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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, 2011 to October 31, 2012 |
n ING Diversified International Fund
n ING Global Bond Fund
n ING Global Value Choice Fund
n ING Index Plus International Equity Fund
n ING International Small Cap Fund
n ING International Value Choice Fund
n ING International Value Fund
n ING Russia Fund
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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. |
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President’s Letter | 2 | |||||
Market Perspective | 3 | |||||
Portfolio Managers’ Reports | 6 | |||||
Shareholder Expense Examples | 23 | |||||
Report of Independent Registered Public Accounting Firm | 25 | |||||
Statements of Assets and Liabilities | 26 | |||||
Statements of Operations | 30 | |||||
Statements of Changes in Net Assets | 32 | |||||
Financial Highlights | 36 | |||||
Notes to Financial Statements | 42 | |||||
Summary Portfolios of Investments | 63 | |||||
Tax Information | 101 | |||||
Trustee and Officer Information | 103 | |||||
Advisory Contract Approval Discussion | 107 |
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Seeking Certainty
![](https://capedge.com/proxy/N-CSR/0001145443-13-000038/ing-shaunmathewssig.jpg)
President and Chief Executive Officer
ING Funds
November 30, 2012
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. | |||||
Barclays Capital U.S. Investment Grade Corporate Bond Index | The corporate component of the Barclays Capital U.S. Credit Index. The U.S. Credit Index includes publicly-issued U.S. corporate and specified foreign debentures and secured notes that meet the specified maturity, liquidity, and quality requirements. The index includes both corporate and non-corporate sectors. The corporate sectors are industrial, utility and finance, which includes both U.S. and non-U.S. corporations. | |||||
Barclays Capital U.S. Treasury Index | An unmanaged index that includes public obligations of the U.S. Treasury. Treasury bills, certain special issues, such as state and local government series bonds (SLGs), as well as U.S. Treasury TIPS and STRIPS, are excluded. | |||||
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 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 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 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. |
Index | Description | |||||
---|---|---|---|---|---|---|
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 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 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. | |||||
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, 2012 (percent of net assets) | ||||||||||
International Equity | 85 | % | ||||||||
Emerging Markets | 15 | % | ||||||||
Portfolio holdings are subject to change daily. |
(1) | The members of the Asset Allocation Committee are: Halvard Kvaale, Paul Zemsky and Heather Hackett. Effective August 30, 2012, Bill Evans was replaced with Halvard Kvaale as a member of the Asset Allocation Committee. |
PORTFOLIO MANAGERS’ REPORT | ING DIVERSIFIED INTERNATIONAL FUND |
![](https://capedge.com/proxy/N-CSR/0001145443-13-000038/d30000dif_line.jpg)
Average Annual Total Returns for the Periods Ended October 31, 2012 | ||||||||||||||||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
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) | (0.90 | )% | (7.59 | )% | 0.20 | % | — | — | — | |||||||||||||||||||
Class B(2) | (0.63 | )% | (7.52 | )% | 0.33 | % | — | — | — | |||||||||||||||||||
Class C(3) | 3.39 | % | (7.21 | )% | 0.30 | % | — | — | — | |||||||||||||||||||
Class I | 5.43 | % | (6.25 | )% | 1.29 | % | — | — | — | |||||||||||||||||||
Class O | 5.09 | % | — | — | (4.83 | )% | — | — | ||||||||||||||||||||
Class R | 4.87 | % | (6.70 | )% | — | — | (2.44 | )% | — | |||||||||||||||||||
Class W | 5.48 | % | — | — | — | — | (2.96 | )% | ||||||||||||||||||||
Excluding Sales Charge: | ||||||||||||||||||||||||||||
Class A | 5.19 | % | (6.50 | )% | 1.07 | % | — | — | — | |||||||||||||||||||
Class B | 4.37 | % | (7.19 | )% | 0.33 | % | — | — | — | |||||||||||||||||||
Class C | 4.39 | % | (7.21 | )% | 0.30 | % | — | — | — | |||||||||||||||||||
Class I | 5.43 | % | (6.25 | )% | 1.29 | % | — | — | — | |||||||||||||||||||
Class O | 5.09 | % | — | — | (4.83 | )% | — | — | ||||||||||||||||||||
Class R | 4.87 | % | (6.70 | )% | — | — | (2.44 | )% | — | |||||||||||||||||||
Class W | 5.48 | % | — | — | — | — | (2.96 | )% | ||||||||||||||||||||
MSCI ACWI ex-US | 3.98 | % | (5.08 | )% | 2.83 | %(4) | (3.96 | )%(5) | (0.26 | )%(6) | (2.04 | )%(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 GLOBAL BOND FUND | PORTFOLIO MANAGERS’ REPORT |
Geographic Diversification as of October 31, 2012 (as a percentage of net assets) | ||||||||
United States | 41.8 | % | ||||||
Brazil | 8.3 | % | ||||||
Italy | 5.5 | % | ||||||
Mexico | 4.9 | % | ||||||
France | 3.7 | % | ||||||
South Africa | 3.4 | % | ||||||
Germany | 2.3 | % | ||||||
Russia | 2.2 | % | ||||||
Malaysia | 0.6 | % | ||||||
Countries between 0.0%–1.9%ˆ | 17.7 | % | ||||||
Assets in Excess of Other Liabilities* | 9.6 | % | ||||||
Net Assets | 100.0 | % | ||||||
* | Includes short-term investments and purchased options. | |||||||
ˆ | Includes 51 countries, which each represents 0.0%–1.9% of net assets. | |||||||
Portfolio holdings are subject to change daily. |
Top Ten Holdings as of October 31, 2012* (as a percentage of net assets) | |||||||
Brazil Notas do Tesouro Nacional Series F, 10.000%, 01/01/23 | 6.5 | % | |||||
France Government Bond OAT, 2.250%, 10/25/22 | 3.7 | % | |||||
United States Treasury Bond, 2.750%, 08/15/42 | 2.9 | % | |||||
Italy Buoni Poliennali Del Tesoro, 5.500%, 09/01/22 | 2.8 | % | |||||
Italy Buoni Poliennali Del Tesoro, 5.500%, 11/01/22 | 2.5 | % | |||||
Mexican Bonos, 7.750%, 11/13/42 | 2.0 | % | |||||
Freddie Mac, 1.000%, 09/29/17 | 1.9 | % | |||||
Netherlands Government Bond, 4.500%, 07/15/17 | 1.6 | % | |||||
South Africa Government Bond, 8.750%, 02/28/48 | 1.6 | % | |||||
Petroleos Mexicanos, 7.650%, 11/24/21 | 1.5 | % | |||||
* Excludes short-term investments. | |||||||
Portfolio holdings are subject to change daily. |
PORTFOLIO MANAGERS’ REPORT | ING GLOBAL BOND FUND |
![](https://capedge.com/proxy/N-CSR/0001145443-13-000038/d30000gbf_line.jpg)
Average Annual Total Returns for the Periods Ended October 31, 2012 | ||||||||||||||||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
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) | 3.06 | % | 7.48 | % | 7.53 | % | — | — | — | |||||||||||||||||||
Class B(2) | (0.16 | )% | 6.89 | % | 7.52 | % | — | — | — | |||||||||||||||||||
Class C(3) | 3.87 | % | 7.21 | % | 7.56 | % | — | — | — | |||||||||||||||||||
Class I | 5.94 | % | 8.47 | % | 8.77 | % | — | — | — | |||||||||||||||||||
Class O | 5.62 | % | — | — | 7.48 | % | — | — | ||||||||||||||||||||
Class R | 5.30 | % | — | — | — | 2.92 | % | — | ||||||||||||||||||||
Class W | 5.89 | % | — | — | — | — | 7.45 | % | ||||||||||||||||||||
Excluding Sales Charge: | ||||||||||||||||||||||||||||
Class A | 5.69 | % | 8.02 | % | 8.36 | % | — | — | — | |||||||||||||||||||
Class B | 4.78 | % | 7.20 | % | 7.52 | % | — | — | — | |||||||||||||||||||
Class C | 4.86 | % | 7.21 | % | 7.56 | % | — | — | — | |||||||||||||||||||
Class I | 5.94 | % | 8.47 | % | 8.77 | % | — | — | — | |||||||||||||||||||
Class O | 5.62 | % | — | — | 7.48 | % | — | — | ||||||||||||||||||||
Class R | 5.30 | % | — | — | — | 2.92 | % | — | ||||||||||||||||||||
Class W | 5.89 | % | — | — | — | — | 7.45 | % | ||||||||||||||||||||
Barclays Capital Global Aggregate Index | 3.54 | % | 5.85 | % | 6.53 | %(4) | 5.45 | %(5) | 3.02 | %(6) | 6.35 | % |
(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 VALUE CHOICE FUND | PORTFOLIO MANAGERS’ REPORT |
Geographic Diversification as of October 31, 2012 (as a percentage of net assets) | ||||||||
United States | 28.5 | % | ||||||
Canada | 13.5 | % | ||||||
Japan | 11.6 | % | ||||||
France | 9.9 | % | ||||||
Russia | 4.6 | % | ||||||
South Korea | 4.0 | % | ||||||
United Kingdom | 4.0 | % | ||||||
South Africa | 3.7 | % | ||||||
Brazil | 3.6 | % | ||||||
Countries between 0.0%-3.4%ˆ | 13.1 | % | ||||||
Assets in Excess of Other Liabilities* | 3.5 | % | ||||||
Net Assets | 100.0 | % | ||||||
* | Includes short-term investments. | |||||||
ˆ | Includes 12 countries, which each represents 0.0%–3.4% of net assets. | |||||||
Portfolio holdings are subject to change daily. |
Top Ten Holdings as of October 31, 2012* (as a percentage of net assets) | |||||||
Electricite de France SA | 4.0 | % | |||||
Barrick Gold Corp. | 3.4 | % | |||||
Cameco Corp. | 3.2 | % | |||||
Polyus Gold International Ltd. | 2.2 | % | |||||
Federal Hydrogenerating Co. JSC ADR | 2.1 | % | |||||
Southwest Airlines Co. | 2.1 | % | |||||
American International Group, Inc. | 2.0 | % | |||||
Gazprom OAO ADR | 2.0 | % | |||||
Newcrest Mining Ltd. | 2.0 | % | |||||
ERG S.p.A. | 1.9 | % | |||||
* Excludes short-term investments. | |||||||
Portfolio holdings are subject to change daily. | |||||||
* | On September 6, 2012, the Fund’s Board of Trustees approved a change with respect to the Fund’s sub-adviser, name and principal investment strategies. The Fund will be renamed ING International Value Equity Fund. Effective November 30, 2012, the Fund will be managed by ING Investment Management Co. LLC under an interim sub-advisory agreement with subsequent changes to the Fund’s principal investment strategies, pending shareholder approval of a permanent sub-advisory agreement. The shareholder vote is expected to take place on or about March 12, 2013. |
PORTFOLIO MANAGERS’ REPORT | ING GLOBAL VALUE CHOICE FUND |
![](https://capedge.com/proxy/N-CSR/0001145443-13-000038/d30000gvcf_line.jpg)
Average Annual Total Returns for the Periods Ended October 31, 2012 | ||||||||||||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
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) | (13.02 | )% | 0.26 | % | 8.90 | % | — | — | ||||||||||||||||
Class B(2) | (12.50 | )% | 0.34 | % | 8.78 | % | — | — | ||||||||||||||||
Class C(3) | (9.18 | )% | 0.70 | % | 8.79 | % | — | — | ||||||||||||||||
Class I | (7.54 | )% | 1.79 | % | — | 6.40 | % | — | ||||||||||||||||
Class W | (7.43 | )% | — | — | — | 7.30 | % | |||||||||||||||||
Excluding Sales Charge: | ||||||||||||||||||||||||
Class A | (7.71 | )% | 1.46 | % | 9.54 | % | — | — | ||||||||||||||||
Class B | (8.35 | )% | 0.70 | % | 8.78 | % | — | — | ||||||||||||||||
Class C | (8.36 | )% | 0.70 | % | 8.79 | % | — | — | ||||||||||||||||
Class I | (7.54 | )% | 1.79 | % | — | 6.40 | % | — | ||||||||||||||||
Class W | (7.43 | )% | — | — | 7.30 | % | ||||||||||||||||||
MSCI ACWISM* | 8.55 | % | (2.95 | )% | 7.77 | % | 1.89 | %(4) | 11.16 | % |
(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 INDEX PLUS INTERNATIONAL EQUITY FUND | PORTFOLIO MANAGERS’ REPORT |
Geographic Diversification as of October 31, 2012 (as a percentage of net assets) | |||||||||
United Kingdom | 20.7 | % | |||||||
Japan | 19.2 | % | |||||||
France | 8.9 | % | |||||||
Australia | 8.8 | % | |||||||
Switzerland | 8.1 | % | |||||||
Germany | 7.8 | % | |||||||
Netherlands | 4.8 | % | |||||||
Spain | 3.3 | % | |||||||
Sweden | 3.2 | % | |||||||
Hong Kong | 2.9 | % | |||||||
Countries between 0.1%-1.8%ˆ | 9.6 | % | |||||||
Assets in Excess of Other Liabilities* | 2.7 | % | |||||||
Net Assets | 100.0 | % | |||||||
* | Includes short-term investments. | ||||||||
ˆ | Includes 14 countries, which each represents 0.1%–1.8% of net assets. | ||||||||
Portfolio holdings are subject to change daily. |
Top Ten Holdings as of October 31, 2012* (as a percentage of net assets) | |||||||
Nestle S.A. | 1.6 | % | |||||
HSBC Holdings PLC | 1.5 | % | |||||
Roche Holding AG — Genusschein | 1.4 | % | |||||
Sanofi-Aventis | 1.2 | % | |||||
Novartis AG | 1.2 | % | |||||
BASF AG | 1.1 | % | |||||
British American Tobacco PLC | 1.1 | % | |||||
BP PLC | 1.1 | % | |||||
BHP Billiton Ltd. | 1.1 | % | |||||
Royal Dutch Shell PLC — Class B | 1.0 | % | |||||
* Excludes short-term investments. | |||||||
Portfolio holdings are subject to change daily. |
* | On November 29, 2012, the Fund’s Board of Trustees approved the liquidation of the Fund to be effective on or about February 22, 2013. |
PORTFOLIO MANAGERS’ REPORT | ING INDEX PLUS INTERNATIONAL EQUITY FUND |
![](https://capedge.com/proxy/N-CSR/0001145443-13-000038/d30000ipief_line.jpg)
Average Annual Total Returns for the Periods Ended October 31, 2012 | ||||||||||||||||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
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) | (1.46 | )% | (7.85 | )% | (0.68 | )% | — | — | — | |||||||||||||||||||
Class B(2) | (1.35 | )% | (7.78 | )% | — | (1.07 | )% | — | — | |||||||||||||||||||
Class C(3) | 2.71 | % | (7.46 | )% | — | (1.10 | )% | — | ||||||||||||||||||||
Class I | 5.04 | % | (6.32 | )% | 0.69 | % | — | — | — | |||||||||||||||||||
Class O | 4.55 | % | — | — | — | (5.58 | )% | — | ||||||||||||||||||||
Class W | 4.73 | % | — | — | — | — | 2.32 | % | ||||||||||||||||||||
Excluding Sales Charge: | ||||||||||||||||||||||||||||
Class A | 4.50 | % | (6.76 | )% | 0.18 | % | — | — | — | |||||||||||||||||||
Class B | 3.65 | % | (7.46 | )% | — | (1.07 | )% | — | — | |||||||||||||||||||
Class C | 3.71 | % | (7.46 | )% | — | (1.10 | )% | — | — | |||||||||||||||||||
Class I | 5.04 | % | (6.32 | )% | 0.69 | % | — | — | — | |||||||||||||||||||
Class O | 4.55 | % | — | — | — | (5.58 | )% | — | ||||||||||||||||||||
Class W | 4.73 | % | — | — | — | — | 2.32 | % | ||||||||||||||||||||
MSCI EAFE® Index | 4.61 | % | (5.81 | )% | 1.42 | %(4) | 1.42 | %(4) | (5.81 | )%(5) | (4.50 | )%(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 SMALL CAP FUND | PORTFOLIO MANAGERS’ REPORT |
Geographic Diversification as of October 31, 2012 (as a percentage of net assets) | ||||||||
Japan | 18.3 | % | ||||||
United Kingdom | 17.4 | % | ||||||
Germany | 10.0 | % | ||||||
Australia | 6.2 | % | ||||||
France | 4.5 | % | ||||||
Hong Kong | 4.1 | % | ||||||
Switzerland | 4.0 | % | ||||||
Canada | 3.9 | % | ||||||
Italy | 3.3 | % | ||||||
South Korea | 3.0 | % | ||||||
Countries between 0.0%–3.0%ˆ | 23.2 | % | ||||||
Assets in Excess of Other Liabilities* | 2.1 | % | ||||||
Net Assets | 100.0 | % | ||||||
* | Includes short-term investments. | |||||||
ˆ | Includes 30 countries, which each represents 0.0%–3.0% of net assets. | |||||||
Portfolio holdings are subject to change daily. |
Top Ten Holdings as of October 31, 2012 (as a percentage of net assets) | |||||||
Rheinmetall AG | 0.9 | % | |||||
Draegerwerk AG & Co. KGaA | 0.9 | % | |||||
Drax Group PLC | 0.9 | % | |||||
Forbo Holding AG | 0.9 | % | |||||
Aurubis AG | 0.8 | % | |||||
Kanematsu Corp. | 0.7 | % | |||||
Yuasa Trading Co., Ltd. | 0.7 | % | |||||
Helvetia Holding AG | 0.6 | % | |||||
Dorel Industries, Inc. | 0.7 | % | |||||
Techtronic Industries Co. | 0.6 | % | |||||
Portfolio holdings are subject to change daily. |
PORTFOLIO MANAGERS’ REPORT | ING INTERNATIONAL SMALL CAP FUND |
![](https://capedge.com/proxy/N-CSR/0001145443-13-000038/d30000iscmmf_line.jpg)
Average Annual Total Returns for the Periods Ended October 31, 2012 | ||||||||||||||||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
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) | 0.49 | % | (8.01 | )% | 9.23 | % | — | — | — | |||||||||||||||||||
Class B(2) | 0.96 | % | (7.87 | )% | 9.14 | % | — | — | — | |||||||||||||||||||
Class C(3) | 4.94 | % | (7.53 | )% | 9.15 | % | — | — | — | |||||||||||||||||||
Class I | 7.15 | % | (6.46 | )% | — | 2.53 | % | — | — | |||||||||||||||||||
Class O | 6.75 | % | — | — | — | (3.84 | )% | — | ||||||||||||||||||||
Class W | 7.02 | % | — | — | — | — | (1.40 | )% | ||||||||||||||||||||
Excluding Sales Charge: | ||||||||||||||||||||||||||||
Class A | 6.62 | % | (6.92 | )% | 9.88 | % | — | — | — | |||||||||||||||||||
Class B | 5.96 | % | (7.55 | )% | 9.14 | % | — | — | — | |||||||||||||||||||
Class C | 5.94 | % | (7.53 | )% | 9.15 | % | — | — | — | |||||||||||||||||||
Class I | 7.15 | % | (6.46 | )% | — | 2.53 | % | — | — | |||||||||||||||||||
Class O | 6.75 | % | — | — | — | (3.84 | )% | — | ||||||||||||||||||||
Class W | 7.02 | % | — | — | — | — | (1.40 | )% | ||||||||||||||||||||
S&P Developed ex-US SmallCap Index | 5.12 | % | (4.13 | )% | 11.88 | % | 3.25 | %(4) | (1.93 | )%(5) | (0.12 | )%(6) | ||||||||||||||||
S&P EPAC Smallcap Index | 5.92 | % | (4.38 | )% | 11.59 | % | 2.96 | %(4) | (2.25 | )%(5) | (0.40 | )%(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 |
Geographic Diversification as of October 31, 2012 (as a percentage of net assets) | ||||||||
Japan | 30.1 | % | ||||||
France | 11.2 | % | ||||||
Canada | 9.9 | % | ||||||
United Kingdom | 6.8 | % | ||||||
South Africa | 5.3 | % | ||||||
South Korea | 4.2 | % | ||||||
United States | 3.7 | % | ||||||
Germany | 3.7 | % | ||||||
Australia | 3.5 | % | ||||||
Italy | 3.3 | % | ||||||
Countries between 1.6%–2.9%ˆ | 16.9 | % | ||||||
Assets in Excess of Other Liabilities* | 1.4 | % | ||||||
Net Assets | 100.0 | % | ||||||
* | Includes short-term investments. | |||||||
ˆ | Includes 9 countries, which each represents 1.6%–2.9% of net assets. | |||||||
Portfolio holdings are subject to change daily. |
Top Ten Holdings as of October 31, 2012 (as a percentage of net assets) | |||||||
Barrick Gold Corp. | 3.7 | % | |||||
UBS AG | 2.9 | % | |||||
Nippon Telegraph & Telephone Corp. ADR | 2.8 | % | |||||
AngloGold Ashanti Ltd ADR | 2.6 | % | |||||
SK Telecom Co., Ltd. ADR | 2.6 | % | |||||
GlaxoSmithKline PLC | 2.6 | % | |||||
Mitsui Sumitomo Insurance Group Holdings, Inc. | 2.5 | % | |||||
Carrefour S.A. | 2.5 | % | |||||
Newcrest Mining Ltd. | 2.5 | % | |||||
Sanofi-Aventis | 2.4 | % | |||||
Portfolio holdings are subject to change daily. | |||||||
* | On September 6, 2012, the Fund’s Board of Trustees approved a change with respect to the Fund’s sub-adviser and principal investment strategies. Additionally, the Board of Trustees approved a proposal to reorganize the Fund with and into ING Global Value Choice Fund, to be renamed ING International Value Equity Fund. Effective November 30, 2012, the Fund will be managed by ING Investment Management Co. LLC under an interim sub-advisory agreement with subsequent changes to the Fund’s principal investment strategies, pending shareholder approval of a permanent sub-advisory agreement. Shareholder vote of all proposals is expected to take place on or about March 14, 2013. |
PORTFOLIO MANAGERS’ REPORT | ING INTERNATIONAL VALUE CHOICE FUND |
![](https://capedge.com/proxy/N-CSR/0001145443-13-000038/d30000ivcf_line.jpg)
Average Annual Total Returns for the Periods Ended October 31, 2012 | ||||||||||||||||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
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) | (11.82 | )% | (6.27 | )% | 1.55 | % | — | — | — | |||||||||||||||||||
Class B(2) | (11.60 | )% | (6.18 | )% | 1.55 | % | — | — | — | |||||||||||||||||||
Class C(3) | (7.97 | )% | (5.86 | )% | — | 1.57 | % | — | — | |||||||||||||||||||
Class I | (6.20 | )% | (4.86 | )% | — | — | 1.12 | % | — | |||||||||||||||||||
Class W | (6.11 | )% | — | — | — | — | 1.62 | % | ||||||||||||||||||||
Excluding Sales Charge: | ||||||||||||||||||||||||||||
Class A | (6.42 | )% | (5.15 | )% | 2.33 | % | — | — | — | |||||||||||||||||||
Class B | (7.02 | )% | (5.87 | )% | 1.55 | % | — | — | — | |||||||||||||||||||
Class C | (7.06 | )% | (5.86 | )% | — | 1.57 | % | — | — | |||||||||||||||||||
Class I | (6.20 | )% | (4.86 | )% | — | — | 1.12 | % | — | |||||||||||||||||||
Class W | (6.11 | )% | — | — | — | — | 1.62 | % | ||||||||||||||||||||
MSCI EAFE® Index | 4.61 | % | (5.81 | )% | 3.17 | % | 3.17 | %(4) | 1.42 | %(5) | 7.38 | % |
(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 |
Geographic Diversification as of October 31, 2012 (as a percentage of net assets) | |||||||||
Japan | 22.3 | % | |||||||
United Kingdom | 20.3 | % | |||||||
France | 10.2 | % | |||||||
Netherlands | 7.6 | % | |||||||
Germany | 6.1 | % | |||||||
Switzerland | 5.3 | % | |||||||
Italy | 4.7 | % | |||||||
United States | 2.5 | % | |||||||
Canada | 2.2 | % | |||||||
Hong Kong | 2.0 | % | |||||||
Countries between 0.0%–1.6%ˆ | 15.2 | % | |||||||
Assets in Excess of Other Liabilities* | 1.6 | % | |||||||
Net Assets | 100.0 | % | |||||||
* | Includes short-term investments. | ||||||||
ˆ | Includes 17 countries, which each represents 0.0%–1.6% of net assets. | ||||||||
Portfolio holdings are subject to change daily. |
PORTFOLIO MANAGERS’ REPORT | ING INTERNATIONAL VALUE FUND |
Top Ten Holdings as of October 31, 2012* (as a percentage of net assets) | |||||||
Sanofi-Aventis | 2.4 | % | |||||
Siemens AG | 1.7 | % | |||||
Royal Dutch Shell PLC — Class A | 1.7 | % | |||||
ENI S.p.A. | 1.7 | % | |||||
GlaxoSmithKline PLC | 1.7 | % | |||||
Novartis AG | 1.5 | % | |||||
Total S.A. | 1.5 | % | |||||
Vodafone Group PLC | 1.4 | % | |||||
Tesco PLC | 1.4 | % | |||||
Roche Holding AG — Genusschein | 1.4 | % | |||||
* Excludes short-term investments. | |||||||
Portfolio holdings are subject to change daily. |
ING INTERNATIONAL VALUE FUND | PORTFOLIO MANAGERS’ REPORT |
![](https://capedge.com/proxy/N-CSR/0001145443-13-000038/d30000ivf_line.jpg)
Average Annual Total Returns for the Periods Ended October 31, 2012 | ||||||||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
1 Year | 5 Year | 10 Year | Since Inception of Class W July 20, 2009 | |||||||||||||||||
Including Sales Charge: | ||||||||||||||||||||
Class A(1) | (4.66 | )% | (8.35 | )% | 6.67 | % | — | |||||||||||||
Class B(2) | (4.49 | )% | (8.18 | )% | 6.55 | % | — | |||||||||||||
Class C(3) | (0.47 | )% | (7.88 | )% | 6.57 | % | — | |||||||||||||
Class I | 1.57 | % | (6.93 | )% | 7.71 | % | — | |||||||||||||
Class W | 1.49 | % | — | — | 2.17 | % | ||||||||||||||
Excluding Sales Charge: | ||||||||||||||||||||
Class A | 1.20 | % | (7.26 | )% | 7.30 | % | — | |||||||||||||
Class B | 0.45 | % | (7.92 | )% | 6.55 | % | — | |||||||||||||
Class C | 0.51 | % | (7.88 | )% | 6.57 | % | — | |||||||||||||
Class I | 1.57 | % | (6.93 | )% | 7.71 | % | — | |||||||||||||
Class W | 1.49 | % | — | — | 2.17 | % | ||||||||||||||
MSCI EAFE® Index | 4.61 | % | (5.81 | )% | 7.73 | % | 5.10 | %(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. |
PORTFOLIO MANAGERS’ REPORT | ING RUSSIA FUND |
Sector Diversification as of October 31, 2012 (as a percentage of net assets) | ||||||||
Energy | 42.5 | % | ||||||
Financials | 17.0 | % | ||||||
Materials | 15.3 | % | ||||||
Telecommunications | 9.3 | % | ||||||
Consumer Staples | 6.7 | % | ||||||
Utilities | 5.1 | % | ||||||
Information Technology | 1.4 | % | ||||||
Health Care | 1.1 | % | ||||||
Industrials | 1.0 | % | ||||||
Consumer Discretionary | 0.5 | % | ||||||
Assets in Excess of Other Liabilities* | 0.1 | % | ||||||
Net Assets | 100.0 | % | ||||||
* | Includes short-term investments. | |||||||
Portfolio holdings are subject to change daily. |
Top Ten Holdings as of October 31, 2012 (as a percentage of net assets) | |||||||
Sberbank | 10.6 | % | |||||
Lukoil OAO ADR | 10.3 | % | |||||
Gazprom OAO | 7.1 | % | |||||
Mobile Telesystems OJSC ADR | 5.7 | % | |||||
Transneft | 5.3 | % | |||||
Rosneft Oil Co. GDR | 5.0 | % | |||||
Magnit OAO | 4.9 | % | |||||
Uralkali GDR | 4.7 | % | |||||
NovaTek OAO GDR | 4.4 | % | |||||
Tatneft ADR | 4.1 | % | |||||
Portfolio holdings are subject to change daily. |
* | Effective May 8, 2012, Nathan Griffiths replaced Remco Vergeer as a portfolio manager to the Fund. |
ING RUSSIA FUND | PORTFOLIO MANAGERS’ REPORT |
![](https://capedge.com/proxy/N-CSR/0001145443-13-000038/d30000rf_line.jpg)
Average Annual Total Returns for the Periods Ended October 31, 2012 | ||||||||||||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
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) | (11.59 | )% | (8.65 | )% | 15.84 | % | — | — | ||||||||||||||||
Class I | (6.01 | )% | — | — | 3.82 | % | — | |||||||||||||||||
Class W | (5.99 | )% | — | — | — | (16.31 | )% | |||||||||||||||||
Excluding Sales Charge: | ||||||||||||||||||||||||
Class A | (6.21 | )% | (7.56 | )% | 16.52 | % | — | — | ||||||||||||||||
Class I | (6.01 | )% | — | — | 3.82 | % | — | |||||||||||||||||
Class W | (5.99 | )% | — | — | — | (16.31 | )% | |||||||||||||||||
RTS Index | (5.15 | )% | (6.88 | )% | 16.59 | % | 6.48 | %(2) | (20.00 | )%(3) | ||||||||||||||
MSCI Russia 10/40 IndexSM | (5.92 | )% | (5.86 | )% | N/A | 5.65 | %(2) | (20.99 | )%(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, 2012 | Ending Account Value October 31, 2012 | Annualized Expense Ratio | Expenses Paid During the Period Ended October 31, 2012* | Beginning Account Value May 1, 2012 | Ending Account Value October 31, 2012 | Annualized Expense Ratio | Expenses Paid During the Period Ended October 31, 2012* | ||||||||||||||||||||||||||||
ING Diversified International Fund** | |||||||||||||||||||||||||||||||||||
Class A | $ | 1,000.00 | $ | 1,001.10 | 0.50 | % | $ | 2.52 | $ | 1,000.00 | $ | 1,022.62 | 0.50 | % | $ | 2.54 | |||||||||||||||||||
Class B | 1,000.00 | 996.60 | 1.25 | 6.27 | 1,000.00 | 1,018.85 | 1.25 | 6.34 | |||||||||||||||||||||||||||
Class C | 1,000.00 | 996.60 | 1.25 | 6.27 | 1,000.00 | 1,018.85 | 1.25 | 6.34 | |||||||||||||||||||||||||||
Class I | 1,000.00 | 1,002.20 | 0.25 | 1.26 | 1,000.00 | 1,023.88 | 0.25 | 1.27 | |||||||||||||||||||||||||||
Class O | 1,000.00 | 1,000.00 | 0.50 | 2.51 | 1,000.00 | 1,022.62 | 0.50 | 2.54 | |||||||||||||||||||||||||||
Class R | 1,000.00 | 1,000.00 | 0.75 | 3.77 | 1,000.00 | 1,021.37 | 0.75 | 3.81 | |||||||||||||||||||||||||||
Class W | 1,000.00 | 1,002.30 | 0.25 | 1.26 | 1,000.00 | 1,023.88 | 0.25 | 1.27 |
* | Expenses are equal to each Fund’s respective annualized expense ratios multiplied by the average account value over the period, multiplied by 184/366 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, 2012 | Ending Account Value October 31, 2012 | Annualized Expense Ratio | Expenses Paid During the Period Ended October 31, 2012* | Beginning Account Value May 1, 2012 | Ending Account Value October 31, 2012 | Annualized Expense Ratio | Expenses Paid During the Period Ended October 31, 2012* | ||||||||||||||||||||||||||||
ING Global Bond Fund | |||||||||||||||||||||||||||||||||||
Class A | $ | 1,000.00 | $ | 1,026.70 | 0.90 | % | $ | 4.58 | $ | 1,000.00 | $ | 1,020.61 | 0.90 | % | $ | 4.57 | |||||||||||||||||||
Class B | 1,000.00 | 1,022.20 | 1.65 | 8.39 | 1,000.00 | 1,016.84 | 1.65 | 8.36 | |||||||||||||||||||||||||||
Class C | 1,000.00 | 1,023.00 | 1.65 | 8.39 | 1,000.00 | 1,016.84 | 1.65 | 8.36 | |||||||||||||||||||||||||||
Class I | 1,000.00 | 1,028.30 | 0.60 | 3.06 | 1,000.00 | 1,022.12 | 0.60 | 3.05 | |||||||||||||||||||||||||||
Class O | 1,000.00 | 1,027.20 | 0.90 | 4.59 | 1,000.00 | 1,020.61 | 0.90 | 4.57 | |||||||||||||||||||||||||||
Class R | 1,000.00 | 1,025.50 | 1.15 | 5.86 | 1,000.00 | 1,019.36 | 1.15 | 5.84 | |||||||||||||||||||||||||||
Class W | 1,000.00 | 1,027.60 | 0.65 | 3.31 | 1,000.00 | 1,021.87 | 0.65 | 3.30 | |||||||||||||||||||||||||||
ING Global Value Choice Fund | |||||||||||||||||||||||||||||||||||
Class A | $ | 1,000.00 | $ | 1,005.30 | 1.51 | % | $ | 7.61 | $ | 1,000.00 | $ | 1,017.55 | 1.51 | % | $ | 7.66 | |||||||||||||||||||
Class B | 1,000.00 | �� | 1,001.80 | 2.26 | 11.37 | 1,000.00 | 1,013.77 | 2.26 | 11.44 | ||||||||||||||||||||||||||
Class C | 1,000.00 | 1,001.60 | 2.26 | 11.37 | 1,000.00 | 1,013.77 | 2.26 | 11.44 | |||||||||||||||||||||||||||
Class I | 1,000.00 | 1,005.70 | 1.26 | 6.35 | 1,000.00 | 1,018.80 | 1.26 | 6.39 | |||||||||||||||||||||||||||
Class W | 1,000.00 | 1,006.80 | 1.26 | 6.36 | 1,000.00 | 1,018.80 | 1.26 | 6.39 | |||||||||||||||||||||||||||
ING Index Plus International Equity Fund | |||||||||||||||||||||||||||||||||||
Class A | $ | 1,000.00 | $ | 1,020.60 | 1.15 | % | $ | 5.84 | $ | 1,000.00 | $ | 1,019.36 | 1.15 | % | $ | 5.84 | |||||||||||||||||||
Class B | 1,000.00 | 1,015.30 | 1.90 | 9.62 | 1,000.00 | 1,015.58 | 1.90 | 9.63 | |||||||||||||||||||||||||||
Class C | 1,000.00 | 1,015.50 | 1.90 | 9.63 | 1,000.00 | 1,015.58 | 1.90 | 9.63 | |||||||||||||||||||||||||||
Class I | 1,000.00 | 1,023.20 | 0.68 | 3.46 | 1,000.00 | 1,021.72 | 0.68 | 3.46 | |||||||||||||||||||||||||||
Class O | 1,000.00 | 1,019.50 | 1.15 | 5.84 | 1,000.00 | 1,019.36 | 1.15 | 5.84 | |||||||||||||||||||||||||||
Class W | 1,000.00 | 1,022.00 | 0.90 | 4.57 | 1,000.00 | 1,020.61 | 0.90 | 4.57 | |||||||||||||||||||||||||||
ING International Small Cap Fund | |||||||||||||||||||||||||||||||||||
Class A | $ | 1,000.00 | $ | 983.30 | 1.74 | % | $ | 8.67 | $ | 1,000.00 | $ | 1,016.39 | 1.74 | % | $ | 8.82 | |||||||||||||||||||
Class B | 1,000.00 | 980.20 | 2.39 | 11.90 | 1,000.00 | 1,013.12 | 2.39 | 12.09 | |||||||||||||||||||||||||||
Class C | 1,000.00 | 980.10 | 2.39 | 11.90 | 1,000.00 | 1,013.12 | 2.39 | 12.09 | |||||||||||||||||||||||||||
Class I | 1,000.00 | 986.20 | 1.26 | 6.29 | 1,000.00 | 1,018.80 | 1.26 | 6.39 | |||||||||||||||||||||||||||
Class O | 1,000.00 | 983.90 | 1.64 | 8.18 | 1,000.00 | 1,016.89 | 1.64 | 8.31 | |||||||||||||||||||||||||||
Class W | 1,000.00 | 985.30 | 1.39 | 6.94 | 1,000.00 | 1,018.15 | 1.39 | 7.05 | |||||||||||||||||||||||||||
ING International Value Choice Fund | |||||||||||||||||||||||||||||||||||
Class A | $ | 1,000.00 | $ | 1,007.70 | 1.56 | % | $ | 7.87 | $ | 1,000.00 | $ | 1,017.29 | 1.56 | % | $ | 7.91 | |||||||||||||||||||
Class B | 1,000.00 | 1,004.40 | 2.31 | 11.64 | 1,000.00 | 1,013.52 | 2.31 | 11.69 | |||||||||||||||||||||||||||
Class C | 1,000.00 | 1,003.30 | 2.31 | 11.63 | 1,000.00 | 1,013.52 | 2.31 | 11.69 | |||||||||||||||||||||||||||
Class I | 1,000.00 | 1,008.80 | 1.35 | 6.82 | 1,000.00 | 1,018.35 | 1.35 | 6.85 | |||||||||||||||||||||||||||
Class W | 1,000.00 | 1,009.90 | 1.31 | 6.62 | 1,000.00 | 1,018.55 | 1.31 | 6.65 | |||||||||||||||||||||||||||
ING International Value Fund | |||||||||||||||||||||||||||||||||||
Class A | $ | 1,000.00 | $ | 1,014.60 | 1.61 | % | $ | 8.15 | $ | 1,000.00 | $ | 1,017.04 | 1.61 | % | $ | 8.16 | |||||||||||||||||||
Class B | 1,000.00 | 1,010.60 | 2.31 | 11.67 | 1,000.00 | 1,013.52 | 2.31 | 11.69 | |||||||||||||||||||||||||||
Class C | 1,000.00 | 1,011.00 | 2.31 | 11.68 | 1,000.00 | 1,013.52 | 2.31 | 11.69 | |||||||||||||||||||||||||||
Class I | 1,000.00 | 1,016.70 | 1.17 | 5.93 | 1,000.00 | 1,019.25 | 1.17 | 5.94 | |||||||||||||||||||||||||||
Class W | 1,000.00 | 1,015.70 | 1.31 | 6.64 | 1,000.00 | 1,018.55 | 1.31 | 6.65 | |||||||||||||||||||||||||||
ING Russia Fund | |||||||||||||||||||||||||||||||||||
Class A | $ | 1,000.00 | $ | 934.00 | 2.14 | % | $ | 10.40 | $ | 1,000.00 | $ | 1,014.38 | 2.14 | % | $ | 10.84 | |||||||||||||||||||
Class I | 1,000.00 | 934.10 | 1.96 | 9.53 | 1,000.00 | 1,015.28 | 1.96 | 9.93 | |||||||||||||||||||||||||||
Class W | 1,000.00 | 934.90 | 1.89 | 9.19 | 1,000.00 | 1,015.63 | 1.89 | 9.58 |
* | Expenses are equal to each Fund’s respective annualized expense ratios multiplied by the average account value over the period, multiplied by 184/366 to reflect the most recent fiscal half-year. |
ING Mutual Funds and ING Mayflower Trust
![](https://capedge.com/proxy/N-CSR/0001145443-13-000038/kpmgllp1.jpg)
December 20, 2012
ING Diversified International Fund | ING Global Bond Fund | ING Global Value Choice Fund | ING Index Plus International Equity Fund | |||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
ASSETS: | ||||||||||||||||||
Investments in securities at fair value+* | $ | 4,471,700 | $ | 729,778,672 | $ | 171,237,728 | $ | 54,846,728 | ||||||||||
Investments in affiliated underlying funds** | 92,548,723 | — | — | — | ||||||||||||||
Short-term investments at fair value*** | — | 41,255,640 | 15,326,588 | 1,361,000 | ||||||||||||||
Short-term investments at amortized cost | — | 77,987,438 | — | — | ||||||||||||||
Total Investments at fair value | 97,020,423 | 849,021,750 | 186,564,316 | 56,207,728 | ||||||||||||||
Cash | 97,167 | 2,470,316 | — | — | ||||||||||||||
Cash collateral for futures | — | 2,764,562 | — | 56,525 | ||||||||||||||
Receivable for derivatives collateral (Note 2) | — | 7,530,000 | — | — | ||||||||||||||
Foreign currencies at value**** | — | 285,713 | — | 7,841 | ||||||||||||||
Receivables: | �� | |||||||||||||||||
Investments in affiliated underlying funds sold | 55,834 | — | — | — | ||||||||||||||
Investments securities sold | — | 48,933,876 | 1,245,523 | — | ||||||||||||||
Investment securities sold on a delayed-delivery or when-issued basis | — | 29,257,808 | — | — | ||||||||||||||
Fund shares sold | 6,098 | 1,872,168 | 38,062 | 17,125 | ||||||||||||||
Dividends | — | 1,801 | 345,713 | 172,578 | ||||||||||||||
Interest | — | 7,670,001 | — | — | ||||||||||||||
Foreign tax reclaims | — | — | — | 126,967 | ||||||||||||||
Unrealized appreciation on forward foreign currency contracts | — | 15,056,820 | — | — | ||||||||||||||
Upfront payments paid on OTC swap agreements | — | 205,465 | — | — | ||||||||||||||
Unrealized appreciation on OTC swap agreements | — | 23,142 | — | — | ||||||||||||||
Prepaid expenses | 15,161 | 59,034 | 21,961 | 11,466 | ||||||||||||||
Reimbursement due from manager | 6,300 | 29,022 | — | 24,416 | ||||||||||||||
Total assets | 97,200,983 | 965,181,478 | 188,215,575 | 56,624,646 | ||||||||||||||
LIABILITIES: | ||||||||||||||||||
Payable for investment securities purchased | — | 80,455,359 | 1,092,945 | — | ||||||||||||||
Payable for investment securities purchased on a delayed-delivery or when-issued basis | — | 54,393,877 | — | — | ||||||||||||||
Payable for fund shares redeemed | 251,558 | 1,039,872 | 819,893 | 68,901 | ||||||||||||||
Payable for foreign cash collateral for futures***** | — | 186,409 | — | — | ||||||||||||||
Payable upon receipt of securities loaned | — | — | 8,310,696 | — | ||||||||||||||
Unrealized depreciation on forward foreign currency contracts | — | 11,560,519 | — | — | ||||||||||||||
Unrealized depreciation on OTC swap agreements | — | 8,501,863 | — | — | ||||||||||||||
Payable for investment management fees | — | 258,685 | 166,893 | 26,447 | ||||||||||||||
Payable for administrative fees | 8,308 | 64,670 | 15,740 | 4,808 | ||||||||||||||
Payable for shareholder service and distribution fees | 41,609 | 141,514 | 67,634 | 10,187 | ||||||||||||||
Payable to custodian due to bank overdraft | — | — | — | 4,618 | ||||||||||||||
Payable for trustee fees | 540 | 3,483 | 1,827 | 420 | ||||||||||||||
Payable for derivatives collateral (Note 2) | — | 4,198,000 | — | — | ||||||||||||||
Other accrued expenses and liabilities | 166,854 | 178,792 | 158,291 | 126,692 | ||||||||||||||
Written options, at fair valueˆ | — | 217,804 | — | — | ||||||||||||||
Total liabilities | 468,869 | 161,200,847 | 10,633,919 | 242,073 | ||||||||||||||
NET ASSETS | $ | 96,732,114 | $ | 803,980,631 | $ | 177,581,656 | $ | 56,382,573 | ||||||||||
NET ASSETS WERE COMPRISED OF: | ||||||||||||||||||
Paid-in capital | $ | 255,505,558 | $ | 791,647,158 | $ | 239,120,939 | $ | 125,499,396 | ||||||||||
Undistributed (distributions in excess of) net investment income | 343,923 | (3,407,671 | ) | 678,384 | 2,410,014 | |||||||||||||
Accumulated net realized loss | (163,717,567 | ) | (1,102,932 | ) | (37,756,854 | ) | (80,882,464 | ) | ||||||||||
Net unrealized appreciation (depreciation) | 4,600,200 | 16,844,076 | (24,460,813 | ) | 9,355,627 | |||||||||||||
NET ASSETS | $ | 96,732,114 | $ | 803,980,631 | $ | 177,581,656 | $ | 56,382,573 | ||||||||||
+ Including securities loaned at value | $ | — | $ | — | $ | 7,969,306 | $ | — | ||||||||||
* Cost of investments in securities | $ | 4,581,626 | $ | 708,632,654 | $ | 195,687,701 | $ | 45,472,335 | ||||||||||
** Cost of investments in affiliated underlying funds | $ | 87,838,597 | $ | — | $ | — | $ | — | ||||||||||
*** Cost of short-term investments | $ | — | $ | 41,189,110 | $ | 15,326,588 | $ | 1,361,000 | ||||||||||
**** Cost of foreign currencies | $ | — | $ | 291,388 | $ | — | $ | 7,823 | ||||||||||
***** Cost of payable for foreign cash collateral for futures | $ | — | $ | 186,409 | $ | — | $ | — | ||||||||||
ˆ Premiums received on written options | $ | — | $ | 1,010,367 | $ | — | $ | — |
ING Diversified International Fund | ING Global Bond Fund | ING Global Value Choice Fund | ING Index Plus International Equity Fund | ||||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Class A | |||||||||||||||||||
Net assets | $ | 46,504,207 | $ | 219,276,390 | $ | 82,688,287 | $ | 6,600,300 | |||||||||||
Shares authorized | unlimited | unlimited | unlimited | unlimited | |||||||||||||||
Par value | $ | — | $ | — | $ | — | $ | — | |||||||||||
Shares outstanding | 5,195,945 | 18,860,103 | 3,126,883 | 834,423 | |||||||||||||||
Net asset value and redemption price per share | $ | 8.95 | $ | 11.63 | $ | 26.44 | $ | 7.91 | |||||||||||
Maximum offering price per share (5.75%)(1) | $ | 9.50 | $ | 11.93 | (2) | $ | 28.05 | $ | 8.39 | ||||||||||
Class B | |||||||||||||||||||
Net assets | $ | 7,795,455 | $ | 1,586,741 | $ | 3,256,483 | $ | 284,246 | |||||||||||
Shares authorized | unlimited | unlimited | unlimited | unlimited | |||||||||||||||
Par value | $ | — | $ | — | $ | — | $ | — | |||||||||||
Shares outstanding | 873,888 | 137,805 | 114,561 | 35,655 | |||||||||||||||
Net asset value and redemption price per share† | $ | 8.92 | $ | 11.51 | $ | 28.43 | $ | 7.97 | |||||||||||
Class C | |||||||||||||||||||
Net assets | $ | 27,902,869 | $ | 109,381,211 | $ | 52,627,761 | $ | 932,717 | |||||||||||
Shares authorized | unlimited | unlimited | unlimited | unlimited | |||||||||||||||
Par value | $ | — | $ | — | $ | — | $ | — | |||||||||||
Shares outstanding | 3,135,080 | 9,464,015 | 2,133,490 | 118,461 | |||||||||||||||
Net asset value and redemption price per share† | $ | 8.90 | $ | 11.56 | $ | 24.67 | $ | 7.87 | |||||||||||
Class I | |||||||||||||||||||
Net assets | $ | 9,953,490 | $ | 437,620,009 | $ | 30,701,461 | $ | 12,016,674 | |||||||||||
Shares authorized | unlimited | unlimited | unlimited | unlimited | |||||||||||||||
Par value | $ | — | $ | — | $ | — | $ | — | |||||||||||
Shares outstanding | 1,115,198 | 37,762,968 | 1,150,187 | 1,513,181 | |||||||||||||||
Net asset value and redemption price per share | $ | 8.93 | $ | 11.59 | $ | 26.69 | $ | 7.94 | |||||||||||
Class O | |||||||||||||||||||
Net assets | $ | 3,833,426 | $ | 4,116,980 | $ | n/a | $ | 36,545,642 | |||||||||||
Shares authorized | unlimited | unlimited | n/a | unlimited | |||||||||||||||
Par value | $ | — | $ | — | $ | n/a | $ | — | |||||||||||
Shares outstanding | 431,993 | 360,637 | n/a | 4,655,074 | |||||||||||||||
Net asset value and redemption price per share | $ | 8.87 | $ | 11.42 | $ | n/a | $ | 7.85 | |||||||||||
Class R | |||||||||||||||||||
Net assets | $ | 95,664 | $ | 275,860 | $ | n/a | $ | n/a | |||||||||||
Shares authorized | unlimited | unlimited | n/a | n/a | |||||||||||||||
Par value | $ | — | $ | — | $ | n/a | $ | n/a | |||||||||||
Shares outstanding | 10,817 | 23,761 | n/a | n/a | |||||||||||||||
Net asset value and redemption price per share | $ | 8.84 | $ | 11.61 | $ | n/a | $ | n/a | |||||||||||
Class W | |||||||||||||||||||
Net assets | $ | 647,003 | $ | 31,723,440 | $ | 8,307,664 | $ | 2,994 | |||||||||||
Shares authorized | unlimited | unlimited | unlimited | unlimited | |||||||||||||||
Par value | $ | — | $ | — | $ | — | $ | — | |||||||||||
Shares outstanding | 72,713 | 2,780,105 | 311,266 | 378 | |||||||||||||||
Net asset value and redemption price per share | $ | 8.90 | $ | 11.41 | $ | 26.69 | $ | 7.91 | |||||||||||
(1) 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. | |||||||||||||||||||
(2) 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 offering price is reduced. | |||||||||||||||||||
† Redemption price per share may be reduced for any applicable contingent deferred sales charges. |
ING International Small Cap Fund | ING International Value Choice Fund | ING International Value Fund | ING Russia Fund | |||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
ASSETS: | ||||||||||||||||||
Investments in securities at fair value+* | $ | 237,048,043 | $ | 22,714,166 | $ | 474,776,654 | $ | 244,109,043 | ||||||||||
Short-term investments at fair value** | 2,354,582 | 203,586 | 7,624,498 | 14,079,810 | ||||||||||||||
Total Investments at fair value | 239,402,625 | 22,917,752 | 482,401,152 | 258,188,853 | ||||||||||||||
Cash | 3,001,730 | — | 356,238 | 2,165,823 | ||||||||||||||
Foreign currencies at value*** | 933,146 | — | — | 321,427 | ||||||||||||||
Receivables: | ||||||||||||||||||
Investments securities sold | 2,344,644 | 138,342 | 2,234,440 | 211,930 | ||||||||||||||
Fund shares sold | 37,792 | 629 | 122,267 | 36,097 | ||||||||||||||
Dividends | 634,021 | 70,675 | 2,397,305 | 230,576 | ||||||||||||||
Interest | 19,139 | — | — | — | ||||||||||||||
Foreign tax reclaims | 267,149 | 17,471 | 2,204,197 | — | ||||||||||||||
Prepaid expenses | 26,940 | 11,092 | 23,135 | 19,200 | ||||||||||||||
Reimbursement due from manager | — | 9,979 | — | — | ||||||||||||||
Total assets | 246,667,186 | 23,165,940 | 489,738,734 | 261,173,906 | ||||||||||||||
LIABILITIES: | ||||||||||||||||||
Payable for investment securities purchased | 1,778,317 | 65,453 | 2,150,223 | 840,819 | ||||||||||||||
Payable for fund shares redeemed | 564,319 | 12,891 | 2,895,579 | 1,129,374 | ||||||||||||||
Payable upon receipt of securities loaned | 1,722,019 | — | 700,066 | 14,079,810 | ||||||||||||||
Payable for investment management fees | 201,301 | 17,990 | 422,608 | 268,981 | ||||||||||||||
Payable for administrative fees | 20,646 | 1,999 | 41,530 | 21,518 | ||||||||||||||
Payable for shareholder service and distribution fees | 43,948 | 6,635 | 135,410 | 51,848 | ||||||||||||||
Payable to custodian due to foreign currency overdraft**** | — | — | 305,746 | — | ||||||||||||||
Payable for trustee fees | 1,275 | 135 | 2,817 | 1,309 | ||||||||||||||
Other accrued expenses and liabilities | 162,131 | 36,516 | 501,202 | 418,772 | ||||||||||||||
Total liabilities | 4,493,956 | 141,619 | 7,155,181 | 16,812,431 | ||||||||||||||
NET ASSETS | $ | 242,173,230 | $ | 23,024,321 | $ | 482,583,553 | $ | 244,361,475 | ||||||||||
NET ASSETS WERE COMPRISED OF: | ||||||||||||||||||
Paid-in capital | $ | 508,805,937 | $ | 42,340,181 | $ | 1,470,980,819 | $ | 292,718,839 | ||||||||||
Undistributed net investment income | 4,269,957 | 365,448 | 11,361,011 | 973,892 | ||||||||||||||
Accumulated net realized loss | (284,943,090 | ) | (18,555,421 | ) | (965,218,112 | ) | (100,262,420 | ) | ||||||||||
Net unrealized appreciation (depreciation) | 14,040,426 | (1,125,887 | ) | (34,540,165 | ) | 50,931,164 | ||||||||||||
NET ASSETS | $ | 242,173,230 | $ | 23,024,321 | $ | 482,583,553 | $ | 244,361,475 | ||||||||||
+ Including securities loaned at value | $ | 1,621,307 | $ | — | $ | 650,310 | $ | 13,619,804 | ||||||||||
* Cost of investments in securities | $ | 222,991,398 | $ | 23,837,336 | $ | 509,403,588 | $ | 193,181,646 | ||||||||||
** Cost of short-term investments | $ | 2,354,582 | $ | 203,586 | $ | 7,624,498 | $ | 14,079,810 | ||||||||||
*** Cost of foreign currencies | $ | 925,780 | $ | — | $ | — | $ | 317,659 | ||||||||||
**** Cost of foreign currency overdraft | $ | — | $ | — | $ | 306,120 | $ | — |
ING International Small Cap Fund | ING International Value Choice Fund | ING International Value Fund | ING Russia Fund | ||||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Class A | |||||||||||||||||||
