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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
FORM N-CSR
CERTIFIED SHAREHOLDER REPORT OF REGISTERED MANAGEMENT INVESTMENT COMPANIES
Investment Company Act file number: 811-7978
ING Mayflower Trust
7337 E. Doubletree Ranch Rd., Scottsdale, AZ 85258
(Address of principal executive offices) (Zip code)
CT Corporation System, 101 Federal Street, Boston, MA 02110
(Name and address of agent for service)
Registrant’s telephone number, including area code: 1-800-992-0180
Date of fiscal year end: October 31
Date of reporting period: November 1, 2012 to April 30, 2013
Item 1. Reports to Stockholders.
The following is a copy of the report transmitted to stockholders pursuant to Rule 30e-1 under the Act (17 CFR 270.30e-1):
![](https://capedge.com/proxy/N-CSRS/0001145443-13-001461/ing-covermap.jpg)
n ING Diversified International Fund
n ING Global Bond Fund
n ING Global Perspectives Fund
n ING International Small Cap Fund
n ING International Value Choice Fund
n ING International Value Equity Fund
(formerly, ING Global Value Choice Fund)
n ING International Value Fund
n ING Russia Fund
![](https://capedge.com/proxy/N-CSRS/0001145443-13-001461/ing-edeliverylogo.jpg)
This report is submitted for general information to shareholders of the ING Funds. It is not authorized for distribution to prospective shareholders unless accompanied or preceded by a prospectus which includes details regarding the funds’ investment objectives, risks, charges, expenses and other information. This information should be read carefully. |
MUTUAL FUNDS | ![]() |
President’s Letter | 2 | |||||
Market Perspective | 3 | |||||
Portfolio Managers’ Reports | 6 | |||||
Shareholder Expense Examples | 15 | |||||
Statements of Assets and Liabilities | 17 | |||||
Statements of Operations | 23 | |||||
Statements of Changes in Net Assets | 26 | |||||
Financial Highlights | 31 | |||||
Notes to Financial Statements | 38 | |||||
Summary Portfolios of Investments | 58 | |||||
Shareholder Meeting Information | 93 | |||||
Advisory Contract Approval Discussion | 94 |
![]() | Go Paperless with E-Delivery! | ![]() | |||||||||
Sign up now for on-line prospectuses, fund reports, and proxy statements. In less than five minutes, you can help reduce paper mail and lower fund costs. | |||||||||||
Just go to www.inginvestment.com, click on the E-Delivery icon from the home page, follow the directions and complete the quick 5 Steps to Enroll. | |||||||||||
You will be notified by e-mail when these communications become available on the internet. Documents that are not available on the internet will continue to be sent by mail. |
![](https://capedge.com/proxy/N-CSRS/0001145443-13-001461/shaunmathews_8410.jpg)
Financial Literacy
![](https://capedge.com/proxy/N-CSRS/0001145443-13-001461/ing-shaunmathewssig.jpg)
President and Chief Executive Officer
ING Funds
May 1, 2013
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 Global Aggregate Index | Provides a broad-based measure of the global investment-grade fixed-rate debt markets. | |||||
Barclays 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 U.S. Aggregate Bond Index | An unmanaged index of publicly issued investment grade U.S. Government, mortgage-backed, asset-backed and corporate debt securities. | |||||
JP Morgan Corporate Emerging Markets Bond Index Diversified | A liquid global benchmark for US-dollar corporate emerging market bonds. The CEMBI DIVERSIFIED limits the weights of those index countries with larger corporate debt stocks by only including a specified portion of these countries’ eligible current face amounts of debt outstanding. The CEMBI Diversified results in well-distributed, balanced weightings for countries included in the index. | |||||
JP Morgan Emerging Markets Bond Index Global Diversified | Tracks total returns for US dollar-denominated debt instruments issued by emerging market sovereign and quasi-sovereign entities: Brady bonds, loans, and Eurobonds. It limits the weights of those index countries with larger debt stocks by only including specified portions of these countries’ eligible current face amounts of debt outstanding. | |||||
JP Morgan Government Bond Index — Emerging Markets Global Diversified | A comprehensive, global local Emerging Markets index, and consists of regularly traded, liquid fixed-rate, domestic currency government bonds to which international investors can gain exposure. Weights of those countries in the index with larger debt stocks by only including specified portions of these countries’ eligible current face amounts of debt outstanding. | |||||
MSCI All Country World IndexSM | A free float-adjusted market capitalization index that is designed to measure equity market performance in 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 EAFE Small Cap Index | An equity index which captures small cap representation across Developed Markets countries* around the world, excluding the US and Canada. With 2,158 constituents, the index covers approximately 14% of the free float-adjusted market capitalization in each country. | |||||
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. |
Index | Description | |||||
---|---|---|---|---|---|---|
Russia Trading System Index | A capitalization-weighted index that is calculated in U.S. dollars. The index tracks the performance of Russia’s most active stocks traded on the RTS. The index is operated by the National Association of Participants in the Securities Markets, a non-profit body. | |||||
S&P 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/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. | |||||
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 Target Risk Growth Index | Seeks to provide increased exposure to equities, while also using some fixed-income exposure to dampen risk. |
ING DIVERSIFIED EMERGING MARKETS DEBT FUND | PORTFOLIO MANAGERS’ REPORT |
Target Allocations as of April 30, 2013 (percent of net assets) | ||||||||||
Hard Currency | 40 | % | ||||||||
Local Currency | 40 | % | ||||||||
Corporates | 20 | % | ||||||||
Portfolio holdings are subject to change daily. The fund can deviate from these targets based on an assessment of the current market conditions or other factors. |
* | Effective March 22, 2013, Jennifer Gorgoll was removed as a portfolio manager of the Fund. Effective June 10, 2013, Marcelo Assalin was removed as a portfolio manager of the Fund and Matthew Toms and Brian Timberlake were added as portfolio managers of the Fund. |
PORTFOLIO MANAGERS’ REPORT | ING DIVERSIFIED INTERNATIONAL FUND |
Target Allocations as of April 30, 2013 (as a percentage 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. |
ING GLOBAL BOND FUND | PORTFOLIO MANAGERS’ REPORT |
Geographic Diversification as of April 30, 2013 (as a percentage of net assets) | ||||||||
United States | 44.7 | % | ||||||
Brazil | 8.2 | % | ||||||
Russia | 5.9 | % | ||||||
Netherlands | 4.8 | % | ||||||
Cayman Islands | 4.8 | % | ||||||
Germany | 3.6 | % | ||||||
United Kingdom | 2.7 | % | ||||||
Malaysia | 2.1 | % | ||||||
South Africa | 1.9 | % | ||||||
Peru | 1.8 | % | ||||||
Countries between 0.0%–1.4%ˆ | 18.6 | % | ||||||
Assets in Excess of Other Liabilities* | 0.9 | % | ||||||
Net Assets | 100.0 | % | ||||||
* | Includes short-term investments and purchased options. | |||||||
ˆ | Includes 56 countries, which each represents 0.0%–1.4% of net assets. | |||||||
Portfolio holdings are subject to change daily. |
Top Ten Holdings as of April 30, 2013 (as a percentage of net assets) |
* | Effective May 31, 2013, Robert Robis was removed as a portfolio manager of the Fund and Brian Timberlake was added as a portfolio manager of the Fund. |
PORTFOLIO MANAGERS’ REPORT | ING GLOBAL PERSPECTIVES FUND |
Target Allocations as of April 30, 2013 (percent of net assets) | ||||||||||
U.S. Large Cap Equities | 10 | % | ||||||||
U.S. Mid Cap Equities | 10 | % | ||||||||
U.S. Small Cap Equities | 10 | % | ||||||||
Global Real Estate | 10 | % | ||||||||
International Equities | 10 | % | ||||||||
Emerging Market Equities | 10 | % | ||||||||
U.S. Investment Grade Bonds | 10 | % | ||||||||
U.S. Government Bonds | 10 | % | ||||||||
Global Bonds | 10 | % | ||||||||
U.S. High Yield Bonds | 10 | % | ||||||||
Portfolio holdings are subject to change daily. |
ING INTERNATIONAL SMALL CAP FUND | PORTFOLIO MANAGERS’ REPORT |
Geographic Diversification as of April 30, 2013 (as a percentage of net assets) | ||||||||
Japan | 29.5 | % | ||||||
United Kingdom | 14.5 | % | ||||||
Germany | 8.5 | % | ||||||
France | 5.7 | % | ||||||
Italy | 4.5 | % | ||||||
Australia | 4.3 | % | ||||||
Canada | 4.2 | % | ||||||
Switzerland | 3.0 | % | ||||||
South Korea | 2.2 | % | ||||||
Hong Kong | 2.2 | % | ||||||
Countries between 0.0%–1.9%ˆ | 16.9 | % | ||||||
Assets in Excess of Other Liabilities* | 4.5 | % | ||||||
Net Assets | 100.0 | % | ||||||
* | Includes short-term investments. | |||||||
ˆ | Includes 36 countries, which each represents 0.0%–1.9% of net assets. | |||||||
Portfolio holdings are subject to change daily. |
Top Ten Holdings as of April 30, 2013 (as a percentage of net assets) | |||||||
Nikkiso Co., Ltd. | 1.1 | % | |||||
Shionogi & Co., Ltd. | 1.1 | % | |||||
Draegerwerk AG & Co. KGaA | 0.9 | % | |||||
Safilo Group SpA | 0.9 | % | |||||
Deutsche Lufthansa AG | 0.9 | % | |||||
Kanematsu Corp. | 0.8 | % | |||||
Thanachart Capital PCL | 0.8 | % | |||||
Yuasa Trading Co., Ltd. | 0.8 | % | |||||
MTU Aero Engines Holding AG | 0.8 | % | |||||
Babcock International Group | 0.8 | % | |||||
Portfolio holdings are subject to change daily. |
* | On March 7, 2013, the Fund’s Board of Trustees (“Board”) approved replacing Schroder Investment Management North America Inc. (“Schroder”) as a sub-adviser to the Fund with Wellington Management Company, LLP (“Wellington Management”) effective beginning April 30, 2013. Prior to April 14, 2013, Schroder was one of the Sub-Advisers to the Fund. From the close of business on April 14, 2013 through the close of business on April 29, 2013, the Fund used a transition manager for the portion of the Fund’s assets managed by Schroder. |
PORTFOLIO MANAGERS’ REPORT | ING INTERNATIONAL VALUE CHOICE FUND |
Geographic Diversification as of April 30, 2013 (as a percentage of net assets) | ||||||||
Japan | 21.2 | % | ||||||
United Kingdom | 15.0 | % | ||||||
France | 12.7 | % | ||||||
Switzerland | 9.0 | % | ||||||
Netherlands | 8.6 | % | ||||||
Germany | 7.0 | % | ||||||
Italy | 4.3 | % | ||||||
Hong Kong | 4.3 | % | ||||||
Spain | 3.0 | % | ||||||
United States | 2.5 | % | ||||||
Countries between 0.3%–2.1%ˆ | 12.1 | % | ||||||
Assets in Excess of Other Liabilities* | 0.3 | % | ||||||
Net Assets | 100.0 | % | ||||||
* | Includes short-term investments. | |||||||
ˆ | Includes 10 countries, which each represents 0.3%–2.1% of net assets. | |||||||
Portfolio holdings are subject to change daily. |
Top Ten Holdings as of April 30, 2013 (as a percentage of net assets) | |||||||
Royal Dutch Shell PLC — Class A | 3.1 | % | |||||
Roche Holding AG — Genusschein | 3.1 | % | |||||
Novartis AG | 2.7 | % | |||||
Vodafone Group PLC | 2.5 | % | |||||
Sumitomo Mitsui Financial Group, Inc. | 2.3 | % | |||||
Siemens AG | 2.1 | % | |||||
Nestle S.A. | 2.0 | % | |||||
Sanofi | 2.0 | % | |||||
Barclays PLC | 1.9 | % | |||||
Tokio Marine Holdings, Inc. | 1.7 | % | |||||
Portfolio holdings are subject to change daily. |
* | On September 6, 2012, the Fund’s Board of Trustees approved a change 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 International Value Equity Fund. Prior to November 13, 2012, the Fund was managed by Tradewinds Global Investors, LLC. From the close of business on November 13, 2012 through the close of business on November 30, 2012, the Fund was managed by a transition manager in preparation for a sub-adviser change. Effective November 30, 2012, the Fund is managed by ING Investment Management Co. LLC. Shareholders have approved the merger of the Fund with and into ING International Value Equity Fund. The merger is expected to take place on or about July 13, 2013. |
ING INTERNATIONAL VALUE EQUITY FUND | PORTFOLIO MANAGERS’ REPORT |
Geographic Diversification as of April 30, 2013 (as a percentage of net assets) | ||||||||
Japan | 21.3 | % | ||||||
United Kingdom | 14.8 | % | ||||||
France | 12.8 | % | ||||||
Switzerland | 8.9 | % | ||||||
Netherlands | 8.5 | % | ||||||
Germany | 6.9 | % | ||||||
Italy | 4.4 | % | ||||||
Hong Kong | 4.4 | % | ||||||
Spain | 2.9 | % | ||||||
United States | 2.5 | % | ||||||
Countries between 0.1%–2.1%ˆ | 12.1 | % | ||||||
Assets in Excess of Other Liabilities* | 0.5 | % | ||||||
Net Assets | 100.0 | % | ||||||
* | Includes short-term investments. | |||||||
ˆ | Includes 11 countries, which each represents 0.1%–2.1% of net assets. | |||||||
Portfolio holdings are subject to change daily. |
Top Ten Holdings as of April 30, 2013 (as a percentage of net assets) | |||||||
Roche Holding AG — Genusschein | 3.1 | % | |||||
Royal Dutch Shell PLC — Class A | 3.1 | % | |||||
Novartis AG | 2.6 | % | |||||
Vodafone Group PLC | 2.5 | % | |||||
Sumitomo Mitsui Financial Group, Inc. | 2.2 | % | |||||
Siemens AG | 2.1 | % | |||||
Sanofi | 2.0 | % | |||||
Nestle S.A. | 2.0 | % | |||||
Barclays PLC | 1.9 | % | |||||
Tokio Marine Holdings, Inc. | 1.7 | % | |||||
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, principal investment strategies and benchmark. The Fund was renamed ING International Value Equity Fund. Prior to November 13, 2012, the Fund was managed by Tradewinds Global Investors, LLC. From the close of business on November 13, 2012 through the close of business on November 30, 2012, the Fund was managed by a transition manager in preparation for a sub-adviser change. Effective November 30, 2012, the Fund is managed by ING Investment Management Co. LLC. |
PORTFOLIO MANAGERS’ REPORT | ING INTERNATIONAL VALUE FUND |
Geographic Diversification as of April 30, 2013 (as a percentage of net assets) | ||||||||
Japan | 21.3 | % | ||||||
United Kingdom | 14.7 | % | ||||||
France | 12.0 | % | ||||||
Switzerland | 8.9 | % | ||||||
Netherlands | 8.4 | % | ||||||
Germany | 6.9 | % | ||||||
Italy | 4.3 | % | ||||||
Hong Kong | 4.1 | % | ||||||
Spain | 2.9 | % | ||||||
United States | 2.4 | % | ||||||
Countries between 0.3%–2.1%ˆ | 11.7 | % | ||||||
Assets in Excess of Other Liabilities* | 2.4 | % | ||||||
Net Assets | 100.0 | % | ||||||
* | Includes short-term investments. | |||||||
ˆ | Includes 10 countries, which each represents 0.3%–2.1% of net assets. | |||||||
Portfolio holdings are subject to change daily. |
Top Ten Holdings as of April 30, 2013 (as a percentage of net assets) | ||||||
Roche Holding AG — Genusschein | 3.1 | % | ||||
Royal Dutch Shell PLC — Class A | 3.0 | % | ||||
Novartis AG | 2.7 | % | ||||
Vodafone Group PLC | 2.5 | % | ||||
Sumitomo Mitsui Financial Group, Inc. | 2.3 | % | ||||
Siemens AG | 2.1 | % | ||||
Nestle S.A. | 1.9 | % | ||||
Sanofi | 1.9 | % | ||||
Barclays PLC | 1.9 | % | ||||
Tokio Marine Holdings, Inc. | 1.7 | % | ||||
Portfolio holdings are subject to change daily. |
* | On January 10, 2013, the Fund’s Board of Trustees approved the removal of Brandes Investment Partners, L.P. (“Brandes”) and del Rey Global Investors, LLC, (“del Rey”) as sub-advisers to portions of the Fund (each a “Sleeve”) effective on the close of business on March 26, 2013. Brandes and del Rey each previously managed approximately 25% of the Fund’s assets, respectively, and approximately 50% of the Fund’s assets were managed by (“ING IM”). From the close of business on March 26, 2013 through the close of business on April 10, 2013, the Fund was managed by a transition manager. Effective on or about April 11, 2013, ING IM is the sole sub-adviser managing all of the Fund’s assets. In addition, the Fund’s Board approved a proposal to reorganize the Fund with and into ING International Value Equity Fund (the “Reorganization”), subject to shareholder approval. A shareholder meeting is scheduled to be held on or about June 25, 2013. If shareholder approval of the proposal is obtained, the Reorganization of the Fund with and into International Value Equity Fund is expected to take place on or about July 13, 2013. |
ING RUSSIA FUND | PORTFOLIO MANAGERS’ REPORT |
Sector Diversification as of April 30, 2013 (as a percentage of net assets) | ||||||||
Energy | 39.1 | % | ||||||
Financials | 17.6 | % | ||||||
Materials | 14.4 | % | ||||||
Telecommunication Services | 13.2 | % | ||||||
Consumer Staples | 9.2 | % | ||||||
Utilities | 2.7 | % | ||||||
Information Technology | 1.3 | % | ||||||
Health Care | 1.0 | % | ||||||
Consumer Discretionary | 0.5 | % | ||||||
Assets in Excess of Other Liabilities* | 1.0 | % | ||||||
Net Assets | 100.0 | % | ||||||
* | Includes short-term investments. | |||||||
Portfolio holdings are subject to change daily. |
Top Ten Holdings as of April 30, 2013 (as a percentage of net assets) | |||||||
Lukoil OAO ADR | 11.3 | % | |||||
Sberbank | 8.4 | % | |||||
Mobile Telesystems OJSC ADR | 8.1 | % | |||||
Magnit OAO | 6.3 | % | |||||
Gazprom OAO | 4.5 | % | |||||
NovaTek OAO GDR | 4.5 | % | |||||
Transneft | 4.5 | % | |||||
Surgutneftegas OJSC | 3.6 | % | |||||
Tatneft ADR | 3.6 | % | |||||
Rosneft Oil Co. GDR | 3.5 | % | |||||
Portfolio holdings are subject to change daily. |
Actual Fund Return | | Hypothetical (5% return before expenses) | | ||||||||||||||||||||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Beginning Account Value November 1, 2012 | Ending Account Value April 30, 2013 | Annualized Expense Ratio | Expenses Paid During the Period Ended April 30, 2013* | Beginning Account Value November 1, 2012 | Ending Account Value April 30, 2013 | Annualized Expense Ratio | Expenses Paid During the Period Ended April 30, 2013* | ||||||||||||||||||||||||||||
ING Diversified Emerging Market Debt Fund** | |||||||||||||||||||||||||||||||||||
Class A(1) | $ | 1,000.00 | $ | 1,045.60 | 1.11 | % | $ | 5.60 | $ | 1,000.00 | $ | 1,019.29 | 1.11 | % | $ | 5.56 | |||||||||||||||||||
Class C(1) | 1,000.00 | 1,041.40 | 1.86 | 9.36 | 1,000.00 | 1,015.57 | 1.86 | 9.30 | |||||||||||||||||||||||||||
Class I(1) | 1,000.00 | 1,048.10 | 0.81 | 4.09 | 1,000.00 | 1,020.78 | 0.81 | 4.06 | |||||||||||||||||||||||||||
Class W(1) | 1,000.00 | 1,046.00 | 0.86 | 4.34 | 1,000.00 | 1,020.53 | 0.86 | 4.31 | |||||||||||||||||||||||||||
ING Diversified International Fund** | |||||||||||||||||||||||||||||||||||
Class A | 1,000.00 | 1,122.20 | 0.50 | 2.63 | 1,000.00 | 1,022.32 | 0.50 | 2.51 | |||||||||||||||||||||||||||
Class B | 1,000.00 | 12,740.00 | 1.25 | 42.58 | 1,000.00 | 1,018.60 | 1.25 | 6.26 | |||||||||||||||||||||||||||
Class C | 1,000.00 | 12,690.00 | 1.25 | 42.43 | 1,000.00 | 1,018.60 | 1.25 | 6.26 | |||||||||||||||||||||||||||
Class I | 1,000.00 | 13,310.00 | 0.25 | 8.87 | 1,000.00 | 1,023.55 | 0.25 | 1.25 | |||||||||||||||||||||||||||
Class O | 1,000.00 | 13,220.00 | 0.50 | 17.63 | 1,000.00 | 1,022.32 | 0.50 | 2.51 | |||||||||||||||||||||||||||
Class R | 1,000.00 | 13,030.00 | 0.75 | 26.09 | 1,000.00 | 1,021.08 | 0.75 | 3.76 | |||||||||||||||||||||||||||
Class W | 1,000.00 | 13,290.00 | 0.25 | 8.86 | 1,000.00 | 1,023.55 | 0.25 | 1.25 |
* | Expenses are equal to each Fund’s respective annualized expense ratios multiplied by the average account value over the period, multiplied by 181/365 to reflect the most recent fiscal half-year. |
** | The annualized expense ratios do not include expenses of underlying funds. |
(1) | Commencement of operations was November 2, 2012. Expenses paid for the actual Fund’s return reflect the 180-day period ended April 30, 2013. |
Actual Fund Return | | Hypothetical (5% return before expenses) | | ||||||||||||||||||||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Beginning Account Value November 1, 2012 | Ending Account Value April 30, 2013 | Annualized Expense Ratio | Expenses Paid During the Period Ended April 30, 2013* | Beginning Account Value November 1, 2012 | Ending Account Value April 30, 2013 | Annualized Expense Ratio | Expenses Paid During the Period Ended April 30, 2013* | ||||||||||||||||||||||||||||
ING Global Bond Fund | |||||||||||||||||||||||||||||||||||
Class A | $ | 1,000.00 | $ | 1,011.50 | 0.90 | % | $ | 4.49 | $ | 1,000.00 | $ | 1,020.33 | 0.90 | % | $ | 4.51 | |||||||||||||||||||
Class B | 1,000.00 | 1,008.60 | 1.65 | 8.22 | 1,000.00 | 1,016.61 | 1.65 | 8.25 | |||||||||||||||||||||||||||
Class C | 1,000.00 | 1,007.80 | 1.65 | 8.21 | 1,000.00 | 1,016.61 | 1.65 | 8.25 | |||||||||||||||||||||||||||
Class I | 1,000.00 | 1,013.10 | 0.60 | 2.99 | 1,000.00 | 1,021.82 | 0.60 | 3.01 | |||||||||||||||||||||||||||
Class O | 1,000.00 | 1,011.80 | 0.90 | 4.49 | 1,000.00 | 1,020.33 | 0.90 | 4.51 | |||||||||||||||||||||||||||
Class R | 1,000.00 | 1,010.30 | 1.15 | 5.73 | 1,000.00 | 1,019.09 | 1.15 | 5.76 | |||||||||||||||||||||||||||
Class W | 1,000.00 | 1,013.00 | 0.65 | 3.24 | 1,000.00 | 1,021.57 | 0.65 | 3.26 | |||||||||||||||||||||||||||
ING Global Perspective Fund** | |||||||||||||||||||||||||||||||||||
Class A(2) | 1,000.00 | 1,020.00 | 0.40 | 0.38 | 1,000.00 | 1,022.81 | 0.40 | 2.01 | |||||||||||||||||||||||||||
Class C(2) | 1,000.00 | 1,019.00 | 1.15 | 1.08 | 1,000.00 | 1,019.09 | 1.15 | 5.76 | |||||||||||||||||||||||||||
Class I(2) | 1,000.00 | 1,017.00 | 0.11 | 0.10 | 1,000.00 | 1,024.25 | 0.11 | 0.55 | |||||||||||||||||||||||||||
Class R(2) | 1,000.00 | 1,017.00 | 0.65 | 0.61 | 1,000.00 | 1,021.57 | 0.65 | 3.26 | |||||||||||||||||||||||||||
Class W(2) | 1,000.00 | 1,018.00 | 0.15 | 0.14 | 1,000.00 | 1,024.05 | 0.15 | 0.75 | |||||||||||||||||||||||||||
ING International Small Cap Fund | |||||||||||||||||||||||||||||||||||
Class A | 1,000.00 | 1,166.90 | 1.76 | 9.47 | 1,000.00 | 1,016.05 | 1.76 | 8.81 | |||||||||||||||||||||||||||
Class B | 1,000.00 | 1,162.90 | 2.41 | 12.92 | 1,000.00 | 1,012.84 | 2.41 | 12.03 | |||||||||||||||||||||||||||
Class C | 1,000.00 | 1,163.10 | 2.41 | 12.93 | 1,000.00 | 1,012.84 | 2.41 | 12.03 | |||||||||||||||||||||||||||
Class I | 1,000.00 | 1,169.30 | 1.29 | 6.94 | 1,000.00 | 1,018.40 | 1.29 | 6.46 | |||||||||||||||||||||||||||
Class O | 1,000.00 | 1,167.30 | 1.66 | 8.92 | 1,000.00 | 1,016.56 | 1.66 | 8.30 | |||||||||||||||||||||||||||
Class W | 1,000.00 | 1,168.80 | 1.41 | 7.58 | 1,000.00 | 1,017.80 | 1.41 | 7.05 | |||||||||||||||||||||||||||
ING International Value Choice Fund | |||||||||||||||||||||||||||||||||||
Class A | 1,000.00 | 1,113.10 | 1.39 | 7.28 | 1,000.00 | 1,017.90 | 1.39 | 6.95 | |||||||||||||||||||||||||||
Class B | 1,000.00 | 1,109.70 | 2.14 | 11.19 | 1,000.00 | 1,014.18 | 2.14 | 10.69 | |||||||||||||||||||||||||||
Class C | 1,000.00 | 1,109.40 | 2.14 | 11.19 | 1,000.00 | 1,014.18 | 2.14 | 10.69 | |||||||||||||||||||||||||||
Class I | 1,000.00 | 1,115.00 | 1.14 | 5.98 | 1,000.00 | 1,019.14 | 1.14 | 5.71 | |||||||||||||||||||||||||||
Class W | 1,000.00 | 1,115.10 | 1.14 | 5.98 | 1,000.00 | 1,019.14 | 1.14 | 5.71 | |||||||||||||||||||||||||||
ING International Value Equity Fund | |||||||||||||||||||||||||||||||||||
Class A | 1,000.00 | 1,099.10 | 1.38 | 7.18 | 1,000.00 | 1,017.95 | 1.38 | 6.90 | |||||||||||||||||||||||||||
Class B | 1,000.00 | 1,094.60 | 2.13 | 11.06 | 1,000.00 | 1,014.23 | 2.13 | 10.64 | |||||||||||||||||||||||||||
Class C | 1,000.00 | 1,094.40 | 2.13 | 11.06 | 1,000.00 | 1,014.23 | 2.13 | 10.64 | |||||||||||||||||||||||||||
Class I | 1,000.00 | 1,100.40 | 1.13 | 5.88 | 1,000.00 | 1,019.19 | 1.13 | 5.66 | |||||||||||||||||||||||||||
Class W | 1,000.00 | 1,100.40 | 1.13 | 5.88 | 1,000.00 | 1,019.19 | 1.13 | 5.66 | |||||||||||||||||||||||||||
ING International Value Fund | |||||||||||||||||||||||||||||||||||
Class A | 1,000.00 | 1,139.50 | 1.52 | 8.06 | 1,000.00 | 1,017.26 | 1.52 | 7.60 | |||||||||||||||||||||||||||
Class B | 1,000.00 | 1,135.90 | 2.22 | 11.76 | 1,000.00 | 1,013.79 | 2.22 | 11.08 | |||||||||||||||||||||||||||
Class C | 1,000.00 | 1,136.20 | 2.22 | 11.76 | 1,000.00 | 1,013.79 | 2.22 | 11.08 | |||||||||||||||||||||||||||
Class I | 1,000.00 | 1,143.20 | 1.10 | 5.85 | 1,000.00 | 1,019.34 | 1.10 | 5.51 | |||||||||||||||||||||||||||
Class W | 1,000.00 | 1,141.20 | 1.22 | 6.48 | 1,000.00 | 1,018.74 | 1.22 | 6.11 | |||||||||||||||||||||||||||
ING Russia Fund | |||||||||||||||||||||||||||||||||||
Class A | 1,000.00 | 1,013.70 | 2.00 | 9.99 | 1,000.00 | 1,014.88 | 2.00 | 9.99 | |||||||||||||||||||||||||||
Class I | 1,000.00 | 1,013.30 | 1.85 | 9.23 | 1,000.00 | 1,015.62 | 1.85 | 9.25 | |||||||||||||||||||||||||||
Class W | 1,000.00 | 1,015.00 | 1.75 | 8.74 | 1,000.00 | 1,016.12 | 1.75 | 8.75 |
* | Expenses are equal to each Fund’s respective annualized expense ratios multiplied by the average account value over the period, multiplied by 181/365 to reflect the most recent fiscal half-year. |
** | The annualized expense ratios do not include expenses of underlying funds. |
(2) | Commencement of operations was March 28, 2013. Expenses paid for the actual Fund’s return reflect the 34-day period ended April 30, 2013. |
ING Diversified Emerging Markets Debt Fund | ING Diversified International Fund | ING Global Bond Fund | ING Global Perspectives Fund | |||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
ASSETS: | ||||||||||||||||||
Investments in securities at fair value* | $ | — | $ | 4,038,504 | $ | 824,208,357 | $ | — | ||||||||||
Investments in affiliated underlying funds at fair value** | 914,418 | 87,241,010 | — | 204,481 | ||||||||||||||
Short-term investments at fair value*** | 47,000 | — | 16,984,031 | — | ||||||||||||||
Total Investments at fair value | 961,418 | 91,279,514 | 841,192,388 | 204,481 | ||||||||||||||
Cash | 847 | 196,051 | 1,093,497 | — | ||||||||||||||
Cash collateral for futures | — | — | 3,579,247 | — | ||||||||||||||
Foreign currencies at value**** | — | — | 23,850,366 | — | ||||||||||||||
Foreign cash collateral for futures***** | — | — | 180,147 | — | ||||||||||||||
Receivable for derivatives collateral (Note 2) | — | — | 8,802,000 | — | ||||||||||||||
Receivables: | ||||||||||||||||||
Investment in affiliated underlying funds sold | — | 870,226 | — | — | ||||||||||||||
Investment securities sold | — | — | 106,108,675 | — | ||||||||||||||
Investment securities sold on a delayed-delivery or when-issued basis | — | — | 9,793,537 | — | ||||||||||||||
Fund shares sold | — | 17,634 | 2,718,674 | 3,650 | ||||||||||||||
Dividends | 3 | — | 465 | 1 | ||||||||||||||
Interest | — | — | 8,341,730 | — | ||||||||||||||
Unrealized appreciation on forward foreign currency contracts | — | — | 8,915,977 | — | ||||||||||||||
Unrealized appreciation on OTC swap agreements | — | — | 31,460 | — | ||||||||||||||
Prepaid expenses | 5,560 | 45,297 | 53,767 | — | ||||||||||||||
Prepaid offering | 59,234 | — | — | 92,055 | ||||||||||||||
Reimbursement due from manager | 34,885 | 10,191 | 12,999 | 10,927 | ||||||||||||||
Total assets | 1,061,947 | 92,418,913 | 1,014,674,929 | 311,114 | ||||||||||||||
LIABILITIES: | ||||||||||||||||||
Payable for investments in affiliated underlying funds purchased | — | 712,618 | — | 3,650 | ||||||||||||||
Payable for investment securities purchased | — | — | 123,652,512 | — | ||||||||||||||
Payable for investment securities purchased on a delayed-delivery or when-issued basis | — | — | 40,100,451 | — | ||||||||||||||
Payable for fund shares redeemed | — | 233,564 | 4,201,323 | — | ||||||||||||||
Unrealized depreciation on forward foreign currency contracts | — | — | 10,543,938 | — | ||||||||||||||
Unrealized depreciation on OTC swap agreements | — | — | 5,541,797 | — | ||||||||||||||
Payable for derivatives collateral (Note 2) | — | — | 370,000 | — | ||||||||||||||
Payable for investment management fees | 598 | — | 271,861 | 11 | ||||||||||||||
Payable for administrative fees | 86 | 7,345 | 67,965 | 12 | ||||||||||||||
Payable for distribution and shareholder service fees | 4 | 37,501 | 130,529 | 36 | ||||||||||||||
Payable for trustee fees | 5 | 467 | 4,048 | 1 | ||||||||||||||
Other accrued expenses and liabilities | 10,989 | 172,493 | 146,173 | 102,975 | ||||||||||||||
Written options, at fair valueˆ | — | — | 822,734 | — | ||||||||||||||
Total liabilities | 11,682 | 1,163,988 | 185,853,331 | 106,685 | ||||||||||||||
NET ASSETS | $ | 1,050,265 | $ | 91,254,925 | $ | 828,821,598 | $ | 204,429 | ||||||||||
NET ASSETS WERE COMPRISED OF: | ||||||||||||||||||
Paid-in capital | $ | 1,011,062 | $ | 241,159,257 | $ | 823,018,735 | $ | 200,354 | ||||||||||
Undistributed (distributions in excess of) net investment income | 7,979 | (288,249 | ) | (6,358,850 | ) | 55 | ||||||||||||
Accumulated net realized gain (loss) | 8,109 | (162,745,696 | ) | (1,793,227 | ) | — | ||||||||||||
Net unrealized appreciation | 23,115 | 13,129,613 | 13,954,940 | 4,020 | ||||||||||||||
NET ASSETS | $ | 1,050,265 | $ | 91,254,925 | $ | 828,821,598 | $ | 204,429 | ||||||||||
________________ | ||||||||||||||||||
* Cost of investments in securities | $ | — | $ | 3,602,870 | $ | 804,750,794 | $ | — | ||||||||||
** Cost of investments in affiliated underlying funds | $ | 891,303 | $ | 74,547,031 | $ | — | $ | 200,461 | ||||||||||
*** Cost of short-term investments | $ | 47,000 | $ | — | $ | 16,878,280 | $ | — | ||||||||||
**** Cost of foreign currencies | $ | — | $ | — | $ | 23,778,070 | $ | — | ||||||||||
***** Cost of foreign cash collateral for futures | $ | — | $ | — | $ | 180,147 | $ | — | ||||||||||
ˆ Premiums received on written options | $ | — | $ | — | $ | 1,369,315 | $ | — |
ING Diversified Emerging Markets Debt Fund | ING Diversified International Fund | ING Global Bond Fund | ING Global Perspectives Fund | |||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Class A | ||||||||||||||||||
Net assets | $ | 5,256 | $ | 41,433,282 | $ | 198,697,218 | $ | 95,620 | ||||||||||
Shares authorized | unlimited | unlimited | unlimited | unlimited | ||||||||||||||
Par value | $ | — | $ | — | $ | — | $ | — | ||||||||||
Shares outstanding | 507 | 4,216,721 | 17,231,822 | 9,371 | ||||||||||||||
Net asset value and redemption price per share | $ | 10.37 | $ | 9.83 | $ | 11.53 | $ | 10.20 | ||||||||||
Maximum offering price per share (5.75%)(1) | $ | 11.00 | $ | 10.43 | $ | 11.83 | (2) | $ | 10.82 | |||||||||
Class B | ||||||||||||||||||
Net assets | n/a | $ | 7,588,214 | $ | 1,077,679 | n/a | ||||||||||||
Shares authorized | n/a | unlimited | unlimited | n/a | ||||||||||||||
Par value | n/a | $ | — | $ | — | n/a | ||||||||||||
Shares outstanding | n/a | 771,868 | 94,377 | n/a | ||||||||||||||
Net asset value and redemption price per share† | n/a | $ | 9.83 | $ | 11.42 | n/a | ||||||||||||
Class C | ||||||||||||||||||
Net assets | $ | 3,134 | $ | 27,239,192 | $ | 105,687,289 | $ | 34,357 | ||||||||||
Shares authorized | unlimited | unlimited | unlimited | unlimited | ||||||||||||||
Par value | $ | — | $ | — | $ | — | $ | — | ||||||||||
Shares outstanding | 303 | 2,775,289 | 9,221,225 | 3,371 | ||||||||||||||
Net asset value and redemption price per share† | $ | 10.34 | $ | 9.81 | $ | 11.46 | $ | 10.19 | ||||||||||
Class I | ||||||||||||||||||
Net assets | $ | 1,038,726 | $ | 9,126,059 | $ | 481,093,043 | $ | 20,462 | ||||||||||
Shares authorized | unlimited | unlimited | unlimited | unlimited | ||||||||||||||
Par value | $ | — | $ | — | $ | — | $ | — | ||||||||||
Shares outstanding | 99,973 | 932,564 | 41,861,407 | 2,011 | ||||||||||||||
Net asset value and redemption price per share | $ | 10.39 | $ | 9.79 | $ | 11.49 | $ | 10.17 | ||||||||||
Class O | ||||||||||||||||||
Net assets | n/a | $ | 5,279,219 | $ | 3,923,307 | n/a | ||||||||||||
Shares authorized | n/a | unlimited | unlimited | n/a | ||||||||||||||
Par value | n/a | $ | — | $ | — | n/a | ||||||||||||
Shares outstanding | n/a | 542,557 | 346,669 | n/a | ||||||||||||||
Net asset value and redemption price per share | n/a | $ | 9.73 | $ | 11.32 | n/a | ||||||||||||
Class R | ||||||||||||||||||
Net assets | n/a | $ | 104,517 | $ | 242,332 | $ | 20,454 | |||||||||||
Shares authorized | n/a | unlimited | unlimited | unlimited | ||||||||||||||
Par value | n/a | $ | — | $ | — | $ | — | |||||||||||
Shares outstanding | n/a | 10,770 | 21,048 | 2,011 | ||||||||||||||
Net asset value and redemption price per share | n/a | $ | 9.70 | $ | 11.51 | $ | 10.17 | |||||||||||
Class W | ||||||||||||||||||
Net assets | $ | 3,149 | $ | 484,442 | $ | 38,100,730 | $ | 33,536 | ||||||||||
Shares authorized | unlimited | unlimited | unlimited | unlimited | ||||||||||||||
Par value | $ | — | $ | — | $ | — | $ | — | ||||||||||
Shares outstanding | 304 | 49,638 | 3,368,182 | 3,295 | ||||||||||||||
Net asset value and redemption price per share | $ | 10.37 | $ | 9.76 | $ | 11.31 | $ | 10.18 |
________________
(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 Equity Fund | ING International Value Fund | |||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
ASSETS: | ||||||||||||||||||
Investments in securities at fair value+* | $ | 244,097,815 | $ | 14,524,250 | $ | 145,147,705 | $ | 333,231,066 | ||||||||||
Short-term investments at fair value** | 3,659,692 | 95,000 | 1,386,266 | 1,498,000 | ||||||||||||||
Total Investments at fair value | 247,757,507 | 14,619,250 | 146,533,971 | 334,729,066 | ||||||||||||||
Cash | 12,153,594 | 836 | 601 | 65,502,199 | ||||||||||||||
Foreign currencies at value*** | 452,257 | 7,760 | 77,661 | 3,104,172 | ||||||||||||||
Receivables: | ||||||||||||||||||
Investment securities sold | 1,190,645 | 224,624 | 2,089,456 | 102,413,135 | ||||||||||||||
Fund shares sold | 116,484 | 1,127 | 11,086 | 16,424 | ||||||||||||||
Dividends | 976,450 | 42,482 | 420,149 | 2,135,677 | ||||||||||||||
Interest | 2,247 | — | — | — | ||||||||||||||
Foreign tax reclaims | 282,266 | 25,965 | 108,470 | 1,969,288 | ||||||||||||||
Unrealized appreciation on forward foreign currency contracts | 652 | — | — | — | ||||||||||||||
Prepaid expenses | 41,550 | 6,615 | 34,140 | 44,556 | ||||||||||||||
Reimbursement due from manager | 7,946 | 2,107 | 22,067 | 41,341 | ||||||||||||||
Total assets | 262,981,598 | 14,930,766 | 149,297,601 | 509,955,858 | ||||||||||||||
LIABILITIES: | ||||||||||||||||||
Payable for investment securities purchased | 1,774,862 | 153,582 | 1,464,530 | 71,259,394 | ||||||||||||||
Payable for fund shares redeemed | 288,861 | 120,203 | 792,083 | 96,223,915 | ||||||||||||||
Payable upon receipt of securities loaned | 3,655,571 | — | 588,266 | — | ||||||||||||||
Payable for investment management fees | 200,840 | 10,644 | 106,488 | 345,821 | ||||||||||||||
Payable for administrative fees | 20,599 | 1,182 | 11,832 | 35,230 | ||||||||||||||
Payable for distribution and shareholder service fees | 42,979 | 4,211 | 52,128 | 119,513 | ||||||||||||||
Payable for trustee fees | 1,243 | 99 | 792 | 2,233 | ||||||||||||||
Payable for borrowings against line of credit | 1,010,000 | — | — | — | ||||||||||||||
Other accrued expenses and liabilities | 204,369 | 73,726 | 279,831 | 580,100 | ||||||||||||||
Total liabilities | 7,199,324 | 363,647 | 3,295,950 | 168,566,206 | ||||||||||||||
NET ASSETS | $ | 255,782,274 | $ | 14,567,119 | $ | 146,001,651 | $ | 341,389,652 | ||||||||||
NET ASSETS WERE COMPRISED OF: | ||||||||||||||||||
Paid-in capital | $ | 488,287,356 | $ | 32,347,843 | $ | 194,022,293 | $ | 1,285,042,161 | ||||||||||
Undistributed net investment income | 470,049 | 101,260 | 840,564 | 2,572,222 | ||||||||||||||
Accumulated net realized loss | (251,682,431 | ) | (20,054,652 | ) | (65,551,121 | ) | (992,663,313 | ) | ||||||||||
Net unrealized appreciation | 18,707,300 | 2,172,668 | 16,689,915 | 46,438,582 | ||||||||||||||
NET ASSETS | $ | 255,782,274 | $ | 14,567,119 | $ | 146,001,651 | $ | 341,389,652 | ||||||||||
________________ | ||||||||||||||||||
+ Including securities loaned at value | $ | 3,445,324 | $ | — | $ | 575,291 | $ | — | ||||||||||
* Cost of investments in securities | $ | 225,369,831 | $ | 12,350,672 | $ | 128,451,316 | $ | 286,666,054 | ||||||||||
** Cost of short-term investments | $ | 3,659,692 | $ | 95,000 | $ | 1,386,266 | $ | 1,498,000 | ||||||||||
*** Cost of foreign currencies | $ | 448,286 | $ | 7,760 | $ | 77,661 | $ | 3,103,996 |
ING International Small Cap Fund | ING International Value Choice Fund | ING International Value Equity Fund | ING International Value Fund | |||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Class A | ||||||||||||||||||
Net assets | $ | 86,273,566 | $ | 11,116,338 | $ | 68,347,968 | $ | 166,000,556 | ||||||||||
Shares authorized | unlimited | unlimited | unlimited | unlimited | ||||||||||||||
Par value | $ | — | $ | — | $ | — | $ | — | ||||||||||
Shares outstanding | 2,028,277 | 1,105,837 | 2,365,119 | 14,361,015 | ||||||||||||||
Net asset value and redemption price per share | $ | 42.54 | $ | 10.05 | $ | 28.90 | $ | 11.56 | ||||||||||
Maximum offering price per share (5.75%)(1) | $ | 45.14 | $ | 10.66 | $ | 30.66 | $ | 12.27 | ||||||||||
Class B | ||||||||||||||||||
Net assets | $ | 1,653,587 | $ | 330,432 | $ | 2,808,114 | $ | 572,777 | ||||||||||
Shares authorized | unlimited | unlimited | unlimited | unlimited | ||||||||||||||
Par value | $ | — | $ | — | $ | — | $ | — | ||||||||||
Shares outstanding | 36,677 | 33,045 | 90,242 | 48,775 | ||||||||||||||
Net asset value and redemption price per share† | $ | 45.08 | $ | 10.00 | $ | 31.12 | $ | 11.74 | ||||||||||
Class C | ||||||||||||||||||
Net assets | $ | 21,148,926 | $ | 2,068,412 | $ | 44,349,202 | $ | 98,521,976 | ||||||||||
Shares authorized | unlimited | unlimited | unlimited | unlimited | ||||||||||||||
Par value | $ | — | $ | — | $ | — | $ | — | ||||||||||
Shares outstanding | 533,838 | 207,190 | 1,642,324 | 8,784,147 | ||||||||||||||
Net asset value and redemption price per share† | $ | 39.62 | $ | 9.98 | $ | 27.00 | $ | 11.22 | ||||||||||
Class I | ||||||||||||||||||
Net assets | $ | 102,967,273 | $ | 984,668 | $ | 24,125,798 | $ | 76,153,499 | ||||||||||
Shares authorized | unlimited | unlimited | unlimited | unlimited | ||||||||||||||
Par value | $ | — | $ | — | $ | — | $ | — | ||||||||||
Shares outstanding | 2,421,443 | 97,655 | 827,419 | 6,620,884 | ||||||||||||||
Net asset value and redemption price per share | $ | 42.52 | $ | 10.08 | $ | 29.16 | $ | 11.50 | ||||||||||
Class O | ||||||||||||||||||
Net assets | $ | 2,104,343 | 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 | 49,960 | n/a | n/a | n/a | ||||||||||||||
Net asset value and redemption price per share | $ | 42.12 | n/a | n/a | n/a | |||||||||||||
Class W | ||||||||||||||||||
Net assets | $ | 41,634,579 | $ | 67,269 | $ | 6,370,569 | $ | 140,844 | ||||||||||
Shares authorized | unlimited | unlimited | unlimited | unlimited | ||||||||||||||
Par value | $ | — | $ | — | $ | — | $ | — | ||||||||||
Shares outstanding | 821,256 | 6,550 | 218,742 | 12,234 | ||||||||||||||
Net asset value and redemption price per share | $ | 50.70 | $ | 10.27 | $ | 29.12 | $ | 11.51 |
________________
(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 Russia Fund | ||||||
---|---|---|---|---|---|---|
ASSETS: | ||||||
Investments in securities at fair value+* | $ | 205,606,026 | ||||
Short-term investments at fair value** | 7,684,288 | |||||
Total Investments at fair value | 213,290,314 | |||||
Cash | 1,954,119 | |||||
Foreign currencies at value*** | 1,553 | |||||
Receivables: | ||||||
Investment securities sold | 173,111 | |||||
Fund shares sold | 46,324 | |||||
Dividends | 958,100 | |||||
Prepaid expenses | 19,246 | |||||
Total assets | 216,442,767 | |||||
LIABILITIES: | ||||||
Payable for investment securities purchased | 167,917 | |||||
Payable for fund shares redeemed | 360,216 | |||||
Payable upon receipt of securities loaned | 7,684,288 | |||||
Payable for investment management fees | 213,276 | |||||
Payable for administrative fees | 17,015 | |||||
Payable for distribution and shareholder service fees | 41,054 | |||||
Payable for trustee fees | 1,086 | |||||
Other accrued expenses and liabilities | 255,886 | |||||
Total liabilities | 8,740,738 | |||||
NET ASSETS | $ | 207,702,029 | ||||
NET ASSETS WERE COMPRISED OF: | ||||||
Paid-in capital | $ | 253,297,028 | ||||
Distributions in excess of net investment income | (974,634 | ) | ||||
Accumulated net realized loss | (94,679,515 | ) | ||||
Net unrealized appreciation | 50,059,150 | |||||
NET ASSETS | $ | 207,702,029 | ||||
________________ | ||||||
+ Including securities loaned at value | $ | 6,530,864 | ||||
* Cost of investments in securities | $ | 155,546,301 | ||||
** Cost of short-term investments | $ | 7,684,288 | ||||
*** Cost of foreign currencies | $ | 1,515 |
ING Russia Fund | |||||||
---|---|---|---|---|---|---|---|
Class A | |||||||
Net assets | $ | 199,883,482 | |||||
Shares authorized | unlimited | ||||||
Par value | $ | — | |||||
Shares outstanding | 6,315,307 | ||||||
Net asset value and redemption price per share | $ | 31.65 | |||||
Maximum offering price per share (5.75%)(1) | $ | 33.58 | |||||
Class I | |||||||
Net assets | $ | 7,731,473 | |||||
Shares authorized | unlimited | ||||||
Par value | $ | — | |||||
Shares outstanding | 242,112 | ||||||
Net asset value and redemption price per share | $ | 31.93 | |||||
Class W | |||||||
Net assets | $ | 87,074 | |||||
Shares authorized | unlimited | ||||||
Par value | $ | — | |||||
Shares outstanding | 2,736 | ||||||
Net asset value and redemption price per share | $ | 31.83 | |||||
________________ | |||||||
(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. |
ING Diversified Emerging Markets Debt Fund | ING Diversified International Fund | ING Global Bond Fund | ING Global Perspectives Fund | |||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
November 2, 2012(1) to April 30, 2013 | March 28, 2013(1) to April 30, 2013 | |||||||||||||||||
INVESTMENT INCOME: | ||||||||||||||||||
Dividends from affiliated underlying funds | $ | 20,988 | $ | 1,467,632 | $ | — | $ | 108 | ||||||||||
Dividends | — | — | 4,620 | — | ||||||||||||||
Interest, net of foreign taxes withheld* | — | — | 17,053,283 | — | ||||||||||||||
Total investment income | 20,988 | 1,467,632 | 17,057,903 | 108 | ||||||||||||||
EXPENSES: | ||||||||||||||||||
