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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Securities portfolio as at 30/09/2010
Quantity/
Nominal
Name
Transferable securities and money market instruments listed on
an official stock exchange
Bonds and other debt instruments
United States
1,100,000 AMER INTL GROUP 4% 06-20/09/2011 EUR 1,099,592.97 0.44
1,450,000 AT&T INC 6.125% 08-02/04/2015 EUR 1,679,694.55 0.67
1,400,000 BANK OF AMER CRP 06-28/03/2018 SR EUR 1,351,000.00 0.53
2,000,000 BANK OF AMER CRP 7% 09-15/06/2016 EUR 2,278,399.96 0.90
1,680,000 BNP PARIBAS VI 03-29/01/2049 SR EUR 1,654,800.00 0.66
1,250,000 CARGILL 4.375% 06-29/04/2013 EUR 1,319,350.05 0.52
1,100,000 CARGILL 4.875% 07-29/05/2017 EUR 1,217,985.98 0.48
1,287,000 CITIGROUP 04-10/02/2019 SR EUR 1,254,825.00 0.50
1,210,000 CITIGROUP 3.95% 06-10/10/2013 EUR 1,240,951.69 0.49
1,300,000 CITIGROUP INC 7.375% 09-16/06/2014 EUR 1,464,345.97 0.58
1,665,000 CS GRP FIN (US) 05-14/09/2020 SR EUR 1,678,486.58 0.66
1,903,000 GE CAP TRUST IV 10-15/09/2066 FRN EUR 1,569,975.00 0.62
1,163,000 GOLDMAN SACHS GP 4.75% 06-12/10/2021 EUR 1,123,364.99 0.44
1,200,000 GOLDMAN SACHS 6.375% 08-02/05/2018 EUR 1,342,944.04 0.53
1,740,000 HSBC FINANCE CRP 3.75% 05-04/11/2015 EUR 1,797,037.34 0.71
1,800,000 JP MORGAN CHASE 06-31/03/2018 SR EUR 1,811,285.84 0.72
1,450,000 JP MORGAN CHASE 5.25% 08-08/05/2013 EUR 1,557,503.13 0.62
1,500,000 JPMORGAN CHASE 3.875% 10-23/09/2020 EUR 1,509,495.05 0.60
2,000,000 KRAFT FOODS INC 5.75% 08-20/03/2012 EUR 2,106,419.98 0.83
1,850,000 MET LIFE GLOB 4.625% 07-16/05/2017 EUR 1,971,286.00 0.78
750,000 MORGAN STANLEY 4.5% 09-29/10/2014 EUR 771,480.05 0.31
1,300,000 PFIZER INC 4.75% 09-03/06/2016 EUR 1,450,761.00 0.57
350,000 PHILIP MORRIS INTL 5.875% 08-04/09/2015 EUR 405,608.00 0.16
526,000 PROCTER & GAMBLE 4.5% 07-12/05/2014 EUR 570,489.04 0.23
1,400,000 ROCHE HLDGS INC 5.625% 09-04/03/2016 EUR 1,619,044.06 0.64
313,000 SANPAOLO IMI CAP 00-29/07/2049 SR EUR 312,530.49 0.12
700,000 SG CAP TRUST III 03-29/11/2049 SR EUR 651,000.00 0.26
738,000 UNICREDITO ITALI 05-29/10/2049 SR EUR 616,230.00 0.24
1,100,000 WACHOVIA BANK NA 6% 08-23/05/2013 EUR 1,204,521.91 0.48
550,000 WAL-MART STORES 4.875% 09-21/09/2029 EUR 629,425.51 0.25
39,259,834.18 15.54
Netherlands
2,000,000 ABN AMRO BANK NV 3.625% 10-06/10/2017 EUR 2,008,000.14 0.80
900,000 AKZO NOBEL NV 7.25% 09-27/03/2015 EUR 1,065,123.00 0.42
1,400,000 ALLIANZ FINANCE 4% 06-23/11/2016 EUR 1,502,213.93 0.59
