ING Global Opportunities Fund - Class A

Average Annual Total Returns  |  Calendar Year Returns

Growth of a $10,000 Investment

For the period 07/01/2003 through 06/30/2010

Ending Value: $14,235

Growth of $10,000

The performance quoted in the “Growth of a $10,000 Investment” chart represents past performance. Performance shown is without sales charges; had sales charges been deducted, performance would have been less. Ending value includes reinvestment of distributions.


Average Annual Total Returns %

Most Recent Month-End
 | 

As of 08/31/2010 YTD 1 YR 3 YR 5 YR 10 YR Inception
(07/2003)		 Gross
Exp.		 Net
Exp.1, 2
Net Asset Value -9.02 -1.74 -13.07 -0.29 — +5.65 1.72% 1.5%
With Sales Charge -14.24 -7.39 -14.77 -1.46 — +4.78    

Current Maximum Sales Charge: 5.75%

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

2 The expense limits will continue through at least March 1, 2012. 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.

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.


Calendar Year Returns %

Past performance is no guarantee of future results. Returns are shown in %. These figures are for the year ended December 31 of each year. They do not reflect sales charges and would be lower if they did. The bar chart above shows the Fund’s annual returns and long-term performance, and illustrates the variability of the Fund’s returns.

Principal Risks

All investing involves risks of fluctuating prices and the uncertainties of rates of return and yield inherent in investing. Foreign Investing does pose special risks including currency fluctuation, economic and political risks not found in investments that are solely domestic. Emerging Market stocks may be especially volatile. Derivatives, such as options and futures, which can be illiquid, may disproportionately increase losses and have a potentially large impact on Fund performance. High-Yield, Lower-Grade Debt Securities are highly speculative and more volatile. Growth Stocks may be more volatile than value stocks due to their relatively high valuations, and growth investing may fall out of favor with investors. Prices of Value-Oriented Securities tend to correlate more closely with economic cycles than growth-oriented securities, they generally are more sensitive to changing economic conditions. Other risks of the Fund include but are not limited to: Convertible and Debt Securities Risks; Other Investment Companies Risks; Price Volatility Risks; Inability to Sell Securities 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.

On March 25, 2010, the Board of Trustees of ING Mutual Funds approved a change in the sub-adviser for the Fund from Artio Global Management LLC to ING Investment Management Advisors B.V. (“IIMA”) and subsequent changes to the Fund’s principal investment strategies. A proxy statement was mailed to shareholders on or about May 6, 2010 detailing these changes and a shareholder meeting is scheduled to take place on or about June 29, 2010. Upon shareholders approval change in sub-adviser, it is expected that IIMA will begin managing the Fund on or about June 30, 2010. Prior to June 30, 2010, the Fund was named the ING Foreign Fund and subadvised by Artio Global Management LLC.