Fund Description

The fund was incepted in July 1996. ING Investments is the fund's adviser and ING Investment Management Advisors B.V. is the fund's sub-adviser. The fund seeks long-term capital appreciation through investment primarily in equity securities of Russian companies. The fund invests at least 80% of its total assets in equity securities (including common and preferred stocks, warrants and convertible securities) of Russian companies. The portfolio managers may invest in companies with any market capitalization. The fund may invest the other 20% of its assets in debt securities issued by Russian companies and debt securities issued or guaranteed by the Russian government without any restrictions based on investment quality or maturity of the debt securities. The fund may also invest in the equity securities of issuers outside of Russia, which the fund believes will experience growth in revenue and profits from participation in the development of the economies of the former Soviet Union. Dividends and capital gains, if any, are distributed annually.