NOTES TO FINANCIAL STATEMENTS AS OF AUGUST 31, 2013
(UNAUDITED) (CONTINUED)
NOTE 2 — SIGNIFICANT ACCOUNTING POLICIES
(continued)
With futures, there is minimal counterparty credit risk
to the Fund since futures are exchange traded and the exchange’s clearinghouse, as counterparty to all exchange traded futures, guarantees the
futures against default.
During the period ended August 31, 2013, the Fund had an
average notional value on purchased and sold futures of $77,981,420 and $13,688,018, respectively. Please refer to the Summary Portfolio of Investments
for open futures contracts at August 31, 2013.
I. Options Contracts. The Fund may
purchase put and call options and may write (sell) put options and covered call options. The premium received by the Fund upon the writing of a put or
call option is included in the Statement of Assets and Liabilities as a liability which is subsequently marked-to-market until it is exercised or
closed, or it expires. The Fund will realize a gain or loss upon the expiration or closing of the option contract. When an option is exercised, the
proceeds on sales of the underlying security for a written call option or purchased put option or the purchase cost of the security for a written put
option or a purchased call option is adjusted by the amount of premium received or paid. The risk in writing a call option is that the Fund gives up
the opportunity for profit if the market price of the security increases and the option is exercised. The risk in buying an option is that the Fund
pays a premium whether or not the option is exercised. Risks may also arise from an illiquid secondary market or from the inability of counterparties
to meet the terms of the contract.
The Fund’s option strategy seeks to reduce volatility
of total returns and to supplement distributions by selling call options and may also purchase put options on equity indices.
The Fund is also subject to foreign currency risk given its
significant investments in foreign equities. In order to mitigate this risk, the Fund uses foreign-exchange option collars. Please refer to Note 7 for
the volume of both purchased and written option activity during the period ended August 31, 2013.
J. Indemnifications. In the normal course of
business, the Fund may enter into contracts that provide certain indemnifications. The Fund’s maximum exposure under these arrangements is
dependent on future claims that may be made against the Fund and, therefore, cannot be estimated; however, based on experience, management considers
risk of loss from such claims remote.
NOTE 3 — INVESTMENT MANAGEMENT AND ADMINISTRATIVE
FEES
ING Investments, LLC (“ING Investments” or the
“Investment Adviser”), an Arizona limited liability company, is the Investment Adviser of the Fund. The Fund pays the Investment Adviser for
its services under an investment management agreement (“Management Agreement”), a fee, payable monthly, based on an annual rate of 1.05% of
the Fund’s average daily managed assets. For the first five years of the Fund’s existence, the Investment Adviser will contractually waive a
portion of its fee equivalent to 0.20% of the Fund’s managed assets. Beginning in the sixth year, the fee waiver will decline each year by 0.05%
until it is eliminated in the ninth year. The management fee waiver expired on April 1, 2013. For purposes of the Management Agreement, managed assets
are defined as the Fund’s average daily gross asset value, minus the sum of the Fund’s accrued and unpaid dividends on any outstanding
preferred shares and accrued liabilities (other than liabilities for the principal amount of any borrowings incurred, commercial paper or notes issued
by the Fund and the liquidation preference of any outstanding preferred shares). As of August 31, 2013, there were no preferred shares
outstanding.
The Investment Adviser entered into a sub-advisory
agreement (“Sub-Advisory Agreement”) with ING Investment Management Advisors B.V. (“IIMA”), a subsidiary of ING Groep N.V.,
domiciled in The Hague, The Netherlands. Subject to policies as the Board or the Investment Adviser might determine, IIMA manages the Fund’s
assets in accordance with the Fund’s investment objectives, policies and limitations.
Effective, July 5, 2013, the Investment Adviser entered
into a sub-advisory agreement (“Sub-Advisory Agreement”) with ING Investment Management Co. LLC (“ING IM”), a Delaware limited
liability company. Subject to policies as the Board or the Investment Adviser might determine, ING IM will manage the Fund’s assets in accordance
with the Fund’s investment objectives, policies and limitations.
The Investment Adviser has also retained ING Investment
Management Co. LLC (“ING IM” or “Consultant”), a Delaware limited liability company, to provide certain consulting services for the
Investment Adviser. These services include, among other things, furnishing statistical and other factual information; providing advice with respect to
potential investment strategies that may be employed for the Fund, including, but not limited to, potential options
15
NOTES TO FINANCIAL STATEMENTS AS OF AUGUST 31, 2013
(UNAUDITED) (CONTINUED)
NOTE 3 — INVESTMENT MANAGEMENT AND ADMINISTRATIVE FEES
(continued)
strategies; developing economic models of the anticipated investment performance and yield for the Fund; and providing advice to the
Investment Adviser and/or Sub-Adviser with respect to the Fund’s level and/or managed distribution policy. For its services, the Consultant will
receive a consultancy fee from the Investment Adviser. No fee will be paid by the Fund directly to the Consultant.
ING Funds Services, LLC (the “Administrator”), a
Delaware limited liability company, serves as Administrator to the Fund. The Fund pays the Administrator for its services a fee based on an annual rate
of 0.10% of the Fund’s average daily managed assets.
NOTE 4 — EXPENSE LIMITATION
AGREEMENT
The Investment Adviser has entered into a written expense
limitation agreement (“Expense Limitation Agreement”) with the Fund under which it will limit the expenses of the Fund, excluding interest,
taxes, leverage expenses, and extraordinary expenses (and acquired fund fees and expenses) to 1.20% of average daily managed assets. The Investment
Adviser may at a later date recoup from the Fund fees waived and other expenses assumed by the Investment Adviser during the previous 36 months, but
only if, after such recoupment, the Fund’s expense ratio does not exceed the percentage described above. The Expense Limitation Agreement is
contractual through March 1, 2014 and shall renew automatically for one-year terms unless: (i) ING Investments provides 90 days written notice of its
termination; and (ii) such termination is approved by the Board; or (iii) the Investment Management Agreement has been terminated.
Waived and reimbursed fees and any recoupment by the
Investment Adviser of such waived and reimbursed fees are reflected on the accompanying Statement of Operations for the Fund.
As of August 31, 2013, the amounts of waived or reimbursed
fees that are subject to possible recoupment by the Investment Adviser, and the related expiration dates, are as follows:
August 31,
|
|
|
|
2014
|
|
|
|
2015
|
|
2016
|
|
Total
|
|
|
|
|
|
|
|
|
|
NOTE 5 — OTHER TRANSACTIONS WITH AFFILIATES AND RELATED
PARTIES
The Fund has adopted a Deferred Compensation Plan (the
“Plan”), which allows eligible non-affiliated trustees as described in the Plan to defer the receipt of all or a portion of the trustees fees
payable. Amounts deferred are treated as though invested in various “notional” funds advised by ING Investments until distribution in
accordance with the Plan.
NOTE 6 — PURCHASES AND SALES OF INVESTMENT
SECURITIES
The cost of purchases and proceeds from sales of
investments for the period ended August 31, 2013, excluding short-term securities, were $191,311,275 and $265,524,076, respectively.
NOTE 7 — PURCHASED AND WRITTEN
OPTIONS
Transactions in purchased OTC put options on foreign
currencies were as follows:
|
|
|
|
USD
NOTIONAL
|
|
Cost
|
|
|
|
|
$ |
212,200,000 |
|
|
$ |
1,063,580 |
|
|
|
|
|
|
390,500,000 |
|
|
|
2,447,215 |
|
|
|
|
|
|
(277,300,000 |
) |
|
|
(1,562,070 |
) |
|
|
|
|
|
— |
|
|
|
— |
|
Options Terminated in Closing Sell Transactions |
|
|
|
|
(88,400,000 |
) |
|
|
(484,550 |
) |
|
|
|
|
$ |
237,000,000 |
|
|
$ |
1,464,175 |
|
Transactions in written OTC call options on foreign
currencies were as follows:
|
|
|
|
USD
NOTIONAL
|
|
Premiums
Received
|
|
|
|
|
$ |
212,200,000 |
|
|
$ |
1,063,580 |
|
|
|
|
|
|
433,000,000 |
|
|
|
2,608,715 |
|
|
|
|
|
|
(340,200,000 |
) |
|
|
(1,817,120 |
) |
|
|
|
|
|
— |
|
|
|
— |
|
Options Terminated in Closing Purchase Transactions |
|
|
|
|
(68,000,000 |
) |
|
|
(391,000 |
) |
|
|
|
|
$ |
237,000,000 |
|
|
$ |
1,464,175 |
|
Transactions in written OTC call options on indices were as
follows:
|
|
|
|
Number of
Contracts
|
|
Premiums
Received
|
|
|
|
|
|
654,800 |
|
|
$ |
9,871,846 |
|
|
|
|
|
|
2,664,500 |
|
|
|
48,149,932 |
|
|
|
|
|
|
(609,900 |
) |
|
|
(10,769,657 |
) |
|
|
|
|
|
— |
|
|
|
— |
|
Options Terminated in Closing Purchase Transactions |
|
|
|
|
(2,007,200 |
) |
|
|
(35,038,784 |
) |
|
|
|
|
|
702,200 |
|
|
$ |
12,213,337 |
|
16
NOTES TO FINANCIAL STATEMENTS AS OF AUGUST 31, 2013
(UNAUDITED) (CONTINUED)
NOTE 8 — CONCENTRATION OF INVESTMENT
RISKS
All mutual funds involve risk — some more than others
— and there is always the chance that you could lose money or not earn as much as you hope. The Fund’s risk profile is largely a factor of
the principal securities in which it invests and investment techniques that it uses. For more information regarding the types of securities and
investment techniques that may be used by the Fund and its corresponding risks, see the Fund’s Prospectus and/or the Statement of Additional
Information.
Foreign Securities and Emerging Markets. The
Fund makes significant investments in foreign securities and may invest up to 20% of its managed assets in securities issued by companies located in
countries with emerging markets. Investments in foreign securities may entail risks not present in domestic investments. Since investments in
securities are denominated in foreign currencies, changes in the relationship of these foreign currencies to the U.S. dollar can significantly affect
the value of the investments and earnings of the Fund. Foreign investments may also subject the Fund to foreign government exchange restrictions,
expropriation, taxation or other political, social or economic developments, as well as from movements in currency, security value and interest rate,
all of which could affect the market and/or credit risk of the investments. The risks of investing in foreign securities can be intensified in the case
of investments in issuers located in countries with emerging markets.
Leverage. Although the Fund has no current
intention to do so, the Fund is authorized to utilize leverage through the issuance of preferred shares and/or borrowings, including the issuance of
debt securities. In the event that the Fund determines in the future to utilize investment leverage, there can be no assurance that such a leveraging
strategy will be successful during any period in which it is employed.
NOTE 9 — CAPITAL SHARES
There was no capital shares activity during the six months
ended August 31, 2013 and during the year ended February 28, 2013.
NOTE 10 — FEDERAL INCOME TAXES
The amount of distributions from net investment income and
net realized capital gains are determined in accordance with federal income tax regulations, which may differ from U.S. generally accepted accounting
principles for investment companies. These book/tax differences may be either temporary or permanent. Permanent differences are reclassified within the
capital accounts based on their federal tax-basis treatment; temporary differences are not reclassified. Key differences include the treatment of
short-term capital gains, foreign currency transactions, and wash sale deferrals. Distributions in excess of net investment income and/or net realized
capital gains for tax purposes are reported as return of capital.
Dividends paid by the Fund from net investment income and
distributions of net realized short-term capital gains are, for federal income tax purposes, taxable as ordinary income to
shareholders.