Net assets | $ | 81,948,237 | $ | 18,558,722 | $ | 185,195,129 | $ | 235,621,954 | |||||||||||
Shares authorized | unlimited | unlimited | unlimited | unlimited | |||||||||||||||
Par value | $ | — | $ | — | $ | — | $ | — | |||||||||||
Shares outstanding | 2,210,338 | 2,017,734 | 17,798,578 | 7,494,572 | |||||||||||||||
Net asset value and redemption price per share | $ | 37.07 | $ | 9.20 | $ | 10.41 | $ | 31.44 | |||||||||||
Maximum offering price per share (5.75%)(1) | $ | 39.33 | $ | 9.76 | $ | 11.05 | $ | 33.36 | |||||||||||
Class B | |||||||||||||||||||
Net assets | $ | 1,887,773 | $ | 325,110 | $ | 634,539 | $ | n/a | |||||||||||
Shares authorized | unlimited | unlimited | unlimited | n/a | |||||||||||||||
Par value | $ | — | $ | — | $ | — | $ | n/a | |||||||||||
Shares outstanding | 48,252 | 35,741 | 60,537 | n/a | |||||||||||||||
Net asset value and redemption price per share | $ | 39.12 | $ | 9.10 | $ | 10.48 | $ | n/a | |||||||||||
Class C | |||||||||||||||||||
Net assets | $ | 20,350,728 | $ | 2,642,299 | $ | 101,301,106 | $ | n/a | |||||||||||
Shares authorized | unlimited | unlimited | unlimited | n/a | |||||||||||||||
Par value | $ | — | $ | — | $ | — | $ | n/a | |||||||||||
Shares outstanding | 589,802 | 291,336 | 10,061,933 | n/a | |||||||||||||||
Net asset value and redemption price per share | $ | 34.50 | $ | 9.07 | $ | 10.07 | $ | n/a | |||||||||||
Class I | |||||||||||||||||||
Net assets | $ | 100,952,305 | $ | 1,425,363 | $ | 195,303,770 | $ | 8,675,093 | |||||||||||
Shares authorized | unlimited | unlimited | unlimited | unlimited | |||||||||||||||
Par value | $ | — | $ | — | $ | — | $ | — | |||||||||||
Shares outstanding | 2,718,063 | 154,998 | 18,806,872 | 273,141 | |||||||||||||||
Net asset value and redemption price per share | $ | 37.14 | $ | 9.20 | $ | 10.38 | $ | 31.76 | |||||||||||
Class O | |||||||||||||||||||
Net assets | $ | 1,573,406 | $ | n/a | $ | n/a | $ | n/a | |||||||||||
Shares authorized | unlimited | n/a | n/a | n/a | |||||||||||||||
Par value | $ | — | $ | n/a | $ | n/a | $ | n/a | |||||||||||
Shares outstanding | 42,811 | n/a | n/a | n/a | |||||||||||||||
Net asset value and redemption price per share | $ | 36.75 | $ | n/a | $ | n/a | $ | n/a | |||||||||||
Class W | |||||||||||||||||||
Net assets | $ | 35,460,781 | $ | 72,827 | $ | 149,009 | $ | 64,428 | |||||||||||
Shares authorized | unlimited | unlimited | unlimited | unlimited | |||||||||||||||
Par value | $ | — | $ | — | $ | — | $ | — | |||||||||||
Shares outstanding | 803,851 | 7,911 | 14,359 | 2,031 | |||||||||||||||
Net asset value and redemption price per share | $ | 44.11 | $ | 9.21 | $ | 10.38 | $ | 31.72 | |||||||||||
(1) 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 contingent deferred sales charges. |
ING Diversified International Fund | ING Global Bond Fund | ING Global Value Choice Fund | ING Index Plus International Equity Fund | |||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
INVESTMENT INCOME: | ||||||||||||||||||
Dividends from affiliated underlying funds | $ | 2,104,235 | $ | — | $ | — | $ | — | ||||||||||
Dividends, net of foreign taxes withheld* | — | 12,400 | 8,716,065 | 3,230,687 | ||||||||||||||
Interest, net of foreign taxes withheld* | — | 30,674,196 | — | 390 | ||||||||||||||
Securities lending income, net | — | — | 94,594 | — | ||||||||||||||
Total investment income | 2,104,235 | 30,686,596 | 8,810,659 | 3,231,077 | ||||||||||||||
EXPENSES: | ||||||||||||||||||
Investment management fees | — | 2,786,663 | 3,262,789 | 461,780 | ||||||||||||||
Distribution and service fees: | ||||||||||||||||||
Class A | 129,151 | 529,096 | 365,780 | 17,129 | ||||||||||||||
Class B | 87,061 | 18,156 | 43,546 | 3,147 | ||||||||||||||
Class C | 325,112 | 1,000,622 | 908,876 | 9,659 | ||||||||||||||
Class O | 9,273 | 10,198 | — | 91,407 | ||||||||||||||
Class R | 446 | 776 | — | — | ||||||||||||||
Transfer agent fees: | ||||||||||||||||||
Class A | 89,211 | 165,055 | 224,236 | 17,129 | ||||||||||||||
Class B | 14,495 | 1,416 | 6,693 | 787 | ||||||||||||||
Class C | 57,445 | 78,209 | 139,329 | 2,415 | ||||||||||||||
Class I | 17,767 | 98,843 | 88,081 | 10,943 | ||||||||||||||
Class O | 6,102 | 3,183 | — | 91,407 | ||||||||||||||
Class R | 172 | 135 | — | — | ||||||||||||||
Class W | 1,457 | 21,052 | 25,365 | 7 | ||||||||||||||
Administrative service fees | 108,029 | 696,657 | 365,430 | 83,959 | ||||||||||||||
Shareholder reporting expense | 61,485 | 95,145 | 67,950 | 14,665 | ||||||||||||||
Registration fees | 102,474 | 158,066 | 113,983 | 92,272 | ||||||||||||||
Professional fees | 20,532 | 99,085 | 72,390 | 25,427 | ||||||||||||||
Custody and accounting expense | 25,278 | 299,625 | 339,173 | 107,225 | ||||||||||||||
Trustee fees | 3,241 | 20,900 | 10,963 | 2,519 | ||||||||||||||
Miscellaneous expense | 14,430 | 40,598 | 40,390 | 7,008 | ||||||||||||||
Interest expense | 82 | 3,373 | 13,151 | 1,166 | ||||||||||||||
Total expenses | 1,073,243 | 6,126,853 | 6,088,125 | 1,040,051 | ||||||||||||||
Net waived and reimbursed fees | (244,615 | ) | (205,867 | ) | (173,501 | ) | (248,446 | ) | ||||||||||
Brokerage commission recapture | — | — | (125,298 | ) | — | |||||||||||||
Net expenses | 828,628 | 5,920,986 | 5,789,326 | 791,605 | ||||||||||||||
Net investment income | 1,275,607 | 24,765,610 | 3,021,333 | 2,439,472 | ||||||||||||||
REALIZED AND UNREALIZED GAIN (LOSS): | ||||||||||||||||||
Net realized gain (loss) on: | ||||||||||||||||||
Investments | (442,638 | ) | 13,191,506 | (34,747,981 | ) | (2,282,706 | ) | |||||||||||
Capital gain distributions from affiliated underlying funds | 180,357 | — | — | — | ||||||||||||||
Capital gain distributions from unaffiliated underlying funds | — | — | 133 | — | ||||||||||||||
Foreign currency related transactions | — | (12,264,578 | ) | (84,549 | ) | (66,052 | ) | |||||||||||
Futures | — | 8,405,748 | — | 361,998 | ||||||||||||||
Swaps | — | (20,509,389 | ) | — | — | |||||||||||||
Written options | — | 3,150,527 | — | — | ||||||||||||||
Net realized loss | (262,281 | ) | (8,026,186 | ) | (34,832,397 | ) | (1,986,760 | ) | ||||||||||
Net change in unrealized appreciation (depreciation) on: | ||||||||||||||||||
Investments | — | 15,862,350 | (7,523,856 | ) | 3,055,318 | |||||||||||||
Affiliated underlying funds | 3,400,195 | — | — | — | ||||||||||||||
Foreign currency related transactions | — | 4,073,964 | 25,343 | 37,642 | ||||||||||||||
Futures | — | (743,452 | ) | — | (218,858 | ) | ||||||||||||
Swaps | — | 1,813,888 | — | — | ||||||||||||||
Written options | — | 521,404 | — | — | ||||||||||||||
Net change in unrealized appreciation (depreciation) | 3,400,195 | 21,528,154 | (7,498,513 | ) | 2,874,102 | |||||||||||||
Net realized and unrealized gain (loss) | 3,137,914 | 13,501,968 | (42,330,910 | ) | 887,342 | |||||||||||||
Increase (decrease) in net assets resulting from operations | $ | 4,413,521 | $ | 38,267,578 | $ | (39,309,577 | ) | $ | 3,326,814 | |||||||||
* Foreign taxes withheld | $ | — | $ | 1,245 | $ | 771,600 | $ | 250,891 |
ING International Small Cap Fund | ING International Value Choice Fund | ING International Value Fund | ING Russia Fund | |||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
INVESTMENT INCOME: | ||||||||||||||||||
Dividends, net of foreign taxes withheld* | $ | 7,343,189 | $ | 866,059 | $ | 20,686,699 | $ | 6,940,527 | ||||||||||
Interest, net of foreign taxes withheld* | 52,684 | — | — | 17,748 | ||||||||||||||
Securities lending income, net | 39,294 | — | 10,172 | 242,769 | ||||||||||||||
Total investment income | 7,435,167 | 866,059 | 20,696,871 | 7,201,044 | ||||||||||||||
EXPENSES: | ||||||||||||||||||
Investment management fees | 2,549,602 | 269,966 | 5,635,284 | 3,499,951 | ||||||||||||||
Distribution and service fees: | ||||||||||||||||||
Class A | 310,242 | 47,498 | 696,684 | 672,252 | ||||||||||||||
Class B | 21,162 | 4,081 | 9,908 | — | ||||||||||||||
Class C | 214,872 | 36,122 | 1,147,231 | — | ||||||||||||||
Class O | 3,741 | — | — | — | ||||||||||||||
Transfer agent fees: | ||||||||||||||||||
Class A | 144,681 | 31,289 | 420,419 | 537,924 | ||||||||||||||
Class B | 3,397 | 671 | 1,769 | — | ||||||||||||||
Class C | 35,179 | 5,940 | 208,532 | — | ||||||||||||||
Class I | 39,800 | 5,524 | 88,022 | 30,380 | ||||||||||||||
Class O | 2,520 | — | — | — | ||||||||||||||
Class W | 52,644 | 2,181 | 453 | 60 | ||||||||||||||
Administrative service fees | 254,957 | 26,996 | 563,520 | 279,992 | ||||||||||||||
Shareholder reporting expense | 28,004 | 3,217 | 35,300 | 47,623 | ||||||||||||||
Registration fees | 97,984 | 73,986 | 82,302 | 59,715 | ||||||||||||||
Professional fees | 56,920 | 14,644 | 57,277 | 56,901 | ||||||||||||||
Custody and accounting expense | 181,915 | 18,146 | 243,998 | 747,620 | ||||||||||||||
Trustee fees | 7,649 | 810 | 16,906 | 8,400 | ||||||||||||||
Miscellaneous expense | 12,283 | 2,883 | 48,054 | 24,926 | ||||||||||||||
Interest expense | 379 | 451 | 6,844 | 761 | ||||||||||||||
Total expenses | 4,017,931 | 544,405 | 9,262,503 | 5,966,505 | ||||||||||||||
Net waived and reimbursed fees | (70,231 | ) | (101,938 | ) | (311,357 | ) | — | |||||||||||
Brokerage commission recapture | — | (7,892 | ) | (14,780 | ) | — | ||||||||||||
Net expenses | 3,947,700 | 434,575 | 8,936,366 | 5,966,505 | ||||||||||||||
Net investment income | 3,487,467 | 431,484 | 11,760,505 | 1,234,539 | ||||||||||||||
REALIZED AND UNREALIZED GAIN (LOSS): | ||||||||||||||||||
Net realized gain (loss) on: | ||||||||||||||||||
Investments | (890,097 | ) | (2,434,613 | ) | (57,501,709 | ) | (2,260,423 | ) | ||||||||||
Foreign currency related transactions | 5,454 | (14,188 | ) | (126,062 | ) | (253,681 | ) | |||||||||||
Net realized loss | (884,643 | ) | (2,448,801 | ) | (57,627,771 | ) | (2,514,104 | ) | ||||||||||
Net change in unrealized appreciation (depreciation) on: | ||||||||||||||||||
Investments | 10,612,956 | 108,749 | 44,413,167 | (19,717,659 | ) | |||||||||||||
Foreign currency related transactions | 6,402 | 124 | (144,074 | ) | 61,435 | |||||||||||||
Net change in unrealized appreciation (depreciation) | 10,619,358 | 108,873 | 44,269,093 | (19,656,224 | ) | |||||||||||||
Net realized and unrealized gain (loss) | 9,734,715 | (2,339,928 | ) | (13,358,678 | ) | (22,170,328 | ) | |||||||||||
Increase (decrease) in net assets resulting from operations | $ | 13,222,182 | $ | (1,908,444 | ) | $ | (1,598,173 | ) | $ | (20,935,789 | ) | |||||||
* Foreign taxes withheld | $ | 507,684 | $ | 93,106 | $ | 2,010,263 | $ | 1,239,358 |
ING Diversified International Fund | ING Global Bond Fund | ||||||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Year Ended October 31, 2012 | Year Ended October 31, 2011 | Year Ended October 31, 2012 | Year Ended October 31, 2011 | ||||||||||||||||
FROM OPERATIONS: | |||||||||||||||||||
Net investment income | $ | 1,275,607 | $ | 1,061,111 | $ | 24,765,610 | $ | 21,852,387 | |||||||||||
Net realized gain (loss) | (262,281 | ) | 18,677,621 | (8,026,186 | ) | 16,073,329 | |||||||||||||
Net change in unrealized appreciation (depreciation) | 3,400,195 | (28,118,960 | ) | 21,528,154 | (32,404,908 | ) | |||||||||||||
Increase (decrease) in net assets resulting from operations | 4,413,521 | (8,380,228 | ) | 38,267,578 | 5,520,808 | ||||||||||||||
FROM DISTRIBUTIONS TO SHAREHOLDERS: | |||||||||||||||||||
Net investment income: | |||||||||||||||||||
Class A | (702,513 | ) | (849,416 | ) | (2,973,693 | ) | (10,319,094 | ) | |||||||||||
Class B | (25,317 | ) | (6,446 | ) | (10,812 | ) | (123,842 | ) | |||||||||||
Class C | (95,652 | ) | (41,009 | ) | (453,531 | ) | (3,634,043 | ) | |||||||||||
Class I | (173,157 | ) | (101,208 | ) | (4,757,431 | ) | (12,386,732 | ) | |||||||||||
Class O | (47,020 | ) | (31,234 | ) | (51,069 | ) | (182,335 | ) | |||||||||||
Class R | (1,361 | ) | (1,151 | ) | (592 | ) | (28 | ) | |||||||||||
Class W | (14,983 | ) | (30,647 | ) | (379,070 | ) | (781,331 | ) | |||||||||||
Net realized gains: | |||||||||||||||||||
Class A | — | — | (9,453,922 | ) | (1,887,005 | ) | |||||||||||||
Class B | — | — | (77,080 | ) | (32,368 | ) | |||||||||||||
Class C | — | — | (3,749,885 | ) | (837,018 | ) | |||||||||||||
Class I | — | — | (11,707,244 | ) | (2,007,676 | ) | |||||||||||||
Class O | — | — | (159,667 | ) | (33,672 | ) | |||||||||||||
Class R | — | — | (3,022 | ) | (2 | ) | |||||||||||||
Class W | — | — | (986,134 | ) | (135,360 | ) | |||||||||||||
Return of capital: | |||||||||||||||||||
Class A | — | (101,282 | ) | (2,892,533 | ) | — | |||||||||||||
Class B | — | (16,186 | ) | (26,356 | ) | — | |||||||||||||
Class C | — | (58,887 | ) | (1,459,959 | ) | — | |||||||||||||
Class I | — | (8,943 | ) | (5,236,765 | ) | — | |||||||||||||
Class O | — | (3,222 | ) | (60,046 | ) | — | |||||||||||||
Class R | — | (181 | ) | (2,655 | ) | — | |||||||||||||
Class W | — | (2,634 | ) | (400,311 | ) | — | |||||||||||||
Total distributions | (1,060,003 | ) | (1,252,446 | ) | (44,841,777 | ) | (32,360,506 | ) | |||||||||||
FROM CAPITAL SHARE TRANSACTIONS: | |||||||||||||||||||
Net proceeds from sale of shares | 6,351,082 | 22,363,258 | 509,177,465 | 391,678,723 | |||||||||||||||
Reinvestment of distributions | 865,547 | 1,031,590 | 37,756,214 | 28,050,981 | |||||||||||||||
7,216,629 | 23,394,848 | 546,933,679 | 419,729,704 | ||||||||||||||||
Cost of shares redeemed | (40,900,474 | ) | (79,537,970 | ) | (371,164,423 | ) | (284,914,258 | ) | |||||||||||
Net increase (decrease) in net assets resulting from capital share transactions | (33,683,845 | ) | (56,143,122 | ) | 175,769,256 | 134,815,446 | |||||||||||||
Net increase (decrease) in net assets | (30,330,327 | ) | (65,775,796 | ) | 169,195,057 | 107,975,748 | |||||||||||||
NET ASSETS: | |||||||||||||||||||
Beginning of year or period | 127,062,441 | 192,838,237 | 634,785,574 | 526,809,826 | |||||||||||||||
End of year or period | $ | 96,732,114 | $ | 127,062,441 | $ | 803,980,631 | $ | 634,785,574 | |||||||||||
Undistributed (distributions in excess of) net investment income at end of year or period | $ | 343,923 | $ | (3,478 | ) | $ | (3,407,671 | ) | $ | 396,522 |
ING Global Value Choice Fund | ING Index Plus International Equity Fund | ||||||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Year Ended October 31, 2012 | Year Ended October 31, 2011 | Year Ended October 31, 2012 | Year Ended October 31, 2011 | ||||||||||||||||
FROM OPERATIONS: | |||||||||||||||||||
Net investment income | $ | 3,021,333 | $ | 4,470,605 | $ | 2,439,472 | $ | 2,130,084 | |||||||||||
Net realized gain (loss) | (34,832,397 | ) | 72,126,776 | (1,986,760 | ) | 7,773,885 | |||||||||||||
Net change in unrealized appreciation (depreciation) | (7,498,513 | ) | (72,744,924 | ) | 2,874,102 | (10,985,298 | ) | ||||||||||||
Increase (decrease) in net assets resulting from operations | (39,309,577 | ) | 3,852,457 | 3,326,814 | (1,081,329 | ) | |||||||||||||
FROM DISTRIBUTIONS TO SHAREHOLDERS: | |||||||||||||||||||
Net investment income: | |||||||||||||||||||
Class A | (2,085,360 | ) | (3,111,531 | ) | (172,400 | ) | (119,991 | ) | |||||||||||
Class B | — | (43,014 | ) | (4,426 | ) | (2,716 | ) | ||||||||||||
Class C | (366,940 | ) | (1,315,055 | ) | (15,082 | ) | (5,994 | ) | |||||||||||
Class I | (2,716,720 | ) | (2,957,286 | ) | (1,376,087 | ) | (1,354,511 | ) | |||||||||||
Class O | — | — | (927,783 | ) | (609,056 | ) | |||||||||||||
Class W | (288,923 | ) | (584,591 | ) | (83 | ) | — | ||||||||||||
Net realized gains: | |||||||||||||||||||
Class A | (20,838,644 | ) | — | — | — | ||||||||||||||
Class B | (485,497 | ) | — | — | — | ||||||||||||||
Class C | (13,221,207 | ) | — | — | — | ||||||||||||||
Class I | (19,281,134 | ) | — | — | — | ||||||||||||||
Class W | (2,277,810 | ) | — | — | — | ||||||||||||||
Total distributions | (61,562,235 | ) | (8,011,477 | ) | (2,495,861 | ) | (2,092,268 | ) | |||||||||||
FROM CAPITAL SHARE TRANSACTIONS: | |||||||||||||||||||
Net proceeds from sale of shares | 54,481,797 | 389,319,314 | 10,801,680 | 51,836,203 | |||||||||||||||
Payment from distribution/payment by affiliate | 364,932 | — | — | — | |||||||||||||||
Reinvestment of distributions | 36,770,617 | 4,386,066 | 1,596,949 | 1,504,647 | |||||||||||||||
91,617,346 | 393,705,380 | 12,398,629 | 53,340,850 | ||||||||||||||||
Cost of shares redeemed | (453,328,903 | ) | (243,707,957 | ) | (51,575,951 | ) | (93,789,046 | ) | |||||||||||
Net increase (decrease) in net assets resulting from capital share transactions | (361,711,557 | ) | 149,997,423 | (39,177,322 | ) | (40,448,196 | ) | ||||||||||||
Net increase (decrease) in net assets | (462,583,369 | ) | 145,838,403 | (38,346,369 | ) | (43,621,793 | ) | ||||||||||||
NET ASSETS: | |||||||||||||||||||
Beginning of year or period | 640,165,025 | 494,326,622 | 94,728,942 | 138,350,735 | |||||||||||||||
End of year or period | $ | 177,581,656 | $ | 640,165,025 | $ | 56,382,573 | $ | 94,728,942 | |||||||||||
Undistributed net investment income at end of year or period | $ | 678,384 | $ | 4,867,897 | $ | 2,410,014 | $ | 2,285,357 |
ING International Small Cap Fund | ING International Value Choice Fund | ||||||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Year Ended October 31, 2012 | Year Ended October 31, 2011 | Year Ended October 31, 2012 | Year Ended October 31, 2011 | ||||||||||||||||
FROM OPERATIONS: | |||||||||||||||||||
Net investment income | $ | 3,487,467 | $ | 4,194,520 | $ | 431,484 | $ | 729,357 | |||||||||||
Net realized gain (loss) | (884,643 | ) | 44,928,242 | (2,448,801 | ) | (265,944 | ) | ||||||||||||
Net change in unrealized appreciation (depreciation) | 10,619,358 | (62,985,420 | ) | 108,873 | (4,469,597 | ) | |||||||||||||
Increase (decrease) in net assets resulting from operations | 13,222,182 | (13,862,658 | ) | (1,908,444 | ) | (4,006,184 | ) | ||||||||||||
FROM DISTRIBUTIONS TO SHAREHOLDERS: | |||||||||||||||||||
Net investment income: | |||||||||||||||||||
Class A | (1,557,769 | ) | (540,772 | ) | (562,622 | ) | (190,808 | ) | |||||||||||
Class B | (10,775 | ) | (56 | ) | (7,167 | ) | — | ||||||||||||
Class C | (230,441 | ) | (572 | ) | (80,404 | ) | (12,953 | ) | |||||||||||
Class I | (3,055,854 | ) | (1,827,105 | ) | (122,252 | ) | (187,574 | ) | |||||||||||
Class O | (25,934 | ) | (6,464 | ) | — | — | |||||||||||||
Class W | (458,648 | ) | (240,091 | ) | (1,980 | ) | (516 | ) | |||||||||||
Total distributions | (5,339,421 | ) | (2,615,060 | ) | (774,425 | ) | (391,851 | ) | |||||||||||
FROM CAPITAL SHARE TRANSACTIONS: | |||||||||||||||||||
Net proceeds from sale of shares | 29,267,070 | 79,921,323 | 13,499,438 | 22,439,247 | |||||||||||||||
Payment from distribution/payment by affiliate | 821,983 | 136,362 | — | — | |||||||||||||||
Reinvestment of distributions | 3,263,088 | 1,515,427 | 677,136 | 351,441 | |||||||||||||||
33,352,141 | 81,573,112 | 14,176,574 | 22,790,688 | ||||||||||||||||
Cost of shares redeemed | (106,730,639 | ) | (192,605,155 | ) | (18,392,169 | ) | (35,264,069 | ) | |||||||||||
Net decrease in net assets resulting from capital share transactions | (73,378,498 | ) | (111,032,043 | ) | (4,215,595 | ) | (12,473,381 | ) | |||||||||||
Net decrease in net assets | (65,495,737 | ) | (127,509,761 | ) | (6,898,464 | ) | (16,871,416 | ) | |||||||||||
NET ASSETS: | |||||||||||||||||||
Beginning of year or period | 307,668,967 | 435,178,728 | 29,922,785 | 46,794,201 | |||||||||||||||
End of year or period | $ | 242,173,230 | $ | 307,668,967 | $ | 23,024,321 | $ | 29,922,785 | |||||||||||
Undistributed net investment income at end of year or period | $ | 4,269,957 | $ | 4,023,061 | $ | 365,448 | $ | 725,238 |
ING International Value Fund | ING Russia Fund | ||||||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Year Ended October 31, 2012 | Year Ended October 31, 2011 | Year Ended October 31, 2012 | Year Ended October 31, 2011 | ||||||||||||||||
FROM OPERATIONS: | |||||||||||||||||||
Net investment income (loss) | $ | 11,760,505 | $ | 16,501,957 | $ | 1,234,539 | $ | (1,256,315 | ) | ||||||||||
Net realized gain (loss) | (57,627,771 | ) | (15,527,252 | ) | (2,514,104 | ) | 1,651,353 | ||||||||||||
Net change in unrealized appreciation (depreciation) | 44,269,093 | (63,706,978 | ) | (19,656,224 | ) | (29,282,257 | ) | ||||||||||||
Decrease in net assets resulting from operations | (1,598,173 | ) | (62,732,273 | ) | (20,935,789 | ) | (28,887,219 | ) | |||||||||||
FROM DISTRIBUTIONS TO SHAREHOLDERS: | |||||||||||||||||||
Net investment income: | |||||||||||||||||||
Class A | (7,601,085 | ) | (10,059,110 | ) | — | — | |||||||||||||
Class B | (20,538 | ) | (81 | ) | — | — | |||||||||||||
Class C | (2,495,707 | ) | (2,824,431 | ) | — | — | |||||||||||||
Class I | (7,967,223 | ) | (9,798,033 | ) | — | — | |||||||||||||
Class W | (9,108 | ) | (545,238 | ) | — | — | |||||||||||||
Total distributions | (18,093,661 | ) | (23,226,893 | ) | — | — | |||||||||||||
FROM CAPITAL SHARE TRANSACTIONS: | |||||||||||||||||||
Net proceeds from sale of shares | 36,063,881 | 158,710,188 | 24,129,463 | 62,067,223 | |||||||||||||||
Payment from distribution/payment by affiliate | 860,591 | 115,624 | — | — | |||||||||||||||
Reinvestment of distributions | 14,532,214 | 18,121,879 | — | — | |||||||||||||||
51,456,686 | 176,947,691 | 24,129,463 | 62,067,223 | ||||||||||||||||
Redemption fee proceeds | — | — | 133,331 | 217,940 | |||||||||||||||
Cost of shares redeemed | (252,961,793 | ) | (623,758,163 | ) | (87,210,483 | ) | (131,466,024 | ) | |||||||||||
Net decrease in net assets resulting from capital share transactions | (201,505,107 | ) | (446,810,472 | ) | (62,947,689 | ) | (69,180,861 | ) | |||||||||||
Net decrease in net assets | (221,196,941 | ) | (532,769,638 | ) | (83,883,478 | ) | (98,068,080 | ) | |||||||||||
NET ASSETS: | |||||||||||||||||||
Beginning of year or period | 703,780,494 | 1,236,550,132 | 328,244,953 | 426,313,033 | |||||||||||||||
End of year or period | $ | 482,583,553 | $ | 703,780,494 | $ | 244,361,475 | $ | 328,244,953 | |||||||||||
Undistributed net investment income/Accumulated net investment loss at end of year or period | $ | 11,361,011 | $ | 16,370,623 | $ | 973,892 | $ | (6,466 | ) |
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 | | Payment by affiliate | | Net asset value, end of year or period | | Total Return(1) | | Expenses before reductions/ additions(2)(3) | | 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 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
10-31-12 | 8.62 | 0.12 | 0.32 | 0.44 | 0.11 | — | — | 0.11 | — | 8.95 | 5.19 | 0.73 | 0.50 | 0.50 | 1.47 | 46,504 | 20 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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 | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Class B | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
10-31-12 | 8.57 | 0.06 | 0.31 | 0.37 | 0.02 | — | — | 0.02 | — | 8.92 | 4.37 | 1.48 | 1.25 | 1.25 | 0.70 | 7,795 | 20 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
Class C | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
10-31-12 | 8.55 | 0.06 | 0.31 | 0.37 | 0.02 | — | — | 0.02 | — | 8.90 | 4.39 | 1.48 | 1.25 | 1.25 | 0.70 | 27,903 | 20 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
Class I | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
10-31-12 | 8.61 | 0.13 | 0.32 | 0.45 | 0.13 | — | — | 0.13 | — | 8.93 | 5.43 | 0.48 | 0.25 | 0.25 | 1.63 | 9,953 | 20 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
Class O | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
10-31-12 | 8.56 | 0.11 | 0.31 | 0.42 | 0.11 | — | — | 0.11 | — | 8.87 | 5.09 | 0.73 | 0.50 | 0.50 | 1.25 | 3,833 | 20 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
10-31-12 | 8.52 | 0.13 | • | 0.28 | 0.41 | 0.09 | — | — | 0.09 | — | 8.84 | 4.87 | 0.98 | 0.75 | 0.75 | 1.53 | 96 | 20 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
Class W | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
10-31-12 | 8.58 | 0.15 | 0.30 | 0.45 | 0.13 | — | — | 0.13 | — | 8.90 | 5.48 | 0.48 | 0.25 | 0.25 | 1.86 | 647 | 20 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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 Global Bond Fund | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Class A | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
10-31-12 | 11.76 | 0.40 | • | 0.22 | 0.62 | 0.14 | 0.45 | 0.16 | 0.75 | — | 11.63 | 5.69 | 0.93 | 0.90 | 0.90 | 3.46 | 219,276 | 609 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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 |
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 | | Payment by affiliate | | Net asset value, end of year or period | | Total Return(1) | | Expenses before reductions/ additions(2)(3) | | 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 B | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
10-31-12 | 11.66 | 0.32 | • | 0.20 | 0.52 | 0.06 | 0.45 | 0.16 | 0.67 | — | 11.51 | 4.78 | 1.68 | 1.65 | 1.65 | 2.77 | 1,587 | 609 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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 | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Class C | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
10-31-12 | 11.70 | 0.32 | • | 0.21 | 0.53 | 0.06 | 0.45 | 0.16 | 0.67 | — | 11.56 | 4.86 | 1.68 | 1.65 | 1.65 | 2.77 | 109,381 | 609 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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 | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Class I | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
10-31-12 | 11.73 | 0.44 | • | 0.21 | 0.65 | 0.18 | 0.45 | 0.16 | 0.79 | — | 11.59 | 5.94 | 0.63 | 0.60 | 0.60 | 3.82 | 437,620 | 609 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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 | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Class O | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
10-31-12 | 11.57 | 0.40 | 0.21 | 0.61 | 0.15 | 0.45 | 0.16 | 0.76 | — | 11.42 | 5.62 | 0.93 | 0.90 | 0.90 | 3.52 | 4,117 | 609 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
10-31-12 | 11.75 | 0.39 | • | 0.19 | 0.58 | 0.11 | 0.45 | 0.16 | 0.72 | — | 11.61 | 5.30 | 1.18 | 1.15 | 1.15 | 3.42 | 276 | 609 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
10-31-12 | 11.56 | 0.43 | • | 0.20 | 0.63 | 0.17 | 0.45 | 0.16 | 0.78 | — | 11.41 | 5.89 | 0.68 | 0.65 | 0.65 | 3.79 | 31,723 | 609 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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 Value Choice Fund | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Class A | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
10-31-12 | 32.23 | 0.29 | • | (2.74 | ) | (2.45 | ) | 0.31 | 3.05 | — | 3.36 | 0.02 | 26.44 | (7.71 | )(a) | 1.58 | 1.51 | 1.47 | 1.05 | 82,688 | 35 | |||||||||||||||||||||||||||||||||||||||||||||||||||||
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 | |||||||||||||||||||||||||||||||||||||||||||||||||||
Class B | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
10-31-12 | 34.28 | 0.12 | • | (2.94 | ) | (2.82 | ) | — | 3.05 | — | 3.05 | 0.02 | 28.43 | (8.35 | )(a) | 2.33 | 2.26 | 2.22 | 0.42 | 3,256 | 35 | |||||||||||||||||||||||||||||||||||||||||||||||||||||
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 |
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 | | Payment by affiliate | | Net asset value, end of year or period | | Total Return(1) | | Expenses before reductions/ additions(2)(3) | | 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 (continued) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Class C | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
10-31-12 | 30.27 | 0.08 | • | (2.57 | ) | (2.49 | ) | 0.08 | 3.05 | — | 3.13 | 0.02 | 24.67 | (8.36 | )(a) | 2.33 | 2.26 | 2.22 | 0.32 | 52,628 | 35 | |||||||||||||||||||||||||||||||||||||||||||||||||||||
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 | ||||||||||||||||||||||||||||||||||||||||||||||||||
Class I | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
10-31-12 | 32.58 | 0.26 | • | (2.69 | ) | (2.43 | ) | 0.43 | 3.05 | — | 3.48 | 0.02 | 26.69 | (7.54 | )(a) | 1.26 | 1.26 | 1.22 | 0.90 | 30,701 | 35 | |||||||||||||||||||||||||||||||||||||||||||||||||||||
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 | |||||||||||||||||||||||||||||||||||||||||||||||||||
Class W | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
10-31-12 | 32.50 | 0.37 | • | (2.76 | ) | (2.39 | ) | 0.39 | 3.05 | — | 3.44 | 0.02 | 26.69 | (7.43 | )(a) | 1.33 | 1.26 | 1.22 | 1.32 | 8,308 | 35 | |||||||||||||||||||||||||||||||||||||||||||||||||||||
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 Index Plus International Equity Fund | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Class A | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
10-31-12 | 7.77 | 0.22 | 0.11 | 0.33 | 0.19 | — | — | 0.19 | — | 7.91 | 4.50 | 1.45 | 1.15 | 1.15 | 2.66 | 6,600 | 155 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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 | * | 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 | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Class B | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
10-31-12 | 7.79 | 0.14 | • | 0.13 | 0.27 | 0.09 | — | — | 0.09 | — | 7.97 | 3.65 | 2.20 | 1.90 | 1.90 | 1.87 | 284 | 155 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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 | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Class C | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
10-31-12 | 7.72 | 0.15 | 0.12 | 0.27 | 0.12 | — | — | 0.12 | — | 7.87 | 3.71 | 2.20 | 1.90 | 1.90 | 1.89 | 933 | 155 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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 | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Class I | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
10-31-12 | 7.80 | 0.24 | • | 0.12 | 0.36 | 0.22 | — | — | 0.22 | — | 7.94 | 5.04 | 0.98 | 0.68 | 0.68 | 3.24 | 12,017 | 155 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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 | 51,114 | 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 | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Class O | �� | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
10-31-12 | 7.71 | 0.21 | 0.12 | 0.33 | 0.19 | — | — | 0.19 | — | 7.85 | 4.55 | 1.45 | 1.15 | 1.15 | 2.62 | 36,546 | 155 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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 |
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 | | Payment by affiliate | | Net asset value, end of year or period | | Total Return(1) | | Expenses before reductions/ additions(2)(3) | | 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 Index Plus International Equity Fund (continued) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Class W | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
10-31-12 | 7.79 | 0.22 | 0.12 | 0.34 | 0.22 | — | — | 0.22 | — | 7.91 | 4.73 | 1.20 | 0.90 | 0.90 | 2.87 | 3 | 155 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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 | |||||||||||||||||||||||||||||||||||||||||||||||||||
ING International Small Cap Fund | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Class A | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
10-31-12 | 35.39 | 0.42 | • | 1.73 | 2.15 | 0.57 | — | — | 0.57 | 0.10 | 37.07 | 6.62 | (a) | 1.77 | 1.74 | 1.74 | 1.20 | 81,948 | 31 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
10-31-11 | 37.55 | 0.29 | • | (2.32 | ) | (2.03 | ) | 0.14 | — | — | 0.14 | 0.01 | 35.39 | (5.41 | )(a),(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 | (a),(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 | (a),(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 | )(a) | 1.70 | 1.70 | 1.70 | 1.27 | 160,896 | 84 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
Class B | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
10-31-12 | 37.10 | 0.19 | • | 1.90 | 2.09 | 0.17 | — | — | 0.17 | 0.10 | 39.12 | 5.96 | (a) | 2.42 | 2.39 | 2.39 | 0.51 | 1,888 | 31 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
10-31-11 | 39.49 | (0.00 | )*,• | (2.41 | ) | (2.41 | ) | 0.00 | * | — | — | 0.00 | * | 0.02 | 37.10 | (6.05 | )(a),(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 | (a),(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 | (a),(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 | )(a) | 2.35 | 2.35 | 2.35 | 0.45 | 11,892 | 84 | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Class C | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
10-31-12 | 32.93 | 0.18 | • | 1.63 | 1.81 | 0.33 | — | — | 0.33 | 0.09 | 34.50 | 5.94 | (a) | 2.42 | 2.39 | 2.39 | 0.55 | 20,351 | 31 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
10-31-11 | 35.04 | 0.04 | • | (2.16 | ) | (2.12 | ) | 0.00 | * | — | — | 0.00 | * | 0.01 | 32.93 | (6.02 | )(a),(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 | (a),(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 | (a),(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 | )(a) | 2.35 | 2.35 | 2.35 | 0.58 | 29,760 | 84 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
Class I | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
10-31-12 | 35.50 | 0.57 | 1.74 | 2.31 | 0.77 | — | — | 0.77 | 0.10 | 37.14 | 7.15 | (a) | 1.29 | 1.26 | 1.26 | 1.61 | 100,952 | 31 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
10-31-11 | 37.66 | 0.50 | • | (2.35 | ) | (1.85 | ) | 0.32 | — | — | 0.32 | 0.01 | 35.50 | (4.97 | )(a),(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 | (a),(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 | (a),(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 | )(a) | 1.29 | 1.29 | 1.29 | 1.71 | 139,213 | 84 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
Class O | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
10-31-12 | 35.13 | 0.50 | 1.67 | 2.17 | 0.65 | — | — | 0.65 | 0.10 | 36.75 | 6.75 | (a) | 1.67 | 1.64 | 1.64 | 1.37 | 1,573 | 31 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
10-31-11 | 37.30 | 0.39 | • | (2.37 | ) | (1.98 | ) | 0.20 | — | — | 0.20 | 0.01 | 35.13 | (5.32 | )(a),(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 | (a),(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 | (a),(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 | )(a) | 1.60 | 1.60 | 1.60 | 1.39 | 62 | 84 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Class W | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
10-31-12 | 42.00 | 0.66 | 2.05 | 2.71 | 0.72 | — | — | 0.72 | 0.12 | 44.11 | 7.02 | (a) | 1.42 | 1.39 | 1.39 | 1.61 | 35,461 | 31 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
10-31-11 | 44.49 | 0.53 | • | (2.79 | ) | (2.26 | ) | 0.25 | — | — | 0.25 | 0.02 | 42.00 | (5.08 | )(a),(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 | (a),(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 | (a),(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 | )(a) | 1.29 | 1.29 | 1.29 | 1.80 | 10,366 | 84 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
ING International Value Choice Fund | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Class A | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
10-31-12 | 10.13 | 0.16 | (0.82 | ) | (0.66 | ) | 0.27 | — | — | 0.27 | — | 9.20 | (6.42 | ) | 1.94 | 1.56 | 1.53 | 1.64 | 18,559 | 29 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
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 |
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 | | Payment by affiliate | | Net asset value, end of year or period | | Total Return(1) | | Expenses before reductions/ additions(2)(3) | | 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 Choice Fund (continued) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Class B | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
10-31-12 | 9.95 | 0.09 | • | (0.79 | ) | (0.70 | ) | 0.15 | — | — | 0.15 | — | 9.10 | (7.02 | ) | 2.69 | 2.31 | 2.28 | 0.95 | 325 | 29 | |||||||||||||||||||||||||||||||||||||||||||||||||||
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 | |||||||||||||||||||||||||||||||||||||||||||||||
Class C | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
10-31-12 | 9.96 | 0.09 | • | (0.80 | ) | (0.71 | ) | 0.18 | — | — | 0.18 | — | 9.07 | (7.06 | ) | 2.69 | 2.31 | 2.28 | 0.96 | 2,642 | 29 | |||||||||||||||||||||||||||||||||||||||||||||||||||
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 | ||||||||||||||||||||||||||||||||||||||||||||||||
Class I | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
10-31-12 | 10.14 | 0.19 | (0.83 | ) | (0.64 | ) | 0.30 | — | — | 0.30 | — | 9.20 | (6.20 | ) | 1.73 | 1.35 | 1.32 | 1.85 | 1,425 | 29 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
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 | |||||||||||||||||||||||||||||||||||||||||||||||||
Class W | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
10-31-12 | 10.14 | 0.21 | • | (0.84 | ) | (0.63 | ) | 0.30 | — | — | 0.30 | — | 9.21 | (6.11 | ) | 1.69 | 1.31 | 1.28 | 2.43 | 73 | 29 | |||||||||||||||||||||||||||||||||||||||||||||||||||
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 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
10-31-12 | 10.59 | 0.21 | • | (0.12 | ) | 0.09 | 0.28 | — | — | 0.28 | 0.01 | 10.41 | 1.20 | (a) | 1.67 | 1.61 | 1.61 | 2.05 | 185,195 | 33 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
10-31-11 | 11.78 | 0.20 | • | (1.16 | ) | (0.96 | ) | 0.23 | — | — | 0.23 | 0.00 | * | 10.59 | (8.33 | )(a),(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 | (a),(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 | (a),(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 | )(a) | 1.58 | 1.58 | † | 1.57 | † | 1.95 | † | 931,162 | 23 | |||||||||||||||||||||||||||||||||||||||||||||||||
Class B | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
10-31-12 | 10.61 | 0.13 | • | (0.11 | ) | 0.02 | 0.16 | — | — | 0.16 | 0.01 | 10.48 | 0.45 | (a) | 2.37 | 2.31 | 2.31 | 1.29 | 635 | 33 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
10-31-11 | 11.66 | 0.11 | • | (1.16 | ) | (1.05 | ) | 0.00 | * | — | — | 0.00 | * | 0.00 | * | 10.61 | (9.00 | )(a),(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 | (a),(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 | (a),(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 | )(a) | 2.28 | 2.28 | † | 2.27 | † | 1.12 | † | 85,873 | 23 | ||||||||||||||||||||||||||||||||||||||||||||||||
Class C | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
10-31-12 | 10.23 | 0.14 | • | (0.12 | ) | 0.02 | 0.19 | — | — | 0.19 | 0.01 | 10.07 | 0.51 | (a) | 2.37 | 2.31 | 2.31 | 1.38 | 101,301 | 33 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
10-31-11 | 11.40 | 0.11 | • | (1.12 | ) | (1.01 | ) | 0.16 | — | — | 0.16 | 0.00 | * | 10.23 | (8.98 | )(a),(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 | (a),(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 | (a),(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 | )(a) | 2.28 | 2.18 | † | 2.17 | † | 1.34 | † | 326,812 | 23 | |||||||||||||||||||||||||||||||||||||||||||||||||
Class I | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
10-31-12 | 10.58 | 0.27 | (0.15 | ) | 0.12 | 0.33 | — | — | 0.33 | 0.01 | 10.38 | 1.57 | (a) | 1.23 | 1.17 | 1.17 | 2.50 | 195,304 | 33 | |||||||||||||||||||||||||||||||||||||||||||||||||||||
10-31-11 | 11.77 | 0.23 | • | (1.16 | ) | (0.93 | ) | 0.26 | — | — | 0.26 | 0.00 | * | 10.58 | (8.04 | )(a),(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 | (a),(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 | (a),(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 | )(a) | 1.28 | 1.28 | † | 1.27 | † | 2.23 | † | 735,622 | 23 |
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 | | Payment by affiliate | | Net asset value, end of year or period | | Total Return(1) | | Expenses before reductions/ additions(2)(3) | | 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 W | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
10-31-12 | 10.57 | 0.26 | • | (0.15 | ) | 0.11 | 0.31 | — | — | 0.31 | 0.01 | 10.38 | 1.49 | (a) | 1.37 | 1.31 | 1.31 | 2.54 | 149 | 33 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
10-31-11 | 11.76 | 0.08 | • | (1.01 | ) | (0.93 | ) | 0.26 | — | — | 0.26 | 0.00 | * | 10.57 | (8.06 | )(a),(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 | (a),(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 | (a),(j) | 1.33 | 1.33 | † | 1.33 | † | 0.20 | † | 3 | 92 | ||||||||||||||||||||||||||||||||||||||||||||||||||
ING Russia Fund(k) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Class A | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
10-31-12 | 33.52 | 0.15 | (2.23 | ) | (2.08 | ) | — | — | — | — | — | 31.44 | (6.21 | ) | 2.14 | 2.14 | 2.14 | 0.43 | 235,622 | 46 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
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 | |||||||||||||||||||||||||||||||||||||||||||||||||
Class I | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
10-31-12 | 33.79 | 0.25 | • | (2.28 | ) | (2.03 | ) | — | — | — | — | — | 31.76 | (6.01 | ) | 1.96 | 1.96 | 1.96 | 0.77 | 8,675 | 46 | |||||||||||||||||||||||||||||||||||||||||||||||||||
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 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
10-31-12 | 33.74 | 0.47 | • | (2.49 | ) | (2.02 | ) | — | — | — | — | — | 31.72 | (5.99 | ) | 1.89 | 1.89 | 1.89 | 1.51 | 64 | 46 | |||||||||||||||||||||||||||||||||||||||||||||||||||
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. |
(a) | Excluding a distribution payment from settlement of a regulatory matter during the year ended October 31, 2012, total return for Global Value Choice would have been (7.77)%, (8.42)%, (8.43)%, (7.61)% and (7.50)% on Classes A, B, C, I and W; International Small Cap total return would have been 6.33%, 5.68%, 5.64%, 6.85%, 6.46% and 6.72% on Classes A, B, C, I, O and W; and International Value total return would have been 1.07%, 0.32%, 0.38%, 1.44% and 1.36% 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 Small Cap 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 Small Cap 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 Small Cap 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. |
(k) | For the year ended October 31, 2008, Class A redemption fees applied to capital were less than $0.005. |
• | 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. |
on exchanges, including foreign exchanges, which close earlier than the time that a Fund calculates its next net asset value (“NAV”) may also be valued at their fair values, as defined by the 1940 Act, and as determined in good faith by or under the supervision of a Fund’s Board, in accordance with methods that are specifically authorized by the Board. The valuation techniques applied in any specific instance are likely to vary from case to case. With respect to a restricted security, for example, consideration is generally given to the cost of the investment, the market value of any unrestricted securities of the same class at the time of valuation, the potential expiration of restrictions on the security, the existence of any registration rights, the costs to a Fund related to registration of the security, as well as factors relevant to the issuer itself. Consideration may also be given to the price and extent of any public trading in similar securities of the issuer or comparable companies’ securities.