500,000 ALLIANZ FINANCE 4.75% 09-22/07/2019 EUR 559,300.01 0.22
2,900,000 BMW FINANCE 8.875% 08-19/09/2013 EUR 3,448,883.06 1.36
1,900,000 COCA-COLA HBC BV 7.875% 08-15/01/2014 EUR 2,199,059.97 0.87
1,800,000 DAIMLER INTL FIN 7.875% 09-16/01/2014 EUR 2,097,972.02 0.83
1,300,000 DEUTSCHE TEL FIN 8.125% 02-29/05/2012 EUR 1,428,362.01 0.57
305,000 EDP FINANCE BV 5.5% 09-18/02/2014 EUR 320,689.19 0.13
1,400,000 E.ON INTL FIN BV 5.25% 08-06/06/2014 EUR 1,547,601.99 0.61
1,650,000 E.ON INTL FIN BV 5.75% 08-07/05/2020 EUR 1,987,804.62 0.79
3,000,000 FORTIS BANK NED 4% 10-03/02/2015 EUR 3,108,540.12 1.23
1,200,000 GENERALI FINANCE 07-29/12/2049 SR EUR 1,068,000.00 0.42
1,500,000 HEIDELBERGCEMENT 7.5% 10-03/04/2020 EUR 1,501,875.00 0.59
2,028,000 HEINEKEN 7.125% 09-07/04/2014 EUR 2,304,152.54 0.91
1,200,000 ING BANK NV 04-15/03/2019 SR EUR 1,223,903.96 0.48
700,000 KPN NV 3.75% 10-21/09/2020 EUR 702,534.00 0.28
500,000 KPN NV 4.75% 06-17/01/2017 EUR 544,555.02 0.22
1,050,000 KPN NV 6.25% 09-04/02/2014 EUR 1,174,771.62 0.47
350,000 PORTUGAL TEL FIN 5% 09-04/11/2019 EUR 335,772.49 0.13
1,200,000 RABOBANK NEDERLAND 4.75% 08-
15/01/2018
EUR 1,329,624.12 0.53
520,000 REPSOL INTL FIN 4.625% 04-08/10/2014 EUR 550,404.40 0.22
600,000 SHELL INTL FIN 4.5% 09-09/02/2016 EUR 662,634.02 0.26
The accompanying notes form an integral part of these financial statements.
ING (L) Renta Fund - Eurocredit
(Denominated in EUR)
Currency
Market value
in EUR
%
NAV
Quantity/
Nominal
Name
Currency
Market value
in EUR
%
NAV
1,150,000 SIEMENS FINAN 5.375% 08-11/06/2014 EUR 1,286,919.07 0.51
450,000 TELEFONICA EUROP 5.875% 03-14/02/2033 EUR 507,087.02 0.20
650,000 TENNET BV 4.5% 10-09/02/2022 EUR 717,970.51 0.28
United Kingdom
35,183,753.83 13.92
1,150,000 AVIVA PLC 03-02/10/2023 SR EUR 1,161,500.00 0.46
700,000 BANK OF SCOTLAND 5.625% 08-23/05/2013 EUR 741,783.01 0.29
1,450,000 BARCLAYS BK PLC 04-04/03/2019 SR EUR 1,477,607.99 0.59
200,000 BARCLAYS BK PLC 06-20/04/2016 FRN EUR 196,420.00 0.08
2,000,000 BARCLAYS BK PLC 4.875% 09-13/08/2019 EUR 2,188,519.90 0.87
1,550,000 BARCLAYS BK PLC 6% 10-14/01/2021 EUR 1,651,540.55 0.65
2,450,000 BAT INTL FINANCE BATSLN 5.375% 07-
29/06/2017
EUR 2,796,503.63 1.10
450,000 BAT INTL FINANCE 5.875% 08-12/03/2015 EUR 512,473.51 0.20
3,810,000 HBOS PLC 05-18/03/2030 SR EUR 2,955,950.40 1.16
1,500,000 HSBC HLDGS PLC 05-29/06/2020 SR EUR 1,521,435.02 0.60
1,100,000 HSBC HLDGS PLC 4.5% 09-30/04/2014 EUR 1,176,076.00 0.47
