(d)(11)(iv)
[LOGO]
November 1, 2007
ING Mutual Funds
0000 Xxxx Xxxxxxxxxx Xxxxx Xxxx
Xxxxxxxxxx, XX 00000-0000
Re: Expense Limitations
Ladies and Gentlemen:
By execution of this letter agreement (the "Agreement"), intending to be
legally bound hereby, ING Investments, LLC ("ING Investments"), the Adviser to
ING Greater China Fund (the "Fund"), agrees that ING Investments shall, from
November 1, 2007 through and including March 1, 2009, waive all or a portion of
its investment management fee and/or reimburse expenses in amounts necessary so
that after such waivers and/or reimbursements, the maximum total operating
expense ratios of the Fund shall be all follows:
Maximum Operating Expense Limit
(as a percentage of average net assets)
--------------------------------------
Name of Fund Classes
------------ --------------------------------------
A B C I
---- ---- ---- ----
ING Greater China Fund.................. 2.10% 2.85% 2.85% 1.85%
ING Investments acknowledges that any fees waived or expenses reimbursed
during the term of this Agreement shall not be eligible for recoupment at any
time in the future.
Sincerely,
Name: /s/ Xxxxx X. Xxxxx
--------------------------
Title: SVP
0000 Xxxx Xxxxxxxxxx Xxxxx Xxxx Tel: 000.000.0000 ING Investments, LLC
Xxxxxxxxxx, XX 00000-0000 Fax: 000.000.0000
xxx.xxxxxxxx.xxx
