0001193125-12-432906.txt : 20121024 0001193125-12-432906.hdr.sgml : 20121024 20121024125051 ACCESSION NUMBER: 0001193125-12-432906 CONFORMED SUBMISSION TYPE: 497 PUBLIC DOCUMENT COUNT: 8 FILED AS OF DATE: 20121024 DATE AS OF CHANGE: 20121024 EFFECTIVENESS DATE: 20121024 FILER: COMPANY DATA: COMPANY CONFORMED NAME: ING Separate Portfolios Trust CENTRAL INDEX KEY: 0001392116 IRS NUMBER: 000000000 FILING VALUES: FORM TYPE: 497 SEC ACT: 1933 Act SEC FILE NUMBER: 333-141111 FILM NUMBER: 121158014 BUSINESS ADDRESS: BUSINESS PHONE: 800-992-0180 MAIL ADDRESS: STREET 1: 7337 EAST DOUBLETREE RANCH ROAD STREET 2: STE 100 CITY: SCOTTSDALE STATE: AZ ZIP: 85258-2034 0001392116 S000017462 ING SPorts Core Fixed Income Fund C000048311 ING SPorts Core Fixed Income Fund ISCFX 497 1 d426970d497.htm ING SPORTS CORE FIXED INCOME FUND ING SPorts Core Fixed income Fund

 

LOGO

October 24, 2012

VIA EDGAR

U.S. Securities and Exchange Commission

100 F St. N.E.

Washington, D.C. 20549

 

RE: ING Separate Portfolios Trust

(File Nos. 333-141111 and 811-22025)

(the “Registrant”)

Ladies and Gentlemen:

On behalf of ING Separate Portfolios Trust and pursuant to Rule 497(e) under the Securities Act of 1933, as amended, attached for filing are exhibits containing interactive data format risk/return summary information that mirrors the risk/return summary information in a supplement, dated September 7, 2012, to ING SPorts Core Fixed Income Fund’s Prospectus dated July 31, 2012.

The purpose of the filing is to submit the 497(e) filing dated September 7, 2012 in XBRL for the ING SPorts Core Fixed Income Fund.

If you have any questions concerning the attached filing, please contact Jay Stamper at (480) 477-2660 or the undersigned at (480) 477-2649.

Regards,

 

/s/ Paul A. Caldarelli

Paul A. Caldarelli
Vice President and Senior Counsel
ING Investment Management – ING Funds

 

7337 E. Doubletree Ranch Rd. Suite 100

Scottsdale, AZ 85258-2034

  

