894.224 | ||||||||||||||||||||||||
ING International Value Fund | 2(B) | 45,139,151.895 | 7,585,748.330 | 2,055,993.999 | — | 54,780,894.224 | ||||||||||||||||||||||||
ING International Value Fund | 3 | 43,597,675.362 | 9,102,837.913 | 2,080,380.949 | — | 54,780,894.224 |
* | Proposals passed |
1 | A new investment advisory agreement for the Fund between ING Investments, LLC, the investment adviser to the Fund, and Clarion Real Estate Securities, LLC, the current and proposed sub-adviser to the Fund. |
2 | A “Manager-of-Managers” arrangement for the Fund to permit ING Investments, LLC, subject to prior approval by the Board of Trustees, to enter into and materially amend sub-advisory agreements with unaffiliated sub-advisers without obtaining the approval of the Fund’s shareholders. |
Proposal* | Shares voted for | Shares voted against or withheld | Shares abstained | Broker non-vote | Total Shares Voted | |||||||||||||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
ING Global Real Estate Fund | 1 | 104,844,099.703 | 1,599,287.550 | 2,978,800.904 | — | 109,422,188.157 | ||||||||||||||||||||||||
ING Global Real Estate Fund | 2 | 77,214,315.000 | 28,394,001.892 | 3,813,871.265 | — | 109,422,188.157 |
* | Proposals passed |
1 | A new investment advisory agreement for the Fund between ING Investments, LLC, the investment adviser to the Fund, and Clarion Real Estate Securities, LLC, the current and proposed sub-adviser to the Fund. |
Proposal* | Shares voted for | Shares voted against or withheld | Shares abstained | Broker non-vote | Total Shares Voted | |||||||||||||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
ING International Real Estate Fund | 1 | 57,423,766.943 | 175,405.822 | 461,119.524 | — | 58,060,292.289 |
* | Proposals passed |
Name, Address and Age | Position(s) Held with the Company/Trust | Term of Office and Length of Time Served(1) | Principal Occupation(s)— During the Past 5 Years | Number of Funds in Fund Complex Overseen by Director/Trustee(2)(3) | Other Board Positions Held by Director/Trustee | |||||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Independent Trustees: | ||||||||||||||||||||||
Colleen D. Baldwin 7337 East Doubletree Ranch Rd. Suite 100 Scottsdale, Arizona 85258 Age: 51 | Director/ Trustee | IMF November 2007–Present IMT December 2007–Present | President, Glantuam Partners, LLC, a business consulting firm (January 2009– Present) and Consultant (January 2005–Present). | 142 | None. | |||||||||||||||||
John V. Boyer 7337 East Doubletree Ranch Rd. Suite 100 Scottsdale, Arizona 85258 Age: 58 | Director/ Trustee | January 2005–Present | President and Chief Executive Officer, Bechtler Arts Foundation, an arts and education foundation (January 2008–Present). Formerly, Consultant (July 2007–February 2008) and President and Chief Executive Officer, Franklin and Eleanor Roosevelt Institute, a public policy foundation (March 2006–July 2007). | 142 | None. | |||||||||||||||||
Patricia W. Chadwick 7337 East Doubletree Ranch Rd. Suite 100 Scottsdale, Arizona 85258 Age: 63 | Director/ Trustee | January 2006–Present | Consultant and President, Ravengate Partners LLC, a consulting firm that provides advice regarding financial markets and the global economy (January 2000–Present). | 142 | Wisconsin Energy Corporation (June 2006–Present) and The Royce Funds, 35 Funds (December 2009–Present). | |||||||||||||||||
Peter S. Drotch 7337 East Doubletree Ranch Rd. Suite 100 Scottsdale, Arizona 85258 Age: 69 | Director/ Trustee | IMF November 2007–Present IMT December 2007–Present | Retired. | 142 | First Marblehead Corporation (September 2003–Present). | |||||||||||||||||
J. Michael Earley 7337 East Doubletree Ranch Rd. Suite 100 Scottsdale, Arizona 85258 Age: 66 | Director/ Trustee | February 2002–Present | Retired. Formerly, Banking President and Chief Executive Officer, Bankers Trust Company, N.A., Des Moines (June 1992–December 2008). | 142 | None. | |||||||||||||||||
Patrick W. Kenny 7337 East Doubletree Ranch Rd. Suite 100 Scottsdale, Arizona 85258 Age: 68 | Director/ Trustee | January 2005–Present | Retired. Formerly, President and Chief Executive Officer, International Insurance Society (June 2001– June 2009). | 142 | Assured Guaranty Ltd. (April 2004–Present). | |||||||||||||||||
Sheryl K. Pressler 7337 East Doubletree Ranch Rd. Suite 100 Scottsdale, Arizona 85258 Age: 61 | Director/ Trustee | January 2006–Present | Consultant (May 2001–Present). | 142 | Stillwater Mining Company (May 2002–Present). |
Name, Address and Age | Position(s) Held with the Company/Trust | Term of Office and Length of Time Served(1) | Principal Occupation(s)— During the Past 5 Years | Number of Funds in Fund Complex Overseen by Director/Trustee(2)(3) | Other Board Positions Held by Director/Trustee | |||||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Independent Trustees: (continued) | ||||||||||||||||||||||
Roger B. Vincent 7337 East Doubletree Ranch Rd. Suite 100 Scottsdale, Arizona 85258 Age: 66 | Chairperson/Director/ Trustee | February 2002–Present | President, Springwell Corporation, a corporate finance firm (March 1989–Present). | 142 | UGI Corporation (February 2006–Present) and UGI Utilities, Inc. (February 2006–Present). | |||||||||||||||||
Trustees who are “Interested Persons”: | ||||||||||||||||||||||
Robert W. Crispin(4) 7337 East Doubletree Ranch Rd. Suite 100 Scottsdale, Arizona 85258 Age: 65 | Director/ Trustee | IMF November 2007–Present IMT December 2007–Present | Retired. Formerly, Chairman and Chief Executive Officer, ING Investment Management Co. (July 2001–December 2007). | 142 | Intact Financial Corporation (December 2004–Present) and PFM Group (November 2010–Present). | |||||||||||||||||
Shaun P. Mathews(4) 7337 East Doubletree Ranch Rd. Suite 100 Scottsdale, Arizona 85258 Age: 56 | Director/ Trustee | IMF November 2007–Present IMT December 2007–Present | President and Chief Executive Officer, ING Investments, LLC(5) (November 2006– Present). Formerly, Head of ING Mutual Funds and Investment Products (November 2004–November 2006). | 180 | ING Capital Corporation, LLC (December 2005–Present). |
(1) | Directors/Trustees serve until their successors are duly elected and qualified. The tenure of each Director/Trustee is subject to the Board’s retirement policy which states that each duly elected or appointed Director/Trustee who is not an “interested person” of the Company/Trust, as defined in the 1940 Act, as amended (“Independent Directors/Trustees”), shall retire from service as a Director/Trustee at the conclusion of the first regularly scheduled quarterly meeting of the Board that is held after the Director/Trustee reaches the age of 72. A unanimous vote of the Board may extend the retirement date of a Director/Trustee for up to one year. An extension may be permitted if the retirement would trigger a requirement to hold a meeting of shareholders of the Company/Trust under applicable law, whether for purposes of appointing a successor to the Director/Trustee or if otherwise necessary under applicable law, in which case the extension would apply until such time as the shareholder meeting can be held or is no longer needed. |
(2) | For the purposes of this table (except for Mr. Mathews) “Fund Complex” means the following investment companies: ING Asia Pacific High Dividend Equity Income Fund; ING Emerging Markets High Dividend Equity Fund; ING Emerging Markets Local Bond Fund; ING Equity Trust; ING Funds Trust; ING Global Advantage and Premium Opportunity Fund; ING Global Equity Dividend and Premium Opportunity Fund; ING Infrastructure, Industrials and Materials Fund; ING International High Dividend Equity Income Fund; ING Investors Trust; ING Mayflower Trust; ING Mutual Funds; ING Partners, Inc.; ING Prime Rate Trust; ING Risk Managed Natural Resources Fund; ING Senior Income Fund; ING Separate Portfolios Trust; ING Variable Insurance Trust; and ING Variable Products Trust. The number of funds in the Fund Complex is as of November 30, 2011. |
(3) | Mr. Mathews is also Director/Trustee of the following investment companies: ING Balanced Portfolio, Inc.; ING Intermediate Bond Portfolio; ING Money Market Portfolio; ING Series Fund, Inc.; ING Strategic Allocation Portfolios, Inc.; ING Variable Funds; and ING Variable Portfolios, Inc. |
(4) | Messrs. Mathews and Crispin are deemed to be “interested persons” of the Company/Trust as defined in the 1940 Act because of their affiliation with ING Groep, N.V., the parent corporation of the Investment Adviser, ING Investments, LLC and the Distributor, ING Investments Distributor, LLC. |