Investment management fees | 3,462 | — | 1,605,936 | 11 | ||||||||||||||
Distribution and shareholder service fees: | ||||||||||||||||||
Class A | 4 | 54,038 | 262,761 | 10 | ||||||||||||||
Class B | — | 38,238 | 6,466 | — | ||||||||||||||
Class C | 14 | 136,021 | 539,703 | 18 | ||||||||||||||
Class O | — | 5,493 | 4,986 | — | ||||||||||||||
Class R | — | 248 | 670 | 8 | ||||||||||||||
Transfer agent fees: | ||||||||||||||||||
Class A | 8 | 47,273 | 75,638 | 7 | ||||||||||||||
Class B | — | 8,447 | 461 | — | ||||||||||||||
Class C | 6 | 30,037 | 38,917 | 3 | ||||||||||||||
Class I | 147 | 6,782 | 51,244 | 2 | ||||||||||||||
Class O | — | 4,812 | 1,437 | — | ||||||||||||||
Class R | — | 110 | 97 | 2 | ||||||||||||||
Class W | 6 | 536 | 13,627 | 4 | ||||||||||||||
Administrative service fees | 495 | 46,297 | 401,481 | 12 | ||||||||||||||
Shareholder reporting expense | 177 | 33,348 | 45,920 | 551 | ||||||||||||||
Registration fees | 1,109 | 40,504 | 70,433 | — | ||||||||||||||
Professional fees | 354 | 7,138 | 35,396 | 1,334 | ||||||||||||||
Custody and accounting expense | 394 | 4,966 | 207,800 | 551 | ||||||||||||||
Trustee fees | 25 | 2,334 | 20,240 | 3 | ||||||||||||||
Offering expense | 55,766 | — | — | 7,945 | ||||||||||||||
Miscellaneous expense | 4 | 3,409 | 10,583 | 519 | ||||||||||||||
Interest expense | — | 24 | 3,304 | — | ||||||||||||||
Total expenses | 61,971 | 470,055 | 3,397,100 | 10,980 | ||||||||||||||
Net waived and reimbursed fees | (57,926 | ) | (120,006 | ) | (75,820 | ) | (10,927 | ) | ||||||||||
Net expenses | 4,045 | 350,049 | 3,321,280 | 53 | ||||||||||||||
Net investment income | 16,943 | 1,117,583 | 13,736,623 | 55 | ||||||||||||||
REALIZED AND UNREALIZED GAIN (LOSS): | ||||||||||||||||||
Net realized gain (loss) on: | ||||||||||||||||||
Investments | — | 184,390 | 13,330,623 | — | ||||||||||||||
Capital gain distributions from affiliated underlying funds | 1,952 | 192,712 | — | — | ||||||||||||||
Capital gain distributions from unaffiliated underlying funds | — | — | 59 | — | ||||||||||||||
Sale of affiliated underlying funds | 7,869 | 594,769 | — | — | ||||||||||||||
Foreign currency related transactions | (1,712 | ) | — | (9,402,658 | ) | — | ||||||||||||
Futures | — | — | (1,586,774 | ) | — | |||||||||||||
Swaps | — | — | (4,076,773 | ) | — | |||||||||||||
Written options | — | — | 1,045,228 | — | ||||||||||||||
Net realized gain (loss) | 8,109 | 971,871 | (690,295 | ) | — | |||||||||||||
Net change in unrealized appreciation (depreciation) on: | ||||||||||||||||||
Investments | — | — | (1,649,233 | ) | — | |||||||||||||
Affiliated underlying funds | 23,115 | 8,529,413 | — | 4,020 | ||||||||||||||
Foreign currency related transactions | — | — | (5,101,678 | ) | — | |||||||||||||
Futures | — | — | 1,139,374 | — | ||||||||||||||
Swaps | — | — | 2,968,383 | — | ||||||||||||||
Written options | — | — | (245,982 | ) | — | |||||||||||||
Net change in unrealized appreciation (depreciation) | 23,115 | 8,529,413 | (2,889,136 | ) | 4,020 | |||||||||||||
Net realized and unrealized gain (loss) | 31,224 | 9,501,284 | (3,579,431 | ) | 4,020 | |||||||||||||
Increase in net assets resulting from operations | $ | 48,167 | $ | 10,618,867 | $ | 10,157,192 | $ | 4,075 | ||||||||||
________________ | ||||||||||||||||||
* Foreign taxes withheld | $ | — | $ | — | $ | 18,591 | $ | — | ||||||||||
(1) Commencement of operations. |
ING International Small Cap Fund | ING International Value Choice Fund | ING International Value Equity Fund | ING International Value Fund | |||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
INVESTMENT INCOME: | ||||||||||||||||||
Dividends, net of foreign taxes withheld* | $ | 2,500,767 | $ | 252,678 | $ | 2,063,925 | $ | 6,331,015 | ||||||||||
Interest, net of foreign taxes withheld* | 6,351 | — | — | — | ||||||||||||||
Securities lending income, net | 28,771 | — | 5,056 | 2,868 | ||||||||||||||
Total investment income | 2,535,889 | 252,678 | 2,068,981 | 6,333,883 | ||||||||||||||
EXPENSES: | ||||||||||||||||||
Investment management fees | 1,232,827 | 97,922 | 706,392 | 2,214,987 | ||||||||||||||
Distribution and shareholder service fees: | ||||||||||||||||||
Class A | 146,235 | 19,704 | 91,571 | 261,418 | ||||||||||||||
Class B | 8,660 | 1,609 | 14,374 | 2,890 | ||||||||||||||
Class C | 103,301 | 11,608 | 237,694 | 491,976 | ||||||||||||||
Class O | 2,242 | — | — | — | ||||||||||||||
Transfer agent fees: | ||||||||||||||||||
Class A | 56,480 | 9,961 | 70,516 | 113,509 | ||||||||||||||
Class B | 1,168 | 211 | 2,767 | 376 | ||||||||||||||
Class C | 13,961 | 1,516 | 45,759 | 64,023 | ||||||||||||||
Class I | 9,139 | 2,637 | 20,341 | 8,131 | ||||||||||||||
Class O | 1,217 | — | — | — | ||||||||||||||
Class W | 26,195 | 42 | 6,886 | 92 | ||||||||||||||
Administrative service fees | 123,281 | 9,792 | 78,487 | 221,496 | ||||||||||||||
Shareholder reporting expense | 31,765 | 1,520 | 35,430 | 14,461 | ||||||||||||||
Registration fees | 43,107 | 61,122 | 35,095 | 35,217 | ||||||||||||||
Professional fees | 23,705 | 9,410 | 13,869 | 17,134 | ||||||||||||||
Custody and accounting expense | 123,873 | 15,029 | 28,001 | 77,652 | ||||||||||||||
Trustee fees | 6,215 | 493 | 3,955 | 11,167 | ||||||||||||||
Proxy and solicitation cost (note 7) | 51,000 | 124,200 | 157,200 | 259,062 | ||||||||||||||
Miscellaneous expense | 6,386 | 2,630 | 9,163 | 3,676 | ||||||||||||||
Interest expense | 2,168 | 143 | 390 | 2,733 | ||||||||||||||
Total expenses | 2,012,925 | 369,549 | 1,557,890 | 3,800,000 | ||||||||||||||
Net waived and reimbursed fees | (71,009 | ) | (224,358 | ) | (329,443 | ) | (444,122 | ) | ||||||||||
Brokerage commission recapture | — | (250 | ) | (4,066 | ) | (2,923 | ) | |||||||||||
Net expenses | 1,941,916 | 144,941 | 1,224,381 | 3,352,955 | ||||||||||||||
Net investment income | 593,973 | 107,737 | 844,600 | 2,980,928 | ||||||||||||||
REALIZED AND UNREALIZED GAIN (LOSS): | ||||||||||||||||||
Net realized gain (loss) on: | ||||||||||||||||||
Investments (net of Indian capital gains tax withheldˆ) | 33,217,062 | (1,487,022 | ) | (27,683,453 | ) | (27,214,484 | ) | |||||||||||
Capital gain distributions from underlying funds | — | — | 10 | 34 | ||||||||||||||
Foreign currency related transactions | 43,597 | (12,209 | ) | (110,824 | ) | (230,751 | ) | |||||||||||
Net realized gain (loss) | 33,260,659 | (1,499,231 | ) | (27,794,267 | ) | (27,445,201 | ) | |||||||||||
Net change in unrealized appreciation (depreciation) on: | ||||||||||||||||||
Investments (net of Indian capital gains tax accrued#) | 4,671,338 | 3,296,747 | 41,146,363 | 81,191,946 | ||||||||||||||
Foreign currency related transactions | (4,464 | ) | 1,808 | 4,365 | (213,199 | ) | ||||||||||||
Net change in unrealized appreciation (depreciation) | 4,666,874 | 3,298,555 | 41,150,728 | 80,978,747 | ||||||||||||||
Net realized and unrealized gain | 37,927,533 | 1,799,324 | 13,356,461 | 53,533,546 | ||||||||||||||
Increase in net assets resulting from operations | $ | 38,521,506 | $ | 1,907,061 | $ | 14,201,061 | $ | 56,514,474 | ||||||||||
________________ | ||||||||||||||||||
* Foreign taxes withheld | $ | 171,814 | $ | 24,188 | $ | 204,676 | $ | 372,142 | ||||||||||
ˆ Foreign taxes on sale of Indian investments | $ | 4,282 | $ | — | $ | — | $ | — | ||||||||||
# Foreign taxes accrued on Indian investments | $ | 1,606 | $ | — | $ | — | $ | — |
ING Russia Fund | ||||||
---|---|---|---|---|---|---|
INVESTMENT INCOME: | ||||||
Dividends, net of foreign taxes withheld* | $ | 2,058,056 | ||||
Securities lending income, net | 29,521 | |||||
Total investment income | 2,087,577 | |||||
EXPENSES: | ||||||
Investment management fees | 1,458,076 | |||||
Distribution and shareholder service fees: | ||||||
Class A | 280,697 | |||||
Transfer agent fees: | ||||||
Class A | 185,343 | |||||
Class I | 11,403 | |||||
Class W | 55 | |||||
Administrative service fees | 116,435 | |||||
Shareholder reporting expense | 29,707 | |||||
Registration fees | 24,320 | |||||
Professional fees | �� | 30,203 | ||||
Custody and accounting expense | 171,125 | |||||
Trustee fees | 5,881 | |||||
Miscellaneous expense | 11,732 | |||||
Interest expense | 1,047 | |||||
Total expenses | 2,326,024 | |||||
Net investment loss | (238,447 | ) | ||||
REALIZED AND UNREALIZED GAIN (LOSS): | ||||||
Net realized gain (loss) on: | ||||||
Investments | 5,584,939 | |||||
Foreign currency related transactions | (2,034 | ) | ||||
Net realized gain | 5,582,905 | |||||
Net change in unrealized appreciation (depreciation) on: | ||||||
Investments | (867,671 | ) | ||||
Foreign currency related transactions | (4,343 | ) | ||||
Net change in unrealized appreciation (depreciation) | (872,014 | ) | ||||
Net realized and unrealized gain | 4,710,891 | |||||
Increase in net assets resulting from operations | $ | 4,472,444 | ||||
________________ | ||||||
* Foreign taxes withheld | $ | 342,600 |
ING Diversified Emerging Markets Debt Fund | ING Diversified International Fund | ||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
November 2, 2012(1) to April 30, 2013 | Six Months Ended April 30, 2013 | Year Ended October 31, 2012 | |||||||||||||
FROM OPERATIONS: | |||||||||||||||
Net investment income | $ | 16,943 | $ | 1,117,583 | $ | 1,275,607 | |||||||||
Net realized gain (loss) | 8,109 | 971,871 | (262,281 | ) | |||||||||||
Net change in unrealized appreciation (depreciation) | 23,115 | 8,529,413 | 3,400,195 | ||||||||||||
Increase in net assets resulting from operations | 48,167 | 10,618,867 | 4,413,521 | ||||||||||||
FROM DISTRIBUTIONS TO SHAREHOLDERS: | |||||||||||||||
Net investment income: | |||||||||||||||
Class A | (26 | ) | (933,473 | ) | (702,513 | ) | |||||||||
Class B | — | (108,940 | ) | (25,317 | ) | ||||||||||
Class C | (22 | ) | (365,430 | ) | (95,652 | ) | |||||||||
Class I | (8,889 | ) | (236,711 | ) | (173,157 | ) | |||||||||
Class O | — | (91,620 | ) | (47,020 | ) | ||||||||||
Class R | — | (2,051 | ) | (1,361 | ) | ||||||||||
Class W | (27 | ) | (11,530 | ) | (14,983 | ) | |||||||||
Total distributions | (8,964 | ) | (1,749,755 | ) | (1,060,003 | ) | |||||||||
FROM CAPITAL SHARE TRANSACTIONS: | |||||||||||||||
Net proceeds from sale of shares | 1,002,098 | 3,367,814 | 6,351,082 | ||||||||||||
Reinvestment of distributions | 8,964 | 1,392,450 | 865,547 | ||||||||||||
1,011,062 | 4,760,264 | 7,216,629 | |||||||||||||
Cost of shares redeemed | — | (19,106,565 | ) | (40,900,474 | ) | ||||||||||
Net increase (decrease) in net assets resulting from capital share transactions | 1,011,062 | (14,346,301 | ) | (33,683,845 | ) | ||||||||||
Net increase (decrease) in net assets | 1,050,265 | (5,477,189 | ) | (30,330,327 | ) | ||||||||||
NET ASSETS: | |||||||||||||||
Beginning of year or period | — | 96,732,114 | 127,062,441 | ||||||||||||
End of year or period | $ | 1,050,265 | $ | 91,254,925 | $ | 96,732,114 | |||||||||
Undistributed (distributions in excess of) net investment income at end of year or period | $ | 7,979 | $ | (288,249 | ) | $ | 343,923 | ||||||||
________________ | |||||||||||||||
(1) Commencement of operations. |
ING Global Bond Fund | ING Global Perspectives Fund | ||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Six Months Ended April 30, 2013 | Year Ended October 31, 2012 | March 28, 2013(1) to April 30, 2013 | |||||||||||||
FROM OPERATIONS: | |||||||||||||||
Net investment income | $ | 13,736,623 | $ | 24,765,610 | $ | 55 | |||||||||
Net realized loss | (690,295 | ) | (8,026,186 | ) | — | ||||||||||
Net change in unrealized appreciation (depreciation) | (2,889,136 | ) | 21,528,154 | 4,020 | |||||||||||
Increase in net assets resulting from operations | 10,157,192 | 38,267,578 | 4,075 | ||||||||||||
FROM DISTRIBUTIONS TO SHAREHOLDERS: | |||||||||||||||
Net investment income: | |||||||||||||||
Class A | (4,283,893 | ) | (2,973,693 | ) | — | ||||||||||
Class B | (22,328 | ) | (10,812 | ) | — | ||||||||||
Class C | (1,792,224 | ) | (453,531 | ) | — | ||||||||||
Class I | (9,689,685 | ) | (4,757,431 | ) | — | ||||||||||
Class O | (82,645 | ) | (51,069 | ) | — | ||||||||||
Class R | (5,157 | ) | (592 | ) | — | ||||||||||
Class W | (811,870 | ) | (379,070 | ) | — | ||||||||||
Net realized gains: | |||||||||||||||
Class A | — | (9,453,922 | ) | — | |||||||||||
Class B | — | (77,080 | ) | — | |||||||||||
Class C | — | (3,749,885 | ) | — | |||||||||||
Class I | — | (11,707,244 | ) | — | |||||||||||
Class O | — | (159,667 | ) | — | |||||||||||
Class R | — | (3,022 | ) | — | |||||||||||
Class W | — | (986,134 | ) | — | |||||||||||
Return of capital: | |||||||||||||||
Class A | — | (2,892,533 | ) | — | |||||||||||
Class B | — | (26,356 | ) | — | |||||||||||
Class C | — | (1,459,959 | ) | — | |||||||||||
Class I | — | (5,236,765 | ) | — | |||||||||||
Class O | — | (60,046 | ) | — | |||||||||||
Class R | — | (2,655 | ) | — | |||||||||||
Class W | — | (400,311 | ) | — | |||||||||||
Total distributions | (16,687,802 | ) | (44,841,777 | ) | — | ||||||||||
FROM CAPITAL SHARE TRANSACTIONS: | |||||||||||||||
Net proceeds from sale of shares | 224,469,269 | 509,177,465 | 200,354 | ||||||||||||
Reinvestment of distributions | 14,106,249 | 37,756,214 | — | ||||||||||||
238,575,518 | 546,933,679 | 200,354 | |||||||||||||
Cost of shares redeemed | (207,203,941 | ) | (371,164,423 | ) | — | ||||||||||
Net increase in net assets resulting from capital share transactions | 31,371,577 | 175,769,256 | 200,354 | ||||||||||||
Net increase in net assets | 24,840,967 | 169,195,057 | 204,429 | ||||||||||||
NET ASSETS: | |||||||||||||||
Beginning of year or period | 803,980,631 | 634,785,574 | — | ||||||||||||
End of year or period | $ | 828,821,598 | $ | 803,980,631 | $ | 204,429 | |||||||||
Undistributed (distributions in excess of) net investment income at end of year or period | $ | (6,358,850 | ) | $ | (3,407,671 | ) | $ | 55 | |||||||
________________ | |||||||||||||||
(1) Commencement of operations. |
ING International Small Cap Fund | ING International Value Choice Fund | ||||||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Six Months Ended April 30, 2013 | Year Ended October 31, 2012 | Six Months Ended April 30, 2013 | Year Ended October 31, 2012 | ||||||||||||||||
FROM OPERATIONS: | |||||||||||||||||||
Net investment income | $ | 593,973 | $ | 3,487,467 | $ | 107,737 | $ | 431,484 | |||||||||||
Net realized gain (loss) | 33,260,659 | (884,643 | ) | (1,499,231 | ) | (2,448,801 | ) | ||||||||||||
Net change in unrealized appreciation (depreciation) | 4,666,874 | 10,619,358 | 3,298,555 | 108,873 | |||||||||||||||
Increase (decrease) in net assets resulting from operations | 38,521,506 | 13,222,182 | 1,907,061 | (1,908,444 | ) | ||||||||||||||
FROM DISTRIBUTIONS TO SHAREHOLDERS: | |||||||||||||||||||
Net investment income: | |||||||||||||||||||
Class A | (1,359,524 | ) | (1,557,769 | ) | (328,085 | ) | (562,622 | ) | |||||||||||
Class B | (16,313 | ) | (10,775 | ) | (3,252 | ) | (7,167 | ) | |||||||||||
Class C | (258,802 | ) | (230,441 | ) | (21,227 | ) | (80,404 | ) | |||||||||||
Class I | (2,092,006 | ) | (3,055,854 | ) | (19,361 | ) | (122,252 | ) | |||||||||||
Class O | (29,554 | ) | (25,934 | ) | — | — | |||||||||||||
Class W | (637,682 | ) | (458,648 | ) | — | (1,980 | ) | ||||||||||||
Total distributions | (4,393,881 | ) | (5,339,421 | ) | (371,925 | ) | (774,425 | ) | |||||||||||
FROM CAPITAL SHARE TRANSACTIONS: | |||||||||||||||||||
Net proceeds from sale of shares | 27,512,562 | 29,267,070 | 1,180,192 | �� | 13,499,438 | ||||||||||||||
Payment from distribution/payment by affiliate | — | 821,983 | — | — | |||||||||||||||
Reinvestment of distributions | 3,684,760 | 3,263,088 | 351,300 | 677,136 | |||||||||||||||
31,197,322 | 33,352,141 | 1,531,492 | 14,176,574 | ||||||||||||||||
Cost of shares redeemed | (51,715,903 | ) | (106,730,639 | ) | (11,523,830 | ) | (18,392,169 | ) | |||||||||||
Net decrease in net assets resulting from capital share transactions | (20,518,581 | ) | (73,378,498 | ) | (9,992,338 | ) | (4,215,595 | ) | |||||||||||
Net increase (decrease) in net assets | 13,609,044 | (65,495,737 | ) | (8,457,202 | ) | (6,898,464 | ) | ||||||||||||
NET ASSETS: | |||||||||||||||||||
Beginning of year or period | 242,173,230 | 307,668,967 | 23,024,321 | 29,922,785 | |||||||||||||||
End of year or period | $ | 255,782,274 | $ | 242,173,230 | $ | 14,567,119 | $ | 23,024,321 | |||||||||||
Undistributed net investment income at end of year or period | $ | 470,049 | $ | 4,269,957 | $ | 101,260 | $ | 365,448 |
ING International Value Equity Fund | ING International Value Fund | ||||||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Six Months Ended April 30, 2013 | Year Ended October 31, 2012 | Six Months Ended April 30, 2013 | Year Ended October 31, 2012 | ||||||||||||||||
FROM OPERATIONS: | |||||||||||||||||||
Net investment income | $ | 844,600 | $ | 3,021,333 | $ | 2,980,928 | $ | 11,760,505 | |||||||||||
Net realized loss | (27,794,267 | ) | (34,832,397 | ) | (27,445,201 | ) | (57,627,771 | ) | |||||||||||
Net change in unrealized appreciation (depreciation) | 41,150,728 | (7,498,513 | ) | 80,978,747 | 44,269,093 | ||||||||||||||
Increase (decrease) in net assets resulting from operations | 14,201,061 | (39,309,577 | ) | 56,514,474 | (1,598,173 | ) | |||||||||||||
FROM DISTRIBUTIONS TO SHAREHOLDERS: | |||||||||||||||||||
Net investment income: | |||||||||||||||||||
Class A | (424,512 | ) | (2,085,360 | ) | (4,695,909 | ) | (7,601,085 | ) | |||||||||||
Class B | — | — | (8,429 | ) | (20,538 | ) | |||||||||||||
Class C | — | (366,940 | ) | (1,958,517 | ) | (2,495,707 | ) | ||||||||||||
Class I | (194,919 | ) | (2,716,720 | ) | (5,102,875 | ) | (7,967,223 | ) | |||||||||||
Class W | (62,989 | ) | (288,923 | ) | (3,987 | ) | (9,108 | ) | |||||||||||
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 | (682,420 | ) | (61,562,235 | ) | (11,769,717 | ) | (18,093,661 | ) | |||||||||||
FROM CAPITAL SHARE TRANSACTIONS: | |||||||||||||||||||
Net proceeds from sale of shares | 5,417,989 | 54,481,797 | 12,032,388 | 36,063,881 | |||||||||||||||
Payment from distribution/payment by affiliate | — | 364,932 | — | 860,591 | |||||||||||||||
Reinvestment of distributions | 538,761 | 36,770,617 | 10,040,289 | 14,532,214 | |||||||||||||||
5,956,750 | 91,617,346 | 22,072,677 | 51,456,686 | ||||||||||||||||
Cost of shares redeemed | (51,055,396 | ) | (453,328,903 | ) | (208,011,335 | ) | (252,961,793 | ) | |||||||||||
Net decrease in net assets resulting from capital share transactions | (45,098,646 | ) | (361,711,557 | ) | (185,938,658 | ) | (201,505,107 | ) | |||||||||||
Net decrease in net assets | (31,580,005 | ) | (462,583,369 | ) | (141,193,901 | ) | (221,196,941 | ) | |||||||||||
NET ASSETS: | |||||||||||||||||||
Beginning of year or period | 177,581,656 | 640,165,025 | 482,583,553 | 703,780,494 | |||||||||||||||
End of year or period | $ | 146,001,651 | $ | 177,581,656 | $ | 341,389,652 | $ | 482,583,553 | |||||||||||
Undistributed net investment income at end of year or period | $ | 840,564 | $ | 678,384 | $ | 2,572,222 | $ | 11,361,011 |
ING Russia Fund | |||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|
Six Months Ended April 30, 2013 | Year Ended October 31, 2012 | ||||||||||
FROM OPERATIONS: | |||||||||||
Net investment income (loss) | $ | (238,447 | ) | $ | 1,234,539 | ||||||
Net realized gain (loss) | 5,582,905 | (2,514,104 | ) | ||||||||
Net change in unrealized (depreciation) | (872,014 | ) | (19,656,224 | ) | |||||||
Increase (decrease) in net assets resulting from operations | 4,472,444 | (20,935,789 | ) | ||||||||
FROM DISTRIBUTIONS TO SHAREHOLDERS: | |||||||||||
Net investment income: | |||||||||||
Class A | (1,638,073 | ) | — | ||||||||
Class I | (71,291 | ) | — | ||||||||
Class W | (715 | ) | — | ||||||||
Total distributions | (1,710,079 | ) | — | ||||||||
FROM CAPITAL SHARE TRANSACTIONS: | |||||||||||
Net proceeds from sale of shares | 5,985,356 | 24,129,463 | |||||||||
Reinvestment of distributions | 1,486,487 | — | |||||||||
7,471,843 | 24,129,463 | ||||||||||
Redemption fee proceeds | 21,766 | 133,331 | |||||||||
Cost of shares redeemed | (46,915,420 | ) | (87,210,483 | ) | |||||||
Net decrease in net assets resulting from capital share transactions | (39,421,811 | ) | (62,947,689 | ) | |||||||
Net decrease in net assets | (36,659,446 | ) | (83,883,478 | ) | |||||||
NET ASSETS: | |||||||||||
Beginning of year or period | 244,361,475 | 328,244,953 | |||||||||
End of year or period | $ | 207,702,029 | $ | 244,361,475 | |||||||
Undistributed (distributions in excess of) net investment income at end of year or period | $ | (974,634 | ) | $ | 973,892 |
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 from Distribution settlement/ 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 Emerging Markets Debt Fund(4) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Class A | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
11-02-12(5)–04-30-13 | 10.00 | 0.12 | 0.33 | 0.45 | 0.08 | — | — | 0.08 | — | 10.37 | 4.56 | 13.15 | 1.11 | 1.11 | 2.73 | 5 | 53 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
Class C | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
11-02-12(5)–04-30-13 | 10.00 | 0.12 | 0.29 | 0.41 | 0.07 | — | — | 0.07 | — | 10.34 | 4.14 | 13.90 | 1.86 | 1.86 | 2.38 | 3 | 53 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
Class I | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
11-02-12(5)–04-30-13 | 10.00 | 0.17 | 0.31 | 0.48 | 0.09 | — | — | 0.09 | — | 10.39 | 4.81 | 12.52 | 0.81 | 0.81 | 3.43 | 1,039 | 53 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
Class W | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
11-02-12(5)–04-30-13 | 10.00 | 0.17 | 0.29 | 0.46 | 0.09 | — | — | 0.09 | — | 10.37 | 4.60 | 12.90 | 0.86 | 0.86 | 3.39 | 3 | 53 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
ING Diversified International Fund(4) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Class A | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
04-30-13 | 8.95 | 0.13 | 0.95 | 1.08 | 0.20 | — | — | 0.20 | — | 9.83 | 12.22 | 0.77 | 0.50 | 0.50 | 2.78 | 41,433 | 4 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
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 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
04-30-13 | 8.92 | 0.09 | 0.95 | 1.04 | 0.13 | — | — | 0.13 | — | 9.83 | 11.74 | 1.52 | 1.25 | 1.25 | 1.87 | 7,588 | 4 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
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 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
04-30-13 | 8.90 | 0.09 | 0.94 | 1.03 | 0.12 | — | — | 0.12 | — | 9.81 | 11.69 | 1.52 | 1.25 | 1.25 | 1.84 | 27,239 | 4 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
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 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
04-30-13 | 8.93 | 0.13 | 0.95 | 1.08 | 0.22 | — | — | 0.22 | — | 9.79 | 12.31 | 0.44 | 0.25 | 0.25 | 2.94 | 9,126 | 4 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
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 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
04-30-13 | 8.87 | 0.10 | • | 0.97 | 1.07 | 0.21 | — | — | 0.21 | — | 9.73 | 12.22 | 0.77 | 0.50 | 0.50 | 2.15 | 5,279 | 4 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
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(5)–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 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
04-30-13 | 8.84 | 0.10 | 0.95 | 1.05 | 0.19 | — | — | 0.19 | — | 9.70 | 12.03 | 1.02 | 0.75 | 0.75 | 2.24 | 105 | 4 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
10-31-12 | 8.52 | 0.14 | • | 0.27 | 0.41 | 0.09 | — | — | 0.09 | — | 8.84 | 4.87 | 0.98 | 0.75 | 0.75 | 1.67 | 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 |
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 from Distribution settlement/ 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(4) (continued) | �� | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Class W | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
04-30-13 | 8.90 | 0.13 | • | 0.95 | 1.08 | 0.22 | — | — | 0.22 | — | 9.76 | 12.29 | 0.52 | 0.25 | 0.25 | 2.74 | 484 | 4 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
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(5)–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 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
04-30-13 | 11.63 | 0.18 | (0.05 | ) | 0.13 | 0.23 | — | — | 0.23 | — | 11.53 | 1.15 | 0.92 | 0.90 | 0.90 | 3.36 | 198,697 | 295 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
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 | |||||||||||||||||||||||||||||||||||||||||||||||||||
Class B | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
04-30-13 | 11.51 | 0.15 | • | (0.05 | ) | 0.10 | 0.19 | — | — | 0.19 | — | 11.42 | 0.86 | 1.67 | 1.65 | 1.65 | 2.61 | 1,078 | 295 | |||||||||||||||||||||||||||||||||||||||||||||||||||||
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 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
04-30-13 | 11.56 | 0.14 | (0.05 | ) | 0.09 | 0.19 | — | — | 0.19 | — | 11.46 | 0.78 | 1.67 | 1.65 | 1.65 | 2.59 | 105,687 | 295 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
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 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
04-30-13 | 11.59 | 0.21 | (0.06 | ) | 0.15 | 0.25 | — | — | 0.25 | — | 11.49 | 1.31 | 0.62 | 0.60 | 0.60 | 3.65 | 481,093 | 295 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
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 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
04-30-13 | 11.42 | 0.18 | (0.05 | ) | 0.13 | 0.23 | — | — | 0.23 | — | 11.32 | 1.18 | 0.92 | 0.90 | 0.90 | 3.30 | 3,923 | 295 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
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(5)–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 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
04-30-13 | 11.61 | 0.21 | (0.09 | ) | 0.12 | 0.22 | — | — | 0.22 | — | 11.51 | 1.03 | 1.17 | 1.15 | 1.15 | 3.81 | 242 | 295 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
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(5)–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 |
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 from Distribution settlement/ 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 W | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
04-30-13 | 11.41 | 0.21 | (0.06 | ) | 0.15 | 0.25 | — | — | 0.25 | — | 11.31 | 1.30 | 0.67 | 0.65 | 0.65 | 3.56 | 38,101 | 295 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
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(5)–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 Perspectives Fund(4) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Class A | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
03-28-13(5)–04-30-13 | 10.00 | 0.00 | * | 0.20 | 0.20 | — | — | — | — | — | 10.20 | 2.00 | 95.75 | 0.40 | 0.40 | 0.55 | 96 | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
Class C | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
03-28-13(5)–04-30-13 | 10.00 | (0.00 | )* | 0.19 | 0.19 | — | — | — | — | — | 10.19 | 1.90 | 96.50 | 1.15 | 1.15 | (0.24 | ) | 34 | — | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Class I | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
03-28-13(5)–04-30-13 | 10.00 | 0.01 | 0.16 | 0.17 | — | — | — | — | — | 10.17 | 1.70 | 95.46 | 0.11 | 0.11 | 0.78 | 20 | — | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
Class R | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
03-28-13(5)–04-30-13 | 10.00 | 0.00 | * | 0.17 | 0.17 | — | — | — | — | — | 10.17 | 1.70 | 96.00 | 0.65 | 0.65 | 0.24 | 20 | — | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
Class W | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
03-28-13(5)–04-30-13 | 10.00 | 0.01 | 0.17 | 0.18 | — | — | — | — | — | 10.18 | 1.80 | 95.50 | 0.15 | 0.15 | 0.74 | 34 | — | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
ING International Small Cap Fund | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Class A | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
04-30-13 | 37.07 | 0.06 | • | 6.05 | 6.11 | 0.64 | — | — | 0.64 | — | 42.54 | 16.69 | 1.82 | 1.76 | 1.76 | 0.29 | 86,274 | 85 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
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 | )(b) | 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 | (c) | 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 | (d) | 1.95 | 1.95 | † | 1.95 | † | 0.85 | † | 177,914 | 103 | ||||||||||||||||||||||||||||||||||||||||||||||||||
10-31-08 | 66.43 | 0.65 | (36.15 | ) | (35.50 | ) | 0.32 | 7.88 | — | 8.20 | — | 22.73 | (59.84 | ) | 1.71 | 1.71 | 1.70 | 1.27 | 160,869 | 84 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Class B | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
04-30-13 | 39.12 | (0.09 | )• | 6.41 | 6.32 | 0.36 | — | — | 0.36 | — | 45.08 | 16.29 | 2.47 | 2.41 | 2.41 | (0.42 | ) | 1,654 | 85 | |||||||||||||||||||||||||||||||||||||||||||||||||||||
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 | )(b) | 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 | (c) | 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 | (d) | 2.60 | 2.60 | † | 2.60 | † | 0.24 | † | 8,383 | 103 | ||||||||||||||||||||||||||||||||||||||||||||||||||
10-31-08 | 68.31 | 0.21 | • | (37.16 | ) | (36.95 | ) | — | 7.88 | — | 7.88 | — | 23.48 | (60.10 | ) | 2.35 | 2.35 | 2.35 | 0.45 | 11,892 | 84 | |||||||||||||||||||||||||||||||||||||||||||||||||||
Class C | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
04-30-13 | 34.50 | (0.07 | )• | 5.64 | 5.57 | 0.45 | — | — | 0.45 | — | 39.62 | 16.31 | 2.47 | 2.41 | 2.41 | (0.36 | ) | 21,149 | 85 | |||||||||||||||||||||||||||||||||||||||||||||||||||||
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 | )(b) | 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 | (c) | 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 | (d) | 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 | — | 21.12 | (60.11 | ) | 2.35 | 2.35 | 2.35 | 0.58 | 29,760 | 84 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Class I | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
04-30-13 | 37.14 | 0.15 | • | 6.03 | 6.18 | 0.80 | — | — | 0.80 | — | 42.52 | 16.93 | 1.35 | 1.29 | 1.29 | 0.76 | 102,967 | 85 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
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 | )(b) | 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 | (c) | 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 | (d) | 1.45 | 1.45 | † | 1.45 | † | 1.29 | † | 164,985 | 103 | ||||||||||||||||||||||||||||||||||||||||||||||||||
10-31-08 | 66.72 | 0.78 | (36.25 | ) | (35.47 | ) | 0.52 | 7.88 | — | 8.40 | — | 22.85 | (59.66 | ) | 1.29 | 1.29 | 1.29 | 1.71 | 139,213 | 84 |
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 from Distribution settlement/ 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 Small Cap Fund (continued) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Class O | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
04-30-13 | 36.75 | 0.09 | 5.97 | 6.06 | 0.69 | — | — | 0.69 | — | 42.12 | 16.73 | 1.72 | 1.66 | 1.66 | 0.48 | 2,104 | 85 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
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 | )(b) | 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 | (c) | 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 | (d) | 0.19 | 0.19 | † | 0.19 | † | 0.69 | † | 565 | 103 | ||||||||||||||||||||||||||||||||||||||||||||||||||
06-04-08(5)–10-31-08 | 47.28 | 0.18 | • | (24.71 | ) | (24.53 | ) | — | 0.00 | * | — | — | — | 22.75 | (51.88 | ) | 1.60 | 1.60 | 1.60 | 1.39 | 62 | 84 | ||||||||||||||||||||||||||||||||||||||||||||||||||
Class W | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
04-30-13 | 44.11 | 0.15 | • | 7.20 | 7.35 | 0.76 | — | — | 0.76 | — | 50.70 | 16.88 | 1.47 | 1.41 | 1.41 | 0.66 | 41,635 | 85 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
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 | )(b) | 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 | (c) | 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 | (d) | 1.45 | 1.45 | † | 1.45 | † | 1.32 | † | 12,096 | 103 | |||||||||||||||||||||||||||||||||||||||||||||||||||
02-12-08(5)–10-31-08 | 50.70 | 0.50 | • | (24.37 | ) | (23.87 | ) | — | 0.00 | * | — | — | — | 26.83 | (47.08 | ) | 1.29 | 1.29 | 1.29 | 1.80 | 10,366 | 84 | ||||||||||||||||||||||||||||||||||||||||||||||||||
ING International Value Choice Fund | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Class A | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
04-30-13 | 9.20 | 0.05 | • | 0.98 | 1.03 | 0.18 | — | — | 0.18 | — | 10.05 | 11.31 | 3.67 | 1.39 | 1.39 | 1.17 | 11,116 | 126 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
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 | |||||||||||||||||||||||||||||||||||||||||||||||||
Class B | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
04-30-13 | 9.10 | 0.04 | 0.95 | 0.99 | 0.09 | — | — | 0.09 | — | 10.00 | 10.97 | 4.42 | 2.14 | 2.14 | 0.64 | 330 | 126 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
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 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
04-30-13 | 9.07 | 0.02 | • | 0.97 | 0.99 | 0.08 | — | — | 0.08 | — | 9.98 | 10.94 | 4.42 | 2.14 | 2.14 | 0.54 | 2,068 | 126 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
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 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
04-30-13 | 9.20 | 0.07 | • | 0.97 | 1.04 | 0.16 | — | — | 0.16 | — | 10.08 | 11.50 | 3.77 | 1.14 | 1.14 | 1.50 | 985 | 126 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
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 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
04-30-13 | 9.21 | 0.08 | • | 0.98 | 1.06 | — | — | — | — | — | 10.27 | 11.51 | 3.42 | 1.14 | 1.14 | 1.64 | 67 | 126 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
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(5)–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 |
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 from Distribution settlement/ 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 Equity Fund | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Class A | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
04-30-13 | 26.44 | 0.17 | • | 2.44 | 2.61 | 0.15 | — | — | 0.15 | — | 28.90 | 9.91 | 1.80 | 1.38 | 1.37 | 1.26 | 68,348 | 125 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
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 | (e) | 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 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
04-30-13 | 28.43 | 0.08 | • | 2.61 | 2.69 | — | — | — | — | — | 31.12 | 9.46 | 2.55 | 2.13 | 2.12 | 0.54 | 2,808 | 125 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
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 | (e) | 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 | ||||||||||||||||||||||||||||||||||||||||||||||||
Class C | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
04-30-13 | 24.67 | 0.07 | • | 2.26 | 2.33 | — | — | — | — | — | 27.00 | 9.44 | 2.55 | 2.13 | 2.12 | 0.53 | 44,349 | 125 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
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 | (e) | 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 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
04-30-13 | 26.69 | 0.20 | • | 2.46 | 2.66 | 0.19 | — | — | 0.19 | — | 29.16 | 10.04 | 1.52 | 1.13 | 1.12 | 1.51 | 24,126 | 125 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
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 | (e) | 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 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
04-30-13 | 26.69 | 0.20 | • | 2.45 | 2.65 | 0.22 | — | — | 0.22 | — | 29.12 | 10.01 | 1.55 | 1.13 | 1.12 | 1.49 | 6,371 | 125 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
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 | (e) | 1.25 | 1.24 | 1.23 | 0.73 | 30,105 | 49 | |||||||||||||||||||||||||||||||||||||||||||||||||||||
06-01-09(5)–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 International Value Fund | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Class A | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
04-30-13 | 10.41 | 0.07 | • | 1.36 | 1.43 | 0.28 | — | — | 0.28 | — | 11.56 | 13.95 | 1.72 | 1.52 | 1.52 | 1.32 | 166,001 | 104 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
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 | )(f) | 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 | (g) | 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 | (h) | 1.75 | 1.75 | † | 1.75 | † | 1.25 | † | 725,329 | 92 | |||||||||||||||||||||||||||||||||||||||||||||||||||
10-31-08 | 23.15 | 0.39 | (8.83 | ) | (8.44 | ) | 0.23 | 3.35 | — | 3.58 | — | 11.13 | (42.58 | ) | 1.58 | 1.58 | † | 1.57 | † | 1.95 | † | 931,162 | 23 | |||||||||||||||||||||||||||||||||||||||||||||||||
Class B | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
04-30-13 | 10.48 | 0.03 | • | 1.38 | 1.41 | 0.15 | — | — | 0.15 | — | 11.74 | 13.59 | 2.42 | 2.22 | 2.22 | 0.63 | 573 | 104 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
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 | )(f) | 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 | (g) | 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 | (h) | 2.45 | 2.45 | † | 2.45 | † | 0.65 | † | 37,743 | 92 | ||||||||||||||||||||||||||||||||||||||||||||||||||
10-31-08 | 22.64 | 0.19 | • | (8.58 | ) | (8.39 | ) | 0.02 | 3.35 | — | 3.37 | — | 10.88 | (43.00 | ) | 2.28 | 2.28 | † | 2.27 | † | 1.12 | † | 85,873 | 23 |
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 from Distribution settlement/ 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 C | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
04-30-13 | 10.07 | 0.03 | • | 1.32 | 1.35 | 0.20 | — | — | 0.20 | — | 11.22 | 13.62 | 2.42 | 2.22 | 2.22 | 0.65 | 98,522 | 104 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
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 | )(f) | 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 | (g) | 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 | (h) | 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 | (72.94 | ) | 2.28 | 2.18 | † | 2.17 | † | 1.34 | † | 326,812 | 23 | |||||||||||||||||||||||||||||||||||||||||||||||||
Class I | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
04-30-13 | 10.38 | 0.10 | • | 1.35 | 1.45 | 0.33 | — | — | 0.33 | — | 11.50 | 14.32 | 1.30 | 1.10 | 1.10 | 1.77 | 76,153 | 104 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
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 | )(f) | 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 | (g) | 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 | (h) | 1.33 | 1.33 | † | 1.33 | † | 1.65 | † | 607,517 | 92 | ||||||||||||||||||||||||||||||||||||||||||||||||||
10-31-08 | 23.22 | 0.47 | (8.87 | ) | (8.40 | ) | 0.31 | 3.35 | — | 3.66 | — | 11.16 | (42.37 | ) | 1.28 | 1.28 | † | 1.27 | † | 2.23 | † | 735,622 | 23 | |||||||||||||||||||||||||||||||||||||||||||||||||
Class W | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
04-30-13 | 10.38 | 0.09 | • | 1.35 | 1.44 | 0.31 | — | — | 0.31 | — | 11.51 | 14.12 | 1.42 | 1.22 | 1.22 | 1.67 | 141 | 104 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
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 | )(f) | 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 | (g) | 1.32 | 1.32 | † | 1.32 | † | 1.99 | † | 24,507 | 81 | |||||||||||||||||||||||||||||||||||||||||||||||||||
07-20-09(5)–10-31-09 | 10.42 | 0.01 | • | 0.87 | 0.88 | — | — | — | — | — | 11.30 | 8.45 | (h) | 1.33 | 1.33 | † | 1.33 | † | 0.20 | † | 3 | 92 | ||||||||||||||||||||||||||||||||||||||||||||||||||
ING Russia Fund(i) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Class A | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
04-30-13 | 31.44 | (0.04 | ) | 0.48 | 0.44 | 0.23 | — | — | 0.23 | — | 31.65 | 1.37 | 2.00 | 2.00 | 2.00 | (0.21 | ) | 199,883 | 13 | |||||||||||||||||||||||||||||||||||||||||||||||||||||
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 | ) | (0.30 | ) | — | — | — | — | — | 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 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
04-30-13 | 31.76 | (0.01 | )• | 0.44 | 0.43 | 0.26 | — | — | 0.26 | — | 31.93 | 1.33 | 1.85 | 1.85 | 1.85 | (0.08 | ) | 7,731 | 13 | |||||||||||||||||||||||||||||||||||||||||||||||||||||
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(5)–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 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
04-30-13 | 31.72 | 0.04 | • | 0.45 | 0.49 | 0.38 | — | — | 0.38 | — | 31.83 | 1.50 | 1.75 | 1.75 | 1.75 | 0.26 | 87 | 13 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
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(5)–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) | Expense ratios do not include expenses of underlying funds. | |
(5) | Commencement of operations. | |
(a) | Excluding a distribution payment from settlement of a regulatory matter during the year ended October 31, 2012, total return for International Value Equity 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, 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. | |
(c) | 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. | |
(d) | 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. | |
(e) | Excluding a payment from distribution settlement in the fiscal year ended October 31, 2010, International Value Equity 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. | |
(f) | 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. | |
(g) | 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. | |
(h) | 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. | |
(i) | 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. |
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.