(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. |
investments. For securities that are subject to foreign withholding tax upon disposition, liabilities are recorded on the Statements of Assets and Liabilities for the estimated tax withholding based on the securities’ current market value. Upon disposition, realized gains or losses on such securities are recorded net of foreign withholding tax.
conditions that may weaken their financial position. 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.
contracts and futures options to “bona fide hedging” transactions, as such term is defined in applicable regulations, interpretations and practice. A futures contract obligates the seller of the contract to deliver and the purchaser of the contract to take delivery of the type of foreign currency, financial instrument or security called for in the contract at a specified future time for a specified price. Upon entering into such a contract, a Fund or an Underlying Fund is required to deposit and maintain as collateral such initial margin as required by the exchange on which the contract is traded. Pursuant to the contract, a Fund or an Underlying Fund agrees to receive from or pay to the broker an amount equal to the daily fluctuations in the value of the contract. Such receipts or payments are known as variation margin and are recorded as unrealized gains or losses by the Fund or an Underlying Fund. When the contract is closed, the Fund or Underlying Fund records a realized gain or loss equal to the difference between the value of the contract at the time it was opened and the value at the time it was closed.
for open written foreign currency options at October 31, 2012.
acceleration, obligation default or repudiation/ moratorium. If a Fund is a seller of protection, and a credit event occurs, as defined under the terms of that particular swap agreement, a Fund will generally either (i) pay to the buyer an amount equal to the notional amount of the swap and take delivery of the referenced obligation, other deliverable obligations, or underlying securities comprising a referenced index or (ii) pay a net settlement amount in the form of cash or securities equal to the notional amount of the swap less the recovery value of the referenced obligation or underlying securities comprising a referenced index. If a Fund is a buyer of protection and a credit event occurs, as defined under the terms of that particular swap agreement, a Fund will either (i) receive from the seller of protection an amount equal to the notional amount of the swap and deliver the referenced obligation, other deliverable obligations or underlying securities comprising the referenced index or (ii) receive a net settlement amount in the form of cash or securities equal to the notional amount of the swap less the recovery value of the referenced obligation or underlying securities comprising the referenced index. Recovery values are assumed by market makers considering either industry standard recovery rates or entity specific factors and considerations until a credit event occurs. If a credit event has occurred, the recovery value is determined by a facilitated auction whereby a minimum number of allowable broker bids, together with a specified valuation method, are used to calculate the settlement value.
rate (“Short interest rate swap”) in order to decrease exposure to interest rate risk. Average notional amounts on short interest rate swaps were $450,960,403.
Purchases | Sales | |||||||||
---|---|---|---|---|---|---|---|---|---|---|
Diversified International | $ | 21,574,282 | $ | 56,653,478 | ||||||
Global Bond | 2,189,032,950 | 2,068,030,466 | ||||||||
Global Value Choice | 126,351,413 | 533,958,928 | ||||||||
Index Plus International Equity | 127,501,136 | 165,799,871 | ||||||||
International Small Cap | 76,502,878 | 149,842,164 | ||||||||
International Value Choice | 7,717,291 | 12,150,852 | ||||||||
International Value | 181,131,618 | 405,338,295 | ||||||||
Russia | 127,316,165 | 174,910,474 |
Purchases | Sales | |||||||||
---|---|---|---|---|---|---|---|---|---|---|
Global Bond | $ | 1,874,130,668 | $ | 1,853,273,530 |
Fund | As a Percentage of Average Daily Net Assets | |||||
---|---|---|---|---|---|---|
Diversified International | 0.00% | |||||
Global Bond | 0.40% | |||||
Global Value Choice | 0.90% on the first $500 million; 0.80% on the next $500 million; and 0.75% thereafter | |||||
Index Plus International Equity | 0.55% | |||||
International Small Cap(1) | 1.00% on first $500 million; 0.90% on next $500 million; and 0.85% thereafter | |||||
International Value Choice(2) | 1.00% | |||||
International Value(1) | 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) | ING Investments has contractually agreed to waive a portion of the advisory fee for International Small Cap and International Value. These agreements will only renew if ING Investments elects to renew them. |
(2) | Pursuant to a side agreement, ING Investments has agreed to waive 0.10% of the advisory fee for International Value Choice. The waiver agreement will only renew if ING Investments elects to renew it. |
Fund | Sub-Adviser | |||||
---|---|---|---|---|---|---|
Global Bond | ING Investment Management Co. LLC* | |||||
Global Value Choice | Tradewinds Global Investors, LLC(1) | |||||
Index Plus International Equity | ING Investment Management Co. LLC* | |||||
International Small Cap | Acadian Asset Management LLC and Schroder Investment Management North America Inc. | |||||
International Value Choice | Tradewinds Global Investors, LLC(1) | |||||
International Value | Brandes Investment Partners, L.P., del Rey Global Investors, LLC and ING Investment Management Co. LLC* | |||||
Russia | ING Investment Management Advisors B.V* |
(1) | Please see Note 17 — Subsequent Events regarding changes to the Fund’s sub-advisory agreement. |
Fund | Class A | Class B | Class C | Class O | Class R | |||||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Diversified International | 0.25 | % | 1.00 | % | 1.00 | % | 0.25 | % | 0.50 | % | ||||||||||||
Global Bond | 0.25 | % | 1.00 | % | 1.00 | % | 0.25 | % | 0.50 | % | ||||||||||||
Global Value Choice | 0.25 | % | 1.00 | % | 1.00 | % | N/A | N/A | ||||||||||||||
Index Plus International Equity | 0.25 | % | 1.00 | % | 1.00 | % | 0.25 | % | N/A | |||||||||||||
International Small Cap | 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 |
Class A | Class C | |||||||||
---|---|---|---|---|---|---|---|---|---|---|
Initial Sales Charges: | ||||||||||
Diversified International | $ | 2,742 | $ | — | ||||||
Global Bond | 52,838 | — | ||||||||
Global Value Choice | 8,028 | — | ||||||||
Index Plus International Equity | 443 | — | ||||||||
International Small Cap | 2,543 | — | ||||||||
International Value Choice | 1,525 | — | ||||||||
International Value | 821 | �� | — | |||||||
Russia | 40,159 | — |
Class A | Class C | |||||||||
---|---|---|---|---|---|---|---|---|---|---|
Contingent Deferred Sales Charges: | ||||||||||
Diversified International | $ | — | $ | 2,409 | ||||||
Global Bond | 10,530 | 4,734 | ||||||||
Global Value Choice | 331 | 4,598 | ||||||||
Index Plus International Equity | — | 37 | ||||||||
International Small Cap | — | 222 | ||||||||
International Value Choice | — | 5 | ||||||||
International Value | — | 475 | ||||||||
Russia | 67 | — |
Affiliated Investment Company/Subsidiary | Fund | Percentage | ||||||||
---|---|---|---|---|---|---|---|---|---|---|
ING Direct Investing, Inc. | Index Plus International Equity | 62.27 | % | |||||||
ING Global Target Payment Fund | Index Plus International Equity | 16.06 | ||||||||
ING Life Insurance and Annuity Company | International Small Cap | 7.40 | ||||||||
ING National Trust | International Value Choice | 10.10 | ||||||||
International Value | 14.41 | |||||||||
ING Solution 2015 Portfolio | Global Bond | 5.71 | ||||||||
ING Solution 2025 Portfolio | Global Bond | 9.49 |
Fund | Accrued Expenses | Amount | ||||||||
---|---|---|---|---|---|---|---|---|---|---|
Index Plus International Equity | Custody | $ | 33,948 | |||||||
Postage | 24,868 |
Fund | 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 | % | ||||||||||||||||
Global Bond | 0.90 | % | 1.65 | % | 1.65 | % | 0.61 | % | 0.90 | % | 1.15 | % | 0.65 | % | ||||||||||||||||
Global Value Choice | 1.50 | % | 2.25 | % | 2.25 | % | 1.25 | % | N/A | N/A | 1.25 | % | ||||||||||||||||||
Index Plus International Equity | 1.15 | % | 1.90 | % | 1.90 | % | 0.90 | % | 1.15 | % | N/A | 0.90 | % | |||||||||||||||||
International Small Cap | 1.95 | % | 2.60 | % | 2.60 | % | 1.40 | % | 1.85 | % | N/A | 1.60 | % | |||||||||||||||||
International Value Choice | 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. |
Fund | Class A | Class B | Class C | Class I | Class O | Class R | Class W | |||||||||||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
International SmallCap(1)(2) | 1.80 | % | 2.45 | % | 2.45 | % | 1.25 | % | 1.70 | % | N/A | 1.45 | % | |||||||||||||||||
International Value Choice | 1.60 | % | 2.35 | % | 2.35 | % | 1.35 | % | N/A | N/A | 1.35 | % | ||||||||||||||||||
International Value(1)(2) | 1.60 | % | 2.30 | % | 2.30 | % | 1.30 | % | N/A | N/A | 1.30 | % | ||||||||||||||||||
Russia(1)(2) | 2.25 | % | N/A | N/A | 2.00 | % | N/A | N/A | 2.00 | % |
(1) | Any fees waived pursuant to the side agreement shall not be eligible for recoupment. |
(2) | Prior to January 1, 2012, the Fund did not have a side agreement. |
October 31, | ||||||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
2013 | 2014 | 2015 | Total | |||||||||||||||
Diversified International | $ | 472,043 | $ | 51,924 | $ | 244,615 | $ | 768,582 | ||||||||||
Global Bond | 365,110 | 307,563 | 205,867 | $ | 878,540 | |||||||||||||
Index Plus International Equity | 22,288 | 358,140 | 248,446 | $ | 628,874 | |||||||||||||
International Value Choice | — | — | 74,942 | $ | 74,942 |
October 31, | ||||||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
2013 | 2014 | 2015 | Total | |||||||||||||||
Diversified International | ||||||||||||||||||
Class A | $ | 13,391 | $ | 121,634 | $ | — | $ | 135,025 | ||||||||||
Class B | 2,176 | 19,366 | — | 21,542 | ||||||||||||||
Class C | 7,365 | 71,599 | — | 78,964 | ||||||||||||||
Class O | 1,800 | 4,761 | — | 6,561 | ||||||||||||||
Class R | 21 | 226 | — | 247 | ||||||||||||||
Class W | 1,912 | 3,017 | — | 4,929 | ||||||||||||||
Global Value Choice | ||||||||||||||||||
Class A | $ | — | $ | — | $ | 98,197 | $ | 98,197 | ||||||||||
Class B | — | — | 2,887 | 2,887 | ||||||||||||||
Class C | — | — | 61,031 | 61,031 | ||||||||||||||
Class W | — | — | 11,386 | 11,386 | ||||||||||||||
Index Plus International Equity | ||||||||||||||||||
Class A | $ | 11,667 | $ | — | $ | — | $ | 11,667 | ||||||||||
Class B | 1,268 | — | — | 1,268 | ||||||||||||||
Class C | 1,761 | — | — | 1,761 | ||||||||||||||
Class O | 60,711 | — | — | 60,711 | ||||||||||||||
International Value Choice | ||||||||||||||||||
Class A | $ | 15,874 | $ | 27,795 | $ | — | $ | 43,669 | ||||||||||
Class B | 1,164 | 910 | — | 2,074 | ||||||||||||||
Class C | 3,756 | 6,165 | — | 9,921 | ||||||||||||||
Class W | 53 | 58 | — | 111 |
AUD Notional | Cost | |||||||||
---|---|---|---|---|---|---|---|---|---|---|
Balance at 10/31/11 | — | $ | — | |||||||
Options Purchased | 44,600,000 | 423,078 | ||||||||
Options Terminated in Closing Sell Transactions | (44,600,000 | ) | (423,078 | ) | ||||||
Options Expired | ||||||||||
Balance at 10/31/12 | — | $ | — |
EUR Notional | Cost | |||||||||
---|---|---|---|---|---|---|---|---|---|---|
Balance at 10/31/11 | 11,600,000 | $ | 348,378 | |||||||
Options Purchased | ||||||||||
Options Terminated in Closing Sell Transactions | ||||||||||
Options Expired | (11,600,000 | ) | (348,378 | ) | ||||||
Balance at 10/31/12 | — | $ | — |
USD Notional | Cost | |||||||||
---|---|---|---|---|---|---|---|---|---|---|
Balance at 10/31/11 | 141,800,000 | $ | 2,168,314 | |||||||
Options Purchased | 918,100,000 | 10,934,679 | ||||||||
Options Terminated in Closing Sell Transactions | (540,000,000 | ) | (7,730,369 | ) | ||||||
Options Expired | (407,400,000 | ) | (3,772,165 | ) | ||||||
Balance at 10/31/12 | 112,500,000 | $ | 1,600,459 |
USD Notional | Cost | |||||||||
---|---|---|---|---|---|---|---|---|---|---|
Balance at 10/31/11 | — | $ | — | |||||||
Options Purchased | 5,635,000 | 82,764 | ||||||||
Options Terminated in Closing Sell Transactions | (5,635,000 | ) | (82,764 | ) | ||||||
Options Expired | ||||||||||
Balance at 10/31/12 | — | $ | — |
Number of Contracts | Cost | |||||||||
---|---|---|---|---|---|---|---|---|---|---|
Balance at 10/31/11 | — | $ | — | |||||||
Options Purchased | 151,394,000 | 3,198,493 | ||||||||
Options Terminated in Closing Sell Transactions | ||||||||||
Options Expired | (39,800,000 | ) | (398,000 | ) | ||||||
Balance at 10/31/12 | 111,594,000 | $ | 2,800,493 |
Number of Contracts | Cost | |||||||||
---|---|---|---|---|---|---|---|---|---|---|
Balance at 10/31/11 | — | $ | — | |||||||
Options Purchased | 62,945,000 | 1,601,057 | ||||||||
Options Terminated in Closing Sell Transactions | (34,970,000 | ) | (656,369 | ) | ||||||
Options Expired | (27,975,000 | ) | (944,688 | ) | ||||||
Balance at 10/31/12 | — | $ | — |
AUD Notional | Premiums Received | |||||||||
---|---|---|---|---|---|---|---|---|---|---|
Balance at 10/31/11 | — | $ | — | |||||||
Options Written | 44,600,000 | 449,223 | ||||||||
Options Terminated in Closing Purchase Transactions | (44,600,000 | ) | (449,223 | ) | ||||||
Options Expired | ||||||||||
Balance at 10/31/12 | — | $ | — |
EUR Notional | Premiums Received | |||||||||
---|---|---|---|---|---|---|---|---|---|---|
Balance at 10/31/11 | 11,600,000 | $ | 284,546 | |||||||
Options Written | ||||||||||
Options Terminated in Closing Purchase Transactions | ||||||||||
Options Expired | (11,600,000 | ) | (284,546 | ) | ||||||
Balance at 10/31/12 | — | $ | — |
USD Notional | Premiums Received | |||||||||
---|---|---|---|---|---|---|---|---|---|---|
Balance at 10/31/11 | 110,600,000 | $ | 1,266,276 | |||||||
Options Written | 935,800,000 | 7,965,679 | ||||||||
Options Terminated in Closing Purchase Transactions | (503,000,000 | ) | (5,929,159 | ) | ||||||
Options Expired | (448,700,000 | ) | (2,440,864 | ) | ||||||
Balance at 10/31/12 | 94,700,000 | $ | 861,932 |
USD Notional | Premiums Received | |||||||||
---|---|---|---|---|---|---|---|---|---|---|
Balance at 10/31/11 | — | $ | — | |||||||
Options Written | 5,635,000 | 1,761 | ||||||||
Options Terminated in Closing Purchase Transactions | ||||||||||
Options Expired | (5,635,000 | ) | (1,761 | ) | ||||||
Balance at 10/31/12 | — | $ | — |
Number of Contracts | Premiums Received | |||||||||
---|---|---|---|---|---|---|---|---|---|---|
Balance at 10/31/2011 | — | $ | — | |||||||
Options Written | 88,312,000 | 546,435 | ||||||||
Options Terminated in Closing Purchase Transactions | ||||||||||
Options Expired | (79,600,000 | ) | (398,000 | ) | ||||||
Balance at 10/31/12 | 8,712,000 | $ | 148,435 |
Number of Contracts | Premiums Received | |||||||||
---|---|---|---|---|---|---|---|---|---|---|
Balance at 10/31/2011 | — | $ | — | |||||||
Options Written | 45,460,000 | 645,185 | ||||||||
Options Terminated in Closing Purchase Transactions | (45,460,000 | ) | (645,185 | ) | ||||||
Options Expired | ||||||||||
Balance at 10/31/12 | — | $ | — |
Fund | Days Utilized | Approximate Average Daily Balance For Days Utilized | Approximate Weighted Average Interest Rate For Days Utilized | |||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Diversified International | 2 | $ | 1,215,000 | 1.23 | % | |||||||||
Global Bond | 31 | 3,291,290 | 1.21 | |||||||||||
Global Value Choice | 20 | 18,655,500 | 1.29 | |||||||||||
Index Plus International Equity | 13 | 2,691,154 | 1.22 | |||||||||||
International Small Cap | 13 | 867,692 | 1.23 | |||||||||||
International Value Choice | 6 | 2,391,667 | 1.15 | |||||||||||
International Value | 125 | 1,629,240 | 1.23 | |||||||||||
Russia | 20 | 1,179,750 | 1.18 |
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 16) | 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 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
10/31/2012 | 278,532 | — | 78,991 | (2,272,947 | ) | — | (1,915,424 | ) | 2,428,890 | — | — | 635,082 | — | (19,511,436 | ) | — | (16,447,464 | ) | |||||||||||||||||||||||||||||||||||||||||
10/31/2011 | 790,343 | — | 90,062 | (4,745,194 | ) | — | (3,864,789 | ) | 7,627,783 | — | — | 863,699 | — | (45,428,470 | ) | — | (36,936,988 | ) | |||||||||||||||||||||||||||||||||||||||||
Class B | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
10/31/2012 | 254 | — | 2,703 | (318,203 | ) | — | (315,246 | ) | 5,008 | — | — | 21,787 | — | (2,723,845 | ) | — | (2,697,050 | ) | |||||||||||||||||||||||||||||||||||||||||
10/31/2011 | 607 | — | 2,021 | (605,231 | ) | — | (602,603 | ) | 6,016 | — | — | 19,384 | — | (5,756,366 | ) | — | (5,730,966 | ) | |||||||||||||||||||||||||||||||||||||||||
Class C | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
10/31/2012 | 86,850 | — | 9,250 | (1,467,463 | ) | — | (1,371,363 | ) | 750,958 | — | — | 74,369 | — | (12,439,046 | ) | — | (11,613,719 | ) | |||||||||||||||||||||||||||||||||||||||||
10/31/2011 | 194,020 | — | 8,099 | (2,071,989 | ) | — | (1,869,870 | ) | 1,836,873 | — | — | 77,503 | — | (19,497,794 | ) | — | (17,583,418 | ) | |||||||||||||||||||||||||||||||||||||||||
Class I | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
10/31/2012 | 213,907 | — | 14,745 | (501,901 | ) | — | (273,249 | ) | 1,844,184 | — | — | 117,965 | — | (4,289,264 | ) | — | (2,327,115 | ) | |||||||||||||||||||||||||||||||||||||||||
10/31/2011 | 1,060,810 | — | 3,807 | (661,463 | ) | — | 403,154 | 10,315,904 | — | — | 36,391 | — | (6,155,133 | ) | — | 4,197,162 | |||||||||||||||||||||||||||||||||||||||||||
Class O | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
10/31/2012 | 136,747 | — | — | (115,597 | ) | — | 21,150 | 1,167,904 | — | — | — | — | (984,343 | ) | — | 183,561 | |||||||||||||||||||||||||||||||||||||||||||
10/31/2011 | 209,526 | — | — | (116,325 | ) | — | 93,201 | 1,989,309 | — | — | — | — | (1,059,969 | ) | — | 929,340 | |||||||||||||||||||||||||||||||||||||||||||
Class R | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
10/31/2012 | — | — | 171 | (5,471 | ) | — | (5,300 | ) | 40 | — | — | 1,361 | — | (45,113 | ) | — | (43,712 | ) | |||||||||||||||||||||||||||||||||||||||||
10/31/2011 | — | — | 140 | (2,802 | ) | — | (2,662 | ) | — | — | — | 1,332 | — | (27,610 | ) | — | (26,278 | ) | |||||||||||||||||||||||||||||||||||||||||
Class W | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
10/31/2012 | 17,972 | — | 1,880 | (109,342 | ) | — | (89,490 | ) | 154,098 | — | — | 14,983 | — | (907,427 | ) | — | (738,346 | ) | |||||||||||||||||||||||||||||||||||||||||
10/31/2011 | 66,855 | — | 3,496 | (170,541 | ) | — | (100,190 | ) | 587,373 | — | — | 33,281 | — | (1,612,628 | ) | — | (991,974 | ) | |||||||||||||||||||||||||||||||||||||||||
Global Bond | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Class A | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
10/31/2012 | 9,035,461 | — | 1,193,493 | (13,995,278 | ) | — | (3,766,324 | ) | 103,953,667 | — | — | 13,612,253 | — | (159,105,530 | ) | — | (41,539,610 | ) | |||||||||||||||||||||||||||||||||||||||||
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 | |||||||||||||||||||||||||||||||||||||||||||
Class B | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
10/31/2012 | 23,090 | — | 7,023 | (71,270 | ) | — | (41,157 | ) | 262,298 | — | — | 79,346 | — | (809,356 | ) | — | (467,712 | ) | |||||||||||||||||||||||||||||||||||||||||
10/31/2011 | 25,063 | — | 10,171 | (194,167 | ) | — | (158,933 | ) | 293,547 | — | — | 119,021 | — | (2,285,314 | ) | — | (1,872,746 | ) | |||||||||||||||||||||||||||||||||||||||||
Class C | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
10/31/2012 | 3,840,728 | — | 317,969 | (2,344,774 | ) | — | 1,813,923 | 43,980,999 | — | — | 3,607,338 | — | (26,798,110 | ) | — | 20,790,227 | |||||||||||||||||||||||||||||||||||||||||||
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 | |||||||||||||||||||||||||||||||||||||||||||
Class I | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
10/31/2012 | 29,561,113 | — | 1,644,408 | (14,854,236 | ) | — | 16,351,285 | 338,194,865 | — | — | 18,739,776 | — | (170,391,313 | ) | — | 186,543,328 | |||||||||||||||||||||||||||||||||||||||||||
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 | |||||||||||||||||||||||||||||||||||||||||||
Class O | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
10/31/2012 | 136,364 | — | 6 | (120,315 | ) | — | 16,055 | 1,540,069 | — | — | 72 | — | (1,360,024 | ) | — | 180,117 | |||||||||||||||||||||||||||||||||||||||||||
10/31/2011 | 174,442 | — | — | (125,060 | ) | — | 49,382 | 2,039,436 | — | — | — | — | (1,455,707 | ) | — | 583,729 | |||||||||||||||||||||||||||||||||||||||||||
Class R | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
10/31/2012 | 23,244 | — | 535 | (267 | ) | — | 23,512 | 268,156 | — | — | 6,125 | — | (3,004 | ) | — | 271,277 | |||||||||||||||||||||||||||||||||||||||||||
8/5/2011(1)- 10/31/2011 | 249 | — | — | — | — | 249 | 3,000 | — | — | — | — | — | — | 3,000 |
(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 16) | Proceeds from shares issued in merger | Reinvestment of distributions | Redemption fee proceeds | Shares redeemed | Shares converted | Net increase (decrease) | |||||||||||||||||||||||||||||||||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
period ended | # | # | # | # | # | # | ($) | $ | ($) | ($) | $ | ($) | $ | ($) | |||||||||||||||||||||||||||||||||||||||||||||
Global Bond (continued) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Class W | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
10/31/2012 | 1,857,931 | — | 152,609 | (1,127,707 | ) | — | 882,833 | 20,977,411 | — | — | 1,711,304 | — | (12,697,086 | ) | — | 9,991,629 | |||||||||||||||||||||||||||||||||||||||||||
10/31/2011 | 1,541,709 | — | 77,641 | (889,160 | ) | — | 730,190 | 18,139,074 | — | — | 901,653 | — | (10,356,411 | ) | — | 8,684,316 | |||||||||||||||||||||||||||||||||||||||||||
Global Value Choice | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Class A | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
10/31/2012 | 593,626 | — | 716,446 | (5,418,363 | ) | — | (4,108,291 | ) | 16,405,098 | 137,703 | — | 19,236,587 | — | (145,549,018 | ) | — | (109,769,630 | ) | |||||||||||||||||||||||||||||||||||||||||
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 | |||||||||||||||||||||||||||||||||||||||||||
Class B | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
10/31/2012 | 1,439 | — | 14,886 | (70,107 | ) | — | (53,782 | ) | 41,253 | 3,331 | — | 432,452 | — | (2,024,962 | ) | — | (1,547,926 | ) �� | |||||||||||||||||||||||||||||||||||||||||
10/31/2011 | 13,043 | — | 1,069 | (69,196 | ) | — | (55,084 | ) | 471,719 | — | — | 37,866 | — | (2,483,644 | ) | — | (1,974,059 | ) | |||||||||||||||||||||||||||||||||||||||||
Class C | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
10/31/2012 | 247,916 | — | 300,547 | (2,863,809 | ) | — | (2,315,346 | ) | 6,344,252 | 79,799 | — | 7,576,794 | — | (71,018,084 | ) | — | (57,017,239 | ) | |||||||||||||||||||||||||||||||||||||||||
10/31/2011 | 1,679,621 | — | 21,518 | (705,689 | ) | — | 995,450 | 53,663,379 | — | — | 673,274 | — | (22,048,879 | ) | — | 32,287,774 | |||||||||||||||||||||||||||||||||||||||||||
Class I | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
10/31/2012 | 1,072,101 | — | 258,211 | (7,581,198 | ) | — | (6,250,886 | ) | 29,635,295 | 129,275 | — | 6,989,762 | — | (217,824,290 | ) | — | (181,069,958 | ) | |||||||||||||||||||||||||||||||||||||||||
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 | |||||||||||||||||||||||||||||||||||||||||||
Class W | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
10/31/2012 | 73,824 | — | 93,751 | (639,520 | ) | — | (471,945 | ) | 2,055,899 | 14,824 | — | 2,535,022 | — | (16,912,549 | ) | — | (12,306,804 | ) | |||||||||||||||||||||||||||||||||||||||||
10/31/2011 | 981,538 | — | 17,025 | (1,153,978 | ) | — | (155,415 | ) | 33,546,538 | — | — | 566,930 | — | (39,295,079 | ) | — | (5,181,611 | ) | |||||||||||||||||||||||||||||||||||||||||
Index Plus International Equity | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Class A | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
10/31/2012 | 65,924 | — | 23,845 | (197,783 | ) | — | (108,014 | ) | 500,403 | — | — | 166,913 | — | (1,455,753 | ) | — | (788,437 | ) | |||||||||||||||||||||||||||||||||||||||||
10/31/2011 | 104,858 | — | 13,812 | (249,258 | ) | — | (130,588 | ) | 900,553 | — | — | 115,330 | — | (2,118,993 | ) | — | (1,103,110 | ) | |||||||||||||||||||||||||||||||||||||||||
Class B | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
10/31/2012 | 1,213 | — | 544 | (15,790 | ) | — | (14,033 | ) | 9,491 | — | — | 3,863 | — | (122,113 | ) | — | (108,759 | ) | |||||||||||||||||||||||||||||||||||||||||
10/31/2011 | 13 | — | 278 | (42,996 | ) | — | (42,705 | ) | 112 | — | — | 2,340 | — | (377,578 | ) | — | (375,126 | ) | |||||||||||||||||||||||||||||||||||||||||
Class C | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
10/31/2012 | 22,534 | — | 1,588 | (27,758 | ) | — | (3,636 | ) | 173,817 | — | — | 11,133 | — | (210,688 | ) | — | (25,738 | ) | |||||||||||||||||||||||||||||||||||||||||
10/31/2011 | 6,716 | — | 529 | (29,920 | ) | — | (22,675 | ) | 56,268 | — | — | 4,422 | — | (250,290 | ) | — | (189,600 | ) | |||||||||||||||||||||||||||||||||||||||||
Class I | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
10/31/2012 | 1,025,447 | — | 196,582 | (5,749,898 | ) | — | (4,527,869 | ) | 7,511,445 | — | — | 1,374,111 | — | (44,129,677 | ) | — | (35,244,121 | ) | |||||||||||||||||||||||||||||||||||||||||
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 | ) | |||||||||||||||||||||||||||||||||||||||||
Class O | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
10/31/2012 | 352,326 | — | 5,898 | (751,406 | ) | — | (393,182 | ) | 2,606,524 | — | — | 40,929 | — | (5,657,720 | ) | — | (3,010,267 | ) | |||||||||||||||||||||||||||||||||||||||||
10/31/2011 | 366,085 | — | 3,588 | (856,544 | ) | — | (486,871 | ) | 3,074,094 | — | — | 29,742 | — | (7,220,670 | ) | — | (4,116,834 | ) | |||||||||||||||||||||||||||||||||||||||||
Class W | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
10/31/2012 | — | — | — | — | — | — | — | — | — | — | — | — | — | — | |||||||||||||||||||||||||||||||||||||||||||||
8/5/2011(1)- 10/31/2011 | 378 | — | — | — | — | 378 | 3,000 | — | — | — | — | — | — | 3,000 | |||||||||||||||||||||||||||||||||||||||||||||
International Small Cap | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Class A | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
10/31/2012 | 270,854 | — | 40,026 | (922,903 | ) | — | (612,023 | ) | 9,713,889 | 270,209 | — | 1,274,839 | — | (32,531,269 | ) | — | (21,272,332 | ) | |||||||||||||||||||||||||||||||||||||||||
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 | ) | |||||||||||||||||||||||||||||||||||||||||
Class B | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
10/31/2012 | 14 | — | 282 | (21,905 | ) | — | (21,609 | ) | 498 | 6,794 | — | 9,527 | — | (830,403 | ) | — | (813,584 | ) | |||||||||||||||||||||||||||||||||||||||||
10/31/2011 | 148 | — | 1 | (59,948 | ) | — | (59,799 | ) | 6,278 | 1,163 | — | 49 | — | (2,536,178 | ) | — | (2,528,688 | ) | |||||||||||||||||||||||||||||||||||||||||
Class C | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
10/31/2012 | 18,540 | — | 6,506 | (146,218 | ) | — | (121,172 | ) | 617,771 | 64,016 | — | 193,956 | — | (4,823,984 | ) | — | (3,948,241 | ) | |||||||||||||||||||||||||||||||||||||||||
10/31/2011 | 15,965 | — | 15 | (191,906 | ) | — | (175,926 | ) | 598,166 | 10,010 | — | 477 | — | (7,103,227 | ) | — | (6,494,574 | ) | |||||||||||||||||||||||||||||||||||||||||
Class I | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
10/31/2012 | 259,424 | — | 42,183 | (1,912,885 | ) | — | (1,611,278 | ) | 9,074,359 | 402,185 | — | 1,340,152 | — | (64,850,016 | ) | — | (54,033,320 | ) | |||||||||||||||||||||||||||||||||||||||||
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 | ) | |||||||||||||||||||||||||||||||||||||||||
Class O | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
10/31/2012 | 16,552 | — | — | (14,297 | ) | — | 2,255 | 587,931 | 3,932 | — | — | — | (498,432 | ) | — | 93,431 | |||||||||||||||||||||||||||||||||||||||||||
10/31/2011 | 23,889 | — | — | (14,538 | ) | — | 9,351 | 947,636 | 597 | — | — | — | (569,560 | ) | — | 378,673 | |||||||||||||||||||||||||||||||||||||||||||
Class W | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
10/31/2012 | 231,450 | — | 11,768 | (74,946 | ) | — | 168,272 | 9,272,622 | 74,847 | — | 444,614 | — | (3,196,535 | ) | — | 6,595,548 | |||||||||||||||||||||||||||||||||||||||||||
10/31/2011 | 223,881 | — | 5,091 | (543,204 | ) | — | (314,232 | ) | 10,339,982 | 10,572 | — | 235,018 | — | (26,455,767 | ) | — | (15,870,195 | ) |
(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 16) | Proceeds from shares issued in merger | Reinvestment of distributions | Redemption fee proceeds | Shares redeemed | Shares converted | Net increase (decrease) | |||||||||||||||||||||||||||||||||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
period ended | # | # | # | # | # | # | ($) | $ | ($) | ($) | $ | ($) | $ | ($) | |||||||||||||||||||||||||||||||||||||||||||||
International Value Choice | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Class A | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
10/31/2012 | 857,977 | — | 61,290 | (979,205 | ) | — | (59,938 | ) | 7,602,647 | — | — | 549,769 | — | (8,868,341 | ) | — | (715,925 | ) | |||||||||||||||||||||||||||||||||||||||||
10/31/2011 | 700,913 | — | 16,673 | (710,198 | ) | — | 7,388 | 7,732,588 | — | — | 183,909 | — | (7,787,412 | ) | — | 129,085 | |||||||||||||||||||||||||||||||||||||||||||
Class B | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
10/31/2012 | 143 | — | 641 | (13,367 | ) | — | (12,583 | ) | 1,279 | — | — | 5,729 | — | (121,644 | ) | — | (114,636 | ) | |||||||||||||||||||||||||||||||||||||||||
10/31/2011 | 2,967 | — | — | (62,387 | ) | — | (59,420 | ) | 32,117 | — | — | — | — | (676,895 | ) | — | (644,778 | ) | |||||||||||||||||||||||||||||||||||||||||
Class C | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
10/31/2012 | 32,738 | — | 6,462 | (194,465 | ) | — | (155,265 | ) | 297,645 | — | — | 57,515 | — | (1,754,257 | ) | — | (1,399,097 | ) | |||||||||||||||||||||||||||||||||||||||||
10/31/2011 | 102,250 | — | 874 | (137,507 | ) | — | (34,383 | ) | 1,109,821 | — | — | 9,548 | — | (1,454,328 | ) | — | (334,959 | ) | |||||||||||||||||||||||||||||||||||||||||
Class I | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
10/31/2012 | 148,611 | — | 6,943 | (384,488 | ) | — | (228,934 | ) | 1,368,545 | — | — | 62,143 | — | (3,475,314 | ) | — | (2,044,626 | ) | |||||||||||||||||||||||||||||||||||||||||
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 | ) | |||||||||||||||||||||||||||||||||||||||||
Class W | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
10/31/2012 | 472,053 | — | 221 | (470,611 | ) | — | 1,663 | 4,229,322 | — | — | 1,980 | — | (4,172,613 | ) | — | 58,689 | |||||||||||||||||||||||||||||||||||||||||||
10/31/2011 | 6,762 | — | 47 | (3,616 | ) | — | 3,193 | 75,798 | — | — | 516 | — | (40,182 | ) | — | 36,132 | |||||||||||||||||||||||||||||||||||||||||||
International Value | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Class A | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
10/31/2012 | 1,592,206 | — | 624,185 | (13,328,059 | ) | — | (11,111,668 | ) | 15,911,710 | 370,454 | — | 5,904,795 | — | (133,988,233 | ) | — | (111,801,274 | ) | |||||||||||||||||||||||||||||||||||||||||
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 | ) | |||||||||||||||||||||||||||||||||||||||||
Class B | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
10/31/2012 | 3,308 | — | 1,473 | (79,061 | ) | — | (74,280 | ) | 33,148 | 1,679 | — | 14,127 | — | (811,502 | ) | — | (762,548 | ) | |||||||||||||||||||||||||||||||||||||||||
10/31/2011 | 953 | — | 5 | (134,706 | ) | — | (133,748 | ) | 15,458 | 233 | — | 57 | — | (1,596,187 | ) | — | (1,580,439 | ) | |||||||||||||||||||||||||||||||||||||||||
Class C | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
10/31/2012 | 88,634 | — | 203,326 | (3,641,870 | ) | — | (3,349,910 | ) | 836,062 | 166,718 | — | 1,872,630 | — | (35,566,726 | ) | — | (32,691,316 | ) | |||||||||||||||||||||||||||||||||||||||||
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 | ) | |||||||||||||||||||||||||||||||||||||||||
Class I | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
10/31/2012 | 1,900,630 | — | 716,678 | (8,267,004 | ) | — | (5,649,696 | ) | 19,262,272 | 321,337 | — | 6,736,773 | — | (82,295,214 | ) | — | (55,974,832 | ) | |||||||||||||||||||||||||||||||||||||||||
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 | ) | |||||||||||||||||||||||||||||||||||||||||
Class W | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
10/31/2012 | 2,195 | — | 413 | (30,318 | ) | — | (27,710 | ) | 20,689 | 403 | — | 3,889 | — | (300,118 | ) | — | (275,137 | ) | |||||||||||||||||||||||||||||||||||||||||
10/31/2011 | 11,107 | — | 46,331 | (2,099,066 | ) | — | (2,041,628 | ) | 128,517 | 70 | — | 530,953 | — | (24,170,447 | ) | — | (23,510,907 | ) | |||||||||||||||||||||||||||||||||||||||||
Russia | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Class A | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
10/31/2012 | 486,919 | — | — | (2,470,645 | ) | — | (1,983,726 | ) | 15,853,700 | — | — | — | (122,278 | ) | (77,879,747 | ) | — | (61,903,769 | ) | ||||||||||||||||||||||||||||||||||||||||
10/31/2011 | 1,257,704 | — | — | (3,228,676 | ) | — | (1,970,972 | ) | 51,432,518 | — | — | — | (180,692 | ) | (124,889,133 | ) | — | (73,275,923 | ) | ||||||||||||||||||||||||||||||||||||||||
Class I | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
10/31/2012 | 252,713 | — | — | (291,136 | ) | — | (38,423 | ) | 8,205,811 | — | — | — | (10,849 | ) | (9,318,184 | ) | — | (1,101,524 | ) | ||||||||||||||||||||||||||||||||||||||||
10/31/2011 | 263,755 | — | — | (174,657 | ) | — | 89,098 | 10,631,704 | — | — | — | (37,248 | ) | (6,576,891 | ) | — | 4,092,061 | ||||||||||||||||||||||||||||||||||||||||||
Class W | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
10/31/2012 | 2,374 | — | — | (419 | ) | — | 1,955 | 69,952 | — | — | — | (204 | ) | (12,552 | ) | — | 57,604 | ||||||||||||||||||||||||||||||||||||||||||
8/5/2011(1)- 10/31/2011 | 76 | — | — | — | — | 76 | 3,001 | — | — | — | — | — | — | 3,001 |
(1) | Commencement of operations. |
Fund | Value of Securities Loaned | Cash Collateral Received | ||||||||
---|---|---|---|---|---|---|---|---|---|---|
Global Value Choice | $ | 7,969,306 | $ | 8,310,696 | ||||||
International Small Cap | 1,621,307 | 1,722,019 | ||||||||
International Value | 650,310 | 700,066 | ||||||||
Russia | 13,619,804 | 14,079,810 |
Paid-in Capital | Undistributed Net Investment Income On Investments | Accumulated Net Realized Gains / (Losses) | ||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Diversified International | $ | 179 | $ | 131,797 | $ | (131,976 | ) | |||||||
Global Bond(1) | — | (19,943,605 | ) | 19,943,605 | ||||||||||
Global Value Choice | (364,932 | ) | (1,752,903 | ) | 2,117,835 | |||||||||
Index Plus International Equity | — | 181,046 | (181,046 | ) | ||||||||||
International Small Cap | (821,983 | ) | 2,098,850 | (1,276,867 | ) | |||||||||
International Value Choice | — | (16,849 | ) | 16,849 | ||||||||||
International Value | (860,591 | ) | 1,323,544 | (462,953 | ) | |||||||||
Russia | 500 | (254,181 | ) | 253,681 |
(1) | $19,080,116 relates to the tax treatment of foreign currency gains and losses. |
Year Ended October 31, 2012 | Year Ended October 31, 2011 | ||||||||||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Ordinary Income | Long-term Capital Gain | Return of Capital | Ordinary Income | Return Of Capital | |||||||||||||||||||
Diversified International | $ | 1,060,003 | $ | — | $ | — | $ | 1,061,111 | $ | 191,335 | |||||||||||||
Global Bond | 27,988,289 | 6,774,863 | 10,078,625 | 32,360,506 | — | ||||||||||||||||||
Global Value Choice | 32,521,474 | 29,040,761 | — | 8,011,477 | — | ||||||||||||||||||
Index Plus International Equity | 2,495,861 | — | — | 2,092,268 | — | ||||||||||||||||||
International Small Cap | 5,339,421 | — | — | 2,615,060 | — | ||||||||||||||||||
International Value Choice | 774,425 | — | — | 391,851 | — | ||||||||||||||||||
International Value | 18,093,661 | — | — | 23,226,893 | — |
Capital Loss Carryforwards | |||||||||||||||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Undistributed Ordinary Income | Late Year Ordinary Losses Deferred | Unrealized Appreciation/ (Depreciation) | Amount | Character | Expiration | ||||||||||||||||||||||
Diversified International | $ | 526,968 | $ | (178,380 | ) | $ | 2,898,366 | $ | (28,060,058 | ) | Short-term | 2016 | |||||||||||||||
(93,445,922 | ) | Short-term | 2017 | ||||||||||||||||||||||||
(33,117,873 | ) | Short-term | 2018 | ||||||||||||||||||||||||
(824,702 | ) | Short-term | 2019 | ||||||||||||||||||||||||
(418,596 | ) | Short-term | None | ||||||||||||||||||||||||
(6,148,582 | ) | Long-term | None | ||||||||||||||||||||||||
$ | (162,015,733 | ) | |||||||||||||||||||||||||
Global Bond | — | — | 12,336,465 | — | N/A | N/A | |||||||||||||||||||||
Global Value Choice | 681,489 | (27,177,137 | ) | (9,135,728 | ) | Short-term | None | ||||||||||||||||||||