The tax composition of dividends and distributions in the
current period will not be determined until after the Fund’s tax year-end of December 31, 2013. The tax composition of dividends and distributions
as of the Fund’s most recent tax year-end was as follows:
Tax Year Ended
December 31, 2012
|
|
Ordinary
Income
|
|
|
|
Return
of Capital
|
|
|
|
|
|
The tax-basis components of distributable earnings and the
capital loss carryforwards which may be used to offset future realized capital gains for federal income tax purposes as of December 31, 2012 are
detailed below. The Regulated Investment Company Modernization Act of 2010 (the “Act”) provides an unlimited carryforward period for newly
generated capital losses. Under the Act, there may be a greater likelihood that all or a portion of the Fund’s pre-enactment capital loss
carryforwards may expire without being utilized due to the fact that post-enactment capital losses are required to be utilized before pre-enactment
capital loss carryforwards.
|
|
|
|
Capital Loss Carryforwards
|
|
Unrealized
Appreciation/
(Depreciation)
|
|
|
|
Amount
|
|
Character
|
|
Expiration
|
$45,082,755 |
|
|
|
$ |
(106,960,018 |
) |
|
|
Short-term |
|
|
|
2016 |
|
|
|
|
|
|
(325,327,424 |
) |
|
|
Short-term |
|
|
|
2017 |
|
|
|
|
|
|
(2,533,709 |
) |
|
|
Short-term |
|
|
|
None |
|
|
|
|
|
$ |
(434,821,151 |
) |
|
|
|
|
|
|
|
|
The Fund’s major tax jurisdictions are U.S. federal
and Arizona. The earliest tax year that remains subject to examination by these jurisdictions is 2008.
As of August 31, 2013, no provision for income tax is
required in the Fund’s financial statements as a result of tax positions taken on federal and state income tax returns for open tax years. The
Fund’s federal and state income and federal excise tax returns for tax years for which the applicable statutes of limitations have
not
17
NOTES TO FINANCIAL STATEMENTS AS OF AUGUST 31, 2013
(UNAUDITED) (CONTINUED)
NOTE 10 — FEDERAL INCOME TAXES
(continued)
expired are subject to examination by the Internal
Revenue Service and state department of revenue.
NOTE 11 — RESTRUCTURING PLAN
The Investment Adviser, ING IM, and the Administrator, are
indirect, wholly-owned subsidiaries of ING U.S., Inc. ING U.S. is a U.S.-based financial institution whose subsidiaries operate in the retirement,
investment, and insurance industries. ING U.S. is a majority-owned subsidiary of ING Groep N.V. (“ING Groep”), which is a global financial
institution of Dutch origin, with operations in more than 40 countries.
In October 2009, ING Groep submitted a restructuring plan
(the “Restructuring Plan”) to the European Commission in order to receive approval for state aid granted to ING Groep by the Kingdom of the
Netherlands in November 2008 and March 2009. To receive approval for this state aid, ING Groep was required to divest its insurance and investment
management businesses, including ING U.S., before the end of 2013. In November 2012, the Restructuring Plan was amended to permit ING Groep additional
time to complete the divestment. Pursuant to the amended Restructuring Plan, ING Groep must divest at least 25% of ING U.S. by the end of 2013, more
than 50% by the end of 2014, and the remaining interest by the end of 2016 (such divestment, the “Separation Plan”).
In May 2013, ING U.S. conducted an initial public offering
of ING U.S. common stock (the “IPO”).
On September 13, 2013, ING U.S. filed a new Registration
Statement on Form S-1 with the U.S. Securities and Exchange Commission (the “SEC”) in connection with another potential public offering of
ING U.S. common stock held by ING Groep. ING U.S. will not issue or sell common stock in the offering. On October 23, 2013, ING U.S. announced the
pricing of 33 million shares of its common stock being offered by ING Groep in this offering. Closing of the offering is expected to occur on October
29, 2013. ING Groep also granted the underwriters in the offering an option exercisable within 30 days, to acquire up to approximately an additional 5
million shares from ING Groep. This option was exercised in full. ING U.S. will not receive any proceeds from the offering.
ING Groep continues to own a majority of the common stock
of ING U.S. ING Groep has stated that it intends to sell its remaining controlling ownership interest in ING U.S. over time. While the base case for
the remainder of the Separation Plan is the divestment of ING Groep’s remaining interest in one or more broadly distributed offerings, all options
remain open and it is possible that ING Groep’s divestment of its remaining interest in ING U.S. may take place by means of a sale to a single
buyer or group of buyers.
It is anticipated that one or more of the transactions
contemplated by the Separation Plan would result in the automatic termination of the existing advisory and sub-advisory agreements under which the
Adviser and sub-adviser provide services to the Fund. In order to ensure that the existing investment advisory and sub-advisory services can continue
uninterrupted, the Board approved new advisory and sub-advisory agreements for the Fund in connection with the IPO. In addition, shareholders of the
Fund were asked to approve new investment advisory and sub-advisory agreements prompted by the IPO, as well as any future advisory and sub-advisory
agreements prompted by the Separation Plan that are approved by the Board and whose terms are not be materially different from the current agreements.
Shareholders of the Fund approved new advisory and sub-advisory agreements on July 5, 2013. This means that shareholders may not have another
opportunity to vote on a new agreement with the Adviser or an affiliated sub-adviser even if they undergo a change of control, as long as no single
person or group of persons acting together gains “control” (as defined in the 1940 Act) of ING U.S.
The Separation Plan, whether implemented through public
offerings or other means, may be disruptive to the businesses of ING U.S. and its subsidiaries, including the Adviser and affiliated entities that
provide services to the Fund, and may cause, among other things, interruption of business operations or services, diversion of management’s
attention from day-to-day operations, reduced access to capital, and loss of key employees or customers. The completion of the Separation Plan is
expected to result in the Adviser’s and affiliated entities’ loss of access to the resources of ING Groep, which could adversely affect its
business. It is anticipated that ING U.S., as a stand-alone entity, may be a publicly held U.S. company subject to the reporting requirements of the
Securities Exchange Act of 1934 as well as other U.S. government and state regulations, and subject to the risk of changing
regulation.
The Separation Plan may be implemented in phases. During
the time that ING Groep retains a majority interest in ING U.S., circumstances affecting ING Groep, including restrictions or requirements imposed on
ING Groep by European and other authorities, may also affect ING U.S. A failure to complete the Separation Plan could create uncertainty about the
nature of the relationship between ING U.S. and ING Groep, and
18
NOTES TO FINANCIAL STATEMENTS AS OF AUGUST 31, 2013
(UNAUDITED) (CONTINUED)
NOTE 11 — RESTRUCTURING PLAN
(continued)
could adversely affect ING U.S. and the Adviser and its
affiliates. Currently, the Adviser and its affiliates do not anticipate that the Separation Plan will have a material adverse impact on their
operations or the Fund and its operation.
Shareholder Proxy Proposals
At a meeting of the Board on January 10, 2013, the Board
nominated to Class II of the Board five individuals (collectively, the “Nominees”) for election as Trustees of the Trust. The Nominees
include John V. Boyer, Patricia W. Chadwick, and Sheryl K. Pressler, each of whom was a current member of the Board. In addition, the Board nominated
to Class II of the Board Albert E. DePrince Jr. and Martin J. Gavin and appointed to Class I of the Board Joseph E. Obermeyer and Russell H. Jones,
each of whom was not a member of the Board at the time, but who served as a director or trustee to other investment companies in the ING Funds complex.
The Nominees were approved by shareholders on May 6, 2013. The election of the Nominees was effective on May 21, 2013. The appointment of Messrs.
Obermeyer and Jones was effective May 21, 2013. These nominations and appointments were, in part, the result of an effort on the part of the Board,
another board in the ING Funds complex, and the Investment Adviser to the Fund to consolidate the membership of the boards so that the same members
