ING (L) RENTA FUND - Fundsupermart.com

Semi-annual report and unaudited financial statements
(Sub-funds offered on the Hong Kong market)
for the period ended September 30, 2008
ING (L) Renta Fund - Asian Debt
(Denominated in USD)
ING (L) RENTA FUND
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Securities portfolio as at 30/09/2008
Quantity/
Nominal
Name
Transferable securities and money market instruments listed on
an official stock exchange
Bonds and other debt instruments
South Korea
1,000,000 EXP-IMP BK KOREA 5.5% 07-17/10/2012 USD 966,426.06 2.83
200,000 GS CALTEX CORP 5.5% 07-24/04/17 USD 176,674.28 0.52
550,000 GS CALTEX CORP 7.25% 08-02/07/2013 USD 541,713.43 1.59
650,000 IND BK OF KOREA 04-19/05/2014 SR USD 641,047.35 1.88
150,000 KOREA DEV BANK 5.3% 08-17/01/2013 USD 139,485.00 0.41
330,000 KOREA HIGHWAY 5.125% 05-20/05/2015 USD 299,991.53 0.88
600,000 KOREA MIDLAND PW 5.5% 06-14/03/2016 USD 551,503.20 1.62
400,000 KOREA SOUTH PWR 5.375% 08-18/04/2013 USD 388,665.05 1.14
250,000 NACF 04-18/06/2014 FRN USD 251,223.08 0.74
250,000 NACF 05-26/05/2015 SR USD 241,303.50 0.71
200,000 NACF 07-26/04/2017 FRN USD 191,320.02 0.56
450,000 PUSAN BANK 07-30/10/2017 FRN USD 408,555.00 1.20
500,000 SHINHAN BANK 05-02/03/2035 SR USD 382,907.72 1.12
550,000 SHINHAN BANK 06-28/02/2016 SR USD 541,200.00 1.59
400,000 SK ENERGY CO LTD 7% 08-19/06/2013 USD 387,643.00 1.14
500,000 WOORI BANK 06-03/05/2016 SR USD 457,136.97 1.34
200,000 WOORI BANK 07-02/05/2037 FRN USD 128,465.00 0.38
6,695,260.19 19.65
Cayman Islands
Currency Market value %
in USD NAV
250,000 AGILE PROPERTY 9% 06-22/09/2013 USD 161,745.75 0.47
100,000 CHINA MILK PRODU 0% 07-05/01/2012 CV USD 94,115.00 0.28
400,000 HK LAND FINANCE 5.5% 04-28/04/2014 USD 384,986.32 1.13
400,000 HUT WHA INT 0333 6.25% 03-24/01/2014 USD 391,094.48 1.15
450,000 HUTCH WHAM FIN 7.45% 97-01/08/2017 USD 454,860.09 1.33
325,000 HUTCHINSON WHAMPOA FIN 7.5% 97-
01/08/2027
USD 313,093.63 0.92
75,000 HUTCHINSON WHAMPOA INTL 5.45% 03-
24/11/2010
USD 75,298.28 0.22
525,000 HUTCHINSON WHAMPOA INTL 7.45% 03-
24/11/2033
USD 493,005.98 1.45
1,300,000 HUTCHINSON WHAMPOA INTL 6.5% 03-
13/02/2013
USD 1,284,459.23 3.78
100,000 MTR CORP 4.75% 04-21/01/2014 USD 99,336.89 0.29
400,000 PARKSON RETAIL GROUP 7.875% 06-
14/11/11
USD 406,000.00 1.19
300,000 SUN HUNG KAI PRO 5.375% 07-08/03/2017 USD 271,542.00 0.80
100,000 UOB CAYMAN LTD 5.796% 05-29/12/2049
FRN
USD 86,277.18 0.25
4,515,814.83 13.26
Indonesia
550,000 BANK INTL INDO 05-28/04/2015 SR USD 539,865.70 1.58
300,000 CILIANDRA 10.75% 06-08/12/2011 USD 298,890.00 0.88
600,000 INDONESIA REP 08 7.75% 17/01/2038 USD 542,095.20 1.59
600,000 INDONESIA (REP) 6.875% 08-17/01/2018 USD 551,862.60 1.62
1,000,000 INDONESIA (REP) 8.5% 05-12/10/2035 USD 992,829.00 2.91
700,000 PT BANK DANAMON 04-30/03/2014 SR USD 705,265.32 2.07
3,630,807.82 10.65
Malaysia
900,000 IOI RESOURCES 0% 08-15/01/2013 CV USD 687,474.00 2.03
100,000 MISC CAPITAL LTD 6.125%04-01/07/2014 USD 99,676.58 0.29