(5) | ING Investments, LLC was previously named ING Pilgrim Investments, LLC. ING Pilgrim Investments, LLC is the successor in interest to ING Pilgrim Investments, Inc., which was previously known as Pilgrim Investments, Inc. and before that, was known as Pilgrim America Investments, Inc. |
Name, Address and Age | Position(s) Held With the Trust | Term of Office and Length of Time Served(1) | Principal Occupation(s)— During the Past 5 Years | |||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Shaun P. Mathews 7337 East Doubletree Ranch Rd. Suite 100 Scottsdale, Arizona 85258 Age: 56 | President and Chief Executive Officer | November 2006–Present | President and Chief Executive Officer, ING Investments, LLC(2) (November 2006–Present). Formerly, Head of ING Mutual Funds and Investment Products (November 2004–November 2006). | |||||||||||
Michael J. Roland 7337 East Doubletree Ranch Rd. Suite 100 Scottsdale, Arizona 85258 Age: 53 | Executive Vice President Chief Compliance Officer | February 2002–Present March 2011–Present | Chief Compliance Officer of the ING Funds, Directed Services LLC(3) and ING Investments, LLC(2) (March 2011–Present) and Executive Vice President and Chief Operating Officer, ING Investments, LLC(2) and ING Funds Services, LLC(4) (January 2007–Present). Formerly, Executive Vice President, Head of Product Management, ING Investments, LLC(2) and ING Funds Services, LLC(4) (January 2005–January 2007). | |||||||||||
Stanley D. Vyner 230 Park Avenue New York, New York 10169 Age: 61 | Executive Vice President Chief Investment Risk Officer | IMF May 1999–Present IMT November 1999–Present September 2009–Present | Executive Vice President, ING Investments, LLC(2) (July 2000– Present) and Chief Investment Risk Officer, ING Investments, LLC(2) (January 2003–Present). | |||||||||||
Kimberly A. Anderson 7337 East Doubletree Ranch Rd. Suite 100 Scottsdale, Arizona 85258 Age: 47 | Senior Vice President | November 2003–Present | Senior Vice President, ING Investments, LLC(2) (October 2003–Present). | |||||||||||
Todd Modic 7337 East Doubletree Ranch Rd. Suite 100 Scottsdale, Arizona 85258 Age: 44 | Senior Vice President, Chief/Principal Financial Officer and Assistant Secretary | March 2005–Present | Senior Vice President, ING Funds Services, LLC(4) (March 2005–Present). | |||||||||||
Robert Terris 7337 East Doubletree Ranch Rd. Suite 100 Scottsdale, Arizona 85258 Age: 41 | Senior Vice President | May 2006–Present | Senior Vice President, Head of Division Operations, ING Funds Services, LLC(3) (May 2006–Present). | |||||||||||
Gregory K. Wilson 7337 East Doubletree Ranch Rd. Suite 100 Scottsdale, Arizona 85258 Age: 52 | Senior Vice President | September 2011–Present | Vice President–Fund Compliance, ING Funds Services, LLC(4) (October 2009–Present). Formerly, Finance Director, ING Funds Services, LLC(4) (September 2006–October 2009). | |||||||||||
Robyn L. Ichilov 7337 East Doubletree Ranch Rd. Suite 100 Scottsdale, Arizona 85258 Age: 44 | Vice President and Treasurer | IMF May 1999–Present IMT November 1999–Present | Vice President and Treasurer, ING Funds Services, LLC(4) (November 1995–Present) and ING Investments, LLC(2) (August 1997–Present). | |||||||||||
Maria M. Anderson 7337 East Doubletree Ranch Rd. Suite 100 Scottsdale, Arizona 85258 Age: 53 | Vice President | September 2004–Present | Vice President, ING Funds Services, LLC(4) (September 2004–Present). | |||||||||||
Lauren D. Bensinger 7337 East Doubletree Ranch Rd. Suite 100 Scottsdale, Arizona 85258 Age: 57 | Vice President | February 2003–Present | Vice President, ING Investments, LLC(2) and ING Funds Services, LLC (4) (February 1996–Present); Director of Compliance, ING Investments, LLC(2) (October 2004–Present); and Vice President and Money Laundering Reporting Officer, ING Investments Distributor, LLC(5) (April 2010– Present). Formerly, Chief Compliance Officer, ING Investments Distributor, LLC(5) (August 1995–April 2010) |
Name, Address and Age | Position(s) Held With the Trust | Term of Office and Length of Time Served(1) | Principal Occupation(s)— During the Past 5 Years | |||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
William Evans One Orange Way Windsor, Connecticut 06095 Age: 39 | Vice President | September 2007–Present | Senior Vice President (March 2010–Present) and Head of Manager Research and Selection Group, ING Investment Management (April 2007–Present). Formerly, Vice President, U.S. Mutual Funds and Investment Products (May 2005–April 2007). | |||||||||||
Denise Lewis 7337 East Doubletree Ranch Rd. Suite 100 Scottsdale, Arizona 85258 Age: 48 | Vice President | January 2007–Present | Vice President, ING Funds Services, LLC(4) (December 2006–Present). Formerly, Senior Vice President, UMB Investment Services Group, LLC (November 2003–December 2006). | |||||||||||
Kimberly K. Springer 7337 East Doubletree Ranch Rd. Suite 100 Scottsdale, Arizona 85258 Age: 54 | Vice President | March 2006–Present | Vice President, ING Investment Management — ING Funds (March 2010–Present); Vice President, ING Funds Services, LLC(4) (March 2006–Present) and Managing Paralegal, Registration Statements (June 2003–Present). | |||||||||||
Craig Wheeler 7337 East Doubletree Ranch Rd. Suite 100 Scottsdale, Arizona 85258 Age: 42 | Assistant Vice President | May 2008–Present | Assistant Vice President — Director of Tax, ING Funds Services, LLC(4) (March 2008–Present). Formerly, Tax Manager, ING Funds Services, LLC(4) (March 2005–March 2008). | |||||||||||
Huey P. Falgout, Jr. 7337 East Doubletree Ranch Rd. Suite 100 Scottsdale, Arizona 85258 Age: 48 | Secretary | August 2003–Present | Senior Vice President and Chief Counsel, ING Investment Management — ING Funds (March 2010- Present). Formerly, Chief Counsel, ING Americas, U.S. Legal Services (October 2003–March 2010). | |||||||||||
Paul Caldarelli 7337 East Doubletree Ranch Rd. Suite 100 Scottsdale, Arizona 85258 Age: 60 | Assistant Secretary | June 2010–Present | Vice President and Senior Counsel, ING Investment Management — ING Funds (March 2010-Present). Formerly, Senior Counsel, ING Americas, U.S. Legal Services (April 2008–March 2010) and Counsel, ING Americas, U.S. Legal Services (May 2005–April 2008). | |||||||||||
Theresa K. Kelety 7337 East Doubletree Ranch Rd. Suite 100 Scottsdale, Arizona 85258 Age: 48 | Assistant Secretary | August 2003–Present | Vice President and Senior Counsel, ING Investment Management — ING Funds (March 2010–Present). Formerly, Senior Counsel, ING Americas, U.S. Legal Services (April 2008–March 2010) and Counsel, ING Americas, U.S. Legal Services (April 2003–April 2008). | |||||||||||
Kathleen Nichols 7337 East Doubletree Ranch Rd. Suite 100 Scottsdale, Arizona 85258 Age: 36 | Assistant Secretary | May 2008–Present | Vice President and Counsel, ING Investment Management — ING Funds (March 2010–Present). Formerly, Counsel, ING Americas, U.S. Legal Services (February 2008–March 2010) and Associate, Ropes & Gray LLP (September 2005–February 2008) |
(1) | The Officers hold office until the next annual meeting of the Board of Directors/Trustees and until their successors shall have been elected and qualified. |
(2) | ING Investments, LLC was previously named ING Pilgrim Investments, LLC. ING Pilgrim Investments, LLC is the successor in interest to ING Pilgrim Investments, Inc., which was previously known as Pilgrim Investments, Inc. and before that was known as Pilgrim America Investments, Inc. |
(3) | Directed Services LLC is the successor in interest to Directed Services, Inc. |
(4) | ING Funds Services, LLC was previously named ING Pilgrim Group, LLC. ING Pilgrim Group, LLC is the successor in interest to ING Pilgrim Group, Inc., which was previously known as Pilgrim Group, Inc. and before that was known as Pilgrim America Group, Inc. |
(5) | ING Investments Distributor, LLC was previously named ING Funds Distributor, LLC. ING Funds Distributor, LLC is the successor in interest to ING Funds Distributor, Inc., which was previously known as ING Pilgrim Securities, Inc., and before that, was known as Pilgrim Securities, Inc., and before that, was known as Pilgrim America Securities, Inc. |
procedures designed to prevent violations of the Federal securities laws, which had previously been approved by the Board in connection with its oversight of other funds in the ING Funds complex; (10) the information that had been provided by the Adviser at regular Board meetings with respect to its capabilities as a manager-of-managers in overseeing similar funds; and (11) “fall-out benefits” to the Adviser and its affiliates that were anticipated to arise from the Adviser’s management of the Fund.