serve on each board in the ING Funds complex. The result is that all ING Funds are now governed by Boards that are compromised of the same
individuals.
NOTE 12 — SUBSEQUENT EVENTS
Dividends: Subsequent to August 31, 2013, the Fund
made distributions of:
Per Share
Amount
|
|
|
Declaration
Date
|
|
|
Payable
Date
|
|
|
Record
Date
|
$0.084 |
|
|
8/15/2013 |
|
|
9/16/2013 |
|
|
9/5/2013 |
$0.076 |
|
|
9/16/2013 |
|
|
10/15/2013 |
|
|
10/3/2013 |
Each month, the Fund will provide disclosures with
distribution payments made that estimate the percentages of that distribution that represent net investment income, capital gains, and return of
capital, if any. A significant portion of the monthly distribution payments made by the Fund may constitute a return of capital.
The Fund was granted exemptive relief by the SEC (the
“Order”), which under the 1940 Act, would permit the Fund, subject to Board approval, to include realized long-term capital gains as a part
of its regular distributions to Common Shareholders more frequently than would otherwise be permitted by the 1940 Act (generally once per taxable year)
(“Managed Distribution Policy”). The Fund may in the future adopt a Managed Distribution Policy.
Effective close of business September 12, 2013, Mr. Gavin
resigned as Trustee.
The Fund has evaluated events occurring after the Statement
of Assets and Liabilities date (subsequent events) to determine whether any subsequent events necessitated adjustment to or disclosure in the financial
statements. Other than the above, no such subsequent events were identified.
19
ING GLOBAL EQUITY DIVIDEND AND
PREMIUM OPPORTUNITY FUND
SUMMARY PORTFOLIO OF INVESTMENTS
AS OF AUGUST 31, 2013 (UNAUDITED)
Shares
|
|
|
|
|
|
|
|
Value
|
|
Percentage
of Net Assets
|
|
|
|
|
|
|
|
|
|
|
|
$ |
11,056,569 |
|
|
|
1.2 |
|
|
|
|
|
|
|
|
|
|
|
|
|
3,984,127 |
|
|
|
0.4 |
|
|
|
|
|
|
|
|
|
|
Canadian Imperial Bank of Commerce |
|
|
10,099,869 |
|
|
|
1.1 |
|
|
|
|
|
|
|
|
|
|
9,238,266 |
|
|
|
1.0 |
|
|
|
|
|
|
|
Shaw Communications, Inc. — Class B |
|
|
10,408,475 |
|
|
|
1.1 |
|
|
|
|
|
|
|
|
|
|
9,350,725 |
|
|
|
1.0 |
|
|
|
|
|
|
|
|
|
|
13,660,372 |
|
|
|
1.4 |
|
|
|
|
|
|
|
|
|
|
52,757,707 |
|
|
|
5.6 |
|
|
|
|
|
|
|
|
|
|
BOC Hong Kong Holdings Ltd. |
|
|
9,339,601 |
|
|
|
1.0 |
|
|
|
|
|
|
|
|
|
|
5,073,018 |
|
|
|
0.5 |
|
|
|
|
|
|
|
|
|
|
14,412,619 |
|
|
|
1.5 |
|
|
|
|
|
|
|
|
|
|
|
|
|
9,219,103 |
|
|
|
1.0 |
|
|
|
|
|
|
|
|
|
|
9,430,193 |
|
|
|
1.0 |
|
|
|
|
|
|
|
|
|
|
9,343,468 |
|
|
|
1.0 |
|
|
|
|
|
|
|
|
|
|
9,460,892 |
|
|
|
1.0 |
|
|
|
|
|
|
|
|
|
|
10,373,527 |
|
|
|
1.1 |
|
|
|
|
|
|
|
|
|
|
9,678,603 |
|
|
|
1.0 |
|
|
|
|
|
|
|
|
|
|
8,761,756 |
|
|
|
0.9 |
|
|
|
|
|
|
|
|
|
|
66,267,542 |
|
|
|
7.0 |
|
|
|
|
|
|
|
|
|
|
|
|
|
10,119,226 |
|
|
|
1.1 |
|
|
|
|
|
|
|
|
|
|
9,225,471 |
|
|
|
1.0 |
|
|
|
|
|
|
|
|
|
|
9,569,101 |
|
|
|
1.0 |
|
|
|
|
|
|
|
|
|
|
9,190,203 |
|
|
|
1.0 |
|
|
|
|
|
|
|
|
|
|
9,185,756 |
|
|
|
1.0 |
|
|
|
|
|
|
|
|
|
|
9,745,335 |
|
|
|
1.0 |
|
|
|
|
|
|
|
|
|
|
8,824,850 |
|
|
|
0.9 |
|
|
|
|
|
|
|
|
|
|
65,859,942 |
|
|
|
7.0 |
|
|
|
|
|
|
|
|
|
|
|
|
|
4,783,121 |
|
|
|
0.5 |
|
|
|
|
|
|
|
|
|
|
|
|
|
5,932,688 |
|
|
|
0.6 |
|
|
|
|
|
|
|
|
|
|
|
|
|
9,634,705 |
|
|
|
1.0 |
|
|
|
|
|
|
|
|
|
|
9,019,466 |
|
|
|
1.0 |
|
|
|
|
|
|
|
|
|
|
4,920,849 |
|
|
|
0.5 |
|
|
|
|
|
|
|
|
|
|
23,575,020 |
|
|
|
2.5 |
|
|
COMMON STOCK: (continued) |
|
|
|
|
|
|
|
|
Mitsubishi UFJ Financial Group, Inc. |
|
$ |
9,414,238 |
|
|
|
1.0 |
|
|
|
|
|
|
|
|
|
|
10,476,756 |
|
|
|
1.1 |
|
|
|
|
|
|
|
Takeda Pharmaceutical Co., Ltd. |
|
|
9,883,626 |
|
|
|
1.1 |
|
|
|
|
|
|
|
|
|
|
48,356,227 |
|
|
|
5.1 |
|
|
|
|
|
|
|
|
|
|
78,130,847 |
|
|
|
8.3 |
|
|
|
|
|
|
|
|
|
|
|
|
|
9,716,546 |
|
|
|
1.0 |
|
|
|
|
|
|
|
|
|
|
|
|
|
14,248,215 |
|
|
|
1.5 |
|
|
|
|
|
|
|
|
|
|
15,153,730 |
|
|
|
1.6 |
|
|
|
|
|
|
|
|
|
|
29,401,945 |
|
|
|
3.1 |
|
|
|
|
|
|
|
|
|
|
United Overseas Bank Ltd. |
|
|
9,096,097 |
|
|
|
1.0 |
|
|
|
|
|
|
|
|
|
|
8,792,116 |
|
|
|
0.9 |
|
|
|
|
|
|
|
|
|
|
17,888,213 |
|
|
|
1.9 |
|
|
|
|
|
|
|
|
|
|
|
|
|
9,383,200 |
|
|
|
1.0 |
|
|
|
|
|
|
|
|
|
|
7,203,347 |
|
|
|
0.8 |
|
|
|
|
|
|
|
|
|
|
16,586,547 |
|
|
|
1.8 |
|
|
|
|
|
|
|
|
|
|
|
|
|
9,465,362 |
|
|
|
1.0 |
|
|
|
|
|
|
|
|
|
|
14,826,303 |
|
|
|
1.6 |
|
|
|
|
|
|
|
Roche Holding AG — Genusschein |
|
|
9,944,934 |
|
|
|
1.0 |
|
|
|
|
|
|
|
Zurich Insurance Group AG |
|
|
9,145,608 |
|
|
|
1.0 |
|
|
|
|
|
|
|
|
|
|
43,382,207 |
|
|
|
4.6 |
|
|
|
|
|
|
|
|
|
|
|
|
|
13,341,530 |
|
|
|
1.4 |
|
|
|
|
|
|
|
|
|
|
|
|
|
9,397,935 |
|
|
|
1.0 |
|
|
|
|
|
|
|
|
|
|
9,128,093 |
|
|
|
1.0 |
|
|
|
|
|
|
|
|
|
|
10,228,895 |
|
|
|
1.1 |
|
|
|
|
|
|
|
|
|
|
9,930,587 |
|
|
|
1.0 |
|
|
|
|
|
|
|
|
|
|
9,996,509 |
|
|
|
1.1 |
|
|
|
|
|
|
|
|
|
|
31,864,660 |
|
|
|
3.3 |
|
|
|
|
|
|
|
|
|
|
80,546,679 |
|
|
|
8.5 |
|
|
|
|
|
|
|
|
|
|
|
|
|
9,530,664 |
|
|
|
1.0 |
|
|
|
|
|
|
|
|
|
|
9,630,950 |
|
|
|
1.0 |
|
|
|
|
|
|
|
|
|
|
10,578,726 |
|
|
|
1.1 |
|
|
|
|
|
|
|
|
|
|
9,374,893 |
|
|
|
1.0 |
|
|
|
|
|
|
|
|
|
|
9,558,047 |
|
|
|
1.0 |
|
|
|
|
|
|
|
|
|
|
9,338,172 |
|
|
|
1.0 |
|
|
|
|
|
|
|
|
|
|
10,542,424 |
|
|
|
1.1 |
|
|
|
|
|
|
|
|
|
|
14,331,502 |
|
|
|
1.5 |
|
|
|
|
|
|
|
|
|
|
14,093,772 |
|
|
|
1.5 |
|
See Accompanying Notes to Financial
Statements
20
ING GLOBAL EQUITY DIVIDEND AND
PREMIUM OPPORTUNITY FUND
SUMMARY PORTFOLIO OF INVESTMENTS
AS OF AUGUST 31, 2013 (UNAUDITED) (CONTINUED)
Shares
|
|
|
|
|
|
|
|
Value
|
|
Percentage
of Net Assets
|
COMMON STOCK: (continued) |
|
United States: (continued)
|
|
|
|
|
|
|
Freeport-McMoRan Copper & Gold, Inc. |
|
$ |
14,339,269 |
|
|
|
1.5 |
|
|
|
|
|
|
|
|
|
|
14,316,487 |
|
|
|
1.5 |
|
|
|
|
|
|
|
|
|
|
9,124,960 |
|
|
|
1.0 |
|
|
|
|
|
|
|
|
|
|
9,652,885 |
|
|
|
1.0 |
|
|
|
|
|
|
|
|
|
|
9,341,640 |
|
|
|
1.0 |
|
|
|
|
|
|
|
|
|
|
13,406,139 |
|
|
|
1.4 |
|
|
|
|
|
|
|
|
|
|
13,973,024 |
|
|
|
1.5 |
|
|
|
|
|
|
|
|
|
|
9,267,414 |
|
|
|
1.0 |
|
|
|
|
|
|
|
Occidental Petroleum Corp. |
|
|
9,132,470 |
|
|
|
1.0 |
|
|
|
|
|
|
|
|
|
|
14,929,268 |
|
|
|
1.6 |
|
|
|
|
|
|
|
PNC Financial Services Group, Inc. |
|
|
9,920,792 |
|
|
|
1.1 |
|
|
|
|
|
|
|
|
|
|
10,087,375 |
|
|
|
1.1 |
|
|
|
|
|
|
|
|
|
|
9,824,422 |
|
|
|
1.0 |
|
|
|
|
|
|
|
Public Service Enterprise Group, Inc. |
|
|
9,588,215 |
|
|
|
1.0 |
|
|
|
|
|
|
|
|
|
|
9,356,651 |
|
|
|
1.0 |
|
|
|
|
|
|
|
|
|
|
9,567,690 |
|
|
|
1.0 |
|
|
|
|
|
|
|
|
|
|
10,069,618 |
|
|
|
1.1 |
|
|
|
|
|
|
|
|
|
|
9,788,649 |
|
|
|
1.0 |
|
|
|
|
|
|
|
|
|
|
9,913,261 |
|
|
|
1.1 |
|
|
|
|
|
|
|
|
|
|
72,753,885 |
|
|
|
7.6 |
|
|
|
|
|
|
|
|
|
|
375,333,264 |
|
|
|
39.7 |
|
|
|
|
|
|
|
Total Common Stock
(Cost $848,786,400) |
|
|
912,957,113 |
|
|
|
96.6 |
|
| |
|
|
# of
Contracts
|
|
|
|
|
|
|
|
Value
|
|
Percentage
of Net
Assets
|
|
|
Options on Currencies: 0.1%
|
|
|
|
|
|
|
Put EUR/USD, Strike @ 1.295, Exp. 11/20/13 Counterparty: JPMorgan Chase & Co. |
|
|
142,283 |
|
|
|
0.0 |
|
|
|
|
|
|
|
Put EUR/USD, Strike @ 1.272, Exp. 10/21/13 Counterparty: JPMorgan Chase & Co. |
|
|
40,418 |
|
|
|
0.0 |
|
|
|
|
|
|
|
Put EUR/USD, Strike @ 1.265, Exp. 09/20/13 Counterparty: JPMorgan Chase & Co. |
|
|
5,239 |
|
|
|
0.0 |
|
|
|
|
|
|
|
Put GBP/USD, Strike @ 1.486, Exp. 09/20/13 Counterparty: JPMorgan Chase & Co. |
|
|
15,562 |
|
|
|
0.0 |
|
|
|
|
|
|
|
Put GBP/USD, Strike @ 1.511, Exp. 11/20/13 Counterparty: JPMorgan Chase & Co. |
|
|
291,875 |
|
|
|
0.1 |
|
|
|
|
|
|
|
Put GBP/USD, Strike @ 1.477, Exp. 10/21/13 Counterparty: JPMorgan Chase & Co. |
|
|
73,912 |
|
|
|
0.0 |
|
PURCHASED OPTIONS: (continued) |
|
Options on Currencies: (continued)
|
|
|
|
|
|
|
Put JPY/USD, Strike @ 105.200, Exp. 10/21/13 Counterparty: Goldman Sachs & Co. |
|
$ |
43,325 |
|
|
|
0.0 |
|
|
|
|
|
|
|
Put JPY/USD, Strike @ 104.930, Exp. 09/20/13 Counterparty: Goldman Sachs & Co. |
|
|
10,223 |
|
|
|
0.0 |
|
|
|
|
|
|
|
Put JPY/USD, Strike @ 102.600, Exp. 11/20/13 Counterparty: Goldman Sachs &
Co. |
|
|
152,348 |
|
|
|
0.0 |
|
|
|
|
|
|
|
|
|
|
775,185 |
|
|
|
0.1 |
|
| |
|
|
|
|
|
|
Total Purchased Options
(Cost $1,464,175) |
|
|
775,185 |
|
|
|
0.1 |
|
| |
|
|
|
|
|
|
Total Investments in Securities
(Cost $850,250,575) |
|
$ |
913,732,298 |
|
|
|
96.7 |
|
|
|
|
|
|
|
Assets in Excess of Other Liabilities |
|
|
31,209,687 |
|
|
|
3.3 |
|
|
|
|
|
|
|
|
|
$ |
944,941,985 |
|
|
|
100.0 |
|
“Other Securities” represents issues not
identified as the top 50 holdings in terms of market value and issues or issuers not exceeding 1% of net assets individually or in aggregate
respectively as of August 31, 2013.
The following footnotes apply to either the individual
securities noted or one or more of the securities aggregated and listed as a single line item.