Tel: 480-477-3000

Fax: 480-477-2700

www.ingfunds.com

EX-101.INS 2 ingspt3-20120907.xml XBRL INSTANCE DOCUMENT 0001392116 2011-08-01 2012-07-31 0001392116 ingspt3:S000017462Member 2011-08-01 2012-07-31 Other 2012-03-31 2012-09-07 2012-09-07 2012-07-31 false ING Separate Portfolios Trust 0001392116 <div> <p style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align="center"><font style="FONT-FAMILY: Times New Roman" size="2">&nbsp;</font></p> <p style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align="center"><b><font style="FONT-FAMILY: Times New Roman" size="2">IMPORTANT INFORMATION REGARDING A CHANGE IN PRINCIPAL INVESTMENT STRATEGIES FOR ING SPORTS CORE FIXED INCOME FUND</font></b></p> <p style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align="center"><font style="FONT-FAMILY: Times New Roman" size="2">&nbsp;</font></p> <p style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align="center"><b><font style="FONT-FAMILY: Times New Roman" size="2">ING SEPARATE PORTFOLIOS TRUST</font></b></p> <p style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align="center"><font style="FONT-FAMILY: Times New Roman" size="2">ING SPorts Core Fixed Income Fund ("Fund")</font></p> <p style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align="center"><font style="FONT-FAMILY: Times New Roman" size="2">&nbsp;</font></p> <p style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align="center"><font style="FONT-FAMILY: Times New Roman" size="2">Supplement dated September&nbsp;7, 2012</font></p> <p style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align="center"><font style="FONT-FAMILY: Times New Roman" size="2">to the Fund's Prospectus ("Prospectus") dated July&nbsp;31, 2012</font></p> <p style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align="center"><font style="FONT-FAMILY: Times New Roman" size="2">&nbsp;</font></p> <p style="MARGIN: 0in 0in 0pt"><font style="FONT-FAMILY: Times New Roman" size="2">On September&nbsp;6, 2012, the Fund's Board of Trustees approved a proposal changing the Fund's principal investment strategies, and changing the Fund's name to "ING Investment Grade Credit Fund" and re-designating the Fund's current share class to "Class SMA" shares. Effective on or about November&nbsp;16, 2012, the Fund's Prospectuses are revised as follows:</font></p> <p style="MARGIN: 0in 0in 0pt"><font style="FONT-FAMILY: Times New Roman" size="2">&nbsp;</font></p> <p style="TEXT-INDENT: -0.5in; MARGIN: 0in 0in 0pt 0.5in"><font style="FONT-FAMILY: Times New Roman" size="2">1.</font><font style="FONT-SIZE: 8.5pt" size="1">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="FONT-FAMILY: Times New Roman" size="2">All references to "ING SPorts Core Fixed Income Fund" in the Fund's Prospectuses are hereby deleted and replaced with "ING Investment Grade Credit Fund."</font></p> <p style="TEXT-INDENT: -0.5in; MARGIN: 0in 0in 0pt 0.5in"><font style="FONT-FAMILY: Times New Roman" size="2">&nbsp;</font></p> <p style="TEXT-INDENT: -0.5in; MARGIN: 0in 0in 0pt 0.5in"><font style="FONT-FAMILY: Times New Roman" size="2">2.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; All references to the Fund's current share class are restated as "Class SMA" shares.</font></p> <p style="TEXT-INDENT: -0.5in; MARGIN: 0in 0in 0pt 0.5in"><font style="FONT-FAMILY: Times New Roman" size="2">&nbsp;</font></p> <p style="TEXT-INDENT: -0.5in; MARGIN: 0in 0in 0pt 0.5in"><font style="FONT-FAMILY: Times New Roman" size="2">3.</font><font style="FONT-SIZE: 8.5pt" size="1">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="FONT-FAMILY: Times New Roman" size="2">The section entitled "ING SPorts Core Fixed Income Fund &#8211; Principal Investment Strategies" in the summary section of the Fund's Prospectuses is hereby deleted in its entirety and replaced with the following:</font></p> <p style="TEXT-INDENT: -0.5in; MARGIN: 0in 0in 0pt 0.5in"><font style="FONT-FAMILY: Times New Roman" size="2">&nbsp;</font></p> <p style="MARGIN: 0in 0in 0pt 0.5in"><b><font style="FONT-FAMILY: Times New Roman" size="2">PRINCIPAL INVESTMENT STRATEGIES</font></b></p> <p style="MARGIN: 0in 0in 0pt 0.5in"><font style="FONT-FAMILY: Times New Roman" size="2">&nbsp;</font></p> <p style="MARGIN: 0in 0in 0pt 0.5in"><font style="FONT-FAMILY: Times New Roman" size="2">Under normal market conditions, the Fund invests at least 80% of its net assets (plus borrowings for investment purposes) in investment-grade fixed-income securities. The Fund will provide shareholders with at least 60 days' prior notice of any change in this investment policy. Investment-grade fixed-income securities are securities rated at least BBB- by Standard&nbsp;&amp; Poor's Ratings Services, Baa3 by Moody's Investors Service,&nbsp;Inc., BBB- by Fitch Ratings, or have an equivalent rating by a nationally recognized statistical rating organization, or are deemed by the adviser ("Adviser") to be of comparable quality if unrated.</font></p> <p style="MARGIN: 0in 0in 0pt 0.5in"><font style="FONT-FAMILY: Times New Roman" size="2">&nbsp;</font></p> <p style="TEXT-INDENT: 0.5in; MARGIN: 0in 0in 0pt"><font style="FONT-FAMILY: Times New Roman" size="2">The securities that the Fund may invest in include, but are not limited to, the following:</font></p> <p style="TEXT-INDENT: 0.5in; MARGIN: 0in 0in 0pt"><font style="FONT-FAMILY: Times New Roman" size="2">&nbsp;</font></p> <p style="TEXT-INDENT: -0.5in; MARGIN: 0in 0in 0pt 1in">&#9679;<font style="FONT-SIZE: 8.5pt" size="1">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="FONT-FAMILY: Times New Roman" size="2">fixed-income securities issued by U.S. and foreign entities that are denominated in U.S. or foreign currencies, including, but not limited to, collateralized debt obligations, collateralized loan obligations, convertible bonds, collateralized mortgage obligations and U.S. and foreign mortgage-backed and asset-backed fixed-income securities;</font></p> <p style="TEXT-INDENT: -0.5in; MARGIN: 0in 0in 0pt 1in">&#9679;<font style="FONT-SIZE: 8.5pt" size="1">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="FONT-FAMILY: Times New Roman" size="2">debt obligations that are denominated in U.S. or foreign currencies and issued or guaranteed by the U.S. government and foreign governments and their agencies and instrumentalities;</font></p> <p style="TEXT-INDENT: 22.5pt; MARGIN: 0in 0in 0pt 13.5pt">&#9679;<font style="FONT-SIZE: 8.5pt" size="1">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="FONT-FAMILY: Times New Roman" size="2">preferred stocks;</font></p> <p style="TEXT-INDENT: 22.5pt; MARGIN: 0in 0in 0pt 13.5pt">&#9679;<font style="FONT-SIZE: 8.5pt" size="1">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="FONT-FAMILY: Times New Roman" size="2">money market instruments; and</font></p> <p style="TEXT-INDENT: 22.5pt; MARGIN: 0in 0in 0pt 13.5pt">&#9679;<font style="FONT-SIZE: 8.5pt" size="1">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="FONT-FAMILY: Times New Roman" size="2">municipal bonds.