Semi-annual report and unaudited financial statements (Report dedicated for the Singapore market) for the period ended September 30, 2010 The accompanying notes form an integral part of these financial statements. <strong>ING</strong> INVESTMENT MANAGEMENT <strong>ING</strong> (L) Renta Fund - International (Denominated in EUR) 79 <strong>ING</strong> (L) <strong>RENTA</strong> <strong>FUND</strong> ������������������������������������������������������������������������������������������������������������������������������������ Securities portfolio as at 30/09/2010 Quantity/ Nominal 135,000 DONG A/S 05-29/06/2015 SR EUR 136,012.51 0.11 1,049,832.75 0.82 Canada 2,500,000 ONTARIO PROVINCE 7.75% 05-22/11/2010 ZAR 262,844.87 0.20 70,000,000 QUEBEC PROVINCE 1.6% 01-09/05/2013 JPY 624,742.92 0.49 887,587.79 0.69 Switzerland 243,000 UBS AG JERSEY 04-16/09/2019 SR EUR 254,051.65 0.20 350,000 UBS AG LONDON 3.5% 10-15/07/2015 EUR 359,520.00 0.28 120,000 UBS AG LONDON 6% 08-18/04/2018 EUR 139,798.79 0.11 753,370.44 0.59 Norway 525,000 KOMMUNALBANKEN 6% 04-25/02/2011 AUD 373,065.95 0.29 375,000 STATOIL 6.5% 98-01/12/2028 USD 338,897.60 0.26 711,963.55 0.55 Jersey 204,000 HSBC CAP <strong>FUND</strong><strong>ING</strong> 03-29/10/2049 SR EUR 195,840.00 0.15 235,000 HSBC CAP <strong>FUND</strong><strong>ING</strong> 04-29/12/2049 SR EUR 224,425.00 0.18 420,265.00 0.33 Cayman Islands 170,000 BCP FINANCE CO 05-29/10/2049 SR EUR 119,000.00 0.09 265,000 BES FINANCE LTD 03-29/07/2049 SR EUR 184,175.00 0.14 140,000 HUT WHA INT 0919 5.75% 09-11/09/2019 USD 113,905.36 0.09 417,080.36 0.32 Guernsey 354,000 CRED SUISSE CAP 01-29/11/2049 SR EUR 356,655.03 0.28 356,655.03 0.28 South Africa 2,150,000 REP SOUTH AFRICA 10.5% 98-21/12/2026 ZAR 276,867.29 0.22 276,867.29 0.22 Australia 80,000 BHP FINANCE USA 4.8% 03-15/04/2013 USD 63,714.44 0.05 175,000 TELSTRA CORP LTD 4.75% 07-21/03/2017 EUR 193,312.01 0.15 257,026.45 0.20 Finland 150,000 FORTUM OYJ 4.5% 06-20/06/2016 EUR 164,962.51 0.13 164,962.51 0.13 Hungary 500,000 HUNGARY GOVT 6.75% 06-24/02/2017 HUF 1,817.45 0.00 1,817.45 0.00 113,057,300.18 87.98 Other transferable securities and money market instruments Italy Name Currency Bonds and other debt instruments Market value in EUR % NAV 1,650,000 ITALY BTPS 3.5% 09-01/06/2014 EUR 1,705,258.35 1.33 1,705,258.35 1.33 1,705,258.35 1.33 Total securities portfolio 114,762,558.53 89.31 Financial derivative instruments as at 30/09/2010 Quantity Name Currency Futures on interest rates Commitment in EUR 21 CAN 10YR BOND FUT. 20/12/2010 CAD 1,896,590.38 11,996.14 (17) EURO BUXL 30Y BONDS FUTURE 08/12/2010 EUR 2,030,820.00 (60,520.00) 38 EURO-BOBL FUTURE 08/12/2010 EUR 4,583,180.00 (5,320.00) 22 EURO-BUND FUTURE 08/12/2010 EUR 2,891,460.00 18,040.00 (40) EURO-SCHATZ FUTURE 08/12/2010 EUR 4,363,400.00 16,400.00 12 JPN 10Y BOND (TSE) 09/12/2010 JPY 15,090,382.36 145,902.46 (47) LONG GILT FUTURE (LIFFE) 29/12/2010 GBP 6,744,433.55 39,079.46 (3) ULTRA LONG TERM US TREASURY B FUTURE 21/12/2010 USD 310,462.75 703.88 17 US LONG BOND FUTURE (CBT) 21/12/2010 USD 1,665,117.75 (3,891.37) 3 US 10YR NOTE FUTURE (CBT) 21/12/2010 USD 276,985.52 3,227.55 (13) US 2YR NOTE FUTURE (CBT) 31/12/2010 USD 2,090,021.16 (3,422.13) 35 US 5YR NOTE FUTURE (CBT) 31/12/2010 USD 3,098,704.64 13,032.15 45,041,558.11 Unrealized profit or (loss) in EUR 175,228.14 Quantity Name Currency Total return swaps Notional Market value in EUR 1,100,000 TRS (PERF+) US CMBS FIXE RATE 01/10/2010 USD 1,100,000.00 17,085.16 13,700,000 TRS (PERF-) US MBS FIXE RATE 01/10/2010 USD 13,700,000.00 (40,391.82) (23,306.66) To receive (%) To pay (%) Maturity Date Currency Interest rate swaps Notional Unrealized profit or (loss) in EUR Floating 3.855 27/11/24 USD 15,000,000.00 (1,145,455.61) Floating 4.555 03/02/13 USD 12,000,000.00 (801,853.02) (1,947,308.63) To receive To pay Maturity Commitment