ING (L) RENTA FUND - ING Investment Management, Asia Pacific

ING (L) RENTA FUND Semi-annual report and unaudited financial statements
(Report dedicated for the Singapore market)
for the period ended September 30, 2010
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ING (L) Renta Fund - Emerging Markets Debt (Hard Currency)
(Denominated in USD)
Securities portfolio as at 30/09/2010
Quantity/
Nominal
Transferable securities and money market instruments listed on
an official stock exchange
Bonds and other debt instruments
Brazil
Name
Currency
Market value
in USD
8,204,000 BANCO BRADES CI 5.9% 10-16/01/2021 USD 8,327,060.00 0.58
3,210,000 BANCO NAC DESENV 6.5% 09-10/06/2019 USD 3,703,537.50 0.26
6,600,000 BANCO VOTORANTIM 7.375% 10-
21/01/2020
USD 7,029,000.00 0.49
3,700,000 BRAZIL REP OF 11% 00-17/08/2040 USD 5,124,500.00 0.36
21,080,000 BRAZIL REP OF 8.25% 04-20/01/2034 USD 30,671,400.00 2.12
1,700,000 BRAZIL REP OF 8.75% 05-04/02/2025 USD 2,494,461.00 0.17
7,500,000 BRAZIL-GLOBAL BD 10.125% 97-15/05/2027 USD 12,075,000.00 0.84
6,145,000 BRAZIL-GLOBAL BD 8.875% 01-15/04/2024 USD 9,017,787.50 0.62
8,515,000 JBS FINANCE II 8.25% 10-29/01/2018 USD 8,781,093.75 0.61
Argentina
87,223,839.75 6.05
66,950,000 ARGENTINA 05-15/12/2035 FRN FLAT USD 7,876,667.50 0.55
43,476,000 ARGENTINA 05-15/12/2035 FRN FLAT EUR 6,342,567.44 0.44
54 ARGENTINA 05-15/12/2035 FRN FLAT USD 6.01 0.00
6,000,000 ARGENTINA 05-31/12/2038 SR EUR 2,712,925.44 0.19
17,500,000 ARGENTINA 7.82% 05-31/12/2033 EUR 21,418,994.65 1.47
11,024,467 ARGENTINE REP 7.82% 10-31/12/2033 EUR 10,648,301.04 0.74
2,500,000 BUENOS AIRES MTGE 06-01/05/2020 EUR 1,331,070.00 0.09
25,388,838 BUENOS AIRES PROV 06-15/05/2035 SR USD 10,663,311.96 0.73
12,370,000 BUENOS AIRES PROV 06-15/05/2035 SR EUR 6,670,571.98 0.46
2,091,334 BUENOS AIRES PROV 9.25% 06-15/04/2017 USD 1,882,200.60 0.13
2,500,000 BUENOS AIRES PROV 9.625% 07-18/04/2028 USD 1,975,000.00 0.14
2,614,500 PROVINCE DEL NEUQUEN 8.56% 06-
18/10/2014
USD 2,764,833.75 0.19
2,621,116 PROVINCE OF MENDOZA 5.5% 04-
04/09/2018
USD 2,241,054.41 0.16
4,799,000 TRANSPORT GAS NO 06-31/12/2012 DFLT USD 2,399,500.00 0.17
1,300,000 TRANSPORT GAS NO 06-31/12/2012 SR DFLT USD 650,000.00 0.05
843,500 TRANSPORT GAS NO 06-31/12/2012 SR DFLTD USD 421,750.00 0.03
843,500 TRANSPORT GAS NO 06-31/12/2012 SR DFLTD USD 421,750.00 0.03
542,250 TRANSPORT GAS NO 06-31/12/2012 SR DFLTD USD 271,125.00 0.02
Turkey
80,691,629.78 5.59
7,000,000 TURKEY REP OF 11.875% 00-15/01/2030 USD 12,390,000.00 0.86
7,000,000 TURKEY REP OF 5.625% 10-30/03/2021 USD 7,630,000.00 0.53
38,003,000 TURKEY REP OF 6.75% 10-30/05/2040 USD 43,328,740.42 3.00
9,400,000 TURKEY REP OF 7.375% 05-05/02/2025 USD 11,609,000.00 0.80
2,400,000 TURKEY REP OF 8% 04-14/02/2034 USD 3,132,000.00 0.22
Philippines
78,089,740.42 5.41
15,050,000 NATL POWER CORP 9.625% 03-15/05/2028 USD 20,468,000.00 1.42
12,000,000 PHILIPPINES (REP) 10.625% 00-16/03/2025 USD 19,314,528.00 1.34
10,000,000 PHILIPPINES (REP) 9.5% 05-02/02/2030 USD 15,338,000.00 1.06
10,744,000 PHILIPPINES(REP) 6.375% 09-23/10/2034 USD 12,541,750.54 0.87
4,000,000 PHILIPPINES(REP) 7.75% 06-14/01/2031 USD 5,320,000.00 0.37
Indonesia
72,982,278.54 5.06
1,400,000 INDONESIA (REP) 08 7.75% 17/01/2038 USD 1,914,500.00 0.13
19,726,000 INDONESIA (REP) 11.625% 09-04/03/2019 USD 30,575,300.00 2.13
8,895,000 INDONESIA (REP) 6.875% 08-17/01/2018 USD 10,740,712.50 0.74
17,370,000 INDONESIA (REP) 8.5% 05-12/10/2035 USD 25,316,775.00 1.75
The accompanying notes form an integral part of these financial statements.