</font></p> <p style="TEXT-INDENT: 22.5pt; MARGIN: 0in 0in 0pt 13.5pt"><font style="FONT-FAMILY: Times New Roman" size="2">&nbsp;</font></p> <p style="MARGIN: 0in 0in 0pt 0.5in"><font style="FONT-FAMILY: Times New Roman" size="2">Generally, the Adviser maintains a dollar-weighted average duration between three and ten years for the Fund. Duration is the most commonly used measure of risk in fixed-income investment as it incorporates multiple features of the fixed-income instrument (<i>e.g.,</i> yield, coupon, maturity,&nbsp;etc.) into one number. Duration is a measure of sensitivity of the price of a fixed-income instrument to a change in interest rates. Duration is a weighted average of the times that interest payments and the final return of principal are received. The weights are the amounts of the payments discounted by the yield-to-maturity of the fixed-income instrument. Duration is expressed as a number of years. The bigger the duration number, the greater the interest-rate risk or reward for the fixed-income instrument prices. For example, the price of a bond fund with an average duration of five years would be expected to fall approximately 5% if interest rates rose by one percentage point. Conversely, the price of a bond fund with an average duration of five years would be expected to rise approximately 5% if interest rates drop by one percentage point.</font></p> <p style="MARGIN: 0in 0in 0pt 0.5in"><font style="FONT-FAMILY: Times New Roman" size="2">&nbsp;</font></p> <p style="MARGIN: 0in 0in 0pt 0.5in"><font style="FONT-FAMILY: Times New Roman" size="2">The Fund may also engage in dollar roll transactions, repurchase agreements and reverse repurchase agreements, options, futures and forward contracts involving securities, securities indices, foreign currencies, interest rates, and swap agreements, including credit default swaps. The Fund typically uses derivatives to reduce exposure to other risks, such as interest rate or currency risk, to substitute for taking a position in the underlying asset, and/or to enhance returns in the Fund.</font></p> <p style="MARGIN: 0in 0in 0pt 0.5in"><font style="FONT-FAMILY: Times New Roman" size="2">&nbsp;</font></p> <p style="MARGIN: 0in 0in 0pt 0.5in"><font style="FONT-FAMILY: Times New Roman" size="2">The Adviser believes that relationships between the drivers of fixed income returns change over time and that recognizing this is key to managing fixed-income assets. Therefore, the Adviser employs a dynamic investment process that balances top-down macro economic considerations and fundamental bottom-up analysis during the steps of its investment process &#8211; sector allocation, security selection, duration and yield curve management. This includes leveraging proprietary qualitative analysis along with quantitative tools throughout the portfolio construction process.</font></p> <p style="MARGIN: 0in 0in 0pt 0.5in"><font style="FONT-FAMILY: Times New Roman" size="2">&nbsp;</font></p> <p style="MARGIN: 0in 0in 0pt 0.5in"><font style="FONT-FAMILY: Times New Roman" size="2">The Fund may also invest in other investment companies, including exchange-traded funds, to the extent permitted under the Investment Company Act of 1940, as amended, and the rules, regulations and exemptive orders thereunder ("1940 Act").</font></p> <p style="MARGIN: 0in 0in 0pt 0.5in"><font style="FONT-FAMILY: Times New Roman" size="2">&nbsp;</font></p> <p style="MARGIN: 0in 0in 0pt 0.5in"><font style="FONT-FAMILY: Times New Roman" size="2">The Adviser may sell securities for a variety of reasons, such as to secure gains, limit losses, or redeploy assets into opportunities believed to be more promising, among others.</font></p> <p style="MARGIN: 0in 0in 0pt 0.5in"><font style="FONT-FAMILY: Times New Roman" size="2">&nbsp;</font></p> <p style="MARGIN: 0in 0in 0pt 0.5in"><font style="FONT-FAMILY: Times New Roman" size="2">The Fund also may lend portfolio securities on a short-term or long-term basis, up to 33</font><font style="POSITION: relative; FONT-SIZE: 6.5pt; TOP: -3pt" size="1">1</font><font style="FONT-FAMILY: Times New Roman" size="2">/</font><font style="POSITION: relative; FONT-SIZE: 6.5pt; TOP: 1pt" size="1">3</font><font style="FONT-FAMILY: Times New Roman" size="2">% of its total assets.</font></p> <p style="MARGIN: 0in 0in 0pt 0.5in"><font style="FONT-FAMILY: Times New Roman" size="2">&nbsp;</font></p> <p style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align="center"><b><font style="FONT-FAMILY: Times New Roman" size="2"></font></b></p></div> <div> <p style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align="center"><font style="FONT-FAMILY: Times New Roman" size="2">&nbsp;</font></p> <p style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align="center"><b><font style="FONT-FAMILY: Times New Roman" size="2">IMPORTANT INFORMATION REGARDING A CHANGE IN PRINCIPAL INVESTMENT STRATEGIES FOR ING SPORTS CORE FIXED INCOME FUND</font></b></p> <p style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align="center"><font style="FONT-FAMILY: Times New Roman" size="2">&nbsp;</font></p> <p style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align="center"><b><font style="FONT-FAMILY: Times New Roman" size="2">ING SEPARATE PORTFOLIOS TRUST</font></b></p> <p style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align="center"><font style="FONT-FAMILY: Times New Roman" size="2">ING SPorts Core Fixed Income Fund ("Fund")</font></p> <p style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align="center"><font style="FONT-FAMILY: Times New Roman" size="2">&nbsp;</font></p> <p