UNITED STATES
SECURITIES AND EXCHANGE COMMISSION

Washington, DC 20549

FORM N-Q

QUARTERLY SCHEDULE OF PORTFOLIO HOLDINGS OF REGISTERED
MANAGEMENT INVESTMENT COMPANY

ING Clarion Global Real Estate Income Fund

(Exact name of registrant as specified in charter)

201 King of Prussia Road, Radnor, PA 19087
(Address of principal executive offices)		(Zip code)

T. Ritson Ferguson, President and Chief Executive Officer

ING Clarion Global Real Estate Income Fund

201 King of Prussia Road

Radnor, PA 19087

(Name and address of agent for service)

Registrant’s telephone number, including area code: 1-888-711-4272

Date of fiscal year end: December 31

Date of reporting period: March 31, 2008

     Form N-Q is to be used by management investment companies, other than small business investment companies registered on Form N-5 (§§ 239.24 and 274.5 of this chapter), to file reports with the Commission, not later than 60 days after the close of the first and third fiscal quarters, pursuant to rule 30b1-5 under the Investment Company Act of 1940 (17 CFR 270.30b1-5). The Commission may use the information provided on Form N-Q in its regulatory, disclosure review, inspection, and policymaking roles.

     A registrant is required to disclose the information specified by Form N-Q, and the Commission will make this information public. A registrant is not required to respond to the collection of information contained in Form N-Q unless the Form displays a currently valid Office of Management and Budget (“OMB”) control number. Please direct comments concerning the accuracy of the information collection burden estimate and any suggestions for reducing the burden to the Secretary, Securities and Exchange Commission, 450 Fifth Street, NW, Washington, DC 20549-0609. The OMB has reviewed this collection of information under the clearance requirements of 44 U.S.C. § 3507.

 

 

Item 1. Schedule of Investments.

     Attached hereto.

ING Clarion Global Real Estate Income Fund
Portfolio of Investments / March 31, 2008 (unaudited)

						U.S. $
Shares						Value
				Long-Term Investments — 146.2%
				Common Stock — 125.7%
				Real Estate Investment Trusts (“REIT”) — 125.7%
				Australia — 11.5%
	29,967,000			Dexus Property Group		$	46,093,818
	11,059,530			Goodman Group			43,512,442
	14,384,178			Macquarie CountryWide Trust			15,362,802
	4,422,427			Westfield Group			71,858,837
							176,827,899
				Brazil — 0.7%
	1,132,100			BR Malls Participacoes SA (a)			10,100,520
				Canada — 11.9%
	1,761,900			Boardwalk Real Estate Investment Trust			65,252,376
	200,100			Calloway Real Estate Investment Trust			3,937,449
	264,600			Calloway Real Estate Investment Trust (b)			5,206,641
	500,000			Crombie Real Estate Investment Trust (b)			5,335,997
	884,800			H&R Real Estate Investment Trust			16,850,048
	2,282,900			InnVest Real Estate Investment Trust			22,249,403
	440,000			InnVest Real Estate Investment Trust (b)			4,288,290
	700,000			Primaris Retail Real Estate Investment Trust (b)			11,352,273
	2,447,000			RioCan Real Estate Investment Trust			49,366,892
							183,839,369
				Finland — 2.3%
	2,528,457			Citycon Oyj			15,545,090
	1,470,267			Sponda Oyj			19,266,715
							34,811,805
				France — 10.6%
	403,500			Societe de la Tour Eiffel			60,253,845
	398,078			Unibail-Rodamco			102,822,551
							163,076,396
				Hong Kong — 7.7%
	20,000,000			Agile Property Holdings Ltd.			21,097,670
	14,611,500			China Overseas Land & Investment Ltd.			26,959,422
	8,133,000			Hang Lung Properties Ltd.			28,789,473
	3,062,900			Hongkong Land Holdings Ltd.			12,649,777
	1,750,000			Sun Hung Kai Properties Ltd.			27,297,198
	1,153,000			The Link REIT			2,557,004
							119,350,544
				Japan — 4.7%
	2,388			Japan Retail Fund Investment Corp.			15,090,692
	1,105,000			Mitsubishi Estate Co., Ltd.			26,865,927
	968,000			Mitsui Fudosan Co., Ltd.			19,246,215
	934			Nippon Building Fund, Inc.			11,823,379
							73,026,213
				Netherlands — 14.5%
	116,780			Corio NV			10,269,928
	357,401			Eurocommercial Properties NV			20,042,056
	1,136,730			Nieuwe Steen Investments NV			32,673,868
	417,161			VastNed Retail NV			44,525,800
	934,400			Wereldhave NV			115,694,359
							223,206,011
				New Zealand — 0.6%
	9,050,000			Goodman Property Trust			9,463,096
				Singapore — 0.2%
	500,000			Capitaland Ltd.			2,303,813
				United Kingdom — 10.8%
	1,367,200			British Land Co. Plc			24,931,302
	945,400			Great Portland Estates Plc			9,949,206
	1,209,242			Hammerson Plc			26,773,506
	1,902,400			Land Securities Group Plc			57,055,553
	603,400			Liberty International Plc			11,698,749
	3,621,876			Segro Plc			36,568,246
							166,976,562

See previously submitted notes to financial statements for the annual period ended December 31, 2007.