ING Investments, LLC
7337 East Doubletree Ranch Road, Suite 100
Scottsdale, Arizona 85258
ING Funds Services, LLC
7337 East Doubletree Ranch Road, Suite 100
Scottsdale, Arizona 85258
ING Investments Distributor, LLC
7337 East Doubletree Ranch Road, Suite 100
Scottsdale, Arizona 85258
BNY Mellon Investment Servicing (U.S.) Inc.
301 Bellevue Parkway
Wilmington, Delaware 19809
KPMG LLP
Two Financial Center
60 South Street
Boston, Massachusetts 02111
The Bank of New York Mellon
One Wall Street
New York, New York 10286
Dechert LLP
1775 I Street, N.W.
Washington, D.C. 20006
AR-UINTALL (1011-122111) | |
(a) | Audit Fees: The aggregate fees billed for each of the last two fiscal years for professional services rendered by KPMG LLP (“KPMG”), the principal accountant for the audit of the registrant’s annual financial statements, for services that are normally provided by the accountant in connection with statutory and regulatory filings or engagements for those fiscal years were $37,318 for year ended October 31, 2011 and $74,358 for year ended October 31, 2010. | |
(b) | Audit-Related Fees: The aggregate fees billed in each of the last two fiscal years for assurance and related services by KPMG that are reasonably related to the performance of the audit of the registrant’s financial statements and are not reported under paragraph (a) of this Item were $2,400 for the year ended October 31, 2011 and $2,150 for the year ended October 31, 2010. | |
(c) | Tax Fees: The aggregate fees billed in each of the last two fiscal years for professional services rendered by KPMG for tax compliance, tax advice, and tax planning were $7,414 in the year ended October 31, 2011 and $1,904 in the year ended October 31, 2010. Such services induced review of excise distribution calculations (if applicable), preparation of the Funds’ federal, state and excise tax returns, tax services related to mergers and routine consulting. | |
(d) | All Other Fees: The aggregate fees billed in each of the last two fiscal years for products and services provided by KPMG, other than the services reported in paragraphs (a) through (c) of this Item were $0 for the year ended October 31, 2011 and $0 for the year ended October 31, 2010. | |
(e) | (1) Audit Committee Pre-Approval Policies and Procedures |
AUDIT AND NON-AUDIT SERVICES
PRE-APPROVAL POLICY
I.
Statement of Principles
Under the Sarbanes-Oxley Act of 2002 (the “Act”), the Audit Committee of the Board of Directors or Trustees (the “Committee”) of the ING Funds (each a “Fund,” collectively, the “Funds”) set out on Exhibit A to this Audit and Non-Audit Services Pre-Approval Policy (“Policy”) is responsible for the oversight of the work of the Funds’ independent auditors. As part of its responsibilities, the Committee must pre-approve the audit and non-audit services performed by the auditors in order to assure that the provision of these services does not impair the auditors’ independence from the Funds. The Committee has adopted, and the Board has ratified, this Policy, which sets out the procedures and conditions under which the services of the independent auditors may be pre-approved.
Under Securities and Exchange Commission (“SEC”) rules promulgated in accordance with the Act, the Funds may establish two different approaches to pre-approving audit and non-audit services. The Committee may approve services without consideration of specific case-by-case services (“general pre-approval”) or it may pre-approve specific services (“specific pre-approval”). The Committee believes that the combination of these approaches contemplated in this Policy results in an effective and efficient method for pre-approving audit and non-audit services to be performed by the Funds’ independent auditors. Under this Policy, services that are not of a type that may receive general pre-approval require specific pre-approval by the Committee. Any proposed services that exceed pre-approved cost levels or budgeted amounts will also require the Committee’s specific pre-approval.
For both types of approval, the Committee considers whether the subject services are consistent with the SEC’s rules on auditor independence and that such services are compatible with maintaining the auditors independence. The Committee also considers whether a particular audit firm is in the best position to provide effective and efficient services to the Funds. Reasons that the auditors are in the best position include the auditors’ familiarity with the Funds’ business, personnel, culture, accounting systems, risk profile, and other factors, and whether the services will enhance the Funds’ ability to manage and control risk or improve audit quality. Such factors will be considered as a whole, with no one factor being determinative.
The appendices attached to this Policy describe the audit, audit-related, tax-related, and other services that have the Committee’s general pre-approval. For any service that has been approved through general pre-approval, the general pre-approval will remain in place for a period 12 months from the date of pre-approval, unless the Committee determines that a different period is appropriate. The Committee will annually review and pre-approve the services that may be provided by the independent auditors without specific pre-approval. The Committee will revise the list of services subject to general pre-approval as appropriate. This Policy does not serve as a delegation to Fund management of the Committee’s duty to pre-approve services performed by the Funds’ independent auditors.
II.
Audit Services
The annual audit services engagement terms and fees are subject to the Committee’s specific pre-approval. Audit services are those services that are normally provided by auditors in connection with statutory and regulatory filings or engagements or those that generally only independent auditors can reasonably provide. They include the Funds’ annual financial statement audit and procedures that the independent auditors must perform in order to form an opinion on the Funds’ financial statements (e.g., information systems and procedural reviews and testing). The Committee will monitor the audit services engagement and approve any changes in terms, conditions or fees deemed by the Committee to be necessary or appropriate.
The Committee may grant general pre-approval to other audit services, such as statutory audits and services associated with SEC registration statements, periodic reports and other documents filed with the SEC or issued in connection with securities offerings.
The Committee has pre-approved the audit services listed on Appendix A. The Committee must specifically approve all audit services not listed on Appendix A.