style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align="center"><font style="FONT-FAMILY: Times New Roman" size="2">Supplement dated September&nbsp;7, 2012</font></p> <p style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align="center"><font style="FONT-FAMILY: Times New Roman" size="2">to the Fund's Prospectus ("Prospectus") dated July&nbsp;31, 2012</font></p> <p style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align="center"><font style="FONT-FAMILY: Times New Roman" size="2">&nbsp;</font></p> <p style="MARGIN: 0in 0in 0pt"><font style="FONT-FAMILY: Times New Roman" size="2">On September&nbsp;6, 2012, the Fund's Board of Trustees approved a proposal changing the Fund's principal investment strategies, and changing the Fund's name to "ING Investment Grade Credit Fund" and re-designating the Fund's current share class to "Class SMA" shares. Effective on or about November&nbsp;16, 2012, the Fund's Prospectuses are revised as follows:</font></p> <p style="MARGIN: 0in 0in 0pt"><font style="FONT-FAMILY: Times New Roman" size="2">&nbsp;</font></p> <p style="TEXT-INDENT: -0.5in; MARGIN: 0in 0in 0pt 0.5in"><font style="FONT-FAMILY: Times New Roman" size="2">1.</font><font style="FONT-SIZE: 8.5pt" size="1">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="FONT-FAMILY: Times New Roman" size="2">All references to "ING SPorts Core Fixed Income Fund" in the Fund's Prospectuses are hereby deleted and replaced with "ING Investment Grade Credit Fund."</font></p> <p style="TEXT-INDENT: -0.5in; MARGIN: 0in 0in 0pt 0.5in"><font style="FONT-FAMILY: Times New Roman" size="2">&nbsp;</font></p> <p style="TEXT-INDENT: -0.5in; MARGIN: 0in 0in 0pt 0.5in"><font style="FONT-FAMILY: Times New Roman" size="2">2.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; All references to the Fund's current share class are restated as "Class SMA" shares.</font></p> <p style="TEXT-INDENT: -0.5in; MARGIN: 0in 0in 0pt 0.5in"><font style="FONT-FAMILY: Times New Roman" size="2">&nbsp;</font></p> <p style="TEXT-INDENT: -0.5in; MARGIN: 0in 0in 0pt 0.5in"><font style="FONT-FAMILY: Times New Roman" size="2">3.</font><font style="FONT-SIZE: 8.5pt" size="1">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="FONT-FAMILY: Times New Roman" size="2">The section entitled "ING SPorts Core Fixed Income Fund &#8211; Principal Investment Strategies" in the summary section of the Fund's Prospectuses is hereby deleted in its entirety and replaced with the following:</font></p> <p style="TEXT-INDENT: -0.5in; MARGIN: 0in 0in 0pt 0.5in"><font style="FONT-FAMILY: Times New Roman" size="2">&nbsp;</font></p> <p style="MARGIN: 0in 0in 0pt 0.5in"><b><font style="FONT-FAMILY: Times New Roman" size="2">PRINCIPAL INVESTMENT STRATEGIES</font></b></p> <p style="MARGIN: 0in 0in 0pt 0.5in"><font style="FONT-FAMILY: Times New Roman" size="2">&nbsp;</font></p> <p style="MARGIN: 0in 0in 0pt 0.5in"><font style="FONT-FAMILY: Times New Roman" size="2">Under normal market conditions, the Fund invests at least 80% of its net assets (plus borrowings for investment purposes) in investment-grade fixed-income securities. The Fund will provide shareholders with at least 60 days' prior notice of any change in this investment policy. Investment-grade fixed-income securities are securities rated at least BBB- by Standard&nbsp;&amp; Poor's Ratings Services, Baa3 by Moody's Investors Service,&nbsp;Inc., BBB- by Fitch Ratings, or have an equivalent rating by a nationally recognized statistical rating organization, or are deemed by the adviser ("Adviser") to be of comparable quality if unrated.</font></p> <p style="MARGIN: 0in 0in 0pt 0.5in"><font style="FONT-FAMILY: Times New Roman" size="2">&nbsp;</font></p> <p style="TEXT-INDENT: 0.5in; MARGIN: 0in 0in 0pt"><font style="FONT-FAMILY: Times New Roman" size="2">The securities that the Fund may invest in include, but are not limited to, the following:</font></p> <p style="TEXT-INDENT: 0.5in; MARGIN: 0in 0in 0pt"><font style="FONT-FAMILY: Times New Roman" size="2">&nbsp;</font></p> <p style="TEXT-INDENT: -0.5in; MARGIN: 0in 0in 0pt 1in">&#9679;<font style="FONT-SIZE: 8.5pt" size="1">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="FONT-FAMILY: Times New Roman" size="2">fixed-income securities issued by U.S. and foreign entities that are denominated in U.S. or foreign currencies, including, but not limited to, collateralized debt obligations, collateralized loan obligations, convertible bonds, collateralized mortgage obligations and U.S. and foreign mortgage-backed and asset-backed fixed-income securities;</font></p> <p style="TEXT-INDENT: -0.5in; MARGIN: 0in 0in 0pt 1in">&#9679;<font style="FONT-SIZE: 8.5pt" size="1">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="FONT-FAMILY: Times New Roman" size="2">debt obligations that are denominated in U.S. or foreign currencies and issued or guaranteed by the U.S. government and foreign governments and their agencies and instrumentalities;</font></p> <p style="TEXT-INDENT: 22.5pt; MARGIN: 0in 0in 0pt 13.5pt">&#9679;<font style="FONT-SIZE: 8.5pt" size="1">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="FONT-FAMILY: Times New Roman" size="2">preferred stocks;</font></p> <p style="TEXT-INDENT: 22.5pt; MARGIN: 0in 0in 0pt 13.5pt">&#9679;<font style="FONT-SIZE: 8.5pt" size="1">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="FONT-FAMILY: Times New Roman" size="2">money market instruments; and</font></p> <p style="TEXT-INDENT: 22.5pt; MARGIN: 0in 0in 0pt 13.5pt">&#9679;<font style="FONT-SIZE: 8.5pt" size="1">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </font><font style="FONT-FAMILY: Times New Roman" size="2">municipal bonds.