quoted prices for an asset or liability that are observable are classified as “Level 2” and unobservable inputs, including the adviser’s or sub-adviser’s judgment about the assumptions that a market participant would use in pricing an asset or liability are classified as “Level 3.” The inputs used for valuing securities are not necessarily an indication of the risks associated with investing in those securities. Short-term securities of sufficient credit quality which are valued at amortized cost, which approximates fair value, are generally considered to be Level 2 securities under applicable accounting rules. A table summarizing the Funds’ investments under these levels of classification is included following the Summary Portfolios of Investments.
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. |
or losses on such securities are recorded net of foreign withholding tax.
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.
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.
income tax or excise tax provision is not required. Management has considered the sustainability of the Funds’ tax positions taken on federal income tax returns for all open tax years in making this determination. No capital gain distributions shall be made until the capital loss carryforwards have been fully utilized or expire.
Purchases | Sales | |||||||||
---|---|---|---|---|---|---|---|---|---|---|
Diversified Emerging Markets Debt | $ | 1,387,933 | $ | 506,452 | ||||||
Diversified International | 3,560,089 | 18,802,453 | ||||||||
Global Bond | 1,188,193,238 | 1,136,701,451 | ||||||||
Global Perspectives | 200,461 | — | ||||||||
International Small Cap | 204,982,959 | 235,801,599 | ||||||||
International Value Choice | 24,291,717 | 34,291,353 | ||||||||
International Value Equity | 196,568,723 | 236,051,909 | ||||||||
International Value | 444,665,803 | 640,012,591 | ||||||||
Russia | 29,768,196 | 72,988,481 |
Purchases | Sales | |||||||||
---|---|---|---|---|---|---|---|---|---|---|
Global Bond | $ | 1,232,213,132 | $ | 1,213,334,170 |
Fund | As a Percentage of Average Daily Net Assets | |||||
---|---|---|---|---|---|---|
Diversified Emerging Markets Debt | 0.70% | |||||
Diversified International | 0.00% | |||||
Global Bond | 0.40% | |||||
Global Perspectives | 0.30% Direct Investments; 0.10% Underlying Funds | |||||
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 Equity | 0.90% on the first $500 million; 0.80% on the next $500 million; and 0.75% thereafter | |||||
International Value(1) | 1.00% on the first $1.5 billion; 0.70% on the next $750 million; and 0.65% thereafter | |||||
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 | |||||
---|---|---|---|---|---|---|
Diversified Emerging Markets Debt | ING Investment Management Co. LLC* | |||||
Global Bond | ING Investment Management Co. LLC* | |||||
Global Perspectives | ING Investment Management Co. LLC* | |||||
International Small Cap(1) | Acadian Asset Management LLC and Wellington Management Company, LLP | |||||
International Value Choice(2) | ING Investment Management Co. LLC* | |||||
International Value Equity(2) | ING Investment Management Co. LLC* | |||||
International Value(3) | ING Investment Management Co. LLC* | |||||
Russia | ING Investment Management Advisors B.V.* |
(1) | Effective April 30, 2013, Wellington Management Company, LLP replaced Schroder Investment Management North America Inc. as the sub-adviser. |
(2) | Effective November 15, 2012, Tradewinds Global Investors, LLC was removed as the sub-adviser and effective November 30, 2012, ING Investment Management Co. LLC was added as the interim sub-adviser with a permanent sub-advisory agreement approved by shareholders on March 14, 2013 and April 11, 2013 for International Value Choice and International Value Equity, respectively. |
(3) | Effective March 26, 2013, Brandes Investment Partners, L.P. and del Rey Global Investors, LLC were removed as sub-advisers. |
Fund | Class A | Class B | Class C | Class O | Class R | |||||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Diversified Emerging Markets Debt | 0.25 | % | N/A | 1.00 | % | N/A | N/A | |||||||||||||||
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 Perspectives | 0.25 | % | N/A | 1.00 | % | N/A | 0.50 | % | ||||||||||||||
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 Equity | 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 | $ | 1,395 | $ | — | ||||||
Global Bond | 16,396 | — | ||||||||
International Small Cap | 867 | — | ||||||||
International Value Choice | 138 | — | ||||||||
International Value Equity | 1,114 | — | ||||||||
International Value | 596 | — | ||||||||
Russia | 10,849 | — | ||||||||
Contingent Deferred Sales Charges: | ||||||||||
Diversified International | $ | — | $ | 161 | ||||||
Global Bond | — | 1,048 | ||||||||
International Small Cap | 2,000 | 7 | ||||||||
International Value Equity | 864 | 543 | ||||||||
International Value | 883 | 205 | ||||||||
Russia | 4,677 | — |
Affiliated Investment Company/Subsidiary | Fund | Percentage | ||||||||
---|---|---|---|---|---|---|---|---|---|---|
ING Investment Management Company LLC | Diversified Emerging Markets Debt | 99.79 | % | |||||||
Global Perspectives | 50.10 | |||||||||
ING Life Insurance and Annuity Company | International Small Cap | 7.15 | ||||||||
ING National Trust | International Value Choice | 11.78 | ||||||||
International Value | 10.79 | |||||||||
ING Solution 2015 Portfolio | Global Bond | 5.48 | ||||||||
ING Solution 2025 Portfolio | Global Bond | 9.52 |
Fund | Accrued Expenses | Amount | ||||||||
---|---|---|---|---|---|---|---|---|---|---|
Diversified Emerging Markets Debt | Offering | $ | 10,697 | |||||||
Diversified International | Postage | 83,833 | ||||||||
Global Perspectives | Offering | 100,000 | ||||||||
International Value Choice | Proxy and solicitation | 55,095 |
Fund | Class A | Class B | Class C | Class I | Class O | Class R | Class W | |||||||||||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Diversified Emerging Markets Debt(1) | 1.25 | % | N/A | 2.00 | % | 0.95 | % | N/A | N/A | 1.00 | % | |||||||||||||||||||
Diversified International(2) | 0.50 | % | 1.25 | % | 1.25 | % | 0.25 | % | 0.50 | % | 0.75 | % | 0.25 | % | ||||||||||||||||
Global Bond(3) | 0.90 | % | 1.65 | % | 1.65 | % | 0.65 | % | 0.90 | % | 1.15 | % | 0.65 | % | ||||||||||||||||
Global Perspectives(1) | 1.23 | % | N/A | 1.98 | % | 0.98 | % | N/A | 1.48 | % | 0.98 | % | ||||||||||||||||||
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 Equity(4) | 1.35 | % | 2.10 | % | 2.10 | % | 1.10 | % | N/A | N/A | 1.10 | % | ||||||||||||||||||
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) | For Diversified Emerging Markets Debt and Global Perspectives, the total expense limits include the expenses of the underlying investment companies. |
(2) | 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. |
(3) | Prior to March 1, 2013, the expense limit was 0.61% for Class I respectively. |
(4) | Prior to November 30, 2012, the expense limit was 1.50%, 2.25%, 2.25%, 1.25% and 1.25% for Classes A,B,C,I and W respectively. |
Fund | Class A | Class B | Class C | Class I | Class O | Class R | Class W | |||||||||||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
International SmallCap(1) | 1.80 | % | 2.45 | % | 2.45 | % | 1.25 | % | 1.70 | % | N/A | 1.45 | % | |||||||||||||||||
International Value Choice(2) | 1.35 | % | 2.10 | % | 2.10 | % | 1.10 | % | N/A | N/A | 1.10 | % | ||||||||||||||||||
International Value(1)(3) | 1.50 | % | 2.20 | % | 2.20 | % | 1.20 | % | N/A | N/A | 1.20 | % | ||||||||||||||||||
Russia(1) | 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 November 30, 2012, pursuant to a side letter agreement, the expense limit was 1.60%, 2.35%, 2.35%, 1.35% and 1.35% for Classes A,B,C,I and W respectively. |
(3) | Prior to January 1, 2013, pursuant to a side letter agreement, the expense limit was 1.60%, 2.30%, 2.30%, 1.30% and 1.30% for Classes A,B,C,I and W respectively. |
April 30, | |||||||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
2014 | 2015 | 2016 | Total | ||||||||||||||||
Diversified Emerging Markets Debt | $ | — | $ | — | $ | 57,910 | $ | 57,910 | |||||||||||
Diversified International | 214,342 | 102,739 | 229,578 | 546,659 | |||||||||||||||
Global Bond | 467,756 | 147,364 | 252,402 | 867,522 | |||||||||||||||
Global Perspectives | — | — | 10,927 | 10,927 | |||||||||||||||
International Small Cap | — | — | 40,779 | 40,779 | |||||||||||||||
International Value Choice | — | 35,695 | 251,866 | 287,561 | |||||||||||||||
International Value Equity | — | — | 304,771 | 304,771 |
April 30, | |||||||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
2014 | 2015 | 2016 | Total | ||||||||||||||||
Diversified Emerging Markets Debt | |||||||||||||||||||
Class A | $ | — | $ | — | $ | 6 | $ | 6 | |||||||||||
Class C | — | — | 5 | 5 | |||||||||||||||
Class W | — | — | 5 | 5 | |||||||||||||||
Diversified International | |||||||||||||||||||
Class A | $ | 31,517 | $ | 102,828 | $ | 16,562 | $ | 150,907 | |||||||||||
Class B | 5,039 | 16,427 | 3,030 | 24,496 | |||||||||||||||
Class C | 18,076 | 60,857 | 10,740 | 89,673 | |||||||||||||||
Class O | 1,122 | 4,110 | 1,746 | 6,978 | |||||||||||||||
Class R | 56 | 191 | 40 | 287 | |||||||||||||||
Class W | 753 | 2,519 | 186 | 3,458 | |||||||||||||||
International Value Choice | |||||||||||||||||||
Class A | $ | 26,517 | $ | 16,571 | $ | — | $ | 43,088 | |||||||||||
Class B | 1,536 | 490 | — | 2,026 | |||||||||||||||
Class C | 6,113 | 3,671 | — | 9,784 | |||||||||||||||
Class I | — | — | 1,947 | 1,947 | |||||||||||||||
Class W | 90 | — | — | 90 | |||||||||||||||
International Value Equity | |||||||||||||||||||
Class A | $ | — | $ | 34,704 | $ | 77,294 | $ | 111,998 | |||||||||||
Class B | — | 1,275 | 2,153 | 3,428 | |||||||||||||||
Class C | — | 24,112 | 45,907 | 70,019 | |||||||||||||||
Class W | — | 5,028 | 7,700 | 12,728 |
USD Notional | Cost | |||||||||
---|---|---|---|---|---|---|---|---|---|---|
Balance at 10/31/12 | 112,500,000 | $ | 1,600,459 | |||||||
Options Purchased | 302,900,000 | 4,181,696 | ||||||||
Options Terminated in Closing Sell Transactions | (37,600,000 | ) | (166,192 | ) | ||||||
Options Expired | (115,800,000 | ) | (1,679,667 | ) | ||||||
Balance at 4/30/13 | 262,000,000 | $ | 3,936,296 |
Number of Contracts | Cost | |||||||||
---|---|---|---|---|---|---|---|---|---|---|
Balance at 10/31/12 | 111,594,000 | $ | 2,800,493 | |||||||
Options Purchased | — | — | ||||||||
Options Terminated in Closing Sell Transactions | (111,594,000 | ) | (2,800,493 | ) | ||||||
Options Expired | — | — | ||||||||
Balance at 4/30/13 | — | $ | — |
USD Notional | Premiums Received | |||||||||
---|---|---|---|---|---|---|---|---|---|---|
Balance at 10/31/12 | 94,700,000 | $ | 861,932 | |||||||
Options Written | 286,700,000 | 1,451,115 | ||||||||
Options Terminated in Closing Purchase Transactions | — | — | ||||||||
Options Expired | (135,600,000 | ) | (943,732 | ) | ||||||
Balance at 4/30/13 | 245,800,000 | $ | 1,369,315 |
Number of Contracts | Premiums Received | |||||||||
---|---|---|---|---|---|---|---|---|---|---|
Balance at 10/31/12 | 8,712,000 | $ | 148,435 | |||||||
Options Written | — | — | ||||||||
Options Terminated in Closing Purchase Transactions | (8,712,000 | ) | (148,435 | ) | ||||||
Options Expired | — | — | ||||||||
Balance at 4/30/13 | — | $ | — |
Fund | Days Utilized | Approximate Average Daily Balance For Days Utilized | Approximate Weighted Average Interest Rate For Days Utilized | |||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Global Bond | 7 | $ | 12,552,857 | 1.12 | % | |||||||||
International Small Cap | 24 | 2,665,833 | 1.16 | |||||||||||
International Value Choice | 2 | 1,425,000 | 1.14 | |||||||||||
International Value Equity | 20 | 572,750 | 1.13 | |||||||||||
International Value | 40 | 1,444,625 | 1.13 | |||||||||||
Russia | 21 | 1,595,714 | 1.14 |
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 Emerging Markets Debt | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Class A | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
11/2/2012(1)-4/30/2013 | 505 | — | 2 | — | — | 507 | 5,068 | — | — | 26 | — | — | — | 5,094 | |||||||||||||||||||||||||||||||||||||||||||||
Class C | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
11/2/2012(1)-4/30/2013 | 301 | — | 2 | — | — | 303 | 3,010 | — | — | 22 | — | — | — | 3,032 | |||||||||||||||||||||||||||||||||||||||||||||
Class I | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
11/2/2012(1)-4/30/2013 | 99,101 | — | 872 | — | — | 99,973 | 991,010 | — | — | 8,889 | — | — | — | 999,899 | |||||||||||||||||||||||||||||||||||||||||||||
Class W | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
11/2/2012(1)-4/30/2013 | 301 | — | 3 | — | — | 304 | 3,010 | — | — | 27 | — | — | — | 3,037 | |||||||||||||||||||||||||||||||||||||||||||||
Diversified International | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Class A | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
4/30/2013 | 110,897 | — | 89,342 | (1,179,463 | ) | — | (979,224 | ) | 1,043,982 | — | — | 827,305 | — | (11,050,713 | ) | — | (9,179,426 | ) | |||||||||||||||||||||||||||||||||||||||||
10/31/2012 | 278,532 | — | 78,991 | (2,272,947 | ) | — | (1,915,424 | ) | 2,428,890 | — | — | 635,082 | — | (19,511,436 | ) | — | (16,447,464 | ) | |||||||||||||||||||||||||||||||||||||||||
Class B | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
4/30/2013 | 1,570 | — | 10,025 | (113,615 | ) | — | (102,020 | ) | 14,722 | — | — | 92,918 | — | (1,062,185 | ) | — | (954,545 | ) | |||||||||||||||||||||||||||||||||||||||||
10/31/2012 | 254 | — | 2,703 | (318,203 | ) | — | (315,246 | ) | 5,008 | — | — | 21,787 | — | (2,723,845 | ) | — | (2,697,050 | ) | |||||||||||||||||||||||||||||||||||||||||
Class C | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
4/30/2013 | 48,448 | — | 30,789 | (439,028 | ) | — | (359,791 | ) | 454,318 | — | — | 285,415 | — | (4,074,838 | ) | — | (3,335,105 | ) | |||||||||||||||||||||||||||||||||||||||||
10/31/2012 | 86,850 | — | 9,250 | (1,467,463 | ) | — | (1,371,363 | ) | 750,958 | — | — | 74,369 | — | (12,439,046 | ) | — | (11,613,719 | ) | |||||||||||||||||||||||||||||||||||||||||
Class I | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
4/30/2013 | 36,863 | — | 18,809 | (238,306 | ) | — | (182,634 | ) | 339,082 | — | — | 173,231 | — | (2,225,271 | ) | — | (1,712,958 | ) | |||||||||||||||||||||||||||||||||||||||||
10/31/2012 | 213,907 | — | 14,745 | (501,901 | ) | — | (273,249 | ) | 1,844,184 | — | — | 117,965 | — | (4,289,264 | ) | — | (2,327,115 | ) | |||||||||||||||||||||||||||||||||||||||||
Class O | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
4/30/2013 | 155,812 | — | — | (45,248 | ) | — | 110,564 | 1,460,710 | — | — | — | — | (420,396 | ) | — | 1,040,314 | |||||||||||||||||||||||||||||||||||||||||||
10/31/2012 | 136,747 | — | — | (115,597 | ) | — | 21,150 | 1,167,904 | — | — | — | — | (984,343 | ) | — | 183,561 | |||||||||||||||||||||||||||||||||||||||||||
Class R | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
4/30/2013 | — | — | 224 | (271 | ) | — | (47 | ) | — | — | — | 2,051 | — | (2,494 | ) | — | (443 | ) | |||||||||||||||||||||||||||||||||||||||||
10/31/2012 | — | — | 171 | (5,471 | ) | — | (5,300 | ) | 40 | — | — | 1,361 | — | (45,113 | ) | — | (43,712 | ) | |||||||||||||||||||||||||||||||||||||||||
Class W | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
4/30/2013 | 5,914 | — | 1,255 | (30,244 | ) | — | (23,075 | ) | 55,000 | — | — | 11,530 | — | (270,668 | ) | — | (204,138 | ) | |||||||||||||||||||||||||||||||||||||||||
10/31/2012 | 17,972 | — | 1,880 | (109,342 | ) | — | (89,490 | ) | 154,098 | — | — | 14,983 | — | (907,427 | ) | — | (738,346 | ) | |||||||||||||||||||||||||||||||||||||||||
Global Bond | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Class A | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
4/30/2013 | 3,261,861 | — | 322,068 | (5,212,210 | ) | — | (1,628,281 | ) | 37,589,977 | — | — | 3,704,603 | — | (60,057,952 | ) | — | (18,763,372 | ) | |||||||||||||||||||||||||||||||||||||||||
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 | ) | |||||||||||||||||||||||||||||||||||||||||
Class B | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
4/30/2013 | 3,524 | — | 1,256 | (48,208 | ) | — | (43,428 | ) | 40,400 | — | — | 14,319 | — | (550,256 | ) | — | (495,537 | ) | |||||||||||||||||||||||||||||||||||||||||
10/31/2012 | 23,090 | — | 7,023 | (71,270 | ) | — | (41,157 | ) | 262,298 | — | — | 79,346 | — | (809,356 | ) | — | (467,712 | ) | |||||||||||||||||||||||||||||||||||||||||
Class C | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
4/30/2013 | 1,318,882 | — | 105,003 | (1,666,675 | ) | — | (242,790 | ) | 15,111,410 | — | — | 1,200,976 | — | (19,031,071 | ) | — | (2,718,685 | ) | |||||||||||||||||||||||||||||||||||||||||
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 | |||||||||||||||||||||||||||||||||||||||||||
Class I | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
4/30/2013 | 13,311,421 | — | 732,211 | (9,945,193 | ) | — | 4,098,439 | 152,309,819 | — | — | 8,388,884 | — | (113,944,535 | ) | — | 46,754,168 | |||||||||||||||||||||||||||||||||||||||||||
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 | |||||||||||||||||||||||||||||||||||||||||||
Class O | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
4/30/2013 | 48,519 | — | 5 | (62,492 | ) | — | (13,968 | ) | 547,172 | — | — | 52 | — | (705,097 | ) | — | (157,873 | ) | |||||||||||||||||||||||||||||||||||||||||
10/31/2012 | 136,364 | — | 6 | (120,315 | ) | — | 16,055 | 1,540,069 | — | — | 72 | — | (1,360,024 | ) | — | 180,117 | |||||||||||||||||||||||||||||||||||||||||||
Class R | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
4/30/2013 | 899 | — | 449 | (4,061 | ) | — | (2,713 | ) | 10,316 | — | — | 5,157 | — | (46,515 | ) | — | (31,042 | ) | |||||||||||||||||||||||||||||||||||||||||
10/31/2012 | 23,244 | — | 535 | (267 | ) | — | 23,512 | 268,156 | — | — | 6,125 | — | (3,004 | ) | — | 271,277 | |||||||||||||||||||||||||||||||||||||||||||
Class W | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
4/30/2013 | 1,667,547 | — | 70,315 | (1,149,785 | ) | — | 588,077 | 18,860,175 | — | — | 792,258 | — | (12,868,515 | ) | — | 6,783,918 | |||||||||||||||||||||||||||||||||||||||||||
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 |
(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 Perspectives | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Class A | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
3/28/2013(1)-4/30/2013 | 9,371 | — | — | — | — | 9,371 | 93,925 | — | — | — | — | — | — | 93,925 | |||||||||||||||||||||||||||||||||||||||||||||
Class C | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
3/28/2013(1)-4/30/2013 | 3,371 | — | — | — | — | 3,371 | 33,660 | — | — | — | — | — | — | 33,660 | |||||||||||||||||||||||||||||||||||||||||||||
Class I | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
3/28/2013(1)-4/30/2013 | 2,011 | — | — | — | — | 2,011 | 20,010 | — | — | — | — | — | — | 20,010 | |||||||||||||||||||||||||||||||||||||||||||||
Class R | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
3/28/2013(1)-4/30/2013 | 2,011 | — | — | — | — | 2,011 | 20,010 | — | — | — | — | — | — | 20,010 | |||||||||||||||||||||||||||||||||||||||||||||
Class W | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
3/28/2013(1)-4/30/2013 | 3,295 | — | — | — | — | 3,295 | 32,749 | — | — | — | — | — | — | 32,749 | |||||||||||||||||||||||||||||||||||||||||||||
International Small Cap | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Class A | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
4/30/2013 | 191,777 | — | 29,435 | (403,273 | ) | — | (182,061 | ) | 7,634,104 | — | — | 1,108,523 | — | (16,019,164 | ) | — | (7,276,537 | ) | |||||||||||||||||||||||||||||||||||||||||
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 | ) | |||||||||||||||||||||||||||||||||||||||||
Class B | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
4/30/2013 | 256 | — | 343 | (12,174 | ) | — | (11,575 | ) | 10,251 | — | — | 13,727 | — | (506,403 | ) | — | (482,425 | ) | |||||||||||||||||||||||||||||||||||||||||
10/31/2012 | 14 | — | 282 | (21,905 | ) | — | (21,609 | ) | 498 | 6,794 | — | 9,527 | — | (830,403 | ) | — | (813,584 | ) | |||||||||||||||||||||||||||||||||||||||||
Class C | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
4/30/2013 | 6,750 | — | 6,221 | (68,935 | ) | — | (55,964 | ) | 245,663 | — | — | 218,739 | — | (2,548,830 | ) | — | (2,084,428 | ) | |||||||||||||||||||||||||||||||||||||||||
10/31/2012 | 18,540 | — | 6,506 | (146,218 | ) | — | (121,172 | ) | 617,771 | 64,016 | — | 193,956 | — | (4,823,984 | ) | — | (3,948,241 | ) | |||||||||||||||||||||||||||||||||||||||||
Class I | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
4/30/2013 | 195,125 | — | 45,724 | (537,469 | ) | — | (296,620 | ) | 7,471,347 | — | — | 1,718,300 | — | (20,827,461 | ) | — | (11,637,814 | ) | |||||||||||||||||||||||||||||||||||||||||
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 | ) | |||||||||||||||||||||||||||||||||||||||||
Class O | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
4/30/2013 | 12,386 | — | — | (5,237 | ) | — | 7,149 | 487,866 | — | — | — | — | (204,984 | ) | — | 282,882 | |||||||||||||||||||||||||||||||||||||||||||
10/31/2012 | 16,552 | — | — | (14,297 | ) | — | 2,255 | 587,931 | 3,932 | — | — | — | (498,432 | ) | — | 93,431 | |||||||||||||||||||||||||||||||||||||||||||
Class W | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
4/30/2013 | 254,781 | — | 13,955 | (251,331 | ) | — | 17,405 | 11,663,331 | — | — | 625,471 | — | (11,609,061 | ) | — | 679,741 | |||||||||||||||||||||||||||||||||||||||||||
10/31/2012 | 231,450 | — | 11,768 | (74,946 | ) | — | 168,272 | 9,272,622 | 74,847 | — | 444,614 | — | (3,196,535 | ) | — | 6,595,548 | |||||||||||||||||||||||||||||||||||||||||||
International Value Choice | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Class A | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
4/30/2013 | 105,459 | — | 34,660 | (1,052,016 | ) | — | (911,897 | ) | 1,000,267 | — | — | 321,993 | — | (9,940,896 | ) | — | (8,618,636 | ) | |||||||||||||||||||||||||||||||||||||||||
10/31/2012 | 857,977 | — | 61,290 | (979,205 | ) | — | (59,938 | ) | 7,602,647 | — | — | 549,769 | — | (8,868,341 | ) | �� | — | (715,925 | ) | ||||||||||||||||||||||||||||||||||||||||
Class B | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
4/30/2013 | 65 | — | 281 | (3,042 | ) | — | (2,696 | ) | 604 | — | — | 2,600 | — | (29,320 | ) | — | (26,116 | ) | |||||||||||||||||||||||||||||||||||||||||
10/31/2012 | 143 | — | 641 | (13,367 | ) | — | (12,583 | ) | 1,279 | — | — | 5,729 | — | (121,644 | ) | — | (114,636 | ) | |||||||||||||||||||||||||||||||||||||||||
Class C | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
4/30/2013 | 2,889 | — | 1,683 | (88,718 | ) | — | (84,146 | ) | 27,051 | — | — | 15,571 | — | (837,462 | ) | — | (794,840 | ) | |||||||||||||||||||||||||||||||||||||||||
10/31/2012 | 32,738 | — | 6,462 | (194,465 | ) | — | (155,265 | ) | 297,645 | — | — | 57,515 | — | (1,754,257 | ) | — | (1,399,097 | ) | |||||||||||||||||||||||||||||||||||||||||
Class I | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
4/30/2013 | 16,080 | — | 1,197 | (74,620 | ) | — | (57,343 | ) | 151,987 | — | — | 11,136 | — | (703,303 | ) | — | (540,180 | ) | |||||||||||||||||||||||||||||||||||||||||
10/31/2012 | 148,611 | — | 6,943 | (384,488 | ) | — | (228,934 | ) | 1,368,545 | — | — | 62,143 | — | (3,475,314 | ) | — | (2,044,626 | ) | |||||||||||||||||||||||||||||||||||||||||
Class W | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
4/30/2013 | 29 | — | — | (1,390 | ) | — | (1,361 | ) | 283 | — | — | — | — | (12,849 | ) | — | (12,566 | ) | |||||||||||||||||||||||||||||||||||||||||
10/31/2012 | 472,053 | — | 221 | (470,611 | ) | — | 1,663 | 4,229,322 | — | — | 1,980 | — | (4,172,613 | ) | — | 58,689 | |||||||||||||||||||||||||||||||||||||||||||
International Value Equity | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Class A | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
4/30/2013 | 81,710 | — | 12,529 | (856,003 | ) | — | (761,764 | ) | 2,217,581 | — | — | 334,035 | — | (23,191,618 | ) | — | (20,640,002 | ) | |||||||||||||||||||||||||||||||||||||||||
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 | ) | |||||||||||||||||||||||||||||||||||||||||
Class B | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
4/30/2013 | — | — | — | (24,319 | ) | — | (24,319 | ) | — | — | — | — | — | (700,614 | ) | — | (700,614 | ) | |||||||||||||||||||||||||||||||||||||||||
10/31/2012 | 1,439 | — | 14,886 | (70,107 | ) | — | (53,782 | ) | 41,253 | 3,331 | — | 432,452 | — | (2,024,962 | ) | — | (1,547,926 | ) | |||||||||||||||||||||||||||||||||||||||||
Class C | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
4/30/2013 | 21,718 | — | — | (512,884 | ) | — | (491,166 | ) | 552,257 | — | — | — | — | (13,033,485 | ) | — | (12,481,228 | ) | |||||||||||||||||||||||||||||||||||||||||
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 | ) |
(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 Equity (continued) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Class I | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
4/30/2013 | 68,489 | — | 5,321 | (396,578 | ) | — | (322,768 | ) | 1,869,677 | — | — | 143,031 | — | (10,759,324 | ) | — | (8,746,616 | ) | |||||||||||||||||||||||||||||||||||||||||
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 | ) | |||||||||||||||||||||||||||||||||||||||||
Class W | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
4/30/2013 | 27,848 | — | 2,299 | (122,670 | ) | — | (92,523 | ) | 778,474 | — | — | 61,695 | — | (3,370,355 | ) | — | (2,530,186 | ) | |||||||||||||||||||||||||||||||||||||||||
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 | ) | |||||||||||||||||||||||||||||||||||||||||
International Value | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Class A | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
4/30/2013 | 389,098 | — | 346,909 | (4,173,570 | ) | — | (3,437,563 | ) | 4,233,761 | — | — | 3,671,746 | — | (45,381,625 | ) | — | (37,476,118 | ) | |||||||||||||||||||||||||||||||||||||||||
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 | ) | |||||||||||||||||||||||||||||||||||||||||
Class B | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
4/30/2013 | 1,070 | — | 679 | (13,510 | ) | — | (11,761 | ) | 11,895 | — | — | 7,319 | — | (147,113 | ) | — | (127,899 | ) | |||||||||||||||||||||||||||||||||||||||||
10/31/2012 | 3,308 | — | 1,473 | (79,061 | ) | — | (74,280 | ) | 33,148 | 1,679 | — | 14,127 | — | (811,502 | ) | — | (762,548 | ) | |||||||||||||||||||||||||||||||||||||||||
Class C | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
4/30/2013 | 48,051 | — | 142,475 | (1,468,312 | ) | — | (1,277,786 | ) | 496,853 | — | — | 1,468,254 | — | (15,417,816 | ) | — | (13,452,709 | ) | |||||||||||||||||||||||||||||||||||||||||
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 | ) | |||||||||||||||||||||||||||||||||||||||||
Class I | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
4/30/2013 | 674,746 | — | 465,200 | (13,325,935 | ) | — | (12,185,989 | ) | 7,289,879 | — | — | 4,890,891 | — | (147,039,853 | ) | — | (134,859,083 | ) | |||||||||||||||||||||||||||||||||||||||||
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 | ) | |||||||||||||||||||||||||||||||||||||||||
Class W | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
4/30/2013 | — | — | 197 | (2,322 | ) | — | (2,125 | ) | — | — | — | 2,079 | — | (24,928 | ) | — | (22,849 | ) | |||||||||||||||||||||||||||||||||||||||||
10/31/2012 | 2,195 | — | 413 | (30,318 | ) | — | (27,710 | ) | 20,689 | 403 | — | 3,889 | — | (300,118 | ) | — | (275,137 | ) | |||||||||||||||||||||||||||||||||||||||||
Russia | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Class A | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
4/30/2013 | 129,162 | — | 44,011 | (1,352,437 | ) | — | (1,179,264 | ) | 4,325,666 | — | — | 1,447,130 | 21,581 | (44,215,168 | ) | — | (38,420,791 | ) | |||||||||||||||||||||||||||||||||||||||||
10/31/2012 | 486,919 | — | — | (2,470,645 | ) | — | (1,983,726 | ) | 15,853,700 | — | — | — | 122,278 | (77,879,747 | ) | — | (61,903,769 | ) | |||||||||||||||||||||||||||||||||||||||||
Class I | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
4/30/2013 | 48,985 | — | 1,175 | (81,189 | ) | — | (31,029 | ) | 1,620,568 | — | — | 38,949 | — | (2,683,595 | ) | — | (1,024,078 | ) | |||||||||||||||||||||||||||||||||||||||||
10/31/2012 | 252,713 | — | — | (291,136 | ) | — | (38,423 | ) | 8,205,811 | — | — | — | 10,849 | (9,318,184 | ) | — | (1,101,524 | ) | |||||||||||||||||||||||||||||||||||||||||
Class W | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
4/30/2013 | 1,210 | — | 12 | (517 | ) | — | 705 | 39,122 | — | — | 408 | 185 | (16,657 | ) | — | 23,058 | |||||||||||||||||||||||||||||||||||||||||||
10/31/2012 | 2,374 | — | — | (419 | ) | — | 1,955 | 69,952 | — | — | — | 204 | (12,552 | ) | — | 57,604 |
Fund | Value of Securities Loaned | Cash Collateral Received | ||||||||
---|---|---|---|---|---|---|---|---|---|---|
International Small Cap | $ | 3,445,324 | $ | 3,655,571 | ||||||
International Value Equity | 575,291 | 588,266 | ||||||||
Russia | 6,530,864 | 7,684,288 |
Six Months Ended April 30, 2013 | Year Ended October 31, 2012 | ||||||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Ordinary Income | Ordinary Income | Long-term Capital Gain | Return of Capital | ||||||||||||||||
Diversified Emerging Markets Debt | $ | 8,964 | $ | — | $ | — | $ | — | |||||||||||
Diversified International | 1,749,755 | 1,060,003 | — | — | |||||||||||||||
Global Bond | 16,687,802 | 27,988,289 | 6,774,863 | 10,078,625 | |||||||||||||||
International Small Cap | 4,393,881 | 5,339,421 | — | — | |||||||||||||||
International Value Choice | 371,925 | 774,425 | — | — | |||||||||||||||
International Value Equity | 682,420 | 32,521,474 | 29,040,761 | — | |||||||||||||||
International Value | 11,769,717 | 18,093,661 | — | — | |||||||||||||||
Russia | 1,710,079 | — | — | — |
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 | |||||||||||||||||||||
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 Equity | 681,489 | — | (27,177,137 | ) | (9,135,728 | ) | Short-term | None | |||||||||||||||||||
(25,904,849 | ) | Long-term | None | ||||||||||||||||||||||||
$ | (35,040,577 | ) | |||||||||||||||||||||||||
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 | ) |
International Small Cap | $ | 821,983 | ||||
International Value Equity | $ | 364,932 | ||||
International Value | $ | 860,591 |
Per Share Amount | Payable Date | Record Date | ||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Global Bond | ||||||||||||||
Class A | $0.0353 | May 2, 2013 | April 30, 2013 | |||||||||||
Class B | $0.0281 | May 2, 2013 | April 30, 2013 | |||||||||||
Class C | $0.0283 | May 2, 2013 | April 30, 2013 | |||||||||||
Class I | $0.0383 | May 2, 2013 | April 30, 2013 | |||||||||||
Class O | $0.0354 | May 2, 2013 | April 30, 2013 | |||||||||||
Class R | $0.0328 | May 2, 2013 | April 30, 2013 | |||||||||||
Class W | $0.0377 | May 2, 2013 | April 30, 2013 | |||||||||||
Class A | $0.0353 | June 4, 2013 | May 31, 2013 | |||||||||||
Class B | $0.0283 | June 4, 2013 | May 31, 2013 | |||||||||||
Class C | $0.0282 | June 4, 2013 | May 31, 2013 | |||||||||||
Class I | $0.0384 | June 4, 2013 | May 31, 2013 | |||||||||||
Class O | $0.0355 | June 4, 2013 | May 31, 2013 | |||||||||||
Class R | $0.0335 | June 4, 2013 | May 31, 2013 | |||||||||||
Class W | $0.0379 | June 4, 2013 | May 31, 2013 |
AS OF APRIL 30, 2013 (UNAUDITED)
Shares | | | | Value | | Percentage of Net Assets | |||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
MUTUAL FUNDS: 87.0% | |||||||||||||||||||
Affiliated Investment Companies: 87.0% | |||||||||||||||||||
8,361 | ING Emerging Markets Corporate Debt Fund — Class P | $ | 88,372 | 8.4 | |||||||||||||||
41,572 | ING Emerging Markets Hard Currency Sovereign Debt Fund — Class P | 430,267 | 40.9 | ||||||||||||||||
37,550 | ING Emerging Markets Local Currency Debt Fund — Class P | 395,779 | 37.7 | ||||||||||||||||
Total Mutual Funds | |||||||||||||||||||
(Cost $891,303) | 914,418 | 87.0 | |||||||||||||||||
SHORT-TERM INVESTMENTS: 4.5% | |||||||||||||||||||
Mutual Funds: 4.5% | |||||||||||||||||||
47,000 | BlackRock Liquidity Funds, TempFund, Institutional Class | ||||||||||||||||||
(Cost $47,000) | $ | 47,000 | 4.5 | ||||||||||||||||
Total Short-Term Investments | |||||||||||||||||||
(Cost $47,000) | 47,000 | 4.5 | |||||||||||||||||
Total Investments in Securities (Cost $938,303) | $ | 961,418 | 91.5 | ||||||||||||||||
Assets in Excess of Other Liabilities | 88,847 | 8.5 | |||||||||||||||||
Net Assets | $ | 1,050,265 | 100.0 |
Cost for federal income tax purposes is $938,420. |
Net unrealized appreciation consists of: | ||||||
Gross Unrealized Appreciation | $ | 22,998 | ||||
Gross Unrealized Depreciation | — | |||||
Net Unrealized Appreciation | $ | 22,998 |
Quoted Prices in Active Markets for Identical Investments (Level 1) | Significant Other Observable Inputs (Level 2) | Significant Unobservable Inputs (Level 3) | Fair Value at April 30, 2013 | |||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Asset Table | ||||||||||||||||||
