SCOTTSDALE, Ariz., Dec. 15, 2011 /PRNewswire/
-- www.ingfunds.com -- ING Investments, LLC announced the
distributions on the common shares of seven of its closed-end funds
(each a "Fund" and collectively, the "Funds"): ING Global Equity
Dividend and Premium Opportunity Fund (NYSE: IGD) and ING
International High Dividend Equity Income Fund (NYSE: IID) declare
monthly distributions. ING Infrastructure, Industrials and
Materials Fund (NYSE: IDE), ING Global Advantage and Premium
Opportunity Fund (NYSE: IGA), ING Risk Managed Natural Resources
Fund (NYSE: IRR), ING Asia Pacific High Dividend Equity Income Fund
(NYSE: IAE) and ING Emerging Markets High Dividend Equity Fund
(NYSE: IHD) declare quarterly distributions.
The distributions announced today for IGD, IID, IGA, IRR and IAE
are reduced from distributions paid in prior periods in an effort
to align the Funds distributions with the current conditions in the
equity markets. The Funds' management considered a number of
factors before deciding to decrease each Fund's distribution,
including general market outlook, the dividend yield expectations
of the underlying equity portfolios and prevailing implied option
volatilities.
With respect to each Fund, the distribution will be paid on
January 16, 2012, to shareholders of
record on December 30, 2011. The
ex-dividend date is December 28,
2011. The distribution per share for each Fund is as
follows:
Fund
|
Distribution Per Share
|
Change
from previous
period
|
|
Monthly
Distributions
|
|
|
|
|
|
ING Global
Equity Dividend and Premium Opportunity Fund (NYSE: IGD)
|
$0.093
|
-$0.007
|
|
|
|
ING
International High Dividend Equity Income Fund (NYSE:
IID)
|
$0.086
|
-$0.006
|
|
|
|
Quarterly Distributions
|
|
|
|
|
|
ING
Infrastructure, Industrials and Materials Fund (NYSE:
IDE)
|
$0.450
|
No
change
|
|
|
|
ING Global
Advantage and Premium Opportunity Fund (NYSE: IGA)
|
$0.312
|
-$0.023
|
|
|
|
ING Risk
Managed Natural Resources Fund (NYSE: IRR)
|
$0.330
|
-$0.033
|
|
|
|
ING Asia
Pacific High Dividend Equity Income Fund (NYSE: IAE)
|
$0.396
|
-$0.030
|
|
|
|
ING
Emerging Markets High Dividend Equity Fund (NYSE: IHD)
|
$0.400
|
No
change
|
|
|
|
Each Fund intends to make regular monthly or quarterly
distributions based on the past and projected performance of the
Fund. The amount of distributions may vary, depending on a number
of factors. As portfolio and market conditions change, the rate of
distributions on the common shares may change. There can be
no assurance that a Fund will be able to declare a distribution in
each period. Past Performance is no guarantee of future
results.
The tax treatment and characterization of a Fund's distributions
may vary significantly from time to time depending on the net
investment income of the Fund and whether the Fund has realized
gains or losses from its options strategy versus gain or loss
realizations in the equity securities in the portfolio. Each Fund's
distributions will normally reflect past and projected net
investment income, and may include income from dividends and
interest, capital gains and/or a return of capital.
The portion of each Fund's distributions estimated to come from
the Fund's option strategy, for tax purposes, may be treated as a
combination of long-term and short-term capital gains, and/or a
return of capital. The tax character of each Fund's option strategy
is largely determined by movements in, and gain and loss
realizations in the underlying equity portfolio. Under certain
conditions, federal tax regulations may also cause some or all of
the return of capital to be taxed as ordinary income. The final tax
characteristics of the distributions cannot be determined with
certainty until after the end of the calendar year, and will be
reported to shareholders at that time.
Monthly Distributions
IGD estimates that for the current fiscal year as of
November 30, 2011, approximately 30%
of each distribution is characterized as net investment income and
70% is characterized as return of capital.
IID estimates that for the current fiscal year as of
November 30, 2011, approximately 27%
of each distribution is characterized as net investment income, 44%
is characterized as short-term capital gain and 29% is
characterized as return of capital.
Quarterly Distributions
IDE estimates that for the current fiscal year as of
September 30, 2011, approximately 19%
of each distribution is characterized as net investment income, 56%
is characterized as short-term capital gain and 25% is
characterized as long-term capital gain.
IGA estimates that for the current fiscal year as of
September 30, 2011, approximately
100% of each distribution is characterized as short-term capital
gain.
IRR estimates that for the current fiscal year as of
September 30, 2011, approximately 4%
of each distribution is characterized as net investment income, 57%
is characterized as short-term capital gain and 39% is
characterized as return of capital.
IAE estimates that for the current fiscal year as of
September 30, 2011, approximately 25%
of each distribution is characterized as net investment income and
75% is characterized as short-term capital gain.
IHD estimates that for the current fiscal year as of
September 30, 2011, approximately 21%
of each distribution is characterized as net investment income, 49%
is characterized as short-term capital gain and 30% is
characterized as return of capital.
Certain statements made on behalf of the Funds in this release
are forward- looking statements. The Funds actual future results
may differ significantly from those anticipated in any
forward-looking statements due to numerous factors, including but
not limited to a decline in value in equity markets in general or
the Funds investments specifically. Neither the Funds nor ING
undertake any responsibility to update publicly or revise any
forward-looking statement.
This information should not be used as a basis for legal and/or
tax advice. In any specific case, the parties involved should seek
the guidance and advice of their own legal and tax counsel.
ING Investment Management U.S. (ING IM U.S.) is a leading active
asset management firm. As of September 30,
2011, ING IM U.S. manages approximately $163 billion for both affiliated and external
institutions as well as individual investors. ING IM U.S. has the
experience and resources to invest responsibly across asset
classes, geographies and investment styles. Through our global
asset management network, we provide clients with access to
domestic, regional and global investment solutions.
SHAREHOLDER INQUIRIES: ING Funds Shareholder Services at (800)
992-0180;
www.ingfunds.com
SOURCE ING