(25,904,849 | ) | Long-term | None | ||||||||||||||||||||||||
$ | (35,040,577 | ) | |||||||||||||||||||||||||
Index Plus International Equity | 2,411,899 | — | 7,275,787 | (27,339,841 | ) | Short-term | 2016 | ||||||||||||||||||||
(46,742,747 | ) | Short-term | 2017 | ||||||||||||||||||||||||
(4,579,617 | ) | Short-term | None | ||||||||||||||||||||||||
(140,407 | ) | Long-term | None | ||||||||||||||||||||||||
$ | (78,802,612 | ) |
Capital Loss Carryforwards | |||||||||||||||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Undistributed Ordinary Income | Late Year Ordinary Losses Deferred | Unrealized Appreciation/ (Depreciation) | Amount | Character | Expiration | ||||||||||||||||||||||
International Small Cap | $ | 4,278,857 | $ | — | $ | 11,334,106 | $ | (77,906,737 | ) | Short-term | 2016 | ||||||||||||||||
(202,973,948 | ) | Short-term | 2017 | ||||||||||||||||||||||||
(1,355,837 | ) | Short-term | None | ||||||||||||||||||||||||
$ | (282,236,522 | ) | |||||||||||||||||||||||||
International Value Choice | 365,853 | — | (2,284,541 | ) | (14,545,893 | ) | Short-term | 2017 | |||||||||||||||||||
(359,381 | ) | Short-term | 2019 | ||||||||||||||||||||||||
(2,490,915 | ) | Long-term | None | ||||||||||||||||||||||||
$ | (17,396,189 | ) | |||||||||||||||||||||||||
International Value | 11,410,427 | — | (45,848,330 | ) | (810,539,013 | ) | Short-term | 2017 | |||||||||||||||||||
(70,133,094 | ) | Short-term | 2018 | ||||||||||||||||||||||||
(8,757,263 | ) | Short-term | 2019 | ||||||||||||||||||||||||
(12,866,873 | ) | Short-term | None | ||||||||||||||||||||||||
(51,613,608 | ) | Long-term | None | ||||||||||||||||||||||||
$ | (953,909,851 | ) | |||||||||||||||||||||||||
Russia | 982,885 | — | 41,515,751 | (66,111,223 | ) | Short-term | 2017 | ||||||||||||||||||||
(21,810,157 | ) | Short-term | 2018 | ||||||||||||||||||||||||
(2,925,627 | ) | Short-term | None | ||||||||||||||||||||||||
$ | (90,847,007 | ) |
Global Value Choice | $ | 364,932 | ||||
International SmallCap Multi-Manager | $ | 821,983 | ||||
International Value | $ | 860,591 |
Net Investment Income | Payable Date | Record Date | ||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Global Bond | ||||||||||||||
Class A | $0.0392 | November 2, 2012 | October 31, 2012 | |||||||||||
Class B | $0.0319 | November 2, 2012 | October 31, 2012 | |||||||||||
Class C | $0.0319 | November 2, 2012 | October 31, 2012 | |||||||||||
Class I | $0.0422 | November 2, 2012 | October 31, 2012 | |||||||||||
Class O | $0.0393 | November 2, 2012 | October 31, 2012 | |||||||||||
Class R | $0.0368 | November 2, 2012 | October 31, 2012 | |||||||||||
Class W | $0.0417 | November 2, 2012 | October 31, 2012 | |||||||||||
Class A | $0.0392 | December 4, 2012 | November 30, 2012 | |||||||||||
Class B | $0.0319 | December 4, 2012 | November 30, 2012 | |||||||||||
Class C | $0.0322 | December 4, 2012 | November 30, 2012 | |||||||||||
Class I | $0.0419 | December 4, 2012 | November 30, 2012 | |||||||||||
Class O | $0.0392 | December 4, 2012 | November 30, 2012 | |||||||||||
Class R | $0.0368 | December 4, 2012 | November 30, 2012 | |||||||||||
Class W | $0.0416 | December 4, 2012 | November 30, 2012 |
Net Investment Income | Payable Date | Record Date | ||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Global Value Choice | ||||||||||||||
Class A | $0.1468 | December 18, 2012 | December 14, 2012 | |||||||||||
Class B | $ — | December 18, 2012 | December 14, 2012 | |||||||||||
Class C | $ — | December 18, 2012 | December 14, 2012 | |||||||||||
Class I | $0.1924 | December 18, 2012 | December 14, 2012 | |||||||||||
Class W | $0.2218 | December 18, 2012 | December 14, 2012 | |||||||||||
Index Plus International Equity | ||||||||||||||
Class A | $0.3449 | December 18, 2012 | December 14, 2012 | |||||||||||
Class B | $0.2774 | December 18, 2012 | December 14, 2012 | |||||||||||
Class C | $0.2819 | December 18, 2012 | December 14, 2012 | |||||||||||
Class I | $0.3846 | December 18, 2012 | December 14, 2012 | |||||||||||
Class O | $0.3464 | December 18, 2012 | December 14, 2012 | |||||||||||
Class W | $0.3670 | December 18, 2012 | December 14, 2012 | |||||||||||
International Small Cap | ||||||||||||||
Class A | $0.6353 | December 18, 2012 | December 14, 2012 | |||||||||||
Class B | $0.3641 | December 18, 2012 | December 14, 2012 | |||||||||||
Class C | $0.4502 | December 18, 2012 | December 14, 2012 | |||||||||||
Class I | $0.8025 | December 18, 2012 | December 14, 2012 | |||||||||||
Class O | $0.6880 | December 18, 2012 | December 14, 2012 | |||||||||||
Class W | $0.7579 | December 18, 2012 | December 14, 2012 | |||||||||||
International Value Choice | ||||||||||||||
Class A | $0.1764 | December 18, 2012 | December 14, 2012 | |||||||||||
Class B | $0.0910 | December 18, 2012 | December 14, 2012 | |||||||||||
Class C | $0.0761 | December 18, 2012 | December 14, 2012 | |||||||||||
Class I | $0.1643 | December 18, 2012 | December 14, 2012 | |||||||||||
Class W | $ — | December 18, 2012 | December 14, 2012 | |||||||||||
International Value | ||||||||||||||
Class A | $0.2695 | December 18, 2012 | December 14, 2012 | |||||||||||
Class B | $0.1435 | December 18, 2012 | December 14, 2012 | |||||||||||
Class C | $0.1956 | December 18, 2012 | December 14, 2012 | |||||||||||
Class I | $0.3272 | December 18, 2012 | December 14, 2012 | |||||||||||
Class W | $0.2999 | December 18, 2012 | December 14, 2012 | |||||||||||
Russia | ||||||||||||||
Class A | $0.1643 | December 18, 2012 | December 14, 2012 | |||||||||||
Class I | $0.1900 | December 18, 2012 | December 14, 2012 | |||||||||||
Class W | $0.3002 | December 18, 2012 | December 14, 2012 |
AS OF OCTOBER 31, 2012
Shares | | | | Value | | Percentage of Net Assets | |||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
EXCHANGE-TRADED FUNDS: 4.6% | |||||||||||||||||||
97,000 | iShares MSCI EAFE Value Index | $ | 4,471,700 | 4.6 | |||||||||||||||
Total Exchange-Traded Funds (Cost $4,581,626) | 4,471,700 | 4.6 | |||||||||||||||||
MUTUAL FUNDS: 95.7% | |||||||||||||||||||
Affiliated Investment Companies: 95.7% | |||||||||||||||||||
1,350,571 | ING Emerging Markets Equity Fund — Class I | 14,559,150 | 15.1 | ||||||||||||||||
4,158,549 | ING International Core Fund — Class I | 38,882,434 | 40.2 | ||||||||||||||||
1,967,449 | ING International Growth Fund — Class I | 19,418,723 | 20.1 | ||||||||||||||||
MUTUAL FUNDS: (continued) | |||||||||||||||||||
Affiliated Investment Companies: (continued) | |||||||||||||||||||
131,492 | ING International SmallCap Fund — Class I | $ | 4,883,616 | 5.0 | |||||||||||||||
1,426,281 | ING International Value Fund — Class I | 14,804,800 | 15.3 | ||||||||||||||||
Total Mutual Funds (Cost $87,838,597) | 92,548,723 | 95.7 | |||||||||||||||||
Total Investments in Securities (Cost $92,420,223) | $ | 97,020,423 | 100.3 | ||||||||||||||||
Liabilities in Excess of Other Assets | (288,309 | ) | (0.3 | ) | |||||||||||||||
Net Assets | $ | 96,732,114 | 100.0 |
Cost for federal income tax purposes is $94,122,057. |
Net unrealized appreciation consists of: | ||||||
Gross Unrealized Appreciation | $ | 5,009,381 | ||||
Gross Unrealized Depreciation | (2,111,015 | ) | ||||
Net Unrealized Appreciation | $ | 2,898,366 |
Quoted Prices in Active Markets for Identical Investments (Level 1) | Significant Other Observable Inputs (Level 2) | Significant Unobservable Inputs (Level 3) | Fair Value at 10/31/2012 | |||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Asset Table | ||||||||||||||||||
Investments, at fair value | ||||||||||||||||||
Exchange-Traded Funds | $ | 4,471,700 | $ | — | $ | — | $ | 4,471,700 | ||||||||||
Mutual Funds | 92,548,723 | — | — | 92,548,723 | ||||||||||||||
Total Investments, at fair value | $ | 97,020,423 | $ | — | $ | — | $ | 97,020,423 |
ˆ | See Note 2, “Significant Accounting Policies” in the Notes to Financial Statements for additional information. |
AS OF OCTOBER 31, 2012
Principal Amount† | | | | Value | | Percentage of Net Assets | |||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
CORPORATE BONDS/NOTES: 24.8% | |||||||||||||||||||
Azerbaijan: 0.1% | |||||||||||||||||||
1,040,000 | Other Securities | $ | 1,125,998 | 0.1 | |||||||||||||||
Brazil: 1.2% | |||||||||||||||||||
1,250,000 | # | Caixa Economica Federal, 3.500%, 11/07/22 | 1,255,125 | 0.2 | |||||||||||||||
80,000 | # | Itau Unibanco Holding SA/Cayman Island, 6.200%, 12/21/21 | 87,600 | 0.0 | |||||||||||||||
500,000 | # | JBS USA LLC/JBS USA Finance, Inc., 8.250%, 02/01/20 | 518,750 | 0.1 | |||||||||||||||
240,000 | # | Odebrecht Finance Ltd., 7.500%, 09/29/49 | 258,000 | 0.0 | |||||||||||||||
1,113,250 | # | QGOG Atlantic / Alaskan Rigs Ltd., 5.250%, 07/30/18 | 1,174,479 | 0.1 | |||||||||||||||
5,395,000 | Other Securities | 6,080,916 | 0.8 | ||||||||||||||||
9,374,870 | 1.2 | ||||||||||||||||||
Cayman Islands: 0.2% | |||||||||||||||||||
665,000 | # | Sable International Finance Ltd., 8.750%, 02/01/20 | 761,425 | 0.1 | |||||||||||||||
750,000 | Other Securities | 785,625 | 0.1 | ||||||||||||||||
1,547,050 | 0.2 | ||||||||||||||||||
Chile: 0.5% | |||||||||||||||||||
450,000 | # | Corp Nacional del Cobre de Chile, 4.250%, 07/17/42 | 458,172 | 0.1 | |||||||||||||||
1,800,000 | # | Telefonica Chile SA, 3.875%, 10/12/22 | 1,790,953 | 0.2 | |||||||||||||||
1,882,000 | Empresa Nacional del Petroleo, 4.750%–5.250%, 08/10/20–12/06/21 | 2,090,511 | 0.2 | ||||||||||||||||
4,339,636 | 0.5 | ||||||||||||||||||
China: 0.1% | |||||||||||||||||||
600,000 | # | China Resources Gas Group Ltd, 4.500%, 04/05/22 | 659,232 | 0.1 | |||||||||||||||
250,000 | # | Mega Advance Investments Ltd., 6.375%, 05/12/41 | 324,882 | 0.0 | |||||||||||||||
984,114 | 0.1 | ||||||||||||||||||
Colombia: 0.3% | |||||||||||||||||||
1,500,000 | # | Colombia Telecomunicaciones SA ESP, 5.375%, 09/27/22 | 1,537,500 | 0.2 | |||||||||||||||
719,000 | # | Empresa de Energia de Bogota SA, 6.125%, 11/10/21 | 816,065 | 0.1 | |||||||||||||||
2,353,565 | 0.3 | ||||||||||||||||||
Hong Kong: 0.2% | |||||||||||||||||||
1,500,000 | # | Hutchison Whampoa International 12 Ltd., 6.000%, 11/07/49 | 1,567,500 | 0.2 | |||||||||||||||
CORPORATE BONDS/NOTES: (continued) | |||||||||||||||||||
India: 0.5% | |||||||||||||||||||
2,300,000 | # | ICICI Bank Ltd./Dubai, 4.700%, 02/21/18 | $ | 2,406,975 | 0.3 | ||||||||||||||
800,000 | # | State Bank of India/London, 4.125%, 08/01/17 | 819,522 | 0.1 | |||||||||||||||
1,000,000 | # | Reliance Holdings USA, Inc., 5.400%, 02/14/22 | 1,113,025 | 0.1 | |||||||||||||||
4,339,522 | 0.5 | ||||||||||||||||||
Indonesia: 0.3% | |||||||||||||||||||
2,500,000 | Pertamina Persero PT, 6.000%, 05/03/42 | 2,831,250 | 0.3 | ||||||||||||||||
Ireland: 0.2% | |||||||||||||||||||
250,000 | # | Ardagh Packaging Finance PLC/Ardagh MP Holdings USA, Inc., 7.375%, 10/15/17 | 269,688 | 0.0 | |||||||||||||||
1,500,000 | # | Brunswick Rail Finance Ltd., 6.500%, 11/01/17 | 1,528,908 | 0.2 | |||||||||||||||
1,798,596 | 0.2 | ||||||||||||||||||
Italy: 0.2% | |||||||||||||||||||
1,191,000 | Other Securities | 1,238,196 | 0.2 | ||||||||||||||||
Kazakhstan: 0.1% | |||||||||||||||||||
670,000 | # | Kazakhstan Temir Zholy Finance BV, 6.950%, 07/10/42 | 819,437 | 0.1 | |||||||||||||||
Mexico: 2.9% | |||||||||||||||||||
2,300,000 | # | BBVA Bancomer SA/Texas, 6.750%, 09/30/22 | 2,610,500 | 0.3 | |||||||||||||||
359,000 | # | Comision Federal de Electricidad, 5.750%, 02/14/42 | 411,055 | 0.0 | |||||||||||||||
1,175,000 | # | Mexichem SAB de CV, 4.875%, 09/19/22 | 1,245,500 | 0.2 | |||||||||||||||
MXN 143,000,000 | # | Petroleos Mexicanos, 7.650%, 11/24/21 | 11,966,175 | 1.5 | |||||||||||||||
3,226,000 | Petroleos Mexicanos, 4.875%–6.500%, 01/21/21–06/27/44 | 3,790,030 | 0.5 | ||||||||||||||||
2,605,000 | Other Securities | 3,082,288 | 0.4 | ||||||||||||||||
23,105,548 | 2.9 | ||||||||||||||||||
Netherlands: 0.3% | |||||||||||||||||||
325,000 | # | Carlson Wagonlit BV, 6.875%, 06/15/19 | 341,250 | 0.1 | |||||||||||||||
1,683,000 | Other Securities | 1,924,103 | 0.2 | ||||||||||||||||
2,265,353 | 0.3 | ||||||||||||||||||
Russia: 1.2% | |||||||||||||||||||
400,000 | # | Gazprom OAO Via Gaz Capital SA, 5.999%, 01/23/21 | 453,600 | 0.0 | |||||||||||||||
750,000 | Russian Agricultural Bank OJSC Via RSHB Capital SA, 5.298%, 12/27/17 | 806,295 | 0.1 |
AS OF OCTOBER 31, 2012 (CONTINUED)
Principal Amount† | | | | Value | | Percentage of Net Assets | |||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
CORPORATE BONDS/NOTES: (continued) | |||||||||||||||||||
Russia: (continued) | |||||||||||||||||||
2,400,000 | # | Russian Agricultural Bank OJSC Via RSHB Capital SA, 5.298%, 12/27/17 | $ | 2,580,144 | 0.3 | ||||||||||||||
1,375,000 | # | Sberbank of Russia Via SB Capital SA, 5.125%, 10/29/22 | 1,371,244 | 0.2 | |||||||||||||||
1,300,000 | # | Severstal OAO Via Steel Capital SA, 5.900%, 10/17/22 | 1,293,825 | 0.2 | |||||||||||||||
1,400,000 | # | VTB Bank OJSC Via VTB Capital SA, 6.950%, 10/17/22 | 1,453,130 | 0.2 | |||||||||||||||
1,400,000 | Other Securities | 1,498,558 | 0.2 | ||||||||||||||||
9,456,796 | 1.2 | ||||||||||||||||||
South Africa: 0.4% | |||||||||||||||||||
3,084,000 | # | Transnet SOC Ltd., 4.000%, 07/26/22 | 3,091,710 | 0.4 | |||||||||||||||
100,000 | Other Securities | 102,083 | 0.0 | ||||||||||||||||
3,193,793 | 0.4 | ||||||||||||||||||
South Korea: 0.2% | |||||||||||||||||||
700,000 | # | Hyundai Capital America, 4.000%, 06/08/17 | 757,217 | 0.1 | |||||||||||||||
492,000 | # | Korea Gas Corp., 6.250%, 01/20/42 | 675,825 | 0.1 | |||||||||||||||
1,433,042 | 0.2 | ||||||||||||||||||
Trinidad And Tobago: 0.2% | |||||||||||||||||||
1,364,167 | Other Securities | 1,490,352 | 0.2 | ||||||||||||||||
Turkey: 0.4% | |||||||||||||||||||
900,000 | # | Akbank TAS, 5.000%, 10/24/22 | 918,405 | 0.1 | |||||||||||||||
400,000 | # | Turkiye Halk Bankasi AS, 4.875%, 07/19/17 | 410,000 | 0.1 | |||||||||||||||
1,700,000 | # | Turkiye Is Bankasi, 6.000%, 10/24/22 | 1,742,500 | 0.2 | |||||||||||||||
3,070,905 | 0.4 | ||||||||||||||||||
United Arab Emirates: 0.5% | |||||||||||||||||||
1,080,000 | # | Abu Dhabi National Energy Co., 5.875%, 12/13/21 | 1,290,600 | 0.2 | |||||||||||||||
732,000 | # | Dolphin Energy Ltd., 5.500%, 12/15/21 | 849,852 | 0.1 | |||||||||||||||
1,611,000 | # | IPIC GMTN Ltd., 5.500%, 03/01/22 | 1,864,732 | 0.2 | |||||||||||||||
4,005,184 | 0.5 | ||||||||||||||||||
United Kingdom: 0.3% | |||||||||||||||||||
627,000 | # | Barclays Bank PLC, 6.050%, 12/04/17 | 687,543 | 0.1 | |||||||||||||||
250,000 | # | Ineos Finance PLC, 8.375%, 02/15/19 | 263,437 | 0.0 | |||||||||||||||
665,000 | # | Lloyds TSB Bank PLC, 6.500%, 09/14/20 | 725,035 | 0.1 | |||||||||||||||
625,000 | Other Securities | 670,063 | 0.1 | ||||||||||||||||
2,346,078 | 0.3 | ||||||||||||||||||
CORPORATE BONDS/NOTES: (continued) | |||||||||||||||||||
United States: 13.8% | |||||||||||||||||||
426,000 | # | Allegheny Energy Supply Co. LLC, 5.750%, 10/15/19 | $ | 471,537 | 0.1 | ||||||||||||||
2,718,000 | American Express Credit Corp., 2.750%–5.125%, 08/25/14–09/15/15 | 2,914,101 | 0.4 | ||||||||||||||||
3,762,000 | AT&T, Inc., 2.500%–5.350%, 08/15/15–09/01/40 | 4,264,501 | 0.5 | ||||||||||||||||
1,750,000 | Bank of America Corp., 5.420%–5.625%, 03/15/17–07/01/20 | 2,027,064 | 0.3 | ||||||||||||||||
250,000 | # | Chesapeake Oilfield Operating LLC/Chesapeake Oilfield Finance, Inc., 6.625%, 11/15/19 | 239,375 | 0.0 | |||||||||||||||
1,869,000 | Citigroup, Inc., 5.000%–8.500%, 09/15/14–05/22/19 | 2,093,406 | 0.3 | ||||||||||||||||
2,641,000 | Comcast Corp., 5.700%–6.550%, 05/15/18–07/01/39 | 3,310,748 | 0.4 | ||||||||||||||||
1,226,000 | Devon Energy Corp., 5.600%, 07/15/41 | 1,534,726 | 0.2 | ||||||||||||||||
2,157,000 | Entergy Corp., 5.125%, 09/15/20 | 2,400,208 | 0.3 | ||||||||||||||||
600,000 | # | Fresenius Medical Care US Finance II, Inc., 5.625%, 07/31/19 | 634,500 | 0.1 | |||||||||||||||
605,000 | General Electric Capital Corp., 2.250%, 11/09/15 | 626,682 | 0.1 | ||||||||||||||||
2,493,000 | General Electric Capital Corp., 4.375%, 09/16/20 | 2,792,073 | 0.3 | ||||||||||||||||
1,601,000 | General Electric Co., 2.700%, 10/09/22 | 1,611,696 | 0.2 | ||||||||||||||||
991,000 | # | Hyatt Hotels Corp., 6.875%, 08/15/19 | 1,168,072 | 0.1 | |||||||||||||||
2,036,000 | JPMorgan Chase & Co., 4.400%, 07/22/20 | 2,264,553 | 0.3 | ||||||||||||||||
250,000 | JPMorgan Chase Bank NA, 5.875%, 06/13/16 | 284,289 | 0.0 | ||||||||||||||||
2,632,000 | Kellogg Co., 4.000%, 12/15/20 | 2,964,837 | 0.4 | ||||||||||||||||
500,000 | # | Kinder Morgan Finance Co. LLC, 6.000%, 01/15/18 | 550,817 | 0.1 | |||||||||||||||
GBP 2,841,000 | MBNA Credit Card Master Note Trust, 6.100%, 05/17/13 | 4,676,383 | 0.6 | ||||||||||||||||
1,683,000 | Morgan Stanley, 4.100%-7.300%, 01/26/15–05/13/19 | 1,840,370 | 0.2 | ||||||||||||||||
2,334,000 | Oracle Corp., 5.375%, 07/15/40 | 3,043,032 | 0.4 |
AS OF OCTOBER 31, 2012 (CONTINUED)
Principal Amount† | | | | Value | | Percentage of Net Assets | |||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
CORPORATE BONDS/NOTES: (continued) | |||||||||||||||||||
United States: (continued) | |||||||||||||||||||
857,000 | # | Pacific Life Insurance Co., 9.250%, 06/15/39 | $ | 1,213,395 | 0.1 | ||||||||||||||
1,100,000 | # | Sealed Air Corp., 8.375%, 09/15/21 | 1,215,500 | 0.1 | |||||||||||||||
291,000 | # | Suburban Propane Partners L.P./Suburban Energy Finance Corp., 7.375%, 08/01/21 | 312,825 | 0.0 | |||||||||||||||
1,421,000 | Time Warner, Inc., 6.500%, 11/15/36 | 1,854,016 | 0.2 | ||||||||||||||||
1,702,000 | Time Warner Cable, Inc., 5.875%–6.750%, 06/15/39–11/15/40 | 2,183,918 | 0.3 | ||||||||||||||||
400,000 | # | Valeant Pharmaceuticals International, 7.000%, 10/01/20 | 432,500 | 0.1 | |||||||||||||||
720,000 | # | Valeant Pharmaceuticals International, 7.250%, 07/15/22 | 783,000 | 0.1 | |||||||||||||||
1,626,000 | Wells Fargo & Co., 3.676%, 06/15/16 | 1,766,121 | 0.2 | ||||||||||||||||
735,000 | # | XM Satellite Radio, Inc., 7.625%, 11/01/18 | 815,850 | 0.1 | |||||||||||||||
51,726,000 | Other Securities | 58,762,688 | 7.3 | ||||||||||||||||
111,052,783 | 13.8 | ||||||||||||||||||
Venezuela: 0.7% | |||||||||||||||||||
3,919,100 | Petroleos de Venezuela SA, 8.500%, 11/02/17 | 3,527,190 | 0.5 | ||||||||||||||||
2,101,400 | Petroleos de Venezuela SA, 9.750%, 05/17/35 | 1,723,148 | 0.2 | ||||||||||||||||
5,250,338 | 0.7 | ||||||||||||||||||
Total Corporate Bonds/Notes (Cost $183,238,500) | 198,989,906 | 24.8 | |||||||||||||||||
COLLATERALIZED MORTGAGE OBLIGATIONS: 7.6% | |||||||||||||||||||
United States: 7.6% | |||||||||||||||||||
1,685,000 | # | American General Mortgage Loan Trust, 5.750%, 09/25/48 | 1,723,184 | 0.2 | |||||||||||||||
1,898,855 | Banc of America Alternative Loan Trust, 4.750%, 02/25/19 | 1,913,416 | 0.2 | ||||||||||||||||
710,000 | Banc of America Merrill Lynch Commercial Mortgage, Inc., 5.190%, 09/10/47 | 702,537 | 0.1 | ||||||||||||||||
905,000 | # | Banc of America Merrill Lynch Commercial Mortgage, Inc., 5.323%, 07/10/43 | 930,235 | 0.1 | |||||||||||||||
COLLATERALIZED MORTGAGE OBLIGATIONS: (continued) | |||||||||||||||||||
United States: (continued) | |||||||||||||||||||
580,723 | Banc of America Funding Corp., 5.750%, 10/25/35–11/25/35 | $ | 585,402 | 0.1 | |||||||||||||||
1,211,552 | Bear Stearns Adjustable Rate Mortgage Trust, 2.634%, 08/25/35 | 1,225,608 | 0.2 | ||||||||||||||||
2,644,200 | # | Bear Stearns Commercial Mortgage Securities, 5.483%, 07/11/42 | 2,717,463 | 0.3 | |||||||||||||||
580,000 | # | Bear Stearns Commercial Mortgage Securities, 5.539%, 04/12/38 | 568,648 | 0.1 | |||||||||||||||
1,734,575 | # | Credit Suisse Mortgage Capital Certificates, 4.975%, 07/27/37 | 1,767,068 | 0.2 | |||||||||||||||
1,042,798 | Credit Suisse Mortgage Capital Certificates, 5.589%–5.677%, 06/15/39–09/15/40 | 1,113,014 | 0.2 | ||||||||||||||||
660,000 | # | CSMC Series 2009-RR3, 5.342%, 12/15/43 | 764,686 | 0.1 | |||||||||||||||
557,426 | # | First Union National Bank Commercial Mortgage, 6.000%, 12/12/33 | 559,951 | 0.1 | |||||||||||||||
1,925,000 | # | GS Mortgage Securities Corp. II, 5.309%, 01/10/40 | 1,930,579 | 0.2 | |||||||||||||||
1,630,000 | # | Heller Financial Commercial Mortgage Asset, 6.500%, 05/15/31 | 1,677,558 | 0.2 | |||||||||||||||
310,000 | JP Morgan Chase Commercial Mortgage Securities Corp., 4.903%, 10/15/42 | 309,792 | 0.0 | ||||||||||||||||
430,634 | # | JPMorgan Chase Commerical Mortgage Securities Corp., 6.135%, 07/12/37 | 431,036 | 0.0 | |||||||||||||||
467,073 | JPMorgan Mortgage Trust, 5.280%, 07/25/35 | 471,216 | 0.1 | ||||||||||||||||
22,856,522 | ˆ | JPMorgan Chase Commerical Mortgage Securities Corp., 1.449%–5.247%, 01/12/43–08/15/46 | 2,408,924 | 0.3 | |||||||||||||||
660,000 | # | LB-UBS Commercial Mortgage Trust, 5.032%, 10/15/36 | 648,114 | 0.1 | |||||||||||||||
453,000 | # | LB-UBS Commercial Mortgage Trust, 5.246%, 02/15/40 | 380,718 | 0.1 | |||||||||||||||
260,000 | # | LB-UBS Commercial Mortgage Trust, 5.750%, 01/15/36 | 260,083 | 0.0 |
AS OF OCTOBER 31, 2012 (CONTINUED)
Principal Amount† | | | | Value | | Percentage of Net Assets | |||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
COLLATERALIZED MORTGAGE OBLIGATIONS: (continued) | |||||||||||||||||||
United States: (continued) | |||||||||||||||||||
3,907,000 | LB-UBS Commercial Mortgage Trust, 4.943%–5.886%, 10/15/36–06/15/38 | $ | 4,026,772 | 0.5 | |||||||||||||||
1,398,666 | Merrill Lynch Mortgage Investors, Inc., 5.250%, 08/25/36 | 1,416,153 | 0.2 | ||||||||||||||||
1,119,771 | Merrill Lynch/Countrywide Commercial Mortgage Trust, 5.331%, 03/12/51 | 1,152,744 | 0.1 | ||||||||||||||||
1,330,000 | # | Morgan Stanley Capital I, 5.421%, 01/13/41 | 1,331,227 | 0.2 | |||||||||||||||
2,650,000 | # | Morgan Stanley Reremic Trust, 5.843%, 12/17/43 | 2,697,386 | 0.3 | |||||||||||||||
2,910,000 | Morgan Stanley Capital I, Inc., 5.397%–5.576%, 06/15/38–04/12/49 | 2,974,322 | 0.4 | ||||||||||||||||
3,124,757 | Morgan Stanley Capital I, 5.302%–5.576%, 01/14/42–04/12/49 | 3,210,376 | 0.4 | ||||||||||||||||
960,000 | # | RBSCF Trust, 5.305%, 01/16/49 | 978,868 | 0.1 | |||||||||||||||
12,000,000 | #, ˆ | UBS-Barclays Commercial Mortgage Trust, 2.210%, 08/10/49 | 1,691,051 | 0.2 | |||||||||||||||
2,368,000 | Wachovia Bank Commercial Mortgage Trust, 5.750%, 06/15/49 | 2,735,024 | 0.4 | ||||||||||||||||
1,096,000 | # | Wachovia Bank Commercial Mortgage Trust, 5.704%, 02/15/35 | 1,093,269 | 0.1 | |||||||||||||||
11,270,000 | #, ˆ | Wells Fargo Commercial Mortgage Trust, 2.167%, 10/15/45 | 1,547,670 | 0.2 | |||||||||||||||
1,623,170 | Wells Fargo Mortgage-Backed Securities Trust, 5.338%, 08/25/35 | 1,646,416 | 0.2 | ||||||||||||||||
15,527,543 | #, ˆ | WF-RBS Commercial Mortgage Trust, 2.073%, 11/15/44 | 1,881,609 | 0.2 | |||||||||||||||
5,249,719 | #, ˆ | WF-RBS Commercial Mortgage Trust, 2.259%, 08/15/45 | 708,759 | 0.1 | |||||||||||||||
811,445 | Wells Fargo Mortgage Backed Securities Trust, 5.000%–5.235%, 05/25/35–11/25/36 | 832,178 | 0.1 | ||||||||||||||||
20,695,401 | Other Securities(a) | 8,006,773 | 1.0 | ||||||||||||||||
Total Collateralized Mortgage Obligations (Cost $60,156,436) | 61,019,829 | 7.6 | |||||||||||||||||
FOREIGN GOVERNMENT BONDS: 37.6% | |||||||||||||||||||
Angola: 0.1% | |||||||||||||||||||
1,000,000 | Other Securities | $ | 1,122,500 | 0.1 | |||||||||||||||
Argentina: 0.3% | |||||||||||||||||||
5,279,193 | Other Securities | 2,186,585 | 0.3 | ||||||||||||||||
Aruba: 0.1% | |||||||||||||||||||
470,000 | # | Aruba Government Bond, 4.625%, 09/14/23 | 472,350 | 0.1 | |||||||||||||||
Austria: 0.9% | |||||||||||||||||||
EUR 4,940,000 | # | Austria Government Bond, 3.200%, 02/20/17 | 7,092,017 | 0.9 | |||||||||||||||
Belarus: 0.1% | |||||||||||||||||||
650,000 | Other Securities | 651,625 | 0.1 | ||||||||||||||||
Bolivia: 0.0% | |||||||||||||||||||
300,000 | # | Bolivian Government International Bond, 4.875%, 10/29/22 | 302,250 | 0.0 | |||||||||||||||
Brazil: 7.1% | |||||||||||||||||||
BRL 101,729,000 | Brazil Notas do Tesouro Nacional Series F, 10.000%, 01/01/23 | 52,223,180 | 6.5 | ||||||||||||||||
4,519,000 | Brazilian Government International Bond, 2.625%, 01/05/23 | 4,519,000 | 0.6 | ||||||||||||||||
56,742,180 | 7.1 | ||||||||||||||||||
Canada: 1.0% | |||||||||||||||||||
CAD 6,000,000 | Canadian Government Bond, 1.500%, 03/01/17 | 6,055,089 | 0.7 | ||||||||||||||||
CAD 1,600,000 | Canadian Government Bond, 4.000%, 06/01/41 | 2,139,074 | 0.3 | ||||||||||||||||
8,194,163 | 1.0 | ||||||||||||||||||
Chile: 0.2% | |||||||||||||||||||
1,450,000 | Other Securities | 1,421,000 | 0.2 | ||||||||||||||||
Colombia: 0.4% | |||||||||||||||||||
2,453,000 | Colombia Government International Bond, 6.125%–7.375%, 09/18/37–01/18/41 | 3,577,690 | 0.4 | ||||||||||||||||
Costa Rica: 0.1% | |||||||||||||||||||
724,000 | Other Securities | 982,830 | 0.1 | ||||||||||||||||
Croatia: 0.2% | |||||||||||||||||||
1,716,000 | Other Securities | 1,953,529 | 0.2 | ||||||||||||||||
Dominican Republic: 0.1% | |||||||||||||||||||
400,000 | Other Securities | 473,000 | 0.1 | ||||||||||||||||
Egypt: 0.0% | |||||||||||||||||||
330,000 | Other Securities | 331,650 | 0.0 |
AS OF OCTOBER 31, 2012 (CONTINUED)
Principal Amount† | | | | Value | | Percentage of Net Assets | |||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
FOREIGN GOVERNMENT BONDS: (continued) | |||||||||||||||||||
El Salvador: 0.1% | |||||||||||||||||||
927,000 | Other Securities | $ | 1,082,272 | 0.1 | |||||||||||||||
France: 3.7% | |||||||||||||||||||
EUR 22,800,000 | France Government Bond OAT, 2.250%, 10/25/22 | 29,579,773 | 3.7 | ||||||||||||||||
Germany: 2.3% | |||||||||||||||||||
EUR 6,470,000 | Bundesobligation, 0.500%, 04/07/17 | 8,429,399 | 1.0 | ||||||||||||||||
EUR 6,420,000 | Bundesrepublik Deutschland, 1.750%, 07/04/22 | 8,553,732 | 1.1 | ||||||||||||||||
EUR 1,150,000 | Bundesrepublik Deutschland, 2.500%, 07/04/44 | 1,553,369 | 0.2 | ||||||||||||||||
EUR 40,000 | Bundesschatzanweisungen, 0.250%, 03/14/14 | 52,023 | 0.0 | ||||||||||||||||
18,588,523 | 2.3 | ||||||||||||||||||
Ghana: 0.1% | |||||||||||||||||||
695,000 | Other Securities | 809,675 | 0.1 | ||||||||||||||||
Hungary: 0.3% | |||||||||||||||||||
2,016,000 | Other Securities | 2,255,501 | 0.3 | ||||||||||||||||
Iraq: 0.1% | |||||||||||||||||||
950,000 | Other Securities | 890,625 | 0.1 | ||||||||||||||||
Italy: 5.3% | |||||||||||||||||||
EUR 16,388,000 | Italy Buoni Poliennali Del Tesoro, 5.500%, 09/01/22 | 22,358,473 | 2.8 | ||||||||||||||||
EUR 15,200,000 | Italy Buoni Poliennali Del Tesoro, 5.500%, 11/01/22 | 20,643,724 | 2.5 | ||||||||||||||||
43,002,197 | 5.3 | ||||||||||||||||||
Ivory Coast: 0.2% | |||||||||||||||||||
1,540,000 | Other Securities(b) | 1,397,550 | 0.2 | ||||||||||||||||
Latvia: 0.1% | |||||||||||||||||||
700,000 | Other Securities | 797,125 | 0.1 | ||||||||||||||||
Lebanon: 0.2% | |||||||||||||||||||
1,750,000 | Other Securities | 1,767,500 | 0.2 | ||||||||||||||||
Lithuania: 0.3% | |||||||||||||||||||
1,074,000 | # | Lithuania Government International Bond, 5.125%, 09/14/17 | 1,206,907 | 0.2 | |||||||||||||||
255,000 | # | Lithuania Government International Bond, 6.625%, 02/01/22 | 316,519 | 0.0 | |||||||||||||||
600,000 | Other Securities | 744,750 | 0.1 | ||||||||||||||||
2,268,176 | 0.3 | ||||||||||||||||||
Malaysia: 0.6% | |||||||||||||||||||
MYR 13,940,000 | Malaysia Government Bond, 4.392%, 04/15/26 | 4,951,089 | 0.6 | ||||||||||||||||
FOREIGN GOVERNMENT BONDS: (continued) | |||||||||||||||||||
Mexico: 2.0% | |||||||||||||||||||
MXN 181,500,000 | Mexican Bonos, 7.750%, 11/13/42 | $ | 15,881,458 | 2.0 | |||||||||||||||
Netherlands: 1.6% | |||||||||||||||||||
EUR 8,650,000 | # | Netherlands Government Bond, 4.500%, 07/15/17 | 13,169,298 | 1.6 | |||||||||||||||
Nigeria: 1.0% | |||||||||||||||||||
NGN 785,000,000 | Nigeria Government Bond, 15.100%, 04/27/17 | 5,317,968 | 0.7 | ||||||||||||||||
NGN 335,000,000 | Nigeria Government Bond, 16.000%, 06/29/19 | 2,399,347 | 0.3 | ||||||||||||||||
7,717,315 | 1.0 | ||||||||||||||||||
Panama: 0.3% | |||||||||||||||||||
1,426,000 | Other Securities | 2,073,512 | 0.3 | ||||||||||||||||
Peru: 0.3% | |||||||||||||||||||
1,776,000 | Peruvian Government International Bond, 5.625%, 11/18/50 | 2,308,800 | 0.3 | ||||||||||||||||
Philippines: 0.6% | |||||||||||||||||||
3,779,000 | Philippine Government International Bond, 4.000%, 01/15/21 | 4,246,651 | 0.5 | ||||||||||||||||
711,000 | Philippine Government International Bond, 6.375%, 01/15/32 | 975,848 | 0.1 | ||||||||||||||||
5,222,499 | 0.6 | ||||||||||||||||||
Poland: 0.3% | |||||||||||||||||||
1,993,000 | Other Securities | 2,058,150 | 0.3 | ||||||||||||||||
Republic Of Serbia: 0.1% | |||||||||||||||||||
1,000,000 | Other Securities | 1,072,500 | 0.1 | ||||||||||||||||
Romania: 0.1% | |||||||||||||||||||
828,000 | Other Securities | 959,445 | 0.1 | ||||||||||||||||
Russia: 1.0% | |||||||||||||||||||
RUB 126,333,000 | Russian Federal Bond–OFZ, 8.150%, 02/03/27 | 4,217,477 | 0.5 | ||||||||||||||||
600,000 | # | Russian Foreign Bond–Eurobond, 3.250%, 04/04/17 | 638,214 | 0.1 | |||||||||||||||
2,323,750 | Russian Foreign Bond–Eurobond, 5.625%–7.500%, 03/31/30–04/04/42 | 2,869,812 | 0.4 | ||||||||||||||||
7,725,503 | 1.0 | ||||||||||||||||||
Slovakia: 0.1% | |||||||||||||||||||
400,000 | Other Securities | 428,956 | 0.1 | ||||||||||||||||
Slovenia: 0.2% | |||||||||||||||||||
1,700,000 | # | Slovenia Government International Bond, 5.500%, 10/26/22 | 1,722,950 | 0.2 |
AS OF OCTOBER 31, 2012 (CONTINUED)
Principal Amount† | | | | Value | | Percentage of Net Assets | |||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
FOREIGN GOVERNMENT BONDS: (continued) | |||||||||||||||||||
South Africa: 3.0% | |||||||||||||||||||
ZAR 128,256,000 | South Africa Government Bond, 6.250%, 03/31/36 | $ | 11,443,409 | 1.4 | |||||||||||||||
ZAR 112,400,000 | South Africa Government Bond, 8.750%, 02/28/48 | 13,017,109 | 1.6 | ||||||||||||||||
24,460,518 | 3.0 | ||||||||||||||||||
South Korea: 0.1% | |||||||||||||||||||
500,000 | # | Korea Housing Finance Corp., 4.125%, 12/15/15 | 541,688 | 0.1 | |||||||||||||||
Sri Lanka: 0.2% | |||||||||||||||||||
1,133,000 | # | Sri Lanka Government International Bond, 5.875%, 07/25/22 | 1,246,300 | 0.2 | |||||||||||||||
Thailand: 0.2% | |||||||||||||||||||
THB 51,500,000 | Other Securities | 1,884,164 | 0.2 | ||||||||||||||||
Turkey: 0.9% | |||||||||||||||||||
3,851,000 | Turkey Government International Bond, 7.500%, 11/07/19 | 4,898,472 | 0.6 | ||||||||||||||||
1,849,000 | Turkey Government International Bond, 6.000%–6.250%, 09/26/22–01/14/41 | 2,216,486 | 0.3 | ||||||||||||||||
7,114,958 | 0.9 | ||||||||||||||||||
Ukraine: 0.5% | |||||||||||||||||||
3,900,000 | Ukraine Government International Bond, 9.250%, 07/24/17 | 4,272,723 | 0.5 | ||||||||||||||||
United Kingdom: 0.5% | |||||||||||||||||||
GBP 1,690,000 | United Kingdom Gilt, 4.500%, 12/07/42 | 3,467,098 | 0.4 | ||||||||||||||||
GBP 200,000 | United Kingdom Gilt, 1.750%–2.250%, 03/07/14–01/22/17 | 334,386 | 0.1 | ||||||||||||||||
3,801,484 | 0.5 | ||||||||||||||||||
Uruguay: 0.2% | |||||||||||||||||||
1,039,696 | Other Securities | 1,623,706 | 0.2 | ||||||||||||||||
Venezuela: 0.3% | |||||||||||||||||||
2,351,200 | Venezuela Government International Bond, 11.750%, 10/21/26 | 2,392,346 | 0.3 | ||||||||||||||||
Vietnam: 0.1% | |||||||||||||||||||
550,000 | Other Securities | 644,875 | 0.1 | ||||||||||||||||
FOREIGN GOVERNMENT BONDS: (continued) | |||||||||||||||||||
Zambia: 0.1% | |||||||||||||||||||
650,000 | # | Zambia Government International Bond, 5.375%, 09/20/22 | $ | 658,125 | 0.1 | ||||||||||||||
Total Foreign Government Bonds (Cost $298,962,489) | 301,874,648 | 37.6 | |||||||||||||||||
U.S. TREASURY OBLIGATIONS: 7.8% | |||||||||||||||||||
U.S. Treasury Bonds: 2.9% | |||||||||||||||||||
24,252,000 | 2.750%, due 08/15/42 | 23,679,798 | 2.9 | ||||||||||||||||
U.S. Treasury Notes: 4.9% | |||||||||||||||||||
11,130,100 | 0.250%, due 09/30/14 | 11,124,446 | 1.4 | ||||||||||||||||
7,384,000 | 0.250%, due 10/15/15 | 7,356,310 | 0.9 | ||||||||||||||||
7,486,000 | 0.625%, due 09/30/17 | 7,460,854 | 0.9 | ||||||||||||||||
7,733,000 | 1.000%, due 09/30/19 | 7,668,360 | 1.0 | ||||||||||||||||
5,840,000 | 1.625%, due 08/15/22 | 5,802,589 | 0.7 | ||||||||||||||||
39,412,559 | 4.9 | ||||||||||||||||||
Total U.S. Treasury Obligations (Cost $63,004,122) | 63,092,357 | 7.8 | |||||||||||||||||
U.S. GOVERNMENT AGENCY OBLIGATIONS: 12.6% | |||||||||||||||||||
Federal Home Loan Mortgage Corporation: 3.7%## | |||||||||||||||||||
6,437,264 | 0.664%, due 06/15/37 | 6,499,455 | 0.8 | ||||||||||||||||
14,836,000 | 1.000%, due 09/29/17 | 14,959,643 | 1.9 | ||||||||||||||||
14,179,160 | ˆ | 6.436%, due 02/15/41 | 3,155,677 | 0.4 | |||||||||||||||
16,781,693 | ˆ, Z | 2.630%–5.836%, due 11/29/19–07/15/40 | 5,114,743 | 0.6 | |||||||||||||||
29,729,518 | 3.7 | ||||||||||||||||||
Federal National Mortgage Association: 5.9%## | |||||||||||||||||||
5,693,221 | 0.831%, due 12/25/36 | 5,759,749 | 0.7 | ||||||||||||||||
6,000,000 | 1.250%, due 08/22/18 | 5,996,436 | 0.8 | ||||||||||||||||
5,000,000 | ˆˆ, Z | 1.920%, due 10/09/19 | 4,380,180 | 0.6 | |||||||||||||||
10,976,000 | W | 3.000%, due 07/25/42 | 11,512,796 | 1.4 | |||||||||||||||
30,104,779 | ˆ, W | 3.000%–32.397%, due 05/25/18–09/25/42 | 19,558,224 | 2.4 | |||||||||||||||
47,207,385 | 5.9 | ||||||||||||||||||
Government National Mortgage Association: 3.0% | |||||||||||||||||||
2,912,744 | 0.731%, due 12/20/38 | 2,933,295 | 0.4 | ||||||||||||||||
10,824,000 | W | 3.000%, due 08/15/42 | 11,453,991 | 1.4 | |||||||||||||||
40,151,013 | ˆ | 4.000%–24.515%, due 03/20/37–10/20/60 | 10,029,155 | 1.2 | |||||||||||||||
24,416,441 | 3.0 | ||||||||||||||||||
Total U.S. Government Agency Obligations (Cost $98,870,155) | 101,353,344 | 12.6 |
AS OF OCTOBER 31, 2012 (CONTINUED)
# of Contracts | | | | Value | | Percentage of Net Assets | |||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
PURCHASED OPTIONS: 0.4% | |||||||||||||||||||
Interest Rate Swaptions: 0.3% | |||||||||||||||||||
38,178,000 | @ | Call Swaption, Receive a fixed rate equal to 1.500% and pay a floating based on 3-month-USD-LIBOR, Exp. 11/29/12 Counterparty: Citigroup, Inc. | $ | 44,258 | 0.0 | ||||||||||||||
8,728,000 | @ | Call Swaption, Receive a floating rate based on 3-month-USD-LIBOR and pay a fixed rate equal to 2.828%, Exp. 10/25/13 Counterparty: Deutsche Bank AG | 651,545 | 0.1 | |||||||||||||||
8,728,000 | @ | Call Swaption, Receive a floating rate based on 3-month-USD-LIBOR and pay a fixed rate equal to 2.828%, Exp. 10/25/13 Counterparty: Deutsche Bank AG | 767,252 | 0.1 | |||||||||||||||
38,504,000 | @ | Put Swaption, Receive a fixed rate equal to 1.185% and pay a floating based on 3-month-USD-LIBOR, Exp. 01/31/13 Counterparty: Citigroup, Inc. | 56,394 | 0.0 | |||||||||||||||
8,728,000 | @ | Put Swaption, Receive a fixed rate equal to 2.828% and pay a floating based on 3-month-USD-LIBOR, Exp. 10/25/13 Counterparty: Deutsche Bank AG | 651,545 | 0.1 | |||||||||||||||
8,728,000 | @ | Put Swaption, Receive a fixed rate equal to 2.828% and pay a floating based on 3-month-USD-LIBOR, Exp. 10/25/13 Counterparty: Deutsche Bank AG | 526,648 | 0.0 | |||||||||||||||
2,697,642 | 0.3 | ||||||||||||||||||
Options on Currencies: 0.1% | |||||||||||||||||||
36,900,000 | @ | EUR Put vs. USD Call Currency Option, Strike @ 1.275 Exp. 01/04/13 Counterparty: Barclays Bank PLC | 252,242 | 0.0 | |||||||||||||||
37,600,000 | @ | JPY Put vs. USD Call Currency Option, Strike @ 80.500 Exp. 01/04/13 Counterparty: Deutsche Bank AG | 309,774 | 0.1 | |||||||||||||||
15,200,000 | @ | USD Put vs. MYR Call Currency Option, Strike @ 3.000 Exp. 01/16/13 Counterparty: Deutsche Bank AG | 49,056 | 0.0 | |||||||||||||||
PURCHASED OPTIONS: (continued) | |||||||||||||||||||
Options on Currencies: (continued) | |||||||||||||||||||
22,800,000 | @ | ZAR Put vs. USD Call Currency Option, Strike @ 9.000 Exp. 11/30/12 Counterparty: Deutsche Bank AG | $ | 139,874 | 0.0 | ||||||||||||||
750,946 | 0.1 | ||||||||||||||||||
Total Purchased Options (Cost $4,400,952) | 3,448,588 | 0.4 | |||||||||||||||||
Total Long-Term Investments (Cost $708,632,654) | 729,778,672 | 90.8 | |||||||||||||||||
Principal Amount† | | | | Value | | Percentage of Net Assets | |||||||||||||
SHORT-TERM INVESTMENTS: 14.8% | |||||||||||||||||||
Commercial Paper: 9.7% | |||||||||||||||||||
6,500,000 | Concord Minutemen Capital Co., 0.430%, 01/02/13 | 6,495,060 | 0.8 | ||||||||||||||||
12,000,000 | Crown Point Capital, 0.280%, 11/02/12 | 11,999,813 | 1.5 | ||||||||||||||||
7,500,000 | Devon Energy Corp., 0.330%, 11/09/12 | 7,499,381 | 0.9 | ||||||||||||||||
1,384,000 | General Mills Inc., 0.260%, 11/01/12 | 1,383,990 | 0.2 | ||||||||||||||||
3,665,000 | General Mills Inc., 0.270%, 11/19/12 | 3,664,488 | 0.5 | ||||||||||||||||
1,600,000 | General Mills Inc., 0.280%, 11/14/12 | 1,599,826 | 0.2 | ||||||||||||||||
351,000 | General Mills Inc., 0.270%, 11/20/12 | 350,947 | 0.0 | ||||||||||||||||
7,500,000 | Z | Kinder Morgan Energy, 0.430%, 11/06/12 | 7,499,462 | 0.9 | |||||||||||||||
8,000,000 | Z | Kroger Co., 0.450%, 11/06/12 | 7,999,400 | 1.0 | |||||||||||||||
6,500,000 | Potash Corp., 0.300%, 11/30/12 | 6,498,402 | 0.9 | ||||||||||||||||
8,000,000 | United HealthCare, 0.320%, 11/05/12 | 7,999,644 | 1.0 | ||||||||||||||||
7,500,000 | Verizon Global Funding Corp., 2.000%, 12/03/12 | 7,497,242 | 0.9 | ||||||||||||||||
7,500,000 | Weatherford International Ltd., 0.520%, 11/02/12 | 7,499,783 | 0.9 | ||||||||||||||||
77,987,438 | 9.7 | ||||||||||||||||||
Foreign Government Bonds: 1.6% | |||||||||||||||||||
MYR 40,500,000 | Z | Bank Negara Malaysia Monetary Notes, 2.900%, 04/23/13 (Cost $13,046,110) | 13,112,640 | 1.6 |
AS OF OCTOBER 31, 2012 (CONTINUED)
Shares | | | | Value | | Percentage of Net Assets | |||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