III.
Audit-related Services
Audit-related services are assurance and related services that are reasonably related to the performance of the audit or the review of the Funds’ financial statements or are traditionally performed by the independent auditors. The Committee believes that the provision of audit-related services will not impair the independent auditors’ independence, and therefore may grant pre-approval to audit-related services. Audit-related services include accounting consultations related to accounting, financial reporting or disclosure matters not classified as “audit services;” assistance with understanding and implementing new accounting and financial reporting guidance from rulemaking authorities; agreed-upon or expanded audit procedures relating to accounting and/or billing records required to respond to or comply with financial, accounting or regulatory reporting matters; and assistance with internal control reporting requirements under Form N-SAR or Form N-CSR.
The Committee has pre-approved the audit-related services listed on Appendix B. The Committee must specifically approve all audit-related services not listed on Appendix B.
IV.
Tax Services
The Committee believes the independent auditors can provide tax services to the Funds, including tax compliance, tax planning, and tax advice, without compromising the auditors’ independence. Therefore, the Committee may grant general pre-approval with respect to tax services historically provided by the Funds’ independent auditors that do not, in the Committee’s view, impair auditor independence and that are consistent with the SEC’s rules on auditor independence.
The Committee will not grant pre-approval if the independent auditors initially recommends a transaction the sole business purpose of which is tax avoidance and the tax treatment of which may not be supported in the Internal Revenue Code and related regulations. The Committee may consult
2
outside counsel to determine that tax planning and reporting positions are consistent with this Policy.
The Committee has pre-approved the tax-related services listed on Appendix C. The Committee must specifically approve all tax-related services not listed on Appendix C.
V.
Other Services
The Committee believes it may grant approval of non-audit services that are permissible services for independent auditors to a Fund. The Committee has determined to grant general pre-approval to other services that it believes are routine and recurring, do not impair auditor independence, and are consistent with SEC rules on auditor independence.
The Committee has pre-approved the non-audit services listed on Appendix D. The Committee must specifically approve all non-audit services not listed on Appendix D.
A list of the SEC’s prohibited non-audit services is attached to this Policy as Appendix E. The SEC’s rules and relevant guidance should be consulted to determine the precise definitions of these impermissible services and the applicability of exceptions to certain of the SEC’s prohibitions.
VI.
Pre-approval of Fee levels and Budgeted Amounts
The Committee will annually establish pre-approval fee levels or budgeted amounts for audit, audit-related, tax and non-audit services to be provided to the Funds by the independent auditors. Any proposed services exceeding these levels or amounts require the Committee’s specific pre-approval. The Committee considers fees for audit and non-audit services when deciding whether to pre-approve services. The Committee may determine, for a pre-approval period of 12 months, the appropriate ratio between the total amount of fees for the Fund’s audit, audit-related, and tax services (including fees for services provided to Fund affiliates that are subject to pre-approval), and the total amount of fees for certain permissible non-audit services for the Fund classified as other services (including any such services provided to Fund affiliates that are subject to pre-approval).
VII.
Procedures
Requests or applications for services to be provided by the independent auditors will be submitted to management. If management determines that the services do not fall within those services generally pre-approved by the Committee and set out in the appendices to these procedures, management will submit the services to the Committee or its delagee. Any such submission will include a detailed description of the services to be rendered. Notwithstanding this paragraph, the Committee will, on a quarterly basis, receive from the independent auditors a list of services provided for the previous calendar quarter on a cumulative basis by the auditors during the Pre-Approval Period.
3
VIII.
Delegation
The Committee may delegate pre-approval authority to one or more of the Committee’s members. Any member or members to whom such pre-approval authority is delegated must report any pre-approval decisions, including any pre-approved services, to the Committee at its next scheduled meeting. The Committee will identify any member to whom pre-approval authority is delegated in writing. The member will retain such authority for a period of 12 months from the date of pre-approval unless the Committee determines that a different period is appropriate. The period of delegated authority may be terminated by the Committee or at the option of the member.
IX.
Additional Requirements
The Committee will take any measures the Committee deems necessary or appropriate to oversee the work of the independent auditors and to assure the auditors’ independence from the Funds. This may include reviewing a formal written statement from the independent auditors delineating all relationships between the auditors and the Funds, consistent with Independence Standards Board No. 1, and discussing with the auditors their methods and procedures for ensuring independence.
Effective April 23, 2008, the KPMG LLP (“KPMG”) audit team for the ING Funds accepted the global responsibility for monitoring the auditor independence for KPMG relative to the ING Funds. Using a proprietary system called Sentinel, the audit team is able to identify and manage potential conflicts of interest across the member firms of the KPMG International Network and prevent the provision of prohibited services to the ING entities that would impair KPMG independence with the respect to the ING Funds. In addition to receiving pre-approval from the ING Funds Audit Committee for services provided to the ING Funds and for services for ING entities in the Investment Company Complex, the audit team has developed a process for periodic notification via email to the ING Funds’ Audit Committee Chairpersons regarding requests to provide services to ING Groep NV and its affiliates from KPMG offices worldwide. Additionally, KPMG provides a quarterly summary of the fees for services that have commenced for ING Groep NV and Affiliates at each Audit Committee Meeting.
4
Last Approved: September 29, 2010
5
Appendix A
Pre-Approved Audit Services for the Pre-Approval Period September 29, 2010 through December 31, 2011
Service | ||
| The Fund(s) | Fee Range |
Statutory audits or financial audits (including tax services associated with audit services) | √ | As presented to |
Services associated with SEC registration statements, periodic reports and other documents filed with the SEC or other documents issued in connection with securities offerings (e.g., consents), and assistance in responding to SEC comment letters. | √ | Not to exceed |
Consultations by Fund management with respect to accounting or disclosure treatment of transactions or events and/or the actual or potential effect of final or proposed rules, standards or interpretations by the SEC, Financial Accounting Standards Board, or other regulatory or standard setting bodies. | √ | Not to exceed |
Seed capital audit and related review and issuance of consent on the N-2 registration statement | √ | Not to exceed |
__________
1
For new Funds launched during the Pre-Approval Period, the fee ranges pre-approved will be the same as those for existing Funds, pro-rated in accordance with inception dates as provided in the auditors’ Proposal or any Engagement Letter covering the period at issue. Fees in the Engagement Letter will be controlling.
6
Appendix B
Pre-Approved Audit-Related Services for the Pre-Approval Period September 29, 2010 through December 31, 2011
Service | |||
| The Fund(s) | Fund | Fee Range |
Services related to Fund mergers (Excludes tax services - See Appendix C for tax services associated with Fund mergers) | √ | √ | Not to exceed |
Consultations by Fund management with respect to accounting or disclosure treatment of transactions or events and/or the actual or potential effect of final or proposed rules, standards or interpretations by the SEC, Financial Accounting Standards Board, or other regulatory or standard setting bodies. [Note: Under SEC rules some consultations may be “audit” services and others may be “audit-related” services.] | √ |
| Not to exceed |
Review of the Funds’ semi-annual and quarterly financial statements | √ |
| Not to exceed |
Reports to regulatory or government agencies related to the annual engagement | √ |
| Up to $5,000 per |
Regulatory compliance assistance | √ | √ | Not to exceed |
Training courses |
| √ | Not to exceed |
For Prime Rate Trust, agreed upon procedures for quarterly reports to rating agencies | √ |
| Not to exceed |
|
|
|
|
7
Appendix C
Pre-Approved Tax Services for the Pre-Approval Period September 29, 2010 through December 31, 2011
Service | |||
| The Fund(s) | Fund Affiliates | Fee Range |
Preparation of federal and state income tax returns and federal excise tax returns for the Funds including assistance and review with excise tax distributions | √ |
| As presented to |
Review of IRC Sections 851(b) and 817(h) diversification testing on a real-time basis | √ |
| As presented to |
Assistance and advice regarding year-end reporting for 1099’s | √ |
| As presented to |
Tax assistance and advice regarding statutory, regulatory or administrative developments | √ | √ | Not to exceed |
__________
2
For new Funds launched during the Pre-Approval Period, the fee ranges pre-approved will be the same as those for existing Funds, pro-rated in accordance with inception dates as provided in the auditors’ Proposal or any Engagement Letter covering the period at issue. Fees in the Engagement Letter will be controlling.