</font></p> <p style="TEXT-INDENT: 22.5pt; MARGIN: 0in 0in 0pt 13.5pt"><font style="FONT-FAMILY: Times New Roman" size="2">&nbsp;</font></p> <p style="MARGIN: 0in 0in 0pt 0.5in"><font style="FONT-FAMILY: Times New Roman" size="2">Generally, the Adviser maintains a dollar-weighted average duration between three and ten years for the Fund. Duration is the most commonly used measure of risk in fixed-income investment as it incorporates multiple features of the fixed-income instrument (<i>e.g.,</i> yield, coupon, maturity,&nbsp;etc.) into one number. Duration is a measure of sensitivity of the price of a fixed-income instrument to a change in interest rates. Duration is a weighted average of the times that interest payments and the final return of principal are received. The weights are the amounts of the payments discounted by the yield-to-maturity of the fixed-income instrument. Duration is expressed as a number of years. The bigger the duration number, the greater the interest-rate risk or reward for the fixed-income instrument prices. For example, the price of a bond fund with an average duration of five years would be expected to fall approximately 5% if interest rates rose by one percentage point. Conversely, the price of a bond fund with an average duration of five years would be expected to rise approximately 5% if interest rates drop by one percentage point.</font></p> <p style="MARGIN: 0in 0in 0pt 0.5in"><font style="FONT-FAMILY: Times New Roman" size="2">&nbsp;</font></p> <p style="MARGIN: 0in 0in 0pt 0.5in"><font style="FONT-FAMILY: Times New Roman" size="2">The Fund may also engage in dollar roll transactions, repurchase agreements and reverse repurchase agreements, options, futures and forward contracts involving securities, securities indices, foreign currencies, interest rates, and swap agreements, including credit default swaps. The Fund typically uses derivatives to reduce exposure to other risks, such as interest rate or currency risk, to substitute for taking a position in the underlying asset, and/or to enhance returns in the Fund.</font></p> <p style="MARGIN: 0in 0in 0pt 0.5in"><font style="FONT-FAMILY: Times New Roman" size="2">&nbsp;</font></p> <p style="MARGIN: 0in 0in 0pt 0.5in"><font style="FONT-FAMILY: Times New Roman" size="2">The Adviser believes that relationships between the drivers of fixed income returns change over time and that recognizing this is key to managing fixed-income assets. Therefore, the Adviser employs a dynamic investment process that balances top-down macro economic considerations and fundamental bottom-up analysis during the steps of its investment process &#8211; sector allocation, security selection, duration and yield curve management. This includes leveraging proprietary qualitative analysis along with quantitative tools throughout the portfolio construction process.</font></p> <p style="MARGIN: 0in 0in 0pt 0.5in"><font style="FONT-FAMILY: Times New Roman" size="2">&nbsp;</font></p> <p style="MARGIN: 0in 0in 0pt 0.5in"><font style="FONT-FAMILY: Times New Roman" size="2">The Fund may also invest in other investment companies, including exchange-traded funds, to the extent permitted under the Investment Company Act of 1940, as amended, and the rules, regulations and exemptive orders thereunder ("1940 Act").</font></p> <p style="MARGIN: 0in 0in 0pt 0.5in"><font style="FONT-FAMILY: Times New Roman" size="2">&nbsp;</font></p> <p style="MARGIN: 0in 0in 0pt 0.5in"><font style="FONT-FAMILY: Times New Roman" size="2">The Adviser may sell securities for a variety of reasons, such as to secure gains, limit losses, or redeploy assets into opportunities believed to be more promising, among others.</font></p> <p style="MARGIN: 0in 0in 0pt 0.5in"><font style="FONT-FAMILY: Times New Roman" size="2">&nbsp;</font></p> <p style="MARGIN: 0in 0in 0pt 0.5in"><font style="FONT-FAMILY: Times New Roman" size="2">The Fund also may lend portfolio securities on a short-term or long-term basis, up to 33</font><font style="POSITION: relative; FONT-SIZE: 6.5pt; TOP: -3pt" size="1">1</font><font style="FONT-FAMILY: Times New Roman" size="2">/</font><font style="POSITION: relative; FONT-SIZE: 6.5pt; TOP: 1pt" size="1">3</font><font style="FONT-FAMILY: Times New Roman" size="2">% of its total assets.</font></p> <p style="MARGIN: 0in 0in 0pt 0.5in"><font style="FONT-FAMILY: Times New Roman" size="2">&nbsp;</font></p> <p style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align="center"><b><font style="FONT-FAMILY: Times New Roman" size="2"></font></b></p></div> EX-101.SCH 3 ingspt3-20120907.xsd XBRL TAXONOMY EXTENSION SCHEMA 000000 - Document - Document and Entity Information link:presentationLink link:calculationLink link:definitionLink 000011 - Document - Risk/Return Summary {Unlabeled} - ING SPorts Core Fixed Income Fund link:presentationLink link:calculationLink link:definitionLink 000012 - Schedule - Shareholder Fees {- ING SPorts Core Fixed Income Fund} link:presentationLink link:calculationLink link:definitionLink 000013 - Schedule - Annual Fund Operating Expenses {- ING SPorts Core Fixed Income Fund} link:presentationLink link:calculationLink link:definitionLink 000014 - Schedule - Expense Example {Transposed} {- ING SPorts Core Fixed Income Fund} link:presentationLink link:calculationLink link:definitionLink 000015 - Schedule - Expense Example, No Redemption {Transposed} {- ING SPorts Core Fixed Income Fund} link:presentationLink link:calculationLink link:definitionLink 000016 - Schedule - Annual Total Returns - ING SPorts Core Fixed Income Fund [BarChart] link:presentationLink link:calculationLink link:definitionLink 000017 - Schedule - Average Annual Total Returns {Transposed} {- ING SPorts Core Fixed Income Fund} link:presentationLink link:calculationLink link:definitionLink 000018 - Document - Risk/Return Detail {Unlabeled} - ING SPorts Core Fixed Income Fund link:presentationLink link:calculationLink link:definitionLink 000019 - Disclosure - Risk/Return Detail Data {Elements} - ING SPorts Core Fixed Income Fund link:presentationLink link:calculationLink link:definitionLink 000010 - Document - Risk/Return Supplement {Unlabeled} - ING SPorts Core Fixed Income Fund link:presentationLink link:calculationLink link:definitionLink EX-101.CAL 4 ingspt3-20120907_cal.xml XBRL TAXONOMY EXTENSION CALCULATION LINKBASE EX-101.DEF 5 ingspt3-20120907_def.xml XBRL TAXONOMY EXTENSION DEFINITION LINKBASE EX-101.LAB 6 ingspt3-20120907_lab.xml XBRL TAXONOMY EXTENSION LABEL LINKBASE EX-101.PRE 7 ingspt3-20120907_pre.xml XBRL TAXONOMY EXTENSION PRESENTATION LINKBASE GRAPHIC 8 g426970g13s28.jpg GRAPHIC begin 644 g426970g13s28.jpg M_]C_X``02D9)1@`!`@``9`!D``#_[``11'5C:WD``0`$````9```_^X`#D%D M;V)E`&3``````?_;`(0``0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$! 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IMPORTANT INFORMATION REGARDING A CHANGE IN PRINCIPAL INVESTMENT STRATEGIES FOR ING SPORTS CORE FIXED INCOME FUND