SHORT-TERM INVESTMENTS: (continued) | |||||||||||||||||||
Mutual Funds: 3.5% | |||||||||||||||||||
28,143,000 | BlackRock Liquidity Funds, TempFund, Institutional Class (Cost $28,143,000) | $ | 28,143,000 | 3.5 | |||||||||||||||
Total Short-Term Investments (Cost $119,176,548) | 119,243,078 | 14.8 | |||||||||||||||||
Total Investments in Securities (Cost $827,809,202) | $ | 849,021,750 | 105.6 | ||||||||||||||||
Liabilities in Excess of Other Assets | (45,041,119 | ) | (5.6 | ) | |||||||||||||||
Net Assets | $ | 803,980,631 | 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 |
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. |
ˆˆ | Principal only securities represent the right to receive the monthly principal payments on an underlying pool of mortgage loans. No payments of interest on the pool are passed through the principal only security. |
Z | Indicates Zero Coupon Bond; rate shown reflects current effective yield. |
(a) | The grouping contains Interest only securities. |
(b) | The grouping contains securities in default. |
BRL | Brazilian Real |
CAD | Canadian Dollar |
EUR | EU Euro |
GBP | British Pound |
MXN | Mexican Peso |
MYR | Malaysian Ringgit |
NGN | Nigerian Naira |
RUB | Russian Ruble |
THB | Thai Baht |
ZAR | South African Rand |
Cost for federal income tax purposes is $829,383,111. |
Net unrealized appreciation consists of: | ||||||
Gross Unrealized Appreciation | $ | 25,516,791 | ||||
Gross Unrealized Depreciation | (5,878,152 | ) | ||||
Net Unrealized Appreciation | $ | 19,638,639 |
Sector Diversification | Percentage of Net Assets | |||||
---|---|---|---|---|---|---|
Foreign Government Bonds | 37.6 | % | ||||
Collateralized Mortgage Obligations | 8.2 | |||||
U.S. Treasury Obligations | 7.1 | |||||
Federal National Mortgage Association | 5.9 | |||||
Financials | 5.8 | |||||
Energy | 5.4 | |||||
Federal Home Loan Mortgage Corporation | 3.7 | |||||
Government National Mortgage Association | 3.0 | |||||
Consumer Discretionary | 2.2 | |||||
Corporate Bonds/Notes | 2.0 | |||||
Consumer Staples | 1.6 | |||||
Utilities | 1.6 | |||||
Telecommunication Services | 1.4 | |||||
Information Technology | 1.3 | |||||
Industrials | 1.3 | |||||
Health Care | 0.9 | |||||
U.S. Treasury Notes | 0.7 | |||||
Materials | 0.7 | |||||
Interest Rate Swaptions | 0.3 | |||||
Options on Currencies | 0.1 | |||||
Short-Term Investments | 14.8 | |||||
Liabilities in Excess of Other Assets | (5.6 | ) | ||||
Net Assets | 100.0 | % |
AS OF OCTOBER 31, 2012 (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 10/31/2012 | |||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Asset Table | ||||||||||||||||||
Investments, at fair value | ||||||||||||||||||
Purchased Options | $ | — | $ | 3,448,588 | $ | — | $ | 3,448,588 | ||||||||||
Corporate Bonds/Notes | — | 198,989,906 | — | 198,989,906 | ||||||||||||||
Collateralized Mortgage Obligations | — | 61,019,829 | — | 61,019,829 | ||||||||||||||
Short-Term Investments | 28,143,000 | 91,100,078 | — | 119,243,078 | ||||||||||||||
Foreign Government Bonds | — | 301,874,648 | — | 301,874,648 | ||||||||||||||
U.S. Treasury Obligations | — | 63,092,357 | — | 63,092,357 | ||||||||||||||
U.S. Government Agency Obligations | — | 101,353,344 | — | 101,353,344 | ||||||||||||||
Total Investments, at fair value | $ | 28,143,000 | $ | 820,878,750 | $ | — | $ | 849,021,750 | ||||||||||
Other Financial Instruments+ | ||||||||||||||||||
Swaps | — | 228,607 | — | 228,607 | ||||||||||||||
Futures | 491,566 | — | — | 491,566 | ||||||||||||||
Forward Foreign Currency Contracts | — | 15,056,820 | — | 15,056,820 | ||||||||||||||
Total Assets | $ | 28,634,566 | $ | 836,164,177 | $ | — | $ | 864,798,743 | ||||||||||
Liabilities Table | ||||||||||||||||||
Other Financial Instruments+ | ||||||||||||||||||
Swaps | $ | — | $ | (8,501,863 | ) | $ | — | $ | (8,501,863 | ) | ||||||||
Futures | (632,379 | ) | — | — | (632,379 | ) | ||||||||||||
Written Options | — | (217,804 | ) | — | (217,804 | ) | ||||||||||||
Forward Foreign Currency Contracts | — | (11,560,519 | ) | — | (11,560,519 | ) | ||||||||||||
Total Liabilities | $ | (632,379 | ) | $ | (20,280,186 | ) | $ | — | $ | (20,912,565 | ) |
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. |
Counterparty | Currency | Contract Amount | Buy/Sell | Settlement Date | In Exchange For | Fair Value | Unrealized Appreciation (Depreciation) | |||||||||||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Barclays Bank PLC | EU Euro | 2,569,081 | Buy | 11/30/12 | $ | 3,332,000 | $ | 3,330,802 | $ | (1,198 | ) | |||||||||||||||||||
Barclays Bank PLC | EU Euro | 833,401 | Buy | 11/30/12 | 1,083,515 | 1,080,501 | (3,014 | ) | ||||||||||||||||||||||
Barclays Bank PLC | EU Euro | 2,745,555 | Buy | 11/30/12 | 3,559,000 | 3,559,600 | 600 | |||||||||||||||||||||||
Barclays Bank PLC | EU Euro | 11,826,810 | Buy | 11/30/12 | 15,497,000 | 15,333,406 | (163,594 | ) | ||||||||||||||||||||||
Barclays Bank PLC | EU Euro | 995,709 | Buy | 11/30/12 | 1,287,000 | 1,290,933 | 3,933 | |||||||||||||||||||||||
Barclays Bank PLC | Canadian Dollar | 45,000 | Buy | 11/30/12 | 46,065 | 45,028 | (1,037 | ) | ||||||||||||||||||||||
Barclays Bank PLC | EU Euro | 5,678,353 | Buy | 11/30/12 | 7,403,000 | 7,361,960 | (41,040 | ) | ||||||||||||||||||||||
Barclays Bank PLC | British Pound | 179,783 | Buy | 01/11/13 | 289,587 | 290,058 | 471 | |||||||||||||||||||||||
Barclays Bank PLC | Russian Ruble | 492,590,745 | Buy | 11/30/12 | 15,426,000 | 15,622,675 | 196,675 | |||||||||||||||||||||||
Barclays Bank PLC | British Pound | 3,797,289 | Buy | 01/11/13 | 6,088,000 | 6,126,458 | 38,458 | |||||||||||||||||||||||
Barclays Bank PLC | Russian Ruble | 1,815,371 | Buy | 11/30/12 | 55,257 | 57,575 | 2,318 | |||||||||||||||||||||||
Barclays Bank PLC | Canadian Dollar | 2,863,668 | Buy | 11/30/12 | 2,876,000 | 2,865,416 | (10,584 | ) | ||||||||||||||||||||||
Barclays Bank PLC | EU Euro | 5,844,179 | Buy | 11/30/12 | 7,222,891 | 7,576,952 | 354,061 | |||||||||||||||||||||||
Barclays Bank PLC | Canadian Dollar | 14,055,300 | Buy | 11/30/12 | 14,174,207 | 14,063,879 | (110,328 | ) | ||||||||||||||||||||||
Barclays Bank PLC | Swiss Franc | 2,535,404 | Buy | 01/11/13 | 2,699,070 | 2,725,631 | 26,561 | |||||||||||||||||||||||
Barclays Bank PLC | Singapore Dollar | 4,805,932 | Buy | 01/11/13 | 3,895,850 | 3,939,857 | 44,007 | |||||||||||||||||||||||
Citigroup, Inc. | South Korean Won | 4,012,783,640 | Buy | 11/30/12 | 3,677,000 | 3,673,028 | (3,972 | ) | ||||||||||||||||||||||
Citigroup, Inc. | Japanese Yen | 438,912,146 | Buy | 11/30/12 | 5,502,000 | 5,499,429 | (2,571 | ) | ||||||||||||||||||||||
Citigroup, Inc. | EU Euro | 414,462 | Buy | 11/30/12 | 536,000 | 537,348 | 1,348 | |||||||||||||||||||||||
Citigroup, Inc. | Mexican Peso | 15,057,145 | Buy | 11/30/12 | 1,157,000 | 1,146,425 | (10,575 | ) | ||||||||||||||||||||||
Citigroup, Inc. | Japanese Yen | 249,664,058 | Buy | 11/30/12 | 3,127,000 | 3,128,211 | 1,211 |
AS OF OCTOBER 31, 2012 (CONTINUED)
Counterparty | Currency | Contract Amount | Buy/Sell | Settlement Date | In Exchange For | Fair Value | Unrealized Appreciation (Depreciation) | |||||||||||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Citigroup, Inc. | South Korean Won | 5,356,164 | Buy | 11/30/12 | $ | 4,851 | $ | 4,902 | $ | 51 | ||||||||||||||||||||
Citigroup, Inc. | Thai Baht | 213,240,882 | Buy | 11/30/12 | 6,924,529 | 6,943,469 | 18,940 | |||||||||||||||||||||||
Citigroup, Inc. | Australian Dollar | 2,573,194 | Buy | 11/30/12 | 2,651,000 | 2,664,562 | 13,562 | |||||||||||||||||||||||
Citigroup, Inc. | Canadian Dollar | 2,441,617 | Buy | 11/30/12 | 2,457,000 | 2,443,107 | (13,893 | ) | ||||||||||||||||||||||
Citigroup, Inc. | EU Euro | 4,197,182 | Buy | 11/30/12 | 5,468,000 | 5,441,627 | (26,373 | ) | ||||||||||||||||||||||
Citigroup, Inc. | EU Euro | 1,697,765 | Buy | 11/30/12 | 2,197,000 | 2,201,145 | 4,145 | |||||||||||||||||||||||
Citigroup, Inc. | South Korean Won | 6,512,741,700 | Buy | 11/30/12 | 5,829,000 | 5,961,320 | 132,320 | |||||||||||||||||||||||
Citigroup, Inc. | Czech Koruna | 2,056,326 | Buy | 11/30/12 | 105,709 | 106,238 | 529 | |||||||||||||||||||||||
Citigroup, Inc. | South Korean Won | 515,000,000 | Buy | 11/30/12 | 458,658 | 471,395 | 12,737 | |||||||||||||||||||||||
Citigroup, Inc. | Australian Dollar | 2,350,873 | Buy | 11/30/12 | 2,436,000 | 2,434,346 | (1,654 | ) | ||||||||||||||||||||||
Citigroup, Inc. | Norwegian Krone | 28,764,745 | Buy | 01/11/13 | 4,972,000 | 5,031,777 | 59,777 | |||||||||||||||||||||||
Citigroup, Inc. | Norwegian Krone | 14,748,484 | Buy | 01/11/13 | 2,593,000 | 2,579,932 | (13,068 | ) | ||||||||||||||||||||||
Citigroup, Inc. | British Pound | 3,078,918 | Buy | 01/11/13 | 4,948,000 | 4,967,455 | 19,455 | |||||||||||||||||||||||
Citigroup, Inc. | Russian Ruble | 415,481,871 | Buy | 11/30/12 | 12,641,847 | 13,177,142 | 535,295 | |||||||||||||||||||||||
Citigroup, Inc. | Canadian Dollar | 1,192,566 | Buy | 11/30/12 | 1,205,000 | 1,193,294 | (11,706 | ) | ||||||||||||||||||||||
Citigroup, Inc. | British Pound | 4,804,887 | Buy | 01/11/13 | 7,690,000 | 7,752,093 | 62,093 | |||||||||||||||||||||||
Citigroup, Inc. | Hungarian Forint | 561,407,999 | Buy | 01/11/13 | 2,530,095 | 2,544,637 | 14,542 | |||||||||||||||||||||||
Citigroup, Inc. | Canadian Dollar | 6,558,395 | Buy | 11/30/12 | 6,609,000 | 6,562,398 | (46,602 | ) | ||||||||||||||||||||||
Citigroup, Inc. | EU Euro | 23,118,622 | Buy | 11/30/12 | 28,996,000 | 29,973,191 | 977,191 | |||||||||||||||||||||||
Citigroup, Inc. | Canadian Dollar | 3,511,060 | Buy | 11/30/12 | 3,533,000 | 3,513,203 | (19,797 | ) | ||||||||||||||||||||||
Citigroup, Inc. | Hungarian Forint | 3,660,148,689 | Buy | 01/11/13 | 16,686,180 | 16,589,982 | (96,198 | ) | ||||||||||||||||||||||
Citigroup, Inc. | Israeli New Shekel | 5,794,841 | Buy | 11/30/12 | 1,431,292 | 1,490,117 | 58,825 | |||||||||||||||||||||||
Citigroup, Inc. | Mexican Peso | 103,614,429 | Buy | 11/30/12 | 7,769,055 | 7,889,023 | 119,968 | |||||||||||||||||||||||
Citigroup, Inc. | Polish Zloty | 39,298,346 | Buy | 11/30/12 | 11,733,529 | 12,264,330 | 530,801 | |||||||||||||||||||||||
Citigroup, Inc. | EU Euro | 1,804,562 | Buy | 11/30/12 | 2,235,000 | 2,339,606 | 104,606 | |||||||||||||||||||||||
Credit Suisse First Boston | South African Rand | 188,911 | Buy | 11/30/12 | 21,692 | 21,691 | (1 | ) | ||||||||||||||||||||||
Credit Suisse First Boston | EU Euro | 4,713,031 | Buy | 11/30/12 | 6,117,000 | 6,110,423 | (6,577 | ) | ||||||||||||||||||||||
Credit Suisse First Boston | Australian Dollar | 913,335 | Buy | 11/30/12 | 937,533 | 945,765 | 8,232 | |||||||||||||||||||||||
Credit Suisse First Boston | Canadian Dollar | 2,050,165 | Buy | 11/30/12 | 2,088,000 | 2,051,417 | (36,583 | ) | ||||||||||||||||||||||
Credit Suisse First Boston | Turkish Lira | 16,404,909 | Buy | 11/30/12 | 9,092,108 | 9,114,041 | 21,933 | |||||||||||||||||||||||
Credit Suisse First Boston | Canadian Dollar | 2,428,393 | Buy | 11/30/12 | 2,501,000 | 2,429,876 | (71,124 | ) | ||||||||||||||||||||||
Credit Suisse First Boston | EU Euro | 10,261,999 | Buy | 11/30/12 | 13,325,000 | 13,304,636 | (20,364 | ) | ||||||||||||||||||||||
Credit Suisse First Boston | Norwegian Krone | 65,067,703 | Buy | 01/11/13 | 11,467,000 | 11,382,202 | (84,798 | ) | ||||||||||||||||||||||
Credit Suisse First Boston | Mexican Peso | 70,988,145 | Buy | 11/30/12 | 5,419,949 | 5,404,915 | (15,034 | ) | ||||||||||||||||||||||
Credit Suisse First Boston | Norwegian Krone | 29,709,338 | Buy | 01/11/13 | 5,184,000 | 5,197,013 | 13,013 | |||||||||||||||||||||||
Credit Suisse First Boston | Norwegian Krone | 14,535,120 | Buy | 01/11/13 | 2,537,000 | 2,542,608 | 5,608 | |||||||||||||||||||||||
Credit Suisse First Boston | South African Rand | 97,886,521 | Buy | 11/30/12 | 11,490,989 | 11,239,309 | (251,680 | ) | ||||||||||||||||||||||
Credit Suisse First Boston | Norwegian Krone | 42,639,455 | Buy | 01/11/13 | 7,453,000 | 7,458,860 | 5,860 | |||||||||||||||||||||||
Credit Suisse First Boston | British Pound | 2,275,285 | Buy | 01/11/13 | 3,673,000 | 3,670,893 | (2,107 | ) | ||||||||||||||||||||||
Credit Suisse First Boston | British Pound | 5,564,962 | Buy | 01/11/13 | 9,035,000 | 8,978,381 | (56,619 | ) | ||||||||||||||||||||||
Credit Suisse First Boston | Japanese Yen | 183,318,320 | Buy | 11/30/12 | 2,314,000 | 2,296,920 | (17,080 | ) | ||||||||||||||||||||||
Credit Suisse First Boston | Norwegian Krone | 18,084,788 | Buy | 01/11/13 | 3,155,000 | 3,163,547 | 8,547 | |||||||||||||||||||||||
Credit Suisse First Boston | Danish Krone | 11,481,481 | Buy | 01/11/13 | 1,982,294 | 1,997,821 | 15,527 | |||||||||||||||||||||||
Credit Suisse First Boston | British Pound | 1,760,128 | Buy | 01/11/13 | 2,844,145 | 2,839,750 | (4,395 | ) | ||||||||||||||||||||||
Credit Suisse First Boston | Norwegian Krone | 128,992,236 | Buy | 01/11/13 | 22,270,713 | 22,564,432 | 293,719 | |||||||||||||||||||||||
Credit Suisse First Boston | New Zealand Dollar | 17,804,202 | Buy | 01/11/13 | 14,505,938 | 14,571,239 | 65,301 | |||||||||||||||||||||||
Credit Suisse First Boston | Swedish Krona | 81,666,722 | Buy | 01/11/13 | 12,296,272 | 12,286,085 | (10,187 | ) | ||||||||||||||||||||||
Deutsche Bank AG | South Korean Won | 2,185,883,700 | Buy | 11/30/12 | 2,002,000 | 2,000,809 | (1,191 | ) | ||||||||||||||||||||||
Deutsche Bank AG | Mexican Peso | 19,146,957 | Buy | 11/30/12 | 1,465,218 | 1,457,816 | (7,402 | ) | ||||||||||||||||||||||
Deutsche Bank AG | South Korean Won | 6,523,078,500 | Buy | 11/30/12 | 5,949,000 | 5,970,781 | 21,781 | |||||||||||||||||||||||
Deutsche Bank AG | EU Euro | 4,598,973 | Buy | 11/30/12 | 6,002,000 | 5,962,548 | (39,452 | ) | ||||||||||||||||||||||
Deutsche Bank AG | Canadian Dollar | 7,474,147 | Buy | 11/30/12 | 7,612,000 | 7,478,709 | (133,291 | ) | ||||||||||||||||||||||
Deutsche Bank AG | South African Rand | 121,354,989 | Buy | 11/30/12 | 13,790,752 | 13,933,955 | 143,203 | |||||||||||||||||||||||
Deutsche Bank AG | EU Euro | 12,042,609 | Buy | 11/30/12 | 15,592,000 | 15,613,190 | 21,190 | |||||||||||||||||||||||
Deutsche Bank AG | Russian Ruble | 225,491,200 | Buy | 11/30/12 | 7,210,412 | 7,151,527 | (58,885 | ) | ||||||||||||||||||||||
Deutsche Bank AG | EU Euro | 5,809,453 | Buy | 11/30/12 | 7,572,000 | 7,531,930 | (40,070 | ) | ||||||||||||||||||||||
Deutsche Bank AG | Russian Ruble | 1,219,790 | Buy | 11/30/12 | 39,023 | 38,686 | (337 | ) | ||||||||||||||||||||||
Deutsche Bank AG | South African Rand | 46,713,962 | Buy | 11/30/12 | 5,442,356 | 5,363,687 | (78,669 | ) | ||||||||||||||||||||||
Deutsche Bank AG | Turkish Lira | 23,093,908 | Buy | 11/30/12 | 12,799,422 | 12,830,234 | 30,812 | |||||||||||||||||||||||
Deutsche Bank AG | Australian Dollar | 10,927,854 | Buy | 11/30/12 | 11,269,000 | 11,315,876 | 46,876 | |||||||||||||||||||||||
Deutsche Bank AG | Mexican Peso | 33,845,927 | Buy | 11/30/12 | 2,621,185 | 2,576,971 | (44,214 | ) | ||||||||||||||||||||||
Deutsche Bank AG | Polish Zloty | 28,234,122 | Buy | 11/30/12 | 8,790,000 | 8,811,378 | 21,378 | |||||||||||||||||||||||
Deutsche Bank AG | Australian Dollar | 1,922,482 | Buy | 11/30/12 | 2,002,000 | 1,990,745 | (11,255 | ) | ||||||||||||||||||||||
Deutsche Bank AG | Canadian Dollar | 5,352,722 | Buy | 11/30/12 | 5,480,000 | 5,355,989 | (124,011 | ) |
AS OF OCTOBER 31, 2012 (CONTINUED)
Counterparty | Currency | Contract Amount | Buy/Sell | Settlement Date | In Exchange For | Fair Value | Unrealized Appreciation (Depreciation) | |||||||||||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Deutsche Bank AG | Canadian Dollar | 14,643,344 | Buy | 11/30/12 | $ | 14,991,000 | $ | 14,652,282 | $ | (338,718 | ) | |||||||||||||||||||
Deutsche Bank AG | Japanese Yen | 262,389,375 | Buy | 11/30/12 | 3,375,000 | 3,287,655 | (87,345 | ) | ||||||||||||||||||||||
Deutsche Bank AG | South African Rand | 146,120,205 | Buy | 11/30/12 | 17,787,000 | 16,777,491 | (1,009,509 | ) | ||||||||||||||||||||||
Deutsche Bank AG | EU Euro | 11,154,606 | Buy | 11/30/12 | 14,071,112 | 14,461,898 | 390,786 | |||||||||||||||||||||||
Deutsche Bank AG | Indian Rupee | 868,528,403 | Buy | 12/14/12 | 15,911,485 | 16,005,672 | 94,187 | |||||||||||||||||||||||
Deutsche Bank AG | Indian Rupee | 485,418,400 | Buy | 12/14/12 | 8,858,000 | 8,945,531 | 87,531 | |||||||||||||||||||||||
Deutsche Bank AG | Russian Ruble | 600,000,000 | Buy | 11/30/12 | 18,248,175 | 19,029,194 | 781,019 | |||||||||||||||||||||||
Deutsche Bank AG | South African Rand | 77,543,799 | Buy | 11/30/12 | 9,098,405 | 8,903,562 | (194,843 | ) | ||||||||||||||||||||||
Deutsche Bank AG | South African Rand | 93,217,000 | �� | Buy | 11/30/12 | 10,950,656 | 10,703,156 | (247,500 | ) | |||||||||||||||||||||
Deutsche Bank AG | Argentine Peso | 37,657,690 | Buy | 01/11/13 | 7,577,000 | 7,457,236 | (119,764 | ) | ||||||||||||||||||||||
Deutsche Bank AG | Australian Dollar | 2,616,961 | Buy | 11/30/12 | 2,706,000 | 2,709,882 | 3,882 | |||||||||||||||||||||||
Deutsche Bank AG | Chilean Peso | 982,779,818 | Buy | 01/11/13 | 2,074,200 | 2,021,357 | (52,843 | ) | ||||||||||||||||||||||
Deutsche Bank AG | Taiwan New Dollar | 20,475,156 | Buy | 11/30/12 | 682,505 | 700,844 | 18,339 | |||||||||||||||||||||||
Deutsche Bank AG | EU Euro | 38,305,235 | Buy | 11/30/12 | 47,271,801 | 49,662,568 | 2,390,767 | |||||||||||||||||||||||
Deutsche Bank AG | Japanese Yen | 8,382,131,480 | Buy | 11/30/12 | 105,641,584 | 105,025,422 | (616,162 | ) | ||||||||||||||||||||||
Deutsche Bank AG | South Korean Won | 3,594,450,378 | Buy | 11/30/12 | 3,145,934 | 3,290,114 | 144,180 | |||||||||||||||||||||||
Deutsche Bank AG | Malaysian Ringgit | 16,220,005 | Buy | 11/30/12 | 5,156,246 | 5,312,460 | 156,214 | |||||||||||||||||||||||
Deutsche Bank AG | Turkish Lira | 11,943,055 | Buy | 11/30/12 | 6,532,378 | 6,635,178 | 102,800 | |||||||||||||||||||||||
HSBC | Colombian Peso | 12,244,682,400 | Buy | 11/30/12 | 6,774,000 | 6,659,188 | (114,812 | ) | ||||||||||||||||||||||
HSBC | South Korean Won | 13,066,649,750 | Buy | 11/30/12 | 11,605,000 | 11,960,320 | 355,320 | |||||||||||||||||||||||
HSBC | Australian Dollar | 7,196,276 | Buy | 11/30/12 | 7,339,000 | 7,451,798 | 112,798 | |||||||||||||||||||||||
HSBC | Australian Dollar | 7,196,629 | Buy | 11/30/12 | 7,339,000 | 7,452,164 | 113,164 | |||||||||||||||||||||||
HSBC | Australian Dollar | 8,529,159 | �� | Buy | 11/30/12 | 8,748,000 | 8,832,008 | 84,008 | ||||||||||||||||||||||
JPMorgan Chase & Co. | South Korean Won | 2,887,176,200 | Buy | 11/30/12 | 2,645,000 | 2,642,724 | (2,276 | ) | ||||||||||||||||||||||
JPMorgan Chase & Co. | Canadian Dollar | 12,047,181 | Buy | 11/30/12 | 12,046,000 | 12,054,534 | 8,534 | |||||||||||||||||||||||
JPMorgan Chase & Co. | EU Euro | 9,248,438 | Buy | 11/30/12 | 11,933,000 | 11,990,558 | 57,558 | |||||||||||||||||||||||
JPMorgan Chase & Co. | EU Euro | 2,035,066 | Buy | 11/30/12 | 2,629,672 | 2,638,454 | 8,782 | |||||||||||||||||||||||
JPMorgan Chase & Co. | Turkish Lira | 109,450 | Buy | 11/30/12 | 60,487 | 60,807 | 320 | |||||||||||||||||||||||
JPMorgan Chase & Co. | Australian Dollar | 3,285,095 | Buy | 11/30/12 | 3,393,000 | 3,401,740 | 8,740 | |||||||||||||||||||||||
JPMorgan Chase & Co. | Japanese Yen | 240,548,260 | Buy | 11/30/12 | 3,012,000 | 3,013,993 | 1,993 | |||||||||||||||||||||||
JPMorgan Chase & Co. | Russian Ruble | 322,451,788 | Buy | 11/30/12 | 10,324,239 | 10,226,663 | (97,576 | ) | ||||||||||||||||||||||
JPMorgan Chase & Co. | EU Euro | 3,978,466 | Buy | 11/30/12 | 5,210,000 | 5,158,063 | (51,937 | ) | ||||||||||||||||||||||
JPMorgan Chase & Co. | Canadian Dollar | 7,482,497 | Buy | 11/30/12 | 7,612,000 | 7,487,064 | (124,936 | ) | ||||||||||||||||||||||
JPMorgan Chase & Co. | Mexican Peso | 238,633,675 | Buy | 11/30/12 | 18,503,286 | 18,169,155 | (334,131 | ) | ||||||||||||||||||||||
JPMorgan Chase & Co. | Australian Dollar | 7,121,851 | Buy | 11/30/12 | 7,403,000 | 7,374,730 | (28,270 | ) | ||||||||||||||||||||||
JPMorgan Chase & Co. | Czech Koruna | 2,137,440 | Buy | 11/30/12 | 111,964 | 110,428 | (1,536 | ) | ||||||||||||||||||||||
JPMorgan Chase & Co. | Australian Dollar | 11,961,601 | Buy | 11/30/12 | 12,434,000 | 12,386,328 | (47,672 | ) | ||||||||||||||||||||||
JPMorgan Chase & Co. | Mexican Peso | 97,099,362 | Buy | 11/30/12 | 7,284,000 | 7,392,977 | 108,977 | |||||||||||||||||||||||
JPMorgan Chase & Co. | Mexican Peso | 100,281,347 | Buy | 11/30/12 | 7,503,000 | 7,635,248 | 132,248 | |||||||||||||||||||||||
UBS Warburg LLC | Australian Dollar | 1,240,743 | Buy | 11/30/12 | 1,274,000 | 1,284,799 | 10,799 | |||||||||||||||||||||||
UBS Warburg LLC | EU Euro | 8,714,482 | Buy | 11/30/12 | 11,417,000 | 11,298,288 | (118,712 | ) | ||||||||||||||||||||||
UBS Warburg LLC | Australian Dollar | 2,506,874 | Buy | 11/30/12 | 2,602,000 | 2,595,887 | (6,113 | ) | ||||||||||||||||||||||
UBS Warburg LLC | Japanese Yen | 788,966,995 | Buy | 11/30/12 | 10,026,000 | 9,885,504 | (140,496 | ) | ||||||||||||||||||||||
UBS Warburg LLC | Norwegian Krone | 18,565,591 | Buy | 01/11/13 | 3,208,000 | 3,247,653 | 39,653 | |||||||||||||||||||||||
UBS Warburg LLC | Australian Dollar | 3,898,675 | Buy | 11/30/12 | 4,083,000 | 4,037,107 | (45,893 | ) | ||||||||||||||||||||||
UBS Warburg LLC | Australian Dollar | 7,172,099 | Buy | 11/30/12 | 7,451,000 | 7,426,762 | (24,238 | ) | ||||||||||||||||||||||
UBS Warburg LLC | Canadian Dollar | 2,983,403 | Buy | 11/30/12 | 3,045,000 | 2,985,224 | (59,776 | ) | ||||||||||||||||||||||
UBS Warburg LLC | South African Rand | 30,417,525 | Buy | 11/30/12 | 3,669,000 | 3,492,534 | (176,466 | ) | ||||||||||||||||||||||
UBS Warburg LLC | British Pound | 1,312,095 | Buy | 01/11/13 | 2,098,000 | 2,116,904 | 18,904 | |||||||||||||||||||||||
UBS Warburg LLC | British Pound | 1,046,231 | Buy | 01/11/13 | 1,693,000 | 1,687,964 | (5,036 | ) | ||||||||||||||||||||||
UBS Warburg LLC | Australian Dollar | 2,434,123 | Buy | 11/30/12 | 2,529,000 | 2,520,552 | (8,448 | ) | ||||||||||||||||||||||
UBS Warburg LLC | Australian Dollar | 5,012,761 | Buy | 11/30/12 | 5,191,000 | 5,190,752 | (248 | ) | ||||||||||||||||||||||
$ | 3,541,177 | |||||||||||||||||||||||||||||
Barclays Bank PLC | Australian Dollar | 7,352,571 | Sell | 11/30/12 | $ | 7,598,000 | $ | 7,613,643 | $ | (15,643 | ) | |||||||||||||||||||
Barclays Bank PLC | Canadian Dollar | 4,738,007 | Sell | 11/30/12 | 4,824,000 | 4,740,899 | 83,101 | |||||||||||||||||||||||
Barclays Bank PLC | South Korean Won | 2,887,669,500 | Sell | 11/30/12 | 2,591,000 | 2,643,176 | (52,176 | ) | ||||||||||||||||||||||
Barclays Bank PLC | South African Rand | 51,284,663 | Sell | 11/30/12 | 6,073,000 | 5,888,494 | 184,506 | |||||||||||||||||||||||
Barclays Bank PLC | South African Rand | 48,774,799 | Sell | 11/30/12 | 5,821,021 | 5,600,312 | 220,709 | |||||||||||||||||||||||
Barclays Bank PLC | EU Euro | 11,592,404 | Sell | 11/30/12 | 14,981,525 | 15,029,501 | (47,976 | ) | ||||||||||||||||||||||
Barclays Bank PLC | EU Euro | 11,571,997 | Sell | 11/30/12 | 14,956,308 | 15,003,042 | (46,734 | ) | ||||||||||||||||||||||
Barclays Bank PLC | South Korean Won | 6,252,906,000 | Sell | 11/30/12 | 5,573,000 | 5,723,484 | (150,484 | ) | ||||||||||||||||||||||
Barclays Bank PLC | British Pound | 2,342,887 | Sell | 01/11/13 | 3,776,000 | 3,779,959 | (3,959 | ) |
AS OF OCTOBER 31, 2012 (CONTINUED)
Counterparty | Currency | Contract Amount | Buy/Sell | Settlement Date | In Exchange For | Fair Value | Unrealized Appreciation (Depreciation) | |||||||||||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Barclays Bank PLC | British Pound | 3,458,320 | Sell | 01/11/13 | $ | 5,535,000 | $ | 5,579,574 | $ | (44,574 | ) | |||||||||||||||||||
Barclays Bank PLC | EU Euro | 4,842,049 | Sell | 11/30/12 | 6,094,000 | 6,277,696 | (183,696 | ) | ||||||||||||||||||||||
Barclays Bank PLC | EU Euro | 8,846,501 | Sell | 11/30/12 | 11,147,423 | 11,469,450 | (322,027 | ) | ||||||||||||||||||||||
Barclays Bank PLC | British Pound | 981,223 | Sell | 01/11/13 | 1,577,000 | 1,583,082 | (6,082 | ) | ||||||||||||||||||||||
Barclays Bank PLC | Mexican Peso | 16,915,604 | Sell | 11/30/12 | 1,275,000 | 1,287,925 | (12,925 | ) | ||||||||||||||||||||||
Barclays Bank PLC | Hungarian Forint | 1,705,456,675 | Sell | 01/11/13 | 7,565,970 | 7,730,149 | (164,179 | ) | ||||||||||||||||||||||
Citigroup, Inc. | South Korean Won | 3,051,370,140 | Sell | 11/30/12 | 2,753,000 | 2,793,016 | (40,016 | ) | ||||||||||||||||||||||
Citigroup, Inc. | South Korean Won | 2,956,658,880 | Sell | 11/30/12 | 2,676,000 | 2,706,324 | (30,324 | ) | ||||||||||||||||||||||
Citigroup, Inc. | South Korean Won | 8,369,857,650 | Sell | 11/30/12 | 7,513,000 | 7,661,197 | (148,197 | ) | ||||||||||||||||||||||
Citigroup, Inc. | South African Rand | 9,774,558 | Sell | 11/30/12 | 1,185,014 | 1,122,313 | 62,701 | |||||||||||||||||||||||
Citigroup, Inc. | South African Rand | 24,518,671 | Sell | 11/30/12 | 2,977,960 | 2,815,229 | 162,731 | |||||||||||||||||||||||
Citigroup, Inc. | British Pound | 2,819,306 | Sell | 01/11/13 | 4,519,000 | 4,548,602 | (29,602 | ) | ||||||||||||||||||||||
Citigroup, Inc. | Swedish Krona | 12,666,090 | Sell | 01/11/13 | 1,900,000 | 1,905,509 | (5,509 | ) | ||||||||||||||||||||||
Citigroup, Inc. | British Pound | 1,474,652 | Sell | 01/11/13 | 2,350,000 | 2,379,170 | (29,170 | ) | ||||||||||||||||||||||
Citigroup, Inc. | EU Euro | 3,383,366 | Sell | 11/30/12 | 4,267,000 | 4,386,519 | (119,519 | ) | ||||||||||||||||||||||
Citigroup, Inc. | Canadian Dollar | 7,132,277 | Sell | 11/30/12 | 7,176,000 | 7,136,630 | 39,370 | |||||||||||||||||||||||
Citigroup, Inc. | Mexican Peso | 12,794,437 | Sell | 11/30/12 | 948,000 | 974,146 | (26,146 | ) | ||||||||||||||||||||||
Citigroup, Inc. | New Zealand Dollar | 606,170 | Sell | 01/11/13 | 493,000 | 496,099 | (3,099 | ) | ||||||||||||||||||||||
Citigroup, Inc. | EU Euro | 11,596,517 | Sell | 11/30/12 | 14,567,000 | 15,034,833 | (467,833 | ) | ||||||||||||||||||||||
Citigroup, Inc. | Mexican Peso | 165,161 | Sell | 11/30/12 | 12,417 | 12,575 | (158 | ) | ||||||||||||||||||||||
Citigroup, Inc. | South African Rand | 421,630,697 | Sell | 11/30/12 | 50,029,990 | 48,411,548 | 1,618,442 | |||||||||||||||||||||||
Credit Suisse First Boston | Mexican Peso | 26,785,723 | Sell | 11/30/12 | 2,057,000 | 2,039,419 | 17,581 | |||||||||||||||||||||||
Credit Suisse First Boston | Australian Dollar | 2,475,647 | Sell | 11/30/12 | 2,534,000 | 2,563,551 | (29,551 | ) | ||||||||||||||||||||||
Credit Suisse First Boston | Mexican Peso | 73,276 | Sell | 11/30/12 | 5,670 | 5,579 | 91 | |||||||||||||||||||||||
Credit Suisse First Boston | Japanese Yen | 535,747,453 | Sell | 11/30/12 | 6,906,000 | 6,712,744 | 193,256 | |||||||||||||||||||||||
Credit Suisse First Boston | Turkish Lira | 5,573,894 | Sell | 11/30/12 | 3,081,127 | 3,096,677 | (15,550 | ) | ||||||||||||||||||||||
Credit Suisse First Boston | Norwegian Krone | 17,951,629 | Sell | 01/11/13 | 3,138,000 | 3,140,253 | (2,253 | ) | ||||||||||||||||||||||
Credit Suisse First Boston | Norwegian Krone | 31,778,454 | Sell | 01/11/13 | 5,527,000 | 5,558,961 | (31,961 | ) | ||||||||||||||||||||||
Credit Suisse First Boston | Swedish Krona | 12,588,028 | Sell | 01/11/13 | 1,900,000 | 1,893,765 | 6,235 | |||||||||||||||||||||||
Credit Suisse First Boston | Norwegian Krone | 17,792,094 | Sell | 01/11/13 | 3,122,000 | 3,112,346 | 9,654 | |||||||||||||||||||||||
Credit Suisse First Boston | Norwegian Krone | 49,718,001 | Sell | 01/11/13 | 8,758,000 | 8,697,101 | 60,899 | |||||||||||||||||||||||
Credit Suisse First Boston | Norwegian Krone | 43,230,848 | Sell | 01/11/13 | 7,644,000 | 7,562,312 | 81,688 | |||||||||||||||||||||||
Credit Suisse First Boston | South African Rand | 17,213,237 | Sell | 11/30/12 | 2,020,659 | 1,976,421 | 44,238 | |||||||||||||||||||||||
Credit Suisse First Boston | Australian Dollar | 2,971,721 | Sell | 11/30/12 | 3,059,000 | 3,077,239 | (18,239 | ) | ||||||||||||||||||||||
Credit Suisse First Boston | Australian Dollar | 23,956,315 | Sell | 11/30/12 | 24,761,055 | 24,806,945 | (45,890 | ) | ||||||||||||||||||||||
Credit Suisse First Boston | Czech Koruna | 82,393,065 | Sell | 11/30/12 | 4,071,986 | 4,256,734 | (184,748 | ) | ||||||||||||||||||||||
Credit Suisse First Boston | British Pound | 2,163,027 | Sell | 01/11/13 | 3,497,160 | 3,489,777 | 7,383 | |||||||||||||||||||||||
Credit Suisse First Boston | South African Rand | 15,968,364 | Sell | 11/30/12 | 1,932,939 | 1,833,484 | 99,455 | |||||||||||||||||||||||
Deutsche Bank AG | EU Euro | 15,911,021 | Sell | 11/30/12 | 20,649,578 | 20,628,569 | 21,009 | |||||||||||||||||||||||
Deutsche Bank AG | Canadian Dollar | 5,843,949 | Sell | 11/30/12 | 5,874,000 | 5,847,516 | 26,484 | |||||||||||||||||||||||
Deutsche Bank AG | EU Euro | 7,807 | Sell | 11/30/12 | 10,223 | 10,121 | 102 | |||||||||||||||||||||||
Deutsche Bank AG | South African Rand | 12,307,038 | Sell | 11/30/12 | 1,390,000 | 1,413,091 | (23,091 | ) | ||||||||||||||||||||||
Deutsche Bank AG | Canadian Dollar | 5,671,515 | Sell | 11/30/12 | 5,780,000 | 5,674,977 | 105,023 | |||||||||||||||||||||||
Deutsche Bank AG | Australian Dollar | 4,458,940 | Sell | 11/30/12 | 4,558,000 | 4,617,266 | (59,266 | ) | ||||||||||||||||||||||
Deutsche Bank AG | EU Euro | 5,824,069 | Sell | 11/30/12 | 7,572,000 | 7,550,879 | 21,121 | |||||||||||||||||||||||
Deutsche Bank AG | Thai Baht | 114,085,085 | Sell | 11/30/12 | 3,685,371 | 3,714,795 | (29,424 | ) | ||||||||||||||||||||||
Deutsche Bank AG | Australian Dollar | 9,842,381 | Sell | 11/30/12 | 10,224,000 | 10,191,860 | 32,140 | |||||||||||||||||||||||
Deutsche Bank AG | EU Euro | 5,605,478 | Sell | 11/30/12 | 7,266,000 | 7,267,477 | (1,477 | ) | ||||||||||||||||||||||
Deutsche Bank AG | Mexican Peso | 163,473 | Sell | 11/30/12 | 12,628 | 12,447 | 181 | |||||||||||||||||||||||
Deutsche Bank AG | British Pound | 3,288,527 | Sell | 01/11/13 | 5,268,000 | 5,305,633 | (37,633 | ) | ||||||||||||||||||||||
Deutsche Bank AG | Mexican Peso | 207,981,864 | Sell | 11/30/12 | 15,888,000 | 15,835,379 | 52,621 | |||||||||||||||||||||||
Deutsche Bank AG | Australian Dollar | 2,607,176 | Sell | 11/30/12 | 2,680,000 | 2,699,751 | (19,751 | ) | ||||||||||||||||||||||
Deutsche Bank AG | Australian Dollar | 2,949,258 | Sell | 11/30/12 | 3,044,000 | 3,053,979 | (9,979 | ) | ||||||||||||||||||||||
Deutsche Bank AG | Australian Dollar | 3,247,500 | Sell | 11/30/12 | 3,362,000 | 3,362,810 | (810 | ) | ||||||||||||||||||||||
Deutsche Bank AG | Russian Ruble | 279,952,280 | Sell | 11/30/12 | 8,678,000 | 8,878,777 | (200,777 | ) | ||||||||||||||||||||||
Deutsche Bank AG | Thai Baht | 151,336,278 | Sell | 11/30/12 | 4,773,262 | 4,927,755 | (154,493 | ) | ||||||||||||||||||||||
Deutsche Bank AG | Russian Ruble | 1,215,455,792 | Sell | 11/30/12 | 37,265,059 | 38,548,573 | (1,283,514 | ) | ||||||||||||||||||||||
Deutsche Bank AG | New Zealand Dollar | 1,886,395 | Sell | 01/11/13 | 1,557,000 | 1,543,855 | 13,145 | |||||||||||||||||||||||
Deutsche Bank AG | Australian Dollar | 3,580,011 | Sell | 11/30/12 | 3,732,000 | 3,707,128 | 24,872 | |||||||||||||||||||||||
Deutsche Bank AG | South African Rand | 46,917,421 | Sell | 11/30/12 | 5,664,995 | 5,387,048 | 277,947 | |||||||||||||||||||||||
Deutsche Bank AG | Mexican Peso | 59,042,079 | Sell | 11/30/12 | 4,453,104 | 4,495,361 | (42,257 | ) | ||||||||||||||||||||||
HSBC | South African Rand | 24,600,220 | Sell | 11/30/12 | 2,780,000 | 2,824,592 | (44,592 | ) | ||||||||||||||||||||||
HSBC | Colombian Peso | 8,554,530,467 | Sell | 11/30/12 | 4,723,911 | 4,652,324 | 71,587 | |||||||||||||||||||||||
HSBC | Canadian Dollar | 14,733,594 | Sell | 11/30/12 | 15,026,000 | 14,742,587 | 283,413 |
AS OF OCTOBER 31, 2012 (CONTINUED)
Counterparty | Currency | Contract Amount | Buy/Sell | Settlement Date | In Exchange For | Fair Value | Unrealized Appreciation (Depreciation) | |||||||||||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
HSBC | Norwegian Krone | 64,855,598 | Sell | 01/11/13 | $ | 11,467,000 | $ | 11,345,099 | $ | 121,901 | ||||||||||||||||||||
HSBC | Brazilian Real | 42,395,917 | Sell | 01/11/13 | 20,693,048 | 20,664,182 | 28,866 | |||||||||||||||||||||||
JPMorgan Chase & Co. | Mexican Peso | 186,155 | Sell | 11/30/12 | 14,232 | 14,174 | 58 | |||||||||||||||||||||||
JPMorgan Chase & Co. | Australian Dollar | 7,351,525 | Sell | 11/30/12 | 7,598,000 | 7,612,560 | (14,560 | ) | ||||||||||||||||||||||
JPMorgan Chase & Co. | Canadian Dollar | 11,343,027 | Sell | 11/30/12 | 11,398,000 | 11,349,951 | 48,049 | |||||||||||||||||||||||
JPMorgan Chase & Co. | Mexican Peso | 69,393,924 | Sell | 11/30/12 | 5,325,098 | 5,283,534 | 41,564 | |||||||||||||||||||||||
JPMorgan Chase & Co. | Canadian Dollar | 193,086 | Sell | 11/30/12 | 194,000 | 193,204 | 796 | |||||||||||||||||||||||
JPMorgan Chase & Co. | Mexican Peso | 26,143,277 | Sell | 11/30/12 | 2,018,000 | 1,990,504 | 27,496 | |||||||||||||||||||||||
JPMorgan Chase & Co. | Mexican Peso | 144,954,066 | Sell | 11/30/12 | 11,271,112 | 11,036,551 | 234,561 | |||||||||||||||||||||||
JPMorgan Chase & Co. | Canadian Dollar | 4,869,383 | Sell | 11/30/12 | 4,971,000 | 4,872,355 | 98,645 | |||||||||||||||||||||||
JPMorgan Chase & Co. | South African Rand | 12,358,858 | Sell | 11/30/12 | 1,390,000 | 1,419,042 | (29,042 | ) | ||||||||||||||||||||||
JPMorgan Chase & Co. | Australian Dollar | 2,409,419 | Sell | 11/30/12 | 2,460,000 | 2,494,972 | (34,972 | ) | ||||||||||||||||||||||
JPMorgan Chase & Co. | EU Euro | 2,496,273 | Sell | 11/30/12 | 3,241,026 | 3,236,407 | 4,619 | |||||||||||||||||||||||
JPMorgan Chase & Co. | Australian Dollar | 2,483,319 | Sell | 11/30/12 | 2,529,000 | 2,571,496 | (42,496 | ) | ||||||||||||||||||||||
JPMorgan Chase & Co. | Mexican Peso | 467,178 | Sell | 11/30/12 | 36,246 | 35,570 | 676 | |||||||||||||||||||||||
JPMorgan Chase & Co. | Mexican Peso | 191,587,606 | Sell | 11/30/12 | 14,733,655 | 14,587,149 | 146,506 | |||||||||||||||||||||||
JPMorgan Chase & Co. | Turkish Lira | 20,238,429 | Sell | 11/30/12 | 11,213,756 | 11,243,822 | (30,066 | ) | ||||||||||||||||||||||
JPMorgan Chase & Co. | Turkish Lira | 13,171,329 | Sell | 11/30/12 | 7,265,449 | 7,317,568 | (52,119 | ) | ||||||||||||||||||||||
JPMorgan Chase & Co. | EU Euro | 10,747,293 | Sell | 11/30/12 | 14,095,000 | 13,933,818 | 161,182 | |||||||||||||||||||||||
JPMorgan Chase & Co. | Canadian Dollar | 7,042,786 | Sell | 11/30/12 | 7,246,000 | 7,047,085 | 198,915 | |||||||||||||||||||||||
JPMorgan Chase & Co. | Australian Dollar | 3,156,573 | Sell | 11/30/12 | 3,273,000 | 3,268,655 | 4,345 | |||||||||||||||||||||||
JPMorgan Chase & Co. | Canadian Dollar | 3,434,976 | Sell | 11/30/12 | 3,526,000 | 3,437,073 | 88,927 | |||||||||||||||||||||||
JPMorgan Chase & Co. | New Zealand Dollar | 2,905,648 | Sell | 01/11/13 | 2,359,000 | 2,378,028 | (19,028 | ) | ||||||||||||||||||||||
JPMorgan Chase & Co. | Japanese Yen | 47,041,063 | Sell | 11/30/12 | 602,000 | 589,409 | 12,591 | |||||||||||||||||||||||
JPMorgan Chase & Co. | EU Euro | 17,483,753 | Sell | 11/30/12 | 22,097,995 | 22,667,608 | (569,613 | ) | ||||||||||||||||||||||
JPMorgan Chase & Co. | EU Euro | 2,831,800 | Sell | 11/30/12 | 3,582,000 | 3,671,416 | (89,416 | ) | ||||||||||||||||||||||
JPMorgan Chase & Co. | British Pound | 3,461,496 | Sell | 01/11/13 | 5,580,000 | 5,584,697 | (4,697 | ) | ||||||||||||||||||||||
JPMorgan Chase & Co. | British Pound | 9,697,906 | Sell | 01/11/13 | 15,576,000 | 15,646,376 | (70,376 | ) | ||||||||||||||||||||||
JPMorgan Chase & Co. | Mexican Peso | 202,323 | Sell | 11/30/12 | 15,019 | 15,405 | (386 | ) | ||||||||||||||||||||||
JPMorgan Chase & Co. | Mexican Peso | 148,363 | Sell | 11/30/12 | 11,165 | 11,296 | (131 | ) | ||||||||||||||||||||||
UBS Warburg LLC | Australian Dollar | 10,888,996 | Sell | 11/30/12 | 11,269,000 | 11,275,637 | (6,637 | ) | ||||||||||||||||||||||
UBS Warburg LLC | EU Euro | 11,262,139 | Sell | 11/30/12 | 14,764,000 | 14,601,314 | 162,686 | |||||||||||||||||||||||
UBS Warburg LLC | British Pound | 1,417,470 | Sell | 01/11/13 | 2,281,000 | 2,286,913 | (5,913 | ) | ||||||||||||||||||||||
UBS Warburg LLC | Japanese Yen | 581,448,331 | Sell | 11/30/12 | 7,512,000 | 7,285,361 | 226,639 | |||||||||||||||||||||||
UBS Warburg LLC | Canadian Dollar | 5,460,985 | Sell | 11/30/12 | 5,587,000 | 5,464,318 | 122,682 | |||||||||||||||||||||||
UBS Warburg LLC | New Zealand Dollar | 2,872,290 | Sell | 01/11/13 | 2,321,000 | 2,350,727 | (29,727 | ) | ||||||||||||||||||||||
UBS Warburg LLC | British Pound | 1,515,546 | Sell | 01/11/13 | 2,425,000 | 2,445,147 | (20,147 | ) | ||||||||||||||||||||||
UBS Warburg LLC | Australian Dollar | 4,548,447 | Sell | 11/30/12 | 4,691,000 | 4,709,951 | (18,951 | ) | ||||||||||||||||||||||
UBS Warburg LLC | British Pound | 9,031,165 | Sell | 01/11/13 | 14,564,000 | 14,570,673 | (6,673 | ) | ||||||||||||||||||||||
UBS Warburg LLC | Norwegian Krone | 43,226,140 | Sell | 01/11/13 | 7,644,000 | 7,561,488 | 82,512 | |||||||||||||||||||||||
UBS Warburg LLC | Norwegian Krone | 38,464,874 | Sell | 01/11/13 | 6,819,000 | 6,728,607 | 90,393 | |||||||||||||||||||||||
UBS Warburg LLC | EU Euro | 2,473,524 | Sell | 11/30/12 | 3,119,000 | 3,206,913 | (87,913 | ) | ||||||||||||||||||||||
UBS Warburg LLC | Norwegian Krone | 19,993,510 | Sell | 01/11/13 | 3,539,000 | 3,497,437 | 41,563 | |||||||||||||||||||||||
UBS Warburg LLC | British Pound | 1,636,559 | Sell | 01/11/13 | 2,629,000 | 2,640,387 | (11,387 | ) | ||||||||||||||||||||||
UBS Warburg LLC | Australian Dollar | 1,378,206 | Sell | 11/30/12 | 1,413,000 | 1,427,143 | (14,143 | ) | ||||||||||||||||||||||
UBS Warburg LLC | Australian Dollar | 2,861,022 | Sell | 11/30/12 | 2,944,000 | 2,962,610 | (18,610 | ) | ||||||||||||||||||||||