						U.S. $
Shares						Value
				United States — 50.2%
	115,300			Acadia Realty Trust			2,784,495
	197,300			AMB Property Corp.			10,737,066
	898,200			American Campus Communities, Inc.			24,574,752
	11,422			Apartment Investment & Management Co., Class A			409,022
	285,800			BioMed Realty Trust, Inc.			6,827,762
	393,200			Boston Properties, Inc.			36,201,924
	1,215,230			Brandywine Realty Trust			20,610,301
	848,300			Camden Property Trust			42,584,660
	1,231,800			Cedar Shopping Centers, Inc.			14,387,424
	219,900			Douglas Emmet, Inc.			4,850,994
	1,208,500			Extra Space Storage, Inc.			19,565,615
	294,000			Federal Realty Investment Trust			22,917,300
	1,211,100			First Industrial Realty Trust, Inc.			37,410,879
	1,655,400			GMH Communities Trust			14,368,872
	407,700			General Growth Properties, Inc.			15,561,909
	675,000			Gramercy Capital Corp.			14,127,750
	941,484			HRPT Properties Trust			6,336,187
	856,200			Health Care REIT, Inc.			38,640,306
	371,000			Hersha Hospitality Trust			3,350,130
	475,000			Highwoods Properties, Inc.			14,758,250
	755,400			iStar Financial, Inc.			10,598,262
	1,260,990			Liberty Property Trust			39,229,399
	637,700			Mid-America Apartment Communities, Inc.			31,782,968
	570,700			National Retail Properties, Inc.			12,583,935
	2,784,400			Nationwide Health Properties, Inc.			93,973,500
	1,994,070			OMEGA Healthcare Investors, Inc.			34,617,055
	994,000			Pennsylvania Real Estate Investment Trust			24,243,660
	200,000			Ramco-Gershenson Properties Trust			4,222,000
	498,800			Regency Centers Corp.			32,302,288
	530,735			SL Green Realty Corp.			43,238,980
	171,100			Sovran Self Storage, Inc.			7,307,681
	770,000			Strategic Hotels & Resorts, Inc.			10,110,100
	751,900			The Macerich Co.			52,836,013
	200,000			U-Store-It Trust			2,266,000
	712,120			Verde Realty (a)(c)			23,499,960
							773,817,399
				Total Common Stock
				(cost $1,549,204,058)			1,936,799,627
				Preferred Stock — 17.8%
				Real Estate Investment Trusts (“REIT”) — 17.8%
				United States — 17.8%
	450,000			Alexandria Real Estate Equities, Inc., Series C			11,466,000
	126,800			AP AIMCAP Corp., Series A			1,331,400
	80,500			Apartment Investment & Management Co., Series U			1,821,715
	400,000			Apartment Investment & Management Co., Series V			8,980,000
	400,000			Apartment Investment & Management Co., Series Y			8,876,000
	174,000			Associated Estates Realty Corp.			4,202,100
	400,000			BioMed Realty Trust, Inc., Series A			8,880,000
	207,700			Cedar Shopping Centers, Inc.			4,802,024
	125,000			Digital Realty Trust, Inc., Series B			2,687,500
	200,800			Duke Realty Corp., Series M			4,511,976
	400,000			Entertainment Properties Trust, Series D			8,112,000
	430,700			Glimcher Realty Trust, Series G			7,334,821
	520,000			Health Care REIT, Inc., Series F			12,474,800
	905,600			Host Hotels & Resorts, Inc., Series E			22,775,840
	210,000			Innkeepers USA Trust, Series C			2,552,823
	1,015,000			iStar Financial, Inc., Series I			13,601,000
	200,000			LaSalle Hotel Properties, Series D			4,304,000
	523,200			LaSalle Hotel Properties, Series E			11,559,476
	520,000			LaSalle Hotel Properties, Series G			10,140,000
	1,000,000			LTC Properties, Inc., Series F			24,180,000
	200,000			Mid-America Apartment Communties, Inc., Series H			4,850,000
	237,100			National Retail Properties, Inc., Series C			5,109,505
	189,600			NorthStar Realty Finance Corp., Series B			2,512,200
	120,000			OMEGA Healthcare Investors, Inc., Series D			3,000,000

See previously submitted notes to financial statements for the annual period ended December 31, 2007.

