ING

For more complete information, or to obtain a prospectus on any ING fund, please call your advisor or ING Funds at 800-992-0180 or log on to www.ingfunds.com. The prospectus should be read carefully before investing. Consider the investment objectives, risks, and charges and expenses carefully before investing. The prospectus contains this information and other information about the funds. Not all funds are available for sale at all firms.

ING Investment Management is the investment arm of ING Group. Their broad scope encompasses Europe, Asia-Pacific and the Americas. They employ an active investment style to identify strong and improving business fundamentals and investment value for their clients. ING IM employs more than 700 investment professionals located worldwide, which puts them in a unique position to offer clients access to investment options on a global scale. This review has been prepared by ING Investment Management for informational purposes. Any opinions expressed herein reflect our judgment and are subject to change. Both ING Investment Management and ING Funds are wholly owned subsidiaries of ING Groep, N.V ING Investment Management acts as the sub-adviser for several ING mutual funds.

Commentary reflects views of ING IM’s specialists and is subject to change based on market and other conditions. It should not be assumed that any security transactions, holdings, or sector discussed were or will be profitable, or that the investment recommendations or decisions we make in the future will be profitable or will equal the investment performance discussed herein.

This material is for informational purposes only. Material should not be considered a recommendation to purchase or sell any particular security. It should not be assumed that any security transactions, holdings, or sectors discussed were or will be profitable or that the investment recommendations or decisions we make in the future will be profitable.

Certain of the statements contained herein are statements of future expectations and other forward-looking statements that are based on management’s current views and assumptions and involve known and unknown risks and uncertainties that could cause actual results, performance or events to differ materially from those expressed or implied in such statements. Actual results, performance or events may differ materially from those in such statements due to, without limitation, (i) general economic conditions, (ii) performance of financial markets, (iii) interest rate levels and (iv) increasing levels of loan defaults.