July 24, 2009 Bev Hendry Chief Operating Officer Hansberger Global Investors, Inc.
Exhibit
77(e)(7)
July
24, 2009
Xxx
Xxxxxx
Chief
Operating Officer
Xxxxxxxxxx
Global Investors, Inc.
000
Xxxx Xxx Xxxx Xxxxxxxxx, Xxxxx 0000
Fort
Lauderdale, Florida 33301
|
Re:
|
Sub-Advisory
Agreement between ING Investments, LLC and Xxxxxxxxxx Global Investors,
Inc. (the “Agreement”)
|
Pursuant
to the Sub-Advisory Agreement dated March 1, 2007 between ING Investments, LLC
and Xxxxxxxxxx Global Investors, Inc., as amended (the “Agreement”), we hereby
notify you of our intention to retain you as Sub-Adviser to render investment
advisory services to ING International Growth Opportunities Fund (the “Fund”), a
series of ING Mutual Funds, effective July 24, 2009, upon all of the terms and
conditions set forth in the Agreement, until at least August 7, 2009, at which
time the Fund is scheduled to merge with and into ING Capital Appreciation Fund,
a series of ING Mutual Funds, subject to shareholder
approval. Upon your acceptance, the Agreement will be modified to
give effect to the foregoing by adding the Fund to Schedule
A of the Agreement. The Amended Schedule
A, with the annual sub-advisory fee indicated for the Fund, is attached
hereto.
Please
signify your acceptance to act as Sub-Adviser under the Agreement with respect
to the Fund by signing below where indicated.
/s/
Xxxx Xxxxx
Xxxx
Xxxxx
Senior
Vice President
ING
Investments, LLC
ACCEPTED
AND AGREED TO:
Xxxxxxxxxx
Global Investors, Inc.
By: /s/ Xxx Xxxxxx
Name: Xxx Xxxxxx
Title: Chief Operating
Officer, Duly Authorized
|
0000
X. Xxxxxxxxxx Xxxxx Xx.
Scottsdale,
AZ 00000-0000
|
Tel:
000-000-0000
Fax:
000-000-0000
xxx.xxxxxxxx.xxx
|
ING
Investments, LLC
|
AMENDED
SCHEDULE A
with
respect to the
SUB-ADVISORY
AGREEMENT
between
ING
INVESTMENTS, LLC
and
XXXXXXXXXX
GLOBAL INVESTORS, INC.
|
Series
|
Annual Sub-Advisor
Fee
|
|
(as
a percentage of average daily net assets)
|
|
|
ING
International Capital Appreciation Fund
|
0.45%
of the first $500 million of assets;
|
|
0.40%
of the next $500 million of assets; and
|
|
|
0.35%
of assets in excess of $1 billion
|
|
|
ING
International Growth Opportunities Fund
|
0.45%
|
2