@ |
|
Non-income producing security |
|
|
Cost for federal income tax purposes is
$850,432,604. |
|
|
|
|
|
|
|
Net unrealized appreciation consists of: |
|
|
|
|
|
|
Gross Unrealized Appreciation |
|
|
|
$ |
100,486,256 |
|
Gross Unrealized Depreciation |
|
|
|
|
(37,186,562 |
) |
Net Unrealized Appreciation |
|
|
|
$ |
63,299,694 |
|
Sector Diversification
|
|
|
|
Percentage
of Net Assets
|
|
|
|
|
|
18.2 |
% |
|
|
|
|
|
13.2 |
|
|
|
|
|
|
11.1 |
|
|
|
|
|
|
10.7 |
|
|
|
|
|
|
10.2 |
|
|
|
|
|
|
9.3 |
|
|
|
|
|
|
7.2 |
|
|
|
|
|
|
7.2 |
|
|
|
|
|
|
4.8 |
|
Telecommunication Services |
|
|
|
|
4.7 |
|
|
|
|
|
|
0.1 |
|
Assets in Excess of Other Liabilities |
|
|
|
|
3.3 |
|
|
|
|
|
|
100.0 |
% |
See Accompanying Notes to Financial
Statements
21
ING GLOBAL EQUITY DIVIDEND AND
PREMIUM OPPORTUNITY FUND
SUMMARY PORTFOLIO OF INVESTMENTS
AS OF AUGUST 31, 2013 (UNAUDITED) (CONTINUED)
Fair Value Measurementsˆ
The following is a summary of the fair valuations according
to the inputs used as of August 31, 2013 in valuing the assets and liabilities:
|
|
|
|
Quoted Prices
in Active Markets
for
Identical
Investments
(Level 1)
|
|
Significant
Other
Observable
Inputs#
(Level 2)
|
|
Significant
Unobservable
Inputs
(Level 3)
|
|
Fair Value
at
August 31, 2013
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Investments, at fair value |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
$ |
— |
|
|
$ |
11,056,569 |
|
|
$ |
— |
|
|
$ |
11,056,569 |
|
|
|
|
|
|
3,984,127 |
|
|
|
— |
|
|
|
— |
|
|
|
3,984,127 |
|
|
|
|
|
|
52,757,707 |
|
|
|
— |
|
|
|
— |
|
|
|
52,757,707 |
|
|
|
|
|
|
5,073,018 |
|
|
|
9,339,601 |
|
|
|
— |
|
|
|
14,412,619 |
|
|
|
|
|
|
— |
|
|
|
66,267,542 |
|
|
|
— |
|
|
|
66,267,542 |
|
|
|
|
|
|
— |
|
|
|
65,859,942 |
|
|
|
— |
|
|
|
65,859,942 |
|
|
|
|
|
|
— |
|
|
|
4,783,121 |
|
|
|
— |
|
|
|
4,783,121 |
|
|
|
|
|
|
— |
|
|
|
5,932,688 |
|
|
|
— |
|
|
|
5,932,688 |
|
|
|
|
|
|
— |
|
|
|
23,575,020 |
|
|
|
— |
|
|
|
23,575,020 |
|
|
|
|
|
|
— |
|
|
|
78,130,847 |
|
|
|
— |
|
|
|
78,130,847 |
|
|
|
|
|
|
— |
|
|
|
9,716,546 |
|
|
|
— |
|
|
|
9,716,546 |
|
|
|
|
|
|
— |
|
|
|
29,401,945 |
|
|
|
— |
|
|
|
29,401,945 |
|
|
|
|
|
|
— |
|
|
|
17,888,213 |
|
|
|
— |
|
|
|
17,888,213 |
|
|
|
|
|
|
— |
|
|
|
16,586,547 |
|
|
|
— |
|
|
|
16,586,547 |
|
|
|
|
|
|
— |
|
|
|
43,382,207 |
|
|
|
— |
|
|
|
43,382,207 |
|
|
|
|
|
|
8,532,507 |
|
|
|
4,809,023 |
|
|
|
— |
|
|
|
13,341,530 |
|
|
|
|
|
|
8,948,660 |
|
|
|
71,598,019 |
|
|
|
— |
|
|
|
80,546,679 |
|
|
|
|
|
|
375,333,264 |
|
|
|
— |
|
|
|
— |
|
|
|
375,333,264 |
|
|
|
|
|
|
454,629,283 |
|
|
|
458,327,830 |
|
|
|
— |
|
|
|
912,957,113 |
|
|
|
|
|
|
— |
|
|
|
775,185 |
|
|
|
— |
|
|
|
775,185 |
|
Total Investments, at fair value |
|
|
|
$ |
454,629,283 |
|
|
$ |
459,103,015 |
|
|
$ |
— |
|
|
$ |
913,732,298 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Other Financial Instruments+ |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
$ |
— |
|
|
$ |
(3,711,915 |
) |
|
$ |
— |
|
|
$ |
(3,711,915 |
) |
|
|
|
|
|
(182,284 |
) |
|
|
— |
|
|
|
— |
|
|
|
(182,284 |
) |
|
|
|
|
$ |
(182,284 |
) |
|
$ |
(3,711,915 |
) |
|
$ |
— |
|
|
$ |
(3,894,199 |
) |
ˆ |
|
See Note 2, “Significant Accounting Policies” in the
Notes to Financial Statements for additional information. |
+ |
|
Other Financial Instruments are derivatives not reflected in the
Portfolio of Investments and may include open forward foreign currency contracts, equity forwards, futures, swaps, and written options. Forward foreign
currency contracts, equity forwards and futures are valued at the unrealized gain (loss) on the instrument. Swaps and written options are valued at the
fair value of the instrument. |
# |
|
The earlier close of the foreign markets gives rise to the
possibility that significant events, including broad market moves, may have occurred in the interim and may materially affect the value of those
securities. To account for this, the Fund may frequently value many of its foreign equity securities using fair value prices based on third party
vendor modeling tools to the extent available. Accordingly, a portion of the Fund’s investments are categorized as Level 2
investments. |
ING Global Equity Dividend and Premium Opportunity Fund
Open Futures Contracts on August 31, 2013:
Contract Description
|
|
|
|
Number
of Contracts
|
|
Expiration
Date
|
|
Notional
Value
|
|
Unrealized
Appreciation/
(Depreciation)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
31 |
|
|
|
09/20/13 |
|
|
$ |
3,078,430 |
|
|
$ |
(26,869 |
) |
|
|
|
|
|
210 |
|
|
|
09/12/13 |
|
|
|
14,281,968 |
|
|
|
(77,357 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
$ |
17,360,398 |
|
|
$ |
(104,226 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(47 |
) |
|
|
09/20/13 |
|
|
|
(3,833,555 |
) |
|
|
(78,058 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
$ |
(3,833,555 |
) |
|
$ |
(78,058 |
) |
See Accompanying Notes to Financial
Statements
22
ING GLOBAL EQUITY DIVIDEND AND
PREMIUM OPPORTUNITY FUND
SUMMARY PORTFOLIO OF INVESTMENTS
AS OF AUGUST 31, 2013 (UNAUDITED) (CONTINUED)
ING Global Equity Dividend and Premium Opportunity Fund
Written OTC Options on August 31, 2013:
Number of
Contracts/Notional
Amount
|
|
|
|
Counterparty
|
|
Description
|
|
Exercise
Price
|
|
Expiration
Date
|
|
Premiums
Received
|
|
Fair Value
|
Options on Indices
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Call on Euro Stoxx 50® Index |
|
|
2,814.373 |
EUR |
|
|
09/20/13 |
|
|
$ |
399,566 |
|
|
$ |
(83,765 |
) |
|
|
|
|
|
|
Call on Euro Stoxx 50® Index |
|
|
2,716.690 |
EUR |
|
|
09/06/13 |
|
|
|
434,335 |
|
|
|
(220,471 |
) |
|
|
|
|
|
|
Call on Euro Stoxx 50® Index |
|
|
2,838.432 |
EUR |
|
|
10/04/13 |
|
|
|
422,104 |
|
|
|
(110,713 |
) |
|
|
|
|
|
|
|
|
|
6,603.140 |
GBP |
|
|
09/20/13 |
|
|
|
988,839 |
|
|
|
(156,098 |
) |
|
|
|
|
|
|
|
|
|
6,562.550 |
GBP |
|
|
09/06/13 |
|
|
|
1,025,801 |
|
|
|
(52,757 |
) |
|
|
|
|
|
|
|
|
|
6,468.471 |
GBP |
|
|
10/04/13 |
|
|
|
987,649 |
|
|
|
(712,910 |
) |
|
|
|
|
|
|
|
|
|
14,479.062 |
JPY |
|
|
09/20/13 |
|
|
|
831,026 |
|
|
|
(53,087 |
) |
|
|
|
|
|
|
|
|
|
13,633.180 |
JPY |
|
|
10/04/13 |
|
|
|
854,920 |
|
|
|
(511,726 |
) |
|
|
|
|
|
|
|
|
|
14,765.536 |
JPY |
|
|
09/06/13 |
|
|
|
843,991 |
|
|
|
(402 |
) |
|
|
|
|
|
|
|
|
|
1,656.989 |
USD |
|
|
10/04/13 |
|
|
|
1,925,140 |
|
|
|
(1,000,647 |
) |
|
|
|
|
|
|
|
|
|
1,702.546 |
USD |
|
|
09/20/13 |
|
|
|
1,691,982 |
|
|
|
(89,094 |
) |
|
|
|
|
|
|
|
|
|
1,683.650 |
USD |
|
|
09/06/13 |
|
|
|
1,807,984 |
|
|
|
(22,624 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
1.353 |
USD |
|
|
10/21/13 |
|
|
|
65,000 |
|
|
|
(48,334 |
) |
|
|
|
|
|
|
|
|
|
1.356 |
USD |
|
|
09/20/13 |
|
|
|
90,000 |
|
|
|
(8,095 |
) |
|
|
|
|
|
|
|
|
|
1.377 |
USD |
|
|
11/20/13 |
|
|
|
89,600 |
|
|
|
(37,478 |
) |
|
|
|
|
|
|
|
|
|
1.572 |
USD |
|
|
10/21/13 |
|
|
|
211,575 |
|
|
|
(224,700 |
) |
|
|
|
|
|
|
|
|
|
1.588 |
USD |
|
|
09/20/13 |
|
|
|
294,000 |
|
|
|
(30,689 |
) |
|
|
|
|
|
|
|
|
|
1.603 |
USD |
|
|
11/20/13 |
|
|
|
220,000 |
|
|
|
(121,376 |
) |
|
|
|
|
|
|
|
|
|
91.200 |
USD |
|
|
09/20/13 |
|
|
|
225,000 |
|
|
|
(9,074 |
) |
|
|
|
|
|
|
|
|
|
91.580 |
USD |
|
|
11/20/13 |
|
|
|
126,000 |
|
|
|
(90,111 |
) |
|
|
|
|
|
|
|
|
|
94.170 |
USD |
|
|
10/21/13 |
|
|
|
143,000 |
|
|
|
(127,764 |
) |
|
|
|
|
|
|
|
|
Total Written OTC
Options |
|
|
$ |
13,677,512 |
|
|
$ |
(3,711,915 |
) |
A summary of derivative instruments by primary risk
exposure is outlined in the following tables.
The fair value of derivative instruments as of August 31,
2013 was as follows:
Derivatives not accounted for as
hedging
instruments
|
|
|
Location on Statement
of Assets and Liabilities
|
|
|
Fair Value
|
|
|
|
|
|
|
|
|
|
Foreign exchange contracts |
|
|
Investments in securities at value* |
|
|
$ |
775,185 |
|
|
|
|
|
|
|
$ |
775,185 |
|
|
|
|
|
|
|
|
|
|
|
|
|
Net Assets — Unrealized depreciation** |
|
|
$ |
182,284 |
|
|
|
|
Written options, at fair value |
|
|
|
3,014,294 |
|
Foreign exchange contracts |
|
|
Written options, at fair value |
|
|
|
697,621 |
|
Total Liability Derivatives |
|
|
|
|
|
$ |
3,894,199 |
|
* |
|
Includes purchased options. |
** |
|
Includes cumulative appreciation/depreciation of futures
contracts as reported in the table following the Summary Portfolio of Investments. |
The effect of derivative instruments on the Fund’s
Statement of Operations for the period ended August 31, 2013 was as follows:
|
|
|
|
Amount of Realized Gain or (Loss)
on Derivatives
Recognized in Income
|
|
Derivatives not accounted for as
hedging
instruments
|
|
|
|
Investments*
|
|
Futures
|
|
Written options
|
|
Total
|
|
|
|
|
$ |
— |
|
|
$ |
6,075,647 |
|
|
$ |
(33,407,179 |
) |
|
$ |
(27,331,532 |
) |
Foreign exchange contracts |
|
|
|
|
2,805,688 |
|
|
|
— |
|
|
|
772,761 |
|
|
|
3,578,449 |
|
|
|
|
|
$ |
2,805,688 |
|
|
$ |
6,075,647 |
|
|
$ |
(32,634,418 |
) |
|
$ |
(23,753,083 |
) |
See Accompanying Notes to Financial
Statements
23
ING GLOBAL EQUITY DIVIDEND AND
PREMIUM OPPORTUNITY FUND
SUMMARY PORTFOLIO OF INVESTMENTS
AS OF AUGUST 31, 2013 (UNAUDITED) (CONTINUED)
|
|
|
|
Change in Unrealized Appreciation or
(Depreciation)
on Derivatives Recognized in Income
|
|
Derivatives not accounted for as
hedging
instruments
|
|
|
|
Investments*
|
|
Futures
|
|
Written options
|
|
Total
|
|
|
|
|
$ |
— |
|
|
$ |
(1,630,490 |
) |
|
$ |
10,957,228 |
|
|
$ |
9,326,738 |
|
Foreign exchange contracts |
|
|
|
|
(3,746,774 |
) |
|
|
— |
|
|
|
(447 |
) |
|
|
(3,747,221 |
) |
|
|
|
|
$ |
(3,746,774 |
) |
|
$ |
(1,630,490 |
) |
|
$ |
10,956,781 |
|
|
$ |
5,579,517 |
|
* |
|
Amounts recognized for purchased options are included in net
realized gain (loss) on investments and net change in unrealized appreciation or depreciation on investments. |
The following is a summary by counterparty of the fair
value of OTC derivative instruments subject to Master Netting Agreements and collateral pledged (received), if any, at August 31,
2013:
|
|
|
|
BNP
Paribas Bank
|
|
Barclays
Bank PLC
|
|
Citigroup,
Inc.
