Investment Management

Becoming Voya™ Investment Management in May 2014

ING International High Dividend Equity Income Fund

Fund Description

Overview

  • Invests in 110–270 in dividend-producing equity securities of foreign companies
  • Target portfolio allocation: 50% European equity, 40% Asia Pacific equity,
    10% Rest-of-the-World equity
  • Sell call options on selected indices, and/or on equity securities and/or ETFs, with the underlying value of such calls representing 20–50% of the value of Fund portfolio holdings

Investment Objective

This Closed-End Fund seeks total return through a combination of current income and realized gains with a secondary objective of long-term capital appreciation.

Daily Prices as of 04/23/2014

Net Asset Value (NAV) $9.70
Closing Price $9.40
Price Change -0.04
Premium/(Discount) -3.09

Fund Facts

Ticker Symbol IID
CUSIP 45684Q100
Inception Date Sep 25, 2007
Dividends Paid Monthly

More Info

Management Team

Martin Jansen

Portfolio Manager

Managed Fund since 2007

Manu Vandenbulck

Portfolio Manager

Managed Fund since 2007

Nicolas Simar

Portfolio Manager

Managed Fund since 2007

Edwin Cuppen, RBA, CAIA

Portfolio Manager

Managed Fund since 2010

Willem van Dommelen

Portfolio Manager

Managed Fund since 2010

David Rabinowitz

Portfolio Manager

Managed Fund since 2012

Robert Davis

Portfolio Manager

Managed Fund since 2012

More Info

Average Annual Total Returns %

As of 03/31/2014 As of 03/31/2014 YTD 1 YR 3 YR 5 YR 10 YR Inception (09/25/07) Gross Exp. Net Exp. 1 , 2
Net Asset Value +2.27 +12.07 +5.19 +14.46 +1.84 1.5% 1.25%
Market Value -0.96 +0.04 +2.04 +11.57 +0.38    
Net Asset Value +2.27 +12.07 +5.19 +14.46 +1.84 1.5% 1.25%
Market Value -0.96 +0.04 +2.04 +11.57 +0.38    

View Detailed Performance

1The Adviser has contractually agreed to limit expenses of the Fund.  This expense limitation agreement excludes interest, taxes, brokerage, and extraordinary expenses and may be subject to possible recoupment.  Please see the Fund's prospectus for more information. 

2The expense limit will continue through at least March 1, 2014.  Expenses are being waived to the contractual cap.

Past performance is no guarantee of future results. The performance quoted represents past performance. Investment return and principal value of an investment will fluctuate, and shares, when redeemed, may be worth more or less than their original cost. Current performance may be lower or higher than the performance data quoted. This chart does not take into consideration account transaction fees or brokerage commissions. It is important to note that the Fund has a limited operating history. Performance over a longer period of time may be more meaningful than short-term performance.

Return @ NAV Total Return at net asset value has been calculated assuming a purchase at net asset value at the beginning of each period and a sale at net asset value at the end of each period and assumes reinvestment of dividends and capital gains distribution, if any, in accordance with the provisions of the dividend reinvestment plan. Total return at net asset value is not annualized for periods less than one year.

Return @ Market Value Total Return at market value measures the change in the market value of your investment assuming reinvestment of dividends and capital gains distributions, if any, in accordance with the provisions of the Fund’s dividend reinvestment plan. Total return at market value is not annualized for periods less than one year.

These figures will differ depending on the level of any discount from or premium to NAV at which the Fund’s shares traded during the period.

Principal Risks

All investing involves risks of fluctuating prices and the uncertainties of rates of return and yield inherent in investing. Price volatility, liquidity, and other risks that accompany an investment in equity securities of domestic and foreign companies, and small and mid sized capitalized companies. International investing does pose special risks including currency fluctuation, economic and political risks not found in investments that are solely domestic. Risks of foreign investing are generally intensified for investments in emerging markets.

Options Risk

The Fund may purchase put and call options and may write (sell) put options and call options and is subject to Options Risk. The Fund will realize a gain or loss upon the expiration or closing of the option contract. When an option is exercised, the proceeds on sales of the underlying security for a written call option or purchased put option or the purchase cost of the security for a written put option or a purchased call option is adjusted by the amount of premium received or paid. The risk in writing a call option is that the Fund gives up the opportunity for profit if the market price of the security increases and the option is exercised. The risk in buying an option is that the Fund pays a premium whether or not the option is exercised. Risks may also arise from an illiquid secondary market or from the inability of counterparties to meet the terms of the contract. A decision as to whether, when and how to buy or sell options under the Fund’s strategy involves the exercise of skill and judgment, and even a well-conceived transaction may be unsuccessful to some degree because of market behavior or unexpected events. When an option purchased or sold by the Fund is exercised or closed out, the Fund may be required to sell portfolio securities or to deliver portfolio securities to the option purchaser to satisfy its obligations when it would not otherwise choose to do so, or the Fund may choose to sell portfolio securities to realize gains to offset the losses realized upon option exercise. Such sales or delivery would involve transaction costs borne by the Fund and may also result in realization of taxable capital gains, including short-term capital gains taxed at ordinary income tax rates, and may adversely impact the Fund’s after-tax returns.

This Fund has additional risks which you should consider, such as: Market Discount Risk, Investment and Market Risk, Emerging Market Risk, Foreign (non U.S.) Currency Risk, Asia pacific Regional and Country Risk, Option Risk, Index Call Option Risk, Issuer Risk, Small-Cap and Mid-Cap Companies Risk, Derivatives Risk, Interest Rate Risk, Distribution Risk, Tax Risk, Portfolio Turnover Risk, Management Risk, Initial Public Offering (“IPOs”) Risk, Depository Receipts Risk, Securities Lending Risk, Non-Diversification Risk, Market Disruption and Geo-Political Risk, Dividend Risk, Temporary Defensive Strategies Risk. These and other risks are described more fully in the Fund’s prospectus and the most current annual or semi-annual report. The prospectus should be read carefully before investing. Consider the Fund’s investment objective, risks, and charges and expenses carefully before investing.