UBS Warburg LLC | EU Euro | 10,774,773 | Sell | 11/30/12 | 13,519,000 | 13,969,446 | (450,446 | ) | ||||||||||||||||||||||
$ | (44,876 | ) |
AS OF OCTOBER 31, 2012 (CONTINUED)
Contract Description | Number of Contracts | Expiration Date | Notional Value | Unrealized Appreciation/ (Depreciation) | ||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Long Contracts | ||||||||||||||||||
30-year German Government Bond | 53 | 12/06/12 | $ | 9,077,432 | $ | 189,064 | ||||||||||||
Australia 10-Year Bond | 20 | 12/17/12 | 2,601,584 | 13,136 | ||||||||||||||
Australia 3-Year Bond | 108 | 12/17/12 | 12,328,082 | 1,338 | ||||||||||||||
Canada 10-Year Bond | 32 | 12/18/12 | 4,391,730 | 22,393 | ||||||||||||||
Euro-Bobl 5-Year | 118 | 12/06/12 | 19,245,049 | 116,090 | ||||||||||||||
Euro-Schatz | 434 | 12/06/12 | 62,271,620 | 54,254 | ||||||||||||||
Long Gilt | 185 | 12/27/12 | 35,568,770 | (340,058 | ) | |||||||||||||
Short Gilt | 6 | 12/27/12 | 1,010,764 | (93 | ) | |||||||||||||
U.S. Treasury 5-Year Note | 56 | 12/31/12 | 6,958,000 | (10,202 | ) | |||||||||||||
$ | 153,453,031 | $ | 45,922 | |||||||||||||||
Short Contracts | ||||||||||||||||||
Euro-Bund | (159 | ) | 12/06/12 | (29,198,362 | ) | (43,876 | ) | |||||||||||
Medium Gilt | (121 | ) | 12/27/12 | (22,264,141 | ) | 19,426 | ||||||||||||
U.S. Treasury 10-Year Note | (192 | ) | 12/19/12 | (25,542,000 | ) | (144,480 | ) | |||||||||||
U.S. Treasury 2-Year Note | (78 | ) | 12/31/12 | (17,185,593 | ) | 9,555 | ||||||||||||
U.S. Treasury Long Bond | (118 | ) | 12/19/12 | (17,618,875 | ) | (93,670 | ) | |||||||||||
U.S. Treasury Ultra Long Bond | (98 | ) | 12/19/12 | (16,179,188 | ) | 66,310 | ||||||||||||
$ | (127,988,159 | ) | $ | (186,735 | ) |
Counterparty | Reference Entity/Obligation | Buy/Sell Protection | (Pay)/ Receive Fixed Rate (%) | Termination Date | Notional Amount(2) | Fair Value(3) | Upfront Payments Paid/ (Received) | Unrealized Appreciation/ (Depreciation) | ||||||||||||||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Citigroup, Inc. | Bolivarian Republic of Venezuela | Buy | 5.000 | 12/20/17 | USD 1,888,000 | $ | 205,851 | $ | 205,465 | $ | 386 | |||||||||||||||||||||||
$ | 205,851 | $ | 205,465 | $ | 386 |
(1) | If a Fund is a buyer of protection and a credit event occurs, as defined under the terms of that particular swap agreement, a Fund will either i) receive from the seller of protection an amount equal to the notional amount of the swap and deliver the referenced obligation, other deliverable obligations or underlying securities comprising the referenced index or ii) receive a net settlement amount in the form of cash or securities equal to the notional amount of the swap less the recovery value of the referenced obligation or underlying securities comprising the referenced index. |
(2) | The maximum amount of future payments (undiscounted) that a Fund as seller of protection could be required to make or receive as a buyer of credit protection under a credit default swap agreement would be an amount equal to the notional amount of the agreement. |
(3) | The fair values for credit default swap agreements serve as an indicator of the current status of the payment/performance risk and represent the likelihood or risk of default for the credit derivative. Increasing fair values, in absolute terms, when compared to the notional amount of the agreement, represent a deterioration of the referenced obligation’s credit soundness and a greater likelihood or risk of default or other credit event occurring. |
Termination Date | Notional Amount | Fair Value | Upfront Payments Paid/ (Received) | Unrealized Appreciation/ (Depreciation) | ||||||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Receive a floating rate based on the Brazil Cetip Interbank Deposit Rate Annualized and pay a fixed rate equal to 10.360% Counterparty: Bank of America | 01/02/17 | BRL 84,000,000 | $(2,550,681) | $ | — | $ | (2,550,681 | ) | ||||||||||||||
Receive a floating rate based on the Brazil Cetip Interbank Deposit Rate Annualized and pay a fixed rate equal to 10.365% Counterparty: Deutsche Bank AG | 01/02/17 | BRL 47,000,000 | (1,430,431) | — | (1,430,431 | ) |
AS OF OCTOBER 31, 2012 (CONTINUED)
Termination Date | Notional Amount | Fair Value | Upfront Payments Paid/ (Received) | Unrealized Appreciation/ (Depreciation) | ||||||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Receive a floating rate based on the Brazil Cetip Interbank Deposit Rate Annualized and pay a fixed rate equal to 10.360% Counterparty: Morgan Stanley | 01/02/17 | BRL 48,000,000 | $(1,457,532) | $ | — | $ | (1,457,532 | ) | ||||||||||||||
Receive a fixed rate equal to 4.750% and pay a floating rate based on the 6-month CLP-CHIBNOM Counterparty: Bank of America | 02/01/17 | CLP 7,250,000,000 | (155,881) | — | (155,881 | ) | ||||||||||||||||
Receive a fixed rate equal to 4.790% and pay a floating rate based on the 6-month CLP-CHIBNOM Counterparty: Bank of America | 02/02/17 | CLP 7,250,000,000 | (131,278) | — | (131,278 | ) | ||||||||||||||||
Receive a fixed rate equal to 4.830% and pay a floating rate based on the 6-month CLP-CHIBNOM Counterparty: Bank of America | 02/03/17 | CLP 7,250,000,000 | (106,680) | — | (106,680 | ) | ||||||||||||||||
Receive a floating rate based on the 3-month KRW-CD-KSDA-Bloomberg and pay a fixed rate equal to 3.665% Counterparty: Bank of America | 04/05/17 | KRW 17,000,000,000 | (589,706) | — | (589,706 | ) | ||||||||||||||||
Receive a floating rate based on the 3-month KRW-CD-KSDA-Bloomberg and pay a fixed rate equal to 3.660% Counterparty: Credit Suisse Group AG | 03/26/17 | KRW 17,000,000,000 | (584,464) | — | (584,464 | ) | ||||||||||||||||
Receive a fixed rate equal to 4.755% and pay a floating rate based on the 28-day MXN-TIIE-BANXICO Counterparty: UBS Warburg LLC | 06/13/14 | MXN 620,000,000 | (227,119) | — | (227,119 | ) | ||||||||||||||||
Receive a floating rate based on the 28-day MXN-TIIE-BANXICO and pay a fixed rate equal to 6.305% Counterparty: UBS Warburg LLC | 06/03/22 | MXN 124,000,000 | (289,187) | — | (289,187 | ) | ||||||||||||||||
Receive a floating rate based on 6-month PLN-WIBOR-WIBO and pay a fixed rate equal to 5.095% Counterparty: Bank of America | 12/01/16 | PLN 48,500,000 | (535,505) | — | (535,505 | ) | ||||||||||||||||
Receive a floating rate based on the 6-month PLN-WIBOR-WIBO and pay a fixed rate equal to 4.800% Counterparty: Deutsche Bank AG | 06/04/17 | PLN 54,500,000 | (443,399) | — | (443,399 | ) | ||||||||||||||||
Receive a floating rate based on the 3-month USD-LIBOR-BBA and pay a fixed rate equal to 0.792% Counterparty: JPMorgan Chase & Co. | 09/26/17 | USD 72,600,000 | 22,756 | — | 22,756 | |||||||||||||||||
$(8,479,107) | $ | — | $ | (8,479,107 | ) |
Notional Amount | Counterparty | Description | Exercise Price | Expiration Date | Premiums Received | Fair Value | |||||||||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Options On Currencies | |||||||||||||||||||||||||||
56,700,000 | Barclays Bank PLC | EUR Put vs. USD Call Currency Option | 1.203 USD | 01/04/13 | $ | 675,864 | $ | (32,304 | ) | ||||||||||||||||||
15,200,000 | Deutsche Bank AG | MYR Put vs. USD Call Currency Option | 3.150 USD | 01/16/13 | 75,716 | (48,299 | ) | ||||||||||||||||||||
22,800,000 | Deutsche Bank AG | ZAR Put vs. USD Call Currency Option | 9.800 USD | 11/30/12 | 110,352 | (14,829 | ) | ||||||||||||||||||||
Total Written OTC Options | $ | 861,932 | $ | (95,432 | ) | ||||||||||||||||||||||
Description | Counterparty | Floating Rate Index/Underlying Reference Entity | Pay/ Receive Floating | Exercise Rate | Expiration Date | Notional Amount | Premiums Received | Fair Value | ||||||||||||||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Put OTC Swaption | Citigroup, Inc. | 3-month USD-LIBOR-BBA | Pay | 2.919% | 01/31/13 | USD 8,712,000 | $ | 148,435 | $ | (122,372 | ) | |||||||||||||||||||||||
Total Written Swaptions | $ | 148,435 | $ | (122,372 | ) | |||||||||||||||||||||||||||||
AS OF OCTOBER 31, 2012 (CONTINUED)
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* | $ | 750,946 | |||||||
Interest rate contracts | Investments in securities at value* | 2,697,642 | ||||||||
Foreign exchange contracts | Unrealized appreciation on forward foreign currency contracts | 15,056,820 | ||||||||
Credit contracts | Upfront payments paid on OTC swap agreements | 205,465 | ||||||||
Credit contracts | Unrealized appreciation on OTC swap agreements | 386 | ||||||||
Interest rate contracts | Unrealized appreciation on OTC swap agreements | 22,756 | ||||||||
Interest rate contracts | Net Assets — Unrealized appreciation** | 491,566 | ||||||||
Total Asset Derivatives | $ | 19,225,581 | ||||||||
Liability Derivatives | ||||||||||
Foreign exchange contracts | Unrealized depreciation on forward foreign currency contracts | $ | 11,560,519 | |||||||
Interest rate contracts | Unrealized depreciation on OTC swap agreements | 8,501,863 | ||||||||
Interest rate contracts | Net Assets — Unrealized depreciation** | 632,379 | ||||||||
Foreign exchange contracts | Written options, at fair value | 95,432 | ||||||||
Interest rate contracts | Written options, at fair value | 122,372 | ||||||||
Total Liability Derivatives | $ | 20,912,565 |
* | 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 | $ | (1,189,765 | ) | $ | — | $ | — | $ | (665,786 | ) | $ | 312,772 | $ | (1,542,779 | ) | ||||||||||||
Foreign exchange contracts | (3,850,767 | ) | (15,411,683 | ) | — | — | 2,372,839 | (16,889,611 | ) | ||||||||||||||||||
Interest rate contracts | (454,350 | ) | — | 8,405,748 | (19,843,603 | ) | 464,916 | (11,427,289 | ) | ||||||||||||||||||
Total | $ | (5,494,882 | ) | $ | (15,411,683 | ) | $ | 8,405,748 | $ | (20,509,389 | ) | $ | 3,150,527 | $ | (29,859,679 | ) | |||||||||||
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 | $ | — | $ | — | $ | — | $ | 386 | $ | — | $ | 386 | |||||||||||||||
Foreign exchange contracts | (115,251 | ) | 4,007,706 | — | — | 495,341 | 4,387,796 | ||||||||||||||||||||
Interest rate contracts | (102,851 | ) | — | (743,452 | ) | 1,813,502 | 26,063 | 993,262 | |||||||||||||||||||
Total | $ | (218,102 | ) | $ | 4,007,706 | $ | (743,452 | ) | $ | 1,813,888 | $ | 521,404 | $ | 5,381,444 |
* | 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, 2012
Shares | | | | Value | | Percentage of Net Assets | |||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
COMMON STOCK: 95.9% | |||||||||||||||||||
Australia: 2.0% | |||||||||||||||||||
126,700 | Newcrest Mining Ltd. | $ | 3,494,397 | 2.0 | |||||||||||||||
Brazil: 3.6% | |||||||||||||||||||
417,174 | Centrais Eletricas Brasileiras SA ADR | 3,337,392 | 1.9 | ||||||||||||||||
510,600 | Other Securities | 3,136,888 | 1.7 | ||||||||||||||||
6,474,280 | 3.6 | ||||||||||||||||||
Canada: 13.5% | |||||||||||||||||||
150,000 | Barrick Gold Corp. | 6,075,000 | 3.4 | ||||||||||||||||
295,250 | Cameco Corp. | 5,713,088 | 3.2 | ||||||||||||||||
339,000 | Kinross Gold Corp. | 3,386,610 | 1.9 | ||||||||||||||||
243,500 | @, L | Turquoise Hill Resources Ltd. | 1,921,215 | 1.1 | |||||||||||||||
365,000 | @ | Uranium Participation Corp. | 1,816,320 | 1.0 | |||||||||||||||
6,889,788 | Other Securities(a) | 5,037,716 | 2.9 | ||||||||||||||||
23,949,949 | 13.5 | ||||||||||||||||||
China: 0.0% | |||||||||||||||||||
12,100,000 | Other Securities | 71,298 | 0.0 | ||||||||||||||||
Egypt: 2.0% | |||||||||||||||||||
811,283 | Telecom Egypt | 1,843,554 | 1.0 | ||||||||||||||||
672,450 | Other Securities | 1,719,133 | 1.0 | ||||||||||||||||
3,562,687 | 2.0 | ||||||||||||||||||
France: 9.9% | |||||||||||||||||||
99,500 | @, L | Areva SA | 1,748,261 | 1.0 | |||||||||||||||
115,700 | Carrefour S.A. | 2,794,215 | 1.6 | ||||||||||||||||
333,000 | Electricite de France SA | 7,046,643 | 4.0 | ||||||||||||||||
74,400 | Thales S.A. | 2,618,951 | 1.5 | ||||||||||||||||
83,100 | Vivendi | 1,702,827 | 0.9 | ||||||||||||||||
62,200 | Other Securities | 1,604,340 | 0.9 | ||||||||||||||||
17,515,237 | 9.9 | ||||||||||||||||||
Greece: 0.5% | |||||||||||||||||||
130,000 | Other Securities | 830,912 | 0.5 | ||||||||||||||||
Hong Kong: 0.8% | |||||||||||||||||||
1,015,500 | Other Securities | 1,382,217 | 0.8 | ||||||||||||||||
Hungary: 0.5% | |||||||||||||||||||
10,900 | Other Securities | 877,197 | 0.5 | ||||||||||||||||
Indonesia: 0.4% | |||||||||||||||||||
4,864,000 | Other Securities | 797,126 | 0.4 | ||||||||||||||||
Israel: 0.9% | |||||||||||||||||||
38,600 | Other Securities | 1,560,212 | 0.9 | ||||||||||||||||
Italy: 3.4% | |||||||||||||||||||
476,500 | ERG S.p.A. | 3,459,339 | 1.9 | ||||||||||||||||
2,157,000 | Telecom Italia S.p.A. RNC | 1,727,244 | 1.0 | ||||||||||||||||
187,800 | Other Securities | 931,375 | 0.5 | ||||||||||||||||
6,117,958 | 3.4 | ||||||||||||||||||
Japan: 11.6% | |||||||||||||||||||
724,550 | Sumitomo Mitsui Trust Holdings, Inc. | 2,198,866 | 1.3 | ||||||||||||||||
37,100 | East Japan Railway Co. | 2,546,423 | 1.4 | ||||||||||||||||
COMMON STOCK: (continued) | |||||||||||||||||||
Japan: (continued) | |||||||||||||||||||
486,000 | Japan Steel Works Ltd. | $ | 2,880,919 | 1.6 | |||||||||||||||
133,000 | Mitsui & Co., Ltd. | 1,874,664 | 1.1 | ||||||||||||||||
110,700 | Mitsui Sumitomo Insurance Group Holdings, Inc. | 1,877,339 | 1.1 | ||||||||||||||||
74,400 | Nippon Telegraph & Telephone Corp. | 3,402,173 | 1.9 | ||||||||||||||||
626,000 | Other Securities | 5,740,312 | 3.2 | ||||||||||||||||
20,520,696 | 11.6 | ||||||||||||||||||
Lebanon: 0.5% | |||||||||||||||||||
69,360 | # | Solidere GDR | 867,000 | 0.5 | |||||||||||||||
Norway: 0.7% | |||||||||||||||||||
1,675,000 | Other Securities | 1,314,238 | 0.7 | ||||||||||||||||
Russia: 4.6% | |||||||||||||||||||
386,400 | Gazprom OAO ADR | 3,529,764 | 2.0 | ||||||||||||||||
1,562,000 | Federal Hydrogenerating Co. JSC ADR | 3,721,216 | 2.1 | ||||||||||||||||
27,429,700 | Other Securities | 888,884 | 0.5 | ||||||||||||||||
8,139,864 | 4.6 | ||||||||||||||||||
South Africa: 3.7% | |||||||||||||||||||
81,600 | AngloGold Ashanti Ltd ADR | 2,772,768 | 1.6 | ||||||||||||||||
186,500 | Impala Platinum Holdings Ltd. | 3,362,484 | 1.9 | ||||||||||||||||
3,250,000 | Other Securities | 457,290 | 0.2 | ||||||||||||||||
6,592,542 | 3.7 | ||||||||||||||||||
South Korea: 3.4% | |||||||||||||||||||
137,200 | Korea Electric Power Corp. ADR | 1,768,508 | 1.0 | ||||||||||||||||
129,500 | KT Corp. ADR | 2,195,025 | 1.2 | ||||||||||||||||
134,000 | SK Telecom Co., Ltd. ADR | 2,094,420 | 1.2 | ||||||||||||||||
6,057,953 | 3.4 | ||||||||||||||||||
Switzerland: 1.4% | |||||||||||||||||||
74,600 | @ | Credit Suisse Group ADR | 1,741,164 | 1.0 | |||||||||||||||
11,250 | Other Securities | 678,381 | 0.4 | ||||||||||||||||
2,419,545 | 1.4 | ||||||||||||||||||
United Kingdom: 4.0% | |||||||||||||||||||
1,156,000 | @ | Polyus Gold International Ltd. | 3,847,612 | 2.2 | |||||||||||||||
150,100 | Stolt-Nielsen Ltd. | 2,751,206 | 1.5 | ||||||||||||||||
90,500 | Other Securities | 468,290 | 0.3 | ||||||||||||||||
7,067,108 | 4.0 | ||||||||||||||||||
United States: 28.5% | |||||||||||||||||||
102,300 | @ | American International Group, Inc. | 3,573,339 | 2.0 | |||||||||||||||
33,500 | Alliant Techsystems, Inc. | 1,919,215 | 1.1 | ||||||||||||||||
393,000 | L | Arch Coal, Inc. | 3,128,280 | 1.8 | |||||||||||||||
96,000 | Archer-Daniels-Midland Co. | 2,576,640 | 1.4 | ||||||||||||||||
216,600 | Best Buy Co., Inc. | 3,294,486 | 1.9 | ||||||||||||||||
139,500 | Chesapeake Energy Corp. | 2,826,270 | 1.6 |
AS OF OCTOBER 31, 2012 (CONTINUED)
Shares | | | | Value | | Percentage of Net Assets | |||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
COMMON STOCK: (continued) | |||||||||||||||||||
United States: (continued) | |||||||||||||||||||
98,900 | Cisco Systems, Inc. | $ | 1,695,146 | 1.0 | |||||||||||||||
57,100 | Computer Sciences Corp. | 1,738,695 | 1.0 | ||||||||||||||||
48,000 | Consol Energy, Inc. | 1,687,680 | 0.9 | ||||||||||||||||
75,500 | Exelon Corp. | 2,701,390 | 1.5 | ||||||||||||||||
36,300 | Hess Corp. | 1,897,038 | 1.1 | ||||||||||||||||
105,000 | Kroger Co. | 2,648,100 | 1.5 | ||||||||||||||||
51,000 | Newmont Mining Corp. | 2,782,050 | 1.6 | ||||||||||||||||
224,000 | @, L | NII Holdings, Inc. | 1,785,280 | 1.0 | |||||||||||||||
203,100 | Old Republic International Corp. | 2,006,628 | 1.1 | ||||||||||||||||
65,575 | Peabody Energy Corp. | 1,829,542 | 1.0 | ||||||||||||||||
418,000 | Southwest Airlines Co. | 3,686,760 | 2.1 | ||||||||||||||||
112,200 | Tyson Foods, Inc. | 1,886,082 | 1.1 | ||||||||||||||||
65,000 | Western Digital Corp. | 2,224,950 | 1.2 | ||||||||||||||||
201,349 | Other Securities | 4,651,501 | 2.6 | ||||||||||||||||
50,539,072 | 28.5 | ||||||||||||||||||
Total Common Stock | |||||||||||||||||||
(Cost $193,786,894) | 170,151,488 | 95.9 | |||||||||||||||||
PREFERRED STOCK: 0.6% | |||||||||||||||||||
South Korea: 0.6% | |||||||||||||||||||
59,270 | Other Securities | 1,086,240 | 0.6 | ||||||||||||||||
Total Preferred Stock | |||||||||||||||||||
(Cost $1,900,807) | 1,086,240 | 0.6 | |||||||||||||||||
Total Long-Term Investments | |||||||||||||||||||
(Cost $195,687,701) | 171,237,728 | 96.5 | |||||||||||||||||
Principal Amount† | | | | Value | | Percentage of Net Assets | |||||||||||||
SHORT-TERM INVESTMENTS: 8.6% | |||||||||||||||||||
Securities Lending Collateralcc(1): 4.7% | |||||||||||||||||||
1,973,791 | Barclays Bank PLC, Repurchase Agreement dated 10/31/12, 0.25%, due 11/01/12 (Repurchase Amount $1,973,805, collateralized by various U.S. Government Agency Obligations, 2.185%–7.000%, Market Value plus accrued interest $2,013,267, due 10/01/20–12/01/47) | 1,973,791 | 1.1 | ||||||||||||||||
1,973,791 | Citigroup, Inc., Repurchase Agreement dated 10/31/12, 0.32%, due 11/01/12 (Repurchase Amount $1,973,808, collateralized by various U.S. Government and U.S. Government Agency Obligations, 0.000%– 11.000%, Market Value plus accrued interest $2,013,267, due 11/15/12–09/20/62) | 1,973,791 | 1.1 | ||||||||||||||||
SHORT-TERM INVESTMENTS: (continued) | |||||||||||||||||||
Securities Lending Collateralcc(1): (continued) | |||||||||||||||||||
1,973,791 | Deutsche Bank AG, Repurchase Agreement dated 10/31/12, 0.35%, due 11/01/12 (Repurchase Amount $1,973,810, collateralized by various U.S. Government Securities, 0.000%– 2.125%, Market Value plus accrued interest $2,013,267, due 07/15/15–02/15/41) | $ | 1,973,791 | 1.1 | |||||||||||||||
1,973,791 | Merrill Lynch & Co., Inc., Repurchase Agreement dated 10/31/12, 0.33%, due 11/01/12 (Repurchase Amount $1,973,809, collateralized by various U.S. Government Agency Obligations, 3.000%–4.500%, Market Value plus accrued interest $2,013,267, due 01/01/27–10/20/42) | 1,973,791 | 1.1 | ||||||||||||||||
415,532 | Royal Bank of Canada, Repurchase Agreement dated 10/31/12, 0.22%, due 11/01/12 (Repurchase Amount $415,535, collateralized by various U.S. Government Securities, 0.000%– 5.250%, Market Value plus accrued interest $423,843, due 02/15/13–11/15/28) | 415,532 | 0.3 | ||||||||||||||||
8,310,696 | 4.7 | ||||||||||||||||||
Shares | | | | Value | | Percentage of Net Assets | |||||||||||||
Mutual Funds: 3.9% | |||||||||||||||||||
7,015,892 | BlackRock Liquidity Funds, TempFund, Institutional Class (Cost $7,015,892) | 7,015,892 | 3.9 | ||||||||||||||||
Total Short-Term Investments | |||||||||||||||||||
(Cost $15,326,588) | 15,326,588 | 8.6 | |||||||||||||||||
Total Investments in Securities (Cost $211,014,289) | $ | 186,564,316 | 105.1 | ||||||||||||||||
Liabilities in Excess of Other Assets | (8,982,660 | ) | (5.1 | ) | |||||||||||||||
Net Assets | $ | 177,581,656 | 100.0 |
AS OF OCTOBER 31, 2012 (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 Depositary Receipt |
GDR | Global Depositary 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, 2012. |
(1) | Collateral received from brokers for securities lending was invested into these short-term investments. |
(a) | This grouping contains securities on loan. |
Cost for federal income tax purposes is $213,730,566. |
Net unrealized depreciation consists of: | ||||||
Gross Unrealized Appreciation | $ | 14,020,673 | ||||
Gross Unrealized Depreciation | (41,186,923 | ) | ||||
Net Unrealized Depreciation | $ | (27,166,250 | ) |
Sector Diversification | Percentage of Net Assets | |||||
---|---|---|---|---|---|---|
Materials | 18.1 | % | ||||
Energy | 16.7 | |||||
Industrials | 13.3 | |||||
Utilities | 11.0 | |||||
Financials | 9.9 | |||||
Telecommunication Services | 8.2 | |||||
Consumer Staples | 7.0 | |||||
Information Technology | 4.6 | |||||
Consumer Discretionary | 4.3 | |||||
Health Care | 3.4 | |||||
Short-Term Investments | 8.6 | |||||
Liabilities in Excess of Other Assets | (5.1 | ) | ||||
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 10/31/2012 | |||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Asset Table | ||||||||||||||||||
Investments, at fair value | ||||||||||||||||||
Common Stock | ||||||||||||||||||
Australia | $ | — | $ | 3,494,397 | $ | — | $ | 3,494,397 | ||||||||||
Brazil | 6,474,280 | — | — | 6,474,280 | ||||||||||||||
Canada | 23,949,949 | — | — | 23,949,949 | ||||||||||||||
China | — | — | 71,298 | 71,298 | ||||||||||||||
Egypt | 2,679,462 | 883,225 | — | 3,562,687 | ||||||||||||||
France | 1,604,340 | 15,910,897 | — | 17,515,237 | ||||||||||||||
Greece | — | 830,912 | — | 830,912 | ||||||||||||||
Hong Kong | — | 1,382,217 | — | 1,382,217 | ||||||||||||||
Hungary | — | 877,197 | — | 877,197 | ||||||||||||||
Indonesia | — | 797,126 | — | 797,126 | ||||||||||||||
Israel | 1,560,212 | — | — | 1,560,212 | ||||||||||||||
Italy | — | 6,117,958 | — | 6,117,958 | ||||||||||||||
Japan | — | 20,520,696 | — | 20,520,696 | ||||||||||||||
Lebanon | 867,000 | — | — | 867,000 | ||||||||||||||
Norway | — | 1,314,238 | — | 1,314,238 | ||||||||||||||
Russia | 4,418,648 | 3,721,216 | — | 8,139,864 | ||||||||||||||
South Africa | 3,230,058 | 3,362,484 | — | 6,592,542 | ||||||||||||||
South Korea | 6,057,953 | — | — | 6,057,953 | ||||||||||||||
Switzerland | 1,741,164 | 678,381 | — | 2,419,545 | ||||||||||||||
United Kingdom | 6,598,818 | 468,290 | — | 7,067,108 | ||||||||||||||
United States | 50,539,072 | — | — | 50,539,072 | ||||||||||||||
Total Common Stock | 109,720,956 | 60,359,234 | 71,298 | 170,151,488 | ||||||||||||||
Preferred Stock | — | 1,086,240 | — | 1,086,240 | ||||||||||||||
Short-Term Investments | 7,015,892 | 8,310,696 | — | 15,326,588 | ||||||||||||||
Total Investments, at fair value | $ | 116,736,848 | $ | 69,756,170 | $ | 71,298 | $ | 186,564,316 |
(1) | For the year ended October 31, 2012, as a result of the fair value pricing procedures for international equities utilized by the Fund, certain securities have transferred in and out of Level 1 and Level 2 measurements during the year. The Fund’s policy is to recognize transfers between levels at the end of the reporting period. At October 31, 2012, securities valued at $2,440,184 and $20,658,343 were transferred from Level 1 to Level 2 and Level 2 and Level 1, respectively, within the fair value hierarchy. |
AS OF OCTOBER 31, 2012 (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 Fund 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 portion of the Fund’s investments are categorized as Level 2 investments. |
EQUITY FUND
AS OF OCTOBER 31, 2012
Shares | | | | Value | | Percentage of Net Assets | |||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
COMMON STOCK: 96.9% | |||||||||||||||||||
Australia: 8.8% | |||||||||||||||||||
13,539 | Australia & New Zealand Banking Group Ltd. | $ | 357,178 | 0.6 | |||||||||||||||
17,294 | BHP Billiton Ltd. | 612,305 | 1.1 | ||||||||||||||||
9,299 | Commonwealth Bank of Australia | 556,878 | 1.0 | ||||||||||||||||
13,673 | National Australia Bank Ltd. | 365,409 | 0.6 | ||||||||||||||||
16,993 | Westpac Banking Corp. | 449,262 | 0.8 | ||||||||||||||||
398,321 | Other Securities | 2,634,762 | 4.7 | ||||||||||||||||
4,975,794 | 8.8 | ||||||||||||||||||
Austria: 0.2% | |||||||||||||||||||
10,655 | Other Securities | 93,260 | 0.2 | ||||||||||||||||
Belgium: 1.5% | |||||||||||||||||||
4,473 | Anheuser-Busch InBev NV | 374,080 | 0.7 | ||||||||||||||||
24,464 | Other Securities | 467,059 | 0.8 | ||||||||||||||||
841,139 | 1.5 | ||||||||||||||||||
China: 0.1% | |||||||||||||||||||
63,000 | Other Securities | 51,768 | 0.1 | ||||||||||||||||
Denmark: 1.1% | |||||||||||||||||||
2,642 | Novo-Nordisk A/S | 423,554 | 0.7 | ||||||||||||||||
1,003 | Other Securities | 220,004 | 0.4 | ||||||||||||||||
643,558 | 1.1 | ||||||||||||||||||
Finland: 1.2% | |||||||||||||||||||
27,353 | Other Securities | 680,388 | 1.2 | ||||||||||||||||
France: 8.9% | |||||||||||||||||||
22,133 | AXA S.A. | 352,770 | 0.6 | ||||||||||||||||
8,668 | BNP Paribas | 437,255 | 0.8 | ||||||||||||||||
7,808 | Sanofi-Aventis | 685,753 | 1.2 | ||||||||||||||||
11,249 | Total S.A. | 566,611 | 1.0 | ||||||||||||||||
15,724 | Vivendi | 322,205 | 0.6 | ||||||||||||||||
68,881 | Other Securities | 2,639,999 | 4.7 | ||||||||||||||||
5,004,593 | 8.9 | ||||||||||||||||||
Germany: 7.4% | |||||||||||||||||||
7,770 | BASF AG | 644,521 | 1.1 | ||||||||||||||||
3,183 | Bayer AG | 277,534 | 0.5 | ||||||||||||||||
16,476 | Deutsche Post AG | 326,651 | 0.6 | ||||||||||||||||
3,387 | Lanxess | 280,201 | 0.5 | ||||||||||||||||
3,789 | SAP AG | 276,304 | 0.5 | ||||||||||||||||
47,750 | Other Securities | 2,355,700 | 4.2 | ||||||||||||||||
4,160,911 | 7.4 | ||||||||||||||||||
Hong Kong: 2.9% | |||||||||||||||||||
379,630 | Other Securities | 1,630,562 | 2.9 | ||||||||||||||||
Israel: 0.5% | |||||||||||||||||||
21,562 | Other Securities | 305,284 | 0.5 | ||||||||||||||||
Italy: 0.9% | |||||||||||||||||||
123,008 | Other Securities | 522,473 | 0.9 | ||||||||||||||||
Japan: 19.2% | |||||||||||||||||||
13,500 | Canon, Inc. | 438,745 | 0.8 | ||||||||||||||||
3,500 | Central Japan Railway Co. | 301,189 | 0.5 | ||||||||||||||||
COMMON STOCK: (continued) | |||||||||||||||||||
Japan: (continued) | |||||||||||||||||||
195,684 | Mizuho Financial Group, Inc. | $ | 306,183 | 0.5 | |||||||||||||||
10,090 | Toyota Motor Corp. | 389,042 | 0.7 | ||||||||||||||||
1,149,748 | Other Securities | 9,417,127 | 16.7 | ||||||||||||||||
10,852,286 | 19.2 | ||||||||||||||||||
Luxembourg: 0.5% | |||||||||||||||||||
17,172 | Other Securities | 294,912 | 0.5 | ||||||||||||||||
Macau: 0.1% | |||||||||||||||||||
20,000 | Other Securities | 74,762 | 0.1 | ||||||||||||||||
Netherlands: 4.8% | |||||||||||||||||||
12,692 | Royal Dutch Shell PLC — Class A | 435,501 | 0.8 | ||||||||||||||||
16,095 | Royal Dutch Shell PLC — Class B | 569,324 | 1.0 | ||||||||||||||||
15,403 | Koninklijke Philips Electronics NV | 385,782 | 0.7 | ||||||||||||||||
87,792 | Other Securities | 1,306,689 | 2.3 | ||||||||||||||||
2,697,296 | 4.8 | ||||||||||||||||||
New Zealand: 0.2% | |||||||||||||||||||
34,181 | Other Securities | 88,986 | 0.2 | ||||||||||||||||
Norway: 1.2% | |||||||||||||||||||
5,630 | Yara International ASA | 265,336 | 0.5 | ||||||||||||||||
14,552 | Other Securities | 396,573 | 0.7 | ||||||||||||||||
661,909 | 1.2 | ||||||||||||||||||
Portugal: 0.3% | |||||||||||||||||||
55,460 | Other Securities | 170,965 | 0.3 | ||||||||||||||||
Singapore: 1.8% | |||||||||||||||||||
571,000 | Other Securities | 997,934 | 1.8 | ||||||||||||||||
Spain: 3.3% | |||||||||||||||||||
19,659 | Ferrovial SA | 278,179 | 0.5 | ||||||||||||||||
5,799 | Red Electrica de Espana | 272,086 | 0.5 | ||||||||||||||||
202,101 | Other Securities | 1,303,932 | 2.3 | ||||||||||||||||
1,854,197 | 3.3 | ||||||||||||||||||
Sweden: 3.2% | |||||||||||||||||||
9,295 | Assa Abloy AB | 309,670 | 0.6 | ||||||||||||||||
71,624 | Other Securities | 1,482,385 | 2.6 | ||||||||||||||||
1,792,055 | 3.2 | ||||||||||||||||||
Switzerland: 8.1% | |||||||||||||||||||
14,611 | Nestle S.A. | 927,627 | 1.6 | ||||||||||||||||
11,352 | Novartis AG | 684,532 | 1.2 | ||||||||||||||||
3,946 | Roche Holding AG —Genusschein | 760,099 | 1.4 | ||||||||||||||||
803 | Syngenta AG | 313,081 | 0.6 | ||||||||||||||||
32,600 | UBS AG — Reg | 489,117 | 0.9 | ||||||||||||||||
1,431 | Zurich Financial Services AG | 352,770 | 0.6 | ||||||||||||||||
19,017 | Other Securities | 1,041,224 | 1.8 | ||||||||||||||||
4,568,450 | 8.1 |
EQUITY FUND
AS OF OCTOBER 31, 2012 (CONTINUED)
Shares | | | | Value | | Percentage of Net Assets | |||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
COMMON STOCK: (continued) | |||||||||||||||||||
United Kingdom: 20.7% | |||||||||||||||||||
114,039 | Barclays PLC | $ | 421,689 | 0.8 | |||||||||||||||
9,168 | BHP Billiton PLC | 293,848 | 0.5 | ||||||||||||||||
85,769 | BP PLC | 612,533 | 1.1 | ||||||||||||||||
12,744 | British American Tobacco PLC | 632,102 | 1.1 | ||||||||||||||||
81,310 | BT Group PLC | 279,431 | 0.5 | ||||||||||||||||
9,374 | Diageo PLC | 267,991 | 0.5 | ||||||||||||||||
18,470 | GlaxoSmithKline PLC | 413,869 | 0.7 | ||||||||||||||||
85,829 | HSBC Holdings PLC | 846,220 | 1.5 | ||||||||||||||||
12,098 | Imperial Tobacco Group PLC | 457,543 | 0.8 | ||||||||||||||||
27,917 | National Grid PLC | 318,384 | 0.6 | ||||||||||||||||
5,559 | Reckitt Benckiser PLC | 336,790 | 0.6 | ||||||||||||||||
5,397 | Rio Tinto PLC | 269,617 | 0.5 | ||||||||||||||||
17,163 | Standard Chartered PLC | 406,364 | 0.7 | ||||||||||||||||
73,255 | Tesco PLC | 379,056 | 0.7 | ||||||||||||||||
200,697 | Vodafone Group PLC | 545,024 | 1.0 | ||||||||||||||||
22,838 | WPP PLC | 295,190 | 0.5 | ||||||||||||||||
616,682 | Other Securities | 4,871,657 | 8.6 | ||||||||||||||||
11,647,308 | 20.7 | ||||||||||||||||||
Total Common Stock | |||||||||||||||||||
(Cost $45,286,903) | 54,610,790 | 96.9 | |||||||||||||||||
PREFERRED STOCK: 0.4% | |||||||||||||||||||
Germany: 0.4% | |||||||||||||||||||
6,294 | Other Securities | 229,240 | 0.4 | ||||||||||||||||
Total Preferred Stock | |||||||||||||||||||
(Cost $185,432) | 229,240 | 0.4 | |||||||||||||||||
RIGHTS: 0.0% | |||||||||||||||||||
Spain: 0.0% | |||||||||||||||||||
33,999 | Other Securities | 6,698 | 0.0 | ||||||||||||||||
Total Rights | |||||||||||||||||||
(Cost $—) | 6,698 | 0.0 | |||||||||||||||||
Total Long-Term Investments | |||||||||||||||||||
(Cost $45,472,335) | 54,846,728 | 97.3 | |||||||||||||||||
SHORT-TERM INVESTMENTS: 2.4% | |||||||||||||||||||
Mutual Funds: 2.4% | |||||||||||||||||||
1,361,000 | BlackRock Liquidity Funds, TempFund, Institutional Class (Cost $1,361,000) | 1,361,000 | 2.4 | ||||||||||||||||
Total Short-Term Investments | |||||||||||||||||||
(Cost $1,361,000) | 1,361,000 | 2.4 | |||||||||||||||||
Total Investments in Securities (Cost $46,833,335) | $ | 56,207,728 | 99.7 | ||||||||||||||||
Assets in Excess of Other Liabilities | 174,845 | �� | 0.3 | ||||||||||||||||
Net Assets | $ | 56,382,573 | 100.0 |
Cost for federal income tax purposes is $48,923,757. |
Net unrealized appreciation consists of: | ||||||
Gross Unrealized Appreciation | $ | 9,891,723 | ||||
Gross Unrealized Depreciation | (2,607,752 | ) | ||||
Net Unrealized Appreciation | $ | 7,283,971 |
Sector Diversification | Percentage of Net Assets | |||||
---|---|---|---|---|---|---|
Financials | 23.4 | % | ||||
Industrials | 11.8 | |||||
Consumer Staples | 11.7 | |||||
Health Care | 10.0 | |||||
Consumer Discretionary | 9.7 | |||||
Materials | 9.6 | |||||
Energy | 7.9 | |||||
Telecommunication Services | 5.3 | |||||
Information Technology | 4.1 | |||||
Utilities | 3.8 | |||||
Short-Term Investments | 2.4 | |||||
Assets in Excess of Other Liabilities | 0.3 | |||||
Net Assets | 100.0 | % |
EQUITY FUND
AS OF OCTOBER 31, 2012 (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 10/31/2012 | |||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Asset Table | ||||||||||||||||||
Investments, at fair value | ||||||||||||||||||
Common Stock | ||||||||||||||||||
Australia | $ | — | $ | 4,975,794 | $ | — | $ | 4,975,794 | ||||||||||
Austria | — | 93,260 | — | 93,260 | ||||||||||||||
Belgium | 222,225 | 618,914 | — | 841,139 | ||||||||||||||
China | — | 51,768 | — | 51,768 | ||||||||||||||
Denmark | — | 643,558 | — | 643,558 | ||||||||||||||
Finland | — | 680,388 | — | 680,388 | ||||||||||||||
France | — | 5,004,593 | — | 5,004,593 | ||||||||||||||
Germany | — | 4,160,911 | — | 4,160,911 | ||||||||||||||
Hong Kong | — | 1,630,562 | — | 1,630,562 | ||||||||||||||
Israel | — | 305,284 | — | 305,284 | ||||||||||||||
Italy | — | 522,473 | — | 522,473 | ||||||||||||||
Japan | 53,006 | 10,799,280 | — | 10,852,286 | ||||||||||||||
Luxembourg | — | 294,912 | — | 294,912 | ||||||||||||||
Macau | — | 74,762 | — | 74,762 | ||||||||||||||
Netherlands | — | 2,697,296 | — | 2,697,296 | ||||||||||||||
New Zealand | — | 88,986 | — | 88,986 | ||||||||||||||
Norway | — | 661,909 | — | 661,909 | ||||||||||||||
Portugal | 43,985 | 126,980 | — | 170,965 | ||||||||||||||
Singapore | 21,840 | 976,094 | — | 997,934 | ||||||||||||||
Spain | — | 1,854,197 | — | 1,854,197 | ||||||||||||||
Sweden | — | 1,792,055 | — | 1,792,055 | ||||||||||||||
Switzerland | — | 4,568,450 | — | 4,568,450 | ||||||||||||||
United Kingdom | — | 11,647,308 | — | 11,647,308 | ||||||||||||||
Total Common Stock | 341,056 | 54,269,734 | — | 54,610,790 | ||||||||||||||
Preferred Stock | — | 229,240 | — | 229,240 | ||||||||||||||
Rights | 6,698 | — | — | 6,698 | ||||||||||||||
Short-Term Investments | 1,361,000 | — | — | 1,361,000 | ||||||||||||||
Total Investments, at fair value | $ | 1,708,754 | $ | 54,498,974 | $ | — | $ | 56,207,728 | ||||||||||
Liabilities Table | ||||||||||||||||||
Other Financial Instruments+ | ||||||||||||||||||
Futures | $ | (10,570 | ) | $ | — | $ | — | $ | (10,570 | ) | ||||||||
Total Liabilities | $ | (10,570 | ) | $ | — | $ | — | $ | (10,570 | ) |
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 Fund 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 portion of the Fund’s investments are categorized as Level 2 investments. |
EQUITY FUND
AS OF OCTOBER 31, 2012 (CONTINUED)
Contract Description | Number of Contracts | Expiration Date | Notional Value | Unrealized Appreciation/ (Depreciation) | ||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Long Contracts | ||||||||||||||||||
Mini MSCI EAFE Index | 17 | 12/21/12 | $ | 1,290,640 | $ | (10,570 | ) | |||||||||||
$ | 1,290,640 | $ | (10,570 | ) |
Derivatives not accounted for as hedging instruments | Location on Statement of Assets and Liabilities | Fair Value | ||||||||
---|---|---|---|---|---|---|---|---|---|---|
Liability Derivatives | ||||||||||
Equity contracts | Net Assets — Unrealized depreciation* | $ | 10,570 | |||||||
Total Liability Derivatives | $ | 10,570 |
* | 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 | $ | — | $ | 361,998 | $ | 361,998 | |||||||||
Foreign exchange contracts | 69,968 | — | 69,968 | ||||||||||||
Total | $ | 69,968 | $ | 361,998 | $ | 431,966 |
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 | $ | — | $ | (218,858 | ) | $ | (218,858 | ) | |||||||
Foreign exchange contracts | 53,771 | — | 53,771 | ||||||||||||
Total | $ | 53,771 | $ | (218,858 | ) | $ | (165,087 | ) |
* | 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, 2012
Shares | | | | Value | | Percentage of Net Assets | |||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
COMMON STOCK: 97.8% | |||||||||||||||||||
Australia: 6.2% | |||||||||||||||||||
129,345 | Amcor Ltd. | $ | 1,059,639 | 0.4 | |||||||||||||||
79,200 | Ansell Ltd. | 1,283,269 | 0.5 | ||||||||||||||||
68,385 | Caltex Australia Ltd. | 1,208,352 | 0.5 | ||||||||||||||||
126,796 | Computershare Ltd. | 1,141,890 | 0.5 | ||||||||||||||||
6,213,200 | Other Securities | 10,356,042 | 4.3 | ||||||||||||||||
15,049,192 | 6.2 | ||||||||||||||||||
Austria: 1.5% | |||||||||||||||||||
17,000 | Kapsch TrafficCom AG | 992,525 | 0.4 | ||||||||||||||||
12,000 | Mayr Melnhof Karton AG | 1,186,904 | 0.5 | ||||||||||||||||
23,000 | Rosenbauer International AG | 1,204,333 | 0.5 | ||||||||||||||||
14,748 | Other Securities | 232,516 | 0.1 | ||||||||||||||||
3,616,278 | 1.5 | ||||||||||||||||||
Belgium: 1.2% | |||||||||||||||||||
292,124 | Other Securities | 2,937,626 | 1.2 | ||||||||||||||||
Bermuda: 0.0% | |||||||||||||||||||
6,361 | Other Securities | 36,385 | 0.0 | ||||||||||||||||
Brazil: 0.4% | |||||||||||||||||||
122,493 | Other Securities | 1,105,859 | 0.4 | ||||||||||||||||
Canada: 3.9% | |||||||||||||||||||
43,500 | Dorel Industries, Inc. | 1,555,329 | 0.7 | ||||||||||||||||
1,023,161 | Other Securities | 7,848,931 | 3.2 | ||||||||||||||||
9,404,260 | 3.9 | ||||||||||||||||||
China: 1.4% | |||||||||||||||||||
9,483,856 | Other Securities(a) | 3,362,139 | 1.4 | ||||||||||||||||
Denmark: 1.1% | |||||||||||||||||||
72,824 | GN Store Nord | 1,141,332 | 0.5 | ||||||||||||||||
58,149 | Other Securities | 1,426,122 | 0.6 | ||||||||||||||||
2,567,454 | 1.1 | ||||||||||||||||||
Finland: 0.2% | |||||||||||||||||||
57,989 | Other Securities | 380,298 | 0.2 | ||||||||||||||||
France: 4.5% | |||||||||||||||||||
150,000 | Groupe Eurotunnel S.A. | 1,142,313 | 0.5 | ||||||||||||||||
703,828 | Other Securities | 9,835,170 | 4.0 | ||||||||||||||||
10,977,483 | 4.5 | ||||||||||||||||||
Germany: 9.9% | |||||||||||||||||||
31,742 | Aurubis AG | 2,009,482 | 0.8 | ||||||||||||||||
88,820 | Deutsche Lufthansa AG | 1,358,857 | 0.6 | ||||||||||||||||
22,014 | Draegerwerk AG & Co. KGaA | 2,156,777 | 0.9 | ||||||||||||||||
70,000 | Freenet AG | 1,157,261 | 0.5 | ||||||||||||||||
30,015 | Jungheinrich AG | 993,645 | 0.4 | ||||||||||||||||
46,683 | Rheinmetall AG | 2,231,182 | 0.9 | ||||||||||||||||
63,000 | Tom Tailor Holding AG | 1,343,392 | 0.5 | ||||||||||||||||
24,400 | XING AG | 1,388,219 | 0.6 | ||||||||||||||||
696,592 | Other Securities | 11,274,774 | 4.7 | ||||||||||||||||
23,913,589 | 9.9 | ||||||||||||||||||
Greece: 0.0% | |||||||||||||||||||
4,134 | Other Securities | 28,111 | 0.0 | ||||||||||||||||
COMMON STOCK: (continued) | |||||||||||||||||||