Investments, at fair value | ||||||||||||||||||
Mutual Funds | $ | 914,418 | $ | — | $ | — | $ | 914,418 | ||||||||||
Short-Term Investments | 47,000 | — | — | 47,000 | ||||||||||||||
Total Investments, at fair value | $ | 961,418 | $ | — | $ | — | $ | 961,418 |
ˆ | See Note 2, “Significant Accounting Policies” in the Notes to Financial Statements for additional information. |
AS OF APRIL 30, 2013 (UNAUDITED)
Shares | | | | Value | | Percentage of Net Assets | |||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
EXCHANGE-TRADED FUNDS: 4.4% | |||||||||||||||||||
76,400 | iShares MSCI EAFE Value Index | $ | 4,038,504 | 4.4 | |||||||||||||||
Total Exchange- Traded Funds | |||||||||||||||||||
(Cost $3,602,870) | 4,038,504 | 4.4 | |||||||||||||||||
MUTUAL FUNDS: 95.6% | |||||||||||||||||||
Affiliated Investment Companies: 95.6% | |||||||||||||||||||
1,193,495 | ING Emerging Markets Equity Fund — Class I | 13,796,804 | 15.1 | ||||||||||||||||
3,550,944 | ING International Core Fund — Class I | 36,574,719 | 40.1 | ||||||||||||||||
1,662,037 | ING International Growth Fund — Class I | 18,265,783 | 20.0 | ||||||||||||||||
107,812 | ING International SmallCap Fund — Class I | 4,584,158 | 5.0 | ||||||||||||||||
1,219,091 | ING International Value Fund — Class I | 14,019,546 | 15.4 | ||||||||||||||||
Total Mutual Funds | |||||||||||||||||||
(Cost $74,547,031) | 87,241,010 | 95.6 | |||||||||||||||||
Total Investments in Securities (Cost $78,149,901) | $ | 91,279,514 | 100.0 | ||||||||||||||||
Liabilities in Excess of Other Assets | (24,589 | ) | — | ||||||||||||||||
Net Assets | $ | 91,254,925 | 100.0 |
Cost for federal income tax purposes is $79,666,648. |
Net unrealized appreciation consists of: | ||||||
Gross Unrealized Appreciation | $ | 11,612,866 | ||||
Gross Unrealized Depreciation | — | |||||
Net Unrealized Appreciation | $ | 11,612,866 |
Quoted Prices in Active Markets for Identical Investments (Level 1) | Significant Other Observable Inputs (Level 2) | Significant Unobservable Inputs (Level 3) | Fair Value at April 30, 2013 | |||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Asset Table | ||||||||||||||||||
Investments, at fair value | ||||||||||||||||||
Exchange-Traded Funds | $ | 4,038,504 | $ | — | $ | — | $ | 4,038,504 | ||||||||||
Mutual Funds | 87,241,010 | — | — | 87,241,010 | ||||||||||||||
Total Investments, at fair value | $ | 91,279,514 | $ | — | $ | — | $ | 91,279,514 |
ˆ | See Note 2, “Significant Accounting Policies” in the Notes to Financial Statements for additional information. |
Issuer | Beginning Market Value at 10/31/12 | Purchases at Cost | Sales at Cost | Change in Unrealized Appreciated/ (Depreciation) | Ending Market Value at 4/30/13 | Investment Income | Realized Gains/ (Losses) | Net Capital Gain Distributions | ||||||||||||||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
ING Emerging Markets Equity Fund — Class I | $ | 14,559,150 | $ | 797,061 | $ | (2,298,115 | ) | $ | 738,708 | $ | 13,796,804 | $ | 23,976 | $ | 258,860 | $ | — | |||||||||||||||||
ING International Core Fund — Class I | 38,882,434 | 912,723 | (7,008,999 | ) | 3,788,561 | 36,574,719 | 527,047 | (190,398 | ) | 192,712 | ||||||||||||||||||||||||
ING International Growth Fund — Class I | 19,418,723 | 537,131 | (3,630,931 | ) | 1,940,860 | 18,265,783 | 311,635 | 69,752 | — | |||||||||||||||||||||||||
$ | 72,860,307 | $ | 2,246,915 | $ | (12,938,045 | ) | $ | 6,468,129 | $ | 68,637,306 | $ | 862,658 | $ | 138,214 | $ | 192,712 |
AS OF APRIL 30, 2013 (UNAUDITED)
Principal Amount† | | | | Value | | Percentage of Net Assets | |||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
CORPORATE BONDS/NOTES: 20.0% | |||||||||||||||||||
Bermuda: 0.1% | |||||||||||||||||||
1,000,000 | # | NCL Corp. Ltd., 5.000%, 02/15/18 | $ | 1,043,750 | 0.1 | ||||||||||||||
Brazil: 1.2% | |||||||||||||||||||
BRL 4,000,000 | # | Banco Votorantim SA, 6.250%, 05/16/16 | 2,341,570 | 0.3 | |||||||||||||||
2,400,000 | # | BC Luxco 1 SA, 7.375%, 01/29/20 | 2,508,000 | 0.3 | |||||||||||||||
1,575,000 | # | Itau Unibanco Holding SA/Cayman Island, 5.125%, 05/13/23 | 1,639,969 | 0.2 | |||||||||||||||
500,000 | # | JBS USA LLC/JBS USA Finance, Inc., 8.250%, 02/01/20 | 555,000 | 0.1 | |||||||||||||||
1,028,750 | # | QGOG Atlantic/Alaskan Rigs Ltd., 5.250%, 07/30/18 | 1,078,644 | 0.1 | |||||||||||||||
1,340,000 | Other Securities | 1,459,848 | 0.2 | ||||||||||||||||
9,583,031 | 1.2 | ||||||||||||||||||
Canada: 0.2% | |||||||||||||||||||
1,000,000 | # | Bombardier, Inc., 6.125%, 01/15/23 | 1,086,250 | 0.1 | |||||||||||||||
822,000 | Other Securities | 830,937 | 0.1 | ||||||||||||||||
1,917,187 | 0.2 | ||||||||||||||||||
Cayman Islands: 0.2% | |||||||||||||||||||
665,000 | # | Sable International Finance Ltd., 8.750%, 02/01/20 | 756,437 | 0.1 | |||||||||||||||
750,000 | Other Securities | 818,438 | 0.1 | ||||||||||||||||
1,574,875 | 0.2 | ||||||||||||||||||
Chile: 0.1% | |||||||||||||||||||
375,000 | # | Automotores Gildemeister SA, 6.750%, 01/15/23 | 385,313 | 0.1 | |||||||||||||||
China: 0.0% | |||||||||||||||||||
250,000 | # | Mega Advance Investments Ltd., 6.375%, 05/12/41 | 324,636 | 0.0 | |||||||||||||||
Colombia: 0.3% | |||||||||||||||||||
1,500,000 | # | Colombia Telecomunicaciones SA ESP, 5.375%, 09/27/22 | 1,507,500 | 0.2 | |||||||||||||||
719,000 | # | Empresa de Energia de Bogota SA, 6.125%, 11/10/21 | 803,483 | 0.1 | |||||||||||||||
2,310,983 | 0.3 | ||||||||||||||||||
Dominican Republic: 0.1% | |||||||||||||||||||
1,000,000 | # | Banco de Reservas de LA Republica Dominicana, 7.000%, 02/01/23 | 1,028,500 | 0.1 | |||||||||||||||
Hong Kong: 0.2% | |||||||||||||||||||
1,500,000 | # | Hutchison Whampoa International 12 Ltd., 6.000%, 05/29/49 | 1,616,250 | 0.2 | |||||||||||||||
India: 0.3% | |||||||||||||||||||
1,300,000 | # | ICICI Bank Ltd./Dubai, 4.700%, 02/21/18 | 1,384,799 | 0.2 | |||||||||||||||
1,392,000 | # | Reliance Industries Ltd., 5.875%, 12/31/49 | 1,381,560 | 0.1 | |||||||||||||||
2,766,359 | 0.3 | ||||||||||||||||||
Ireland: 0.0% | |||||||||||||||||||
250,000 | # | Ardagh Packaging Finance PLC, 7.375%, 10/15/17 | 276,562 | 0.0 | |||||||||||||||
Italy: 0.0% | |||||||||||||||||||
277,000 | Other Securities | 291,251 | 0.0 | ||||||||||||||||
Kazakhstan: 0.2% | |||||||||||||||||||
1,000,000 | # | Development Bank of Kazakhstan JSC, 4.125%, 12/10/22 | 990,500 | 0.1 | |||||||||||||||
750,000 | # | KazMunayGas National Co. JSC, 4.400%, 04/30/23 | 754,366 | 0.1 | |||||||||||||||
1,744,866 | 0.2 | ||||||||||||||||||
Mexico: 0.3% | |||||||||||||||||||
875,000 | # | BBVA, 6.750%, 09/30/22 | 1,008,438 | 0.1 | |||||||||||||||
1,175,000 | # | Mexichem SAB de CV, 4.875%, 09/19/22 | 1,280,750 | 0.2 | |||||||||||||||
2,289,188 | �� | 0.3 | |||||||||||||||||
Netherlands: 0.2% | |||||||||||||||||||
325,000 | # | Carlson Wagonlit BV, 6.875%, 06/15/19 | 346,125 | 0.0 | |||||||||||||||
1,133,000 | Other Securities | 1,289,899 | 0.2 | ||||||||||||||||
1,636,024 | 0.2 | ||||||||||||||||||
Paraguay: 0.3% | |||||||||||||||||||
2,600,000 | # | Telefonica Celular del Paraguay SA, 6.750%, 12/13/22 | 2,840,500 | 0.3 | |||||||||||||||
Russia: 0.4% | |||||||||||||||||||
1,150,000 | # | EuroChem Mineral & Chemical Co. OJSC via EuroChem GI Ltd., 5.125%, 12/12/17 | 1,183,350 | 0.1 | |||||||||||||||
1,300,000 | # | Rosneft Oil Co. via Rosneft International Finance Ltd., 4.199%, 03/06/22 | 1,309,750 | 0.2 | |||||||||||||||
400,000 | # | Gazprom OAO Via Gaz Capital SA, 5.999%, 01/23/21 | 456,500 | 0.1 | |||||||||||||||
2,949,600 | 0.4 | ||||||||||||||||||
South Africa: 0.0% | |||||||||||||||||||
100,000 | Other Securities | 100,923 | 0.0 | ||||||||||||||||
Switzerland: 0.2% | |||||||||||||||||||
1,143,000 | Other Securities | 1,327,809 | 0.2 |
AS OF APRIL 30, 2013 (UNAUDITED) (CONTINUED)
Principal Amount† | | | | Value | | Percentage of Net Assets | |||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
CORPORATE BONDS/NOTES: (continued) | |||||||||||||||||||
Turkey: 0.1% | |||||||||||||||||||
500,000 | # | Turkiye Is Bankasi, 6.000%, 10/24/22 | $ | 548,750 | 0.1 | ||||||||||||||
United Arab Emirates: 0.6% | |||||||||||||||||||
1,100,000 | # | Abu Dhabi National Energy Co., 2.500%, 01/12/18 | 1,118,700 | 0.1 | |||||||||||||||
1,080,000 | # | Abu Dhabi National Energy Co., 5.875%, 12/13/21 | 1,291,950 | 0.2 | |||||||||||||||
732,000 | # | Dolphin Energy Ltd., 5.500%, 12/15/21 | 869,250 | 0.1 | |||||||||||||||
1,611,000 | # | IPIC GMTN Ltd., 5.500%, 03/01/22 | 1,913,062 | 0.2 | |||||||||||||||
5,192,962 | 0.6 | ||||||||||||||||||
United Kingdom: 1.0% | |||||||||||||||||||
627,000 | # | Barclays Bank PLC, 6.050%, 12/04/17 | 712,782 | 0.1 | |||||||||||||||
250,000 | # | Ineos Finance PLC, 8.375%, 02/15/19 | 282,813 | 0.0 | |||||||||||||||
665,000 | # | Lloyds TSB Bank PLC, 6.500%, 09/14/20 | 761,067 | 0.1 | |||||||||||||||
936,000 | # | Standard Chartered PLC, 3.950%, 01/11/23 | 958,337 | 0.1 | |||||||||||||||
5,500,000 | Other Securities | 5,691,537 | 0.7 | ||||||||||||||||
8,406,536 | 1.0 | ||||||||||||||||||
United States: 14.0% | |||||||||||||||||||
3,762,000 | AT&T, Inc., 2.500%–5.350%, 08/15/15–09/01/40 | 4,074,367 | 0.5 | ||||||||||||||||
1,750,000 | Bank of America Corp., 5.420%–5.625%, 03/15/17–07/01/20 | 2,064,393 | 0.2 | ||||||||||||||||
2,749,000 | # | Barrick North America Finance LLC, 5.750%, 05/01/43 | 2,772,996 | 0.3 | |||||||||||||||
250,000 | # | Chesapeake Oilfield Operating LLC/Chesapeake Oilfield Finance, Inc., 7.125%, 11/15/19 | 258,750 | 0.0 | |||||||||||||||
3,423,000 | Citigroup, Inc., 4.050%–8.500%, 09/15/14–07/30/22 | 3,691,299 | 0.4 | ||||||||||||||||
2,641,000 | Comcast Corp., 5.700%–6.550%, 05/15/18–07/01/39 | 3,315,722 | 0.4 | ||||||||||||||||
2,159,000 | # | COX Communications, Inc., 2.950%, 06/30/23 | 2,159,274 | 0.3 | |||||||||||||||
560,000 | # | DISH DBS Corp., 4.250%, 04/01/18 | 553,000 | 0.1 | |||||||||||||||
1,000,000 | # | Eagle Spinco, Inc., 4.625%, 02/15/21 | 1,053,750 | 0.1 | |||||||||||||||
1,128,000 | # | Freeport-McMoRan Copper & Gold, Inc., 3.875%, 03/15/23 | 1,139,461 | 0.1 | |||||||||||||||
600,000 | # | Fresenius Medical Care US Finance II, Inc., 5.625%, 07/31/19 | 673,500 | 0.1 | |||||||||||||||
2,493,000 | General Electric Capital Corp., 4.375%, 09/16/20 | 2,833,075 | 0.3 | ||||||||||||||||
549,000 | General Electric Capital Corp., 6.750%, 03/15/32 | 720,826 | 0.1 | ||||||||||||||||
1,601,000 | General Electric Co., 2.700%, 10/09/22 | 1,652,539 | 0.2 | ||||||||||||||||
991,000 | # | Hyatt Hotels Corp., 6.875%, 08/15/19 | 1,184,227 | 0.1 | |||||||||||||||
3,625,000 | JPMorgan Chase & Co., 3.375%–5.875%, 06/13/16–05/01/23 | 3,933,674 | 0.5 | ||||||||||||||||
500,000 | # | Kinder Morgan Finance Co., LLC, 6.000%, 01/15/18 | 557,903 | 0.1 | |||||||||||||||
500,000 | # | Lennar Corp., 4.125%, 12/01/18 | 511,250 | 0.1 | |||||||||||||||
2,153,000 | Morgan Stanley, 3.750%–7.300%, 05/13/19–02/25/23 | 2,353,970 | 0.3 | ||||||||||||||||
1,000,000 | # | Nielsen Finance, LLC/ Nielsen Finance Co., 4.500%, 10/01/20 | 1,026,250 | 0.1 | |||||||||||||||
1,100,000 | # | Sealed Air Corp., 8.375%, 09/15/21 | 1,292,500 | 0.2 | |||||||||||||||
2,186,000 | Time Warner, Inc., 5.875%–6.500%, 11/15/36–11/15/40 | 2,650,868 | 0.3 | ||||||||||||||||
1,325,000 | # | Turlock Corp., 4.150%, 11/02/42 | 1,352,523 | 0.2 | |||||||||||||||
400,000 | # | Valeant Pharmaceuticals International, 7.000%, 10/01/20 | 444,000 | 0.1 | |||||||||||||||
720,000 | # | Valeant Pharmaceuticals International, 7.250%, 07/15/22 | 819,000 | 0.1 | |||||||||||||||
735,000 | # | XM Satellite Radio, Inc., 7.625%, 11/01/18 | 819,525 | 0.1 | |||||||||||||||
65,176,000 | Other Securities | 72,095,080 | 8.7 | ||||||||||||||||
116,003,722 | 14.0 | ||||||||||||||||||
Total Corporate Bonds/Notes | |||||||||||||||||||
(Cost $155,316,488) | 166,159,577 | 20.0 | |||||||||||||||||
COLLATERALIZED MORTGAGE OBLIGATIONS: 7.9% | |||||||||||||||||||
United States: 7.9% | |||||||||||||||||||
1,685,000 | # | American General Mortgage Loan Trust, 5.750%, 09/25/48 | 1,787,806 | 0.2 | |||||||||||||||
1,578,283 | Banc of America Alternative Loan Trust, 4.750%, 02/25/19 | 1,590,324 | 0.2 |
AS OF APRIL 30, 2013 (UNAUDITED) (CONTINUED)
Principal Amount† | | | | Value | | Percentage of Net Assets | |||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
COLLATERALIZED MORTGAGE OBLIGATIONS: (continued) | |||||||||||||||||||
United States: (continued) | |||||||||||||||||||
710,000 | Banc of America Merrill Lynch Commercial Mortgage, Inc., 5.359%, 09/10/47 | $ | 763,963 | 0.1 | |||||||||||||||
309,839 | Banc of America Funding Corp., 5.750%, 10/25/35–11/25/35 | 310,966 | 0.0 | ||||||||||||||||
2,030,000 | # | BB-UBS Trust, 2.892%, 06/05/30 | 2,087,853 | 0.3 | |||||||||||||||
770,857 | Bear Stearns Adjustable Rate Mortgage Trust, 2.643%, 08/25/35 | 776,490 | 0.1 | ||||||||||||||||
2,644,200 | # | Bear Stearns Commercial Mortgage Securities, 5.483%, 07/11/42 | 2,726,179 | 0.3 | |||||||||||||||
1,033,000 | # | Bear Stearns Commercial Mortgage Securities, 5.765%, 04/12/38 | 1,094,011 | 0.2 | |||||||||||||||
5,940,333 | ˆ | COMM 2013-LC6 Mortgage Trust, 1.959%, 01/10/46 | 657,572 | 0.1 | |||||||||||||||
5,462,647 | ˆ | Commercial Mortgage Pass Through Certificates, 2.090%, 12/10/45 | 668,818 | 0.1 | |||||||||||||||
5,942,491 | ˆ | Commercial Mortgage Pass Through Certificates, 2.173%, 10/15/45 | 781,622 | 0.1 | |||||||||||||||
8,041,966 | ˆ | Commercial Mortgage Pass Through Certificates, 2.429%, 05/15/45 | 1,102,389 | 0.1 | |||||||||||||||
1,434,062 | # | Credit Suisse Mortgage Capital Certificates, 4.677%, 07/27/37 | 1,446,010 | 0.2 | |||||||||||||||
660,000 | # | CSMC Series 2009-RR3, 5.342%, 12/15/43 | 749,090 | 0.1 | |||||||||||||||
531,118 | # | First Union National Bank Commercial Mortgage, 6.000%, 12/12/33 | 533,798 | 0.1 | |||||||||||||||
553,000 | GS Mort Sec Corp. II Commercial Mort Ps Thr Cert Ser 2004-GG2, 5.826%, 08/10/38 | 512,072 | 0.1 | ||||||||||||||||
6,038,246 | ˆ | GS Mortgage Securities Corp. II, 2.567%, 11/10/45 | 911,509 | 0.1 | |||||||||||||||
1,620,000 | # | GS MTG, 1.048%, 11/08/29 | 1,632,141 | 0.2 | |||||||||||||||
1,630,000 | # | Heller Financial Commercial Mortgage Asset, 6.500%, 05/15/31 | 1,652,755 | 0.2 | |||||||||||||||
1,090,000 | # | JP Morgan Chase Com Mort Sec Corp. Ps Thr Certs Ser 2003-LN1, 5.690%, 10/15/37 | 947,084 | 0.1 | |||||||||||||||
9,219,645 | ˆ | JP Morgan Chase Commercial Mortgage Securities Corp., 2.102%, 12/15/47 | 1,117,474 | 0.2 | |||||||||||||||
5,440,000 | #,ˆ | JP Morgan Chase Commercial Mortgage Securities Corp., 0.447%, 12/15/47 | 166,126 | 0.0 | |||||||||||||||
111,043 | JP Morgan Chase Commerical Mortgage Securities Corp., 5.247%, 01/12/43 | 112,005 | 0.0 | ||||||||||||||||
269,156 | # | JPMorgan Chase Commerical Mortgage Securities Corp., 6.135%, 07/12/37 | 269,939 | 0.0 | |||||||||||||||
156,356 | JP Morgan Chase Commercial Mortgage Securities Corp., 4.903%, 10/15/42 | 156,273 | 0.0 | ||||||||||||||||
850,000 | LB-UBS Commercial Mortgage Trust 2005-C3, 5.013%, 07/15/40 | 728,492 | 0.1 | ||||||||||||||||
1,180,000 | # | LB-UBS Commercial Mortgage Trust, 5.224%, 07/15/37 | 1,161,965 | 0.1 | |||||||||||||||
453,000 | # | LB-UBS Commercial Mortgage Trust, 5.413%, 02/15/40 | 410,418 | 0.1 | |||||||||||||||
4,549,455 | LB-UBS Commercial Mortgage Trust, 4.943%–6.082%, 10/15/36–07/15/40 | 4,708,823 | 0.5 | ||||||||||||||||
GBP 2,841,000 | MBNA Credit Card Master Note Trust, 6.100%, 10/19/15 | 4,428,790 | 0.5 | ||||||||||||||||
8,260,617 | ˆ | Morgan Stanley Bank of America Merrill Lynch Trust, 1.666%, 12/15/48 | 700,628 | 0.1 | |||||||||||||||
1,520,000 | Morgan Stanley Capital I, Inc., 5.542%, 06/15/38 | 1,569,110 | 0.2 | ||||||||||||||||
1,450,000 | # | Morgan Stanley Capital I, Inc., 3.629%, 01/11/32 | 1,486,844 | 0.2 | |||||||||||||||
1,020,000 | # | Morgan Stanley Capital I, 5.420%, 09/15/47 | 1,130,938 | 0.1 | |||||||||||||||
930,000 | # | Morgan Stanley Capital I, 5.420%, 09/15/47 | 1,008,616 | 0.1 | |||||||||||||||
1,330,000 | # | Morgan Stanley Capital I, 5.626%, 01/13/41 | 1,346,263 | 0.2 | |||||||||||||||
2,650,000 | # | Morgan Stanley Reremic Trust, 5.466%, 12/17/43 | 2,706,825 | 0.3 |
AS OF APRIL 30, 2013 (UNAUDITED) (CONTINUED)
Principal Amount† | | | | Value | | Percentage of Net Assets | |||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
COLLATERALIZED MORTGAGE OBLIGATIONS: (continued) | |||||||||||||||||||
United States: (continued) | |||||||||||||||||||
3,582,252 | Morgan Stanley Capital I, 5.172%–5.763%, 01/14/42–04/12/49 | $ | 3,696,637 | 0.4 | |||||||||||||||
370,000 | # | Motel 6 Trust, 1.948%, 10/05/25 | 376,407 | 0.0 | |||||||||||||||
960,000 | # | RBSCF Trust, 5.305%, 01/16/49 | 973,089 | 0.1 | |||||||||||||||
2,080,000 | # | Salomon Brothers Mortgage Securities VII, Inc., 7.000%, 05/18/32 | 2,105,109 | 0.3 | |||||||||||||||
11,888,710 | #, ˆ | UBS-Barclays Commercial Mortgage Trust, 2.359%, 08/10/49 | 1,675,023 | 0.2 | |||||||||||||||
11,198,846 | #, ˆ | Wells Fargo Commercial Mortgage Trust, 2.314%, 10/15/45 | 1,525,031 | 0.2 | |||||||||||||||
377,042 | Wells Fargo Mortgage Backed Securities Trust, 5.000%, 11/25/36 | 389,107 | 0.0 | ||||||||||||||||
5,217,807 | #, ˆ | Wells Fargo Mortgage Backed Securities Trust, 2.410%, 08/15/45 | 694,912 | 0.1 | |||||||||||||||
1,430,255 | Wells Fargo Mortgage-Backed Securities Trust, 5.330%, 08/25/35 | 1,442,773 | 0.2 | ||||||||||||||||
6,406,784 | Other Securities | 6,442,949 | 0.8 | ||||||||||||||||
Total Collateralized Mortgage Obligations | |||||||||||||||||||
(Cost $64,112,350) | 65,263,018 | 7.9 | |||||||||||||||||
FOREIGN GOVERNMENT BONDS: 43.8% | |||||||||||||||||||
Angola: 0.1% | |||||||||||||||||||
1,000,000 | Other Securities | 1,102,500 | 0.1 | ||||||||||||||||
Argentina: 0.5% | |||||||||||||||||||
880,000 | City of Buenos Aires, 9.950%, 03/01/17 | 783,200 | 0.1 | ||||||||||||||||
5,929,826 | Argentina Government International Bond, 2.500%–8.280%, 09/12/13–12/31/38 | 3,605,422 | 0.4 | ||||||||||||||||
4,388,622 | 0.5 | ||||||||||||||||||
Aruba: 0.1% | |||||||||||||||||||
470,000 | # | Aruba Government Bond, 4.625%, 09/14/23 | 489,505 | 0.1 | |||||||||||||||
Austria: 0.9% | |||||||||||||||||||
EUR 4,940,000 | # | Austria Government Bond, 3.200%, 02/20/17 | 7,210,749 | 0.9 | |||||||||||||||
Azerbaijan: 0.1% | |||||||||||||||||||
840,000 | Other Securities | 905,100 | 0.1 | ||||||||||||||||
Belarus: 0.3% | |||||||||||||||||||
2,373,000 | Other Securities | 2,506,968 | 0.3 | ||||||||||||||||
Belgium: 1.1% | |||||||||||||||||||
EUR 7,030,000 | Belgium Government Bond, 1.250%, 06/22/18 | 9,456,749 | 1.1 | ||||||||||||||||
Belize: 0.1% | |||||||||||||||||||
1,486,000 | # | Belize Government International Bond, 5.000%, 02/20/38 | 1,051,345 | 0.1 | |||||||||||||||
Brazil: 7.0% | |||||||||||||||||||
BRL 106,917,000 | Brazil Notas do Tesouro Nacional Series F, 10.000%, 01/01/23 | 54,470,639 | 6.6 | ||||||||||||||||
3,615,000 | Brazilian Government International Bond, 2.625%, 01/05/23 | 3,613,192 | 0.4 | ||||||||||||||||
320,000 | Other Securities | 334,237 | 0.0 | ||||||||||||||||
58,418,068 | 7.0 | ||||||||||||||||||
Canada: 0.0% | |||||||||||||||||||
CAD 30,000 | Other Securities | 39,677 | 0.0 | ||||||||||||||||
Chile: 0.2% | |||||||||||||||||||
450,000 | # | Corp Nacional del Cobre de Chile, 4.250%, 07/17/42 | 440,176 | 0.1 | |||||||||||||||
770,000 | Other Securities | 832,840 | 0.1 | ||||||||||||||||
1,273,016 | 0.2 | ||||||||||||||||||
Colombia: 0.3% | |||||||||||||||||||
1,543,000 | Other Securities | 2,115,097 | 0.3 | ||||||||||||||||
Costa Rica: 0.1% | |||||||||||||||||||
750,000 | # | Costa Rica Government International Bond, 4.250%–5.625%, 01/26/23–04/30/43 | 770,200 | 0.1 | |||||||||||||||
Croatia: 0.3% | |||||||||||||||||||
2,400,000 | # | Hrvatska Elektroprivreda, 6.000%, 11/09/17 | 2,562,000 | 0.3 | |||||||||||||||
300,000 | Other Securities | 340,500 | 0.0 | ||||||||||||||||
2,902,500 | 0.3 | ||||||||||||||||||
Dominican Republic: 1.0% | |||||||||||||||||||
DOP 50,000,000 | Dominican Republic International Bond, 14.000%, 10/18/19 | 1,301,003 | 0.1 | ||||||||||||||||
DOP 116,000,000 | Dominican Republic International Bond, 15.500%, 04/19/19 | 3,182,434 | 0.4 | ||||||||||||||||
DOP 158,000,000 | # | Dominican Republic International Bond, 14.000%, 10/18/19 | 4,111,169 | 0.5 | |||||||||||||||
8,594,606 | 1.0 |
AS OF APRIL 30, 2013 (UNAUDITED) (CONTINUED)
Principal Amount† | | | | Value | | Percentage of Net Assets | |||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
FOREIGN GOVERNMENT BONDS: (continued) | |||||||||||||||||||
Ecuador: 0.1% | |||||||||||||||||||
800,000 | Other Securities | $ | 844,000 | 0.1 | |||||||||||||||
Gabon: 0.2% | |||||||||||||||||||
1,200,000 | Other Securities | 1,470,000 | 0.2 | ||||||||||||||||
Germany: 3.6% | |||||||||||||||||||
EUR 4,470,000 | Bundesrepublik Deutschland, 1.500%, 09/04/22 | 6,079,113 | 0.7 | ||||||||||||||||
EUR 5,120,000 | Bundesrepublik Deutschland, 2.500%, 07/04/44 | 7,385,111 | 0.9 | ||||||||||||||||
EUR 10,590,000 | Bundesrepublik Deutschland, 4.000%, 01/04/18 | 16,358,065 | 2.0 | ||||||||||||||||
29,822,289 | 3.6 | ||||||||||||||||||
Guatemala: 0.2% | |||||||||||||||||||
744,000 | Guatemala Government Bond, 8.125%, 10/06/34 | 1,004,400 | 0.1 | ||||||||||||||||
400,000 | # | Guatemala Government Bond, 4.875%, 02/13/28 | 408,000 | 0.1 | |||||||||||||||
1,412,400 | 0.2 | ||||||||||||||||||
Hungary: 0.2% | |||||||||||||||||||
1,804,000 | Other Securities | 1,973,765 | 0.2 | ||||||||||||||||
Indonesia: 0.4% | |||||||||||||||||||
2,485,000 | Indonesia Government International Bond, 5.250%–11.625%, 03/04/19–01/17/42 | 3,343,938 | 0.4 | ||||||||||||||||
Iraq: 0.1% | |||||||||||||||||||
700,000 | Other Securities | 644,000 | 0.1 | ||||||||||||||||
Ivory Coast: 0.1% | |||||||||||||||||||
1,232,000 | Other Securities(a) | 1,185,800 | 0.1 | ||||||||||||||||
Japan: 1.3% | |||||||||||||||||||
JPY 980,700,000 | Japan Government Thirty Year Bond, 1.800%, 03/20/43 | 10,474,421 | 1.3 | ||||||||||||||||
Kazakhstan: 0.1% | |||||||||||||||||||
670,000 | # | Kazakhstan Temir Zholy Finance BV, 6.950%, 07/10/42 | 795,625 | 0.1 | |||||||||||||||
Latvia: 0.1% | |||||||||||||||||||
600,000 | # | Republic of Latvia, 2.750%, 01/12/20 | 601,500 | 0.1 | |||||||||||||||
Lebanon: 0.2% | |||||||||||||||||||
1,725,000 | Other Securities | 1,770,500 | 0.2 | ||||||||||||||||
Lithuania: 0.2% | |||||||||||||||||||
800,000 | # | Lithuania Government International Bond, 5.125%, 09/14/17 | 903,000 | 0.1 | |||||||||||||||
600,000 | Other Securities | 768,150 | 0.1 | ||||||||||||||||
1,671,150 | 0.2 | ||||||||||||||||||
Malaysia: 2.1% | |||||||||||||||||||
MYR 14,139,000 | Z | Bank Negara Malaysia Monetary Notes, 2.790%, 10/22/13 | 4,585,037 | 0.5 | |||||||||||||||
MYR 40,020,000 | Malaysia Government Bond, 3.461%, 07/31/13 | 13,167,310 | 1.6 | ||||||||||||||||
17,752,347 | 2.1 | ||||||||||||||||||
Mexico: 0.7% | |||||||||||||||||||
359,000 | # | Comision Federal de Electricidad, 5.750%, 02/14/42 | 407,465 | 0.0 | |||||||||||||||
2,520,000 | Pemex Project Funding Master Trust, 6.625%, 06/15/35–06/15/38 | 3,188,943 | 0.4 | ||||||||||||||||
514,000 | # | Petroleos Mexicanos, 3.500%, 01/30/23 | 524,280 | 0.1 | |||||||||||||||
1,358,000 | Other Securities | 1,625,805 | 0.2 | ||||||||||||||||
5,746,493 | 0.7 | ||||||||||||||||||
Mongolia: 0.0% | |||||||||||||||||||
200,000 | # | Mongolia Government International Bond, 5.125%, 12/05/22 | 190,000 | 0.0 | |||||||||||||||
Morocco: 0.2% | |||||||||||||||||||
1,000,000 | # | Morocco Government International Bond, 4.250%, 12/11/22 | 1,041,250 | 0.1 | |||||||||||||||
500,000 | Other Securities | 520,625 | 0.1 | ||||||||||||||||
1,561,875 | 0.2 | ||||||||||||||||||
Namibia: 0.1% | |||||||||||||||||||
600,000 | Other Securities | 673,500 | 0.1 | ||||||||||||||||
Netherlands: 4.6% | |||||||||||||||||||
EUR 28,140,000 | # | Netherlands Government Bond, 1.250%, 01/15/18 | 38,257,103 | 4.6 | |||||||||||||||
Nigeria: 1.1% | |||||||||||||||||||
NGN 1,280,500,000 | Z | Nigeria Government Bond, 7.000%–11.440%, 09/26/13–10/23/19 | 7,291,361 | 0.9 | |||||||||||||||
NGN 257,300,000 | Other Securities | 1,627,597 | 0.2 | ||||||||||||||||
8,918,958 | 1.1 | ||||||||||||||||||
Panama: 0.2% | |||||||||||||||||||
1,425,000 | Other Securities | 1,676,813 | 0.2 | ||||||||||||||||
Paraguay: 0.2% | |||||||||||||||||||
1,800,000 | # | Republic of Paraguay, 4.625%, 01/25/23 | 1,845,000 | 0.2 |
AS OF APRIL 30, 2013 (UNAUDITED) (CONTINUED)
Principal Amount† | | | | Value | | Percentage of Net Assets | |||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
FOREIGN GOVERNMENT BONDS: (continued) | |||||||||||||||||||
Peru: 1.8% | |||||||||||||||||||
2,000,000 | # | El Fondo Mivivienda SA, 3.500%, 01/31/23 | $ | 1,996,000 | 0.3 | ||||||||||||||
PEN 4,200,000 | # | Peruvian Government International Bond, 6.950%, 08/12/31 | 1,983,360 | 0.2 | |||||||||||||||
PEN 8,400,000 | # | Peruvian Government International Bond, 7.840%, 08/12/20 | 3,984,518 | 0.5 | |||||||||||||||
PEN 11,350,000 | # | Peruvian Government International Bond, 8.200%, 08/12/26 | 5,987,380 | 0.7 | |||||||||||||||
510,000 | Peruvian Government International Bond, 5.625%, 11/18/50 | 656,625 | 0.1 | ||||||||||||||||
14,607,883 | 1.8 | ||||||||||||||||||
Philippines: 0.5% | |||||||||||||||||||
2,306,000 | Philippine Government International Bond, 4.000%–6.375%, 01/15/21–01/15/32 | 2,766,644 | 0.4 | ||||||||||||||||
650,000 | Other Securities | 987,187 | 0.1 | ||||||||||||||||
3,753,831 | 0.5 | ||||||||||||||||||
Poland: 0.2% | |||||||||||||||||||
1,645,000 | Other Securities | 1,730,014 | 0.2 | ||||||||||||||||
Republic Of Serbia: 0.1% | |||||||||||||||||||
1,100,000 | # | Republic of Serbia, 4.875%–5.250%, 11/21/17–02/25/20 | 1,158,150 | 0.1 | |||||||||||||||
Romania: 0.2% | |||||||||||||||||||
570,000 | # | Romanian Government International Bond, 4.375%, 08/22/23 | 592,771 | 0.1 | |||||||||||||||
808,000 | Other Securities | 993,315 | 0.1 | ||||||||||||||||
1,586,086 | 0.2 | ||||||||||||||||||
Russia: 5.5% | |||||||||||||||||||
RUB 155,100,000 | # | AHML Finance Ltd., 7.750%, 02/13/18 | 5,073,813 | 0.6 | |||||||||||||||
750,000 | Russian Agricultural Bank OJSC Via RSHB Capital SA, 5.298%, 12/27/17 | 804,000 | 0.1 | ||||||||||||||||
2,400,000 | # | Russian Agricultural Bank OJSC Via RSHB Capital SA, 5.298%, 12/27/17 | 2,572,800 | 0.3 | |||||||||||||||
RUB 787,697,000 | Russian Federal Bond — OFZ, 7.050%, 01/19/28 | 26,096,966 | 3.2 | ||||||||||||||||
RUB 223,332,000 | Russian Federal Bond — OFZ, 8.150%, 02/03/27 | 8,134,401 | 1.0 | ||||||||||||||||
1,480,250 | Russian Foreign Bond — Eurobond, 5.625%–7.500%, 03/31/30–04/04/42 | 1,838,115 | 0.2 | ||||||||||||||||
600,000 | Other Securities | 668,250 | 0.1 | ||||||||||||||||
45,188,345 | 5.5 | ||||||||||||||||||
Rwanda: 0.1% | |||||||||||||||||||
750,000 | # | Rwanda International Government Bond, 6.625%, 05/02/23 | 736,026 | 0.1 | |||||||||||||||
South Africa: 1.9% | |||||||||||||||||||
ZAR 5,000,000 | South Africa Government Bond, 7.250%, 01/15/20 | 597,615 | 0.0 | ||||||||||||||||
ZAR 105,479,700 | South Africa Government Bond, 8.750%, 02/28/48 | 13,149,140 | 1.6 | ||||||||||||||||
2,400,000 | # | Transnet SOC Ltd., 4.000%, 07/26/22 | 2,396,472 | 0.3 | |||||||||||||||
16,143,227 | 1.9 | ||||||||||||||||||
South Korea: 0.1% | |||||||||||||||||||
500,000 | # | Korea Housing Finance Corp., 4.125%, 12/15/15 | 538,570 | 0.1 | |||||||||||||||
Sri Lanka: 0.1% | |||||||||||||||||||
600,000 | # | Sri Lanka Government International Bond, 5.875%, 07/25/22 | 637,500 | 0.1 | |||||||||||||||
Tanzania: 0.2% | |||||||||||||||||||
1,200,000 | Other Securities | 1,261,500 | 0.2 | ||||||||||||||||
Thailand: 1.3% | |||||||||||||||||||
THB 227,800,000 | Thailand Government Bond, 3.125%, 12/11/15 | 7,819,773 | 0.9 | ||||||||||||||||
THB 97,027,000 | Thailand Government Bond, 3.775%, 06/25/32 | 3,288,934 | 0.4 | ||||||||||||||||
THB 1,600,000 | Thailand Government Bond, 5.250%, 05/12/14 | 55,894 | 0.0 | ||||||||||||||||
11,164,601 | 1.3 | ||||||||||||||||||
Trinidad And Tobago: 0.2% | |||||||||||||||||||
1,295,958 | Other Securities | 1,406,115 | 0.2 | ||||||||||||||||
Turkey: 0.5% | |||||||||||||||||||
2,556,000 | Turkey Government Bond, 7.375%, 02/05/25 | 3,418,650 | 0.4 | ||||||||||||||||
800,000 | Turkey Government International Bond, 4.875%, 04/16/43 | 826,000 | 0.1 | ||||||||||||||||
4,244,650 | 0.5 | ||||||||||||||||||
Ukraine: 0.4% | |||||||||||||||||||
2,350,000 | Ukraine Government International Bond, 9.250%, 07/24/17 | 2,520,375 | 0.3 | ||||||||||||||||
800,000 | # | Ukraine Government International Bond, 7.500%, 04/17/23 | 776,000 | 0.1 | |||||||||||||||
3,296,375 | 0.4 |
AS OF APRIL 30, 2013 (UNAUDITED) (CONTINUED)
Principal Amount† | | | | Value | | Percentage of Net Assets | |||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
FOREIGN GOVERNMENT BONDS: (continued) | |||||||||||||||||||
United Kingdom: 1.7% | |||||||||||||||||||
GBP 2,280,000 | United Kingdom Gilt, 1.000%, 09/07/17 | $ | 3,601,215 | 0.4 | |||||||||||||||
GBP 2,700,000 | United Kingdom Gilt, 1.750%, 09/07/22 | 4,223,612 | 0.5 | ||||||||||||||||
GBP 3,180,000 | United Kingdom Gilt, 4.500%, 12/07/42 | 6,387,672 | 0.8 | ||||||||||||||||
GBP 10,000 | United Kingdom Gilt, 5.000%, 09/07/14 | 16,532 | 0.0 | ||||||||||||||||
14,229,031 | 1.7 | ||||||||||||||||||
Uruguay: 0.1% | |||||||||||||||||||
493,404 | Other Securities | 749,234 | 0.1 | ||||||||||||||||
Venezuela: 0.7% | |||||||||||||||||||
3,280,400 | Petroleos de Venezuela SA, 9.000%, 11/17/21 | 3,108,179 | 0.4 | ||||||||||||||||
3,058,900 | Petroleos de Venezuela SA, 4.900%–8.500%, 10/28/14–11/02/17 | 2,960,627 | 0.3 | ||||||||||||||||
6,068,806 | 0.7 | ||||||||||||||||||
Vietnam: 0.1% | |||||||||||||||||||
440,000 | Other Securities | 524,700 | 0.1 | ||||||||||||||||
Total Foreign Government Bonds | |||||||||||||||||||
(Cost $356,975,514) | 362,880,823 | 43.8 | |||||||||||||||||
ASSET-BACKED SECURITIES: 4.6% | |||||||||||||||||||
Cayman Islands: 4.6% | |||||||||||||||||||
2,000,000 | # | Apidos CDO II, 1.076%, 12/21/18 | 1,887,224 | 0.2 | |||||||||||||||
1,570,000 | # | Ares XII CLO Ltd., 2.288%, 11/25/20 | 1,510,707 | 0.2 | |||||||||||||||
2,561,377 | # | Avalon Capital Ltd. 3, 0.558%, 02/24/19 | 2,551,480 | 0.3 | |||||||||||||||
2,195,000 | # | BlackRock Senior Income Series, 1.330%, 09/15/16 | 2,177,157 | 0.3 | |||||||||||||||
3,445,266 | # | Emporia Preferred Funding II Corp., 0.557%, 10/18/18 | 3,414,241 | 0.4 | |||||||||||||||
3,375,000 | # | Gulf Stream — Compass CLO 2005-II Ltd, 1.075%, 01/24/20 | 3,211,896 | 0.4 | |||||||||||||||
1,000,000 | # | Halcyon Structured Asset Management CLO I Ltd., 1.989%, 05/21/18 | 980,633 | 0.1 | |||||||||||||||
825,000 | # | Halcyon Structured Asset Management Long Secured/Short Unsecured 2007-1 Ltd., 0.723%, 08/07/21 | 789,950 | 0.1 | |||||||||||||||
184,657 | # | Landmark III CDO Ltd, 2.027%, 01/15/16 | 184,726 | 0.0 | |||||||||||||||
1,225,000 | # | Landmark IV CDO Ltd, 1.380%, 12/15/16 | 1,224,827 | 0.1 | |||||||||||||||
2,175,000 | # | Landmark IV CDO Ltd, 2.430%, 12/15/16 | 2,163,712 | 0.3 | |||||||||||||||
764,423 | # | Lightpoint CLO Ltd., 0.540%, 09/15/17 | 756,676 | 0.1 | |||||||||||||||
3,785,000 | # | Madison Park Funding I Ltd., 1.045%, 05/10/19 | 3,719,565 | 0.5 | |||||||||||||||
3,460,000 | # | Madison Park Funding I Ltd., 2.175%, 05/10/19 | 3,396,543 | 0.4 | |||||||||||||||
2,418,760 | # | Sagamore CLO Ltd, 1.777%, 10/15/15 | 2,419,930 | 0.3 | |||||||||||||||
600,000 | # | Stanfield Bristol CLO Ltd, 0.740%, 10/15/19 | 579,589 | 0.1 | |||||||||||||||
2,000,000 | # | Venture III CDO Ltd, 1.876%, 01/21/16 | 2,001,532 | 0.2 | |||||||||||||||
3,275,000 | # | Venture IV CDO Ltd, 1.440%, 08/15/16 | 3,254,829 | 0.4 | |||||||||||||||
1,900,000 | # | Whitney CLO Ltd, 2.387%, 03/01/17 | 1,898,980 | 0.2 | |||||||||||||||
Total Asset-Backed Securities | |||||||||||||||||||
(Cost $38,096,894) | 38,124,197 | 4.6 | |||||||||||||||||
U.S. TREASURY OBLIGATIONS: 12.2% | |||||||||||||||||||
U.S. Treasury Bonds: 4.2% | |||||||||||||||||||
13,858,000 | 2.000%, due 02/15/23 | 14,267,241 | 1.7 | ||||||||||||||||
21,661,000 | 2.750%, due 11/15/42 | 21,048,405 | 2.5 | ||||||||||||||||
35,315,646 | 4.2 | ||||||||||||||||||
U.S. Treasury Notes: 8.0% | |||||||||||||||||||
7,683,000 | 0.125%, due 04/30/15 | 7,670,999 | 0.9 | ||||||||||||||||
8,749,000 | 0.250%, due 04/15/16 | 8,735,334 | 1.1 | ||||||||||||||||
11,758,000 | 0.625%, due 04/30/18 | 11,730,439 | 1.4 | ||||||||||||||||
11,913,000 | 0.750%, due 03/31/18 | 11,966,978 | 1.4 | ||||||||||||||||
11,276,000 | 1.125%, due 03/31/20 | 11,305,949 | 1.4 | ||||||||||||||||
14,797,000 | 1.125%, due 04/30/20 | 14,833,993 | 1.8 | ||||||||||||||||
66,243,692 | 8.0 | ||||||||||||||||||
Total U.S. Treasury Obligations | |||||||||||||||||||
(Cost $100,598,610) | 101,559,338 | 12.2 | |||||||||||||||||
U.S. GOVERNMENT AGENCY OBLIGATIONS: 10.6% | |||||||||||||||||||
Federal Home Loan Mortgage Corporation: 2.6%## | |||||||||||||||||||
2,854,594 | 0.599%, due 08/15/36 | 2,880,920 | 0.3 | ||||||||||||||||
4,525,228 | 0.649%, due 06/15/37 | 4,566,559 | 0.6 | ||||||||||||||||
4,701,509 | ˆ | 5.000%, due 02/15/40 | 809,003 | 0.1 | |||||||||||||||
11,659,051 | ˆ | 5.801%, due 05/15/36 | 1,555,350 | 0.2 | |||||||||||||||
8,304,880 | ˆ | 5.851%, due 07/15/40 | 1,492,315 | 0.2 | |||||||||||||||