8
Appendix C, continued
Service | |||
| The Fund(s) | Fund | Fee Range |
Tax training courses |
| √ | Not to exceed |
Tax services associated with Fund mergers | √ | √ | Not to exceed |
Other tax-related assistance and consultation, including, without limitation, assistance in evaluating derivative financial instruments and international tax issues, qualification and distribution issues, and similar routine tax consultations. | √ |
| Not to exceed |
9
Appendix D
Pre-Approved Other Services for the Pre-Approval Period September 29 , 2010 through December 31, 2011
Service | |||
| The Fund(s) | Fund Affiliates | Fee Range |
Agreed-upon procedures for Class B share 12b-1 programs |
| √ | Not to exceed |
Security counts performed pursuant to Rule 17f-2 of the 1940 Act (i.e., counts for Funds holding securities with affiliated sub-custodians) Cost to be borne 50% by the Funds and 50% by ING Investments, LLC. | √ | √ | Not to exceed |
Agreed upon procedures for 15 (c) FACT Books | √ |
| Not to exceed |
10
Appendix E
Prohibited Non-Audit Services
Dated:
September 29. 2010 to December 31, 2011
·
Bookkeeping or other services related to the accounting records or financial statements of the Funds
·
Financial information systems design and implementation
·
Appraisal or valuation services, fairness opinions, or contribution-in-kind reports
·
Actuarial services
·
Internal audit outsourcing services
·
Management functions
·
Human resources
·
Broker-dealer, investment adviser, or investment banking services
·
Legal services
·
Expert services unrelated to the audit
·
Any other service that the Public Company Accounting Oversight Board determines, by regulation, is impermissible
11
EXHIBIT A
ING EQUITY TRUST
ING FUNDS TRUST
ING ASIA PACIFIC HIGH DIVIDEND EQUITY INCOME FUND
ING GLOBAL ADVANTAGE AND PREMIUM OPPORTUNITY FUND
ING GLOBAL EQUITY DIVIDEND AND PREMIUM OPPORTUNITY FUND
ING INTERNATIONAL HIGH DIVIDEND EQUITY INCOME FUND
ING INFRASTRUCTURE, INDUSTRIALS, AND MATERIALS FUND
ING RISK MANAGED NATURAL RESOURCES FUNDING INVESTORS TRUST
ING EMERGING MARKETS HIGH DIVIDEND EQUITY FUND
ING INVESTORS TRUST
ING MAYFLOWER TRUST
ING MUTUAL FUNDS
ING PARTNERS, INC.
ING PRIME RATE TRUST
ING SENIOR INCOME FUND
ING SEPARATE PORTFOLIOS TRUST
ING VARIABLE INSURANCE TRUST
ING VARIABLE PRODUCTS TRUST
(e)(2) | Percentage of services referred to in 4(b) – (4)(d) that were approved by the audit committee | |
100% of the services were approved by the audit committee. | ||
(f) | Percentage of hours expended attributable to work performed by other than full time employees of KPMG if greater than 50%. | |
Not applicable. | ||
(g) | Non-Audit Fees: The non-audit fees billed by the registrant’s accountant for services rendered to the registrant, and rendered to the registrant’s investment adviser, and any entity controlling, controlled by, or under common control with the adviser that provides ongoing services to the registrant for each of the last two fiscal years of the registrant were $50,106 for year ended October 31, 2011 and $1,394,664 for year ended October 31, 2010. | |
(h) | Principal Accountants Independence: The Registrant’s Audit committee has considered whether the provision of non-audit services that were rendered to the registrant’s investment adviser and any entity controlling, controlled by, or under common control with the investment adviser that provides ongoing services to the registrant that were not pre-approved pursuant to Rule 2-01(c)(7)(ii) of Regulation S-X is compatible with maintaining KPMG’s independence. |
PORTFOLIO OF INVESTMENTS | |
ING INTERNATIONAL VALUE FUND | AS OF OCTOBER 31, 2011 |
Percentage | ||||||||||
of Net | ||||||||||
Shares | Value | Assets | ||||||||
COMMON STOCK: 100.7% | ||||||||||
Australia: 1.3% | ||||||||||
192,758 | National Australia Bank | |||||||||
Ltd. | $ | 5,148,437 | 0.7 | |||||||
163,217 | Westpac Banking Corp. | 3,787,641 | 0.6 | |||||||
8,936,078 | 1.3 | |||||||||
Belgium: 0.7% | ||||||||||
155,829 | Belgacom S.A. | 4,712,084 | 0.7 | |||||||
Brazil: 2.4% | ||||||||||
333,792 | Banco do Brasil S.A. | 5,093,835 | 0.7 | |||||||
267,871 | Centrais Eletricas | |||||||||
Brasileiras SA ADR | 2,665,316 | 0.4 | ||||||||
120,170 | L | Petroleo Brasileiro SA | ||||||||
ADR | 3,039,099 | 0.4 | ||||||||
108,154 | Tele Norte Leste | |||||||||
Participacoes SA ADR | 1,173,471 | 0.2 | ||||||||
70,930 | Telefonica Brasil SA | |||||||||
ADR | 2,058,389 | 0.3 | ||||||||
105,508 | L | Tim Participacoes SA | ||||||||
ADR | 2,747,428 | 0.4 | ||||||||
16,777,538 | 2.4 | |||||||||
Canada: 3.1% | ||||||||||
22,900 | Agnico-Eagle Mines | |||||||||
Ltd. | 993,425 | 0.1 | ||||||||
175,500 | Barrick Gold Corp. | 8,687,250 | 1.2 | |||||||
87,000 | Kinross Gold Corp. | 1,248,450 | 0.2 | |||||||
52,000 | Magna International, | |||||||||
Inc. | 1,983,800 | 0.3 | ||||||||
47,700 | National Bank Of | |||||||||
Canada | 3,404,442 | 0.5 | ||||||||
154,800 | Nexen, Inc. | 2,628,504 | 0.4 | |||||||
90,500 | Suncor Energy, Inc. | 2,887,855 | 0.4 | |||||||
21,833,726 | 3.1 | |||||||||
China: 1.8% | ||||||||||
4,887,000 | China Construction | |||||||||
Bank | 3,590,651 | 0.5 | ||||||||
279,000 | China Mobile Ltd. | 2,651,711 | 0.4 | |||||||
13,346,000 | Huaneng Power | |||||||||
International, Inc. | 6,035,932 | 0.9 | ||||||||
190,000 | X | Sino-Forest Corp. | 130,625 | 0.0 | ||||||
12,408,919 | 1.8 | |||||||||
Finland: 1.9% | ||||||||||
854,449 | Nokia OYJ | 5,749,743 | 0.8 | |||||||
171,239 | Sampo OYJ | 4,706,841 | 0.7 | |||||||
505,293 | Stora Enso OYJ (Euro | |||||||||
Denominated Security) | 3,198,322 | 0.4 | ||||||||
13,654,906 | 1.9 | |||||||||
France: 9.9% | ||||||||||
154,276 | Accor S.A. | 5,042,352 | 0.7 | |||||||
1,479,841 | @ | Alcatel-Lucent | 4,091,321 | 0.6 | ||||||
92,171 | Alstom | 3,432,264 | 0.5 | |||||||
89,532 | BNP Paribas | 3,998,041 | 0.6 | |||||||