Hong Kong: 4.1% | |||||||||||||||||||
819,500 | Techtronic Industries Co. | $ | 1,553,374 | 0.6 | |||||||||||||||
43,736,892 | Other Securities | 8,384,092 | 3.5 | ||||||||||||||||
9,937,466 | 4.1 | ||||||||||||||||||
India: 1.2% | |||||||||||||||||||
1,156,634 | Other Securities | 2,904,522 | 1.2 | ||||||||||||||||
Indonesia: 0.5% | |||||||||||||||||||
23,195,000 | Other Securities | 1,118,624 | 0.5 | ||||||||||||||||
Ireland: 1.7% | |||||||||||||||||||
45,000 | DCC Plc | 1,300,020 | 0.6 | ||||||||||||||||
632,295 | Other Securities | 2,717,839 | 1.1 | ||||||||||||||||
4,017,859 | 1.7 | ||||||||||||||||||
Israel: 0.0% | |||||||||||||||||||
37,961 | Other Securities | 127,756 | 0.0 | ||||||||||||||||
Italy: 3.3% | |||||||||||||||||||
100,000 | Azimut Holding S.p.A. | 1,270,403 | 0.5 | ||||||||||||||||
42,301 | Exor SpA | 1,091,665 | 0.5 | ||||||||||||||||
60,000 | Prysmian S.p.A. | 1,156,850 | 0.5 | ||||||||||||||||
866,453 | Other Securities | 4,409,003 | 1.8 | ||||||||||||||||
7,927,921 | 3.3 | ||||||||||||||||||
Japan: 18.3% | |||||||||||||||||||
1,524,000 | @ | Kanematsu Corp. | 1,797,724 | 0.7 | |||||||||||||||
129,000 | Nippo Corp. | 1,462,111 | 0.6 | ||||||||||||||||
1,007,000 | Yuasa Trading Co., Ltd. | 1,666,810 | 0.7 | ||||||||||||||||
5,905,814 | Other Securities(a) | 39,376,118 | 16.3 | ||||||||||||||||
44,302,763 | 18.3 | ||||||||||||||||||
Malaysia: 0.9% | |||||||||||||||||||
619,672 | Kulim Malaysia BHD | 1,017,444 | 0.4 | ||||||||||||||||
1,707,800 | Other Securities | 1,297,608 | 0.5 | ||||||||||||||||
2,315,052 | 0.9 | ||||||||||||||||||
Mexico: 0.3% | |||||||||||||||||||
140,700 | Other Securities | 745,446 | 0.3 | ||||||||||||||||
Netherlands: 1.3% | |||||||||||||||||||
80,000 | Delta Lloyd NV | 1,330,435 | 0.6 | ||||||||||||||||
45,000 | Ten Cate NV | 997,561 | 0.4 | ||||||||||||||||
246,707 | Other Securities(a) | 780,207 | 0.3 | ||||||||||||||||
3,108,203 | 1.3 | ||||||||||||||||||
New Zealand: 1.0% | |||||||||||||||||||
356,984 | Chorus Ltd. | 991,672 | 0.4 | ||||||||||||||||
243,846 | Fletcher Building Ltd. | 1,410,394 | 0.6 | ||||||||||||||||
2,402,066 | 1.0 | ||||||||||||||||||
Norway: 1.3% | |||||||||||||||||||
1,054,191 | Other Securities(a) | 3,281,365 | 1.3 | ||||||||||||||||
Pakistan: 0.1% | |||||||||||||||||||
1,375,131 | Other Securities | 220,798 | 0.1 | ||||||||||||||||
Philippines: 0.2% | |||||||||||||||||||
117,840 | Other Securities | 383,526 | 0.2 |
AS OF OCTOBER 31, 2012 (CONTINUED)
Shares | | | | Value | | Percentage of Net Assets | |||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
COMMON STOCK: (continued) | |||||||||||||||||||
Poland: 0.0% | |||||||||||||||||||
47,792 | Other Securities | $ | 66,098 | 0.0 | |||||||||||||||
Portugal: 0.0% | |||||||||||||||||||
26,243 | Other Securities | 44,389 | 0.0 | ||||||||||||||||
Russia: 0.1% | |||||||||||||||||||
113,483 | Other Securities | 286,039 | 0.1 | ||||||||||||||||
Singapore: 3.0% | |||||||||||||||||||
206,999 | @ | Flextronics International Ltd. | 1,194,384 | 0.5 | |||||||||||||||
271,000 | Mapletree Commercial Trust | 268,279 | 0.1 | ||||||||||||||||
812,680 | Mapletree Industrial Trust | 931,494 | 0.4 | ||||||||||||||||
243,000 | United Overseas Land Ltd. | 1,124,367 | 0.5 | ||||||||||||||||
5,565,770 | Other Securities | 3,742,087 | 1.5 | ||||||||||||||||
7,260,611 | 3.0 | ||||||||||||||||||
South Africa: 0.3% | |||||||||||||||||||
315,202 | Other Securities | 677,123 | 0.3 | ||||||||||||||||
South Korea: 3.0% | |||||||||||||||||||
87,980 | BS Financial Group, Inc. | 995,822 | 0.4 | ||||||||||||||||
382,087 | Other Securities | 6,272,166 | 2.6 | ||||||||||||||||
7,267,988 | 3.0 | ||||||||||||||||||
Sweden: 1.3% | |||||||||||||||||||
413,341 | Other Securities(a) | 3,124,755 | 1.3 | ||||||||||||||||
Switzerland: 4.0% | |||||||||||||||||||
3,251 | Forbo Holding AG | 2,054,632 | 0.9 | ||||||||||||||||
43,805 | Gategroup Holding AG | 1,160,955 | 0.5 | ||||||||||||||||
4,430 | Helvetia Holding AG | 1,555,574 | 0.6 | ||||||||||||||||
113,689 | Other Securities | 4,890,784 | 2.0 | ||||||||||||||||
9,661,945 | 4.0 | ||||||||||||||||||
Taiwan: 1.9% | |||||||||||||||||||
6,893,010 | Other Securities | 4,595,088 | 1.9 | ||||||||||||||||
Thailand: 1.3% | |||||||||||||||||||
1,751,000 | Krung Thai Bank PCL | 1,029,344 | 0.4 | ||||||||||||||||
369,200 | Total Access Communication PCL | 1,041,963 | 0.5 | ||||||||||||||||
221,700 | Other Securities | 1,009,556 | 0.4 | ||||||||||||||||
3,080,863 | 1.3 | ||||||||||||||||||
Turkey: 0.5% | |||||||||||||||||||
1,052,229 | Other Securities | 1,312,544 | 0.5 | ||||||||||||||||
United Arab Emirates: 0.1% | |||||||||||||||||||
200,000 | Other Securities | 239,492 | 0.1 | ||||||||||||||||
United Kingdom: 17.4% | |||||||||||||||||||
257,265 | @ | Cairn Energy PLC | 1,166,081 | 0.5 | |||||||||||||||
563,674 | Debenhams PLC | 1,091,284 | 0.4 | ||||||||||||||||
113,483 | Dechra Pharmaceuticals PLC | 1,130,791 | 0.5 | ||||||||||||||||
66,198 | Dignity PLC | 999,257 | 0.4 | ||||||||||||||||
229,938 | Drax Group PLC | 2,086,891 | 0.9 | ||||||||||||||||
734,199 | @ | EnQuest PLC | 1,376,348 | 0.6 | |||||||||||||||
COMMON STOCK: (continued) | |||||||||||||||||||
United Kingdom: (continued) | |||||||||||||||||||
223,353 | Intermediate Capital Group PLC | $ | 1,102,438 | 0.4 | |||||||||||||||
159,041 | Interserve PLC | 1,001,944 | 0.4 | ||||||||||||||||
108,008 | Micro Focus International PLC | 1,001,837 | 0.4 | ||||||||||||||||
350,849 | QinetiQ PLC | 1,117,451 | 0.5 | ||||||||||||||||
130,183 | WH Smith PLC | 1,306,396 | 0.5 | ||||||||||||||||
13,509,061 | Other Securities(a) | 28,791,864 | 11.9 | ||||||||||||||||
42,172,582 | 17.4 | ||||||||||||||||||
United States: 0.4% | |||||||||||||||||||
343,773 | Other Securities | 923,870 | 0.4 | ||||||||||||||||
Total Common Stock | |||||||||||||||||||
(Cost $222,860,398) | 236,885,428 | 97.8 | |||||||||||||||||
PREFERRED STOCK: 0.1% | |||||||||||||||||||
Germany: 0.1% | |||||||||||||||||||
2,300 | Other Securities | 162,615 | 0.1 | ||||||||||||||||
Total Preferred Stock | |||||||||||||||||||
(Cost $131,000) | 162,615 | 0.1 | |||||||||||||||||
Total Long-Term Investments | |||||||||||||||||||
(Cost $222,991,398) | 237,048,043 | 97.9 | |||||||||||||||||
Principal Amount† | | | | Value | | Percentage of Net Assets | |||||||||||||
SHORT-TERM INVESTMENTS: 1.0% | |||||||||||||||||||
Securities Lending Collateralcc(1): 0.7% | |||||||||||||||||||
722,019 | Daiwa Capital Markets, Repurchase Agreement dated 10/31/12, 0.38%, due 11/01/12 (Repurchase Amount $722,027, collateralized by various U.S. Government and U.S. Government Agency Obligations, 0.000%–6.500%, Market Value plus accrued interest $736,459, due 01/15/14–11/01/42) | 722,019 | 0.3 | ||||||||||||||||
1,000,000 | Merrill Lynch & Co., Inc., Repurchase Agreement dated 10/31/12, 0.33%, due 11/01/12 (Repurchase Amount $1,000,009, collateralized by various U.S. Government Agency Obligations, 3.000%–4.500%, Market Value plus accrued interest $1,020,000, due 01/01/27–10/20/42) | 1,000,000 | 0.4 | ||||||||||||||||
1,722,019 | 0.7 |
AS OF OCTOBER 31, 2012 (CONTINUED)
Shares | | | | Value | | Percentage of Net Assets | |||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
SHORT-TERM INVESTMENTS: (continued) | |||||||||||||||||||
Mutual Funds: 0.3% | |||||||||||||||||||
632,563 | BlackRock Liquidity Funds, TempFund, Institutional Class | ||||||||||||||||||
(Cost $632,563) | $ | 632,563 | 0.3 | ||||||||||||||||
Total Short-Term Investments | |||||||||||||||||||
(Cost $2,354,582) | 2,354,582 | 1.0 | |||||||||||||||||
Total Investments in Securities (Cost $225,345,980) | $ | 239,402,625 | 98.9 | ||||||||||||||||
Assets in Excess of Other Liabilities | 2,770,605 | 1.1 | |||||||||||||||||
Net Assets | $ | 242,173,230 | 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. |
(a) | This grouping contains securities on loan. |
Cost for federal income tax purposes is $228,052,548. |
Net unrealized appreciation consists of: | ||||||
Gross Unrealized Appreciation | $ | 43,637,136 | ||||
Gross Unrealized Depreciation | (32,287,059 | ) | ||||
Net Unrealized Appreciation | $ | 11,350,077 |
Sector Diversification | | Percentage of Net Assets | ||||
---|---|---|---|---|---|---|
Industrials | 22.8 | % | ||||
Consumer Discretionary | 18.9 | |||||
Financials | 13.1 | |||||
Information Technology | 11.9 | |||||
Materials | 11.9 | |||||
Health Care | 5.9 | |||||
Energy | 5.3 | |||||
Consumer Staples | 4.9 | |||||
Telecommunication Services | 2.2 | |||||
Utilities | 1.0 | |||||
Short-Term Investments | 1.0 | |||||
Assets in Excess of Other Liabilities | 1.1 | |||||
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 October 31, 2012 | |||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Asset Table | ||||||||||||||||||
Investments, at fair value | ||||||||||||||||||
Common Stock | ||||||||||||||||||
Australia | $ | 415,807 | $ | 14,633,385 | $ | — | $ | 15,049,192 | ||||||||||
Austria | 1,294,802 | 2,321,476 | — | 3,616,278 | ||||||||||||||
Belgium | 1,907,548 | 1,030,078 | — | 2,937,626 | ||||||||||||||
Bermuda | 36,385 | — | — | 36,385 | ||||||||||||||
Brazil | 1,105,859 | — | — | 1,105,859 | ||||||||||||||
Canada | 9,404,260 | — | — | 9,404,260 | ||||||||||||||
China | 1,106,906 | 2,228,862 | 26,371 | 3,362,139 | ||||||||||||||
Denmark | 145,735 | 2,421,719 | — | 2,567,454 | ||||||||||||||
Finland | 123,225 | 257,073 | — | 380,298 | ||||||||||||||
France | 2,059,411 | 8,918,072 | — | 10,977,483 | ||||||||||||||
Germany | 5,363,952 | 18,549,637 | — | 23,913,589 | ||||||||||||||
Greece | 28,111 | — | — | 28,111 | ||||||||||||||
Hong Kong | 696,379 | 9,178,157 | 62,930 | 9,937,466 | ||||||||||||||
India | 434,287 | 2,424,861 | 45,374 | 2,904,522 | ||||||||||||||
Indonesia | — | 1,118,624 | — | 1,118,624 | ||||||||||||||
Ireland | 1,422,653 | 2,595,206 | — | 4,017,859 | ||||||||||||||
Israel | — | 127,756 | — | 127,756 | ||||||||||||||
Italy | 599,519 | 7,328,402 | — | 7,927,921 | ||||||||||||||
Japan | 711,259 | 43,591,504 | — | 44,302,763 | ||||||||||||||
Malaysia | 321,416 | 1,993,636 | — | 2,315,052 | ||||||||||||||
Mexico | 745,446 | — | — | 745,446 | ||||||||||||||
Netherlands | 83,110 | 3,025,093 | — | 3,108,203 | ||||||||||||||
New Zealand | — | 2,402,066 | — | 2,402,066 | ||||||||||||||
Norway | 1,323,990 | 1,957,375 | — | 3,281,365 |
AS OF OCTOBER 31, 2012 (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 October 31, 2012 | |||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Pakistan | $ | 220,798 | $ | — | $ | — | $ | 220,798 | ||||||||||
Philippines | — | 383,526 | — | 383,526 | ||||||||||||||
Poland | — | 66,098 | — | 66,098 | ||||||||||||||
Portugal | 44,389 | — | — | 44,389 | ||||||||||||||
Russia | — | 286,039 | — | 286,039 | ||||||||||||||
Singapore | 1,531,841 | 5,728,770 | — | 7,260,611 | ||||||||||||||
South Africa | 250,409 | 426,714 | — | 677,123 | ||||||||||||||
South Korea | 969,636 | 6,298,352 | — | 7,267,988 | ||||||||||||||
Sweden | 846,296 | 2,278,459 | — | 3,124,755 | ||||||||||||||
Switzerland | 2,685,693 | 6,976,252 | — | 9,661,945 | ||||||||||||||
Taiwan | 551,666 | 4,043,422 | — | 4,595,088 | ||||||||||||||
Thailand | — | 3,080,863 | — | 3,080,863 | ||||||||||||||
Turkey | — | 1,312,544 | — | 1,312,544 | ||||||||||||||
United Arab Emirates | — | 239,492 | — | 239,492 | ||||||||||||||
United Kingdom | 5,915,233 | 36,257,349 | — | 42,172,582 | ||||||||||||||
United States | 923,870 | — | — | 923,870 | ||||||||||||||
Total Common Stock | 43,269,891 | 193,480,862 | 134,675 | 236,885,428 | ||||||||||||||
Preferred Stock | — | 162,615 | — | 162,615 | ||||||||||||||
Short-Term Investments | 632,563 | 1,722,019 | — | 2,354,582 | ||||||||||||||
Total Investments, at fair value | $ | 43,902,454 | $ | 195,365,496 | $ | 134,675 | $ | 239,402,625 | ||||||||||
(1) | For the year ended October 31, 2012, as a result of the fair value pricing procedures for international equities utilized by the Fund, certain securities have transferred in and out of Level 1 and Level 2 measurements during the year. The Fund’s policy is to recognize transfers between levels at the end of the reporting period. At October 31, 2012, securities valued at $2,606,043 and $22,682,702 were transferred from Level 1 to Level 2 and Level 2 and Level 1, respectively, within the fair value hierarchy. At October 31, 2012, certain securities valued at $43,575 transferred from Level 3 to Level 1 due to the availability of quoted prices in active markets. At October 31, 2012, certain securities valued at $3,181 transferred from Level 2 to Level 3 due to significant unobservable inputs. |
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 Fund 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 portion of the Fund’s investments are categorized as Level 2 investments. |
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 | $ | 42,317 | ||||
Total | $ | 42,317 |
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, 2012 (CONTINUED)
Shares | | | | Value | | Percentage of Net Assets | |||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
COMMON STOCK: 98.6% | |||||||||||||||||||
Australia: 3.5% | |||||||||||||||||||
235,533 | Alumina Ltd. | $ | 235,115 | 1.0 | |||||||||||||||
20,849 | Newcrest Mining Ltd. | 575,017 | 2.5 | ||||||||||||||||
810,132 | 3.5 | ||||||||||||||||||
Belgium: 2.8% | |||||||||||||||||||
10,261 | Ageas | 261,604 | 1.1 | ||||||||||||||||
13,356 | Belgacom S.A. | 390,476 | 1.7 | ||||||||||||||||
652,080 | 2.8 | ||||||||||||||||||
Brazil: 2.4% | |||||||||||||||||||
33,097 | Banco Santander Brasil SA ADR | 225,059 | 1.0 | ||||||||||||||||
19,100 | Centrais Eletricas Brasileiras SA | 104,855 | 0.4 | ||||||||||||||||
28,198 | Centrais Eletricas Brasileiras SA ADR | 225,584 | 1.0 | ||||||||||||||||
555,498 | 2.4 | ||||||||||||||||||
Canada: 9.9% | |||||||||||||||||||
21,130 | Barrick Gold Corp. | 855,765 | 3.7 | ||||||||||||||||
27,426 | Cameco Corp. | 530,693 | 2.3 | ||||||||||||||||
53,091 | Kinross Gold Corp. | 530,379 | 2.3 | ||||||||||||||||
31,879 | Talisman Energy, Inc. | 363,421 | 1.6 | ||||||||||||||||
2,280,258 | 9.9 | ||||||||||||||||||
France: 11.2% | |||||||||||||||||||
8,126 | Alstom | 277,769 | 1.2 | ||||||||||||||||
12,988 | @ | Areva SA | 228,205 | 1.0 | |||||||||||||||
23,834 | Carrefour S.A. | 575,603 | 2.5 | ||||||||||||||||
15,906 | Electricite de France SA | 336,588 | 1.5 | ||||||||||||||||
6,446 | Sanofi-Aventis | 566,133 | 2.4 | ||||||||||||||||
9,779 | Thales S.A. | 344,230 | 1.5 | ||||||||||||||||
12,340 | Vivendi | 252,863 | 1.1 | ||||||||||||||||
2,581,391 | 11.2 | ||||||||||||||||||
Germany: 3.7% | |||||||||||||||||||
3,753 | Allianz AG | 466,216 | 2.0 | ||||||||||||||||
3,787 | Siemens AG | 381,572 | 1.7 | ||||||||||||||||
847,788 | 3.7 | ||||||||||||||||||
Israel: 2.1% | |||||||||||||||||||
11,866 | Teva Pharmaceutical Industries Ltd. ADR | 479,624 | 2.1 | ||||||||||||||||
Italy: 3.3% | |||||||||||||||||||
678,784 | Telecom Italia S.p.A. RNC | 543,544 | 2.4 | ||||||||||||||||
28,491 | Other Securities | 206,842 | 0.9 | ||||||||||||||||
750,386 | 3.3 | ||||||||||||||||||
Japan: 30.1% | |||||||||||||||||||
144,390 | Sumitomo Mitsui Trust Holdings, Inc. | 438,195 | 1.9 | ||||||||||||||||
29,800 | Coca-Cola West Co., Ltd. | 456,837 | 2.0 | ||||||||||||||||
53,000 | Dai Nippon Printing Co., Ltd. | 375,561 | 1.6 | ||||||||||||||||
14,400 | Daiichi Sankyo Co., Ltd. | 220,407 | 1.0 | ||||||||||||||||
20,900 | Fuji Photo Film Co., Ltd. | 352,800 | 1.5 | ||||||||||||||||
45,000 | Japan Steel Works Ltd. | 266,752 | 1.2 | ||||||||||||||||
COMMON STOCK: (continued) | |||||||||||||||||||
Japan: (continued) | |||||||||||||||||||
10,300 | Mabuchi Motor Co., Ltd. | $ | 436,481 | 1.9 | |||||||||||||||
34,200 | Mitsui Sumitomo Insurance Group Holdings, Inc. | 579,991 | 2.5 | ||||||||||||||||
2,700 | Nintendo Co., Ltd. | 348,569 | 1.5 | ||||||||||||||||
28,136 | Nippon Telegraph & Telephone Corp. ADR | 642,063 | 2.8 | ||||||||||||||||
37,800 | Panasonic Corp. | 229,278 | 1.0 | ||||||||||||||||
10,200 | Rohm Co., Ltd. | 329,422 | 1.4 | ||||||||||||||||
7,800 | Sankyo Co., Ltd. | 353,389 | 1.5 | ||||||||||||||||
38,000 | Sekisui House Ltd. | 388,549 | 1.7 | ||||||||||||||||
11,800 | Seven & I Holdings Co., Ltd. | 363,905 | 1.6 | ||||||||||||||||
34,400 | Shiseido Co., Ltd. | 435,342 | 1.9 | ||||||||||||||||
4,555 | Toyota Motor Corp. ADR | 352,876 | 1.5 | ||||||||||||||||
32,000 | Wacoal Holdings Corp. | 360,027 | 1.6 | ||||||||||||||||
6,930,444 | 30.1 | ||||||||||||||||||
Netherlands: 1.6% | |||||||||||||||||||
19,564 | Wolters Kluwer NV | 378,506 | 1.6 | ||||||||||||||||
Norway: 1.6% | |||||||||||||||||||
296,568 | @ | Marine Harvest | 232,693 | 1.0 | |||||||||||||||
16,388 | Other Securities | 129,820 | 0.6 | ||||||||||||||||
362,513 | 1.6 | ||||||||||||||||||
Russia: 1.7% | |||||||||||||||||||
43,417 | Gazprom OAO ADR | 396,614 | 1.7 | ||||||||||||||||
South Africa: 5.3% | |||||||||||||||||||
17,838 | AngloGold Ashanti Ltd ADR | 606,135 | 2.6 | ||||||||||||||||
38,832 | Gold Fields Ltd. | 482,450 | 2.1 | ||||||||||||||||
6,966 | Other Securities | 125,593 | 0.6 | ||||||||||||||||
1,214,178 | 5.3 | ||||||||||||||||||
South Korea: 4.2% | |||||||||||||||||||
28,868 | Korea Electric Power Corp. ADR | 372,109 | 1.6 | ||||||||||||||||
38,515 | SK Telecom Co., Ltd. ADR | 601,989 | 2.6 | ||||||||||||||||
974,098 | 4.2 | ||||||||||||||||||
Sweden: 1.8% | |||||||||||||||||||
46,217 | Telefonaktiebolaget LM Ericsson ADR | 410,869 | 1.8 | ||||||||||||||||
Switzerland: 2.9% | |||||||||||||||||||
44,235 | @ | UBS AG | 664,410 | 2.9 | |||||||||||||||
United Kingdom: 6.8% | |||||||||||||||||||
26,333 | GlaxoSmithKline PLC | 590,060 | 2.6 | ||||||||||||||||
133,821 | Home Retail Group | 247,059 | 1.1 | ||||||||||||||||
73,244 | @ | Polyus Gold International Ltd. | 243,784 | 1.0 | |||||||||||||||
177,462 | Vodafone Group PLC | 481,926 | 2.1 | ||||||||||||||||
1,562,829 | 6.8 | ||||||||||||||||||
AS OF OCTOBER 31, 2012 (CONTINUED)
Shares | | | | Value | | Percentage of Net Assets | |||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
COMMON STOCK: (continued) | |||||||||||||||||||
United States: 3.7% | |||||||||||||||||||
10,367 | Axis Capital Holdings Ltd. | $ | 375,493 | 1.6 | |||||||||||||||
6,308 | Manpower, Inc. | 239,325 | 1.0 | ||||||||||||||||
21,923 | @ | Weatherford International Ltd. | 247,730 | 1.1 | |||||||||||||||
862,548 | 3.7 | ||||||||||||||||||
Total Common Stock | |||||||||||||||||||
(Cost $23,837,336) | 22,714,166 | 98.6 | |||||||||||||||||
SHORT-TERM INVESTMENTS: 0.9% | |||||||||||||||||||
Mutual Funds: 0.9% | |||||||||||||||||||
203,586 | BlackRock Liquidity Funds, TempFund, Institutional Class | ||||||||||||||||||
(Cost $203,586) | 203,586 | 0.9 | |||||||||||||||||
Total Short-Term Investments | |||||||||||||||||||
(Cost $203,586) | 203,586 | 0.9 | |||||||||||||||||
Total Investments in Securities (Cost $24,040,922) | $ | 22,917,752 | 99.5 | ||||||||||||||||
Assets in Excess of Other Liabilities | 106,569 | 0.5 | |||||||||||||||||
Net Assets | $ | 23,024,321 | 100.0 |
@ | Non-income producing security |
ADR | American Depositary Receipt |
Cost for federal income tax purposes is $25,200,154. |
Net unrealized depreciation consists of: | ||||||
Gross Unrealized Appreciation | $ | 2,044,525 | ||||
Gross Unrealized Depreciation | (4,326,927 | ) | ||||
Net Unrealized Depreciation | $ | (2,282,402 | ) |
Sector Diversification | | Percentage of Net Assets | ||||
---|---|---|---|---|---|---|
Materials | 15.8 | % | ||||
Financials | 13.0 | |||||
Telecommunication Services | 12.7 | |||||
Industrials | 10.7 | |||||
Consumer Discretionary | 10.0 | |||||
Consumer Staples | 9.0 | |||||
Energy | 8.6 | |||||
Health Care | 8.1 | |||||
Information Technology | 6.2 | |||||
Utilities | 4.5 | |||||
Short-Term Investments | 0.9 | |||||
Assets in Excess of Other Liabilities | 0.5 | |||||
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 October 31, 2012 | |||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Asset Table | ||||||||||||||||||
Investments, at fair value | ||||||||||||||||||
Common Stock | ||||||||||||||||||
Australia | $ | — | $ | 810,132 | $ | — | $ | 810,132 | ||||||||||
Belgium | — | 652,080 | — | �� | 652,080 | |||||||||||||
Brazil | 555,498 | — | — | 555,498 | ||||||||||||||
Canada | 2,280,258 | — | — | 2,280,258 | ||||||||||||||
France | — | 2,581,391 | — | 2,581,391 | ||||||||||||||
Germany | — | 847,788 | — | 847,788 | ||||||||||||||
Israel | 479,624 | — | — | 479,624 | ||||||||||||||
Italy | — | 750,386 | — | 750,386 | ||||||||||||||
Japan | 994,939 | 5,935,505 | — | 6,930,444 | ||||||||||||||
Netherlands | — | 378,506 | — | 378,506 | ||||||||||||||
Norway | — | 362,513 | — | 362,513 | ||||||||||||||
Russia | 396,614 | — | — | 396,614 | ||||||||||||||
South Africa | 606,135 | 608,043 | — | 1,214,178 | ||||||||||||||
South Korea | 974,098 | — | — | 974,098 | ||||||||||||||
Sweden | 410,869 | — | — | 410,869 | ||||||||||||||
Switzerland | 664,410 | — | — | 664,410 | ||||||||||||||
United Kingdom | 243,784 | 1,319,045 | — | 1,562,829 | ||||||||||||||
United States | 862,548 | — | — | 862,548 | ||||||||||||||
Total Common Stock | 8,468,777 | 14,245,389 | — | 22,714,166 | ||||||||||||||
Short-Term Investments | 203,586 | — | — | 203,586 | ||||||||||||||
Total Investments, at fair value | $ | 8,672,363 | $ | 14,245,389 | $ | — | $ | 22,917,752 |
AS OF OCTOBER 31, 2012 (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 Fund 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 portion of the Fund’s investments are categorized as Level 2 investments. |
AS OF OCTOBER 31, 2012
Shares | | | | Value | | Percentage of Net Assets | |||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
COMMON STOCK: 98.4% | |||||||||||||||||||
Australia: 1.6% | |||||||||||||||||||
359,449 | Other Securities | $ | 7,785,225 | 1.6 | |||||||||||||||
Belgium: 1.3% | |||||||||||||||||||
110,129 | Belgacom S.A. | 3,219,728 | 0.7 | ||||||||||||||||
123,359 | Other Securities | 2,901,828 | 0.6 | ||||||||||||||||
6,121,556 | 1.3 | ||||||||||||||||||
Brazil: 1.5% | |||||||||||||||||||
622,971 | Other Securities | 7,195,608 | 1.5 | ||||||||||||||||
Canada: 2.2% | |||||||||||||||||||
375,100 | Other Securities | 10,534,188 | 2.2 | ||||||||||||||||
China: 1.5% | |||||||||||||||||||
4,358,500 | Other Securities | 7,084,300 | 1.5 | ||||||||||||||||
Denmark: 0.6% | |||||||||||||||||||
173,971 | Other Securities | 2,721,548 | 0.6 | ||||||||||||||||
Finland: 0.5% | |||||||||||||||||||
405,293 | Other Securities | 2,563,714 | 0.5 | ||||||||||||||||
France: 10.2% | |||||||||||||||||||
264,457 | AXA S.A. | 4,215,082 | 0.9 | ||||||||||||||||
65,605 | BNP Paribas | 3,309,425 | 0.7 | ||||||||||||||||
156,569 | Carrefour S.A. | 3,781,222 | 0.8 | ||||||||||||||||
178,780 | Gaz de France | 4,103,401 | 0.8 | ||||||||||||||||
133,041 | Sanofi-Aventis | 11,684,589 | 2.4 | ||||||||||||||||
140,670 | Total S.A. | 7,085,540 | 1.5 | ||||||||||||||||
814,066 | Other Securities | 14,873,868 | 3.1 | ||||||||||||||||
49,053,127 | 10.2 | ||||||||||||||||||
Germany: 6.1% | |||||||||||||||||||
163,359 | Deutsche Post AG | 3,238,736 | 0.7 | ||||||||||||||||
350,941 | Deutsche Telekom AG | 4,003,689 | 0.8 | ||||||||||||||||
84,331 | Siemens AG | 8,497,058 | 1.7 | ||||||||||||||||
268,488 | Other Securities | 13,824,016 | 2.9 | ||||||||||||||||
29,563,499 | 6.1 | ||||||||||||||||||
Hong Kong: 2.0% | |||||||||||||||||||
8,728,000 | Other Securities(a) | 9,453,165 | 2.0 | ||||||||||||||||
Israel: 0.5% | |||||||||||||||||||
186,078 | Other Securities | 2,327,952 | 0.5 | ||||||||||||||||
Italy: 4.7% | |||||||||||||||||||
352,667 | ENI S.p.A. | 8,115,149 | 1.7 | ||||||||||||||||
1,939,890 | Intesa Sanpaolo S.p.A. | 3,124,942 | 0.6 | ||||||||||||||||
2,799,503 | Telecom Italia S.p.A. | 2,582,849 | 0.5 | ||||||||||||||||
4,538,016 | Telecom Italia S.p.A. RNC | 3,633,871 | 0.8 | ||||||||||||||||
1,032,589 | Other Securities | 5,413,743 | 1.1 | ||||||||||||||||
22,870,554 | 4.7 | ||||||||||||||||||
Japan: 22.3% | |||||||||||||||||||
100,500 | Canon, Inc. | 3,266,218 | 0.7 | ||||||||||||||||
COMMON STOCK: (continued) | |||||||||||||||||||
Japan: (continued) | |||||||||||||||||||
596,800 | #, @ | Dynam Japan Holdings Co. Ltd. | $ | 1,054,982 | 0.2 | ||||||||||||||
242,300 | Fuji Photo Film Co., Ltd. | 4,090,116 | 0.8 | ||||||||||||||||
734,888 | Hitachi Ltd. | 3,897,239 | 0.8 | ||||||||||||||||
124,400 | Honda Motor Co., Ltd. | 3,739,868 | 0.8 | ||||||||||||||||
170,100 | Japan Tobacco, Inc. | 4,703,650 | 1.0 | ||||||||||||||||
93,000 | JGC Corp. | 3,199,705 | 0.7 | ||||||||||||||||
87,700 | Nippon Telegraph & Telephone Corp. | 4,010,357 | 0.8 | ||||||||||||||||
160,600 | Omron Corp. | 3,201,767 | 0.7 | ||||||||||||||||
188,200 | Seven & I Holdings Co., Ltd. | 5,803,978 | 1.2 | ||||||||||||||||
191,500 | Sumitomo Mitsui Financial Group, Inc. | 5,851,666 | 1.2 | ||||||||||||||||
229,600 | Tokio Marine Holdings, Inc. | 6,077,542 | 1.2 | ||||||||||||||||
3,568,595 | Other Securities | 58,885,101 | 12.2 | ||||||||||||||||
107,782,189 | 22.3 | ||||||||||||||||||
Mexico: 0.7% | |||||||||||||||||||
219,144 | Other Securities | 3,376,937 | 0.7 | ||||||||||||||||
Netherlands: 7.6% | |||||||||||||||||||
320,912 | Koninklijke Ahold NV | 4,086,649 | 0.9 | ||||||||||||||||
237,745 | Royal Dutch Shell PLC — Class A | 8,157,746 | 1.7 | ||||||||||||||||
100,506 | Royal Dutch Shell PLC — Class B | 3,555,169 | 0.7 | ||||||||||||||||
141,615 | Koninklijke Philips Electronics NV | 3,546,878 | 0.7 | ||||||||||||||||
163,715 | Unilever NV | 6,017,252 | 1.3 | ||||||||||||||||
253,352 | Wolters Kluwer NV | 4,901,618 | 1.0 | ||||||||||||||||
590,321 | Other Securities | 6,462,354 | 1.3 | ||||||||||||||||
36,727,666 | 7.6 | ||||||||||||||||||
Norway: 0.6% | |||||||||||||||||||
114,994 | Other Securities | 2,832,182 | 0.6 | ||||||||||||||||
Russia: 0.4% | |||||||||||||||||||
35,900 | Other Securities | 2,170,155 | 0.4 | ||||||||||||||||
Singapore: 1.5% | |||||||||||||||||||
1,390,600 | Other Securities | 7,055,046 | 1.5 | ||||||||||||||||
South Africa: 0.7% | |||||||||||||||||||
234,257 | Other Securities | 3,315,684 | �� | 0.7 | |||||||||||||||
South Korea: 1.1% | |||||||||||||||||||
214,200 | KT Corp. ADR | 3,630,690 | 0.7 | ||||||||||||||||
6,047 | Other Securities | 1,900,902 | 0.4 | ||||||||||||||||
5,531,592 | 1.1 | ||||||||||||||||||
Spain: 1.4% | |||||||||||||||||||
288,085 | Indra Sistemas S.A. | 3,296,250 | 0.7 | ||||||||||||||||
667,803 | Other Securities | 3,723,291 | 0.7 | ||||||||||||||||
7,019,541 | 1.4 |
AS OF OCTOBER 31, 2012 (CONTINUED)
Shares | | | | Value | | Percentage of Net Assets | |||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
COMMON STOCK: (continued) | |||||||||||||||||||
Sweden: 1.3% | |||||||||||||||||||
701,637 | Telefonaktiebolaget LM Ericsson | $ | 6,215,857 | 1.3 | |||||||||||||||
Switzerland: 5.3% | |||||||||||||||||||
54,959 | Nestle S.A. | 3,489,250 | 0.7 | ||||||||||||||||
119,894 | Novartis AG | 7,229,677 | 1.5 | ||||||||||||||||
34,638 | Roche Holding AG — Genusschein | 6,672,152 | 1.4 | ||||||||||||||||
418,765 | Other Securities | 8,197,556 | 1.7 | ||||||||||||||||
25,588,635 | 5.3 | ||||||||||||||||||
United Kingdom: 20.3% | |||||||||||||||||||
126,530 | AstraZeneca PLC | 5,867,846 | 1.2 | ||||||||||||||||
684,412 | BAE Systems PLC | 3,454,428 | 0.7 | ||||||||||||||||
1,687,199 | Barclays PLC | 6,238,863 | 1.3 | ||||||||||||||||
182,725 | BHP Billiton PLC | 5,856,610 | 1.2 | ||||||||||||||||
873,081 | BP PLC | 6,235,247 | 1.3 | ||||||||||||||||
173,847 | @ | CRH PLC | 3,243,097 | 0.7 | |||||||||||||||
356,097 | GlaxoSmithKline PLC | 7,979,291 | 1.7 | ||||||||||||||||
610,181 | HSBC Holdings PLC | 6,015,997 | 1.3 | ||||||||||||||||
6,903,804 | @ | Lloyds TSB Group PLC | 4,546,214 | 0.9 | |||||||||||||||
284,183 | Prudential PLC | 3,902,886 | 0.8 | ||||||||||||||||
98,889 | Rio Tinto PLC | 4,940,179 | 1.0 | ||||||||||||||||
1,297,273 | Tesco PLC | 6,712,705 | 1.4 | ||||||||||||||||
2,558,755 | Vodafone Group PLC | 6,948,700 | 1.4 | ||||||||||||||||
5,827,232 | Other Securities | 25,850,563 | 5.4 | ||||||||||||||||
97,792,626 | 20.3 | ||||||||||||||||||
United States: 2.5% | |||||||||||||||||||
65,700 | Newmont Mining Corp. | 3,583,935 | 0.7 | ||||||||||||||||
270,534 | Other Securities | 8,441,324 | 1.8 | ||||||||||||||||
12,025,259 | 2.5 | ||||||||||||||||||
Total Common Stock | |||||||||||||||||||
(Cost $509,403,588) | 474,707,805 | 98.4 | |||||||||||||||||
RIGHTS: 0.0% | |||||||||||||||||||
Bermuda: 0.0% | |||||||||||||||||||
255,000 | Other Securities | 68,849 | 0.0 | ||||||||||||||||
Total Rights | |||||||||||||||||||
(Cost $—) | 68,849 | 0.0 | |||||||||||||||||
Total Long-Term Investments | |||||||||||||||||||
(Cost $509,403,588) | 474,776,654 | 98.4 | |||||||||||||||||
Principal Amount† | | | | Value | | Percentage of Net Assets | |||||||||||||
SHORT-TERM INVESTMENTS: 1.6% | |||||||||||||||||||
Securities Lending Collateralcc(1): 0.2% | |||||||||||||||||||
700,066 | Daiwa Capital Markets, Repurchase Agreement dated 10/31/12, 0.38%, due 11/01/12 (Repurchase Amount $700,073, collateralized by various U.S. Government and U.S. Government Agency Obligations, 0.000%–6.500%, Market Value plus accrued interest $714,067, due 01/15/14–11/01/42) | ||||||||||||||||||
(Cost $700,066) | $ | 700,066 | 0.2 | ||||||||||||||||
Shares | | | | Value | | Percentage of Net Assets | |||||||||||||
Mutual Funds: 1.4% | |||||||||||||||||||
6,924,432 | BlackRock Liquidity Funds, TempFund, Institutional Class | ||||||||||||||||||
(Cost $6,924,432) | 6,924,432 | 1.4 | |||||||||||||||||
Total Short-Term Investments | |||||||||||||||||||
(Cost $7,624,498) | 7,624,498 | 1.6 | |||||||||||||||||
Total Investments in Securities (Cost $517,028,086) | $ | 482,401,152 | 100.0 | ||||||||||||||||
Assets in Excess of Other Liabilities | 182,401 | — | |||||||||||||||||
Net Assets | $ | 482,583,553 | 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 Depositary 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. |
(a) | This grouping contains securities on loan. |
Cost for federal income tax purposes is $528,336,347. |
Net unrealized depreciation consists of: | ||||||
Gross Unrealized Appreciation | $ | 41,599,796 | ||||
Gross Unrealized Depreciation | (87,534,991 | ) | ||||
Net Unrealized Depreciation | $ | (45,935,195 | ) |
AS OF OCTOBER 31, 2012 (CONTINUED)
Sector Diversification | | Percentage of Net Assets | ||||
---|---|---|---|---|---|---|
Financials | 20.0 | % | ||||
Energy | 10.7 | |||||
Health Care | 10.2 | |||||
Consumer Staples | 9.8 | |||||
Telecommunication Services | 9.3 | |||||
Materials | 9.2 | |||||
Information Technology | 8.7 | |||||
Consumer Discretionary | 8.6 | |||||
Industrials | 8.5 | |||||
Utilities | 3.4 | |||||
Short-Term Investments | 1.6 | |||||
Assets in Excess of Other Liabilities | — | |||||
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 October 31, 2012 | |||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Asset Table | ||||||||||||||||||
Investments, at fair value | ||||||||||||||||||
Common Stock | ||||||||||||||||||
Australia | $ | 2,567,862 | $ | 5,217,363 | $ | — | $ | 7,785,225 | ||||||||||
Belgium | — | 6,121,556 | — | 6,121,556 | ||||||||||||||
Brazil | 7,195,608 | — | — | 7,195,608 | ||||||||||||||
Canada | 10,534,188 | — | — | 10,534,188 | ||||||||||||||
China | — | 7,084,300 | — | 7,084,300 | ||||||||||||||
Denmark | — | 2,721,548 | — | 2,721,548 | ||||||||||||||
Finland | — | 2,563,714 | — | 2,563,714 | ||||||||||||||
France | — | 49,053,127 | — | 49,053,127 | ||||||||||||||
Germany | — | 29,563,499 | — | 29,563,499 | ||||||||||||||
Hong Kong | — | 9,301,779 | 151,386 | 9,453,165 | ||||||||||||||
Israel | — | 2,327,952 | — | 2,327,952 | ||||||||||||||
Italy | — | 22,870,554 | — | 22,870,554 | ||||||||||||||
Japan | 1,054,982 | 106,727,207 | — | 107,782,189 | ||||||||||||||
Mexico | 3,376,937 | — | — | 3,376,937 | ||||||||||||||
Netherlands | — | 36,727,666 | — | 36,727,666 | ||||||||||||||
Norway | — | 2,832,182 | — | 2,832,182 | ||||||||||||||
Russia | 2,170,155 | — | — | 2,170,155 | ||||||||||||||
Singapore | — | 7,055,046 | — | 7,055,046 | ||||||||||||||
South Africa | — | 3,315,684 | — | 3,315,684 | ||||||||||||||
South Korea | 3,630,690 | 1,900,902 | — | 5,531,592 | ||||||||||||||
Spain | — | 7,019,541 | — | 7,019,541 | ||||||||||||||
Sweden | — | 6,215,857 | — | 6,215,857 | ||||||||||||||
Switzerland | — | 25,588,635 | — | 25,588,635 | ||||||||||||||
United Kingdom | 6,634,267 | 91,158,359 | — | 97,792,626 | ||||||||||||||
United States | 12,025,259 | — | — | 12,025,259 | ||||||||||||||
Total Common Stock | 49,189,948 | 425,366,471 | 151,386 | 474,707,805 | ||||||||||||||
Rights | — | 68,849 | — | 68,849 | ||||||||||||||
Short-Term Investments | 6,924,432 | 700,066 | — | 7,624,498 | ||||||||||||||
Total Investments, at fair value | $ | 56,114,380 | $ | 426,135,386 | $ | 151,386 | $ | 482,401,152 | ||||||||||
�� |
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 Fund 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 portion of the Fund’s investments are categorized as Level 2 investments. |
AS OF OCTOBER 31, 2012
Shares | | | | Value | | Percentage of Net Assets | |||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
COMMON STOCK: 98.8% | |||||||||||||||||||
Consumer Discretionary: 0.5% | |||||||||||||||||||
152,700 | @ | M Video | $ | 1,201,523 | 0.5 | ||||||||||||||
Consumer Staples: 6.7% | |||||||||||||||||||
83,000 | Magnit OAO | 11,803,821 | 4.9 | ||||||||||||||||
20,940 | Magnit OJSC | 2,977,976 | 1.2 | ||||||||||||||||
100,000 | #, @ | MHP SA GDR | 1,520,000 | 0.6 | |||||||||||||||
16,301,797 | 6.7 | ||||||||||||||||||
Energy: 42.5% | |||||||||||||||||||
30,100 | Eurasia Drilling Co. Ltd. GDR | 1,041,460 | 0.4 | ||||||||||||||||
3,753,700 | Gazprom OAO | 17,341,064 | 7.1 | ||||||||||||||||
91,600 | KazMunaiGas Exploration Production GDR | 1,625,900 | 0.7 | ||||||||||||||||
416,893 | Lukoil OAO ADR | 25,201,182 | 10.3 | ||||||||||||||||
93,503 | NovaTek OAO GDR | 10,705,525 | 4.4 | ||||||||||||||||
65,600 | L | Gazprom Neft JSC ADR | 1,617,696 | 0.7 | |||||||||||||||
1,642,200 | Rosneft Oil Co. GDR | 12,202,035 | 5.0 | ||||||||||||||||
7,565,800 | @ | Surgutneftegas OJSC | 4,681,748 | 1.9 | |||||||||||||||
559,212 | L | Surgutneftegas OJSC ADR | 4,893,600 | 2.0 | |||||||||||||||
470,000 | Tatneft | 1,532,053 | 0.6 | ||||||||||||||||
258,033 | L | Tatneft ADR | 10,033,644 | 4.1 | |||||||||||||||
6,450 | Transneft | 12,915,315 | 5.3 | ||||||||||||||||
103,791,222 | 42.5 | ||||||||||||||||||
Financials: 15.9% | |||||||||||||||||||
244,843 | @, L | Halyk Savings Bank of Kazakhstan JSC GDR | 1,740,833 | 0.7 | |||||||||||||||
1,121,780 | LSR Group GDR | 5,424,716 | 2.2 | ||||||||||||||||
8,816,221 | Sberbank | 25,808,559 | 10.6 | ||||||||||||||||
1,727,400 | L | VTB Bank OJSC GDR | 5,982,237 | 2.4 | |||||||||||||||
38,956,345 | 15.9 | ||||||||||||||||||
Health Care: 1.1% | |||||||||||||||||||
213,000 | @ | MD Medical Group Investments PLC GDR | 2,626,290 | 1.1 | |||||||||||||||
Industrials: 1.0% | |||||||||||||||||||
138,400 | Globaltrans Investment PLC GDR | 2,560,400 | 1.0 | ||||||||||||||||
Information Technology: 1.4% | |||||||||||||||||||
56,494 | @ | Mail.ru Group Ltd. GDR | 1,888,010 | 0.8 | |||||||||||||||
64,500 | @ | Yandex NV | 1,501,560 | 0.6 | |||||||||||||||
3,389,570 | 1.4 | ||||||||||||||||||
Materials: 15.3% | |||||||||||||||||||
228,500 | Eurasian Natural Resources Corp. | 1,211,306 | 0.5 | ||||||||||||||||
321,500 | L | Mechel OAO ADR | 2,041,525 | 0.8 | |||||||||||||||
31,100 | @ | MMC Norilsk Nickel | 4,786,379 | 2.0 | |||||||||||||||
477,000 | L | MMC Norilsk Nickel ADR | 7,331,743 | 3.0 | |||||||||||||||
1,234,030 | Novolipetsk Steel | 2,317,921 | 0.9 | ||||||||||||||||
75,400 | Phosagro OAO GDR | 1,042,028 | 0.4 | ||||||||||||||||
129,300 | Polymetal International PLC | 2,330,747 | 1.0 | ||||||||||||||||
COMMON STOCK: (continued) | |||||||||||||||||||
Materials: (continued) | |||||||||||||||||||
408,400 | L | Severstal OAO GDR | $ | 4,959,953 | 2.0 | ||||||||||||||
291,390 | Uralkali GDR | 11,455,192 | 4.7 | ||||||||||||||||
37,476,794 | 15.3 | ||||||||||||||||||
Telecommunications: 9.3% | |||||||||||||||||||
1,012,300 | JSFC Sistema | 753,906 | 0.3 | ||||||||||||||||
118,900 | Mobile Telesystems OJSC | 875,062 | 0.4 | ||||||||||||||||
183,800 | Mobile Telesystems OJSC | 1,352,703 | 0.6 | ||||||||||||||||
818,300 | Mobile Telesystems OJSC ADR | 14,025,662 | 5.7 | ||||||||||||||||
1,279,500 | Rostelecom OJSC | 3,762,543 | 1.5 | ||||||||||||||||
104,400 | Sistema JSFC GDR | 1,922,278 | 0.8 | ||||||||||||||||
22,692,154 | 9.3 | ||||||||||||||||||
Utilities: 5.1% | |||||||||||||||||||
870,207,200 | @ | Federal Grid Co. Unified Energy System JSC | 5,673,664 | 2.3 | |||||||||||||||
274,215,648 | @ | RusHydro | 6,736,165 | 2.8 | |||||||||||||||
12,409,829 | 5.1 | ||||||||||||||||||
Total Common Stock | |||||||||||||||||||
(Cost $190,360,829) | 241,405,924 | 98.8 | |||||||||||||||||
PREFERRED STOCK: 1.1% | |||||||||||||||||||
Financials: 1.1% | |||||||||||||||||||
1,283,300 | @ | Sberbank of Russia | 2,703,119 | 1.1 | |||||||||||||||
Total Preferred Stock | |||||||||||||||||||
(Cost $2,820,817) | 2,703,119 | 1.1 | |||||||||||||||||
Total Long-Term Investments | |||||||||||||||||||
(Cost $193,181,646) | 244,109,043 | 99.9 | |||||||||||||||||
Principal Amount† | | | | Value | | Percentage of Net Assets | |||||||||||||
SHORT-TERM INVESTMENTS: 5.8% | |||||||||||||||||||
Securities Lending Collateralcc,(1): 5.8% | |||||||||||||||||||
164,830 | Barclays Bank PLC, Repurchase Agreement dated 10/31/12, 0.30%, due 11/01/12 (Repurchase Amount $164,831, collateralized by various U.S. Government Securities, 0.375%–6.125%, Market Value plus accrued interest $168,127, due 04/15/15–05/15/38) | 164,830 | 0.0 | ||||||||||||||||