 

ING SEPARATE PORTFOLIOS TRUST

ING SPorts Core Fixed Income Fund ("Fund")

 

Supplement dated September 7, 2012

to the Fund's Prospectus ("Prospectus") dated July 31, 2012

 

On September 6, 2012, the Fund's Board of Trustees approved a proposal changing the Fund's principal investment strategies, and changing the Fund's name to "ING Investment Grade Credit Fund" and re-designating the Fund's current share class to "Class SMA" shares. Effective on or about November 16, 2012, the Fund's Prospectuses are revised as follows:

 

1.             All references to "ING SPorts Core Fixed Income Fund" in the Fund's Prospectuses are hereby deleted and replaced with "ING Investment Grade Credit Fund."

 

2.            All references to the Fund's current share class are restated as "Class SMA" shares.

 

3.             The section entitled "ING SPorts Core Fixed Income Fund – Principal Investment Strategies" in the summary section of the Fund's Prospectuses is hereby deleted in its entirety and replaced with the following:

 

PRINCIPAL INVESTMENT STRATEGIES

 

Under normal market conditions, the Fund invests at least 80% of its net assets (plus borrowings for investment purposes) in investment-grade fixed-income securities. The Fund will provide shareholders with at least 60 days' prior notice of any change in this investment policy. Investment-grade fixed-income securities are securities rated at least BBB- by Standard & Poor's Ratings Services, Baa3 by Moody's Investors Service, Inc., BBB- by Fitch Ratings, or have an equivalent rating by a nationally recognized statistical rating organization, or are deemed by the adviser ("Adviser") to be of comparable quality if unrated.

 

The securities that the Fund may invest in include, but are not limited to, the following:

 

              fixed-income securities issued by U.S. and foreign entities that are denominated in U.S. or foreign currencies, including, but not limited to, collateralized debt obligations, collateralized loan obligations, convertible bonds, collateralized mortgage obligations and U.S. and foreign mortgage-backed and asset-backed fixed-income securities;

              debt obligations that are denominated in U.S. or foreign currencies and issued or guaranteed by the U.S. government and foreign governments and their agencies and instrumentalities;

              preferred stocks;

              money market instruments; and

              municipal bonds.

 

Generally, the Adviser maintains a dollar-weighted average duration between three and ten years for the Fund. Duration is the most commonly used measure of risk in fixed-income investment as it incorporates multiple features of the fixed-income instrument (e.g., yield, coupon, maturity, etc.) into one number. Duration is a measure of sensitivity of the price of a fixed-income instrument to a change in interest rates. Duration is a weighted average of the times that interest payments and the final return of principal are received. The weights are the amounts of the payments discounted by the yield-to-maturity of the fixed-income instrument. Duration is expressed as a number of years. The bigger the duration number, the greater the interest-rate risk or reward for the fixed-income instrument prices. For example, the price of a bond fund with an average duration of five years would be expected to fall approximately 5% if interest rates rose by one percentage point. Conversely, the price of a bond fund with an average duration of five years would be expected to rise approximately 5% if interest rates drop by one percentage point.