80,064 | Capgemini S.A. | 3,063,677 | 0.4 | |||||||
151,336 | Carrefour S.A. | 4,004,049 | 0.6 | |||||||
75,271 | Cie Generale des | |||||||||
Etablissements Michelin | 5,450,389 | 0.8 | ||||||||
339,035 | France Telecom S.A. | 6,095,452 | 0.9 | |||||||
393,328 | Natixis | $ | 1,246,554 | 0.2 | ||||||
228,904 | Sanofi-Aventis | 16,375,571 | 2.3 | |||||||
45,720 | Societe Generale | 1,309,044 | 0.2 | |||||||
23,744 | Technip S.A. | 2,245,163 | 0.3 | |||||||
251,363 | Total S.A. | 13,115,429 | 1.8 | |||||||
69,469,306 | 9.9 | |||||||||
Germany: 8.2% | ||||||||||
49,610 | BASF AG | 3,621,324 | 0.5 | |||||||
196,888 | Deutsche Bank AG | 8,141,036 | 1.2 | |||||||
55,779 | @ | Deutsche Boerse AG | 3,074,192 | 0.4 | ||||||
331,100 | Deutsche Post AG | 5,022,296 | 0.7 | |||||||
720,285 | Deutsche Telekom AG | 9,150,597 | 1.3 | |||||||
165,120 | E.ON AG | 3,981,866 | 0.6 | |||||||
84,470 | Hannover | |||||||||
Rueckversicheru - Reg | 4,158,843 | 0.6 | ||||||||
29,951 | K+S AG | 1,897,869 | 0.3 | |||||||
70,824 | Metro AG | 3,281,540 | 0.5 | |||||||
86,081 | SAP AG | 5,205,141 | 0.7 | |||||||
94,265 | Siemens AG | 9,880,942 | 1.4 | |||||||
57,415,646 | 8.2 | |||||||||
Hong Kong: 0.6% | ||||||||||
6,582,000 | X | Chaoda Modern | ||||||||
Agriculture Holdings | ||||||||||
Ltd. | 698,969 | 0.1 | ||||||||
420,000 | HongKong Electric | |||||||||
Holdings | 3,191,500 | 0.5 | ||||||||
3,890,469 | 0.6 | |||||||||
Ireland: 0.5% | ||||||||||
203,218 | CRH PLC | 3,676,743 | 0.5 | |||||||
Israel: 0.6% | ||||||||||
101,400 | Teva Pharmaceutical | |||||||||
Industries Ltd. ADR | 4,142,190 | 0.6 | ||||||||
Italy: 5.2% | ||||||||||
687,441 | Enel S.p.A. | 3,243,415 | 0.5 | |||||||
548,556 | ENI S.p.A. | 12,125,235 | 1.7 | |||||||
348,505 | @ | Fiat Industrial SpA | 3,034,254 | 0.4 | ||||||
3,244,737 | Intesa Sanpaolo S.p.A. | 5,726,968 | 0.8 | |||||||
469,900 | Intesa Sanpaolo SpA | 677,075 | 0.1 | |||||||
11,061,821 | Telecom Italia S.p.A. | |||||||||
RNC | 11,608,912 | 1.7 | ||||||||
36,415,859 | 5.2 | |||||||||
Japan: 23.9% | ||||||||||
113,000 | Akita Bank Ltd. | 323,752 | 0.0 | |||||||
85,300 | Astellas Pharma, Inc. | 3,119,713 | 0.4 | |||||||
45,000 | Canon, Inc. | 2,042,901 | 0.3 | |||||||
1,065,590 | Chuo Mitsui Trust | |||||||||
Holdings, Inc. | 3,646,581 | 0.5 | ||||||||
788,000 | Dai Nippon Printing Co., | |||||||||
Ltd. | 8,253,851 | 1.2 | ||||||||
193,736 | Daiichi Sankyo Co., Ltd. | 3,763,248 | 0.5 | |||||||
378,900 | Fuji Photo Film Co., Ltd. | 9,273,274 | 1.3 | |||||||
302,000 | Hachijuni Bank Ltd. | 1,679,053 | 0.2 | |||||||
1,275,000 | Hitachi Ltd. | 6,831,816 | 1.0 | |||||||
1,034 | Inpex Holdings, Inc. | 6,826,553 | 1.0 | |||||||
702 | Japan Tobacco, Inc. | 3,508,710 | 0.5 | |||||||
151,000 | JGC Corp. | 4,253,992 | 0.6 | |||||||
216,700 | Komatsu Ltd. | 5,357,867 | 0.8 | |||||||
115,700 | Mabuchi Motor Co., Ltd. | 5,070,976 | 0.7 | |||||||
647,300 | Mitsubishi UFJ Financial | |||||||||
Group, Inc. | 2,813,125 | 0.4 |
See Accompanying Notes to Financial Statements
87
PORTFOLIO OF INVESTMENTS | |
ING INTERNATIONAL VALUE FUND | AS OF OCTOBER 31, 2011 (CONTINUED) |
Percentage | ||||||||||
of Net | ||||||||||
Shares | Value | Assets | ||||||||
COMMON STOCK: (continued) | ||||||||||
Japan: (continued) | ||||||||||
238,300 | Mitsui Sumitomo | |||||||||
Insurance Group | ||||||||||
Holdings, Inc. | $ | 4,667,429 | 0.7 | |||||||
1,327,500 | Mizuho Financial | |||||||||
Group, Inc. | 1,858,087 | 0.3 | ||||||||
18,700 | Nintendo Co., Ltd. | 2,821,280 | 0.4 | |||||||
115,600 | Nippon Telegraph & | |||||||||
Telephone Corp. | 5,929,799 | 0.8 | ||||||||
631,300 | Nissan Motor Co., Ltd. | 5,804,645 | 0.8 | |||||||
3,093 | NTT DoCoMo, Inc. | 5,493,301 | 0.8 | |||||||
231,300 | Omron Corp. | 4,984,836 | 0.7 | |||||||
48,000 | Ono Pharmaceutical | |||||||||
Co., Ltd. | 2,512,072 | 0.4 | ||||||||
127,300 | Rohm Co., Ltd. | 6,486,121 | 0.9 | |||||||
120,400 | Sega Sammy Holdings, | |||||||||
Inc. | 2,617,739 | 0.4 | ||||||||
420,000 | Sekisui House Ltd. | 3,759,693 | 0.5 | |||||||
514,700 | Seven & I Holdings Co., | |||||||||
Ltd. | 13,735,152 | 1.9 | ||||||||
219,300 | Shiseido Co., Ltd. | 4,013,929 | 0.6 | |||||||
122,100 | Sony Corp. | 2,547,424 | 0.4 | |||||||
309,100 | Sumitomo Mitsui | |||||||||
Financial Group, Inc. | 8,639,817 | 1.2 | ||||||||
27,000 | Taisho Pharmaceutical | |||||||||
Holdings Co. Ltd. | 1,906,370 | 0.3 | ||||||||
112,100 | Takeda Pharmaceutical | |||||||||
Co., Ltd. | 5,053,624 | 0.7 | ||||||||
31,200 | TDK Corp. | 1,272,281 | 0.2 | |||||||
381,400 | Tokio Marine Holdings, | |||||||||
Inc. | 9,094,287 | 1.3 | ||||||||
100,600 | Tokyo Electron Ltd. | 5,350,260 | 0.8 | |||||||
89,600 | Toyota Motor Corp. | 2,974,790 | 0.4 | |||||||
168,288,348 | 23.9 | |||||||||
Luxembourg: 0.2% | ||||||||||
82,429 | ArcelorMittal | 1,709,002 | 0.2 | |||||||
Mexico: 0.4% | ||||||||||
115,600 | America Movil SAB de | |||||||||
CV ADR | 2,938,552 | 0.4 | ||||||||
Netherlands: 8.2% | ||||||||||
941,001 | @ | Aegon NV | 4,487,584 | 0.6 | ||||||
41,100 | Akzo Nobel NV | 2,161,123 | 0.3 | |||||||
166,981 | European Aeronautic | |||||||||
Defence and Space Co. | ||||||||||
NV | 4,922,474 | 0.7 | ||||||||
337,812 | Koninklijke Ahold NV | 4,316,010 | 0.6 | |||||||
377,152 | Royal Dutch Shell PLC - | |||||||||
Class A | 13,360,478 | 1.9 | ||||||||
146,906 | Royal Dutch Shell PLC - | |||||||||
Class B | 5,270,709 | 0.8 | ||||||||
233,439 | Koninklijke Philips | |||||||||
Electronics NV | 4,859,432 | 0.7 | ||||||||
345,004 | Unilever NV | 11,910,803 | 1.7 | |||||||
350,666 | Wolters Kluwer NV | 6,187,486 | 0.9 | |||||||
57,476,099 | 8.2 | |||||||||
Portugal: 0.8% | ||||||||||
1,290,202 | Energias de Portugal | |||||||||
S.A. | 4,053,191 | 0.6 | ||||||||
225,276 | Portugal Telecom | |||||||||
SGPS S.A. | $ | 1,610,991 | 0.2 | |||||||
5,664,182 | 0.8 | |||||||||
Singapore: 1.6% | ||||||||||
510,000 | Oversea-Chinese | |||||||||