3,343,955 | Citigroup, Inc., Repurchase Agreement dated 10/31/12, 0.32%, due 11/01/12 (Repurchase Amount $3,343,984, collateralized by various U.S. Government and U.S. Government Agency Obligations, 0.000%–11.000%, Market Value plus accrued interest $3,410,835, due 11/15/12–09/20/62) | 3,343,955 | 1.4 |
AS OF OCTOBER 31, 2012 (CONTINUED)
Principal Amount† | | | | Value | | Percentage of Net Assets | |||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
SHORT-TERM INVESTMENTS: (continued) | |||||||||||||||||||
Securities Lending Collateralcc,(1): (continued) | |||||||||||||||||||
539,160 | Daiwa Capital Markets, Repurchase Agreement dated 10/31/12, 0.38%, due 11/01/12 (Repurchase Amount $539,166, collateralized by various U.S. Government and U.S. Government Agency Obligations, 0.000%–6.500%, Market Value plus accrued interest $549,943, due 01/15/14–11/01/42) | $ | 539,160 | 0.2 | |||||||||||||||
3,343,955 | Deutsche Bank AG, Repurchase Agreement dated 10/31/12, 0.35%, due 11/01/12 (Repurchase Amount $3,343,987, collateralized by various U.S. Government Securities, 0.000%–2.125%, Market Value plus accrued interest $3,410,834, due 07/15/15–02/15/41) | 3,343,955 | 1.4 | ||||||||||||||||
3,343,955 | Merrill Lynch & Co., Inc., Repurchase Agreement dated 10/31/12, 0.33%, due 11/01/12 (Repurchase Amount $3,343,985, collateralized by various U.S. Government Agency Obligations, 3.000%–4.500%, Market Value plus accrued interest $3,410,834, due 01/01/27–10/20/42) | 3,343,955 | 1.4 | ||||||||||||||||
SHORT-TERM INVESTMENTS: (continued) | |||||||||||||||||||
Securities Lending Collateralcc,(1): (continued) | |||||||||||||||||||
3,343,955 | Mizuho Securities USA Inc., Repurchase Agreement dated 10/31/12, 0.38%, due 11/01/12 (Repurchase Amount $3,343,990, collateralized by various U.S. Government Agency Obligations, 2.034%–11.000%, Market Value plus accrued interest $3,410,834, due 02/01/13–01/01/42) | $ | 3,343,955 | 1.4 | |||||||||||||||
14,079,810 | 5.8 | ||||||||||||||||||
Total Short-Term Investments | |||||||||||||||||||
(Cost $14,079,810) | 14,079,810 | 5.8 | |||||||||||||||||
Total Investments in Securities (Cost $207,261,456) | $ | 258,188,853 | 105.7 | ||||||||||||||||
Liabilities in Excess of Other Assets | (13,827,378 | ) | (5.7 | ) | |||||||||||||||
Net Assets | $ | 244,361,475 | 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 Depositary Receipt |
GDR | Global Depositary 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, 2012. |
(1) | Collateral received from brokers for securities lending was invested into these short-term investments. |
Cost for federal income tax purposes is $216,676,869. |
Net unrealized appreciation consists of: | ||||||
Gross Unrealized Appreciation | $ | 70,044,295 | ||||
Gross Unrealized Depreciation | (28,532,311 | ) | ||||
Net Unrealized Appreciation | $ | 41,511,984 |
Quoted Prices in Active Markets for Identical Investments (Level 1) | Significant Other Observable Inputs# (Level 2) | Significant Unobservable Inputs (Level 3) | Fair Value at October 31, 2012 | |||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Asset Table | ||||||||||||||||||
Investments, at fair value | ||||||||||||||||||
Common Stock | ||||||||||||||||||
Consumer Discretionary | $ | — | $ | 1,201,523 | $ | — | $ | 1,201,523 | ||||||||||
Consumer Staples | 1,520,000 | 14,781,797 | — | 16,301,797 | ||||||||||||||
Energy | 29,486,238 | 74,304,984 | — | 103,791,222 | ||||||||||||||
Financials | 1,740,833 | 37,215,512 | — | 38,956,345 | ||||||||||||||
Health Care | 2,626,290 | — | — | 2,626,290 |
AS OF OCTOBER 31, 2012 (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 October 31, 2012 | |||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Industrials | $ | 2,560,400 | $ | — | $ | — | $ | 2,560,400 | ||||||||||
Information Technology | 1,501,560 | 1,888,010 | — | 3,389,570 | ||||||||||||||
Materials | 3,083,553 | 34,393,241 | — | 37,476,794 | ||||||||||||||
Telecommunications | 14,025,662 | 8,666,492 | — | 22,692,154 | ||||||||||||||
Utilities | — | 12,409,829 | — | 12,409,829 | ||||||||||||||
Total Common Stock | 56,544,536 | 184,861,388 | — | 241,405,924 | ||||||||||||||
Preferred Stock | — | 2,703,119 | — | 2,703,119 | ||||||||||||||
Short-Term Investments | — | 14,079,810 | — | 14,079,810 | ||||||||||||||
Total Investments, at fair value | $ | 56,544,536 | $ | 201,644,317 | $ | — | $ | 258,188,853 | ||||||||||
(1) | For the year ended October 31, 2012, as a result of the fair value pricing procedures for international equities utilized by the Fund, certain securities have transferred in and out of Level 1 and Level 2 measurements during the year. The Fund’s policy is to recognize transfers between levels at the end of the reporting period. At October 31, 2012, securities valued at $98,313,612 and $2,897,446 were transferred from Level 1 to Level 2 and Level 2 and Level 1, respectively, within the fair value hierarchy. |
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 Fund 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 portion of the Fund’s investments are categorized as Level 2 investments. |
Fund Name | Type | Per Share Amount | ||||||||
---|---|---|---|---|---|---|---|---|---|---|
ING Diversified International Fund | ||||||||||
Class A | NII | $ | 0.1054 | |||||||
Class B | NII | $ | 0.0225 | |||||||
Class C | NII | $ | 0.0227 | |||||||
Class I | NII | $ | 0.1319 | |||||||
Class O | NII | $ | 0.1126 | |||||||
Class R | NII | $ | 0.0855 | |||||||
Class W | NII | $ | 0.1343 | |||||||
ING Global Bond Fund | ||||||||||
Class A | NII | $ | 0.1447 | |||||||
Class B | NII | $ | 0.0602 | |||||||
Class C | NII | $ | 0.0610 | |||||||
Class I | NII | $ | 0.1800 | |||||||
Class O | NII | $ | 0.1460 | |||||||
Class R | NII | $ | 0.1117 | |||||||
Class W | NII | $ | 0.1744 | |||||||
All Classes | STCG | $ | 0.3305 | |||||||
All Classes | LTCG | $ | 0.1228 | |||||||
All Classes | ROC | $ | 0.1644 | |||||||
ING Global Value Choice Fund | ||||||||||
Class A | NII | $ | 0.3054 | |||||||
Class B | NII | $ | — | |||||||
Class C | NII | $ | 0.0847 | |||||||
Class I | NII | $ | 0.4300 | |||||||
Class W | NII | $ | 0.3871 | |||||||
All Classes | STCG | $ | 1.4720 | |||||||
All Classes | LTCG | $ | 1.5798 | |||||||
ING Index Plus International Equity Fund | ||||||||||
Class A | NII | $ | 0.1853 | |||||||
Class B | NII | $ | 0.0932 | |||||||
Class C | NII | $ | 0.1217 | |||||||
Class I | NII | $ | 0.2229 | |||||||
Class O | NII | $ | 0.1864 | |||||||
Class W | NII | $ | 0.2191 | |||||||
ING International Small Cap Fund | ||||||||||
Class A | NII | $ | 0.5705 | |||||||
Class B | NII | $ | 0.1651 | |||||||
Class C | NII | $ | 0.3323 | |||||||
Class I | NII | $ | 0.7676 | |||||||
Class O | NII | $ | 0.6457 | |||||||
Class W | NII | $ | 0.7165 | |||||||
ING International Value Choice Fund | ||||||||||
Class A | NII | $ | 0.2727 | |||||||
Class B | NII | $ | 0.1484 | |||||||
Class C | NII | $ | 0.1833 | |||||||
Class I | NII | $ | 0.3032 | |||||||
Class W | NII | $ | 0.3013 | |||||||
ING International Value Fund | ||||||||||
Class A | NII | $ | 0.2786 | |||||||
Class B | NII | $ | 0.1626 | |||||||
Class C | NII | $ | 0.1944 | |||||||
Class I | NII | $ | 0.3320 | |||||||
Class W | NII | $ | 0.3148 |
Diversified International | 0.78 | % | ||||
Global Value Choice | 16.55 | % | ||||
International Small Cap | 0.39 | % | ||||
International Value | 0.62 | % |
Diversified International | 100.00 | % | ||||
Global Value Choice | 37.51 | % | ||||
Index Plus International Equity | 100.00 | % | ||||
International Small Cap | 100.00 | % | ||||
International Value Choice | 100.00 | % | ||||
International Value | 100.00 | % |
Global Bond | 100.00 | % | ||||
International Small Cap | 0.52 | % |
Global Bond | ||||||
Global Value Choice |
Creditable Foreign Taxes Paid | Per Share Amount | Portion of Ordinary Income Distribution Derived from Foreign Sourced Income* | ||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Diversified International | $ | 143,407 | $ | 0.0132 | 84.25 | % | ||||||||
Global Value Choice | $ | 510,446 | $ | 0.0743 | 89.47 | % | ||||||||
Index Plus International Equity | $ | 200,347 | $ | 0.0280 | 93.59 | % | ||||||||
International Small Cap | $ | 431,252 | $ | 0.0671 | 74.57 | % | ||||||||
International Value Choice | $ | 72,086 | $ | 0.0287 | 100.00 | % | ||||||||
International Value | $ | 1,424,152 | $ | 0.0303 | 94.01 | % | ||||||||
Russia | $ | 758,990 | $ | 0.0972 | 99.04 | % |
* | None of the funds listed above derived any income from ineligible foreign sources as defined under Section 901(j) of the Internal Revenue Code. |
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 | Number of Funds in Fund Complex Overseen by Trustee(2) | Other Board Positions Held by Trustee | |||||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Independent Trustees: | ||||||||||||||||||||||
Colleen D. Baldwin 7337 East Doubletree Ranch Rd. Suite 100 Scottsdale, Arizona 85258 Age: 52 | Trustee | IMF November 2007–Present IMT December 2007–Present | President, Glantuam Partners, LLC, a business consulting firm (January 2009– Present). | 138 | None. | |||||||||||||||||
John V. Boyer 7337 East Doubletree Ranch Rd. Suite 100 Scottsdale, Arizona 85258 Age: 59 | 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). | 138 | None. | |||||||||||||||||
Patricia W. Chadwick 7337 East Doubletree Ranch Rd. Suite 100 Scottsdale, Arizona 85258 Age: 64 | 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). | 138 | Wisconsin Energy Corporation (June 2006–Present) and The Royce Fund, (35 funds) (December 2009–Present). | |||||||||||||||||
Peter S. Drotch 7337 East Doubletree Ranch Rd. Suite 100 Scottsdale, Arizona 85258 Age: 70 | Trustee | IMF November 2007–Present IMT December 2007–Present | Retired. | 138 | First Marblehead Corporation (September 2003–Present). | |||||||||||||||||
J. Michael Earley 7337 East Doubletree Ranch Rd. Suite 100 Scottsdale, Arizona 85258 Age: 67 | Trustee | February 2002–Present | Retired. Formerly, Banking President and Chief Executive Officer, Bankers Trust Company, N.A., Des Moines (June 1992–December 2008). | 138 | None. | |||||||||||||||||
Patrick W. Kenny 7337 East Doubletree Ranch Rd. Suite 100 Scottsdale, Arizona 85258 Age: 69 | Trustee | January 2005–Present | Retired. Formerly, President and Chief Executive Officer, International Insurance Society (June 2001– June 2009). | 138 | Assured Guaranty Ltd. (April 2004–Present). | |||||||||||||||||
Sheryl K. Pressler 7337 East Doubletree Ranch Rd. Suite 100 Scottsdale, Arizona 85258 Age: 62 | Trustee | January 2006–Present | Consultant (May 2001– Present). | 138 | Stillwater Mining Company (May 2002–Present). | |||||||||||||||||
Roger B. Vincent 7337 East Doubletree Ranch Rd. Suite 100 Scottsdale, Arizona 85258 Age: 67 | Chairperson/Trustee | February 2002–Present | Retired. Formerly, President, Springwell Corporation, a corporate finance firm (March 1989–August 2011). | 138 | UGI Corporation (February 2006–Present) and UGI Utilities, Inc. (February 2006–Present). |
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 | Number of Funds in Fund Complex Overseen by Trustee(2) | Other Board Positions Held by Trustee | |||||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Trustees who are “Interested Persons”: | ||||||||||||||||||||||
Robert W. Crispin(3) 7337 East Doubletree Ranch Rd. Suite 100 Scottsdale, Arizona 85258 Age: 66 | Trustee | IMF November 2007–Present IMT December 2007–Present | Retired. | 138 | Intact Financial Corporation (December 2004–Present) and PFM Group (November 2010–Present). | |||||||||||||||||
Shaun P. Mathews(3) 7337 East Doubletree Ranch Rd. Suite 100 Scottsdale, Arizona 85258 Age: 57 | Trustee | IMF November 2007–Present IMT December 2007–Present | President and Chief Executive Officer, ING Investments, LLC (November 2006–Present). | 174 | ING Capital Corporation, LLC (December 2005–Present). |
(1) | Trustees serve until their successors are duly elected and qualified. The tenure of each Trustee is subject to the Board’s retirement policy which states that each duly elected or appointed Trustee who is not an “interested person” of the Trust, as defined in the 1940 Act, as amended (“Independent Trustees”), shall retire from service as a Trustee at the conclusion of the first regularly scheduled quarterly meeting of the Board that is held after the Trustee reaches the age of 72. A unanimous vote of the Board may extend the retirement date of a 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 Trust under applicable law, whether for purposes of appointing a successor to the 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) | Except for Mr. Mathews and for the purposes of this table “ING 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 Equity Dividend and Premium Opportunity Fund; ING Global Advantage and Premium Opportunity Fund; ING Global Strategic Income 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. For Mr. Mathews, the ING Fund Complex also includes 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. Therefore, for the purposes of this table with reference to Mr. Mathews, “Fund Complex” includes these investment companies. The number of funds in the ING Fund Complex is as of November 30, 2012. |
(3) | Messrs. Crispin and Matthews are deemed “Interested Persons” of the Trust because of their current or prior affiliation with ING Groep, N.V., the parent corporation of the Investment Adviser(s) and the Distributor. |
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: 57 | President and Chief Executive Officer | November 2006–Present | President and Chief Executive Officer, ING Investments, LLC (November 2006–Present). | |||||||||||
Michael J. Roland 7337 East Doubletree Ranch Rd. Suite 100 Scottsdale, Arizona 85258 Age: 54 | Executive Vice President | February 2002–Present | Managing Director and Chief Operating Officer, ING Investments, LLC and ING Funds Services, LLC (April 2012–Present) and Chief Compliance Officer, Directed Services LLC and ING Investments, LLC (March 2011–Present). Formerly, Executive Vice President and Chief Operating Officer, ING Investments, LLC and ING Funds Services, LLC (January 2007–April 2012) and Chief Compliance Officer, ING Funds (March 2011–February 2012). | |||||||||||
Stanley D. Vyner 230 Park Avenue New York, New York 10169 Age: 62 | Executive Vice President Chief Investment Risk Officer | IMF May 1999–Present IMT November 1999–Present September 2009–Present | Executive Vice President, ING Investments, LLC (July 2000–Present) and Chief Investment Risk Officer, ING Investments, LLC (January 2003–Present). | |||||||||||
Kevin M. Gleason 7337 East Doubletree Ranch Rd. Suite 100 Scottsdale, Arizona 85258 Age: 46 | Chief Compliance Officer | February 2012–Present | Senior Vice President, ING Investment Management, LLC (February 2012– Present). Formerly, Assistant General Counsel and Assistant Secretary, The Northwestern Mutual Life Insurance Company (June 2004–January 2012). | |||||||||||
Kimberly A. Anderson 7337 East Doubletree Ranch Rd. Suite 100 Scottsdale, Arizona 85258 Age: 48 | Senior Vice President | November 2003–Present | Senior Vice President, ING Investments, LLC (October 2003– Present). | |||||||||||
Todd Modic 7337 East Doubletree Ranch Rd. Suite 100 Scottsdale, Arizona 85258 Age: 45 | Senior Vice President, Chief/Principal Financial Officer and Assistant Secretary | March 2005–Present | Senior Vice President, ING Funds Services, LLC (March 2005–Present). | |||||||||||
Robert Terris 7337 East Doubletree Ranch Rd. Suite 100 Scottsdale, Arizona 85258 Age: 42 | Senior Vice President | May 2006–Present | Senior Vice President, Head of Division Operations, ING Funds Services, LLC (May 2006–Present). | |||||||||||
Julius Drelick 7337 East Doubletree Ranch Rd. Suite 100 Scottsdale, Arizona 85258 Age: 46 | Senior Vice President | July 2012–Present | Senior Vice President — Fund Compliance, ING Funds Services, LLC (June 2012–Present). Formerly, Vice President — Platform Product Management & Project Management, ING Investments, LLC (April 2007– June 2012). | |||||||||||
Robyn L. Ichilov 7337 East Doubletree Ranch Rd. Suite 100 Scottsdale, Arizona 85258 Age: 45 | Vice President | IMF May 1999–Present IMT November 1999– Present | Vice President and Treasurer, ING Funds Services, LLC (November 1995–Present) and ING Investments, LLC (August 1997–Present). Formerly, Treasurer, ING Funds (November 1999–February 2012). | |||||||||||
Maria M. Anderson 7337 East Doubletree Ranch Rd. Suite 100 Scottsdale, Arizona 85258 Age: 54 | Vice President | September 2004–Present | Vice President, ING Funds Services, LLC (September 2004–Present). |
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 | |||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Lauren D. Bensinger 7337 East Doubletree Ranch Rd. Suite 100 Scottsdale, Arizona 85258 Age: 58 | Vice President | February 2003–Present | Vice President, ING Investments, LLC and ING Funds Services, LLC (February 1996–Present); Director of Compliance, ING Investments, LLC (October 2004–Present); and Vice President and Money Laundering Reporting Officer, ING Investments Distributor, LLC (April 2010–Present). Formerly, Chief Compliance Officer, ING Investments Distributor, LLC (August 1995–April 2010). | |||||||||||
Jason Kadavy 7337 East Doubletree Ranch Rd. Suite 100 Scottsdale, Arizona 85258 Age: 36 | Vice President | September 2012–Present | Vice President, ING Funds Services, LLC (July 2007–Present). | |||||||||||
Fred Bedoya 7337 East Doubletree Ranch Rd. Suite 100 Scottsdale, Arizona 85258 Age: 39 | Vice President and Treasurer | September 2012–Present | Vice President, ING Funds Services, LLC (March 2012–Present). Formerly, Assistant Vice President–Director, ING Funds Services, LLC (August 2003–March 2012). | |||||||||||
Kimberly K. Springer 7337 East Doubletree Ranch Rd. Suite 100 Scottsdale, Arizona 85258 Age: 55 | Vice President | March 2006–Present | Vice President — Platform Product Management & Project Management, ING Investments, LLC (July 2012– Present); Vice President, ING Investment Management — ING Funds (March 2010–Present) and Vice President, ING Funds Services, LLC (March 2006–Present). Formerly Managing Paralegal, Registration Statements (June 2003–July 2012). | |||||||||||
Craig Wheeler 7337 East Doubletree Ranch Rd. Suite 100 Scottsdale, Arizona 85258 Age: 43 | Assistant Vice President | May 2008–Present | Assistant Vice President — Director of Tax, ING Funds Services, LLC (March 2008–Present). Formerly, Tax Manager, ING Funds Services, LLC (March 2005–March 2008). | |||||||||||
Theresa K. Kelety 7337 East Doubletree Ranch Rd. Suite 100 Scottsdale, Arizona 85258 Age: 49 | 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). | |||||||||||
Huey P. Falgout, Jr. 7337 East Doubletree Ranch Rd. Suite 100 Scottsdale, Arizona 85258 Age: 49 | 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: 61 | 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). |
(1) | The Officers hold office until the next annual meeting of the Board of Trustees and until their successors shall have been elected and qualified. |
Independent Trustees, determined to: (1) approve the merger of the Fund with and into ING International Value Equity Fund (formerly, ING Global Value Choice Fund), a series of ING Mutual Funds in March 2013 (the “Merger”), subject to shareholder approval of the Merger; (2) terminate Tradewinds as sub-adviser to the Fund effective November 13, 2012; (3) appoint ING IM as sub-adviser to the Fund; (4) approve an interim sub-advisory agreement with ING IM that became effective on November 30, 2012 (the “Interim Agreement”), under which ING IM would serve as the sub-adviser to the Fund and provide day-to-day management services to the Fund for a period of up to 150 days; and (5) approve a new sub-advisory contract (“Sub-Advisory Contract”) with ING IM under which it would continue to serve as sub-adviser to the Fund upon expiration of the 150 day period of the Interim Agreement. The Merger is subject to shareholder approval and is expected to become effective in March 2013. The Sub-Advisory Contract is also subject to shareholder approval and is expected to become effective in March 2013 in the event the merger is not approved or the closing date of the merger takes place after the expiration of the Interim Agreement. The Interim Agreement was put into place to bridge the period between the termination of Tradewinds and the date of a Special Meeting of Shareholders that was called for the purpose of determining whether to approve the Merger.
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
![](https://capedge.com/proxy/N-CSR/0001145443-13-000038/ing-logo.jpg)
(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 $22,708 for year ended October 31, 2012 and $37,318 for year ended October 31, 2011. | |
(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, 2012 and $2,400 for the year ended October 31, 2011. | |
(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 $9,457 in the year ended October 31, 2012 and $7,414 in the year ended October 31, 2011. 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, 2012 and $0 for the year ended October 31, 2011. | |
(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: November 17, 2011
5
Appendix A
Pre-Approved Audit Services for the Pre-Approval Period January 1, 2012 through December 31, 2012
Service | ||
| The Fund(s) | Fee Range |
Statutory audits or financial audits (including tax services associated with audit services) | √ | As presented to Audit Committee1 |
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 $9,750 per filing |
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 $8,000 during the Pre-Approval Period |
Seed capital audit and related review and issuance of consent on the N-2 registration statement | √ | Not to exceed $13,000 per audit |
____________________
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 January 1, 2012 through December 31, 2012
Service | |||
| The Fund(s) | Fund Affiliates | Fee Range |
Services related to Fund mergers (Excludes tax services - See Appendix C for tax services associated with Fund mergers) | √ | √ | Not to exceed $10,000 per merger |
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 $5,000 per occurrence during the Pre-Approval Period |
Review of the Funds’ semi-annual and quarterly financial statements | √ |
| Not to exceed $2,400 per set of financial statements per fund |
Reports to regulatory or government agencies related to the annual engagement | √ |
| Up to $5,000 per occurrence during the Pre-Approval Period |
Regulatory compliance assistance | √ | √ | Not to exceed $5,000 per quarter |
Training courses |
| √ | Not to exceed $2,000 per course |
For Prime Rate Trust, agreed upon procedures for quarterly reports to rating agencies | √ |
| Not to exceed $9,450 per quarter |
|
|
|
|
7
Appendix C
Pre-Approved Tax Services for the Pre-Approval Period January 1, 2012 through December 31, 2012
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 Audit Committee2 |
Review of IRC Sections 851(b) and 817(h) diversification testing on a real-time basis | √ |
| As presented to Audit Committee2 |
Assistance and advice regarding year-end reporting for 1099’s | √ |
| As presented to Audit Committee2 |
Tax assistance and advice regarding statutory, regulatory or administrative developments | √ | √ | Not to exceed $5,000 for the Funds or for the Funds’ investment adviser during the Pre-Approval Period |
____________________
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 Affiliates | Fee Range |
Tax training courses |
| √ | Not to exceed $2,000 per course during the Pre-Approval Period |
Tax services associated with Fund mergers | √ | √ | Not to exceed $4,000 per fund per merger during the Pre-Approval Period |
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 $120,000 during the Pre-Approval Period |
9
Appendix D
Pre-Approved Other Services for the Pre-Approval Period January 1, 2012 through December 31, 2012
Service | |||
| The Fund(s) | Fund Affiliates | Fee Range |
Agreed-upon procedures for Class B share 12b-1 programs |
| √ | Not to exceed $60,000 during the Pre-Approval Period |
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 $5,000 per Fund during the Pre-Approval Period |
Agreed upon procedures for 15 (c) FACT Books | √ |
| Not to exceed $35,000 during the Pre-Approval Period |
10
Appendix E
Prohibited Non-Audit Services
Dated:
January 1, 2012 to December 31, 2012
·
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 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
ING EMERGING MARKETS LOCAL BOND FUND
ING EMERING MARKETS HIGH DIVIDEND EQUITY FUND
(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 $351,837 for year ended October 31, 2012 and $50,106 for year ended October 31, 2011. | |
(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. |
ING INTERNATIONAL VALUE FUND | SUMMARY PORTFOLIO OF INVESTMENTS |
AS OF OCTOBER 31, 2012 |
Shares | Value | Percentage of Net Assets | ||||
COMMON STOCK: 98.4% | ||||||
Australia: 1.6% | ||||||
118,005 | Australia & New Zealand Banking Group Ltd. | 3,113,136 | 0 .7 | |||
36,300 | BHP Billiton Ltd. ADR | 2,567,862 | 0 .5 | |||
205,144 | Iluka Resources Ltd. | 2,104,227 | 0 .4 | |||
7,785,225 | 1 .6 | |||||
Belgium: 1.3% | ||||||
110,129 | Belgacom S.A. | 3,219,728 | 0 .7 | |||
123,359 | KBC Groep NV | 2,901,828 | 0 .6 | |||
6,121,556 | 1 .3 | |||||
Brazil: 1.5% | ||||||
63,592 | Banco do Brasil S.A. | 678,486 | 0 .1 | |||
144,000 | Banco Santander Brasil SA ADR | 979,200 | 0 .2 | |||
196,071 | Centrais Eletricas Brasileiras SA ADR | 1,090,155 | 0 .2 | |||
120,170 | Petroleo Brasileiro SA ADR | 2,467,090 | 0 .5 | |||
55,530 | Telefonica Brasil SA ADR | 1,222,770 | 0 .3 | |||
43,608 | Tim Participacoes SA ADR | 757,907 | 0 .2 | |||
7,195,608 | 1 .5 | |||||
Canada: 2.2% | ||||||
74,500 | Barrick Gold Corp. | 3,017,250 | 0 .6 | |||
177,000 | Kinross Gold Corp. | 1,768,230 | 0 .4 | |||
27,900 | Magna International, Inc. | 1,239,039 | 0 .2 | |||
29,600 | National Bank Of Canada | 2,287,387 | 0 .5 | |||
66,100 | Suncor Energy, Inc. | 2,222,282 | 0 .5 | |||
10,534,188 | 2 .2 | |||||
China: 1.5% | ||||||
232,500 | China Mobile Ltd. | 2,578,831 | 0 .6 | |||
754,000 | China Overseas Land & Investment Ltd. | 1,963,302 | 0 .4 | |||
3,182,000 | Huaneng Power International, Inc. | 2,542,167 | 0 .5 | |||
190,000 | @,X | Sino-Forest Corp. | – | – | ||
7,084,300 | 1 .5 | |||||
Denmark: 0.6% | ||||||
173,971 | @ | Danske Bank A/S | 2,721,548 | 0 .6 | ||
Finland: 0.5% | ||||||
405,293 | Stora Enso OYJ (Euro Denominated Security) | 2,563,714 | 0 .5 | |||
France: 10.2% | ||||||
13,083 | Air Liquide | 1,544,467 | 0 .3 | |||
264,457 | AXA S.A. | 4,215,082 | 0 .9 | |||
65,605 | BNP Paribas | 3,309,425 | 0 .7 | |||
156,569 | Carrefour S.A. | 3,781,222 | 0 .8 | |||
277,335 | France Telecom S.A. | 3,099,900 | 0 .6 | |||
178,780 | Gaz de France | 4,103,401 | 0 .9 | |||
332,128 | Natixis | 1,090,067 | 0 .2 | |||
55,118 | Renault S.A. | 2,471,420 | 0 .5 | |||
133,041 | Sanofi-Aventis | 11,684,589 | 2 .4 | |||
43,100 | Schneider Electric S.A. | 2,698,675 | 0 .6 | |||
81,018 | @ | Societe Generale | 2,583,823 | 0 .5 | ||
12,284 | Technip S.A. | 1,385,516 | 0 .3 | |||
140,670 | Total S.A. | 7,085,540 | 1 .5 | |||
49,053,127 | 10 .2 | |||||
Germany: 6.1% | ||||||
28,659 | BASF AG | 2,377,263 | 0 .5 | |||
24,843 | Bayer AG | 2,166,126 | 0 .4 | |||
32,206 | Bayerische Motoren Werke AG | 2,574,726 | 0 .5 | |||
8,470 | DaimlerChrysler AG | 396,774 | 0 .1 | |||
28,500 | Deutsche Bank AG | 1,298,199 | 0 .3 | |||
163,359 | Deutsche Post AG | 3,238,736 | 0 .7 | |||
350,941 | Deutsche Telekom AG | 4,003,689 | 0 .8 | |||
112,085 | E.ON AG | 2,551,612 | 0 .5 | |||
33,725 | SAP AG | 2,459,316 | 0 .5 | |||
84,331 | Siemens AG | 8,497,058 | 1 .8 | |||
29,563,499 | 6 .1 | |||||
Hong Kong: 2.0% | ||||||
494,000 | AIA Group Ltd. | 1,948,073 | 0 .4 | |||
6,582,000 | @,X | Chaoda Modern Agriculture Holdings Ltd. | 151,386 | 0 .1 | ||
510,000 | L | Esprit Holdings Ltd. | 659,446 | 0 .1 | ||
281,500 | Power Assets Holdings Ltd. | 2,392,059 | 0 .5 | |||
397,000 | Wharf Holdings Ltd. | 2,706,866 | 0 .6 | |||
463,500 | Yue Yuen Industrial Holdings | 1,595,335 | 0 .3 | |||
9,453,165 | 2 .0 | |||||
Israel: 0.5% | ||||||
186,078 | Israel Chemicals Ltd. | 2,327,952 | 0 .5 | |||
Italy: 4.7% | ||||||
651,064 | Enel S.p.A. | 2,451,730 | 0 .5 | |||
352,667 | ENI S.p.A. | 8,115,149 | 1 .7 | |||
258,225 | Fiat Industrial SpA | 2,798,882 | 0 .6 | |||
1,939,890 | Intesa Sanpaolo S.p.A. | 3,124,942 | 0 .6 | |||
123,300 | Intesa Sanpaolo SpA | 163,131 | 0 .0 | |||
2,799,503 | Telecom Italia S.p.A. | 2,582,849 | 0 .5 | |||
4,538,016 | Telecom Italia S.p.A. RNC | 3,633,871 | 0 .8 | |||
22,870,554 | 4 .7 | |||||
Japan: 22.3% | ||||||
48,500 | Astellas Pharma, Inc. | 2,412,273 | 0 .5 | |||
49,600 | Bridgestone Corp. | 1,158,607 | 0 .2 | |||
100,500 | Canon, Inc. | 3,266,217 | 0 .7 | |||
705,590 | Sumitomo Mitsui Trust Holdings, Inc. | 2,141,326 | 0 .4 | |||
379,600 | Dai Nippon Printing Co., Ltd. | 2,689,865 | 0 .5 | |||
127,036 | Daiichi Sankyo Co., Ltd. | 1,944,420 | 0 .4 | |||
596,800 | #,@ | Dynam Japan Holdings Co. Ltd. | 1,054,982 | 0 .2 | ||
242,300 | Fuji Photo Film Co., Ltd. | 4,090,116 | 0 .8 | |||
241,000 | Hachijuni Bank Ltd. | 1,244,959 | 0 .2 | |||
734,888 | Hitachi Ltd. | 3,897,239 | 0 .8 | |||
124,400 | Honda Motor Co., Ltd. | 3,739,868 | 0 .8 | |||
133,800 | Hoya Corp. | 2,709,788 | 0 .6 | |||
285 | Inpex Holdings, Inc. | 1,623,607 | 0 .3 | |||
170,100 | Japan Tobacco, Inc. | 4,703,650 | 1 .0 |
ING INTERNATIONAL VALUE FUND | SUMMARY PORTFOLIO OF INVESTMENTS |
AS OF OCTOBER 31, 2012 (CONTINUED) |
Shares | Value | Percentage of Net Assets | ||||
COMMON STOCK: (continued) | ||||||
Japan: (continued) | ||||||
93,000 | JGC Corp. | 3,199,705 | 0 .7 | |||
50,300 | Kao Corp. | 1,413,006 | 0 .3 | |||
95,200 | Komatsu Ltd. | 1,994,882 | 0 .4 | |||
72,400 | Mabuchi Motor Co., Ltd. | 3,068,082 | 0 .6 | |||
49,500 | Makita Corp. | 1,959,745 | 0 .4 | |||
391,500 | Mitsubishi UFJ Financial Group, Inc. | 1,771,134 | 0 .4 | |||
158,800 | Mitsui Sumitomo Insurance Group Holdings, Inc. | 2,693,057 | 0 .6 | |||
14,200 | Nintendo Co., Ltd. | 1,833,215 | 0 .4 | |||
87,700 | Nippon Telegraph & Telephone Corp. | 4,010,357 | 0 .8 | |||
343,900 | Nissan Motor Co., Ltd. | 2,876,160 | 0 .6 | |||
83,000 | NKSJ Holdings, Inc. | 1,513,052 | 0 .3 | |||
2,024 | NTT DoCoMo, Inc. | 2,932,831 | 0 .6 | |||
160,600 | Omron Corp. | 3,201,767 | 0 .7 | |||
31,600 | Ono Pharmaceutical Co., Ltd. | 1,907,980 | 0 .4 | |||
26,460 | ORIX Corp. | 2,717,706 | 0 .6 | |||
43,500 | Rohm Co., Ltd. | 1,404,888 | 0 .3 | |||
36,900 | Sankyo Co., Ltd. | 1,671,803 | 0 .3 | |||
45,600 | Secom Co., Ltd. | 2,322,595 | 0 .5 | |||
44,500 | Sega Sammy Holdings, Inc. | 838,755 | 0 .2 | |||
188,200 | Seven & I Holdings Co., Ltd. | 5,803,978 | 1 .2 | |||
147,200 | Shiseido Co., Ltd. | 1,862,859 | 0 .4 | |||
83,000 | Sony Corp. | 982,753 | 0 .2 | |||
191,500 | Sumitomo Mitsui Financial Group, Inc. | 5,851,666 | 1 .2 | |||
12,400 | Taisho Pharmaceutical Holdings Co. Ltd. | 1,001,434 | 0 .2 | |||
31,200 | TDK Corp. | 1,173,243 | 0 .2 | |||
229,600 | Tokio Marine Holdings, Inc. | 6,077,542 | 1 .3 | |||
60,900 | Tokyo Electron Ltd. | 2,742,349 | 0 .6 | |||
59,100 | Toyota Motor Corp. | 2,278,728 | 0 .5 | |||
107,782,189 | 22 .3 | |||||
Mexico: 0.7% | ||||||
85,900 | America Movil SAB de CV ADR | 2,172,411 | 0 .5 | |||
133,244 | @ | Cemex SAB de CV ADR | 1,204,526 | 0 .2 | ||
3,376,937 | 0 .7 | |||||
Netherlands: 7.6% | ||||||
503,627 | Aegon NV | 2,816,597 | 0 .6 | |||
29,745 | Akzo Nobel NV | 1,618,956 | 0 .3 | |||
56,949 | European Aeronautic Defence and Space Co. NV | 2,026,801 | 0 .4 | |||
320,912 | Koninklijke Ahold NV | 4,086,649 | 0 .9 | |||
237,745 | Royal Dutch Shell PLC - Class A | 8,157,746 | 1 .7 | |||
100,506 | Royal Dutch Shell PLC - Class B | 3,555,169 | 0 .7 | |||
141,615 | Koninklijke Philips Electronics NV | 3,546,878 | 0 .7 | |||
163,715 | Unilever NV | 6,017,252 | 1 .3 | |||
253,352 | Wolters Kluwer NV | 4,901,618 | 1 .0 | |||
36,727,666 | 7 .6 | |||||
Norway: 0.6% | ||||||
114,994 | Statoil ASA | 2,832,182 | 0 .6 | |||
Russia: 0.4% | ||||||
35,900 | Lukoil OAO ADR | 2,170,155 | 0 .4 | |||
Singapore: 1.5% | ||||||
286,000 | Oversea-Chinese Banking Corp. | 2,125,657 | 0 .5 | |||
940,100 | Singapore Telecommunications Ltd. | 2,476,237 | 0 .5 | |||
164,500 | United Overseas Bank Ltd. | 2,453,152 | 0 .5 | |||
7,055,046 | 1 .5 | |||||
South Africa: 0.7% | ||||||
161,957 | Gold Fields Ltd. | 2,012,158 | 0 .4 | |||
72,300 | Impala Platinum Holdings Ltd. | 1,303,526 | 0 .3 | |||
3,315,684 | 0 .7 | |||||
South Korea: 1.1% | ||||||
214,200 | KT Corp. ADR | 3,630,690 | 0 .7 | |||
6,047 | Posco | 1,900,902 | 0 .4 | |||
5,531,592 | 1 .1 | |||||
Spain: 1.4% | ||||||
463,636 | Banco Popular Espanol S.A. | 725,023 | 0 .1 | |||
129,829 | Gas Natural SDG S.A. | 2,017,101 | 0 .4 | |||
288,085 | Indra Sistemas S.A. | 3,296,250 | 0 .7 | |||
74,338 | Telefonica S.A. | 981,167 | 0 .2 | |||
7,019,541 | 1 .4 | |||||
Sweden: 1.3% | ||||||
701,637 | Telefonaktiebolaget LM Ericsson | 6,215,857 | 1 .3 | |||
Switzerland: 5.3% | ||||||
1,555 | Givaudan | 1,555,448 | 0 .3 | |||
54,959 | Nestle S.A. | 3,489,250 | 0 .7 | |||
119,894 | Novartis AG | 7,229,677 | 1 .5 | |||
34,638 | Roche Holding AG - Genusschein | 6,672,152 | 1 .4 | |||
223,300 | @ | STMicroelectronics NV | 1,315,178 | 0 .3 | ||
44,610 | Swiss Re Ltd. | 3,086,894 | 0 .6 | |||
149,300 | UBS AG - Reg | 2,240,036 | 0 .5 | |||
25,588,635 | 5 .3 | |||||
United Kingdom: 20.3% | ||||||
126,530 | AstraZeneca PLC | 5,867,846 | 1 .2 | |||
684,412 | BAE Systems PLC | 3,454,428 | 0 .7 | |||
1,687,199 | Barclays PLC | 6,238,863 | 1 .3 | |||
182,725 | BHP Billiton PLC | 5,856,610 | 1 .2 | |||
873,081 | BP PLC | 6,235,247 | 1 .3 | |||
55,500 | BP PLC ADR | 2,380,395 | 0 .5 | |||
173,847 | @ | CRH PLC | 3,243,097 | 0 .7 | ||
27,200 | @ | Ensco PLC | 1,572,704 | 0 .3 | ||
356,097 | GlaxoSmithKline PLC | 7,979,292 | 1 .7 | |||
1,581,120 | Home Retail Group | 2,919,049 | 0 .6 | |||
610,181 | HSBC Holdings PLC | 6,015,997 | 1 .3 | |||
55,647 | Imperial Tobacco Group PLC | 2,104,554 | 0 .4 | |||
1,159,934 | ITV PLC | 1,623,936 | 0 .3 | |||
270,300 | J Sainsbury PLC | 1,549,809 | 0 .3 | |||
337,500 | Kingfisher PLC | 1,580,191 | 0 .3 | |||
1,213,522 | Legal & General Group PLC | 2,630,599 | 0 .6 | |||
6,903,804 | @ | Lloyds TSB Group PLC | 4,546,214 | 1 .0 | ||
ING INTERNATIONAL VALUE FUND | SUMMARY PORTFOLIO OF INVESTMENTS |
AS OF OCTOBER 31, 2012 (CONTINUED) |
Shares | Value | Percentage of Net Assets | ||||
COMMON STOCK: (continued) | ||||||
United Kingdom: (continued) | ||||||
404,551 | Marks & Spencer Group PLC | 2,574,827 | 0 .5 | |||
284,183 | Prudential PLC | 3,902,886 | 0 .8 | |||
98,889 | Rio Tinto PLC | 4,940,179 | 1 .0 | |||
51,800 | Signet Jewelers Ltd. | 2,681,168 | 0 .6 | |||
1,297,273 | Tesco PLC | 6,712,705 | 1 .4 | |||
2,558,755 | Vodafone Group PLC | 6,948,700 | 1 .4 | |||
515,231 | WM Morrison Supermarkets PLC | 2,230,840 | 0 .5 | |||
154,927 | WPP PLC | 2,002,490 | 0 .4 | |||
97,792,626 | 20 .3 | |||||
United States: 2.5% | ||||||
84,700 | Coca-Cola Enterprises, Inc. | 2,662,968 | 0 .6 | |||
65,700 | Newmont Mining Corp. | 3,583,935 | 0 .7 | |||
55,000 | @ | Rowan Companies PLC | 1,744,050 | 0 .4 | ||
36,200 | @ | Seagate Technology | 988,984 | 0 .2 | ||
94,634 | @ | TE Connectivity Ltd. | 3,045,322 | 0 .6 | ||
12,025,259 | 2 .5 | |||||
Total Common Stock | ||||||
(Cost $509,403,588) | 474,707,805 | 98 .4 | ||||
RIGHTS: 0.0% | ||||||
Bermuda: 0.0% | ||||||
255,000 | @ | Esprit Holdings Ltd. | 68,849 | 0 .0 | ||
Total Rights | ||||||
(Cost $–) | 68,849 | 0 .0 | ||||
Total Long-Term Investments | ||||||
(Cost $509,403,588) | 474,776,654 | 98 .4 | ||||
Principal Amount† | Value | Percentage of Net Assets | ||||
SHORT-TERM INVESTMENTS: 1.6% | ||||||
Securities Lending Collateralcc(1): 0.2% | ||||||
700,066 | Daiwa Capital Markets, Repurchase Agreement dated 10/31/12, 0.38%, due 11/01/12 (Repurchase Amount $700,073, collateralized by various U.S. Government and U.S. Government Agency Obligations, 0.000%-6.500%, Market Value plus accrued interest $714,067, due 01/15/14-11/01/42) | |||||
(Cost $700,066) | 700,066 | 0 .2 | ||||
Shares | Value | Percentage of Net Assets | ||||
Mutual Funds: 1.4% | ||||||
6,924,432 | BlackRock Liquidity Funds, TempFund, Institutional Class | |||||
(Cost $6,924,432) | 6,924,432 | 1 .4 | ||||
Total Short-Term Investments | ||||||
(Cost $7,624,498) | 7,624,498 | 1 .6 | ||||
Total Investments in Securities (Cost $517,028,086) | $ 482,401,152 | 100 .0 | ||||
Assets in Excess of Other Liabilities | 182,401 | – | ||||
Net Assets | $ 482,583,553 | 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 Depositary 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, 2012. |
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 $528,336,347. | ||
Net unrealized depreciation consists of: | ||
Gross Unrealized Appreciation | $41,599,796 | |
Gross Unrealized Depreciation | (87,534,991) | |
Net Unrealized Depreciation | $(45,935,195) | |
Sector Diversification | Percentage of Net Assets | ||
Financials | 20 .1 | % | |
Energy | 10 .7 | ||
Health Care | 10 .1 | ||
Consumer Staples | 9 .9 | ||
Materials | 9 .2 | ||
Telecommunication Services | 9 .2 | ||
Information Technology | 8 .7 | ||
Industrials | 8 .6 | ||
Consumer Discretionary | 8 .4 | ||
Utilities | 3 .5 | ||
Short-Term Investments | 1 .6 | ||
Assets in Excess of Other Liabilities | – | ||
Net Assets | 100 .0 | % | |
(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 |