October 15, 2007
(d)(5)(iv)
October 15, 2007
Xxxxx Xxxxxxxx
Chief Operating Officer
ING Clarion Real Estate Securities L.P.
000 Xxxxx Xxxxxx-Xxxxxxx Xxxx
Xxxxx 000
Xxxxxx, XX 00000
Chief Operating Officer
ING Clarion Real Estate Securities L.P.
000 Xxxxx Xxxxxx-Xxxxxxx Xxxx
Xxxxx 000
Xxxxxx, XX 00000
Dear Xx. Xxxxxxxx:
Pursuant to the Sub-Advisory Agreement dated September 23, 2002 between ING Investments, LLC
and ING Clarion Real Estate Securities L.P., as amended (the “Agreement”), we hereby notify you of
our intention to retain you as Sub-Adviser to render investment advisory services to ING
Asia-Pacific Real Estate Fund and ING European Real Estate Fund, each a newly established series of
ING Mutual Funds (each a “Fund,” collectively, the “Funds”), effective October 15, 2007, upon all
of the terms and conditions set forth in the Agreement. Upon your acceptance, the Agreement will be
modified to give effect to the foregoing by adding the above-mentioned Funds to the Amended
Schedule A of the Agreement. The Amended Schedule A, with the annual sub-adviser fee
indicated for the Funds, is attached hereto.
In addition, the services of the Sub-Adviser to each Fund are deemed to be exclusive for two
years, commencing on the effective date of this Agreement. During the term of this provision
Sub-Adviser shall not provide advisory, sub-advisory or similar services to any investment company
that is managed in the same style as the Funds. This provision is not intended to limit
Sub-Adviser’s ability to provide advisory services to the Funds.
Please signify your acceptance to act as Sub-Adviser under the Agreement with respect to the
Funds by signing below where indicated.
Very sincerely, | ||||||
By: | ||||||
Name: | ||||||
Title: | ||||||
ING Investments, LLC |
ACCEPTED AND AGREED TO: | ||||
ING Clarion Real Estate Securities L.P. | ||||
By: |
||||
Name:
|
||||
Title:
|
, Duly Authorized | |||
0000 X. Xxxxxxxxxx Xxxxx Xx.
|
Tel: 000-000-0000 | ING Investments,LLC | ||
Scottsdale, AZ 00000-0000 |
Fax: 000-000-0000 | |||
xxx.xxxxxxxx.xxx |
AMENDED SCHEDULE A
with respect to the
SUB-ADVISORY AGREEMENT
between
ING INVESTMENTS, LLC
and
ING CLARION REAL ESTATE SECURITIES L.P.
Series | Annual Sub-Adviser Fee | |
(as a percentage of average daily net assets) | ||
ING Asia-Pacific Real Estate Fund
|
0.50% on the first $250 million of assets | |
0.45% on the next $250 million of assets | ||
0.40% thereafter | ||
ING European Real Estate Fund
|
0.50% on the first $250 million of assets | |
0.45% on the next $250 million of assets | ||
0.40% thereafter | ||
ING Global Real Estate Fund
|
0.40% on the first $250 million of assets | |
0.375% on the next $250 million of assets | ||
0.35% thereafter | ||
ING International Real Estate Fund
|
0.50% on the first $250 million of assets | |
0.45% on the next $250 million of assets | ||
0.40% thereafter |