|
|
Goldman
Sachs & Co.
|
|
JPMorgan
Chase & Co.
|
|
UBS
Warburg LLC
|
|
Totals
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
$ |
— |
|
|
$ |
— |
|
|
$ |
— |
|
|
$ |
205,896 |
|
|
$ |
569,289 |
|
|
$ |
— |
|
|
$ |
775,185 |
|
|
|
|
|
$ |
— |
|
|
$ |
— |
|
|
$ |
— |
|
|
$ |
205,896 |
|
|
$ |
569,289 |
|
|
$ |
— |
|
|
$ |
775,185 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
$ |
1,240,510 |
|
|
$ |
53,087 |
|
|
$ |
89,094 |
|
|
$ |
500,177 |
|
|
$ |
470,672 |
|
|
$ |
1,358,375 |
|
|
$ |
3,711,915 |
|
|
|
|
|
$ |
1,240,510 |
|
|
$ |
53,087 |
|
|
$ |
89,094 |
|
|
$ |
500,177 |
|
|
$ |
470,672 |
|
|
$ |
1,358,375 |
|
|
$ |
3,711,915 |
|
Net OTC derivative instruments by counterparty, at fair value |
|
|
|
$ |
(1,240,510 |
) |
|
$ |
(53,087 |
) |
|
$ |
(89,094 |
) |
|
$ |
(294,281 |
) |
|
$ |
98,617 |
|
|
$ |
(1,358,375 |
) |
|
$ |
(2,936,730 |
) |
Total collateral pledged by Fund/(Received from counterparty) |
|
|
|
$ |
— |
|
|
$ |
— |
|
|
$ |
— |
|
|
$ |
— |
|
|
$ |
— |
|
|
$ |
— |
|
|
$ |
— |
|
|
|
|
|
$ |
(1,240,510 |
) |
|
$ |
(53,087 |
) |
|
$ |
(89,094 |
) |
|
$ |
(294,281 |
) |
|
$ |
98,617 |
|
|
$ |
(1,358,375 |
) |
|
$ |
(2,936,730 |
) |
(1) |
|
Positive net exposure represents amounts due from each
respective counterparty. Negative exposure represents amounts due from the Fund. Please refer to Note 2 for additional details regarding counterparty
credit risk and credit related contingent features. |
Supplemental Option Information
(Unaudited)
Supplemental Call Option Statistics as of August 31,
2013:
|
|
|
|
|
|
|
% of Total Net Assets against which calls written |
|
|
|
|
60.12 |
% |
Average Days to Expiration at time written |
|
|
|
|
49 days |
|
Average Call Moneyness* at time written |
|
|
|
|
OTM/ATM |
|
Premiums received for calls |
|
|
|
$ |
12,213,337 |
|
|
|
|
|
$ |
(3,014,294 |
) |
|
|
|
|
|
|
|
% of Total Net Assets against which calls/puts written |
|
|
|
|
24.76 |
% |
Average Days to Expiration at time written |
|
|
|
|
92 days |
|
Average Call Moneyness* at time written |
|
|
|
|
OTM |
|
Premiums received for calls |
|
|
|
$ |
1,464,175 |
|
|
|
|
|
$ |
(697,621 |
) |
Supplemental Put Option Statistics as of August 31,
2012:
|
|
|
|
|
|
|
% of Total Net Assets against which Currency calls/puts purchased |
|
|
|
|
24.76 |
% |
Average Days to Expiration at time purchased |
|
|
|
|
92 days |
|
Average Currency Put Moneyness* at time purchased |
|
|
|
|
OTM |
|
|
|
|
|
$ |
1,464,175 |
|
|
|
|
|
$ |
775,185 |
|
* |
|
“Moneyness” is the term used to describe the
relationship between the price of the underlying asset and the option’s exercise or strike price. For example, a call (buy) option is considered
“in-the-money” when the value of the underlying asset exceeds the strike price. Conversely, a put (sell) option is considered
“in-the-money” when its strike price exceeds the value of the underlying asset. Options are characterized for the purpose of Moneyness as,
“in-the-money” (“ITM”), “out-of-the-money” (“OTM”) or “at-the-money” (“ATM”), where the
underlying asset value equals the strike price. |
See Accompanying Notes to Financial
Statements
24
SHAREHOLDER MEETING INFORMATION (UNAUDITED)
An annual shareholder meeting of the ING Global Equity
Dividend and Premium Opportunity Fund Registrant was held May 6, 2013, at the offices of ING Funds, 7337 East Doubletree Ranch Road, Suite 100,
Scottsdale, AZ 85258.
Proposals:
1 To approve a new investment advisory agreement for the Funds with ING Investments prompted by the IPO, and to approve, under
certain circumstances, any future advisory agreements prompted by Change of Control Events that occur as part of the Separation Plan.
3 To approve a new investment sub-advisory agreement between ING Investments and ING Investment Management Advisors, V.B.
(“IIMA”) with respect to certain Funds prompted by the IPO, and to approve, under certain circumstances, any future sub-advisory agreements
prompted by Change of Control Events that occur as part of the Separation Plan.
5 To elect five nominees to the Boards of Trustees of certain Funds.
7 To approve a new investment sub-advisory agreement between ING Investments and ING IM with respect to certain Funds.
|
|
|
|
Proposal
|
|
Shares voted
for
|
|
Shares voted
against or
withheld
|
|
Shares
abstained
|
|
Broker
non-vote
|
|
Total Shares
Voted
|
ING Global Equity Dividend and Premium Opportunity Fund |
|
|
|
|
|
|
36,919,241.360 |
|
|
|
2,188,524.772 |
|
|
|
1,592,756.996 |
|
|
|
22,882,130.908 |
|
|
|
63,582,654.036 |
|
|
|
|
|
|
|
|
36,810,449.720 |
|
|
|
2,270,228.887 |
|
|
|
1,619,794.521 |
|
|
|
22,882,130.908 |
|
|
|
63,582,604.036 |
|
| |
|
|
|
|
|
|
Proposal
|
|
For All
|
|
Withhold All
|
|
For all
Except
|
|
Broker
non-vote
|
|
Total Shares
Voted
|
|
|
|
|
|
|
|
60,585,859.626 |
|
|
|
2,996,794.410 |
|
|
|
0.000 |
|
|
|
0.000 |
|
|
|
63,582,654.036 |
|
|
|
|
|
|
|
|
60,586,473.133 |
|
|
|
2,996,180.903 |
|
|
|
0.000 |
|
|
|
0.000 |
|
|
|
63,582,654.036 |
|
|
|
|
|
|
|
|
60,557,152.663 |
|
|
|
3,025,501.373 |
|
|
|
0.000 |
|
|
|
0.000 |
|
|
|
63,582,654.036 |
|
|
|
|
|
|
|
|
60,562,934.191 |
|
|
|
3,019,719.845 |
|
|
|
0.000 |
|
|
|
0.000 |
|
|
|
63,582,654.036 |
|
|
|
|
|
|
|
|
60,578,338.248 |
|
|
|
3,004,315.788 |
|
|
|
0.000 |
|
|
|
0.000 |
|
|
|
63,582,654.036 |
|
| |
|
|
|
|
|
|
Proposal
|
|
Shares voted
for
|
|
Shares voted
against or
withheld
|
|
Shares
abstained
|
|
Broker
non-vote
|
|
Total Shares
Voted
|
|
|
|
|
|
|
|
36,938,481.567 |
|
|
|
2,178,497.400 |
|
|
|
1,583,544.161 |
|
|
|
22,882,130.908 |
|
|
|
63,582,654.036 |
|
* |
|
Proposals deferred; adjourned to July 5, 2013 |
An annual shareholder meeting of the ING Global Equity
Dividend and Premium Opportunity Fund Registrant was held July 5, 2013, at the offices of ING Funds, 7337 East Doubletree Ranch Road, Suite 100,
Scottsdale, AZ 85258.
|
|
|
|
Proposal
|
|
Shares voted
for
|
|
Shares voted
against or
withheld
|
|
Shares
abstained
|
|
Broker
non-vote
|
|
Total Shares
Voted
|
ING Global Equity Dividend and Premium Opportunity Fund |
|
|
|
|
|
|
46,686,745.777 |
|
|
|
2,778,307.039 |
|
|
|
2,146,636.896 |
|
|
|
17,549,933.254 |
|
|
|
69,161,622.966 |
|
|
|
|
|
|
|
|
46,568,585.640 |
|
|
|
2,877,800.983 |
|
|
|
2,165,303.089 |
|
|
|
17,549,933.254 |
|
|
|
69,161,622.966 |
|
|
|
|
|
|
|
|
46,703,915.003 |
|
|
|
2,779,513.724 |
|
|
|
2,128,260.985 |
|
|
|
17,549,933.254 |
|
|
|
69,161,622.966 |
|
25
ADDITIONAL INFORMATION (UNAUDITED)
During the period, there were no material changes in the
Fund’s investment objective or policies that were not approved by the shareholders or the Fund’s charter or by-laws or in the principal risk
factors associated with investment in the Fund other than that listed below.
The Fund may lend portfolio securities in an amount equal
to up to 33-1/3% of its managed assets to broker dealers or other institutional borrowers, in exchange for cash collateral and fees. The fund may use
the cash collateral in connection with the Fund’s investment program as approved by the Adviser, including generating cash to cover collateral
posting requirements. Although the Fund has no current intention to do so, it may use the cash collateral to generate additional income. The use of
cash collateral in connection with the Fund’s investment program may have a leveraging effect on the Fund, which would increase the volatility of
the Fund and could reduce its returns and/or cause a loss.
The Fund intends to engage in lending portfolio securities
only when such lending is secured by cash or other permissible collateral in an amount at least equal to the market value of the securities loaned. The
Fund will maintain cash, cash equivalents or liquid securities holdings in an amount sufficient to cover its repayment obligation with respect to the
collateral, marked to market on a daily basis.
Securities lending involves the risks of delay in recovery
or even loss of rights in the securities loaned if the borrower of the securities fails financially. Loans will be made only to organizations whose
credit quality or claims paying ability is considered by the Sub-Adviser to be at least investment grade. The financial condition of the borrower will
be monitored by the Adviser on an ongoing basis. The Fund will not lend portfolio securities subject to a written American style covered call option
contract. The Fund may lend portfolio securities subject to a written European style covered call option contract as long as the lending period is less
than or equal to the term of the covered call option contract.
Dividend Reinvestment Plan
Unless the registered owner of Common Shares elects to
receive cash by contacting Computershare Shareowner Services LLC (the “Plan Agent”), all dividends declared on Common Shares of the Fund will
be automatically reinvested by the Plan Agent for shareholders in additional Common Shares of the Fund through the Fund’s Dividend Reinvestment
Plan (the “Plan”). Shareholders who elect not to participate in the Plan will receive all dividends and other distributions in cash paid by
check mailed directly to the shareholder of record (or, if the Common Shares are held in street or other nominee name, then to such nominee) by the
Plan Agent. Participation in the Plan is completely voluntary and may be terminated or resumed at any time without penalty by notice if received and
processed by the Plan Agent prior to the dividend record date; otherwise such termination or resumption will be effective with respect to any
subsequently declared dividend or other distribution. Some brokers may automatically elect to receive cash on your behalf and may re-invest that cash
in additional Common Shares of the Fund for you. If you wish for all dividends declared on your Common Shares of the Fund to be automatically
reinvested pursuant to the Plan, please contact your broker.
The Plan Agent will open an account for each Common
Shareholder under the Plan in the same name in which such Common Shareholder’s Common Shares are registered. Whenever the Fund declares a dividend
or other distribution (together, a “Dividend”) payable in cash, non-participants in the Plan will receive cash and participants in the Plan
will receive the equivalent in Common Shares. The Common Shares will be acquired by the Plan Agent for the participants’ accounts, depending upon
the circumstances described below, either (i) through receipt of additional unissued but authorized Common Shares from the Fund (“Newly Issued
Common Shares”) or (ii) by purchase of outstanding Common Shares on the open market (“Open-Market Purchases”) on the NYSE or elsewhere.