500,000 IMP TOBACCO FIN 5% 09-25/06/2012 EUR 523,559.99 0.21
2,000,000 IMP TOBACCO FIN 8.375% 09-17/02/2016 EUR 2,508,939.98 0.99
1,495,000 LEGAL & GENL 05-08/06/2025 SR EUR 1,367,925.00 0.54
1,300,000 LLOYDS TSB BANK 6.25% 09-15/04/2014 EUR 1,421,835.92 0.56
2,810,000 ROYAL BK SCOTLAND 04-22/09/2021 SR EUR 2,542,403.62 1.01
600,000 ROYAL BK SCOTLAND 5.25% 08-15/05/2013 EUR 630,755.99 0.25
730,000 ROYAL BK SCOTLND 5.75% 09-21/05/2014 EUR 782,851.99 0.31
1,150,000 STANDARD CHART 3.625% 10-15/12/2015 EUR 1,187,294.45 0.47
1,500,000 THOMAS COOK GR 6.75% 10-22/06/2015 EUR 1,481,275.50 0.59
900,000 VODAFONE GROUP 3.625% 05-29/11/2012 EUR 932,057.96 0.37
750,000 VODAFONE GROUP 6.875% 08-04/12/2013 EUR 854,692.50 0.34
France
30,613,402.91 12.11
850,000 AXA SA 00-15/12/2020 SR EUR 850,000.00 0.34
1,560,000 AXA SA 06-29/07/2049 SR EUR 1,396,200.00 0.55
300,000 AXA SA 4.5% 09-23/01/2015 EUR 322,371.02 0.13
2,000,000 BPCE 3.75% 10-21/07/2017 EUR 2,062,940.06 0.82
1,700,000 CASINO GUICHARD 5.50% 09-30/01/2015 EUR 1,870,170.03 0.74
1,350,000 CREDIT LOGEMENT 06-29/03/2049 SR EUR 1,128,964.49 0.45
500,000 ELEC DE FRANCE 4.625% 10-26/04/2030 EUR 523,434.98 0.21
600,000 ELEC DE FRANCE 6.25% 09-25/01/2021 EUR 745,218.02 0.30
1,060,000 FRANCE TELECOM 7.25% 03-28/01/2013 EUR 1,186,203.67 0.47
410,000 FRANCE TELECOM 8.125% 03-28/01/2033 EUR 615,053.30 0.24
2,500,000 GALERIES LAFAYET 4.5% 10-28/04/2017 EUR 2,470,800.03 0.98
1,100,000 GDF SUEZ 5.625% 09-18/01/2016 EUR 1,268,465.11 0.50
800,000 GIE SUEZ ALLIANC 5.75% 03-24/06/2023 EUR 946,487.98 0.37
1,000,000 LAFARGE 4.75% 05-23/03/2020 EUR 919,980.01 0.36
375,000 PPR SA 4% 05-29/01/2013 EUR 387,521.21 0.15
735,000 PPR SA 8.625% 09-03/04/2014 EUR 872,217.14 0.35
635,000 PPR 3.75% 10-08/04/2015 EUR 657,866.39 0.26
1,200,000 RCI BANQUE 2.875% 10-23/07/2012 EUR 1,196,844.00 0.47
1,600,000 RCI BANQUE 8.125% 09-15/05/2012 EUR 1,725,040.03 0.68
400,000 SOCIETE GENERALE 07-07/06/2017 FRN EUR 388,567.99 0.15
450,000 ST GOBAIN 4.25% 06-31/05/2011 EUR 455,957.99 0.18
400,000 SUEZ ENVIRON 5.5% 09-22/07/2024 EUR 479,588.04 0.19
1,690,000 VEOLIA ENVRNMT 4% 05-12/02/2016 EUR 1,794,256.08 0.71
450,000 VIVENDI 4.25% 09-01/12/2016 EUR 470,276.95 0.19
Germany
24,734,424.52 9.79
1,200,000 ALLIANZ AG HLDG 04-28/02/2049 SR EUR 1,182,000.00 0.47
1,160,000 BAYER AG 05-29/07/2105 SR EUR 1,136,800.00 0.45
755,000 BAYER AG 6% 02-10/04/2012 EUR 803,433.26 0.32
1,400,000 COMMERZBANK AG 06-13/09/2016 SR EUR 1,333,500.00 0.53
58 ING INVESTMENT MANAGEMENT