Investment Management
ING_GNMA_Income_Fund
ING GNMA Income Fund - Class A
Note: Class A Share return calculations with a starting date prior to July 31, 2006 are based on a 4.75% sales charge while returns with a starting date after July 31, 2006 are based on a 2.50% sales charge.
Fund Description
Overview
- GNMA securities have the same credit quality as U.S. Treasury securities but higher yields to compensate for prepayment uncertainty
- Seeks to deliver attractive income and returns by selecting GNMAs that can better withstand the impacts of changing interest rates and prepayment volatility
- One of the oldest mortgage-backed securities funds and the one with the longest manager tenure
Investment Objective
The Fund seeks a high level of current income, consistent with liquidity and safety of principal, through investment primarily in Government National Mortgage Association (GNMA) mortgage-backed securities (also known as GNMA Certificates) that are guaranteed as to the timely payment of principal and interest by the U.S. Government. While the Fund invests in securities guaranteed by the U.S. Government as to timely payments of interest and principal, the Fund shares are not insured or guaranteed.
Daily Prices as of 05/22/2013
| Net Asset Value (NAV) | $8.85 |
|---|---|
| % Change | -0.23 |
| $ Change | -0.02 |
| Public Offering Price (POP) | $9.08 |
| YTD Return | -0.52% |
Fund Facts
| Ticker Symbol | LEXNX |
|---|---|
| CUSIP | 44977C449 |
| Inception Date | Aug 17, 1973 |
| Dividends Paid | Monthly |
| Min. Initial Investment | $1000.00 |
Management Team
Average Annual Total Returns %
| As of 04/30/2013 | YTD | 1 YR | 3 YR | 5 YR | 10 YR |
Inception
(08/17/73) |
Gross Exp. |
Net Exp. 1 , 2 |
|---|---|---|---|---|---|---|---|---|
| Net Asset Value | +0.55 | +2.48 | +4.84 | +5.32 | +4.63 | +6.83 | 0.93% | 0.93% |
| With Sales Charge | -1.95 | -0.05 | +3.98 | +4.79 | +4.12 | +6.70 | ||
| Net Asset Value | +0.05 | +2.51 | +4.87 | +5.18 | +4.56 | +6.83 | 0.93% | 0.93% |
| With Sales Charge | -2.44 | -0.01 | +4.00 | +4.64 | +4.05 | +6.70 |
* Return calculations with a starting date prior to July 31, 2006 are based on a 4.75% sales charge while returns with a starting date on or after July 31, 2006 are based on a 2.50% sales charge.
Current Maximum Sales Charge: 2.50%
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 limits will continue through at least August 1, 2013. The Fund is operating under the contractual expense limits.
The performance quoted represents past performance and does not guarantee future results. Current performance may be lower or higher than the performance information shown. The investment return and principal value of an investment in the Portfolio will fluctuate, so that your shares, when redeemed, may be worth more or less than their original cost. You may obtain performance information current to the most recent month-end by visiting www.ingfunds.com. Returns for the other share classes will vary due to different charges and expenses. Performance assumes reinvestment of distributions and does not account for taxes.
SEC fund returns assume the reinvestment of dividends and capital gain distributions and include a sales charge. Net Asset Value fund returns assume the reinvestment of dividends and capital gain distributions. Total return for less than one year is not annualized. Results would have been less favorable if the sales charge were included.
Principal Risks
All investing involves risks of fluctuating prices and the uncertainties of rates of return and yield inherent in investing. As Interest Rates rise, bond prices fall, reducing the value of the Fund's share price. To the extent that the Fund invests in asset-backed, Mortgage-Backed or Mortgage-Related Securities, its exposure to prepayment and extension risks may be greater than investments in other fixed-income securities. While the Fund invests in securities guaranteed by the U.S. Government as to timely payments of interest and principal, the Fund shares are Not Insured or Guaranteed. Other risks of the Fund include but are not limited to: Credit Risks; Extension Risks; Other Investment Companies Risks; Prepayment Risks; U.S. Government Securities and Obligations Risks; and Securities Lending Risks. Investors should consult the Fund's Prospectus and Statement of Additional Information for a more detailed discussion of the Fund's risks.For more complete information, or to obtain a prospectus on any ING Fund, please contact your investment professional or ING Investments Distributor, LLC at (800) 992-0180 for a prospectus. The prospectus should be read carefully before investing. Consider the investment objectives, risks, and charges and expenses carefully before investing. The prospectus contains this information and other information about the funds. Check with your Investment Professional to determine which funds are available for sale within their firm. Not all funds are available for sale at all firms.
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