17,070,811 | ˆ | 6.351%, due 05/15/41 | 3,824,582 | 0.5 | |||||||||||||||
13,560,507 | ˆ | 6.451%, due 02/15/41 | 2,595,313 | 0.3 | |||||||||||||||
3,109,753 | 3.500%–5.500%, due 11/15/32–04/01/43 | 3,339,504 | 0.4 | ||||||||||||||||
21,063,546 | 2.6 |
AS OF APRIL 30, 2013 (UNAUDITED) (CONTINUED)
Principal Amount† | | | | Value | | Percentage of Net Assets | |||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
U.S. GOVERNMENT AGENCY OBLIGATIONS: (continued) | |||||||||||||||||||
Federal National Mortgage Association: 5.2%## | |||||||||||||||||||
4,860,120 | 0.820%, due 12/25/36 | $ | 4,916,878 | 0.6 | |||||||||||||||
3,000,000 | 3.000%, due 01/25/38 | 3,252,270 | 0.4 | ||||||||||||||||
19,522,000 | W | 3.500%, due 12/25/40 | 20,806,183 | 2.5 | |||||||||||||||
7,981,839 | ˆ | 5.000%, due 05/25/18 | 591,869 | 0.1 | |||||||||||||||
4,529,394 | ˆ | 6.250%, due 02/25/42 | 1,086,998 | 0.1 | |||||||||||||||
11,049,370 | 4.500%–32.449%, due 04/25/33–09/01/41 | 12,683,786 | 1.5 | ||||||||||||||||
43,337,984 | 5.2 | ||||||||||||||||||
Government National Mortgage Association: 2.8% | |||||||||||||||||||
9,246,000 | W | 3.000%, due 06/01/43 | 9,813,762 | 1.2 | |||||||||||||||
19,729,364 | ˆ | 4.000%, due 08/16/26 | 2,157,300 | 0.2 | |||||||||||||||
5,983,733 | ˆ | 4.000%, due 04/20/38 | 700,993 | 0.1 | |||||||||||||||
12,574,265 | ˆ | 4.500%, due 12/20/37 | 1,441,896 | 0.2 | |||||||||||||||
3,966,481 | ˆ | 5.000%, due 11/20/39 | 551,351 | 0.1 | |||||||||||||||
8,610,459 | ˆ | 5.000%, due 10/20/40 | 1,030,488 | 0.1 | |||||||||||||||
6,477,919 | 0.719%–24.568%, due 03/20/37–10/20/60 | 7,725,056 | 0.9 | ||||||||||||||||
23,420,846 | 2.8 | ||||||||||||||||||
Total U.S. Government Agency Obligations | |||||||||||||||||||
(Cost $85,714,642) | 87,822,376 | 10.6 |
# of Contracts | | | | Value | | Percentage of Net Assets | |||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
PURCHASED OPTIONS: 0.3% | |||||||||||||||||||
Options on Currencies: 0.3% | |||||||||||||||||||
81,800,000 | @ | EUR Put vs. USD Call Currency Option, Strike @ 1.280, Exp. 09/09/13 Counterparty: Barclays Bank PLC | 825,333 | 0.1 | |||||||||||||||
16,200,000 | @ | USD Put vs. JPY Call Currency Option, Strike @ 91.000, Exp. 06/10/13 Counterparty: Deutsche Bank AG | 15,002 | 0.0 | |||||||||||||||
40,800,000 | @ | USD Put vs. JPY Call Currency Option, Strike @ 90.000, Exp. 05/16/13 Counterparty: Deutsche Bank AG | 1,175 | 0.0 | |||||||||||||||
40,300,000 | @ | USD Put vs. JPY Call Currency Option, Strike @ 92.500, Exp. 06/13/13 Counterparty: Barclays Bank PLC | 88,678 | 0.0 | |||||||||||||||
41,200,000 | @ | USD Put vs. JPY Call Currency Option, Strike @ 96.000, Exp. 10/29/13 Counterparty: Deutsche Bank AG | 1,029,748 | 0.1 | |||||||||||||||
41,700,000 | @ | USD Put vs. JPY Call Currency Option, Strike @ 95.000, Exp. 07/15/13 Counterparty: Barclays Bank PLC | 439,092 | 0.1 | |||||||||||||||
2,399,028 | 0.3 | ||||||||||||||||||
Total Purchased Options | |||||||||||||||||||
(Cost $3,936,296) | 2,399,028 | 0.3 | |||||||||||||||||
Total Long-Term Investments | |||||||||||||||||||
(Cost $804,750,794) | 824,208,357 | 99.4 |
Principal Amount† | | | | Value | | Percentage of Net Assets | |||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
SHORT-TERM INVESTMENTS: 2.1% | |||||||||||||||||||
Foreign Government Bonds: 1.9% | |||||||||||||||||||
MYR 1,700,000 | Z | Bank Negara Malaysia Monetary Notes, 2.850%, 07/18/13 | 555,283 | 0.1 | |||||||||||||||
MXN 97,000,000 | Z | Mexico Cetes, 3.810%, 09/19/13 | 7,870,370 | 1.0 | |||||||||||||||
NGN 294,145,000 | Z | Nigeria Treasury Bill, 10.260%, 10/24/13 | 1,772,261 | 0.2 | |||||||||||||||
NGN 809,687,000 | Z | Nigeria Treasury Bill, 10.550%, 05/09/13 | 5,111,117 | 0.6 | |||||||||||||||
15,309,031 | 1.9 |
Shares | | | | Value | | Percentage of Net Assets | ||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Mutual Funds: 0.2% | ||||||||||||||||||
1,675,000 | BlackRock Liquidity Funds, TempFund, Institutional Class | |||||||||||||||||
(Cost $1,675,000) | 1,675,000 | 0.2 | ||||||||||||||||
Total Short-Term Investments | ||||||||||||||||||
(Cost $16,878,280) | 16,984,031 | 2.1 | ||||||||||||||||
Total Investments in Securities (Cost $821,629,074) | $ | 841,192,388 | 101.5 | |||||||||||||||
Liabilities in Excess of Other Assets | (12,370,790 | ) | (1.5 | ) | ||||||||||||||
Net Assets | $ | 828,821,598 | 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. |
AS OF APRIL 30, 2013 (UNAUDITED) (CONTINUED)
## | 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. |
Z | Indicates Zero Coupon Bond; rate shown reflects current effective yield. |
(a) | The grouping contains securities in default. |
BRL | Brazilian Real |
CAD | Canadian Dollar |
DOP | Dominican Peso |
EUR | EU Euro |
GBP | British Pound |
JPY | Japanese Yen |
MXN | Mexican Peso |
MYR | Malaysian Ringgit |
NGN | Nigerian Naira |
PEN | Peruvian Nuevo Sol |
RUB | Russian Ruble |
THB | Thai Baht |
ZAR | South African Rand |
Cost for federal income tax purposes is $822,163,620. |
Net unrealized appreciation consists of: | ||||||
Gross Unrealized Appreciation | $ | 23,778,451 | ||||
Gross Unrealized Depreciation | (4,749,683 | ) | ||||
Net Unrealized Appreciation | $ | 19,028,768 |
Sector Diversification | Percentage of Net Assets | |||||
---|---|---|---|---|---|---|
Foreign Government Bonds | 44.4 | % | ||||
U.S. Treasury Obligations | 8.0 | |||||
Collateralized Mortgage Obligations | 7.9 | |||||
Financials | 6.8 | |||||
Federal National Mortgage Association | 4.8 | |||||
Asset-Backed Securities | 4.5 | |||||
U.S. Treasury Bonds | 4.2 | |||||
U.S. Government Agency Obligations | 2.9 | |||||
Consumer Discretionary | 2.1 | |||||
Energy | 2.0 | |||||
Telecommunication Services | 1.8 | |||||
Federal Home Loan Mortgage Corporation | 1.5 | |||||
Utilities | 1.5 | |||||
Government National Mortgage Association | 1.4 | |||||
Industrials | 1.2 | |||||
Information Technology | 1.2 | |||||
Corporate Bonds/Notes | 1.2 | |||||
Consumer Staples | 1.1 | |||||
Materials | 1.0 | |||||
Health Care | 0.8 | |||||
Options on Currencies | 0.3 | |||||
Other Asset-Backed Securities | 0.1 | |||||
Short-Term Investments | 0.2 | |||||
Foreign Government Securities | 0.6 | |||||
Liabilities in Excess of Other Assets | (1.5 | ) | ||||
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 April 30, 2013 | |||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Asset Table | ||||||||||||||||||
Investments, at fair value | ||||||||||||||||||
Purchased Options | $ | — | $ | 2,399,028 | $ | — | $ | 2,399,028 | ||||||||||
Corporate Bonds/Notes | — | 166,159,577 | — | 166,159,577 | ||||||||||||||
Collateralized Mortgage Obligations | — | 65,263,018 | — | 65,263,018 | ||||||||||||||
U.S. Treasury Obligations | — | 101,559,338 | — | 101,559,338 | ||||||||||||||
Foreign Government Bonds | — | 362,880,823 | — | 362,880,823 | ||||||||||||||
Short-Term Investments | 1,675,000 | 15,309,031 | — | 16,984,031 | ||||||||||||||
U.S. Government Agency Obligations | — | 87,822,376 | — | 87,822,376 | ||||||||||||||
Asset-Backed Securities | — | 38,124,197 | — | 38,124,197 | ||||||||||||||
Total Investments, at fair value | $ | 1,675,000 | $ | 839,517,388 | $ | — | $ | 841,192,388 | ||||||||||
Other Financial Instruments+ | ||||||||||||||||||
Swaps | — | 31,460 | — | 31,460 | ||||||||||||||
Futures | 2,558,621 | — | — | 2,558,621 | ||||||||||||||
Forward Foreign Currency Contracts | — | 8,915,977 | — | 8,915,977 | ||||||||||||||
Total Assets | $ | 4,233,621 | $ | 848,464,825 | $ | — | $ | 852,698,446 |
AS OF APRIL 30, 2013 (UNAUDITED) (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 April 30, 2013 | |||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Liabilities Table | ||||||||||||||||||
Other Financial Instruments+ | ||||||||||||||||||
Swaps | $ | — | $ | (5,541,797 | ) | $ | — | $ | (5,541,797 | ) | ||||||||
Futures | (1,560,060 | ) | — | — | (1,560,060 | ) | ||||||||||||
Written Options | — | (822,734 | ) | — | (822,734 | ) | ||||||||||||
Forward Foreign Currency Contracts | — | (10,543,938 | ) | — | (10,543,938 | ) | ||||||||||||
Total Liabilities | $ | (1,560,060 | ) | $ | (16,908,469 | ) | $ | — | $ | (18,468,529 | ) |
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 | South Korean Won | 20,246,232,600 | Buy | 06/14/13 | $ | 18,098,000 | $ | 18,354,080 | $ | 256,080 | ||||||||||||||||||||
Barclays Bank PLC | British Pound | 4,921,959 | Buy | 07/12/13 | 7,619,000 | 7,642,239 | 23,239 | |||||||||||||||||||||||
Barclays Bank PLC | New Zealand Dollar | 11,190,890 | Buy | 07/12/13 | 9,495,000 | 9,544,987 | 49,987 | |||||||||||||||||||||||
Barclays Bank PLC | Canadian Dollar | 51,357,611 | Buy | 07/12/13 | 50,804,352 | 50,892,628 | 88,276 | |||||||||||||||||||||||
Barclays Bank PLC | Canadian Dollar | 5,337,327 | Buy | 07/12/13 | 5,268,000 | 5,289,004 | 21,004 | |||||||||||||||||||||||
Barclays Bank PLC | British Pound | 15,087,130 | Buy | 07/12/13 | 23,209,483 | 23,425,524 | 216,041 | |||||||||||||||||||||||
Barclays Bank PLC | Canadian Dollar | 177,028 | Buy | 07/12/13 | 174,000 | 175,425 | 1,425 | |||||||||||||||||||||||
Barclays Bank PLC | Colombian Peso | 15,155,199,000 | Buy | 07/12/13 | 8,241,000 | 8,254,719 | 13,719 | |||||||||||||||||||||||
Barclays Bank PLC | Czech Koruna | 467,421,809 | Buy | 06/14/13 | 23,718,267 | 23,869,539 | 151,272 | |||||||||||||||||||||||
Barclays Bank PLC | Peruvian Nuevo Sol | 3,797,175 | Buy | 06/14/13 | 1,462,139 | 1,432,531 | (29,608 | ) | ||||||||||||||||||||||
Barclays Bank PLC | South African Rand | 37,339,792 | Buy | 06/14/13 | 4,088,000 | 4,136,607 | 48,607 | |||||||||||||||||||||||
Citigroup, Inc. | Hungarian Forint | 2,725,589,165 | Buy | 06/14/13 | 11,893,032 | 11,936,576 | 43,544 | |||||||||||||||||||||||
Citigroup, Inc. | Polish Zloty | 194,008 | Buy | 06/14/13 | 61,216 | 61,201 | (15 | ) | ||||||||||||||||||||||
Citigroup, Inc. | Russian Ruble | 13,502,771 | Buy | 06/14/13 | 432,262 | 430,372 | (1,890 | ) | ||||||||||||||||||||||
Citigroup, Inc. | South Korean Won | 4,936,927,000 | Buy | 06/14/13 | 4,324,000 | 4,475,537 | 151,537 | |||||||||||||||||||||||
Citigroup, Inc. | Mexican Peso | 102,549,539 | Buy | 06/14/13 | 8,239,000 | 8,414,990 | 175,990 | |||||||||||||||||||||||
Citigroup, Inc. | Japanese Yen | 1,445,229,016 | Buy | 07/12/13 | 14,840,000 | 14,830,921 | (9,079 | ) | ||||||||||||||||||||||
Citigroup, Inc. | Canadian Dollar | 1,594,139 | Buy | 07/12/13 | 1,574,000 | 1,579,706 | 5,706 | |||||||||||||||||||||||
Citigroup, Inc. | Mexican Peso | 35,535,141 | Buy | 06/14/13 | 2,866,000 | 2,915,936 | 49,936 | |||||||||||||||||||||||
Citigroup, Inc. | EU Euro | 8,873,121 | Buy | 07/12/13 | 11,570,000 | 11,691,194 | 121,194 | |||||||||||||||||||||||
Citigroup, Inc. | Australian Dollar | 8,317,949 | Buy | 07/12/13 | 8,529,000 | 8,577,319 | 48,319 | |||||||||||||||||||||||
Citigroup, Inc. | Polish Zloty | 13,143,197 | Buy | 06/14/13 | 4,020,000 | 4,146,068 | 126,068 | |||||||||||||||||||||||
Citigroup, Inc. | Australian Dollar | 5,430,085 | Buy | 07/12/13 | 5,553,000 | 5,599,406 | 46,406 | |||||||||||||||||||||||
Citigroup, Inc. | EU Euro | 3,584,316 | Buy | 07/12/13 | 4,678,578 | 4,722,681 | 44,103 | |||||||||||||||||||||||
Citigroup, Inc. | Australian Dollar | 2,337,239 | Buy | 07/12/13 | 2,390,000 | 2,410,119 | 20,119 | |||||||||||||||||||||||
Citigroup, Inc. | Polish Zloty | 25,903,200 | Buy | 06/14/13 | 7,992,836 | 8,171,256 | 178,420 | |||||||||||||||||||||||
Citigroup, Inc. | Australian Dollar | 15,987,879 | Buy | 07/12/13 | 16,672,000 | 16,486,413 | (185,587 | ) | ||||||||||||||||||||||
Citigroup, Inc. | Canadian Dollar | 3,149,852 | Buy | 07/12/13 | 3,103,000 | 3,121,334 | 18,334 | |||||||||||||||||||||||
Citigroup, Inc. | Romanian New Leu | 15,274,599 | Buy | 06/14/13 | 4,503,656 | 4,627,988 | 124,332 | |||||||||||||||||||||||
Citigroup, Inc. | Australian Dollar | 16,806,865 | Buy | 07/12/13 | 17,657,208 | 17,330,937 | (326,271 | ) | ||||||||||||||||||||||
Citigroup, Inc. | EU Euro | 40,757,424 | Buy | 07/12/13 | 53,549,142 | 53,701,842 | 152,700 | |||||||||||||||||||||||
Citigroup, Inc. | Norwegian Krone | 8,870,439 | Buy | 07/12/13 | 1,551,000 | 1,534,056 | (16,944 | ) | ||||||||||||||||||||||
Citigroup, Inc. | New Zealand Dollar | 20,851,607 | Buy | 07/12/13 | 17,943,850 | 17,784,851 | (158,999 | ) | ||||||||||||||||||||||
Citigroup, Inc. | New Zealand Dollar | 24,882,225 | Buy | 07/12/13 | 21,354,000 | 21,222,665 | (131,335 | ) | ||||||||||||||||||||||
Citigroup, Inc. | Swedish Krona | 136,837,164 | Buy | 07/12/13 | 21,559,135 | 21,079,532 | (479,603 | ) | ||||||||||||||||||||||
Citigroup, Inc. | Swedish Krona | 3,349,575 | Buy | 07/12/13 | 527,000 | 515,996 | (11,004 | ) | ||||||||||||||||||||||
Citigroup, Inc. | Polish Zloty | 12,979,752 | Buy | 06/14/13 | 4,040,000 | 4,094,509 | 54,509 | |||||||||||||||||||||||
Citigroup, Inc. | South African Rand | 38,094,575 | Buy | 06/14/13 | 4,064,000 | 4,220,224 | 156,224 | |||||||||||||||||||||||
Citigroup, Inc. | Polish Zloty | 13,031,289 | Buy | 06/14/13 | 4,060,000 | 4,110,766 | 50,766 | |||||||||||||||||||||||
Citigroup, Inc. | Indian Rupee | 609,266,323 | Buy | 06/14/13 | 10,871,990 | 11,213,152 | 341,162 | |||||||||||||||||||||||
Citigroup, Inc. | Philippine Peso | 425,123,020 | Buy | 07/12/13 | 10,444,000 | 10,297,880 | (146,120 | ) | ||||||||||||||||||||||
Citigroup, Inc. | Romanian New Leu | 12,685,186 | Buy | 06/14/13 | 3,733,683 | 3,843,433 | 109,750 |
AS OF APRIL 30, 2013 (UNAUDITED) (CONTINUED)
Counterparty | Currency | Contract Amount | Buy/Sell | Settlement Date | In Exchange For | Fair Value | Unrealized Appreciation (Depreciation) | |||||||||||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Citigroup, Inc. | Hong Kong Sar Dollar | 31,520,898 | Buy | 06/14/13 | $ | 4,066,024 | $ | 4,062,823 | $ | (3,201 | ) | |||||||||||||||||||
Citigroup, Inc. | Mexican Peso | 50,849,790 | Buy | 06/14/13 | 3,924,000 | 4,172,622 | 248,622 | |||||||||||||||||||||||
Citigroup, Inc. | Mexican Peso | 192,737,834 | Buy | 06/14/13 | 14,933,429 | 15,815,643 | 882,214 | |||||||||||||||||||||||
Citigroup, Inc. | Singapore Dollar | 4,805,932 | Buy | 06/14/13 | 3,876,408 | 3,901,910 | 25,502 | |||||||||||||||||||||||
Citigroup, Inc. | South African Rand | 21,065,367 | Buy | 06/14/13 | 2,288,000 | 2,333,680 | 45,680 | |||||||||||||||||||||||
Citigroup, Inc. | Polish Zloty | 13,615,728 | Buy | 06/14/13 | 4,251,000 | 4,295,130 | 44,130 | |||||||||||||||||||||||
Citigroup, Inc. | Indian Rupee | 224,223,852 | Buy | 06/14/13 | 4,084,000 | 4,126,695 | 42,695 | |||||||||||||||||||||||
Citigroup, Inc. | Chinese Yuan | 24,596,098 | Buy | 08/09/13 | 3,904,000 | 3,969,532 | 65,532 | |||||||||||||||||||||||
Citigroup, Inc. | Chinese Yuan | 52,653,279 | Buy | 08/09/13 | 8,357,000 | 8,497,643 | 140,643 | |||||||||||||||||||||||
Credi Suisse Group AG | Mexican Peso | 103,758,221 | Buy | 06/14/13 | 8,405,000 | 8,514,171 | 109,171 | |||||||||||||||||||||||
Credi Suisse Group AG | Swiss Franc | 4,957,544 | Buy | 07/12/13 | 5,345,084 | 5,335,638 | (9,446 | ) | ||||||||||||||||||||||
Credi Suisse Group AG | Japanese Yen | 69,605,327 | Buy | 07/12/13 | 699,540 | 714,289 | 14,749 | |||||||||||||||||||||||
Credi Suisse Group AG | Norwegian Krone | 155,692,352 | Buy | 07/12/13 | 27,218,424 | 26,925,479 | (292,945 | ) | ||||||||||||||||||||||
Credi Suisse Group AG | Swedish Krona | 301,258 | Buy | 07/12/13 | 47,000 | 46,408 | (592 | ) | ||||||||||||||||||||||
Deutsche Bank AG | Chinese Offshore Yuan | 49,330,698 | Buy | 01/14/14 | 7,834,000 | 7,934,410 | 100,410 | |||||||||||||||||||||||
Deutsche Bank AG | Hungarian Forint | 2,725,589,165 | Buy | 06/14/13 | 11,923,792 | 11,936,576 | 12,784 | |||||||||||||||||||||||
Deutsche Bank AG | South African Rand | 605,997 | Buy | 06/14/13 | 67,131 | 67,134 | 3 | |||||||||||||||||||||||
Deutsche Bank AG | Hungarian Forint | 119,727,322 | Buy | 06/14/13 | 528,028 | 524,340 | (3,688 | ) | ||||||||||||||||||||||
Deutsche Bank AG | Hungarian Forint | 2,274,819,113 | Buy | 06/14/13 | 10,024,855 | 9,962,452 | (62,403 | ) | ||||||||||||||||||||||
Deutsche Bank AG | South African Rand | 25,897,939 | Buy | 06/14/13 | 2,874,590 | 2,869,046 | (5,544 | ) | ||||||||||||||||||||||
Deutsche Bank AG | Turkish Lira | 38,538,997 | Buy | 06/14/13 | 21,424,003 | 21,398,702 | (25,301 | ) | ||||||||||||||||||||||
Deutsche Bank AG | Japanese Yen | 190,893,580 | Buy | 07/12/13 | 1,959,000 | 1,958,947 | (53 | ) | ||||||||||||||||||||||
Deutsche Bank AG | Indian Rupee | 380,436,960 | Buy | 06/14/13 | 6,882,000 | 7,001,696 | 119,696 | |||||||||||||||||||||||
Deutsche Bank AG | Romanian New Leu | 3,426,595 | Buy | 06/14/13 | 987,000 | 1,038,210 | 51,210 | |||||||||||||||||||||||
Deutsche Bank AG | Japanese Yen | 434,282,790 | Buy | 07/12/13 | 4,444,000 | 4,456,604 | 12,604 | |||||||||||||||||||||||
Deutsche Bank AG | Peruvian Nuevo Sol | 25,619,061 | Buy | 06/14/13 | 9,903,000 | 9,665,108 | (237,892 | ) | ||||||||||||||||||||||
Deutsche Bank AG | New Zealand Dollar | 3,978,092 | Buy | 07/12/13 | 3,336,000 | 3,393,013 | 57,013 | |||||||||||||||||||||||
Deutsche Bank AG | Polish Zloty | 13,089,060 | Buy | 06/14/13 | 4,016,000 | 4,128,990 | 112,990 | |||||||||||||||||||||||
Deutsche Bank AG | South African Rand | 37,782,636 | Buy | 06/14/13 | 4,028,000 | 4,185,666 | 157,666 | |||||||||||||||||||||||
Deutsche Bank AG | Japanese Yen | 503,436,190 | Buy | 07/12/13 | 5,150,000 | 5,166,256 | 16,256 | |||||||||||||||||||||||
Deutsche Bank AG | South African Rand | 97,339,595 | Buy | 06/14/13 | 10,391,393 | 10,783,554 | 392,161 | |||||||||||||||||||||||
Deutsche Bank AG | Polish Zloty | 13,012,440 | Buy | 06/14/13 | 4,064,000 | 4,104,821 | 40,821 | |||||||||||||||||||||||
Deutsche Bank AG | South African Rand | 37,653,354 | Buy | 06/14/13 | 4,064,000 | 4,171,344 | 107,344 | |||||||||||||||||||||||
Deutsche Bank AG | Indonesian Rupiah | 64,643,058,000 | Buy | 06/14/13 | 6,592,867 | 6,612,985 | 20,118 | |||||||||||||||||||||||
Deutsche Bank AG | Polish Zloty | 44,006,168 | Buy | 06/14/13 | 13,714,427 | 13,881,902 | 167,475 | |||||||||||||||||||||||
Deutsche Bank AG | Turkish Lira | 26,469,153 | Buy | 06/14/13 | 14,518,562 | 14,696,945 | 178,383 | |||||||||||||||||||||||
Deutsche Bank AG | Israeli New Shekel | 4,880,313 | Buy | 06/14/13 | 1,301,816 | 1,359,218 | 57,402 | |||||||||||||||||||||||
Deutsche Bank AG | Turkish Lira | 13,826,292 | Buy | 06/14/13 | 7,569,000 | 7,677,022 | 108,022 | |||||||||||||||||||||||
Deutsche Bank AG | Philippine Peso | 1,026,759,052 | Buy | 07/12/13 | 25,196,541 | 24,871,485 | (325,056 | ) | ||||||||||||||||||||||
Deutsche Bank AG | Colombian Peso | 16,201,958,500 | Buy | 07/12/13 | 8,827,000 | 8,824,867 | (2,133 | ) | ||||||||||||||||||||||
Deutsche Bank AG | Colombian Peso | 3,682,646,983 | Buy | 07/12/13 | 2,026,561 | 2,005,860 | (20,701 | ) | ||||||||||||||||||||||
Deutsche Bank AG | Chinese Yuan | 50,722,335 | Buy | 08/09/13 | 8,055,000 | 8,186,010 | 131,010 | |||||||||||||||||||||||
Goldman Sachs & Co. | Mexican Peso | 30,318 | Buy | 06/14/13 | 2,444 | 2,488 | 44 | |||||||||||||||||||||||
Goldman Sachs & Co. | Norwegian Krone | 43,373,300 | Buy | 07/12/13 | 7,444,000 | 7,500,991 | 56,991 | |||||||||||||||||||||||
Goldman Sachs & Co. | Swedish Krona | 24,510,674 | Buy | 07/12/13 | 3,709,000 | 3,775,827 | 66,827 | |||||||||||||||||||||||
Goldman Sachs & Co. | Norwegian Krone | 22,872,567 | Buy | 07/12/13 | 3,866,000 | 3,955,588 | 89,588 | |||||||||||||||||||||||
Goldman Sachs & Co. | Norwegian Krone | 20,203,409 | Buy | 07/12/13 | 3,440,000 | 3,493,983 | 53,983 | |||||||||||||||||||||||
Goldman Sachs & Co. | Polish Zloty | 13,667,710 | Buy | 06/14/13 | 4,239,183 | 4,311,528 | 72,345 | |||||||||||||||||||||||
Goldman Sachs & Co. | Australian Dollar | 8,151,084 | Buy | 07/12/13 | 8,513,000 | 8,405,251 | (107,749 | ) | ||||||||||||||||||||||
Goldman Sachs & Co. | EU Euro | 2,888,360 | Buy | 07/12/13 | 3,785,000 | 3,805,694 | 20,694 | |||||||||||||||||||||||
Goldman Sachs & Co. | Chilean Peso | 4,403,069,418 | Buy | 07/12/13 | 9,255,007 | 9,256,432 | 1,425 | |||||||||||||||||||||||
Goldman Sachs & Co. | Japanese Yen | 99,083,638 | Buy | 07/12/13 | 992,000 | 1,016,795 | 24,795 | |||||||||||||||||||||||
JPMorgan Chase & Co. | New Zealand Dollar | 5,200,160 | Buy | 07/12/13 | 4,437,000 | 4,435,345 | (1,655 | ) | ||||||||||||||||||||||
JPMorgan Chase & Co. | Australian Dollar | 1,119,572 | Buy | 07/12/13 | 1,153,000 | 1,154,482 | 1,482 | |||||||||||||||||||||||
JPMorgan Chase & Co. | Japanese Yen | 355,252,274 | Buy | 07/12/13 | 3,626,000 | 3,645,594 | 19,594 | |||||||||||||||||||||||
JPMorgan Chase & Co. | Malaysian Ringgit | 8,921,512 | Buy | 06/14/13 | 2,878,000 | 2,922,848 | 44,848 | |||||||||||||||||||||||
JPMorgan Chase & Co. | Swedish Krona | 54,869,181 | Buy | 07/12/13 | 8,380,000 | 8,452,504 | 72,504 | |||||||||||||||||||||||
JPMorgan Chase & Co. | Australian Dollar | 2,803,507 | Buy | 07/12/13 | 2,866,000 | 2,890,926 | 24,926 | |||||||||||||||||||||||
JPMorgan Chase & Co. | Norwegian Krone | 48,293,321 | Buy | 07/12/13 | 8,287,000 | 8,351,860 | 64,860 | |||||||||||||||||||||||
JPMorgan Chase & Co. | British Pound | 8,524,745 | Buy | 07/12/13 | 13,045,000 | 13,236,223 | 191,223 | |||||||||||||||||||||||
JPMorgan Chase & Co. | Japanese Yen | 162,240,936 | Buy | 07/12/13 | 1,640,000 | 1,664,914 | 24,914 | |||||||||||||||||||||||
JPMorgan Chase & Co. | Danish Krone | 11,481,481 | Buy | 07/12/13 | 2,024,772 | 2,029,729 | 4,957 | |||||||||||||||||||||||
JPMorgan Chase & Co. | Australian Dollar | 3,380,566 | Buy | 07/12/13 | 3,539,000 | 3,485,979 | (53,021 | ) | ||||||||||||||||||||||
JPMorgan Chase & Co. | British Pound | 3,166,124 | Buy | 07/12/13 | 4,848,000 | 4,915,985 | 67,985 |
AS OF APRIL 30, 2013 (UNAUDITED) (CONTINUED)
Counterparty | Currency | Contract Amount | Buy/Sell | Settlement Date | In Exchange For | Fair Value | Unrealized Appreciation (Depreciation) | |||||||||||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
JPMorgan Chase & Co. | Mexican Peso | 152,213,396 | Buy | 06/14/13 | $ | 12,059,563 | $ | 12,490,296 | $ | 430,733 | ||||||||||||||||||||
JPMorgan Chase & Co. | Taiwan New Dollar | 72,116,656 | Buy | 07/12/13 | 2,441,735 | 2,445,959 | 4,224 | |||||||||||||||||||||||
UBS Warburg LLC | Singapore Dollar | 10,066,342 | Buy | 06/14/13 | 8,162,000 | 8,172,808 | 10,808 | |||||||||||||||||||||||
UBS Warburg LLC | Hungarian Forint | 1,007,911,992 | Buy | 06/14/13 | 4,467,000 | 4,414,098 | (52,902 | ) | ||||||||||||||||||||||
UBS Warburg LLC | Japanese Yen | 1,610,635,627 | Buy | 07/12/13 | 16,489,000 | 16,528,322 | 39,322 | |||||||||||||||||||||||
UBS Warburg LLC | Polish Zloty | 3,767,996 | Buy | 06/14/13 | 1,151,000 | �� | 1,188,628 | 37,628 | ||||||||||||||||||||||
UBS Warburg LLC | Swedish Krona | 33,359,266 | Buy | 07/12/13 | 5,091,000 | 5,138,938 | 47,938 | |||||||||||||||||||||||
UBS Warburg LLC | Japanese Yen | 664,318,678 | Buy | 07/12/13 | 6,687,000 | 6,817,230 | 130,230 | |||||||||||||||||||||||
UBS Warburg LLC | Norwegian Krone | 17,107,502 | Buy | 07/12/13 | 2,932,000 | 2,958,576 | 26,576 | |||||||||||||||||||||||
UBS Warburg LLC | EU Euro | 14,759,414 | Buy | 07/12/13 | 19,304,000 | 19,446,953 | 142,953 | |||||||||||||||||||||||
UBS Warburg LLC | EU Euro | 2,357,608 | Buy | 07/12/13 | 3,081,000 | 3,106,376 | 25,376 | |||||||||||||||||||||||
$ | 5,450,111 | |||||||||||||||||||||||||||||
Barclays Bank PLC | Russian Ruble | 119,998,420 | Sell | 06/14/13 | $ | 3,755,467 | $ | 3,824,694 | $ | (69,227 | ) | |||||||||||||||||||
Barclays Bank PLC | Russian Ruble | 890,934,501 | Sell | 06/14/13 | 28,619,344 | 28,396,633 | 222,711 | |||||||||||||||||||||||
Barclays Bank PLC | Hungarian Forint | 5,145,133,157 | Sell | 06/14/13 | 22,578,257 | 22,532,843 | 45,414 | |||||||||||||||||||||||
Barclays Bank PLC | South Korean Won | 10,348,433,900 | Sell | 06/14/13 | 9,149,000 | 9,381,300 | (232,300 | ) | ||||||||||||||||||||||
Barclays Bank PLC | Swedish Krona | 33,816,852 | Sell | 07/12/13 | 5,167,000 | 5,209,428 | (42,428 | ) | ||||||||||||||||||||||
Barclays Bank PLC | EU Euro | 4,465,671 | Sell | 07/12/13 | 5,815,000 | 5,883,952 | (68,952 | ) | ||||||||||||||||||||||
Barclays Bank PLC | Mexican Peso | 12,299,998 | Sell | 06/14/13 | 968,000 | 1,009,311 | (41,311 | ) | ||||||||||||||||||||||
Barclays Bank PLC | South African Rand | 67,488,697 | Sell | 06/14/13 | 7,334,213 | 7,476,587 | (142,374 | ) | ||||||||||||||||||||||
Barclays Bank PLC | Indian Rupee | 147,584,860 | Sell | 06/14/13 | 2,627,000 | 2,716,204 | (89,204 | ) | ||||||||||||||||||||||
Citigroup, Inc. | EU Euro | 13,972,464 | Sell | 07/12/13 | 18,298,884 | 18,410,071 | (111,187 | ) | ||||||||||||||||||||||
Citigroup, Inc. | Norwegian Krone | 4,218,205 | Sell | 07/12/13 | 719,000 | 729,498 | (10,498 | ) | ||||||||||||||||||||||
Citigroup, Inc. | South African Rand | 37,382,751 | Sell | 06/14/13 | 4,016,000 | 4,141,366 | (125,366 | ) | ||||||||||||||||||||||
Citigroup, Inc. | Canadian Dollar | 2,303,338 | Sell | 07/12/13 | 2,255,000 | 2,282,484 | (27,484 | ) | ||||||||||||||||||||||
Citigroup, Inc. | Malaysian Ringgit | 13,050,713 | Sell | 06/14/13 | 4,193,000 | 4,275,649 | (82,649 | ) | ||||||||||||||||||||||
Citigroup, Inc. | Indian Rupee | 213,789,800 | Sell | 06/14/13 | 3,866,000 | 3,934,663 | (68,663 | ) | ||||||||||||||||||||||
Citigroup, Inc. | British Pound | 1,947,812 | Sell | 07/12/13 | 2,971,000 | 3,024,334 | (53,334 | ) | ||||||||||||||||||||||
Citigroup, Inc. | British Pound | 2,183,080 | Sell | 07/12/13 | 3,331,000 | 3,389,630 | (58,630 | ) | ||||||||||||||||||||||
Citigroup, Inc. | Polish Zloty | 13,064,598 | Sell | 06/14/13 | 4,020,000 | 4,121,274 | (101,274 | ) | ||||||||||||||||||||||
Citigroup, Inc. | Canadian Dollar | 10,822,510 | Sell | 07/12/13 | 10,525,000 | 10,724,525 | (199,525 | ) | ||||||||||||||||||||||
Citigroup, Inc. | British Pound | 4,693,769 | Sell | 07/12/13 | 7,171,000 | 7,287,934 | (116,934 | ) | ||||||||||||||||||||||
Citigroup, Inc. | Japanese Yen | 1,018,885,901 | Sell | 07/12/13 | 10,402,952 | 10,455,794 | (52,842 | ) | ||||||||||||||||||||||
Citigroup, Inc. | EU Euro | 4,369,686 | Sell | 07/12/13 | 5,737,000 | 5,757,483 | (20,483 | ) | ||||||||||||||||||||||
Citigroup, Inc. | Norwegian Krone | 16,510,116 | Sell | 07/12/13 | 2,834,000 | 2,855,264 | (21,264 | ) | ||||||||||||||||||||||
Citigroup, Inc. | Canadian Dollar | 10,402,656 | Sell | 07/12/13 | 10,102,000 | 10,308,472 | (206,472 | ) | ||||||||||||||||||||||
Citigroup, Inc. | Canadian Dollar | 10,565,508 | Sell | 07/12/13 | 10,323,000 | 10,469,850 | (146,850 | ) | ||||||||||||||||||||||
Citigroup, Inc. | Australian Dollar | 8,360,792 | Sell | 07/12/13 | 8,622,000 | 8,621,499 | 501 | |||||||||||||||||||||||
Citigroup, Inc. | Swedish Krona | 38,629,857 | Sell | 07/12/13 | 6,036,000 | 5,950,863 | 85,137 | |||||||||||||||||||||||
Citigroup, Inc. | New Zealand Dollar | 6,053,296 | Sell | 07/12/13 | 5,164,000 | 5,163,006 | 994 | |||||||||||||||||||||||
Citigroup, Inc. | Japanese Yen | 818,969,611 | Sell | 07/12/13 | 8,346,000 | 8,404,256 | (58,256 | ) | ||||||||||||||||||||||
Citigroup, Inc. | Singapore Dollar | 5,038,833 | Sell | 06/14/13 | 4,029,000 | 4,091,001 | (62,001 | ) | ||||||||||||||||||||||
Citigroup, Inc. | British Pound | 4,300,366 | Sell | 07/12/13 | 6,615,000 | 6,677,104 | (62,104 | ) | ||||||||||||||||||||||
Citigroup, Inc. | South African Rand | 39,876,204 | Sell | 06/14/13 | 4,307,000 | 4,417,598 | (110,598 | ) | ||||||||||||||||||||||
Citigroup, Inc. | Mexican Peso | 50,989,269 | Sell | 06/14/13 | 4,032,000 | 4,184,067 | (152,067 | ) | ||||||||||||||||||||||
Citigroup, Inc. | South African Rand | 37,295,360 | Sell | 06/14/13 | 4,027,000 | 4,131,685 | (104,685 | ) | ||||||||||||||||||||||
Citigroup, Inc. | Polish Zloty | 12,933,950 | Sell | 06/14/13 | 4,050,000 | 4,080,061 | (30,061 | ) | ||||||||||||||||||||||
Citigroup, Inc. | Mexican Peso | 51,001,466 | Sell | 06/14/13 | 4,032,000 | 4,185,068 | (153,068 | ) | ||||||||||||||||||||||
Citigroup, Inc. | Mexican Peso | 51,374,914 | Sell | 06/14/13 | 4,064,000 | 4,215,712 | (151,712 | ) | ||||||||||||||||||||||
Citigroup, Inc. | Polish Zloty | 3,110,998 | Sell | 06/14/13 | 968,000 | 981,375 | (13,375 | ) | ||||||||||||||||||||||
Citigroup, Inc. | Colombian Peso | 15,380,205,440 | Sell | 07/12/13 | 8,332,000 | 8,377,275 | (45,275 | ) | ||||||||||||||||||||||
Citigroup, Inc. | South African Rand | 34,567,900 | Sell | 06/14/13 | 3,774,000 | 3,829,529 | (55,529 | ) | ||||||||||||||||||||||
Citigroup, Inc. | Mexican Peso | 52,753,494 | Sell | 06/14/13 | 4,088,000 | 4,328,836 | (240,836 | ) | ||||||||||||||||||||||
Citigroup, Inc. | Malaysian Ringgit | 15,257,251 | Sell | 06/14/13 | 4,877,638 | 4,998,551 | (120,913 | ) | ||||||||||||||||||||||
Credi Suisse Group AG | Japanese Yen | 824,534,085 | Sell | 07/12/13 | 8,430,000 | 8,461,358 | (31,358 | ) | ||||||||||||||||||||||
Credi Suisse Group AG | Turkish Lira | 20,013,095 | Sell | 06/14/13 | 10,887,937 | 11,112,232 | (224,295 | ) | ||||||||||||||||||||||
Deutsche Bank AG | Mexican Peso | 101,909,909 | Sell | 06/14/13 | 8,263,000 | 8,362,503 | (99,503 | ) | ||||||||||||||||||||||
Deutsche Bank AG | Turkish Lira | 17,837,635 | Sell | 06/14/13 | 9,778,129 | 9,904,311 | (126,182 | ) | ||||||||||||||||||||||
Deutsche Bank AG | Indian Rupee | 691,875,240 | Sell | 06/14/13 | 12,417,000 | 12,733,515 | (316,515 | ) | ||||||||||||||||||||||
Deutsche Bank AG | Australian Dollar | 2,314,238 | Sell | 07/12/13 | 2,385,000 | 2,386,400 | (1,400 | ) | ||||||||||||||||||||||
Deutsche Bank AG | British Pound | 5,472,202 | Sell | 07/12/13 | 8,396,000 | 8,496,593 | (100,593 | ) | ||||||||||||||||||||||
Deutsche Bank AG | EU Euro | 12,547,152 | Sell | 07/12/13 | 16,332,000 | 16,532,084 | (200,084 | ) |
AS OF APRIL 30, 2013 (UNAUDITED) (CONTINUED)
Counterparty | Currency | Contract Amount | Buy/Sell | Settlement Date | In Exchange For | Fair Value | Unrealized Appreciation (Depreciation) | |||||||||||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Deutsche Bank AG | Polish Zloty | 12,909,166 | Sell | 06/14/13 | $ | 4,040,000 | $ | 4,072,242 | $ | (32,242 | ) | |||||||||||||||||||
Deutsche Bank AG | South African Rand | 37,905,846 | Sell | 06/14/13 | 4,064,000 | 4,199,316 | (135,316 | ) | ||||||||||||||||||||||
Deutsche Bank AG | South Korean Won | 4,281,394,000 | Sell | 06/14/13 | 3,835,000 | 3,881,268 | (46,268 | ) | ||||||||||||||||||||||
Deutsche Bank AG | Singapore Dollar | 4,635,533 | Sell | 06/14/13 | 3,707,000 | 3,763,564 | (56,564 | ) | ||||||||||||||||||||||
Deutsche Bank AG | Polish Zloty | 13,069,671 | Sell | 06/14/13 | 4,040,000 | 4,122,874 | (82,874 | ) | ||||||||||||||||||||||
Deutsche Bank AG | South African Rand | 37,436,593 | Sell | 06/14/13 | 4,064,000 | 4,147,331 | (83,331 | ) | ||||||||||||||||||||||
Deutsche Bank AG | Polish Zloty | 13,000,171 | Sell | 06/14/13 | 4,064,000 | 4,100,950 | (36,950 | ) | ||||||||||||||||||||||
Deutsche Bank AG | Philippine Peso | 425,100,900 | Sell | 07/12/13 | 10,293,000 | 10,297,344 | (4,344 | ) | ||||||||||||||||||||||
Deutsche Bank AG | Mexican Peso | 92,294,367 | Sell | 06/14/13 | 7,183,000 | 7,573,473 | (390,473 | ) | ||||||||||||||||||||||
Deutsche Bank AG | Turkish Lira | 14,448,557 | Sell | 06/14/13 | 7,951,000 | 8,022,533 | (71,533 | ) | ||||||||||||||||||||||
Deutsche Bank AG | Thai Baht | 106,092,471 | Sell | 06/14/13 | 3,538,244 | 3,605,631 | (67,387 | ) | ||||||||||||||||||||||
Deutsche Bank AG | South Korean Won | 2,064,049,595 | Sell | 06/14/13 | 1,881,454 | 1,871,149 | 10,305 | |||||||||||||||||||||||
Deutsche Bank AG | Malaysian Ringgit | 7,961,671 | Sell | 06/14/13 | 2,551,000 | 2,608,387 | (57,387 | ) | ||||||||||||||||||||||
Deutsche Bank AG | Czech Koruna | 427,800,824 | Sell | 06/14/13 | 21,846,636 | 21,846,238 | 398 | |||||||||||||||||||||||
Deutsche Bank AG | Mexican Peso | 50,522,230 | Sell | 06/14/13 | 3,924,000 | 4,145,743 | (221,743 | ) | ||||||||||||||||||||||
Deutsche Bank AG | Brazilian Real | 17,574,225 | Sell | 07/12/13 | 8,610,595 | 8,699,068 | (88,473 | ) | ||||||||||||||||||||||
Deutsche Bank AG | Philippine Peso | 420,089,250 | Sell | 07/12/13 | 10,290,000 | 10,175,945 | 114,055 | |||||||||||||||||||||||
Deutsche Bank AG | Philippine Peso | 244,205,760 | Sell | 07/12/13 | 6,009,000 | 5,915,468 | 93,532 | |||||||||||||||||||||||
Goldman Sachs & Co. | Hungarian Forint | 148,039,844 | Sell | 06/14/13 | 635,125 | 648,332 | (13,207 | ) | ||||||||||||||||||||||
Goldman Sachs & Co. | EU Euro | 5,889,748 | Sell | 07/12/13 | 7,716,000 | 7,760,312 | (44,312 | ) | ||||||||||||||||||||||
Goldman Sachs & Co. | Canadian Dollar | 2,684,891 | Sell | 07/12/13 | 2,635,000 | 2,660,583 | (25,583 | ) | ||||||||||||||||||||||
Goldman Sachs & Co. | British Pound | 5,448,668 | Sell | 07/12/13 | 8,360,000 | 8,460,051 | (100,051 | ) | ||||||||||||||||||||||
Goldman Sachs & Co. | British Pound | 8,163,233 | Sell | 07/12/13 | 12,430,000 | 12,674,909 | (244,909 | ) | ||||||||||||||||||||||
Goldman Sachs & Co. | Norwegian Krone | 20,057,463 | Sell | 07/12/13 | 3,493,000 | 3,468,743 | 24,257 | |||||||||||||||||||||||
Goldman Sachs & Co. | South African Rand | 40,531,627 | Sell | 06/14/13 | 4,454,167 | 4,490,207 | (36,040 | ) | ||||||||||||||||||||||
HSBC | British Pound | 10,860,324 | Sell | 07/12/13 | 16,543,000 | 16,862,636 | (319,636 | ) | ||||||||||||||||||||||
JPMorgan Chase & Co. | Russian Ruble | 43,959,350 | Sell | 06/14/13 | 1,399,000 | 1,401,110 | (2,110 | ) | ||||||||||||||||||||||