Banking Corp. | 3,414,432 | 0.5 | ||||||||
1,316,000 | Singapore | |||||||||
Telecommunications | ||||||||||
Ltd. | 3,327,260 | 0.4 | ||||||||
357,000 | United Overseas Bank | |||||||||
Ltd. | 4,841,828 | 0.7 | ||||||||
11,583,520 | 1.6 | |||||||||
South Africa: 1.4% | ||||||||||
84,429 | AngloGold Ashanti Ltd | 3,816,078 | 0.5 | |||||||
236,657 | Gold Fields Ltd. | 4,102,302 | 0.6 | |||||||
92,400 | Impala Platinum | |||||||||
Holdings Ltd. | 2,122,068 | 0.3 | ||||||||
10,040,448 | 1.4 | |||||||||
South Korea: 1.3% | ||||||||||
115,110 | Korea Electric Power | |||||||||
Corp. | 2,577,595 | 0.4 | ||||||||
230,000 | KT Corp. ADR | 3,836,400 | 0.5 | |||||||
21,085 | SK Telecom Co., Ltd. | 2,807,586 | 0.4 | |||||||
9,221,581 | 1.3 | |||||||||
Spain: 2.0% | ||||||||||
487,341 | Banco Popular Espanol | |||||||||
S.A. | 2,230,684 | 0.3 | ||||||||
338,985 | Indra Sistemas S.A. | 5,680,129 | 0.8 | |||||||
284,054 | Telefonica S.A. | 6,036,606 | 0.9 | |||||||
13,947,419 | 2.0 | |||||||||
Sweden: 1.0% | ||||||||||
228,562 | Telefonaktiebolaget LM | |||||||||
Ericsson | 2,382,422 | 0.3 | ||||||||
355,493 | Swedbank AB | 4,977,074 | 0.7 | |||||||
7,359,496 | 1.0 | |||||||||
Switzerland: 4.4% | ||||||||||
72,626 | Nestle S.A. | 4,200,521 | 0.6 | |||||||
275,105 | Novartis AG | 15,498,117 | 2.2 | |||||||
316,700 | STMicroelectronics NV | 2,194,683 | 0.3 | |||||||
90,910 | Swiss Re Ltd. | 4,963,550 | 0.7 | |||||||
6,700 | Swisscom AG | 2,699,043 | 0.4 | |||||||
125,000 | @ | UBS AG - Reg | 1,579,776 | 0.2 | ||||||
31,135,690 | 4.4 | |||||||||
United Kingdom: 17.3% | ||||||||||
164,930 | AstraZeneca PLC | 7,918,141 | 1.1 | |||||||
1,212,912 | BAE Systems PLC | 5,378,825 | 0.8 | |||||||
776,291 | Barclays PLC | 2,406,455 | 0.3 | |||||||
190,787 | BHP Billiton PLC | 6,007,777 | 0.9 | |||||||
1,077,081 | BP PLC | 7,926,051 | 1.1 | |||||||
101,500 | BP PLC ADR | 4,484,270 | 0.6 | |||||||
109,000 | Ensco International PLC | |||||||||
ADR | 5,412,940 | 0.8 | ||||||||
496,090 | GlaxoSmithKline PLC | 11,133,416 | 1.6 | |||||||
2,828,220 | Home Retail Group | 4,563,669 | 0.7 | |||||||
605,691 | HSBC Holdings PLC | 5,284,835 | 0.8 |
See Accompanying Notes to Financial Statements
88
PORTFOLIO OF INVESTMENTS | |
ING INTERNATIONAL VALUE FUND | AS OF OCTOBER 31, 2011 (CONTINUED) |
Percentage | ||||||||||
of Net | ||||||||||
Shares | Value | Assets | ||||||||
COMMON STOCK: (continued) | ||||||||||
United Kingdom: (continued) | ||||||||||
117,277 | Imperial Tobacco Group | |||||||||
PLC | $ | 4,272,033 | 0.6 | |||||||
1,595,534 | @ | ITV PLC | 1,634,811 | 0.2 | ||||||
601,500 | Kingfisher PLC | 2,492,068 | 0.4 | |||||||
2,289,683 | Legal & General Group | |||||||||
PLC | 4,033,524 | 0.6 | ||||||||
2,750,039 | @ | Lloyds TSB Group PLC | 1,422,107 | 0.2 | ||||||
469,251 | Marks & Spencer Group | |||||||||
PLC | 2,419,273 | 0.3 | ||||||||
352,485 | Prudential PLC | 3,640,852 | 0.5 | |||||||
80,264 | Rio Tinto PLC | 4,342,189 | 0.6 | |||||||
194,022 | Standard Chartered | |||||||||
PLC | 4,527,367 | 0.6 | ||||||||
1,423,859 | Tesco PLC | 9,180,199 | 1.3 | |||||||
4,010,797 | Vodafone Group PLC | 11,136,709 | 1.6 | |||||||
600,431 | WM Morrison | |||||||||
Supermarkets PLC | 2,911,740 | 0.4 | ||||||||
68,968 | Wolseley PLC | 1,988,763 | 0.3 | |||||||
252,900 | WPP PLC | 2,617,781 | 0.4 | |||||||
272,985 | Xstrata PLC | 4,546,983 | 0.6 | |||||||
121,682,778 | 17.3 | |||||||||
United States: 2.0% | ||||||||||
163,500 | Coca-Cola Enterprises, | |||||||||
Inc. | 4,385,070 | 0.6 | ||||||||
87,100 | Newmont Mining Corp. | 5,820,893 | 0.8 | |||||||
104,934 | @ | TE Connectivity Ltd. | 3,730,404 | 0.6 | ||||||
13,936,367 | 2.0 | |||||||||
Total Common Stock | ||||||||||
(Cost $787,693,887) | 708,316,946 | 100.7 | ||||||||
PREFERRED STOCK: 0.5% | ||||||||||
Germany: 0.5% | ||||||||||
21,632 | Volkswagen AG | 3,767,207 | 0.5 | |||||||
Total Preferred Stock | ||||||||||
(Cost $3,430,366) | 3,767,207 | 0.5 | ||||||||
Total Long-Term | ||||||||||
Investments | ||||||||||
(Cost $791,124,253) | 712,084,153 | 101.2 |
Percentage | |||||||||
Principal | of Net | ||||||||
Amount† | Value | Assets | |||||||
SHORT-TERM INVESTMENTS: 0.8% | |||||||||
Securities Lending Collateralcc(1): 0.1% | |||||||||
518,447 | BNP Paribas Bank, | ||||||||
Repurchase Agreement | |||||||||
dated 10/31/11, 0.12%, | |||||||||
due 11/01/11 (Principal | |||||||||
Amount $518,447, | |||||||||
collateralized by various | |||||||||
U.S. Government | |||||||||
Agency | |||||||||
Obligations,3.500%- | |||||||||
6.500%, Market Value | |||||||||
plus accrued interest | |||||||||
$528,816, due | |||||||||
07/01/20-11/01/41) | |||||||||
(Cost $518,447) | 518,447 | 0.1 |
Percentage | ||||||||||
of Net | ||||||||||
Shares | Value | Assets | ||||||||
Mutual Funds: 0.7% | ||||||||||
5,102,347 | BlackRock Liquidity | |||||||||
Funds, TempFund, | ||||||||||
Institutional Class | ||||||||||
(Cost $5,102,347) | $ | 5,102,347 | 0.7 | |||||||
Total Short-Term | ||||||||||
Investments | ||||||||||
(Cost $5,620,794) | 5,620,794 | 0.8 | ||||||||
Total Investments in | ||||||||||
Securities | ||||||||||
(Cost $796,745,047) | $ | 717,704,947 | 102.0 | |||||||
Liabilities in Excess of | ||||||||||
Other Assets | (13,924,453 | ) | (2.0 | ) | ||||||
Net Assets | $ | 703,780,494 | 100.0 |
† | Unless otherwise indicated, principal amount is shown in USD. |
@ | Non-income producing security |
ADR | American Depository Receipt |
cc | Securities purchased with cash collateral for securities loaned. |
L | Loaned security, a portion or all of the security is on loan at October 31, 2011. |
X | Fair value determined by ING Funds Valuation Committee appointed by the Funds’ Board of Directors/Trustees. |
(1) | Collateral received from brokers for securities lending was invested into these short-term investments. |
Cost for federal income tax purposes is $814,443,065.