						U.S. $
Shares						Value
	320,000			PS Business Parks, Inc., Series O			7,128,000
	320,000			Public Storage, Series K			7,580,800
	360,000			Public Storage, Series M			7,491,600
	192,500			SL Green Realty Corp., Series C			4,363,975
	200,000			SL Green Realty Corp., Series D			4,586,000
	275,000			Strategic Hotels & Resorts, Inc. (b)			6,935,170
	400,000			Strategic Hotels & Resorts, Inc., Series B			7,696,000
	363,600			Strategic Hotels & Resorts, Inc., Series C			6,908,400
	368,000			Sunstone Hotel Investors, Inc., Series A			6,900,000
	342,600			Taubman Centers, Inc., Series G			7,958,598
	573,500			Taubman Centers, Inc., Series H			13,150,355
	337,500			W2007 Grace Acquisition I, Inc., Series C			3,543,750
				Total Preferred Stock
				(cost $327,934,123)			274,307,828
				Investment Companies — 2.3%
				United Kingdom — 2.3%
	146,255			Eurocastle Investment Ltd.			1,761,288
	15,495,600			ING UK Real Estate Income Trust Ltd. +			21,250,264
	2,195,278			Invista Foundation Property Trust Ltd.			2,803,299
	547,200			ProLogis European Properties			8,705,340
				Total Investment Companies
				(cost $45,299,438)			34,520,191
				Purchased Options (a) — 0.4%
				Brazil — 0.2%
	438,400			Brascan Residential Properties SA
				expiring 10/22/08 @ $0			2,206,417
				India — 0.2%
	518,800			Unitech Ltd.
				expiring 6/19/08 @ $0			3,571,599
				Total Purchased Options
				(cost $6,482,721)			5,778,016
				Warrants (a) — 0.0%
				Hong Kong — 0.0%
	1,217,625			China Overseas Land & Investment Ltd.
				expiring 8/27/08 @ $0
				(cost $0)			453,705
				Total Long-Term Investments — 146.2%
				(cost $1,928,920,340)			2,251,859,367
				Short-Term Investments — 10.1%
				Money Market Fund — 10.1%
	155,817,592			The Bank of New York Cash Reserve Fund
				(cost $155,817,592)			155,817,592
				Total Investments — 156.3%
				(cost $2,084,737,932)			2,407,676,959
				Other Assets less Liabililties — 2.8%			42,645,637
				Preferred shares, at redemption value — (59.1%)			(910,000,000	)
				Net Assets Applicable to
				Common Shares — 100% (d)		$	1,540,322,596

Affiliate		Gross Additions				Gross Reductions				Dividend Income
ING UK Real Estate Income Trust Ltd.		$	—			$	—			$	475,219

See previously submitted notes to financial statements for the annual period ended December 31, 2007.

Interest Rates Swaps

Notional

Fixed

FAS 157

Termination

Amount

Rate

Floating Rate

Unrealized

Counterparty

Level*

Date

(000)

Paid

Received

Depreciation

Royal Bank of Canada

L2

7/01/2009

$

200,000

4.32

%

1 Month LIBOR

$

(5,579,710

)

Various inputs are used in determining the value of the Portfolio’s investments. These inputs are summarized in the three broad levels listed below.

Level 1 —	quoted prices in active markets for identical securities

Level 2 —	other significant observable inputs (including quoted prices for similar securities, interest rates, prepayment speeds, credit risk, etc.)

Level 3 —	significant unobservable inputs (including the Portfolio’s own assumptions in determining the fair value of investments)

The following is a summary of the inputs used as of March 31, 2008 in valuing the Portfolio’s assets carried at fair value:

		Investments				Other Financial
Valuation inputs		in Securities				Instruments*
Level 1 - Quoted Prices		$	2,241,233,346			$	—
Level 2 - Other Significant Observable Inputs			142,943,653				(5,579,710	)
Level 3 - Significant Unobservable Inputs			23,499,960				—
Total		$	2,407,676,959			$	(5,579,710	)

The following is a reconciliation of assets in which significant unobservable inputs (Level 3) were used in determining fair value:

		Investments
		in Securities
Balance as of 12/31/07		$	23,499,960
Realized gain (loss)			—
Change in unrealized appreciation (depreciation)			—
Net purchases (sales)			—
Transfers in and/or out of Level 3			—
Balance as of 3/31/08		$	23,499,960

See previously submitted notes to financial statements for the annual period ended December 31, 2007.

Item 2. Controls and Procedures.

	(a)		The Trust’s principal executive officer and principal financial officer have evaluated the Trust’s disclosure controls and procedures within 90 days of this filing and have concluded that the Trust’s disclosure controls and procedures were effective, as of that date, in ensuring that information required to be disclosed by the Trust in this Form N-Q was recorded, processed, summarized, and reported timely.
	(b)		The Trust’s principal executive officer and principal financial officer are aware of no changes in the Trust’s internal control over financial reporting that occurred during the Trust’s most recent quarter that has materially affected, or is reasonably likely to materially affect, the Trust’s internal control over financial reporting.

Item 3. Exhibits.

Certification of chief executive officer and chief financial officer pursuant to Section 302 of the Sarbanes-Oxley Act of 2002.

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 Clarion Global Real Estate Income Fund

By:		/s/ T. Ritson Ferguson   T. Ritson Ferguson President and Chief Executive Officer

Date: May 29, 2008

     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/ T. Ritson Ferguson   T. Ritson Ferguson President and Chief Executive Officer

Date: May 29, 2008

By:		/s/ Jonathan A. Blome
		Jonathan A. Blome Treasurer and Chief Financial Officer

Date: May 29, 2008