JPMorgan Chase & Co. | Polish Zloty | 28,777,764 | Sell | 06/14/13 | 8,904,000 | 9,078,048 | (174,048 | ) | ||||||||||||||||||||||
JPMorgan Chase & Co. | Turkish Lira | 2,099,786 | Sell | 06/14/13 | 1,149,000 | 1,165,902 | (16,902 | ) | ||||||||||||||||||||||
JPMorgan Chase & Co. | British Pound | 6,284,881 | Sell | 07/12/13 | 9,731,000 | 9,758,424 | (27,424 | ) | ||||||||||||||||||||||
JPMorgan Chase & Co. | New Zealand Dollar | 12,535,511 | Sell | 07/12/13 | 10,599,000 | 10,691,847 | (92,847 | ) | ||||||||||||||||||||||
JPMorgan Chase & Co. | Australian Dollar | 8,162,750 | Sell | 07/12/13 | 8,339,000 | 8,417,281 | (78,281 | ) | ||||||||||||||||||||||
JPMorgan Chase & Co. | Norwegian Krone | 49,697,863 | Sell | 07/12/13 | 8,449,000 | 8,594,762 | (145,762 | ) | ||||||||||||||||||||||
JPMorgan Chase & Co. | Swedish Krona | 54,029,251 | Sell | 07/12/13 | 8,287,000 | 8,323,114 | (36,114 | ) | ||||||||||||||||||||||
JPMorgan Chase & Co. | Australian Dollar | 8,060,830 | Sell | 07/12/13 | 8,272,000 | 8,312,184 | (40,184 | ) | ||||||||||||||||||||||
JPMorgan Chase & Co. | Australian Dollar | 8,091,729 | Sell | 07/12/13 | 8,309,000 | 8,344,046 | (35,046 | ) | ||||||||||||||||||||||
JPMorgan Chase & Co. | Norwegian Krone | 85,651,004 | Sell | 07/12/13 | 14,873,000 | 14,812,508 | 60,492 | |||||||||||||||||||||||
JPMorgan Chase & Co. | British Pound | 6,408,431 | Sell | 07/12/13 | 9,837,000 | 9,950,260 | (113,260 | ) | ||||||||||||||||||||||
JPMorgan Chase & Co. | Australian Dollar | 3,839,149 | Sell | 07/12/13 | 4,022,000 | 3,958,861 | 63,139 | |||||||||||||||||||||||
JPMorgan Chase & Co. | New Zealand Dollar | 72,778 | Sell | 07/12/13 | 62,000 | 62,074 | (74 | ) | ||||||||||||||||||||||
UBS Warburg LLC | New Zealand Dollar | 3,853,422 | Sell | 07/12/13 | 3,232,000 | 3,286,679 | (54,679 | ) | ||||||||||||||||||||||
UBS Warburg LLC | New Zealand Dollar | 12,837,172 | Sell | 07/12/13 | 10,798,000 | 10,949,141 | (151,141 | ) | ||||||||||||||||||||||
UBS Warburg LLC | New Zealand Dollar | 19,701,012 | Sell | 07/12/13 | 16,763,000 | 16,803,480 | (40,480 | ) | ||||||||||||||||||||||
UBS Warburg LLC | Swedish Krona | 16,883,054 | Sell | 07/12/13 | 2,645,000 | 2,600,806 | 44,194 | |||||||||||||||||||||||
UBS Warburg LLC | EU Euro | 22,594,598 | Sell | 07/12/13 | 29,644,000 | 29,770,565 | (126,565 | ) | ||||||||||||||||||||||
$ | (7,078,072 | ) |
Contract Description | Number of Contracts | Expiration Date | Notional Value | Unrealized Appreciation/ (Depreciation) | ||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Long Contracts | ||||||||||||||||||
30-year German Government Bond | 22 | 06/06/13 | $ | 4,016,225 | $ | 158,378 | ||||||||||||
Australia 10-Year Bond | 34 | 06/17/13 | 4,403,108 | 172,787 | ||||||||||||||
Australia 3-Year Bond | 62 | 06/17/13 | 7,064,079 | 80,203 | ||||||||||||||
Canada 10-Year Bond | 124 | 06/19/13 | 16,830,374 | 219,641 | ||||||||||||||
Euro-Bobl 5-Year | 163 | 06/06/13 | 27,204,233 | 120,753 | ||||||||||||||
Euro-Schatz | 491 | 06/06/13 | 71,613,462 | 24,275 | ||||||||||||||
Long Gilt | 288 | 06/26/13 | 53,688,243 | 1,745,534 | ||||||||||||||
Short Gilt | 98 | 06/26/13 | 15,889,588 | (556 | ) | |||||||||||||
U.S. Treasury 2-Year Note | 259 | 06/28/13 | 57,141,875 | 37,050 | ||||||||||||||
$ | 257,851,187 | $ | 2,558,065 |
AS OF APRIL 30, 2013 (UNAUDITED) (CONTINUED)
Contract Description | Number of Contracts | Expiration Date | Notional Value | Unrealized Appreciation/ (Depreciation) | ||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Short Contracts | ||||||||||||||||||
Euro-Bund | (140 | ) | 06/06/13 | $ | (27,025,404 | ) | $ | (206,632 | ) | |||||||||
Medium Gilt | (151 | ) | 06/26/13 | (26,983,302 | ) | (300,300 | ) | |||||||||||
U.S. Treasury 10-Year Note | (422 | ) | 06/19/13 | (56,277,658 | ) | (502,182 | ) | |||||||||||
U.S. Treasury 5-Year Note | (518 | ) | 06/28/13 | (64,563,846 | ) | (393,286 | ) | |||||||||||
U.S. Treasury Long Bond | (26 | ) | 06/19/13 | (3,857,750 | ) | (18,886 | ) | |||||||||||
U.S. Treasury Ultra Long Bond | (173 | ) | 06/19/13 | (28,431,469 | ) | (138,218 | ) | |||||||||||
$ | (207,139,429 | ) | $ | (1,559,504 | ) |
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 10.365% Counterparty: Deutsche Bank AG | 01/02/17 | BRL 47,000,000 | $ | (1,439,939 | ) | $ | — | $ | (1,439,939 | ) | ||||||||||||
Receive a fixed rate equal to 8.860% and pay a floating rate based on the Brazil Cetip Interbank Deposit Rate Counterparty: Deutsche Bank AG | 01/02/17 | BRL 7,000,000 | 31,460 | — | 31,460 | |||||||||||||||||
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 | (1,467,079 | ) | — | (1,467,079 | ) | |||||||||||||||
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 | (642,212 | ) | — | (642,212 | ) | |||||||||||||||
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 | (635,363 | ) | — | (635,363 | ) | |||||||||||||||
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 | (1,357,204 | ) | — | (1,357,204 | ) | |||||||||||||||
$ | (5,510,337 | ) | $ | — | $ | (5,510,337 | ) |
Notional Amount | Counterparty | Description | Exercise Price | Expiration Date | Premiums Received | Fair Value | ||||||||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Options on Currencies | ||||||||||||||||||||||||||
81,800,000 | Barclays Bank PLC | EUR Put vs. USD Call Currency Option | 1.220 USD | 09/09/13 | $ | 654,400 | $ | (264,982 | ) | |||||||||||||||||
40,300,000 | Barclays Bank PLC | USD Put vs. JPY Call Currency Option | 88.500 USD | 06/13/13 | 137,020 | (12,439 | ) | |||||||||||||||||||
41,700,000 | Barclays Bank PLC | USD Put vs. JPY Call Currency Option | 90.000 USD | 07/15/13 | 114,675 | (78,039 | ) | |||||||||||||||||||
40,800,000 | Deutsche Bank AG | USD Put vs. JPY Call Currency Option | 86.000 USD | 05/16/13 | 110,548 | (38 | ) | |||||||||||||||||||
41,200,000 | Deutsche Bank AG | USD Put vs. JPY Call Currency Option | 92.000 USD | 10/29/13 | 352,672 | (467,236 | ) | |||||||||||||||||||
Total Written OTC Options | $ | 1,369,315 | $ | (822,734 | ) |
AS OF APRIL 30, 2013 (UNAUDITED) (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* | $ | 2,399,028 | |||||||
Foreign exchange contracts | Unrealized appreciation on forward foreign currency contracts | 8,915,977 | ||||||||
Interest rate contracts | Unrealized appreciation on OTC swap agreements | 31,460 | ||||||||
Interest rate contracts | Net Assets — Unrealized appreciation** | 2,558,621 | ||||||||
Total Asset Derivatives | $ | 13,905,086 | ||||||||
Liability Derivatives | ||||||||||
Foreign exchange contracts | Unrealized depreciation on forward foreign currency contracts | $ | 10,543,938 | |||||||
Interest rate contracts | Unrealized depreciation on OTC swap agreements | 5,541,797 | ||||||||
Interest rate contracts | Net Assets — Unrealized depreciation** | 1,560,060 | ||||||||
Foreign exchange contracts | Written options, at fair value | 822,734 | ||||||||
Total Liability Derivatives | $ | 18,468,529 |
* | 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 | $ | — | $ | — | $ | — | $ | (59,132 | ) | $ | — | $ | (59,132 | ) | |||||||||||||
Foreign exchange contracts | (1,023,922 | ) | (10,261,499 | ) | — | — | 943,732 | (10,341,689 | ) | ||||||||||||||||||
Interest rate contracts | (801,413 | ) | — | (1,586,774 | ) | (4,017,641 | ) | 101,496 | (6,304,332 | ) | |||||||||||||||||
Total | $ | (1,825,335 | ) | $ | (10,261,499 | ) | $ | (1,586,774 | ) | $ | (4,076,773 | ) | $ | 1,045,228 | $ | (16,705,153 | ) |
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 | (687,755 | ) | (5,124,262 | ) | — | — | (219,919 | ) | (6,031,936 | ) | |||||||||||||||||
Interest rate contracts | 102,851 | — | 1,139,374 | 2,968,769 | (26,063 | ) | 4,184,931 | ||||||||||||||||||||
Total | $ | (584,904 | ) | $ | (5,124,262 | ) | $ | 1,139,374 | $ | 2,968,383 | $ | (245,982 | ) | $ | (1,847,391 | ) |
* | 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 APRIL 30, 2013 (UNAUDITED)
Shares | | | | Value | | Percentage of Net Assets | |||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
MUTUAL FUNDS: 100.0% | |||||||||||||||||||
Affiliated Investment Companies: 100.0% | |||||||||||||||||||
1,382 | ING Core Equity Research Fund — Class I | $ | 20,385 | 10.0 | |||||||||||||||
1,769 | ING Emerging Markets Equity Fund — Class I | 20,454 | 10.0 | ||||||||||||||||
1,771 | ING Global Bond Fund — Class I | 20,348 | 10.0 | ||||||||||||||||
1,049 | ING Global Real Estate Fund — Class I | 21,168 | 10.4 | ||||||||||||||||
2,238 | ING GNMA Income Fund — Class I | 20,099 | 9.8 | ||||||||||||||||
2,407 | ING High Yield Bond Fund — Class I | 20,339 | 9.9 | ||||||||||||||||
1,982 | ING Intermediate Bond Fund — Class I | 20,236 | 9.9 | ||||||||||||||||
2,018 | ING International Core Fund — Class I | 20,790 | 10.2 | ||||||||||||||||
852 | ING MidCap Opportunities Fund — Class I | 20,335 | 9.9 | ||||||||||||||||
1,264 | ING Small Company Fund — Class I | 20,327 | 9.9 | ||||||||||||||||
Total Mutual Funds (Cost $200,461) | 204,481 | 100.0 | |||||||||||||||||
Liabilities in Excess of Other Assets | (52 | ) | — | ||||||||||||||||
Net Assets | $ | 204,429 | 100.0 |
Cost for federal income tax purposes is the same as for financial statement purposes. |
Net unrealized appreciation consists of: | ||||||
Gross Unrealized Appreciation | $ | 4,020 | ||||
Gross Unrealized Depreciation | — | |||||
Net Unrealized Appreciation | $ | 4,020 |
Quoted Prices in Active Markets for Identical Investments (Level 1) | Significant Other Observable Inputs (Level 2) | Significant Unobservable Inputs (Level 3) | Fair Value at April 30, 2013 | |||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Asset Table | ||||||||||||||||||
Investments, at fair value | ||||||||||||||||||
Mutual Funds | $ | 204,481 | $ | — | $ | — | $ | 204,481 | ||||||||||
Total Investments, at fair value | $ | 204,481 | $ | — | $ | — | $ | 204,481 |
ˆ | See Note 2, “Significant Accounting Policies” in the Notes to Financial Statements for additional information. |
AS OF APRIL 30, 2013 (UNAUDITED)
Shares | | | | Value | | Percentage of Net Assets | |||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
COMMON STOCK: 95.4% | |||||||||||||||||||
Australia: 4.3% | |||||||||||||||||||
97,932 | Domino’s Pizza Enterprises Ltd. | $ | 1,331,006 | 0.5 | |||||||||||||||
339,526 | SAI Global Ltd. | 1,240,766 | 0.5 | ||||||||||||||||
4,356,110 | Other Securities | 8,401,620 | 3.3 | ||||||||||||||||
10,973,392 | 4.3 | ||||||||||||||||||
Austria: 1.4% | |||||||||||||||||||
13,617 | Schoeller-Bleckmann Oilfield Equipment AG | 1,331,956 | 0.5 | ||||||||||||||||
124,642 | Other Securities | 2,332,349 | 0.9 | ||||||||||||||||
3,664,305 | 1.4 | ||||||||||||||||||
Belgium: 1.9% | |||||||||||||||||||
43,523 | D’ieteren SA | 2,006,117 | 0.8 | ||||||||||||||||
294,105 | Other Securities | 2,852,476 | 1.1 | ||||||||||||||||
4,858,593 | 1.9 | ||||||||||||||||||
Bermuda: 0.0% | |||||||||||||||||||
26,861 | Other Securities | 91,744 | 0.0 | ||||||||||||||||
Brazil: 0.5% | |||||||||||||||||||
158,400 | Other Securities | 1,297,756 | 0.5 | ||||||||||||||||
British Virgin Islands: 0.0% | |||||||||||||||||||
84,324 | Other Securities | 25,542 | 0.0 | ||||||||||||||||
Canada: 4.2% | |||||||||||||||||||
39,600 | Dorel Industries, Inc. | 1,709,861 | 0.7 | ||||||||||||||||
89,404 | Parkland Fuel Corp. | 1,477,569 | 0.6 | ||||||||||||||||
608,248 | Other Securities | 7,460,382 | 2.9 | ||||||||||||||||
10,647,812 | 4.2 | ||||||||||||||||||
Cayman Islands: 0.0% | |||||||||||||||||||
20,843 | Other Securities | 26,715 | 0.0 | ||||||||||||||||
China: 0.9% | |||||||||||||||||||
5,519,022 | Other Securities | 2,341,118 | 0.9 | ||||||||||||||||
Colombia: 0.0% | |||||||||||||||||||
11,218 | Other Securities | 61,911 | 0.0 | ||||||||||||||||
Denmark: 1.3% | |||||||||||||||||||
63,316 | DSV A/S | 1,594,841 | 0.6 | ||||||||||||||||
41,619 | Other Securities | 1,665,461 | 0.7 | ||||||||||||||||
3,260,302 | 1.3 | ||||||||||||||||||
Finland: 0.7% | |||||||||||||||||||
120,644 | Other Securities | 1,715,926 | 0.7 | ||||||||||||||||
France: 5.7% | |||||||||||||||||||
25,344 | Eurazeo | 1,344,759 | 0.5 | ||||||||||||||||
22,232 | Imerys S.A. | 1,463,761 | 0.6 | ||||||||||||||||
45,238 | Teleperformance | 1,989,499 | 0.8 | ||||||||||||||||
126,063 | @ | UbiSoft Entertainment | 1,408,471 | 0.5 | |||||||||||||||
11,906 | Wendel | 1,290,427 | 0.5 | ||||||||||||||||
592,798 | Other Securities | 7,056,858 | 2.8 | ||||||||||||||||
14,553,775 | 5.7 | ||||||||||||||||||
Gabon: 0.0% | |||||||||||||||||||
106 | Other Securities | 64,911 | 0.0 | ||||||||||||||||
COMMON STOCK: (continued) | |||||||||||||||||||
Germany: 8.5% | |||||||||||||||||||
25,231 | Aurubis AG | $ | 1,591,750 | 0.6 | |||||||||||||||
112,637 | Deutsche Lufthansa AG | 2,255,263 | 0.9 | ||||||||||||||||
18,414 | Draegerwerk AG & Co. KGaA | 2,272,458 | 0.9 | ||||||||||||||||
33,479 | Jungheinrich AG | 1,382,407 | 0.6 | ||||||||||||||||
21,841 | MTU Aero Engines Holding AG | 2,068,922 | 0.8 | ||||||||||||||||
29,981 | Stratec Biomedical Systems AG | 1,350,928 | 0.5 | ||||||||||||||||
577,049 | Other Securities | 10,749,283 | 4.2 | ||||||||||||||||
21,671,011 | 8.5 | ||||||||||||||||||
Greece: 0.0% | |||||||||||||||||||
8,887 | Other Securities | 91,892 | 0.0 | ||||||||||||||||
Guernsey: 0.0% | |||||||||||||||||||
28,845 | Other Securities | 32,709 | 0.0 | ||||||||||||||||
Hong Kong: 2.2% | |||||||||||||||||||
36,689,264 | Other Securities | 5,584,313 | 2.2 | ||||||||||||||||
Hungary: 0.0% | |||||||||||||||||||
1,028 | Other Securities | 81,244 | 0.0 | ||||||||||||||||
India: 0.5% | |||||||||||||||||||
516,921 | Other Securities | 1,341,464 | 0.5 | ||||||||||||||||
Indonesia: 0.1% | |||||||||||||||||||
7,394,462 | Other Securities | 342,203 | 0.1 | ||||||||||||||||
Ireland: 0.3% | |||||||||||||||||||
42,009 | Other Securities | 638,537 | 0.3 | ||||||||||||||||
Israel: 0.1% | |||||||||||||||||||
37,040 | Other Securities | 116,054 | 0.1 | ||||||||||||||||
Italy: 4.5% | |||||||||||||||||||
137,886 | @ | Safilo Group SpA | 2,259,840 | 0.9 | |||||||||||||||
1,001,235 | Other Securities | 9,208,228 | 3.6 | ||||||||||||||||
11,468,068 | 4.5 | ||||||||||||||||||
Japan: 29.5% | |||||||||||||||||||
200,000 | Amada Co., Ltd. | 1,604,852 | 0.6 | ||||||||||||||||
33,200 | Don Quijote Co., Ltd. | 1,809,069 | 0.7 | ||||||||||||||||
39,800 | Hoshizaki Electric Co., Ltd. | 1,325,576 | 0.5 | ||||||||||||||||
514,000 | IHI Corp. | 1,916,675 | 0.8 | ||||||||||||||||
60,300 | Kakaku.com, Inc. | 1,558,873 | 0.6 | ||||||||||||||||
1,513,000 | @ | Kanematsu Corp. | 2,098,356 | 0.8 | |||||||||||||||
443 | Message Co., Ltd. | 1,308,755 | 0.5 | ||||||||||||||||
320,400 | Mitsubishi UFJ Lease & Finance Co., Ltd. | 1,809,811 | 0.7 | ||||||||||||||||
103,900 | Mori Seiki Co., Ltd. | 1,305,703 | 0.5 | ||||||||||||||||
141,000 | Nihon Nohyaku Co., Ltd. | 1,341,252 | 0.5 | ||||||||||||||||
199,000 | Nikkiso Co., Ltd. | 2,820,096 | 1.1 | ||||||||||||||||
91,000 | Nippo Corp. | 1,363,749 | 0.5 | ||||||||||||||||
21,600 | Pigeon Corp. | 1,858,232 | 0.7 | ||||||||||||||||
109,700 | Shionogi & Co., Ltd. | 2,698,286 | 1.1 | ||||||||||||||||
156,000 | Yaskawa Electric Corp. | 1,908,770 | 0.8 |
AS OF APRIL 30, 2013 (UNAUDITED) (CONTINUED)
Shares | | | | Value | | Percentage of Net Assets | |||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
COMMON STOCK: (continued) | |||||||||||||||||||
Japan: (continued) | |||||||||||||||||||
982,000 | Yuasa Trading Co., Ltd. | $ | 2,077,871 | 0.8 | |||||||||||||||
5,723,780 | Other Securities | 46,694,800 | 18.3 | ||||||||||||||||
75,500,726 | 29.5 | ||||||||||||||||||
Liechtenstein: 0.0% | |||||||||||||||||||
404 | Other Securities | 32,370 | 0.0 | ||||||||||||||||
Luxembourg: 1.1% | |||||||||||||||||||
73,837 | # | O’Key Group SA GDR | 886,044 | 0.3 | |||||||||||||||
70,000 | @ | Reinet Investments SCA | 1,405,845 | 0.6 | |||||||||||||||
81,643 | Other Securities | 439,800 | 0.2 | ||||||||||||||||
2,731,689 | 1.1 | ||||||||||||||||||
Malaysia: 0.5% | |||||||||||||||||||
1,710,695 | Other Securities | 1,288,453 | 0.5 | ||||||||||||||||
Mexico: 0.3% | |||||||||||||||||||
274,681 | Other Securities | 760,368 | 0.3 | ||||||||||||||||
Netherlands: 0.3% | |||||||||||||||||||
580,569 | Other Securities | 851,278 | 0.3 | ||||||||||||||||
Norway: 1.3% | |||||||||||||||||||
1,156,860 | Other Securities | 3,346,839 | 1.3 | ||||||||||||||||
Pakistan: 0.1% | |||||||||||||||||||
1,375,131 | Other Securities | 218,857 | 0.1 | ||||||||||||||||
Philippines: 0.1% | |||||||||||||||||||
679,400 | Other Securities | 150,714 | 0.1 | ||||||||||||||||
Poland: 0.2% | |||||||||||||||||||
84,601 | Other Securities | 507,158 | 0.2 | ||||||||||||||||
Portugal: 0.2% | |||||||||||||||||||
148,596 | Other Securities | 404,332 | 0.2 | ||||||||||||||||
Singapore: 1.0% | |||||||||||||||||||
3,970,392 | Other Securities | 2,590,751 | 1.0 | ||||||||||||||||
South Africa: 0.3% | |||||||||||||||||||
443,551 | Other Securities | 806,803 | 0.3 | ||||||||||||||||
South Korea: 2.2% | |||||||||||||||||||
371,863 | Other Securities | 5,693,621 | 2.2 | ||||||||||||||||
Spain: 0.1% | |||||||||||||||||||
39,315 | Other Securities | 244,866 | 0.1 | ||||||||||||||||
Sweden: 0.2% | |||||||||||||||||||
72,741 | Other Securities | 548,852 | 0.2 | ||||||||||||||||
Switzerland: 3.0% | |||||||||||||||||||
9,599 | @ | Dufry Group | 1,278,812 | 0.5 | |||||||||||||||
4,870 | Partners Group | 1,249,471 | 0.5 | ||||||||||||||||
15,057 | Tecan Group AG | 1,400,764 | 0.5 | ||||||||||||||||
84,424 | Other Securities | 3,775,568 | 1.5 | ||||||||||||||||
7,704,615 | 3.0 | ||||||||||||||||||
COMMON STOCK: (continued) | |||||||||||||||||||
Taiwan: 1.4% | |||||||||||||||||||
5,519,065 | Other Securities | $ | 3,490,560 | 1.4 | |||||||||||||||
Thailand: 1.5% | |||||||||||||||||||
1,751,000 | Krung Thai Bank PCL | 1,482,231 | 0.6 | ||||||||||||||||
1,274,500 | Thanachart Capital PCL | 2,078,270 | 0.8 | ||||||||||||||||
122,400 | Other Securities | 164,481 | 0.1 | ||||||||||||||||
3,724,982 | 1.5 | ||||||||||||||||||
Turkey: 0.5% | |||||||||||||||||||
830,965 | Other Securities | 1,260,224 | 0.5 | ||||||||||||||||
United Kingdom: 14.5% | |||||||||||||||||||
122,218 | Babcock International Group | 2,033,715 | 0.8 | ||||||||||||||||
38,709 | �� | Berkeley Group Holdings PLC | 1,255,112 | 0.5 | |||||||||||||||
129,010 | Domino’s Pizza Group PLC | 1,305,782 | 0.5 | ||||||||||||||||
734,199 | @ | EnQuest PLC | 1,470,948 | 0.6 | |||||||||||||||
513,154 | Home Retail Group | 1,242,756 | 0.5 | ||||||||||||||||
146,571 | IG Group Holdings PLC | 1,227,644 | 0.5 | ||||||||||||||||
243,603 | Interserve PLC | 1,793,299 | 0.7 | ||||||||||||||||
83,724 | Kier Group PLC | 1,525,121 | 0.6 | ||||||||||||||||
127,091 | Mondi PLC | 1,688,975 | 0.6 | ||||||||||||||||
86,989 | Persimmon PLC | 1,461,302 | 0.6 | ||||||||||||||||
86,989 | @ | Persimmon PLC — B/C shares | 101,343 | 0.0 | |||||||||||||||
7,664,888 | Other Securities | 22,094,848 | 8.6 | ||||||||||||||||
37,200,845 | 14.5 | ||||||||||||||||||
Total Common Stock (Cost $225,300,246) | 244,010,200 | 95.4 | |||||||||||||||||
RIGHTS: 0.0% | |||||||||||||||||||
Israel: 0.0% | |||||||||||||||||||
774 | Other Securities | 2,555 | 0.0 | ||||||||||||||||
South Korea: 0.0% | |||||||||||||||||||
550 | Other Securities | 15,906 | 0.0 | ||||||||||||||||
Total Rights (Cost $—) | 18,461 | 0.0 | |||||||||||||||||
ASSET MANAGEMENT: 0.1% | |||||||||||||||||||
Bermuda: 0.1% | |||||||||||||||||||
504,000 | Other Securities | 69,154 | 0.1 | ||||||||||||||||
Total Asset Management (Cost $69,585) | 69,154 | 0.1 | |||||||||||||||||
Total Long-Term Investments (Cost $225,369,831) | 244,097,815 | 95.5 |
AS OF APRIL 30, 2013 (UNAUDITED) (CONTINUED)
Principal Amount† | | | | Value | | Percentage of Net Assets | |||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
SHORT-TERM INVESTMENTS: 1.4% | |||||||||||||||||||
Securities Lending Collateralcc(1): 1.4% | |||||||||||||||||||
1,000,000 | Cantor Fitzgerald, Repurchase Agreement dated 04/30/13, 0.20%, due 05/01/13 (Repurchase Amount $1,000,005, collateralized by various U.S. Government/U.S. Government Agency Obligations, 0.350%–6.430%, Market Value plus accrued interest $1,018,823, due 02/28/14–05/01/51) | $ | 1,000,000 | 0.4 | |||||||||||||||
1,000,000 | Citigroup, Inc., Repurchase Agreement dated 04/30/13, 0.18%, due 05/01/13 (Repurchase Amount $1,000,005, collateralized by various U.S. Government Agency Obligations, 0.841%–6.500%, Market Value plus accrued interest $1,020,439, due 11/01/18–03/15/53) | 1,000,000 | 0.4 | ||||||||||||||||
1,000,000 | Daiwa Capital Markets, Repurchase Agreement dated 03/28/13, 0.20%, due 05/01/13 (Repurchase Amount $1,000,186, collateralized by various U.S. Government Agency Obligations, 1.378%–6.500%, Market Value plus accrued interest $1,020,101, due 06/01/17–03/01/48) | 1,000,000 | 0.4 | ||||||||||||||||
655,571 | JPMorgan Chase & Co., Repurchase Agreement dated 04/30/13, 0.14%, due 05/01/13 (Repurchase Amount $655,574, collateralized by various U.S. Government Securities, 0.625%–3.625%, Market Value plus accrued interest $668,693, due 01/15/25–02/15/43) | 655,571 | 0.2 | ||||||||||||||||
3,655,571 | 1.4 |
Shares | | | | Value | | Percentage of Net Assets | |||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
SHORT-TERM INVESTMENTS: (continued) | |||||||||||||||||||
Mutual Funds: 0.0% | |||||||||||||||||||
4,121 | BlackRock Liquidity Funds, TempFund, Institutional Class (Cost $4,121) | $ | 4,121 | 0.0 | |||||||||||||||
Total Short-Term Investments (Cost $3,659,692) | 3,659,692 | 1.4 | |||||||||||||||||
Total Investments in Securities (Cost $229,029,523) | $ | 247,757,507 | 96.9 | ||||||||||||||||
Assets in Excess of Other Liabilities | 8,024,767 | 3.1 | |||||||||||||||||
Net Assets | $ | 255,782,274 | 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 |
GDR | Global 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. |
Cost for federal income tax purposes is $230,256,523. |
Net unrealized appreciation consists of: | ||||||
Gross Unrealized Appreciation | $ | 32,967,621 | ||||
Gross Unrealized Depreciation | (15,466,637 | ) | ||||
Net Unrealized Appreciation | $ | 17,500,984 |
Sector Diversification | Percentage of Net Assets | |||||
---|---|---|---|---|---|---|
Industrials | 26.2 | % | ||||
Consumer Discretionary | 18.2 | |||||
Financials | 12.9 | |||||
Information Technology | 10.5 | |||||
Materials | 9.6 | |||||
Health Care | 6.8 | |||||
Energy | 6.2 | |||||
Consumer Staples | 4.1 | |||||
Utilities | 0.9 | |||||
Telecommunication Services | 0.1 | |||||
Rights | 0.0 | |||||
Short-Term Investments | 1.4 | |||||
Assets in Excess of Other Liabilities | 3.1 | |||||
Net Assets | 100.0 | % |
AS OF APRIL 30, 2013 (UNAUDITED) (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 April 30, 2013 | |||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Asset Table | ||||||||||||||||||
Investments, at fair value | ||||||||||||||||||
Common Stock | ||||||||||||||||||
Australia | $ | 1,476,042 | $ | 9,058,647 | $ | 438,703 | $ | 10,973,392 | ||||||||||
Austria | — | 3,664,305 | — | 3,664,305 | ||||||||||||||
Belgium | 3,465,286 | 1,393,307 | — | 4,858,593 | ||||||||||||||
Bermuda | 91,744 | — | — | 91,744 | ||||||||||||||
Brazil | 1,297,756 | — | — | 1,297,756 | ||||||||||||||
British Virgin Islands | 25,542 | — | — | 25,542 | ||||||||||||||
Canada | 10,647,812 | — | — | 10,647,812 | ||||||||||||||
Cayman Islands | — | 26,715 | — | 26,715 | ||||||||||||||
China | 1,038,988 | 1,276,014 | 26,116 | 2,341,118 | ||||||||||||||
Colombia | 61,911 | — | — | 61,911 | ||||||||||||||
Denmark | 723,083 | 2,537,219 | — | 3,260,302 | ||||||||||||||
Finland | 125,726 | 1,590,200 | — | 1,715,926 | ||||||||||||||
France | 2,103,816 | 12,449,959 | — | 14,553,775 | ||||||||||||||
Gabon | 64,911 | — | — | 64,911 | ||||||||||||||
Germany | 2,588,091 | 19,082,920 | — | 21,671,011 | ||||||||||||||
Greece | 91,892 | — | — | 91,892 | ||||||||||||||
Guernsey | 32,709 | — | — | 32,709 | ||||||||||||||
Hong Kong | 149,116 | 5,372,349 | 62,848 | 5,584,313 | ||||||||||||||
Hungary | — | 81,244 | — | 81,244 | ||||||||||||||
India | 427,690 | 913,774 | — | 1,341,464 | ||||||||||||||
Indonesia | — | 342,203 | — | 342,203 | ||||||||||||||
Ireland | 638,537 | — | — | 638,537 | ||||||||||||||
Israel | — | 116,054 | — | 116,054 | ||||||||||||||
Italy | — | 11,468,068 | — | 11,468,068 | ||||||||||||||
Japan | 1,381,660 | 74,119,066 | — | 75,500,726 | ||||||||||||||
Liechtenstein | 32,370 | — | — | 32,370 | ||||||||||||||
Luxembourg | 2,388,432 | 343,257 | — | 2,731,689 | ||||||||||||||
Malaysia | 865,780 | 422,673 | — | 1,288,453 | ||||||||||||||
Mexico | 760,368 | — | — | 760,368 | ||||||||||||||
Netherlands | 233,371 | 617,907 | — | 851,278 | ||||||||||||||
Norway | 1,205,465 | 2,141,374 | — | 3,346,839 | ||||||||||||||
Pakistan | 218,857 | — | — | 218,857 | ||||||||||||||
Philippines | — | 150,714 | — | 150,714 | ||||||||||||||
Poland | — | 507,158 | — | 507,158 | ||||||||||||||
Portugal | 309,429 | 94,903 | — | 404,332 | ||||||||||||||
Singapore | 6,946 | 2,583,805 | — | 2,590,751 | ||||||||||||||
South Africa | 476,830 | 329,973 | — | 806,803 | ||||||||||||||
South Korea | 159,428 | 5,534,193 | — | 5,693,621 | ||||||||||||||
Spain | — | 244,866 | — | 244,866 | ||||||||||||||
Sweden | — | 548,852 | — | 548,852 | ||||||||||||||
Switzerland | 2,005,945 | 5,698,670 | — | 7,704,615 | ||||||||||||||
Taiwan | 740,103 | 2,750,457 | — | 3,490,560 | ||||||||||||||
Thailand | — | 3,724,982 | — | 3,724,982 | ||||||||||||||
Turkey | — | 1,260,224 | — | 1,260,224 | ||||||||||||||
United Kingdom | 9,368,200 | 27,832,645 | — | 37,200,845 | ||||||||||||||
Total Common Stock | 45,203,836 | 198,278,697 | 527,667 | 244,010,200 | ||||||||||||||
Rights | — | 18,461 | — | 18,461 | ||||||||||||||
Short-Term Investments | 4,121 | 3,655,571 | — | 3,659,692 | ||||||||||||||
Asset Management | 69,154 | — | — | 69,154 | ||||||||||||||
Total Investments, at fair value | $ | 45,277,111 | $ | 201,952,729 | $ | 527,667 | $ | 247,757,507 | ||||||||||
Other Financial Instruments+ | ||||||||||||||||||
Forward Foreign Currency Contracts | — | 652 | — | 652 | ||||||||||||||
Total Assets | $ | 45,277,111 | $ | 201,953,381 | $ | 527,667 | $ | 247,758,159 |
ˆ | See Note 2, “Significant Accounting Policies” in the Notes to Financial Statements for additional information. |
AS OF APRIL 30, 2013 (UNAUDITED) (CONTINUED)
# | The earlier close of the foreign markets gives rise to the possibility that significant events, including broad market moves, may have occurred in the interim and may materially affect the value of those securities. To account for this, the 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. |
Counterparty | Currency | Contract Amount | Buy/Sell | Settlement Date | In Exchange For | Fair Value | Unrealized Appreciation (Depreciation) | |||||||||||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
State Street Bank | South African Rand | 332,861 | Buy | 05/02/13 | $ | 3,626,257 | $ | 3,626,909 | $ | 652 | ||||||||||||||||||||
$ | 652 |
Derivatives not accounted for as hedging instruments | Location on Statement of Assets and Liabilities | Fair Value | |||||||
---|---|---|---|---|---|---|---|---|---|
Asset Derivatives | |||||||||
Foreign exchange contracts | Unrealized appreciation on forward foreign currency contracts | $ | 652 | ||||||
Total Asset Derivatives | $ | 652 |
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 | $ | (141,498 | ) | |||
Total | $ | (141,498 | ) |
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 | $ | 652 | ||||
Total | $ | 652 |
* | 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 APRIL 30, 2013 (UNAUDITED)
Shares | | | | Value | | Percentage of Net Assets | |||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
COMMON STOCK: 99.7% | |||||||||||||||||||
Australia: 1.5% | |||||||||||||||||||
6,497 | Australia & New Zealand Banking Group Ltd. | $ | 214,708 | 1.5 | |||||||||||||||
Belgium: 1.4% | |||||||||||||||||||
5,128 | KBC Groep NV | 200,715 | 1.4 | ||||||||||||||||
Canada: 0.3% | |||||||||||||||||||
2,500 | Other Securities | 49,275 | 0.3 | ||||||||||||||||
Denmark: 1.4% | |||||||||||||||||||
10,442 | @ | Danske Bank A/S | 197,738 | 1.4 | |||||||||||||||
Finland: 0.8% | |||||||||||||||||||
6,508 | Other Securities | 120,967 | 0.8 | ||||||||||||||||
France: 12.7% | |||||||||||||||||||
11,039 | AXA S.A. | 206,723 | 1.4 | ||||||||||||||||
6,241 | Carrefour S.A. | 185,353 | 1.3 | ||||||||||||||||
861 | PPR | 189,653 | 1.3 | ||||||||||||||||
2,081 | Renault S.A. | 143,620 | 1.0 | ||||||||||||||||
2,659 | Sanofi | 287,480 | 2.0 | ||||||||||||||||
4,591 | @ | Societe Generale | 166,777 | 1.1 | |||||||||||||||
10,052 | Suez Environnement S.A. | 144,258 | 1.0 | ||||||||||||||||
7,376 | Other Securities | 534,285 | 3.6 | ||||||||||||||||
1,858,149 | 12.7 | ||||||||||||||||||
Germany: 7.0% | |||||||||||||||||||
2,179 | Bayer AG | 227,807 | 1.6 | ||||||||||||||||
9,643 | Deutsche Post AG | 229,223 | 1.6 | ||||||||||||||||
2,937 | Siemens AG | 306,878 | 2.1 | ||||||||||||||||
2,720 | Other Securities | 253,217 | 1.7 | ||||||||||||||||
1,017,125 | 7.0 | ||||||||||||||||||
Hong Kong: 4.3% | |||||||||||||||||||
16,000 | Power Assets Holdings Ltd. | 156,461 | 1.1 | ||||||||||||||||
23,000 | Wharf Holdings Ltd. | 205,438 | 1.4 | ||||||||||||||||
90,000 | Other Securities | 269,973 | 1.8 | ||||||||||||||||
631,872 | 4.3 | ||||||||||||||||||
Italy: 4.3% | |||||||||||||||||||
8,619 | ENI S.p.A. | 205,705 | 1.4 | ||||||||||||||||
14,375 | Fiat Industrial SpA | 162,327 | 1.1 | ||||||||||||||||
161,400 | Telecom Italia S.p.A. | 137,093 | 0.9 | ||||||||||||||||
32,785 | Other Securities | 126,792 | 0.9 | ||||||||||||||||
631,917 | 4.3 | ||||||||||||||||||
Japan: 21.2% | |||||||||||||||||||
15,000 | Ajinomoto Co., Inc. | 205,866 | 1.4 | ||||||||||||||||
2,000 | East Japan Railway Co. | 168,834 | 1.2 | ||||||||||||||||
32,000 | Hitachi Ltd. | 204,507 | 1.4 | ||||||||||||||||
7,300 | Hoya Corp. | 146,265 | 1.0 | ||||||||||||||||
4,700 | Japan Tobacco, Inc. | 177,666 | 1.2 | ||||||||||||||||
5,800 | Komatsu Ltd. | 158,908 | 1.1 | ||||||||||||||||
6,600 | Mitsubishi Corp. | 118,815 | 0.8 | ||||||||||||||||
6,000 | Mitsubishi Estate Co., Ltd. | 195,427 | 1.3 | ||||||||||||||||
7,300 | Omron Corp. | 230,606 | 1.6 | ||||||||||||||||
COMMON STOCK: (continued) | |||||||||||||||||||
Japan: (continued) | |||||||||||||||||||
7,000 | Sumitomo Mitsui Financial Group, Inc. | $ | 330,871 | 2.3 | |||||||||||||||
2,000 | Sumitomo Realty & Development Co., Ltd. | 94,523 | 0.6 | ||||||||||||||||
7,700 | Tokio Marine Holdings, Inc. | 244,704 | 1.7 | ||||||||||||||||
3,400 | Tokyo Electron Ltd. | 174,026 | 1.2 | ||||||||||||||||
3,400 | Toyota Motor Corp. | 197,329 | 1.4 | ||||||||||||||||
32,600 | Other Securities | 440,988 | 3.0 | ||||||||||||||||
3,089,335 | 21.2 | ||||||||||||||||||
Luxembourg: 0.4% | |||||||||||||||||||
4,300 | Other Securities | 53,707 | 0.4 | ||||||||||||||||
Netherlands: 8.6% | |||||||||||||||||||
27,043 | Aegon NV | 180,640 | 1.3 | ||||||||||||||||
2,062 | Koninklijke DSM NV | 132,908 | 0.9 | ||||||||||||||||
7,465 | Koninklijke Philips Electronics NV | 206,617 | 1.4 | ||||||||||||||||
8,414 | Reed Elsevier NV | 136,566 | 1.0 | ||||||||||||||||
13,405 | Royal Dutch Shell PLC — Class A | 456,377 | 3.1 | ||||||||||||||||
2,540 | Other Securities | 134,192 | 0.9 | ||||||||||||||||
1,247,300 | 8.6 | ||||||||||||||||||
New Zealand: 1.1% | |||||||||||||||||||
72,678 | Telecom Corp. of New Zealand Ltd. | 162,290 | 1.1 | ||||||||||||||||
Norway: 2.1% | |||||||||||||||||||
9,771 | @ | DnB NOR ASA | 160,005 | 1.1 | |||||||||||||||
6,020 | Statoil ASA | 147,378 | 1.0 | ||||||||||||||||
307,383 | 2.1 | ||||||||||||||||||
Singapore: 1.2% | |||||||||||||||||||
55,000 | Singapore Telecommunications Ltd. | 175,687 | 1.2 | ||||||||||||||||
Spain: 3.0% | |||||||||||||||||||
17,780 | Banco Bilbao Vizcaya Argentaria S.A. | 173,081 | 1.2 | ||||||||||||||||
7,343 | Gas Natural SDG S.A. | 153,760 | 1.1 | ||||||||||||||||
135,686 | Other Securities | 105,645 | 0.7 | ||||||||||||||||
432,486 | 3.0 | ||||||||||||||||||
Sweden: 1.9% | |||||||||||||||||||
12,885 | Telefonaktiebolaget LM Ericsson | 160,243 | 1.1 | ||||||||||||||||
9,518 | Other Securities | 114,530 | 0.8 | ||||||||||||||||
274,773 | 1.9 | ||||||||||||||||||
Switzerland: 9.0% | |||||||||||||||||||
6,422 | Credit Suisse Group | 178,343 | 1.2 | ||||||||||||||||
4,050 | Nestle S.A. | 288,816 | 2.0 | ||||||||||||||||
5,255 | Novartis AG | 389,015 | 2.7 | ||||||||||||||||
1,806 | Roche Holding AG — Genusschein | 452,115 | 3.1 | ||||||||||||||||
1,308,289 | 9.0 |
AS OF APRIL 30, 2013 (UNAUDITED) (CONTINUED)
Shares | | | | Value | | Percentage of Net Assets | |||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
COMMON STOCK: (continued) | |||||||||||||||||||
United Kingdom: 15.0% | |||||||||||||||||||
62,192 | Barclays PLC | $ | 277,531 | 1.9 | |||||||||||||||
8,428 | BHP Billiton PLC | 237,103 | 1.6 | ||||||||||||||||
3,200 | BP PLC ADR | 139,520 | 1.0 | ||||||||||||||||
7,591 | GlaxoSmithKline PLC | 195,859 | 1.4 | ||||||||||||||||
17,023 | HSBC Holdings PLC | 186,436 | 1.3 | ||||||||||||||||
3,867 | Rio Tinto PLC | 177,573 | 1.2 | ||||||||||||||||
35,787 | Tesco PLC | 203,556 | 1.4 | ||||||||||||||||
121,392 | Vodafone Group PLC | 370,403 | 2.5 | ||||||||||||||||
9,697 | WPP PLC | 160,314 | 1.1 | ||||||||||||||||
18,170 | Other Securities | 239,943 | 1.6 | ||||||||||||||||