Open-market purchases and sales are usually made through a broker affiliated with the Plan Agent.
If, on the payment date for any Dividend, the closing
market price plus estimated brokerage commissions per Common Share is equal to or greater than the net asset value per Common Share, the Plan Agent
will invest the Dividend amount in Newly Issued Common Shares on behalf of the participants. The number of Newly Issued Common Shares to be credited to
each participant’s account will be determined by dividing the dollar amount of the Dividend by the net asset value per Common Share on the payment
date; provided that, if the net asset value is less than or equal to 95% of the closing market value on the payment date, the dollar amount of the
Dividend will be divided by 95% of the closing market price per Common Share on the payment date. If, on the payment date for any Dividend, the net
asset value per Common Share is greater than the closing market value plus estimated brokerage commissions, the Plan Agent will invest the Dividend
amount in Common Shares acquired on behalf of the participants in Open-Market Purchases. In the event of a market discount on the payment date for any
Dividend, the Plan Agent will have until the last business day before the next date on which the Common Shares trade on an “ex-dividend”
basis or 30 days after the payment date for such Dividend, whichever is sooner (the “Last Purchase Date”), to invest the Dividend amount in
Common Shares acquired in Open-Market Purchases.
The Fund pays monthly Dividends. Therefore, the period
during which Open-Market Purchases can be made will exist only from the payment date of each Dividend through the date before the next
“ex-dividend” date, which typically will be approximately ten days.
If, before the Plan Agent has completed its Open-Market
Purchases, the market price per common share
26
ADDITIONAL INFORMATION (UNAUDITED) (CONTINUED)
exceeds the net asset value per Common Share, the
average per Common Share purchase price paid by the Plan Administrator may exceed the net asset value of the Common Shares, resulting in the
acquisition of fewer Common Shares than if the Dividend had been paid in Newly Issued Common Shares on the Dividend payment date. Because of the
foregoing difficulty with respect to Open-Market Purchases, the Plan provides that if the Plan Agent is unable to invest the full Dividend amount in
Open-Market Purchases during the purchase period or if the market discount shifts to a market premium during the purchase period, the Plan Agent will
cease making Open-Market Purchases and will invest the un-invested portion of the Dividend amount in Newly Issued Common Shares at the net asset value
per common share at the close of business on the Last Purchase Date provided that, if the net asset value is less than or equal to 95% of the then
current market price per Common Share, the dollar amount of the Dividend will be divided by 95% of the market price on the payment
date.
The Plan Agent maintains all shareholders’ accounts in
the Plan and furnishes written confirmation of all transactions in the accounts, including information needed by shareholders for tax records. Common
Shares in the account of each Plan participant will be held by the Plan Agent on behalf of the Plan participant, and each shareholder proxy will
include those shares purchased or received pursuant to the Plan. The Plan Agent will forward all proxy solicitation materials to participants and vote
proxies for shares held under the Plan in accordance with the instructions of the participants.
In the case of shareholders such as banks, brokers or
nominees which hold shares for others who are the beneficial owners, the Plan Agent will administer the Plan on the basis of the number of Common
Shares certified from time to time by the record shareholder’s name and held for the account of beneficial owners who participate in the
Plan.
There will be no brokerage charges with respect to Common
Shares issued directly by the Fund. However, each participant will pay a pro rata share of brokerage commissions incurred in connection with
Open-Market Purchases. The automatic reinvestment of Dividends will not relieve participants of any federal, state or local income tax that may be
payable (or required to be withheld) on such Dividends. Participants that request a partial or full sale of shares through the Plan Agent are subject
to a $15.00 sales fee and a $0.10 per share brokerage commission on purchases or sales, and may be subject to certain other service
charges.
The Fund reserves the right to amend or terminate the Plan.
There is no direct service charge to participants with regard to purchases in the Plan; however, the Fund reserves the right to amend the Plan to
include a service charge payable by the participants.
All questions concerning the Plan should be directed to the
Fund’s Shareholder Service Department at (800) 992-0180.
Key Financial Dates — Calendar 2013
Distributions:
Declaration Date
|
|
|
|
Ex-Dividend Date
|
|
Payable Date
|
January 15, 2013 |
|
|
|
|
February 1, 2013 |
|
|
|
February 15, 2013 |
|
February 15, 2013 |
|
|
|
|
March 1, 2013 |
|
|
|
March 15, 2013 |
|
March 15, 2013 |
|
|
|
|
April 1, 2013 |
|
|
|
April 15, 2013 |
|
April 15, 2013 |
|
|
|
|
May 1, 2013 |
|
|
|
May 15, 2013 |
|
May 15, 2013 |
|
|
|
|
June 3, 2013 |
|
|
|
June 17, 2013 |
|
June 17, 2013 |
|
|
|
|
July 1, 2013 |
|
|
|
July 15, 2013 |
|
July 15, 2013 |
|
|
|
|
August 1, 2013 |
|
|
|
August 15, 2013 |
|
August 15, 2013 |
|
|
|
|
September 3, 2013 |
|
|
|
September 16, 2013 |
|
September 16, 2013 |
|
|
|
|
October 1, 2013 |
|
|
|
October 15, 2013 |
|
October 15, 2013 |
|
|
|
|
November 1, 2013 |
|
|
|
November 15, 2013 |
|
November 15, 2013 |
|
|
|
|
December 2, 2013 |
|
|
|
December 16, 2013 |
|
December 16, 2013 |
|
|
|
|
December 27, 2013 |
|
|
|
January 15, 2014 |
|
Record date will be two business days after each
Ex-Dividend Date. These dates are subject to change.
Stock Data
The Fund’s common shares are traded on the NYSE
(Symbol: IGD).
Repurchase of Securities by Closed-End
Companies
In accordance with Section 23(c) of the 1940 Act, and Rule
23c-1 under the 1940 Act the Fund may from time to time purchase shares of beneficial interest of the Fund in the open market, in privately negotiated
transactions and/or purchase shares to correct erroneous transactions.
Number of Shareholders
The approximate number of record holders of Common Stock as
of August 31, 2013 was 108, which does not include approximately 34,839 beneficial owners of shares held in the name of brokers of other
nominees.
Certifications
In accordance with Section 303A.12 (a) of the New York
Stock Exchange Listed Company Manual, the Fund’s CEO submitted the Annual CEO Certification on June 27, 2013 certifying that he was not aware, as
of that date, of any violation by the Fund of the NYSE’s Corporate governance listing standards. In addition, as required by Section 302 of the
Sarbanes-Oxley Act of 2002 and related SEC rules, the Fund’s principal executive and financial officers have made quarterly certifications,
included in filings with the SEC on Forms N-CSR and N-Q, relating to, among other things, the Fund’s disclosure controls and procedures and
internal controls over financial reporting.
27
Investment Adviser
ING Investments, LLC
7337 East
Doubletree Ranch Road, Suite 100
Scottsdale, Arizona 85258
Administrator
ING Funds Services, LLC
7337 East
Doubletree Ranch Road, Suite 100
Scottsdale, Arizona 85258
Transfer Agent
Computershare Shareowner Services
LLC
480 Washington Boulevard
Jersey City, New Jersey 07310-1900
Custodian
The Bank of New York Mellon
One Wall
Street
New York, New York 10286
Legal Counsel
Dechert LLP
1900 K Street, N.W.
Washington, D.C. 20006
Toll-Free Shareholder Information
Call us from 9:00
a.m. to 7:00 p.m. Eastern time on any business day for account or other information, at (800) 992-0180
SAR-UIGD (0813-102513)
Item 2. Code of Ethics.
Not required for semi-annual filing.
Item 3. Audit Committee Financial Expert.
Not required for semi-annual filing.
Item 4. Principal Accountant Fees and Services.
Not required for semi-annual filing.
Item 5. Audit Committee Of Listed Registrants.
Not required for semi-annual filing.
Item 6. Schedule of Investments.
ING GLOBAL EQUITY DIVIDEND AND
PREMIUM OPPORTUNITY FUND |
PORTFOLIO OF INVESTMENTS
AS OF AUGUST 31, 2013 (UNAUDITED) |
Shares
|
|
|
|
|
|
|
|
Value
|
|
Percentage
of Net
Assets
|
|
|
|
|
|
|
|
|
|
|
|
|
4,519,914 |
|
|
|
0.5 |
|
|
|
|
|
|
|
|
|
|
6,536,655 |
|
|
|
0.7 |
|
|
|
|
|
|
|
|
|
|
11,056,569 |
|
|
|
1.2 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Cia Energetica de Minas Gerais ADR |
|
|
3,984,127 |
|
|
|
0.4 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
8,931,299 |
|
|
|
0.9 |
|
|
|
|
|
|
|
Canadian Imperial Bank of Commerce |
|
|
10,099,869 |
|
|
|
1.1 |
|
|
|
|
|
|
|
|
|
|
9,238,266 |
|
|
|
1.0 |
|
|
|
|
|
|
|
Shaw Communications, Inc. — Class B |
|
|
10,408,475 |
|
|
|
1.1 |
|
|
|
|
|
|
|
|
|
|
4,729,073 |
|
|
|
0.5 |
|
|
|
|
|
|
|
|
|
|
9,350,725 |
|
|
|
1.0 |
|
|
|
|
|
|
|
|
|
|
52,757,707 |
|
|
|
5.6 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