%
NAV
Quantity/
Nominal
Name
Currency
Market value
in USD
%
NAV
3,445,000 PT ADARO INDONES 7.625% 09-22/10/2019 USD 3,755,050.00 0.26
Netherlands
72,302,337.50 5.01
6,300,000 DTEK FINANCE BV 9.5% 10-28/04/2015 USD 6,456,240.00 0.45
1,620,000 INDOSAT PALAPA 7.375% 10-29/07/2020 USD 1,786,050.00 0.12
1,155,000 INTERGAS FIN BV 6.375% 07-14/05/2017 USD 1,247,400.00 0.09
28,251,000 KAZMUNAIGAZ FINA 11.75% 09-23/01/2015 USD 35,737,515.00 2.47
3,795,000 KMG FINANCE SUB 7% 10-05/05/2020 USD 4,183,987.50 0.29
5,050,000 MAJAPAHIT HOLD 7.875% 07-29/06/2037 USD 6,262,000.00 0.43
7,429,000 METINVEST 10.25% 10-20/05/2015 USD 7,845,024.00 0.54
3,975,000 MIH BV 6.375% 10-28/07/2017 USD 4,116,510.00 0.29
2,600,000 TURANALEM FIN 6.25% 06-27/09/2011 DFLT EUR 1,686,022.00 0.12
Malaysia
69,320,748.50 4.80
56,530,000 PETRONAS CAP LTD 5.25% 09-12/08/2019 USD 63,141,466.15 4.38
Luxembourg
63,141,466.15 4.38
1,800,000 ALFA DIV PYMT RT 06-15/12/2011 FRN USD 1,710,000.00 0.12
5,900,000 BANK OF MOSCOW 7.5% 05-25/11/2015 USD 5,796,750.00 0.40
5,400,000 EDEL CAPITAL 7.7% 05-03/08/2015 USD 5,724,000.00 0.40
12,200,000 GAZPROM OAO 8.625% 04-28/04/2034 USD 15,494,000.00 1.06
2,000,000 OJSC RUS AG BK 7.75 08-29/05/2018 USD 2,250,000.00 0.16
2,953,000 RUSS AGRIC BK 06-21/09/2016 SR USD 2,967,765.00 0.21
6,000,000 RUSS AGRIC BK 7.175% 06-16/05/2013 USD 6,450,000.00 0.45
2,068,473 TENGIZCHEVROIL 6.124% 04-15/11/2014 USD 2,171,896.35 0.15
1,821,000 TNK-BP FINANCE 6.25% 10-02/02/2015 USD 1,925,707.50 0.13
2,421,000 TNK-BP FINANCE 7.25% 10-02/02/2020 USD 2,641,916.25 0.18
1,118,000 TNK-BP FINANCE 7.875% 07-13/03/2018 USD 1,260,545.00 0.09
6,155,000 VIMPELCOM (UBS) 8.25% 06-23/05/2016 USD 6,708,950.00 0.46
4,160,000 VTB CAPITAL SA 6.25% 05-30/06/2035 USD 4,264,000.00 0.30
Ukraine
59,365,530.10 4.11
27,810,000 NAFTOGAZ UKRAINE 9.5% 09-30/09/2014 USD 30,079,296.00 2.07
10,300,000 UKRAINE GOVT 6.875% 10-23/09/2015 USD 10,321,084.10 0.72
5,400,000 UKRAINE GOVT 7.75% 10-23/09/2020 USD 5,413,500.00 0.38
Cayman Islands
45,813,880.10 3.17
12,125,000 FIBRIA OVERSEAS 7.5% 10-04/05/2020 USD 12,867,656.25 0.90
8,438,190 INTEROCEANICA IV 0% 07-30/11/2018 USD 6,455,215.65 0.45
13,440,377 INTEROCEANICA IV 0% 07-30/11/2025 USD 6,518,583.08 0.45
8,536,000 PERU ENHANCED 0% 06-02/06/2025 USD 4,310,680.00 0.30
2,582,033 PERU ENHANCED 0% 06-31/05/2018 USD 2,084,991.93 0.14
3,260,000 PETROBRAS INTL 7.875% 09-15/03/2019 USD 4,065,552.52 0.28
2,795,000 VOTORANTIM PARTI 6.75% 10-05/04/2021 USD 2,948,725.00 0.20
4,035,000 VOTO-VOTORANTIM 6.625% 09-25/09/2019 USD 4,246,837.50 0.29
Mexico
43,498,241.93 3.01
6,067,000 BBVA BANCOMER SA 07-17/05/2022 FRN USD 5,969,582.18 0.41
5,650,000 MEXICAN UNITED 6.05% 08-11/01/2040 USD 6,469,250.00 0.45
14,699,000 MEXICAN UTD STS 6.75% 04-27/09/2034 USD 18,263,507.50 1.26
1,500,000 MEXICAN UTD STS 8.3% 01-15/08/2031 USD 2,141,250.00 0.15
5,000,000 PETROLEOS MEXICA 5.5% 10-21/01/2021 USD 5,325,000.00 0.37
2,400,000 PETROLEOS MEXICA 8% 09-03/05/2019 USD 2,976,000.00 0.21
Croatia
41,144,589.68 2.85
8,200,000 CROATIA 6.5% 09-05/01/2015 EUR 11,978,264.80 0.83
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