2,188,238 | 15.0 | ||||||||||||||||||
United States: 2.5% | |||||||||||||||||||
10,200 | Other Securities | 362,296 | 2.5 | ||||||||||||||||
Total Common Stock (Cost $12,350,672) | 14,524,250 | 99.7 | |||||||||||||||||
SHORT-TERM INVESTMENTS: 0.7% | |||||||||||||||||||
Mutual Funds: 0.7% | |||||||||||||||||||
95,000 | BlackRock Liquidity Funds, TempFund, Institutional Class (Cost $95,000) | 95,000 | 0.7 | ||||||||||||||||
Total Short-Term Investments (Cost $95,000) | 95,000 | 0.7 | |||||||||||||||||
Total Investments in Securities (Cost $12,445,672) | $ | 14,619,250 | 100.4 | ||||||||||||||||
Liabilities in Excess of Other Assets | (52,131 | ) | (0.4 | ) | |||||||||||||||
Net Assets | $ | 14,567,119 | 100.0 |
@ | Non-income producing security |
ADR | American Depositary Receipt |
Cost for federal income tax purposes is $12,464,912. |
Net unrealized appreciation consists of: | ||||||
Gross Unrealized Appreciation | $ | 2,349,123 | ||||
Gross Unrealized Depreciation | (194,785 | ) | ||||
Net Unrealized Appreciation | $ | 2,154,338 |
Sector Diversification | Percentage of Net Assets | |||||
---|---|---|---|---|---|---|
Financials | 26.1 | % | ||||
Health Care | 10.8 | |||||
Industrials | 10.2 | |||||
Consumer Staples | 9.8 | |||||
Energy | 9.7 | |||||
Consumer Discretionary | 8.3 | |||||
Materials | 7.3 | |||||
Information Technology | 6.9 | |||||
Telecommunication Services | 5.7 | |||||
Utilities | 4.9 | |||||
Short-Term Investments | 0.7 | |||||
Liabilities in Excess of Other Assets | (0.4 | ) | ||||
Net Assets | 100.0 | % |
AS OF APRIL 30, 2013 (UNAUDITED) (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 April 30, 2013 | |||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Asset Table | ||||||||||||||||||
Investments, at fair value | ||||||||||||||||||
Common Stock | ||||||||||||||||||
Australia | $ | — | $ | 214,708 | $ | — | $ | 214,708 | ||||||||||
Belgium | — | 200,715 | — | 200,715 | ||||||||||||||
Canada | 49,275 | — | — | 49,275 | ||||||||||||||
Denmark | — | 197,738 | — | 197,738 | ||||||||||||||
Finland | — | 120,967 | — | 120,967 | ||||||||||||||
France | — | 1,858,149 | — | 1,858,149 | ||||||||||||||
Germany | — | 1,017,125 | — | 1,017,125 | ||||||||||||||
Hong Kong | — | 631,872 | — | 631,872 | ||||||||||||||
Italy | — | 631,917 | — | 631,917 | ||||||||||||||
Japan | — | 3,089,335 | — | 3,089,335 | ||||||||||||||
Luxembourg | 53,707 | — | — | 53,707 | ||||||||||||||
Netherlands | — | 1,247,300 | — | 1,247,300 | ||||||||||||||
New Zealand | — | 162,290 | — | 162,290 | ||||||||||||||
Norway | — | 307,383 | — | 307,383 | ||||||||||||||
Singapore | — | 175,687 | — | 175,687 | ||||||||||||||
Spain | — | 432,486 | — | 432,486 | ||||||||||||||
Sweden | — | 274,773 | — | 274,773 | ||||||||||||||
Switzerland | — | 1,308,289 | — | 1,308,289 | ||||||||||||||
United Kingdom | 139,520 | 2,048,718 | — | 2,188,238 | ||||||||||||||
United States | 362,296 | — | — | 362,296 | ||||||||||||||
Total Common Stock | 604,798 | 13,919,452 | — | 14,524,250 | ||||||||||||||
Short-Term Investments | 95,000 | — | — | 95,000 | ||||||||||||||
Total Investments, at fair value | $ | 699,798 | $ | 13,919,452 | $ | — | $ | 14,619,250 |
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 APRIL 30, 2013 (UNAUDITED)
Shares | | | | Value | | Percentage of Net Assets | |||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
COMMON STOCK: 99.5% | |||||||||||||||||||
Australia: 1.5% | |||||||||||||||||||
65,256 | Australia & New Zealand Banking Group Ltd. | $ | 2,156,527 | 1.5 | |||||||||||||||
Belgium: 1.4% | |||||||||||||||||||
51,154 | KBC Groep NV | 2,002,216 | 1.4 | ||||||||||||||||
Canada: 0.4% | |||||||||||||||||||
25,900 | Other Securities | 510,489 | 0.4 | ||||||||||||||||
China: 0.0% | |||||||||||||||||||
12,100,000 | Other Securities | 70,609 | 0.0 | ||||||||||||||||
Denmark: 1.3% | |||||||||||||||||||
101,018 | @ | Danske Bank A/S | 1,912,960 | 1.3 | |||||||||||||||
Finland: 0.8% | |||||||||||||||||||
65,285 | Other Securities | 1,213,484 | 0.8 | ||||||||||||||||
France: 12.8% | |||||||||||||||||||
112,244 | AXA S.A. | 2,101,952 | 1.4 | ||||||||||||||||
62,675 | Carrefour S.A. | 1,861,393 | 1.3 | ||||||||||||||||
8,326 | PPR | 1,833,976 | 1.2 | ||||||||||||||||
21,150 | Renault S.A. | 1,459,664 | 1.0 | ||||||||||||||||
26,841 | Sanofi | 2,901,932 | 2.0 | ||||||||||||||||
46,651 | @ | Societe Generale | 1,694,691 | 1.2 | |||||||||||||||
100,964 | Suez Environnement S.A. | 1,448,954 | 1.0 | ||||||||||||||||
73,760 | Other Securities | 5,350,660 | 3.7 | ||||||||||||||||
18,653,222 | 12.8 | ||||||||||||||||||
Germany: 6.9% | |||||||||||||||||||
21,675 | Bayer AG | 2,266,046 | 1.5 | ||||||||||||||||
95,963 | Deutsche Post AG | 2,281,132 | 1.6 | ||||||||||||||||
28,975 | Siemens AG | 3,027,512 | 2.1 | ||||||||||||||||
27,392 | Other Securities | 2,550,167 | 1.7 | ||||||||||||||||
10,124,857 | 6.9 | ||||||||||||||||||
Hong Kong: 4.4% | |||||||||||||||||||
159,000 | Power Assets Holdings Ltd. | 1,554,832 | 1.1 | ||||||||||||||||
231,000 | Wharf Holdings Ltd. | 2,063,315 | 1.4 | ||||||||||||||||
913,800 | Other Securities | 2,747,963 | 1.9 | ||||||||||||||||
6,366,110 | 4.4 | ||||||||||||||||||
Italy: 4.4% | |||||||||||||||||||
89,351 | ENI S.p.A. | 2,132,488 | 1.5 | ||||||||||||||||
138,838 | Fiat Industrial SpA | 1,567,800 | 1.1 | ||||||||||||||||
1,945,761 | Other Securities | 2,677,487 | 1.8 | ||||||||||||||||
6,377,775 | 4.4 | ||||||||||||||||||
Japan: 21.3% | |||||||||||||||||||
153,000 | Ajinomoto Co., Inc. | 2,099,835 | 1.4 | ||||||||||||||||
20,000 | East Japan Railway Co. | 1,688,335 | 1.2 | ||||||||||||||||
318,000 | Hitachi Ltd. | 2,032,289 | 1.4 | ||||||||||||||||
73,600 | Hoya Corp. | 1,474,675 | 1.0 | ||||||||||||||||
46,800 | Japan Tobacco, Inc. | 1,769,098 | 1.2 | ||||||||||||||||
55,900 | Komatsu Ltd. | 1,531,547 | 1.0 | ||||||||||||||||
65,800 | Mitsubishi Corp. | 1,184,549 | 0.8 | ||||||||||||||||
61,000 | Mitsubishi Estate Co., Ltd. | 1,986,839 | 1.4 | ||||||||||||||||
72,700 | Omron Corp. | 2,296,585 | 1.6 | ||||||||||||||||
COMMON STOCK: (continued) | |||||||||||||||||||
Japan: (continued) | |||||||||||||||||||
69,200 | Sumitomo Mitsui Financial Group, Inc. | $ | 3,270,901 | 2.2 | |||||||||||||||
76,700 | Tokio Marine Holdings, Inc. | 2,437,502 | 1.7 | ||||||||||||||||
34,200 | Tokyo Electron Ltd. | 1,750,499 | 1.2 | ||||||||||||||||
34,500 | Toyota Motor Corp. | 2,002,306 | 1.4 | ||||||||||||||||
351,300 | Other Securities | 5,604,257 | 3.8 | ||||||||||||||||
31,129,217 | 21.3 | ||||||||||||||||||
Luxembourg: 0.4% | |||||||||||||||||||
46,600 | Other Securities | 582,034 | 0.4 | ||||||||||||||||
Netherlands: 8.5% | |||||||||||||||||||
271,269 | Aegon NV | 1,812,009 | 1.2 | ||||||||||||||||
21,520 | Koninklijke DSM NV | 1,387,087 | 1.0 | ||||||||||||||||
72,793 | Koninklijke Philips Electronics NV | 2,014,769 | 1.4 | ||||||||||||||||
131,288 | Royal Dutch Shell PLC — Class A | 4,469,736 | 3.1 | ||||||||||||||||
108,848 | Other Securities | 2,697,856 | 1.8 | ||||||||||||||||
12,381,457 | 8.5 | ||||||||||||||||||
New Zealand: 1.1% | |||||||||||||||||||
697,488 | Telecom Corp. of New Zealand Ltd. | 1,557,495 | 1.1 | ||||||||||||||||
Norway: 2.1% | |||||||||||||||||||
92,748 | @ | DnB NOR ASA | 1,518,796 | 1.1 | |||||||||||||||
61,251 | Statoil ASA | 1,499,509 | 1.0 | ||||||||||||||||
3,018,305 | 2.1 | ||||||||||||||||||
Singapore: 1.2% | |||||||||||||||||||
568,000 | Singapore Telecommunications Ltd. | 1,814,365 | 1.2 | ||||||||||||||||
Spain: 2.9% | |||||||||||||||||||
176,565 | Banco Bilbao Vizcaya Argentaria S.A. | 1,718,784 | 1.2 | ||||||||||||||||
74,180 | Gas Natural SDG S.A. | 1,553,304 | 1.0 | ||||||||||||||||
1,292,079 | Other Securities | 1,006,011 | 0.7 | ||||||||||||||||
4,278,099 | 2.9 | ||||||||||||||||||
Sweden: 1.9% | |||||||||||||||||||
129,257 | Telefonaktiebolaget LM Ericsson | 1,607,488 | 1.1 | ||||||||||||||||
94,798 | Other Securities | 1,140,707 | 0.8 | ||||||||||||||||
2,748,195 | 1.9 | ||||||||||||||||||
Switzerland: 8.9% | |||||||||||||||||||
64,423 | Credit Suisse Group | 1,789,091 | 1.2 | ||||||||||||||||
40,479 | Nestle S.A. | 2,886,659 | 2.0 | ||||||||||||||||
52,300 | Novartis AG | 3,871,643 | 2.6 | ||||||||||||||||
17,969 | Roche Holding AG — Genusschein | 4,498,370 | 3.1 | ||||||||||||||||
13,045,763 | 8.9 | ||||||||||||||||||
United Kingdom: 14.8% | |||||||||||||||||||
620,240 | Barclays PLC | 2,767,808 | 1.9 | ||||||||||||||||
83,847 | BHP Billiton PLC | 2,358,850 | 1.6 | ||||||||||||||||
77,025 | GlaxoSmithKline PLC | 1,987,360 | 1.4 |
AS OF APRIL 30, 2013 (UNAUDITED) (CONTINUED)
Shares | | | | Value | | Percentage of Net Assets | |||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
COMMON STOCK: (continued) | |||||||||||||||||||
United Kingdom: (continued) | |||||||||||||||||||
170,038 | HSBC Holdings PLC | $ | 1,862,254 | 1.3 | |||||||||||||||
38,474 | Rio Tinto PLC | 1,766,729 | 1.2 | ||||||||||||||||
356,141 | Tesco PLC | 2,025,725 | 1.4 | ||||||||||||||||
1,203,282 | Vodafone Group PLC | 3,671,570 | 2.5 | ||||||||||||||||
87,667 | WPP PLC | 1,449,340 | 1.0 | ||||||||||||||||
212,538 | Other Securities | 3,727,974 | 2.5 | ||||||||||||||||
21,617,610 | 14.8 | ||||||||||||||||||
United States: 2.5% | |||||||||||||||||||
38,300 | Coca-Cola Enterprises, Inc. | 1,402,929 | 1.0 | ||||||||||||||||
62,600 | Other Securities | 2,183,987 | 1.5 | ||||||||||||||||
3,586,916 | 2.5 | ||||||||||||||||||
Total Common Stock (Cost $128,451,316) | 145,147,705 | 99.5 |
Principal Amount† | | | | Value | | Percentage of Net Assets | |||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
SHORT-TERM INVESTMENTS: 0.9% | |||||||||||||||||||
Securities Lending Collateralcc(1): 0.4% | |||||||||||||||||||
588,266 | Citigroup, Inc., Repurchase Agreement dated 04/30/13, 0.14%, due 05/01/13 (Repurchase Amount $588,268, collateralized by various U.S. Government Securities, 0.125%–6.000%, Market Value plus accrued interest $600,031, due 07/31/13–11/15/42) (Cost $588,266) | 588,266 | 0.4 |
Shares | | | | Value | | Percentage of Net Assets | ||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Mutual Funds: 0.5% | ||||||||||||||||||
798,000 | BlackRock Liquidity Funds, TempFund, Institutional Class (Cost $798,000) | 798,000 | 0.5 | |||||||||||||||
Total Short-Term Investments (Cost $1,386,266) | 1,386,266 | 0.9 | ||||||||||||||||
Total Investments in Securities (Cost $129,837,582) | $ | 146,533,971 | 100.4 | |||||||||||||||
Liabilities in Excess of Other Assets | (532,320 | ) | (0.4 | ) | ||||||||||||||
Net Assets | $ | 146,001,651 | 100.0 |
† | Unless otherwise indicated, principal amount is shown in USD. |
@ | Non-income producing security |
cc | Securities purchased with cash collateral for securities loaned. |
(1) | Collateral received from brokers for securities lending was invested into these short-term investments. |
Cost for federal income tax purposes is $129,855,881. |
Net unrealized appreciation consists of: | ||||||
Gross Unrealized Appreciation | $ | 19,837,480 | ||||
Gross Unrealized Depreciation | (3,159,390 | ) | ||||
Net Unrealized Appreciation | $ | 16,678,090 |
Sector Diversification | Percentage of Net Assets | |||||
---|---|---|---|---|---|---|
Financials | 26.2 | % | ||||
Health Care | 10.6 | |||||
Industrials | 10.1 | |||||
Consumer Staples | 9.9 | |||||
Energy | 9.6 | |||||
Consumer Discretionary | 8.0 | |||||
Materials | 7.6 | |||||
Information Technology | 7.0 | |||||
Telecommunication Services | 5.7 | |||||
Utilities | 4.8 | |||||
Short-Term Investments | 0.9 | |||||
Liabilities in Excess of Other Assets | (0.4 | ) | ||||
Net Assets | 100.0 | % |
AS OF APRIL 30, 2013 (UNAUDITED) (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 April 30, 2013 | |||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Asset Table | ||||||||||||||||||
Investments, at fair value | ||||||||||||||||||
Common Stock | ||||||||||||||||||
Australia | $ | — | $ | 2,156,527 | $ | — | $ | 2,156,527 | ||||||||||
Belgium | — | 2,002,216 | — | 2,002,216 | ||||||||||||||
Canada | 510,489 | — | — | 510,489 | ||||||||||||||
China | — | — | 70,609 | 70,609 | ||||||||||||||
Denmark | — | 1,912,960 | — | 1,912,960 | ||||||||||||||
Finland | — | 1,213,484 | — | 1,213,484 | ||||||||||||||
France | — | 18,653,222 | — | 18,653,222 | ||||||||||||||
Germany | — | 10,124,857 | — | 10,124,857 | ||||||||||||||
Hong Kong | — | 6,366,110 | — | 6,366,110 | ||||||||||||||
Italy | — | 6,377,775 | — | 6,377,775 | ||||||||||||||
Japan | — | 31,129,217 | — | 31,129,217 | ||||||||||||||
Luxembourg | 582,034 | — | — | 582,034 | ||||||||||||||
Netherlands | — | 12,381,457 | — | 12,381,457 | ||||||||||||||
New Zealand | — | 1,557,495 | — | 1,557,495 | ||||||||||||||
Norway | — | 3,018,305 | — | 3,018,305 | ||||||||||||||
Singapore | — | 1,814,365 | — | 1,814,365 | ||||||||||||||
Spain | — | 4,278,099 | — | 4,278,099 | ||||||||||||||
Sweden | — | 2,748,195 | — | 2,748,195 | ||||||||||||||
Switzerland | — | 13,045,763 | — | 13,045,763 | ||||||||||||||
United Kingdom | 1,355,960 | 20,261,650 | — | 21,617,610 | ||||||||||||||
United States | 3,586,916 | — | — | 3,586,916 | ||||||||||||||
Total Common Stock | 6,035,399 | 139,041,697 | 70,609 | 145,147,705 | ||||||||||||||
Short-Term Investments | 798,000 | 588,266 | — | 1,386,266 | ||||||||||||||
Total Investments, at fair value | $ | 6,833,399 | $ | 139,629,963 | $ | 70,609 | $ | 146,533,971 |
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 APRIL 30, 2013 (UNAUDITED)
Shares | | | | Value | | Percentage of Net Assets | |||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
COMMON STOCK: 97.6% | |||||||||||||||||||
Australia: 1.4% | |||||||||||||||||||
144,768 | Australia & New Zealand Banking Group Ltd. | $ | 4,784,176 | 1.4 | |||||||||||||||
Belgium: 1.4% | |||||||||||||||||||
117,589 | KBC Groep NV | 4,602,546 | 1.4 | ||||||||||||||||
Canada: 0.3% | |||||||||||||||||||
58,900 | Other Securities | 1,160,919 | 0.3 | ||||||||||||||||
Denmark: 1.3% | |||||||||||||||||||
232,320 | @ | Danske Bank A/S | 4,399,403 | 1.3 | |||||||||||||||
Finland: 0.8% | |||||||||||||||||||
152,754 | Other Securities | 2,839,313 | 0.8 | ||||||||||||||||
France: 12.0% | |||||||||||||||||||
249,803 | AXA S.A. | 4,677,968 | 1.4 | ||||||||||||||||
145,699 | Carrefour S.A. | 4,327,135 | 1.3 | ||||||||||||||||
19,422 | PPR | 4,278,102 | 1.2 | ||||||||||||||||
48,993 | Renault S.A. | 3,381,245 | 1.0 | ||||||||||||||||
61,212 | Sanofi | 6,617,974 | 1.9 | ||||||||||||||||
108,758 | @ | Societe Generale | 3,950,852 | 1.1 | |||||||||||||||
231,830 | Suez Environnement S.A. | 3,327,037 | 1.0 | ||||||||||||||||
149,987 | Other Securities | 10,480,903 | 3.1 | ||||||||||||||||
41,041,216 | 12.0 | ||||||||||||||||||
Germany: 6.9% | |||||||||||||||||||
50,948 | Bayer AG | 5,326,436 | 1.5 | ||||||||||||||||
226,263 | Deutsche Post AG | 5,378,487 | 1.6 | ||||||||||||||||
68,075 | Siemens AG | 7,112,955 | 2.1 | ||||||||||||||||
63,027 | Other Securities | 5,867,453 | 1.7 | ||||||||||||||||
23,685,331 | 6.9 | ||||||||||||||||||
Hong Kong: 4.1% | |||||||||||||||||||
530,000 | Wharf Holdings Ltd. | 4,734,014 | 1.4 | ||||||||||||||||
8,852,400 | Other Securities | 9,125,095 | 2.7 | ||||||||||||||||
13,859,109 | 4.1 | ||||||||||||||||||
Italy: 4.3% | |||||||||||||||||||
200,077 | ENI S.p.A. | 4,775,120 | 1.4 | ||||||||||||||||
326,759 | Fiat Industrial SpA | 3,689,860 | 1.1 | ||||||||||||||||
4,455,266 | Other Securities | 6,137,631 | 1.8 | ||||||||||||||||
14,602,611 | 4.3 | ||||||||||||||||||
Japan: 21.3% | |||||||||||||||||||
351,000 | Ajinomoto Co., Inc. | 4,817,268 | 1.4 | ||||||||||||||||
45,800 | East Japan Railway Co. | 3,866,288 | 1.1 | ||||||||||||||||
749,888 | Hitachi Ltd. | 4,792,418 | 1.4 | ||||||||||||||||
170,700 | Hoya Corp. | 3,420,205 | 1.0 | ||||||||||||||||
107,000 | Japan Tobacco, Inc. | 4,044,733 | 1.2 | ||||||||||||||||
130,900 | Komatsu Ltd. | 3,586,394 | 1.0 | ||||||||||||||||
151,100 | Mitsubishi Corp. | 2,720,142 | 0.8 | ||||||||||||||||
140,000 | Mitsubishi Estate Co., Ltd. | 4,559,958 | 1.3 | ||||||||||||||||
168,500 | Omron Corp. | 5,322,896 | 1.6 | ||||||||||||||||
165,400 | Sumitomo Mitsui Financial Group, Inc. | 7,818,021 | 2.3 | ||||||||||||||||
177,900 | Tokio Marine Holdings, Inc. | 5,653,605 | 1.7 | ||||||||||||||||
COMMON STOCK: (continued) | |||||||||||||||||||
Japan: (continued) | |||||||||||||||||||
79,900 | Tokyo Electron Ltd. | $ | 4,089,617 | 1.2 | |||||||||||||||
77,800 | Toyota Motor Corp. | 4,515,345 | 1.3 | ||||||||||||||||
1,167,948 | Other Securities | 13,497,923 | 4.0 | ||||||||||||||||
72,704,813 | 21.3 | ||||||||||||||||||
Luxembourg: 0.3% | |||||||||||||||||||
94,000 | Other Securities | 1,174,060 | 0.3 | ||||||||||||||||
Netherlands: 8.4% | |||||||||||||||||||
639,109 | Aegon NV | 4,269,088 | 1.3 | ||||||||||||||||
49,727 | Koninklijke DSM NV | 3,205,190 | 0.9 | ||||||||||||||||
167,822 | Koninklijke Philips Electronics NV | 4,644,987 | 1.4 | ||||||||||||||||
303,835 | Royal Dutch Shell PLC — Class A | 10,344,146 | 3.0 | ||||||||||||||||
252,346 | Other Securities | 6,182,875 | 1.8 | ||||||||||||||||
28,646,286 | 8.4 | ||||||||||||||||||
New Zealand: 1.1% | |||||||||||||||||||
1,623,436 | Telecom Corp. of New Zealand Ltd. | 3,625,143 | 1.1 | ||||||||||||||||
Norway: 2.1% | |||||||||||||||||||
221,917 | @ | DnB NOR ASA | 3,634,006 | 1.1 | |||||||||||||||
138,880 | Statoil ASA | 3,399,973 | 1.0 | ||||||||||||||||
7,033,979 | 2.1 | ||||||||||||||||||
Singapore: 1.2% | |||||||||||||||||||
1,278,100 | Singapore Telecommunications Ltd. | 4,082,640 | 1.2 | ||||||||||||||||
Spain: 2.9% | |||||||||||||||||||
411,477 | Banco Bilbao Vizcaya Argentaria S.A. | 4,005,551 | 1.2 | ||||||||||||||||
169,228 | Gas Natural SDG S.A. | 3,543,578 | 1.0 | ||||||||||||||||
2,894,975 | Other Securities | 2,254,022 | 0.7 | ||||||||||||||||
9,803,151 | 2.9 | ||||||||||||||||||
Sweden: 1.8% | |||||||||||||||||||
295,500 | Telefonaktiebolaget LM Ericsson | 3,674,948 | 1.1 | ||||||||||||||||
217,174 | Other Securities | 2,613,261 | 0.7 | ||||||||||||||||
6,288,209 | 1.8 | ||||||||||||||||||
Switzerland: 8.9% | |||||||||||||||||||
147,982 | Credit Suisse Group | 4,109,622 | 1.2 | ||||||||||||||||
93,663 | Nestle S.A. | 6,679,343 | 1.9 | ||||||||||||||||
122,691 | Novartis AG | 9,082,518 | 2.7 | ||||||||||||||||
42,287 | Roche Holding AG — Genusschein | 10,586,154 | 3.1 | ||||||||||||||||
30,457,637 | 8.9 | ||||||||||||||||||
United Kingdom: 14.7% | |||||||||||||||||||
1,436,444 | Barclays PLC | 6,410,101 | 1.9 | ||||||||||||||||
192,885 | BHP Billiton PLC | 5,426,393 | 1.6 | ||||||||||||||||
179,421 | GlaxoSmithKline PLC | 4,629,329 | 1.4 | ||||||||||||||||
387,745 | HSBC Holdings PLC | 4,246,579 | 1.2 | ||||||||||||||||
88,506 | Rio Tinto PLC | 4,064,203 | 1.2 | ||||||||||||||||
837,889 | Tesco PLC | 4,765,900 | 1.4 |
AS OF APRIL 30, 2013 (UNAUDITED) (CONTINUED)
Shares | | | | Value | | Percentage of Net Assets | |||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
COMMON STOCK: (continued) | |||||||||||||||||||
United Kingdom: (continued) | |||||||||||||||||||
2,766,511 | Vodafone Group PLC | $ | 8,441,445 | 2.5 | |||||||||||||||
212,477 | WPP PLC | 3,512,740 | 1.0 | ||||||||||||||||
496,191 | Other Securities | 8,647,796 | 2.5 | ||||||||||||||||
50,144,486 | 14.7 | ||||||||||||||||||
United States: 2.4% | |||||||||||||||||||
233,200 | Other Securities | 8,296,038 | 2.4 | ||||||||||||||||
Total Common Stock (Cost $286,666,054) | 333,231,066 | 97.6 | |||||||||||||||||
SHORT-TERM INVESTMENTS: 0.4% | |||||||||||||||||||
Mutual Funds: 0.4% | |||||||||||||||||||
1,498,000 | BlackRock Liquidity Funds, TempFund, Institutional Class (Cost $1,498,000) | 1,498,000 | 0.4 | ||||||||||||||||
Total Short-Term Investments (Cost $1,498,000) | 1,498,000 | 0.4 | |||||||||||||||||
Total Investments in Securities (Cost $288,164,054) | $ | 334,729,066 | 98.0 | ||||||||||||||||
Assets in Excess of Other Liabilities | 6,660,586 | 2.0 | |||||||||||||||||
Net Assets | $ | 341,389,652 | 100.0 |
@ | Non-income producing security |
Net unrealized appreciation consists of: | ||||||
Gross Unrealized Appreciation | $ | 52,622,864 | ||||
Gross Unrealized Depreciation | (14,189,062 | ) | ||||
Net Unrealized Appreciation | $ | 38,433,802 |
Sector Diversification | Percentage of Net Assets | |||||
---|---|---|---|---|---|---|
Financials | 26.0 | % | ||||
Health Care | 10.6 | |||||
Industrials | 10.0 | |||||
Consumer Staples | 9.8 | |||||
Energy | 9.4 | |||||
Consumer Discretionary | 8.0 | |||||
Information Technology | 6.9 | |||||
Materials | 6.7 | |||||
Telecommunication Services | 5.7 | |||||
Utilities | 4.5 | |||||
Short-Term Investments | 0.4 | |||||
Assets in Excess of Other Liabilities | 2.0 | |||||
Net Assets | 100.0 | % |
AS OF APRIL 30, 2013 (UNAUDITED) (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 April 30, 2013 | |||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Asset Table | ||||||||||||||||||
Investments, at fair value | ||||||||||||||||||
Common Stock | ||||||||||||||||||
Australia | $ | — | $ | 4,784,176 | $ | — | $ | 4,784,176 | ||||||||||
Belgium | — | 4,602,546 | — | 4,602,546 | ||||||||||||||
Canada | 1,160,919 | — | — | 1,160,919 | ||||||||||||||
Denmark | — | 4,399,403 | — | 4,399,403 | ||||||||||||||
Finland | — | 2,839,313 | — | 2,839,313 | ||||||||||||||
France | — | 41,041,216 | — | 41,041,216 | ||||||||||||||
Germany | — | 23,685,331 | — | 23,685,331 | ||||||||||||||
Hong Kong | — | 13,553,046 | 306,063 | 13,859,109 | ||||||||||||||
Italy | — | 14,602,611 | — | 14,602,611 | ||||||||||||||
Japan | 601,656 | 72,103,157 | — | 72,704,813 | ||||||||||||||
Luxembourg | 1,174,060 | — | — | 1,174,060 | ||||||||||||||
Netherlands | — | 28,646,286 | — | 28,646,286 | ||||||||||||||
New Zealand | — | 3,625,143 | — | 3,625,143 | ||||||||||||||
Norway | — | 7,033,979 | — | 7,033,979 | ||||||||||||||
Singapore | — | 4,082,640 | — | 4,082,640 | ||||||||||||||
Spain | 2,254,022 | 7,549,129 | — | 9,803,151 | ||||||||||||||
Sweden | — | 6,288,209 | — | 6,288,209 | ||||||||||||||
Switzerland | — | 30,457,637 | — | 30,457,637 | ||||||||||||||
United Kingdom | 3,121,760 | 47,022,726 | — | 50,144,486 | ||||||||||||||
United States | 8,296,038 | — | — | 8,296,038 | ||||||||||||||
Total Common Stock | 16,608,455 | 316,316,548 | 306,063 | 333,231,066 | ||||||||||||||
Short-Term Investments | 1,498,000 | — | — | 1,498,000 | ||||||||||||||
Total Investments, at fair value | $ | 18,106,455 | $ | 316,316,548 | $ | 306,063 | $ | 334,729,066 |
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 APRIL 30, 2013 (UNAUDITED)
Shares | | | | Value | | Percentage of Net Assets | |||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
COMMON STOCK: 96.9% | |||||||||||||||||||
Consumer Discretionary: 0.5% | |||||||||||||||||||
130,840 | M Video | $ | 1,032,247 | 0.5 | |||||||||||||||
Consumer Staples: 9.2% | |||||||||||||||||||
13,230 | @ | DIXY Group OJSC | 169,750 | 0.1 | |||||||||||||||
60,860 | Magnit OAO | 13,055,064 | 6.3 | ||||||||||||||||
20,940 | Magnit OJSC | 4,491,834 | 2.2 | ||||||||||||||||
70,000 | #, @ | MHP SA GDR | 1,295,000 | 0.6 | |||||||||||||||
19,011,648 | 9.2 | ||||||||||||||||||
Energy: 39.1% | |||||||||||||||||||
40,000 | Eurasia Drilling Co. Ltd. GDR | 1,567,054 | 0.8 | ||||||||||||||||
2,363,800 | @ | Gazprom OAO | 9,444,062 | 4.5 | |||||||||||||||
369,970 | Lukoil OAO ADR | 23,456,098 | 11.3 | ||||||||||||||||
93,000 | NovaTek OAO GDR | 9,440,674 | 4.5 | ||||||||||||||||
1,056,100 | Rosneft Oil Co. GDR | 7,243,300 | 3.5 | ||||||||||||||||
497,000 | L | Surgutneftegas OJSC ADR | 4,240,206 | 2.0 | |||||||||||||||
10,698,600 | Surgutneftegas OJSC | 7,563,115 | 3.6 | ||||||||||||||||
470,000 | Tatneft | 1,581,267 | 0.8 | ||||||||||||||||
197,000 | L | Tatneft ADR | 7,474,402 | 3.6 | |||||||||||||||
4,573 | Transneft | 9,243,594 | 4.5 | ||||||||||||||||
81,253,772 | 39.1 | ||||||||||||||||||
Financials: 15.5% | |||||||||||||||||||
244,843 | @, L | Halyk Savings Bank of Kazakhstan JSC GDR | 1,790,606 | 0.9 | |||||||||||||||
815,000 | LSR Group GDR | 3,556,742 | 1.7 | ||||||||||||||||
5,451,400 | Sberbank | 17,395,524 | 8.4 | ||||||||||||||||
307,000 | Sberbank of Russia ADR | 3,948,020 | 1.9 | ||||||||||||||||
1,727,400 | @, L | VTB Bank OJSC GDR | 5,461,020 | 2.6 | |||||||||||||||
32,151,912 | 15.5 | ||||||||||||||||||
Health Care: 1.0% | |||||||||||||||||||
125,000 | @ | MD Medical Group Investments PLC GDR | 2,187,500 | 1.0 | |||||||||||||||
Information Technology: 1.3% | |||||||||||||||||||
35,294 | Mail.ru Group Ltd. GDR | 952,938 | 0.5 | ||||||||||||||||
64,500 | @ | Yandex NV | 1,660,230 | 0.8 | |||||||||||||||
2,613,168 | 1.3 | ||||||||||||||||||
Materials: 14.4% | |||||||||||||||||||
561,000 | Evraz PLC | 1,365,190 | 0.6 | ||||||||||||||||
27,700 | MMC Norilsk Nickel | 4,601,309 | 2.2 | ||||||||||||||||
310,000 | MMC Norilsk Nickel ADR | 4,785,061 | 2.3 | ||||||||||||||||
120,000 | Novolipetsk Steel GDR | 2,015,873 | 1.0 | ||||||||||||||||
1,234,030 | Novolipetsk Steel | 2,060,469 | 1.0 | ||||||||||||||||
146,400 | Phosagro OAO GDR | 2,070,096 | 1.0 | ||||||||||||||||
129,300 | Polymetal International PLC | 1,405,871 | 0.7 | ||||||||||||||||
764,806 | Polyus Gold International Ltd. | 2,417,861 | 1.2 | ||||||||||||||||
276,500 | Severstal OAO GDR | 2,367,513 | 1.1 | ||||||||||||||||
190,000 | Uralkali GDR | 6,890,375 | 3.3 | ||||||||||||||||
29,979,618 | 14.4 | ||||||||||||||||||
COMMON STOCK: (continued) | |||||||||||||||||||
Telecommunication Services: 13.2% | |||||||||||||||||||
1,301,800 | JSFC Sistema | $ | 1,110,343 | 0.5 | |||||||||||||||
128,000 | #, @ | KCell JSC GDR | 1,933,938 | 0.9 | |||||||||||||||
118,900 | Mobile Telesystems OJSC | 1,048,765 | 0.5 | ||||||||||||||||
504,200 | Mobile Telesystems OJSC | 4,447,326 | 2.2 | ||||||||||||||||
818,300 | Mobile Telesystems OJSC ADR | 16,938,810 | 8.1 | ||||||||||||||||
104,400 | Sistema JSFC GDR | 1,996,480 | 1.0 | ||||||||||||||||
27,475,662 | 13.2 | ||||||||||||||||||
Utilities: 2.7% | |||||||||||||||||||
548,600,000 | @ | Federal Grid Co. Unified Energy System JSC | 2,137,362 | 1.0 | |||||||||||||||
192,188,227 | RusHydro | 3,434,594 | 1.7 | ||||||||||||||||
5,571,956 | 2.7 | ||||||||||||||||||
Total Common Stock (Cost $151,244,954) | 201,277,483 | 96.9 | |||||||||||||||||
PREFERRED STOCK: 2.1% | |||||||||||||||||||
Financials: 2.1% | |||||||||||||||||||
1,860,000 | Sberbank of Russia | 4,328,543 | 2.1 | ||||||||||||||||
Total Preferred Stock (Cost $4,301,347) | 4,328,543 | 2.1 | |||||||||||||||||
Total Long-Term Investments (Cost $155,546,301) | 205,606,026 | 99.0 |
Principal Amount† | | | | Value | | Percentage of Net Assets | |||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
SHORT-TERM INVESTMENTS: 3.7% | |||||||||||||||||||
Securities Lending Collateralcc(1): 3.7% | |||||||||||||||||||
1,825,023 | BNP Paribas Bank, Repurchase Agreement dated 04/30/13, 0.14%, due 05/01/13 (Repurchase Amount $1,825,030, collateralized by various U.S. Government Securities, 0.250%–0.875%, Market Value plus accrued interest $1,861,523, due 05/31/14–03/31/18) | 1,825,023 | 0.8 | ||||||||||||||||
1,825,023 | Citigroup, Inc., Repurchase Agreement dated 04/30/13, 0.18%, due 05/01/13 (Repurchase Amount $1,825,032, collateralized by various U.S. Government Agency Obligations, 0.841%–6.500%, Market Value plus accrued interest $1,862,325, due 11/01/18–03/15/53) | 1,825,023 | 0.9 |
AS OF APRIL 30, 2013 (UNAUDITED) (CONTINUED)
Principal Amount† | | | | Value | | Percentage of Net Assets | |||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
SHORT-TERM INVESTMENTS: (continued) | |||||||||||||||||||
Securities Lending Collateralcc(1): (continued) | |||||||||||||||||||
1,825,023 | Deutsche Bank AG, Repurchase Agreement dated 04/30/13, 0.17%, due 05/01/13 (Repurchase Amount $1,825,032, collateralized by various U.S. Government Agency Obligations, 2.130%–7.500%, Market Value plus accrued interest $1,861,524, due 12/01/16–04/01/48) | 1,825,023 | 0.9 | ||||||||||||||||
1,825,023 | JPMorgan Chase & Co., Repurchase Agreement dated 04/30/13, 0.17%, due 05/01/13 (Repurchase Amount $1,825,032, collateralized by various U.S. Government Agency Obligations, 2.500%–6.500%, Market Value plus accrued interest $1,861,565, due 05/01/14–06/01/42) | 1,825,023 | 0.9 | ||||||||||||||||
384,196 | Merrill Lynch & Co., Inc., Repurchase Agreement dated 04/30/13, 0.14%, due 05/01/13 (Repurchase Amount $384,197, collateralized by various U.S. Government Securities, 0.250%–2.750%, Market Value plus accrued interest $391,880, due 10/15/15–08/15/42) | 384,196 | 0.2 | ||||||||||||||||
7,684,288 | 3.7 | ||||||||||||||||||
Total Short-Term Investments (Cost $7,684,288) | 7,684,288 | 3.7 | |||||||||||||||||
Total Investments in Securities (Cost $163,230,589) | $ | 213,290,314 | 102.7 | ||||||||||||||||
Liabilities in Excess of Other Assets | (5,588,285 | ) | (2.7 | ) | |||||||||||||||
Net Assets | $ | 207,702,029 | 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 April 30, 2013. |
(1) | Collateral received from brokers for securities lending was invested into these short-term investments. |
Cost for federal income tax purposes is $171,774,676. |
Net unrealized appreciation consists of: | ||||||
Gross Unrealized Appreciation | $ | 68,543,785 | ||||
Gross Unrealized Depreciation | (27,028,147 | ) | ||||
Net Unrealized Appreciation | $ | 41,515,638 |
AS OF APRIL 30, 2013 (UNAUDITED) (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 April 30, 2013 | |||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Asset Table | ||||||||||||||||||
Investments, at fair value | ||||||||||||||||||
Common Stock | ||||||||||||||||||
Consumer Discretionary | $ | — | $ | 1,032,247 | $ | — | $ | 1,032,247 | ||||||||||
Consumer Staples | 1,295,000 | 17,716,648 | — | 19,011,648 | ||||||||||||||
Energy | 23,456,098 | 57,797,674 | — | 81,253,772 | ||||||||||||||
Financials | 3,948,020 | 28,203,892 | — | 32,151,912 | ||||||||||||||
Health Care | 2,187,500 | — | — | 2,187,500 | ||||||||||||||
Information Technology | 2,613,168 | — | — | 2,613,168 | ||||||||||||||
Materials | 2,070,096 | 27,909,522 | — | 29,979,618 | ||||||||||||||
Telecommunication Services | 16,938,810 | 10,536,852 | — | 27,475,662 | ||||||||||||||
Utilities | — | 5,571,956 | — | 5,571,956 | ||||||||||||||
Total Common Stock | 52,508,692 | 148,768,791 | — | 201,277,483 | ||||||||||||||
Preferred Stock | — | 4,328,543 | — | 4,328,543 | ||||||||||||||
Short-Term Investments | — | 7,684,288 | — | 7,684,288 | ||||||||||||||
Total Investments, at fair value | $ | 52,508,692 | $ | 160,781,622 | $ | — | $ | 213,290,314 |
(1) | For the six months ended April 30, 2013, 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 period. The Fund’s policy is to recognize transfers between levels at the end of the reporting period. At April 30, 2013, securities valued at $2,782,293 and $1,888,010 were transferred from Level 1 to Level 2 and Level 2 to 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. |
1 | To approve a new sub-advisory agreement between ING Investments, LLC, the investment adviser to International Value Equity Funds, and ING Investment Management Co. LLC, International Value Equity Fund’s current interim sub-adviser and proposed sub-adviser. |
Proposal | Shares voted for | Shares voted against or withheld | Shares abstained | Broker non-vote | Total Shares Voted | |||||||||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
ING International Value Equity Fund | 1* | 2,028,546.559 | 77,950.808 | 118,616.569 | 2,225,113.936 |
* | Proposal did not pass; Adjourned to April 11, 2013 |
1 | To approve an agreement and Plan of Reorganization by and between International Value Choice Fund and ING International Value Equity Fund (formerly, ING Global Value Choice Fund) (“International Value Equity Fund”), providing for the reorganization of International Value Choice Fund with and into International Value Equity Fund (the “Reorganization”). |
2 | To approve a new sub-advisory agreement between ING Investments, LLC (“ING Investments” or “Adviser”), the investment adviser to International Value Choice Fund, and ING Investment Management Co. LLC (“ING IM” or “Sub-Adviser”), International Value Choice Fund’s current interim sub-adviser and proposed sub-adviser (together with the Reorganization, the “Proposals”). |
Proposal | Shares voted for | Shares voted against or withheld | Shares abstained | Broker non-vote | Total Shares Voted | |||||||||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
ING International Value Choice Fund | 1* | 1,137,869.280 | 14,041.679 | 32,886.040 | 1,184,796.999 | |||||||||||||||||||||
2* | 1,123,909.345 | 27,748.613 | 33,139.041 | 1,184,796.999 |
* | Proposals passed |
1 | To approve a new sub-advisory agreement between ING Investments, LLC, the investment adviser to International Value Equity Funds, and ING Investment Management Co. LLC, International Value Equity Fund’s current interim sub-adviser and proposed sub-adviser. |
Proposal | Shares voted for | Shares voted against or withheld | Shares abstained | Broker non-vote | Total Shares Voted | |||||||||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
ING International Value Equity Fund | 1* | 2,928,882.433 | 91,344.280 | 205,218.743 | 3,225,445.456 |
* | Proposal passed |
as well as preparing written materials and reports to the committees and the Board as part of the process of approving any new sub-adviser for such Fund.