BOC Hong Kong Holdings Ltd. |
|
|
9,339,601 |
|
|
|
1.0 |
|
|
|
|
|
|
|
|
|
|
5,073,018 |
|
|
|
0.5 |
|
|
|
|
|
|
|
|
|
|
14,412,619 |
|
|
|
1.5 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
9,219,103 |
|
|
|
1.0 |
|
|
|
|
|
|
|
|
|
|
9,430,193 |
|
|
|
1.0 |
|
|
|
|
|
|
|
|
|
|
9,343,468 |
|
|
|
1.0 |
|
|
|
|
|
|
|
|
|
|
9,460,892 |
|
|
|
1.0 |
|
|
|
|
|
|
|
|
|
|
10,373,527 |
|
|
|
1.1 |
|
|
|
|
|
|
|
|
|
|
8,761,756 |
|
|
|
0.9 |
|
|
|
|
|
|
|
|
|
|
9,678,603 |
|
|
|
1.0 |
|
|
|
|
|
|
|
|
|
|
66,267,542 |
|
|
|
7.0 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
10,119,226 |
|
|
|
1.1 |
|
|
|
|
|
|
|
|
|
|
9,225,471 |
|
|
|
1.0 |
|
|
|
|
|
|
|
|
|
|
8,824,850 |
|
|
|
0.9 |
|
|
|
|
|
|
|
|
|
|
9,569,101 |
|
|
|
1.0 |
|
|
|
|
|
|
|
|
|
|
9,190,203 |
|
|
|
1.0 |
|
|
|
|
|
|
|
|
|
|
9,185,756 |
|
|
|
1.0 |
|
|
|
|
|
|
|
|
|
|
9,745,335 |
|
|
|
1.0 |
|
|
|
|
|
|
|
|
|
|
65,859,942 |
|
|
|
7.0 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Cheung Kong Infrastructure Holdings Ltd. |
|
|
4,783,121 |
|
|
|
0.5 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
5,932,688 |
|
|
|
0.6 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Assicurazioni Generali S.p.A. |
|
|
4,920,848 |
|
|
|
0.5 |
|
|
|
|
|
|
|
|
|
|
9,634,706 |
|
|
|
1.0 |
|
|
|
|
|
|
|
|
|
|
9,019,466 |
|
|
|
1.0 |
|
|
|
|
|
|
|
|
|
|
23,575,020 |
|
|
|
2.5 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
4,874,102 |
|
|
|
0.5 |
|
|
|
|
|
|
|
|
|
|
4,247,025 |
|
|
|
0.5 |
|
|
|
|
|
|
|
|
|
|
7,801,809 |
|
|
|
0.8 |
|
|
|
|
|
|
|
|
|
|
6,558,461 |
|
|
|
0.7 |
|
|
|
|
|
|
|
Mitsubishi UFJ Financial Group, Inc. |
|
|
9,414,238 |
|
|
|
1.0 |
|
|
|
|
|
|
|
|
|
|
10,476,756 |
|
|
|
1.1 |
|
|
|
|
|
|
|
|
|
|
8,836,014 |
|
|
|
0.9 |
|
|
|
|
|
|
|
|
|
|
7,111,380 |
|
|
|
0.8 |
|
|
|
|
|
|
|
Sumitomo Mitsui Financial Group, Inc. |
|
|
8,927,436 |
|
|
|
0.9 |
|
|
|
|
|
|
|
Takeda Pharmaceutical Co., Ltd. |
|
|
9,883,626 |
|
|
|
1.1 |
|
|
|
|
|
|
|
|
|
|
78,130,847 |
|
|
|
8.3 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
9,716,546 |
|
|
|
1.0 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
7,524,381 |
|
|
|
0.8 |
|
|
|
|
|
|
|
|
|
|
7,629,349 |
|
|
|
0.8 |
|
|
|
|
|
|
|
|
|
|
14,248,215 |
|
|
|
1.5 |
|
|
|
|
|
|
|
|
|
|
29,401,945 |
|
|
|
3.1 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Singapore Telecommunications Ltd. |
|
|
8,792,116 |
|
|
|
0.9 |
|
|
|
|
|
|
|
United Overseas Bank Ltd. |
|
|
9,096,097 |
|
|
|
1.0 |
|
|
|
|
|
|
|
|
|
|
17,888,213 |
|
|
|
1.9 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Telefonaktiebolaget LM Ericsson |
|
|
7,203,347 |
|
|
|
0.8 |
|
|
|
|
|
|
|
|
|
|
9,383,200 |
|
|
|
1.0 |
|
|
|
|
|
|
|
|
|
|
16,586,547 |
|
|
|
1.8 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
9,465,362 |
|
|
|
1.0 |
|
|
|
|
|
|
|
|
|
|
14,826,303 |
|
|
|
1.6 |
|
|
|
|
|
|
|
Roche Holding AG — Genusschein |
|
|
9,944,934 |
|
|
|
1.0 |
|
|
|
|
|
|
|
Zurich Insurance Group AG |
|
|
9,145,608 |
|
|
|
1.0 |
|
|
|
|
|
|
|
|
|
|
43,382,207 |
|
|
|
4.6 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
4,809,023 |
|
|
|
0.5 |
|
|
|
|
|
|
|
Taiwan Semiconductor Manufacturing Co., Ltd. ADR |
|
|
8,532,507 |
|
|
|
0.9 |
|
|
|
|
|
|
|
|
|
|
13,341,530 |
|
|
|
1.4 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
8,725,634 |
|
|
|
0.9 |
|
|
|
|
|
|
|
|
|
|
9,397,935 |
|
|
|
1.0 |
|
|
|
|
|
|
|
|
|
|
5,421,379 |
|
|
|
0.6 |
|
|
|
|
|
|
|
|
|
|
8,948,660 |
|
|
|
0.9 |
|
|
|
|
|
|
|
|
|
|
9,128,093 |
|
|
|
1.0 |
|
|
|
|
|
|
|
Imperial Tobacco Group PLC |
|
|
8,768,987 |
|
|
|
0.9 |
|
|
|
|
|
|
|
|
|
|
10,228,895 |
|
|
|
1.1 |
|
See Accompanying Notes to Financial
Statements
1
ING GLOBAL EQUITY DIVIDEND AND
PREMIUM OPPORTUNITY FUND |
PORTFOLIO OF INVESTMENTS
AS OF AUGUST 31, 2013 (UNAUDITED) (CONTINUED) |
Shares
|
|
|
|
|
|
|
|
Value
|
|
Percentage
of Net
Assets
|
|
|
|
|
|
|
|
|
|
9,930,587 |
|
|
|
1.0 |
|
|
|
|
|
|
|
|
|
|
9,996,509 |
|
|
|
1.1 |
|
|
|
|
|
|
|
|
|
|
80,546,679 |
|
|
|
8.5 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
9,530,664 |
|
|
|
1.0 |
|
|
|
|
|
|
|
|
|
|
9,630,950 |
|
|
|
1.0 |
|
|
|
|
|
|
|
|
|
|
10,578,726 |
|
|
|
1.1 |
|
|
|
|
|
|
|
|
|
|
8,687,696 |
|
|
|
0.9 |
|
|
|
|
|
|
|
|
|
|
9,374,893 |
|
|
|
1.0 |
|
|
|
|
|
|
|
|
|
|
6,698,520 |
|
|
|
0.7 |
|
|
|
|
|
|
|
|
|
|
9,558,047 |
|
|
|
1.0 |
|
|
|
|
|
|
|
|
|
|
9,338,172 |
|
|
|
1.0 |
|
|
|
|
|
|
|
|
|
|
8,799,097 |
|
|
|
0.9 |
|
|
|
|
|
|
|
|
|
|
10,542,424 |
|
|
|
1.1 |
|
|
|
|
|
|
|
|
|
|
14,331,502 |
|
|
|
1.5 |
|
|
|
|
|
|
|
|
|
|
14,093,772 |
|
|
|
1.5 |
|
|
|
|
|
|
|
First Niagara Financial Group, Inc. |
|
|
7,566,324 |
|
|
|
0.8 |
|
|
|
|
|
|
|
Freeport-McMoRan Copper & Gold, Inc. |
|
|
14,339,269 |
|
|
|
1.5 |
|
|
|
|
|
|
|
|
|
|
14,316,487 |
|
|
|
1.5 |
|
|
|
|
|
|
|
|
|
|
4,427,542 |
|
|
|
0.5 |
|
|
|
|
|
|
|
|
|
|
8,458,146 |
|
|
|
0.9 |
|
|
|
|
|
|
|
|
|
|
9,124,960 |
|
|
|
1.0 |
|
|
|
|
|
|
|
|
|
|
7,084,018 |
|
|
|
0.8 |
|
|
|
|
|
|
|
|
|
|
9,652,885 |
|
|
|
1.0 |
|
|
|
|
|
|
|
|
|
|
8,960,198 |
|
|
|
0.9 |
|
|
|
|
|
|
|
|
|
|
9,341,640 |
|
|
|
1.0 |
|
|
|
|
|
|
|
|
|
|
13,406,139 |
|
|
|
1.4 |
|
|
|
|
|
|
|
|
|
|
13,973,024 |
|
|
|
1.5 |
|
|
|
|
|
|
|
|
|
|
7,088,114 |
|
|
|
0.8 |
|
|
|
|
|
|
|
|
|
|
9,267,414 |
|
|
|
1.0 |
|
|
|
|
|
|
|
Occidental Petroleum Corp. |
|
|
9,132,470 |
|
|
|
1.0 |
|
|
|
|
|
|
|
|
|
|
14,929,268 |
|
|
|
1.6 |
|
|
|
|
|
|
|
PNC Financial Services Group, Inc. |
|
|
9,920,792 |
|
|
|
1.1 |
|
|
|
|
|
|
|
|
|
|
10,087,375 |
|
|
|
1.1 |
|
|
|
|
|
|
|
|
|
|
9,824,421 |
|
|
|
1.0 |
|
|
|
|
|
|
|
Public Service Enterprise Group, Inc. |
|
|
9,588,215 |
|
|
|
1.0 |
|
|
|
|
|
|
|
|
|
|
9,356,651 |
|
|
|
1.0 |
|
|
|
|
|
|
|
TAL International Group, Inc. |
|
|
4,984,231 |
|
|
|
0.5 |
|
|
|
|
|
|
|
|
|
|
9,567,690 |
|
|
|
1.0 |
|
|
|
|
|
|
|
|
|
|
10,069,618 |
|
|
|
1.1 |
|
|
|
|
|
|
|
|
|
|
9,788,649 |
|
|
|
1.0 |
|
|
|
|
|
|
|
|
|
|
9,913,261 |
|
|
|
1.0 |
|
|
|
|
|
|
|
|
|
|
375,333,264 |
|
|
|
39.7 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
912,957,113 |
|
|
|
96.6 |
|
# of
Contracts
|
|
|
|
|
|
|
|
Value
|
|
Percentage
of Net
Assets
|
|
|
Options on Currencies: 0.1% |
|
|
|
|
|
|
Put EUR/USD, Strike @ 1.295, Exp. 11/20/13 Counterparty: JPMorgan Chase &
Co. |
|
|
142,283 |
|
|
|
0.0 |
|
|
|
|
|
|
|
Put EUR/USD, Strike @ 1.272, Exp. 10/21/13 Counterparty: JPMorgan Chase &
Co. |
|
|
40,418 |
|
|
|
0.0 |
|
|
|
|
|
|
|
Put EUR/USD, Strike @ 1.265, Exp. 09/20/13 Counterparty: JPMorgan Chase &
Co. |
|
|
5,239 |
|
|
|
0.0 |
|
|
|
|
|
|
|
Put GBP/USD, Strike @ 1.486, Exp. 09/20/13 Counterparty: JPMorgan Chase &
Co. |
|
|
15,562 |
|
|
|
0.0 |
|
|
|
|
|
|
|
Put GBP/USD, Strike @ 1.511, Exp. 11/20/13 Counterparty: JPMorgan Chase &
Co. |
|
|
291,875 |
|
|
|
0.1 |
|
|
|
|
|
|
|
Put GBP/USD, Strike @ 1.477, Exp. 10/21/13 Counterparty: JPMorgan Chase &
Co. |
|
|
73,912 |
|
|
|
0.0 |
|
|
|
|
|
|
|
Put JPY/USD, Strike @ 105.200, Exp. 10/21/13 Counterparty: Goldman Sachs &
Co. |
|
|
43,325 |
|
|
|
0.0 |
|
|
|
|
|
|
|
Put JPY/USD, Strike @ 104.930, Exp. 09/20/13 Counterparty: Goldman Sachs &
Co. |
|
|
10,223 |
|
|
|
0.0 |
|
|
|
|
|
|
|
Put JPY/USD, Strike @ 102.600, Exp. 11/20/13 Counterparty: Goldman Sachs &
Co. |
|
|
152,348 |
|
|
|
0.0 |
|
|
|
|
|
|
|
|
|
|
775,185 |
|
|
|
0.1 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
775,185 |
|
|
|
0.1 |
|
| |
|
|
|
|
|
|
Total Investments in Securities
(Cost $850,250,575) |
|
$ |
913,732,298 |
|
|
|
96.7 |
|
|
|
|
|
|
|
Assets in Excess of Other Liabilities |
|
|
31,209,687 |
|
|
|
3.3 |
|
|
|
|
|
|
|
|
|
$ |
944,941,985 |
|
|
|
100.0 |
|
@ |
|
Non-income producing security |
ADR |
|
American Depositary Receipt |
|
|
Cost for federal income tax purposes is
$850,432,604. |
Net unrealized appreciation consists of: |
|
|
|
|
|
|
Gross Unrealized Appreciation |
|
|
|
$ |
100,486,256 |
|
Gross Unrealized Depreciation |
|
|
|
|
(37,186,562 |
) |
Net Unrealized Appreciation |
|
|
|
$ |
63,299,694 |
|
Sector Diversification
|
|
|
|
Percentage
of Net Assets
|
|
|
|
|
|
18.1 |
% |
|
|
|
|
|
13.2 |
|
|
|
|
|
|
11.1 |
|
|
|
|
|
|
10.7 |
|
|
|
|
|
|
10.3 |
|
|
|
|
|
|
9.3 |
|
|
|
|
|
|
7.2 |
|
|
|
|
|
|
7.2 |
|
|
|
|
|
|
4.8 |
|
Telecommunication Services |
|
|
|
|
4.7 |
|
|
|
|
|
|
0.1 |
|
Assets in Excess of Other Liabilities |
|
|
|
|
3.3 |
|
|
|
|
|
|
100.0 |
% |
See Accompanying Notes to Financial
Statements
2
ING GLOBAL EQUITY DIVIDEND AND
PREMIUM OPPORTUNITY FUND |
PORTFOLIO OF INVESTMENTS
AS OF AUGUST 31, 2013 (UNAUDITED) (CONTINUED) |
Fair Value Measurementsˆ
The following is a summary of the fair valuations according
to the inputs used as of August 31, 2013 in valuing the assets and liabilities:
|
|
|
|
Quoted Prices
in Active Markets
for
Identical
Investments
(Level 1)
|
|
Significant
Other
Observable
Inputs #
(Level 2)
|
|
Significant
Unobservable
Inputs
(Level 3)
|
|
Fair Value
at
August 31, 2013
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Investments, at fair value |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
$ |
— |
|
|
$ |
11,056,569 |
|
|
$ |
— |
|
|
$ |
11,056,569 |
|
|
|
|
|
|
3,984,127 |
|
|
|
— |
|
|
|
— |
|
|
|
3,984,127 |
|
|
|
|
|
|
52,757,707 |
|
|
|
— |
|
|
|
— |
|
|
|
52,757,707 |
|
|
|
|
|
|
5,073,018 |
|
|
|
9,339,601 |
|
|
|
— |
|
|
|
14,412,619 |
|
