0001193125-13-444128.txt : 20131118 0001193125-13-444128.hdr.sgml : 20131118 20131115173939 ACCESSION NUMBER: 0001193125-13-444128 CONFORMED SUBMISSION TYPE: 497 PUBLIC DOCUMENT COUNT: 8 FILED AS OF DATE: 20131118 DATE AS OF CHANGE: 20131115 EFFECTIVENESS DATE: 20131118 FILER: COMPANY DATA: COMPANY CONFORMED NAME: ING INVESTORS TRUST CENTRAL INDEX KEY: 0000837276 IRS NUMBER: 000000000 FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 497 SEC ACT: 1933 Act SEC FILE NUMBER: 033-23512 FILM NUMBER: 131224869 BUSINESS ADDRESS: STREET 1: 7337 E. DOUBLETREE RANCH ROAD, STE 100 CITY: SCOTTSDALE STATE: AZ ZIP: 85258 BUSINESS PHONE: 800-366-0066 MAIL ADDRESS: STREET 1: 7337 E. DOUBLETREE RANCH ROAD, STE 100 CITY: SCOTTSDALE STATE: AZ ZIP: 85258 FORMER COMPANY: FORMER CONFORMED NAME: GCG TRUST DATE OF NAME CHANGE: 19920703 FORMER COMPANY: FORMER CONFORMED NAME: SPECIALTY MANAGERS TRUST DATE OF NAME CHANGE: 19911209 FORMER COMPANY: FORMER CONFORMED NAME: WESTERN CAPITAL SPECIALTY MANAGERS TRUST DATE OF NAME CHANGE: 19890725 0000837276 S000005793 ING PIMCO Total Return Bond Portfolio C000015918 Class I IPCBX C000015919 Class S IPCSX C000015920 Class S2 IPCTX C000029747 Class ADV IPTAX 497 1 d622925d497.htm ING INVESTORS TRUST ING INVESTORS TRUST

LOGO

November 18, 2013

VIA EDGAR

U.S. Securities and Exchange Commission

100 F St. N.E.

Washington, D.C. 20549

 

RE:     ING Investors Trust

    (File Nos. 33-23512; 811-05629)

Ladies and Gentlemen:

On behalf of ING Investors 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 November 4, 2013, to the Prospectus dated May 1, 2013, for ING PIMCO Total Return Bond Portfolio (the “Portfolio”). The purpose of the filing is to submit the 497(e) filing dated November 4, 2013 in XBRL for the Portfolio.

If you have any questions concerning the attached filing, please contact Jay Stamper at (480) 477-2660 or the undersigned at (480) 477-2650.

Regards,

 

/s/ Paul Caldarelli

 

Paul Caldarelli
Vice President and Senior Counsel

ING Investment Management – ING Funds

 

7337 E. Doubletree Ranch Rd.

Scottsdale, AZ 85258-2034

 