Unrealized Date in EUR profit or (loss) in EUR Forward foreign exchange contracts 146,804.00 AUD 103,336.82 EUR 24/01/11 103,336.82 (536.28) 1,188,000.00 BRL 655,629.14 USD 08/11/10 513,640.88 29,610.98 543,609.00 CAD 396,984.69 EUR 25/01/11 396,984.69 (9,287.66) 486,396.00 CHF 367,615.69 EUR 26/01/11 367,615.69 (2,051.19) 300,600,000.00 CLP 600,779.45 USD 18/11/10 455,686.05 13,558.10 847,875,000.00 CLP 1,700,000.00 USD 18/11/10 1,285,312.07 34,260.10 998,000,000.00 CLP 2,000,000.00 USD 18/11/10 1,512,889.81 41,060.54 92,000,000.00 CNY 13,598,001.68 USD 03/11/10 10,071,320.27 147,734.50 1,727,382.49 EUR 6,900,000.00 PLN 01/12/10 1,727,382.49 (39.98) 2,702,645.89 EUR 3,600,000.00 USD 16/11/10 2,702,645.89 64,293.75 2,164,787.14 EUR 1,848,594.00 GBP 27/01/11 2,164,787.14 30,129.86 3,102,989.27 EUR 352,000,000.00 JPY 05/10/10 3,102,989.27 16,445.00
<strong>ING</strong> (L) <strong>RENTA</strong> <strong>FUND</strong> Semi-annual report and unaudited financial statements (Report dedicated for the Singapore market) for the period ended September 30, 2010 ������������������������������������������������������������������������������������������������������������������������������������ Financial derivative instruments as at 30/09/2010 The accompanying notes form an integral part of these financial statements. <strong>ING</strong> (L) Renta Fund - International (Denominated in EUR) To receive To pay Maturity Commitment Unrealized Date in EUR profit or (loss) in EUR 4,446,002.04 EUR 5,620,000.00 USD 08/10/10 4,446,002.04 329,135.07 990,000.00 EUR 1,298,979.00 USD 10/11/10 990,000.00 38,082.95 973,736.47 EUR 9,290,000.00 ZAR 04/02/11 973,736.47 16,035.62 30,162,000.00 INR 656,694.97 USD 08/11/10 491,675.81 9,509.66 352,000,000.00 JPY 3,104,672.44 EUR 15/11/10 3,104,672.44 (16,317.64) 471,000,000.00 JPY 4,397,640.03 EUR 15/11/10 4,397,640.03 (265,210.74) 2,049,825,000.00 KRW 1,763,290.32 USD 22/11/10 1,316,801.80 24,236.42 1,054,718.00 MXN 61,439.46 EUR 28/01/11 61,439.46 (526.11) 622,365.00 MYR 200,510.65 USD 10/11/10 147,675.83 371.68 9,253,560.00 MYR 2,950,000.00 USD 10/11/10 2,195,700.46 28,430.43 6,180,000.00 NOK 775,785.74 EUR 31/01/11 775,785.74 (6,963.50) 1,775,000.00 NZD 969,494.51 EUR 01/02/11 969,494.51 (21,099.99) 6,900,000.00 PLN 1,734,527.32 EUR 04/10/10 1,734,527.32 780.84 6,640,000.00 PLN 1,672,214.27 EUR 02/02/11 1,672,214.27 (18,207.15) 19,879,200.00 RUB 634,439.18 USD 08/11/10 476,344.75 10,159.30 12,200,000.00 SEK 143,781,791.00 JPY 15/11/10 1,327,739.41 65,455.19 153,504,000.00 THB 4,920,000.00 USD 10/11/10 3,704,796.92 100,788.98 22,496,350.00 TWD 713,490.33 USD 04/10/10 527,453.11 5,084.51 22,496,350.00 TWD 718,962.93 USD 29/11/10 527,453.11 3,528.65 1,300,000.00 USD 969,054.37 EUR 16/11/10 969,054.37 (16,327.92) 1,200,000.00 USD 897,580.12 EUR 16/11/10 897,580.12 (18,140.32) 1,700,000.00 USD 21,729,048.10 MXN 07/10/10 1,245,238.79 (23,884.43) 2,972,246.79 USD 251,000,000.00 JPY 03/02/11 2,177,151.18 (24,104.41) 2,346,548.32 USD 1,840,000.00 EUR 16/11/10 1,840,000.00 (120,293.35) 4,219,346.15 USD 28,200,000.00 CNY 03/11/10 3,090,643.24 (7,705.80) 4,287,590.39 USD 132,225,000.00 THB 10/11/10 3,140,631.69 (50,480.62) 595,583.16 USD 465,000.00 EUR 16/11/10 465,000.00 (28,517.06) 5,580,000.00 USD 4,298,060.48 EUR 08/10/10 4,298,060.48 (210,513.73) 715,988.22 USD 22,496,350.00 TWD 04/10/10 524,456.65 (3,253.22) 900,000.00 USD 674,763.33 EUR 16/11/10 674,763.33 (15,183.48) 73,568,324.40 150,047.55 Total financial derivative instruments (1,645,339.60) Summary of net assets % NAV Total securities portfolio 114,762,558.53 89.31 Total financial derivative instruments (1,645,339.60) (1.28) Cash at bank 8,885,009.42 6.91 Other assets and liabilities 6,499,193.78 5.06 Total net assets 128,501,422.13 100.00 80 <strong>ING</strong> INVESTMENT MANAGEMENT
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