600,000 PETRONAS CAP LTD 7% 02-22/05/2012 USD 652,090.50 1.91
500,000 PRIME HOLDINGS 5.375% 04-22/09/2014 USD 456,206.13 1.34
200,000 PUBLIC BANK BERH 05-20/06/2017 SR USD 184,745.00 0.54
100,000 PUBLIC BANK BERH 06-22/08/2036 SR USD 93,658.75 0.27
600,000 SARAWAK CORP 04-22/12/2009 FRN USD 594,334.05 1.74
Quantity/
Nominal
Name
Currency Market value %
in USD NAV
625,000 TM GLOBAL INC 5.25% 04-22/09/2014 USD 634,119.10 1.86
3,402,304.11 9.98
Singapore
800,000 DBS BANK LTD 06-15/07/2021 FRN USD 630,681.60 1.85
400,000 DBS BANK LTS/SP 07-16/05/2017 FRN USD 361,509.80 1.06
100,000 DEV BK SINGAPORE 04-15/11/2019 SR USD 89,509.80 0.26
100,000 ICICI BANK SING 5.75% 05-16/11/2010 USD 98,492.68 0.29
430,000 SINGTEL 6.375% 01-01/12/2011 USD 449,309.85 1.32
200,000 UNITED OVERSEAS 04-03/09/2019 SR USD 184,142.49 0.54
350,000 UNITED OVERSEAS 4.5% 03-02/07/2013 USD 327,074.65 0.96
2,140,720.87 6.28
Virgin Islands
800,000 CITIC RESOURCES 6.75% 07-15/05/2014 USD 608,000.00 1.79
100,000 CMHI FINANCE 6.125% 08-18/06/2013 USD 98,687.39 0.29
500,000 CMHI FINANCE 7.125% 08-18/06/2018 USD 475,819.85 1.40
150,000 CNOOC FINANCE 03/2033 5 1/2% USD 127,614.38 0.37
400,000 PCCW-HKT CAP NO3 5.25% 05-20/07/2015 USD 325,157.20 0.95
300,000 PCCW-HKT CAPITAL 7.75% 01-15/11/2011 USD 308,324.25 0.90
1,943,603.07 5.70
Hong Kong
675,000 BANGKOK BANK 9.025% 99-15/03/2029 USD 653,269.73 1.92
500,000 CHINA TRUST COMM BANK 05-29/03/2049 USD 413,342.50 1.21
FRN
750,000 HKCG FIN LTD 6.25% 08-07//08/2018 USD 717,650.44 2.10
100,000 WING HANG BK LTD 9.375% 08-11/09/2013 USD 98,746.75 0.29
1,883,009.42 5.52
Bermuda
100,000 ASIA ALUMINUM 8% 04-23/12/2011 USD 88,120.00 0.26
400,000 BW GROUP LTD 6.625% 07-28/06/2017 USD 327,686.80 0.96
400,000 HANG FUNG GOLD 9.25% 07-17/10/2014 USD 280,000.00 0.82
DFLT
400,000 NINE DRAGONS 7.875% 08-29/04/2013 USD 387,480.00 1.14
100,000 NOBLE GROUP LTD 6.625% 05-17/03/2015 USD 76,151.20 0.22
200,000 NOBLE GROUP LTD 8.5% 08-30/05/2013 USD 170,000.00 0.50
1,329,438.00 3.90
Netherlands
100,000 INDOSAT FIN CO 7.75% 03-05/11/2010 USD 100,742.40 0.30
300,000 MAJAPAHIT HOLD 7.25% 07-28/06/2017 USD 264,237.00 0.78
300,000 MAJAPAHIT HOLD 7.75% 06-17/10/2016 USD 266,181.30 0.78
600,000 NIBC BANK NV FRN 07-22/04/2012 USD 582,924.00 1.70
1,214,084.70 3.56
Philippines
500,000 NATL POWER CORP 05-23/08/2011 FRN USD 508,802.13 1.49
500,000 NATL POWER CORP 6.875% 06-02/11/2016 USD 458,708.00 1.35
200,000 PHILIP LONG DIST 8.35% 97-06/03/2017 USD 215,842.40 0.63
1,183,352.53 3.47
Thailand
275,000 TFBTB-REG S 8.25% 96-21/08/2016 USD 247,022.88 0.72
275,000 THAI OIL CO LTD 5.1% 05-09/06/2015 USD 258,691.81 0.76
200,000 TRUE MOVE CO LTD 10.375% 07-01/08/14 USD 138,212.80 0.41
643,927.49 1.89
Canada
400,000 SINO-FOREST CORP 9.125% 04-17/08/2011 USD 396,000.00 1.16
396,000.00 1.16
The accompanying notes form an integral part of these financial statements.
ING INVESTMENT MANAGEMENT
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