Net unrealized depreciation consists of:
Gross Unrealized Appreciation | $ | 51,557,351 | ||
Gross Unrealized Depreciation | (148,295,469 | ) | ||
Net Unrealized depreciation | $ | (96,738,118 | ) |
Percentage | ||
Sector Diversification | of Net Assets | |
Consumer Discretionary | 7.7 | % |
Consumer Staples | 10.0 | |
Energy | 11.2 | |
Financials | 19.1 | |
Health Care | 10.1 | |
Industrials | 8.8 | |
Information Technology | 10.1 | |
Materials | 8.0 | |
Telecommunications | 12.3 | |
Utilities | 3.9 | |
Short-Term Investments | 0.8 | |
Liabilities in Excess of Other Assets | (2.0 | ) |
Net Assets | 100.0 | % |
See Accompanying Notes to Financial Statements
89
PORTFOLIO OF INVESTMENTS | |
ING INTERNATIONAL VALUE FUND | AS OF OCTOBER 31, 2011 (CONTINUED) |
Fair Value Measurements^
The following is a summary of the fair valuations according to the inputs used as of October 31, 2011 in valuing the assets and liabilities:
Quoted Prices in Active Markets for Identical Investments (Level 1) | Significant Other Observable Inputs # (Level 2) | Significant Unobservable Inputs (Level 3) | Fair Value at 10/31/2011 | ||||||||||
Asset Table | |||||||||||||
Investments, at value | |||||||||||||
Common Stock | |||||||||||||
Australia | $ | — | $ | 8,936,078 | $ | — | $ | 8,936,078 | |||||
Belgium | — | 4,712,084 | — | 4,712,084 | |||||||||
Brazil | 16,777,538 | — | — | 16,777,538 | |||||||||
Canada | 21,833,726 | — | — | 21,833,726 | |||||||||
China | — | 12,278,294 | 130,625 | 12,408,919 | |||||||||
Finland | — | 13,654,906 | — | 13,654,906 | |||||||||
France | — | 69,469,306 | — | 69,469,306 | |||||||||
Germany | — | 57,415,646 | — | 57,415,646 | |||||||||
Hong Kong | — | 3,191,500 | 698,969 | 3,890,469 | |||||||||
Ireland | — | 3,676,743 | — | 3,676,743 | |||||||||
Israel | 4,142,190 | — | — | 4,142,190 | |||||||||
Italy | — | 36,415,859 | — | 36,415,859 | |||||||||
Japan | 1,906,370 | 166,381,978 | — | 168,288,348 | |||||||||
Luxembourg | — | 1,709,002 | — | 1,709,002 | |||||||||
Mexico | 2,938,552 | — | — | 2,938,552 | |||||||||
Netherlands | — | 57,476,099 | — | 57,476,099 | |||||||||
Portugal | — | 5,664,182 | — | 5,664,182 | |||||||||
Singapore | — | 11,583,520 | — | 11,583,520 | |||||||||
South Africa | — | 10,040,448 | — | 10,040,448 | |||||||||
South Korea | 3,836,400 | 5,385,181 | — | 9,221,581 | |||||||||
Spain | — | 13,947,419 | — | 13,947,419 | |||||||||
Sweden | — | 7,359,496 | — | 7,359,496 | |||||||||
Switzerland | — | 31,135,690 | — | 31,135,690 | |||||||||
United Kingdom | 9,897,210 | 111,785,568 | — | 121,682,778 | |||||||||
United States | 13,936,367 | — | — | 13,936,367 | |||||||||
Total Common Stock | 75,268,353 | 632,218,999 | 829,594 | 708,316,946 | |||||||||
Preferred Stock | — | 3,767,207 | — | 3,767,207 | |||||||||
Short-Term Investments | 5,102,347 | 518,447 | — | 5,620,794 | |||||||||
Total Investments, at value | $ | 80,370,700 | $ | 636,504,653 | $ | 829,594 | $ | 717,704,947 |
^ | See Note 2, “Significant Accounting Policies” in the Notes to Financial Statements for additional information. |
# | The earlier close of the foreign markets gives rise to the possibility that significant events, including broad market moves, may have occurred in the interim and may materially affect the value of those securities. To account for this, the Portfolio may frequently value many of its foreign equity securities using fair value prices based on third party vendor modeling tools to the extent available. Accordingly, a significant portion of the Portfolio’s investments are categorized as Level 2 investments. |
There were no significant transfers between Level 1 and 2 during the year ending October 31, 2011. | |
Transfers in or out of Level 3 represent either the beginning value (for transfers in), or the ending value (for transfers out) of any security or derivative instrument where a change in the pricing level occurred from the beginning to the end of the period. Transfers are recognized at the end of the reporting period. |
See Accompanying Notes to Financial Statements
90
(a) | Based on our evaluation conducted within 90 days of the filing date, hereof, the design and operation of the registrant’s disclosure controls and procedures are effective to ensure that material information relating to the registrant is made known to the certifying officers by others within the appropriate entities, particularly during the period in which Forms N-CSR are being prepared, and the registrant’s disclosure controls and procedures allow timely preparation and review of the information for the registrant’s Form N-CSR and the officer certifications of such Form N-CSR. | |
(b) | There were no significant changes in the registrant’s internal controls that occurred during the second fiscal quarter of the period covered by this report that has materially affected, or is reasonably likely to materially affect, the registrant’s internal control over financial reporting. |
(a)(1) | Code of Ethics pursuant to Item 2 of Form N-CSR is filed and attached hereto as EX-99.CODE ETH. | |
(a)(2) | A separate certification for each principal executive officer and principal financial officer of the registrant as required by Rule 30a-2 under the Act (17 CFR 270.30a-2) is attached hereto as EX-99.CERT. | |
(b) | The officer certifications required by Section 906 of the Sarbanes-Oxley Act of 2002 are attached hereto as EX-99.906CERT. | |
(3) | Not applicable. |
By | /s/ Shaun P, Mathews | |||
President and Chief Executive Officer |
By | /s/ Shaun P. Mathews | |||
President and Chief Executive Officer |
By | /s/ Todd Modic | |||
Senior Vice President and Chief Financial Officer |