Funds’ operations, the competitive landscape of the investment company business, and investor needs, and that the nature, extent and quality of the overall services provided by the Adviser and each Sub-Adviser were appropriate.
Management in accordance with the allocation methodology (including related assumptions) specified in the 15(c) Methodology Guide. In analyzing the profitability of the Adviser in connection with its services to each Fund, the Board took into account the sub-advisory fee rate payable by the Adviser to the Sub-Adviser. In addition, the Board considered information that it requested and was provided by Management with respect to the profitability of service providers affiliated with the Adviser. The Board did not request profitability data from the Sub-Advisers that were not affiliated with the Adviser because the Board did not view this data as imperative to its deliberations, given the arm’s-length nature of the relationship between the Adviser and these non-ING-affiliated Sub-Advisers with respect to the negotiation of sub-advisory fee rates. In this regard, the Board also noted that the Adviser (and not a Fund) pays the sub-advisory fees earned by a non-ING-affiliated Sub-Adviser. In addition, the Board noted that certain of the Funds’ Sub-Advisers traditionally have not accounted for their profits on an account-by-account basis and those that do likely employ different methodologies in connection with these calculations.
expense ratio to be borne by shareholders) of the Fund, as compared to its Selected Peer Group, including that: (a) the management fee rate (inclusive of a 0.10% administration fee) for the Fund is below the median and the average management fee rates of the funds in its Selected Peer Group; and (b) the expense ratio for the Fund is above the median and the average expense ratios of the funds in its Selected Peer Group.
Selected Peer Group, including that: (a) the management fee rate (inclusive of a 0.10% administration fee) for the Fund is above the median and the average management fee rates of the funds in its Selected Peer Group; and (b) the expense ratio for the Fund is above the median and the average expense ratios of the funds in its Selected Peer Group.
(formerly ING Global Value Choice Fund)
(lowest) quintile for the most recent calendar quarter, year-to-date, one-year, and three-year periods.
Sub-Adviser is reasonable in the context of all factors considered by the Board. Based on these conclusions and other factors, the Board voted to renew the Advisory and Sub-Advisory Contracts for the Fund for the year ending November 30, 2013. During this renewal process, different Board members may have given different weight to different individual factors and related conclusions.
information relevant to the Board’s evaluation. In addition, the Board considered the information provided periodically throughout the year in presentations to the Board by the Adviser in the context of the Adviser’s oversight of other sub-advisers managing ING Funds, and by ING IM at the September 5, 2012 International/Balanced/Fixed Income Funds Investment Review Committee (“I/B/F IRC”) meeting regarding Diversified Emerging Markets Debt Fund.
Emerging Markets Debt Fund. During the Board’s deliberations, different Board members may have given different weight to different individual factors and related conclusions.
in the industry; (3) the information that had been provided by ING IM in advance of the March 6, 2013 Joint IRC meeting at which ING IM presented with respect to ING IM’s sub-advisory services; (4) the nature, extent and quality of the services to be provided by ING IM under the proposed GP Sub-Advisory Contract; (5) the personnel, operations, financial condition, and investment management capabilities, methodologies and resources of ING IM; (6) the fairness of the compensation under the GP Sub-Advisory Contract in light of the services to be provided by ING IM as Global Perspectives Fund’s Sub-Adviser; (7) ING IM’s operations and compliance program, including its policies and procedures intended to assure compliance with Federal securities laws, which had been reviewed and evaluated by the Trust’s Chief Compliance Officer; (8) ING IM’s financial condition; (9) the appropriateness of the selection of ING IM in light of Global Perspectives Fund’s investment objectives and prospective investor base; and (10) ING IM’s Code of Ethics, which was previously approved by the Board.
impact of implementing the Separation Plan on the operations, personnel, organizational structure, capitalization, and financial and other resources of the Adviser and its affiliates that render investment sub-advisory, administrative, distribution, compliance and other services to the Funds. When making its decisions on January 10, 2013, and on March 7, 2013, the Board took into account that, commencing in early 2011, it had posed ongoing inquiries to, and received regular updates from, management relating to the Separation Plan.
1. | The Independent Trustees solicited and received ongoing advice regarding the Board’s legal duties from K&L Gates, legal counsel for such Board members, which law firm has extensive experience regarding such matters. |
2. | The Independent Trustees established an Ad Hoc IPO Transaction Committee (the “IPO Committee”), consisting exclusively of Independent Trustees, to help oversee, coordinate, and perform portions of the Board’s due diligence activities. In this connection, the IPO Committee considered, among other matters, relevant legal guidance and the processes followed by certain other investment company boards of directors or trustees when they approved contracts in connection with Change of Control events. |
3. | The Independent Trustees, with assistance from K&L Gates, prepared written inquiries to the Adviser and its affiliates regarding the IPO, including details regarding ING U.S.’s anticipated business plan for continuing operations after the IPO and potential Change of Control Events. |
4. | The Board received and evaluated written responses from the Adviser and its affiliates pursuant to inquiries made on the Board’s behalf. These evaluations were conducted through a series of separate meetings by the Board’s Audit Committee, Compliance Committee, Contracts Committee, Domestic Equity Funds Investment Review Committee, International/Balanced/Fixed Income Funds Investment Review Committee, Nominating and Governance Committee, and IPO Committee (collectively, the “Committees”), and by the Independent Trustees (which, at times, included one or both Board members who are not Independent Trustees). With respect to services to be rendered to the Funds by ING U.S. during implementation of the Separation Plan, each Committee evaluated matters relating to those services typically overseen by such Committee (and, in the case of the IPO Committee, relevant matters not otherwise assigned to a standing Committee). Future references herein to actions taken by the Board or the Independent Trustees may include, in some instances, actions taken by one or more of the Committees. |
5. | The Board requested and participated in a series of in-person and/or telephonic meetings involving presentations from senior management personnel at ING U.S. (including its Chief Executive Officer, Chief Operating Officer, Chief Risk Officer, Head of Corporate Development, Head of Proprietary Investments, and the heads of each proposed primary operating unit of ING U.S.), as well as from senior management of the Adviser and its affiliates, including senior human resources personnel, senior investment personnel, and senior compliance personnel at the Sub-Adviser. The Board also requested and had such meetings with the Funds’ Chief Compliance Officer and Chief Investment Risk Officer who, as a matter of course, report directly to the Board or its Committees. |
6. | The Board received and reviewed the preliminary Form S-1 that contained extensive information relating to, among other matters, ING U.S.’s anticipated business plans and financial structure. In this connection, the Board considered, among other matters: the anticipated arrangements between ING Groep and ING U.S. over the course of the Separation Plan; the anticipated use of potential proceeds of the capital that would be raised through the Form S-1 offering (including that portion of potential proceeds that may be retained by ING Groep and that portion that may be dedicated to the capitalization and operations of ING U.S., including its asset management operations); the potential short-term and long-term financial consequences to ING U.S. of the closed book of variable annuity business that would be maintained by ING U.S.-affiliated insurance companies; and other information provided by the Adviser and its affiliates. |
7. | K&L Gates retained Grail Partners LLC (“Grail”), an independent investment banking firm with extensive experience relating to business operations such as those to be conducted by ING U.S., in order to help K&L Gates evaluate and advise the Board with respect to, among other matters, details of ING U.S.’s anticipated business plan and financial capitalization as set forth in its Form S-1 and related information provided by the Adviser and its affiliates, including the potential implications to the Adviser and its non-insurance affiliates of insurance regulations and related capitalization matters. The Independent Trustees or IPO Committee members attended certain in-person and telephone conference call meetings at which Grail rendered advice to K&L Gates regarding these matters and responded to questions. |
8. | The Independent Trustees, the Board, and many of its Committees held in-person meetings on November 27, 28, and 29, 2012 during which, among other actions, they evaluated the responsive due diligence information provided to date by the Adviser and its affiliates, and considered input from K&L Gates, Grail, and others regarding the Form S-1. At the conclusion of these meetings, the Independent Trustees and the Committees posed to the Adviser and its affiliates a series of follow-up information requests. |
9. | Among the follow-up actions arising from the November 27, 28, and 29 meetings, the Independent Trustees requested and received written assurances that the Adviser and its affiliates: are committed to maintaining appropriate levels of overall staffing, ongoing resources and service quality; and throughout the time period during which the Separation Plan is implemented, will notify and consult with the Board in advance if management proposes to take certain actions with respect to these matters. The Board considered that such services include, but are not limited to, portfolio management services, administrative services, and regulatory compliance services. In this regard, the Board considered representations by the Adviser and its affiliates that their separation from ING Groep as contemplated by the Separation Plan will not lead to a reduction in the quality or scope of these and other services provided by those firms to the Funds. The Board also considered that the importance of the asset management operations to the overall success of ING U.S., as described by the Form S-1 and during presentations by senior ING U.S. management personnel, could provide a strong incentive to ING U.S. to provide appropriate resource allocations to support those asset management operations. |
10. | The Board considered representations by the Adviser and its affiliates that approval of the Proposed Agreements would be necessary for the Funds to continue receiving investment management services from the Adviser and Sub-Adviser following the Change of Control Events contemplated by the Separation Plan. |
11. | The Board considered representations by the Adviser and its affiliates, as well as related supporting documentation, indicating that the Proposed Agreements, including the fees payable thereunder, are substantially similar to and, in any event, are no less favorable to the Funds than, the terms of the corresponding Current Agreements. |
12. | The Board considered that, to the extent that the Proposed Agreements do have changes, those changes are designed to benefit shareholders and/or to provide management, subject to Board supervision, with greater flexibility to manage the Funds in a manner consistent with stated investment objectives. In this connection, the Board considered, among other matters, the Adviser’s representation that no material changes would be made to the Proposed Agreements, as compared to the Current Agreements, with respect to the material contractual terms that were previously negotiated under which the Funds and their Adviser and Sub-Adviser currently operate, |
| including contractual provisions relating to fees and expenses. |
13. | The Board considered representations by the Adviser and its affiliates, including senior investment management personnel, as well as related supporting documentation, indicating that: (a) the Adviser and Sub-Adviser can be expected to provide services of the same nature, extent and quality under the Proposed Agreements as are provided thereby under the Current Agreements; and (b) the Separation Plan is not expected to result in any changes to: (i) the management of the Funds, including the continuity of the Funds’ portfolio managers and other personnel responsible for the management operations of the Funds; or (ii) the investment objective of or the principal investment strategies used to manage any of the Funds. |
14. | The Board considered the steps by the Adviser and its affiliates that have been taken and are planned to be taken to retain the employment of key personnel, including incentive compensation plan arrangements, as well as the overall positive indications by many such personnel regarding the opportunities presented by the Separation Plan to create and grow an investment management operation that is independent from other ING Groep banking and insurance operations that will not be part of ING U.S. |
15. | The Board considered that the Adviser and its affiliates have agreed to bear all expenses associated with obtaining shareholder approval of the Proposed Agreements. |
16. | The Board considered ING U.S.’s preliminary “branding” plans regarding the future name of its asset management operations, as well as its anticipated ability to continue to use the “ING” brand name for such operations for a period of time following the IPO. |
17. | The Board considered the advice provided by Dechert LLP, legal counsel to the Funds and the Adviser, with respect to the Proposed Agreements (including advice relating to the process and timing of seeking shareholder approval of the Proposed Agreements, and whether shareholder approvals would be required in connection with any future aspects of the Separation Plan following the IPO) and regarding the Board’s role and responsibilities with respect to ING Groep’s restructuring. |
18. | The Board considered the legal obligation of ING Groep under the Separation Plan to divest its ownership interest in ING U.S., as well as certain potential advantages and disadvantages to shareholders of the Funds of this divestiture, and certain potential advantages and disadvantages of alternative divestiture actions that ING Groep might be forced to take if the Proposed Agreements are not approved by the Board or by shareholders of the Funds. |
19. | The Board considered peer group and benchmark investment performance comparison data relating to the Funds that was more current than related comparison data considered by it in connection with the September 6, 2012, November 29, 2012, and March 7, 2013, as applicable, approvals of the Current Agreements. |
20. | The Board considered actions taken by the Adviser subsequent to the September 6, 2012 and November 29, 2012, as applicable, approvals of the Current Agreements with respect to certain ING Funds in response to requests made by the Board in connection with those approvals. |
21. | The Board considered the potential benefits to be realized by the Adviser and its affiliates as a result of the Proposed Agreements. |
22. | The Board considered that, if shareholders approve the Proposed Agreements, the Board currently expects to continue to conduct an annual contracts review process consistent with the process it would have conducted had the Current Agreements continued in effect and not been replaced by the Proposed Agreements, notwithstanding the two-year initial term set forth in the Proposed Agreements. For example, if the Proposed Agreements are approved by shareholders in 2013, the Board would not legally be required to review or renew those contracts until 2015. However, the Board currently intends to conduct annual reviews of such contracts in 2013 and 2014, and ING has consented to this process. Thus, the Board emphasized that it would be able to, and intends to, monitor on a regular basis the ability of the Adviser and its affiliates to comply with their undertakings to the Board and to monitor on an ongoing basis the quality of services to, and expenses of, the Funds. In addition, the Board considered that, under the Proposed Agreements, it will continue to have the authority, should the need arise in its view, to terminate any of the Proposed Agreements without penalty upon 60 days’ notice. |
January 10, 2013 and on March 7, 2013, the Board, including a majority of the Independent Trustees, voted to approve the Proposed Agreements and, as applicable, to recommend approval of the Proposed Agreements by shareholders of the Funds. In this connection, the Board concluded that, in light of all factors considered, the terms of the Proposed Agreements, including fee rates, were fair and reasonable, and that it would be in the best interests of shareholders of the Funds to approve the Proposed Agreements so as to enable there to be a continuation without interruption of the current services being provided by the current service providers pursuant to the Current Agreements. In this connection, the Board noted that no one factor was determinative of its decisions which, instead, were premised upon the totality of factors considered. In this connection, the Board also noted that different Board members likely placed emphasis on different factors in reaching their individual conclusions to vote in favor of the Proposed Agreements and to recommend approval of the Proposed Agreements to shareholders.
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
The Bank of New York Mellon
One Wall Street
New York, New York 10286
Dechert LLP
1900 K Street, N.W.
Washington, D.C. 20006
![](https://capedge.com/proxy/N-CSRS/0001145443-13-001461/ing-logo.jpg)
Item 2. Code of Ethics.
Not required for semi-annual filing.
Item 3. Audit Committee Financial Expert.
Not required for semi-annual filing.
Item 4. Principal Accountant Fees and Services.
Not required for semi-annual filing.
Item 5. Audit Committee Of Listed Registrants.
Not required for semi-annual filing.
Item 6. Schedule of Investments.
Summary schedule is included as part of the report to shareholders filed under Item 1 of this Form.
ING INTERNATIONAL VALUE FUND | SUMMARY PORTFOLIO OF INVESTMENTS AS OF APRIL 30, 2013 (UNAUDITED) |
Shares | | | | Value | | Percentage of Net Assets | |||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
COMMON STOCK: 97.6% | |||||||||||||||||||
Australia: 1.4% | |||||||||||||||||||
144,768 | Australia & New Zealand Banking Group Ltd. | $ | 4,784,176 | 1.4 | |||||||||||||||
Belgium: 1.4% | |||||||||||||||||||
117,589 | KBC Groep NV | 4,602,546 | 1.4 | ||||||||||||||||
Canada: 0.3% | |||||||||||||||||||
58,900 | Barrick Gold Corp. | 1,160,919 | 0.3 | ||||||||||||||||
Denmark: 1.3% | |||||||||||||||||||
232,320 | @ | Danske Bank A/S | 4,399,403 | 1.3 | |||||||||||||||
Finland: 0.8% | |||||||||||||||||||
152,754 | Fortum OYJ | 2,839,313 | 0.8 | ||||||||||||||||
France: 12.0% | |||||||||||||||||||
17,876 | Air Liquide | 2,264,822 | 0.7 | ||||||||||||||||
249,803 | AXA S.A. | 4,677,968 | 1.4 | ||||||||||||||||
48,059 | BNP Paribas | 2,679,670 | 0.8 | ||||||||||||||||
145,699 | Carrefour S.A. | 4,327,135 | 1.3 | ||||||||||||||||
19,422 | PPR | 4,278,102 | 1.2 | ||||||||||||||||
48,993 | Renault S.A. | 3,381,245 | 1.0 | ||||||||||||||||
61,212 | Sanofi | 6,617,974 | 1.9 | ||||||||||||||||
108,758 | @ | Societe Generale | 3,950,852 | 1.1 | |||||||||||||||
231,830 | Suez Environnement S.A. | 3,327,037 | 1.0 | ||||||||||||||||
22,934 | Technip S.A. | 2,459,909 | 0.7 | ||||||||||||||||
61,118 | Total S.A. | 3,076,502 | 0.9 | ||||||||||||||||
41,041,216 | 12.0 | ||||||||||||||||||
Germany: 6.9% | |||||||||||||||||||
34,432 | BASF AG | 3,223,269 | 0.9 | ||||||||||||||||
50,948 | Bayer AG | 5,326,436 | 1.5 | ||||||||||||||||
28,595 | Bayerische Motoren Werke AG | 2,644,184 | 0.8 | ||||||||||||||||
226,263 | Deutsche Post AG | 5,378,487 | 1.6 | ||||||||||||||||
68,075 | Siemens AG | 7,112,955 | 2.1 | ||||||||||||||||
23,685,331 | 6.9 | ||||||||||||||||||
Hong Kong: 4.1% | |||||||||||||||||||
676,000 | AIA Group Ltd. | 3,007,159 | 0.9 | ||||||||||||||||
6,582,000 | @, X | Chaoda Modern Agriculture Holdings Ltd. | 306,063 | 0.1 | |||||||||||||||
696,400 | @ | Esprit Holdings Ltd. | 979,378 | 0.3 | |||||||||||||||
272,500 | Power Assets Holdings Ltd. | 2,664,727 | 0.8 | ||||||||||||||||
530,000 | Wharf Holdings Ltd. | 4,734,014 | 1.4 | ||||||||||||||||
625,500 | Yue Yuen Industrial Holdings | 2,167,768 | 0.6 | ||||||||||||||||
13,859,109 | 4.1 | ||||||||||||||||||
Italy: 4.3% | |||||||||||||||||||
779,767 | Enel S.p.A. | 3,015,657 | 0.9 | ||||||||||||||||
200,077 | ENI S.p.A. | 4,775,120 | 1.4 | ||||||||||||||||
326,759 | Fiat Industrial SpA | 3,689,860 | 1.1 | ||||||||||||||||
3,675,499 | Telecom Italia S.p.A. | 3,121,974 | 0.9 | ||||||||||||||||
14,602,611 | 4.3 | ||||||||||||||||||
Japan: 21.3% | |||||||||||||||||||
351,000 | Ajinomoto Co., Inc. | 4,817,268 | 1.4 | ||||||||||||||||
110,800 | Asahi Group Holdings, Ltd. | 2,755,327 | 0.8 | ||||||||||||||||
61,500 | Canon, Inc. | 2,211,818 | 0.6 | ||||||||||||||||
351,048 | Dynam Japan Holdings Co. Ltd. | 601,655 | 0.2 | ||||||||||||||||
45,800 | East Japan Railway Co. | 3,866,288 | 1.1 | ||||||||||||||||
749,888 | Hitachi Ltd. | 4,792,418 | 1.4 | ||||||||||||||||
170,700 | Hoya Corp. | 3,420,205 | 1.0 | ||||||||||||||||
107,000 | Japan Tobacco, Inc. | 4,044,733 | 1.2 | ||||||||||||||||
130,900 | Komatsu Ltd. | 3,586,394 | 1.0 | ||||||||||||||||
151,100 | Mitsubishi Corp. | 2,720,142 | 0.8 | ||||||||||||||||
140,000 | Mitsubishi Estate Co., Ltd. | 4,559,958 | 1.3 | ||||||||||||||||
226,200 | Nissan Motor Co., Ltd. | 2,359,788 | 0.7 | ||||||||||||||||
363,400 | Nomura Holdings, Inc. | 2,969,961 | 0.9 | ||||||||||||||||
168,500 | Omron Corp. | 5,322,896 | 1.6 | ||||||||||||||||
165,400 | Sumitomo Mitsui Financial Group, Inc. | 7,818,021 | 2.3 | ||||||||||||||||
55,000 | Sumitomo Realty & Development Co., Ltd. | 2,599,374 | 0.8 | ||||||||||||||||
177,900 | Tokio Marine Holdings, Inc. | 5,653,605 | 1.7 | ||||||||||||||||
79,900 | Tokyo Electron Ltd. | 4,089,617 | 1.2 | ||||||||||||||||
77,800 | Toyota Motor Corp. | 4,515,345 | 1.3 | ||||||||||||||||
72,704,813 | 21.3 | ||||||||||||||||||
Luxembourg: 0.3% | |||||||||||||||||||
94,000 | ArcelorMittal | 1,174,060 | 0.3 | ||||||||||||||||
Netherlands: 8.4% | |||||||||||||||||||
639,109 | Aegon NV | 4,269,088 | 1.3 | ||||||||||||||||
57,023 | European Aeronautic Defence and Space Co. NV | 3,012,621 | 0.9 | ||||||||||||||||
49,727 | Koninklijke DSM NV | 3,205,189 | 0.9 | ||||||||||||||||
167,822 | Koninklijke Philips Electronics NV | 4,644,987 | 1.4 | ||||||||||||||||
195,323 | Reed Elsevier NV | 3,170,255 | 0.9 | ||||||||||||||||
303,835 | Royal Dutch Shell PLC — Class A | 10,344,146 | 3.0 | ||||||||||||||||
28,646,286 | 8.4 | ||||||||||||||||||
New Zealand: 1.1% | |||||||||||||||||||
1,623,436 | Telecom Corp. of New Zealand Ltd. | 3,625,143 | 1.1 | ||||||||||||||||
Norway: 2.1% | |||||||||||||||||||
221,917 | @ | DnB NOR ASA | 3,634,006 | 1.1 | |||||||||||||||
138,880 | Statoil ASA | 3,399,973 | 1.0 | ||||||||||||||||
7,033,979 | 2.1 | ||||||||||||||||||
Singapore: 1.2% | |||||||||||||||||||
1,278,100 | Singapore Telecommunications Ltd. | 4,082,640 | 1.2 | ||||||||||||||||
Spain: 2.9% | |||||||||||||||||||
2,894,975 | @ | Banco Popular Espanol S.A. | 2,254,022 | 0.7 | |||||||||||||||
411,477 | Banco Bilbao Vizcaya Argentaria S.A. | 4,005,551 | 1.2 | ||||||||||||||||
169,228 | Gas Natural SDG S.A. | 3,543,578 | 1.0 | ||||||||||||||||
9,803,151 | 2.9 |
ING INTERNATIONAL VALUE FUND | SUMMARY PORTFOLIO OF INVESTMENTS AS OF APRIL 30, 2013 (UNAUDITED) (CONTINUED) |
Shares | | | | Value | | Percentage of Net Assets | |||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Sweden: 1.8% | |||||||||||||||||||
295,500 | Telefonaktiebolaget LM Ericsson | $ | 3,674,948 | 1.1 | |||||||||||||||
217,174 | Nordea Bank AB | 2,613,261 | 0.7 | ||||||||||||||||
6,288,209 | 1.8 | ||||||||||||||||||
Switzerland: 8.9% | |||||||||||||||||||
147,982 | Credit Suisse Group | 4,109,622 | 1.2 | ||||||||||||||||
93,663 | Nestle S.A. | 6,679,343 | 1.9 | ||||||||||||||||
122,691 | Novartis AG | 9,082,518 | 2.7 | ||||||||||||||||
42,287 | Roche Holding AG — Genusschein | 10,586,154 | 3.1 | ||||||||||||||||
30,457,637 | 8.9 | ||||||||||||||||||
United Kingdom: 14.7% | |||||||||||||||||||
1,436,444 | Barclays PLC | 6,410,101 | 1.9 | ||||||||||||||||
192,885 | BHP Billiton PLC | 5,426,393 | 1.6 | ||||||||||||||||
71,600 | BP PLC ADR | 3,121,760 | 0.9 | ||||||||||||||||
179,421 | GlaxoSmithKline PLC | 4,629,329 | 1.4 | ||||||||||||||||
387,745 | HSBC Holdings PLC | 4,246,579 | 1.2 | ||||||||||||||||
76,346 | Imperial Tobacco Group PLC | 2,729,818 | 0.8 | ||||||||||||||||
348,245 | Rexam PLC | 2,796,218 | 0.8 | ||||||||||||||||
88,506 | Rio Tinto PLC | 4,064,203 | 1.2 | ||||||||||||||||
837,889 | Tesco PLC | 4,765,900 | 1.4 | ||||||||||||||||
2,766,511 | Vodafone Group PLC | 8,441,445 | 2.5 | ||||||||||||||||
212,477 | WPP PLC | 3,512,740 | 1.0 | ||||||||||||||||
50,144,486 | 14.7 | ||||||||||||||||||
United States: 2.4% | |||||||||||||||||||
87,600 | Coca-Cola Enterprises, Inc. | 3,208,788 | 0.9 | ||||||||||||||||
70,600 | @ | Noble Corp. | 2,647,500 | 0.8 | |||||||||||||||
75,000 | @ | Rowan Companies PLC | 2,439,750 | 0.7 | |||||||||||||||
8,296,038 | 2.4 | ||||||||||||||||||
Total Common Stock | |||||||||||||||||||
(Cost $286,666,054) | 333,231,066 | 97.6 | |||||||||||||||||
SHORT-TERM INVESTMENTS: 0.4% | |||||||||||||||||||
Mutual Funds: 0.4% | |||||||||||||||||||
1,498,000 | BlackRock Liquidity Funds, TempFund, Institutional Class | ||||||||||||||||||
(Cost $1,498,000) | 1,498,000 | 0.4 | |||||||||||||||||
Total Short-Term Investments | |||||||||||||||||||
(Cost $1,498,000) | 1,498,000 | 0.4 | |||||||||||||||||
Total Investments in Securities (Cost $288,164,054) | $ | 334,729,066 | 98.0 | ||||||||||||||||
Assets in Excess of Other Liabilities | 6,660,586 | 2.0 | |||||||||||||||||
Net Assets | $ | 341,389,652 | 100.0 |
@ | Non-income producing security | |
ADR | American Depositary Receipt | |
X | Fair value determined by ING Funds Valuation Committee appointed by the Funds’ Board of Directors/Trustees. | |
Cost for federal income tax purposes is $296,295,264. |
Net unrealized appreciation consists of: | ||||||
Gross Unrealized Appreciation | $ | 52,622,864 | ||||
Gross Unrealized Depreciation | (14,189,062 | ) | ||||
Net Unrealized Appreciation | $ | 38,433,802 |
Sector Diversification | Percentage of Net Assets | |||||
---|---|---|---|---|---|---|
Financials | 26.0 | % | ||||
Health Care | 10.6 | |||||
Industrials | 10.0 | |||||
Consumer Staples | 9.8 | |||||
Energy | 9.4 | |||||
Consumer Discretionary | 8.0 | |||||
Information Technology | 6.9 | |||||
Materials | 6.7 | |||||
Telecommunication Services | 5.7 | |||||
Utilities | 4.5 | |||||
Short-Term Investments | 0.4 | |||||
Assets in Excess of Other Liabilities | 2.0 | |||||
Net Assets | 100.0 | % |
ING INTERNATIONAL VALUE FUND | SUMMARY PORTFOLIO OF INVESTMENTS AS OF APRIL 30, 2013 (UNAUDITED) (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 April 30, 2013 | |||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Asset Table | ||||||||||||||||||
Investments, at fair value | ||||||||||||||||||
Common Stock | ||||||||||||||||||
Australia | $ | — | $ | 4,784,176 | $ | — | $ | 4,784,176 | ||||||||||
Belgium | — | 4,602,546 | — | 4,602,546 | ||||||||||||||
Canada | 1,160,919 | — | — | 1,160,919 | ||||||||||||||
Denmark | — | 4,399,403 | — | 4,399,403 | ||||||||||||||
Finland | — | 2,839,313 | — | 2,839,313 | ||||||||||||||
France | — | 41,041,216 | — | 41,041,216 | ||||||||||||||
Germany | — | 23,685,331 | — | 23,685,331 | ||||||||||||||
Hong Kong | — | 13,553,046 | 306,063 | 13,859,109 | ||||||||||||||
Italy | — | 14,602,611 | — | 14,602,611 | ||||||||||||||
Japan | 601,655 | 72,103,158 | — | 72,704,813 | ||||||||||||||
Luxembourg | 1,174,060 | — | — | 1,174,060 | ||||||||||||||
Netherlands | — | 28,646,286 | — | 28,646,286 | ||||||||||||||
New Zealand | — | 3,625,143 | — | 3,625,143 | ||||||||||||||
Norway | — | 7,033,979 | — | 7,033,979 | ||||||||||||||
Singapore | — | 4,082,640 | — | 4,082,640 | ||||||||||||||
Spain | 2,254,022 | 7,549,129 | — | 9,803,151 | ||||||||||||||
Sweden | — | 6,288,209 | — | 6,288,209 | ||||||||||||||
Switzerland | — | 30,457,637 | — | 30,457,637 | ||||||||||||||
United Kingdom | 3,121,760 | 47,022,726 | — | 50,144,486 | ||||||||||||||
United States | 8,296,038 | — | — | 8,296,038 | ||||||||||||||
Total Common Stock | 16,608,454 | 316,316,549 | 306,063 | 333,231,066 | ||||||||||||||
Short-Term Investments | 1,498,000 | — | — | 1,498,000 | ||||||||||||||
Total Investments, at fair value | $ | 18,106,454 | $ | 316,316,549 | $ | 306,063 | $ | 334,729,066 |
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. |
Item 7. Disclosure of Proxy Voting Policies and Procedures for Closed-end Management Investment Companies.
Not applicable.
Item 8. Portfolio Managers of Closed-end Management Investment Companies.
Not applicable.
Item 9. Purchases of Equity Securities by Closed-end Management Investment Company and Affiliated Purchasers.
Not applicable.
Item 10. Submission of Matters to a Vote of Security Holders.
The Board has a Nominating Committee for the purpose of considering and presenting to the Board candidates it proposes for nomination to fill Independent Trustee vacancies on the Board. The Committee currently consists of all Independent Trustees of the Board. (6 individuals). The Nominating Committee operates pursuant to a Charter approved by the Board. The primary purpose of the Nominating Committee is to consider and present to the Board the candidates it proposes for nomination to fill vacancies on the Board. In evaluating candidates, the Nominating Committee may consider a variety of factors, but it has not at this time set any specific minium qualifications that must be met. Specific qualifications of candidates for Board membership will be based on the needs of the Board at the time of nomination.
The Nominating Committee is willing to consider nominations received from shareholders and shall assess shareholder nominees in the same manner as it reviews its own nominees. A shareholder nominee for director should be submitted in writing to the Fund’s Secretary. Any such shareholder nomination should include at a minimum the following information as to each individual proposed for nomination as trustee: such individual’s written consent to be named in the proxy statement as a nominee (if nominated) and to serve as a trustee (if elected), and all information relating to such individual that is required to be disclosed in the solicitation of proxies for election of trustees, or is otherwise required, in each case under applicable federal securities laws, rules and regulations.
The secretary shall submit all nominations received in a timely manner to the Nominating Committee. To be timely, any such submission must be delivered to the Fund’s Secretary not earlier than the 90th day prior to such meeting and not later than the close of business on the later of the 60th day prior to such meeting or the 10th day following the day on which public announcement of the date of the meeting is first made, by either disclosure in a press release or in a document publicly filed by the Fund with the Securities and Exchange Commission.
Item 11. Controls and Procedures.
(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. |
Item 12. Exhibits.
(a)(1) | The Code of Ethics is not required for the semi-annual filing. | |||
(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. | |||
(a)(3) | Not required for semi-annual filing. | |||
(b) | The officer certifications required by Section 906 of the Sarbanes-Oxley Act of 2002 are attached hereto as EX-99.906CERT. |
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
(Registrant): ING Mayflower Trust
By | /s/ Shaun P. Mathews | |||
Shaun P. Mathews President and Chief Executive Officer | ||||
Date: | July 2, 2013 | |||
Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, this report has been signed below by the following persons on behalf of the registrant and in the capacities and on the dates indicated.
By | /s/ Shaun P. Mathews | |||
Shaun P. Mathews President and Chief Executive Officer | ||||
Date: | July 2, 2013 | |||
By | /s/ Todd Modic | |||
Todd Modic Senior Vice President and Chief Financial Officer | ||||
Date: | July 2, 2013 | |||