 

The Fund may also engage in dollar roll transactions, repurchase agreements and reverse repurchase agreements, options, futures and forward contracts involving securities, securities indices, foreign currencies, interest rates, and swap agreements, including credit default swaps. The Fund typically uses derivatives to reduce exposure to other risks, such as interest rate or currency risk, to substitute for taking a position in the underlying asset, and/or to enhance returns in the Fund.

 

The Adviser believes that relationships between the drivers of fixed income returns change over time and that recognizing this is key to managing fixed-income assets. Therefore, the Adviser employs a dynamic investment process that balances top-down macro economic considerations and fundamental bottom-up analysis during the steps of its investment process – sector allocation, security selection, duration and yield curve management. This includes leveraging proprietary qualitative analysis along with quantitative tools throughout the portfolio construction process.

 

The Fund may also invest in other investment companies, including exchange-traded funds, to the extent permitted under the Investment Company Act of 1940, as amended, and the rules, regulations and exemptive orders thereunder ("1940 Act").

 

The Adviser may sell securities for a variety of reasons, such as to secure gains, limit losses, or redeploy assets into opportunities believed to be more promising, among others.

 

The Fund also may lend portfolio securities on a short-term or long-term basis, up to 331/3% of its total assets.

 

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XML 13 R3.htm IDEA: XBRL DOCUMENT v2.4.0.6
Label Element Value
Risk/Return: rr_RiskReturnAbstract  
Registrant Name dei_EntityRegistrantName ING Separate Portfolios Trust
Prospectus Date rr_ProspectusDate Jul. 31, 2012
Supplement [Text Block] ingspt3_SupplementTextBlock

 

IMPORTANT INFORMATION REGARDING A CHANGE IN PRINCIPAL INVESTMENT STRATEGIES FOR ING SPORTS CORE FIXED INCOME FUND

 

ING SEPARATE PORTFOLIOS TRUST

ING SPorts Core Fixed Income Fund ("Fund")

 

Supplement dated September 7, 2012

to the Fund's Prospectus ("Prospectus") dated July 31, 2012

 

On September 6, 2012, the Fund's Board of Trustees approved a proposal changing the Fund's principal investment strategies, and changing the Fund's name to "ING Investment Grade Credit Fund" and re-designating the Fund's current share class to "Class SMA" shares. Effective on or about November 16, 2012, the Fund's Prospectuses are revised as follows:

 

1.             All references to "ING SPorts Core Fixed Income Fund" in the Fund's Prospectuses are hereby deleted and replaced with "ING Investment Grade Credit Fund."

 

2.            All references to the Fund's current share class are restated as "Class SMA" shares.

 

3.             The section entitled "ING SPorts Core Fixed Income Fund – Principal Investment Strategies" in the summary section of the Fund's Prospectuses is hereby deleted in its entirety and replaced with the following:

 

PRINCIPAL INVESTMENT STRATEGIES

 

Under normal market conditions, the Fund invests at least 80% of its net assets (plus borrowings for investment purposes) in investment-grade fixed-income securities. The Fund will provide shareholders with at least 60 days' prior notice of any change in this investment policy. Investment-grade fixed-income securities are securities rated at least BBB- by Standard & Poor's Ratings Services, Baa3 by Moody's Investors Service, Inc., BBB- by Fitch Ratings, or have an equivalent rating by a nationally recognized statistical rating organization, or are deemed by the adviser ("Adviser") to be of comparable quality if unrated.

 

The securities that the Fund may invest in include, but are not limited to, the following:

 

              fixed-income securities issued by U.S. and foreign entities that are denominated in U.S. or foreign currencies, including, but not limited to, collateralized debt obligations, collateralized loan obligations, convertible bonds, collateralized mortgage obligations and U.S. and foreign mortgage-backed and asset-backed fixed-income securities;

              debt obligations that are denominated in U.S. or foreign currencies and issued or guaranteed by the U.S. government and foreign governments and their agencies and instrumentalities;

              preferred stocks;

              money market instruments; and

              municipal bonds.

 

Generally, the Adviser maintains a dollar-weighted average duration between three and ten years for the Fund. Duration is the most commonly used measure of risk in fixed-income investment as it incorporates multiple features of the fixed-income instrument (e.g., yield, coupon, maturity, etc.) into one number. Duration is a measure of sensitivity of the price of a fixed-income instrument to a change in interest rates. Duration is a weighted average of the times that interest payments and the final return of principal are received. The weights are the amounts of the payments discounted by the yield-to-maturity of the fixed-income instrument. Duration is expressed as a number of years. The bigger the duration number, the greater the interest-rate risk or reward for the fixed-income instrument prices. For example, the price of a bond fund with an average duration of five years would be expected to fall approximately 5% if interest rates rose by one percentage point. Conversely, the price of a bond fund with an average duration of five years would be expected to rise approximately 5% if interest rates drop by one percentage point.

 

The Fund may also engage in dollar roll transactions, repurchase agreements and reverse repurchase agreements, options, futures and forward contracts involving securities, securities indices, foreign currencies, interest rates, and swap agreements, including credit default swaps. The Fund typically uses derivatives to reduce exposure to other risks, such as interest rate or currency risk, to substitute for taking a position in the underlying asset, and/or to enhance returns in the Fund.