|
|
|
|
|
— |
|
|
|
66,267,542 |
|
|
|
— |
|
|
|
66,267,542 |
|
|
|
|
|
|
— |
|
|
|
65,859,942 |
|
|
|
— |
|
|
|
65,859,942 |
|
|
|
|
|
|
— |
|
|
|
4,783,121 |
|
|
|
— |
|
|
|
4,783,121 |
|
|
|
|
|
|
— |
|
|
|
5,932,688 |
|
|
|
— |
|
|
|
5,932,688 |
|
|
|
|
|
|
— |
|
|
|
23,575,020 |
|
|
|
— |
|
|
|
23,575,020 |
|
|
|
|
|
|
— |
|
|
|
78,130,847 |
|
|
|
— |
|
|
|
78,130,847 |
|
|
|
|
|
|
— |
|
|
|
9,716,546 |
|
|
|
— |
|
|
|
9,716,546 |
|
|
|
|
|
|
— |
|
|
|
29,401,945 |
|
|
|
— |
|
|
|
29,401,945 |
|
|
|
|
|
|
— |
|
|
|
17,888,213 |
|
|
|
— |
|
|
|
17,888,213 |
|
|
|
|
|
|
— |
|
|
|
16,586,547 |
|
|
|
— |
|
|
|
16,586,547 |
|
|
|
|
|
|
— |
|
|
|
43,382,207 |
|
|
|
— |
|
|
|
43,382,207 |
|
|
|
|
|
|
8,532,507 |
|
|
|
4,809,023 |
|
|
|
— |
|
|
|
13,341,530 |
|
|
|
|
|
|
8,948,660 |
|
|
|
71,598,019 |
|
|
|
— |
|
|
|
80,546,679 |
|
|
|
|
|
|
375,333,264 |
|
|
|
— |
|
|
|
— |
|
|
|
375,333,264 |
|
|
|
|
|
|
454,629,283 |
|
|
|
458,327,830 |
|
|
|
— |
|
|
|
912,957,113 |
|
|
|
|
|
|
— |
|
|
|
775,185 |
|
|
|
— |
|
|
|
775,185 |
|
Total Investments, at fair value |
|
|
|
$ |
454,629,283 |
|
|
$ |
459,103,015 |
|
|
$ |
— |
|
|
$ |
913,732,298 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Other Financial Instruments+ |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
$ |
— |
|
|
$ |
(3,711,915 |
) |
|
$ |
— |
|
|
$ |
(3,711,915 |
) |
|
|
|
|
|
(182,284 |
) |
|
|
— |
|
|
|
— |
|
|
|
(182,284 |
) |
|
|
|
|
$ |
(182,284 |
) |
|
$ |
(3,711,915 |
) |
|
$ |
— |
|
|
$ |
(3,894,199 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
ˆ |
|
See Note 2, “Significant Accounting Policies” in the
Notes to Financial Statements for additional information. |
+ |
|
Other Financial Instruments are derivatives not reflected in the
Portfolio of Investments and may include open forward foreign currency contracts, equity forwards, futures, swaps, and written options. Forward foreign
currency contracts, equity forwards and futures are valued at the unrealized gain (loss) on the instrument. Swaps and written options are valued at the
fair value of the instrument. |
# |
|
The earlier close of the foreign markets gives rise to the
possibility that significant events, including broad market moves, may have occurred in the interim and may materially affect the value of those
securities. To account for this, the Fund may frequently value many of its foreign equity securities using fair value prices based on third party
vendor modeling tools to the extent available. Accordingly, a portion of the Fund’s investments are categorized as Level 2
investments. |
ING Global Equity Dividend and Premium Opportunity Fund
Open Futures Contracts on August 31, 2013:
Contract Description
|
|
|
|
Number
of Contracts
|
|
Expiration
Date
|
|
Notional
Value
|
|
Unrealized
Appreciation/
(Depreciation)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
31 |
|
|
|
09/20/13 |
|
|
$ |
3,078,430 |
|
|
$ |
(26,869 |
) |
|
|
|
|
|
210 |
|
|
|
09/12/13 |
|
|
|
14,281,968 |
|
|
|
(77,357 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
$ |
17,360,398 |
|
|
$ |
(104,226 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(47 |
) |
|
|
09/20/13 |
|
|
|
(3,833,555 |
) |
|
|
(78,058 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
$ |
(3,833,555 |
) |
|
$ |
(78,058 |
) |
See Accompanying Notes to Financial
Statements
3
ING GLOBAL EQUITY DIVIDEND AND
PREMIUM OPPORTUNITY FUND |
PORTFOLIO OF INVESTMENTS
AS OF AUGUST 31, 2013 (UNAUDITED) (CONTINUED) |
ING Global Equity Dividend and Premium Opportunity Fund
Written OTC Options on August 31, 2013:
Number of
Contracts/Notional
Amount
|
|
|
|
Counterparty
|
|
Description
|
|
Exercise
Price
|
|
Expiration
Date
|
|
Premiums
Received
|
|
Fair Value
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Call on Euro Stoxx 50® Index |
|
|
2,814.373 |
EUR |
|
|
09/20/13 |
|
|
$ |
399,566 |
|
|
$ |
(83,765 |
) |
|
|
|
|
|
|
Call on Euro Stoxx 50® Index |
|
|
2,716.690 |
EUR |
|
|
09/06/13 |
|
|
|
434,335 |
|
|
|
(220,471 |
) |
|
|
|
|
|
|
Call on Euro Stoxx 50® Index |
|
|
2,838.432 |
EUR |
|
|
10/04/13 |
|
|
|
422,104 |
|
|
|
(110,713 |
) |
|
|
|
|
|
|
|
|
|
6,603.140 |
GBP |
|
|
09/20/13 |
|
|
|
988,839 |
|
|
|
(156,098 |
) |
|
|
|
|
|
|
|
|
|
6,562.550 |
GBP |
|
|
09/06/13 |
|
|
|
1,025,801 |
|
|
|
(52,757 |
) |
|
|
|
|
|
|
|
|
|
6,468.471 |
GBP |
|
|
10/04/13 |
|
|
|
987,649 |
|
|
|
(712,910 |
) |
|
|
|
|
|
|
|
|
|
14,479.062 |
JPY |
|
|
09/20/13 |
|
|
|
831,026 |
|
|
|
(53,087 |
) |
|
|
|
|
|
|
|
|
|
13,633.180 |
JPY |
|
|
10/04/13 |
|
|
|
854,920 |
|
|
|
(511,726 |
) |
|
|
|
|
|
|
|
|
|
14,765.536 |
JPY |
|
|
09/06/13 |
|
|
|
843,991 |
|
|
|
(402 |
) |
|
|
|
|
|
|
|
|
|
1,656.989 |
USD |
|
|
10/04/13 |
|
|
|
1,925,140 |
|
|
|
(1,000,647 |
) |
|
|
|
|
|
|
|
|
|
1,702.546 |
USD |
|
|
09/20/13 |
|
|
|
1,691,982 |
|
|
|
(89,094 |
) |
|
|
|
|
|
|
|
|
|
1,683.650 |
USD |
|
|
09/06/13 |
|
|
|
1,807,984 |
|
|
|
(22,624 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
1.353 |
USD |
|
|
10/21/13 |
|
|
|
65,000 |
|
|
|
(48,334 |
) |
|
|
|
|
|
|
|
|
|
1.356 |
USD |
|
|
09/20/13 |
|
|
|
90,000 |
|
|
|
(8,095 |
) |
|
|
|
|
|
|
|
|
|
1.377 |
USD |
|
|
11/20/13 |
|
|
|
89,600 |
|
|
|
(37,478 |
) |
|
|
|
|
|
|
|
|
|
1.572 |
USD |
|
|
10/21/13 |
|
|
|
211,575 |
|
|
|
(224,700 |
) |
|
|
|
|
|
|
|
|
|
1.588 |
USD |
|
|
09/20/13 |
|
|
|
294,000 |
|
|
|
(30,689 |
) |
|
|
|
|
|
|
|
|
|
1.603 |
USD |
|
|
11/20/13 |
|
|
|
220,000 |
|
|
|
(121,376 |
) |
|
|
|
|
|
|
|
|
|
91.200 |
USD |
|
|
09/20/13 |
|
|
|
225,000 |
|
|
|
(9,074 |
) |
|
|
|
|
|
|
|
|
|
91.580 |
USD |
|
|
11/20/13 |
|
|
|
126,000 |
|
|
|
(90,111 |
) |
|
|
|
|
|
|
|
|
|
94.170 |
USD |
|
|
10/21/13 |
|
|
|
143,000 |
|
|
|
(127,764 |
) |
Total Written OTC Options |
|
|
$ |
13,677,512 |
|
|
$ |
(3,711,915 |
) |
See Accompanying Notes to Financial
Statements
4
Item 7. Disclosure of Proxy Voting Policies and Procedures for Closed-end Management Investment
Companies.
Not applicable.
Item 8. Portfolio Managers of Closed-end Management Investment Companies.
Not applicable.
Item 9. Purchases of Equity Securities by Closed-end Management
Investment Company and Affiliated Purchasers.
Not applicable.
Item 10. Submission of Matters to a Vote of Security Holders.
The Board has a
Nominating Committee for the purpose of considering and presenting to the Board candidates it proposes for nomination to fill Independent Trustee vacancies on the Board. The Committee currently consists of all Independent Trustees of the Board. (6
individuals). The Nominating Committee operates pursuant to a Charter approved by the Board. The primary purpose of the Nominating Committee is to consider and present to the Board the candidates it proposes for nomination to fill vacancies on the
Board. In evaluating candidates, the Nominating Committee may consider a variety of factors, but it has not at this time set any specific minimum qualifications that must be met. Specific qualifications of candidates for Board membership will be
based on the needs of the Board at the time of nomination.
The Nominating Committee is willing to consider nominations received from
shareholders and shall assess shareholder nominees in the same manner as it reviews its own nominees. A shareholder nominee for director should be submitted in writing to the Fund’s Secretary. Any such shareholder nomination should include at a
minimum the following information as to each individual proposed for nomination as trustee: such individual’s written consent to be named in the proxy statement as a nominee (if nominated) and to serve as a trustee (if elected), and all
information relating to such individual that is required to be disclosed in the solicitation of proxies for election of trustees, or is otherwise required, in each case under applicable federal securities laws, rules and regulations.
The secretary shall submit all nominations received in a timely manner to the Nominating Committee. To be
timely, any such submission must be delivered to the Fund’s Secretary not earlier than the 90th day prior to such meeting and not later than the close of business on the later of the 60th day prior to such meeting or the 10th day following the
day on which public announcement of the date of the meeting is first made, by either disclosure in a press release or in a document publicly filed by the Fund with the Securities and Exchange Commission.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, the registrant has duly caused this report to be signed on its behalf by the undersigned,
thereunto duly authorized.
(Registrant): ING Global Equity Dividend and Premium Opportunity Fund
|
|
|
| By |
|
/s/ Shaun P. Mathews |
|
|
Shaun P. Mathews |
|
|
President and Chief Executive Officer |
Date: November 5, 2013
Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, this report has been signed below by the following persons on behalf of the registrant and in
the capacities and on the dates indicated.
|
|
|
| By |
|
/s/ Shaun P. Mathews |
|
|
Shaun P. Mathews President
and Chief Executive Officer |
Date: November 5, 2013
|
|
|
| By |
|
/s/ Todd Modic |
|
|
Todd Modic Senior Vice
President and Chief Financial Officer |
Date: November 5, 2013
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