 

The Adviser believes that relationships between the drivers of fixed income returns change over time and that recognizing this is key to managing fixed-income assets. Therefore, the Adviser employs a dynamic investment process that balances top-down macro economic considerations and fundamental bottom-up analysis during the steps of its investment process – sector allocation, security selection, duration and yield curve management. This includes leveraging proprietary qualitative analysis along with quantitative tools throughout the portfolio construction process.

 

The Fund may also invest in other investment companies, including exchange-traded funds, to the extent permitted under the Investment Company Act of 1940, as amended, and the rules, regulations and exemptive orders thereunder ("1940 Act").

 

The Adviser may sell securities for a variety of reasons, such as to secure gains, limit losses, or redeploy assets into opportunities believed to be more promising, among others.

 

The Fund also may lend portfolio securities on a short-term or long-term basis, up to 331/3% of its total assets.

 

ING SPorts Core Fixed Income Fund
 
Risk/Return: rr_RiskReturnAbstract  
Supplement [Text Block] ingspt3_SupplementTextBlock

 

IMPORTANT INFORMATION REGARDING A CHANGE IN PRINCIPAL INVESTMENT STRATEGIES FOR ING SPORTS CORE FIXED INCOME FUND

 

ING SEPARATE PORTFOLIOS TRUST

ING SPorts Core Fixed Income Fund ("Fund")

 

Supplement dated September 7, 2012

to the Fund's Prospectus ("Prospectus") dated July 31, 2012

 

On September 6, 2012, the Fund's Board of Trustees approved a proposal changing the Fund's principal investment strategies, and changing the Fund's name to "ING Investment Grade Credit Fund" and re-designating the Fund's current share class to "Class SMA" shares. Effective on or about November 16, 2012, the Fund's Prospectuses are revised as follows:

 

1.             All references to "ING SPorts Core Fixed Income Fund" in the Fund's Prospectuses are hereby deleted and replaced with "ING Investment Grade Credit Fund."

 

2.            All references to the Fund's current share class are restated as "Class SMA" shares.

 

3.             The section entitled "ING SPorts Core Fixed Income Fund – Principal Investment Strategies" in the summary section of the Fund's Prospectuses is hereby deleted in its entirety and replaced with the following:

 

PRINCIPAL INVESTMENT STRATEGIES

 

Under normal market conditions, the Fund invests at least 80% of its net assets (plus borrowings for investment purposes) in investment-grade fixed-income securities. The Fund will provide shareholders with at least 60 days' prior notice of any change in this investment policy. Investment-grade fixed-income securities are securities rated at least BBB- by Standard & Poor's Ratings Services, Baa3 by Moody's Investors Service, Inc., BBB- by Fitch Ratings, or have an equivalent rating by a nationally recognized statistical rating organization, or are deemed by the adviser ("Adviser") to be of comparable quality if unrated.

 

The securities that the Fund may invest in include, but are not limited to, the following:

 

              fixed-income securities issued by U.S. and foreign entities that are denominated in U.S. or foreign currencies, including, but not limited to, collateralized debt obligations, collateralized loan obligations, convertible bonds, collateralized mortgage obligations and U.S. and foreign mortgage-backed and asset-backed fixed-income securities;

              debt obligations that are denominated in U.S. or foreign currencies and issued or guaranteed by the U.S. government and foreign governments and their agencies and instrumentalities;

              preferred stocks;

              money market instruments; and

              municipal bonds.

 

Generally, the Adviser maintains a dollar-weighted average duration between three and ten years for the Fund. Duration is the most commonly used measure of risk in fixed-income investment as it incorporates multiple features of the fixed-income instrument (e.g., yield, coupon, maturity, etc.) into one number. Duration is a measure of sensitivity of the price of a fixed-income instrument to a change in interest rates. Duration is a weighted average of the times that interest payments and the final return of principal are received. The weights are the amounts of the payments discounted by the yield-to-maturity of the fixed-income instrument. Duration is expressed as a number of years. The bigger the duration number, the greater the interest-rate risk or reward for the fixed-income instrument prices. For example, the price of a bond fund with an average duration of five years would be expected to fall approximately 5% if interest rates rose by one percentage point. Conversely, the price of a bond fund with an average duration of five years would be expected to rise approximately 5% if interest rates drop by one percentage point.

 

The Fund may also engage in dollar roll transactions, repurchase agreements and reverse repurchase agreements, options, futures and forward contracts involving securities, securities indices, foreign currencies, interest rates, and swap agreements, including credit default swaps. The Fund typically uses derivatives to reduce exposure to other risks, such as interest rate or currency risk, to substitute for taking a position in the underlying asset, and/or to enhance returns in the Fund.

 

The Adviser believes that relationships between the drivers of fixed income returns change over time and that recognizing this is key to managing fixed-income assets. Therefore, the Adviser employs a dynamic investment process that balances top-down macro economic considerations and fundamental bottom-up analysis during the steps of its investment process – sector allocation, security selection, duration and yield curve management. This includes leveraging proprietary qualitative analysis along with quantitative tools throughout the portfolio construction process.

 

The Fund may also invest in other investment companies, including exchange-traded funds, to the extent permitted under the Investment Company Act of 1940, as amended, and the rules, regulations and exemptive orders thereunder ("1940 Act").

 

The Adviser may sell securities for a variety of reasons, such as to secure gains, limit losses, or redeploy assets into opportunities believed to be more promising, among others.

 

The Fund also may lend portfolio securities on a short-term or long-term basis, up to 331/3% of its total assets.

 

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Jul. 31, 2012
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