Tel: 480-477-3000

Fax: 480-477-2700

www.ingfunds.com

EX-101.INS 2 ingit-20131104.xml XBRL INSTANCE DOCUMENT 0000837276 2012-05-01 2013-04-30 0000837276 ingit:S000005793Member 2012-05-01 2013-04-30 Other 2012-12-31 ING INVESTORS TRUST 0000837276 false 2013-11-04 2013-11-04 2013-04-30 <p style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align="center"><b>ING INVESTORS TRUST</b></p> <p style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align="center">ING PIMCO Total Return Bond Portfolio</p> <p style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align="center">("Portfolio")</p> <p style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align="center">&nbsp;</p> <p style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align="center">Supplement dated November&nbsp;4, 2013</p> <p style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align="center">to the Portfolio's Adviser Class&nbsp;("Class&nbsp;ADV") Prospectus,</p> <p style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align="center">Institutional Class&nbsp;("Class&nbsp;I") Prospectus, Service Class&nbsp;("Class&nbsp;S") Prospectus</p> <p style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align="center">and Service 2 Class&nbsp;("Class&nbsp;S2") Prospectus,</p> <p style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align="center">each dated April&nbsp;30, 2013; and</p> <p style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align="center">&nbsp;</p> <p style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align="center">to the Portfolio's Class&nbsp;ADV Summary Prospectus, Class&nbsp;I Summary Prospectus,</p> <p style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align="center">Class&nbsp;S Summary Prospectus and Class&nbsp;S2 Summary Prospectus,</p> <p style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align="center">each dated April&nbsp;30, 2013</p> <p style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align="center">&nbsp;(each a "Prospectus" and collectively "Prospectuses")</p><br/><p style="MARGIN: 0in 0in 0pt 0.25in">Effective on the close of business February&nbsp;4, 2014, the Portfolio's Prospectuses are hereby revised as follows:</p> <p style="MARGIN: 0in 0in 0pt 0.25in">&nbsp;</p> <p style="TEXT-INDENT: -0.25in; MARGIN: 0in 0in 0pt 0.75in">a.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;All references to "ING PIMCO Total Return Bond Portfolio" are hereby deleted and replaced with "ING Total Return Bond Portfolio."</p> <p style="TEXT-INDENT: -0.25in; MARGIN: 0in 0in 0pt 0.75in">&nbsp;</p> <p style="TEXT-INDENT: -0.25in; MARGIN: 0in 0in 0pt 0.75in">b.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The section entitled "Principal Investment Strategies" of the summary section of the Portfolio's Prospectuses is hereby deleted and replaced with the following:</p><br/><p style="MARGIN: 0in 0in 0pt 0.75in"><b>PRINCIPAL INVESTMENT STRATEGIES</b></p> <p style="MARGIN: 0in 0in 0pt 0.75in">&nbsp;</p> <p style="MARGIN: 0in 0in 0pt 0.75in">Under normal market conditions, the Portfolio invests at least 80% of its net assets (plus borrowings for investment purposes) in a diversified portfolio of debt instruments of varying maturities which may be represented by forwards or derivatives such as options, futures contracts, or swap agreements. The Portfolio will provide shareholders with at least 60 days' prior notice of any change in this investment policy. The types of debt instruments in which the Portfolio may invest, include but are not limited to, corporate, government, and mortgage bonds, which, at the time of purchase, are rated investment-grade (e.g., rated at least BBB- by Standard&nbsp;&amp; Poor's Ratings Services or Baa3 by Moody's Investors Service,&nbsp;Inc.) or have an equivalent rating by a nationally recognized statistical rating organization, or are of comparable quality if unrated.</p> <p style="MARGIN: 0in 0in 0pt 0.75in">&nbsp;</p> <p style="MARGIN: 0in 0in 0pt 0.75in">Although the Portfolio may invest a portion of its assets in high-yield (high risk) debt instruments, commonly referred to as "junk bonds," rated below investment-grade, the Portfolio will seek to maintain a minimum average portfolio quality rating of at least investment-grade. Generally, the sub-adviser ("Sub-Adviser") maintains a dollar-weighted average duration between three and ten years. Duration is the most commonly used measure of risk in debt instruments as it incorporates multiple features of the debt instruments (e.g., yield, coupon, maturity,&nbsp;etc.) into one number. Duration is a measure of sensitivity of the price of a debt security 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 debt instrument. Duration is expressed as a number of years. The bigger the duration number, the greater the interest-rate risk or reward for the debt instrument prices. For example, the price of a bond 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 with an average duration of five years would be expected to rise approximately 5% if interest rates drop by one percentage point.</p> <p style="MARGIN: 0in 0in 0pt 0.75in">&nbsp;</p> <p style="MARGIN: 0in 0in 0pt 0.75in">The Portfolio may also invest in: preferred stocks; high quality money market instruments; municipal bonds; debt instruments of foreign issuers (including those located in emerging market countries); securities denominated in foreign currencies; foreign currencies; mortgage-backed and asset-backed securities; bank loans and floating rate secured loans ("Senior Loans"); and derivatives including futures, options, and swaps involving securities, securities indices and interest rates, which may be denominated in the U.S. dollar or foreign currencies. The Portfolio 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 Portfolio.</p> <p style="MARGIN: 0in 0in 0pt 0.75in">&nbsp;</p> <p style="MARGIN: 0in 0in 0pt 0.75in">The Portfolio may seek to obtain exposure to the securities in which it invests by entering into a series of purchase and sale contracts or through other investment techniques such as buy backs and dollar rolls.</p> <p style="MARGIN: 0in 0in 0pt 0.75in">&nbsp;</p> <p style="MARGIN: 0in 0in 0pt 0.75in">The Portfolio may 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").</p> <p style="MARGIN: 0in 0in 0pt 0.75in">&nbsp;</p> <p style="MARGIN: 0in 0in 0pt 0.75in">The Sub-Adviser believes that relationships between the drivers of debt instrument returns change over time and that recognizing this is key to managing debt instrument assets.</p><p style="MARGIN: 0in 0in 0pt 0.75in"><br/></p><p style="MARGIN: 0in 0in 0pt 0.75in">Therefore, the Sub-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.</p><p style="MARGIN: 0in 0in 0pt 0.75in">&nbsp;</p><p style="MARGIN: 0in 0in 0pt 0.75in">The Sub-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.</p><p style="MARGIN: 0in 0in 0pt 0.75in">&nbsp;</p><p style="MARGIN: 0in 0in 0pt 0.75in"> </p><p style="MARGIN: 0in 0in 0pt 0.75in">The Portfolio may lend portfolio securities on a short-term or long-term basis, up to 33 1/3% of its total assets.</p><p style="MARGIN: 0in 0in 0pt 0.75in">&nbsp;</p><p style="MARGIN: 0in 0in 0pt 0.75in"><b>Pending Merger</b> - On October&nbsp;22, 2013, a majority of the Portfolio&#146;s Board of Trustees approved a proposal to reorganize the Portfolio into ING Intermediate Bond Portfolio. If shareholder approval is obtained, it is expected that the reorganization will take place on or about March&nbsp;21, 2014. The Portfolio may engage in transition management techniques prior to the closing of the reorganization during which time the Portfolio may not pursue its investment objective and investment strategies. Shareholders will be notified if the reorganization is not approved.&#160; After the reorganization you will hold shares of ING Intermediate Bond Portfolio. For more information regarding ING Intermediate Bond Portfolio, please contact a Shareholder Services representative or your financial professional.</p><p style="MARGIN: 0in 0in 0pt 0.75in"><br/></p><p style="margin: 0in 0in 0.0001pt 0.75in; text-indent: -0.25in;">c.&nbsp;&nbsp;&nbsp;The section entitled "Principal Risks" of the summary section of the Portfolio's Prospectus is hereby deleted and replaced with the following:</p><p style="margin: 0in 0in 0.0001pt 0.75in; text-indent: -0.25in;">&nbsp;</p><p style="margin: 0in 0in 0.0001pt 0.5in; text-indent: 0.25in;"><b>PRINCIPAL RISKS</b></p><p style="margin: 0in 0in 0.0001pt 0.5in; text-indent: 0.25in;">&nbsp;</p><p style="margin: 0in 0in 0.0001pt 0.75in;">You could lose money on an investment in the Portfolio. Any of the following risks, among others, could affect Portfolio performance or cause the Portfolio to lose money or to underperform market averages of other funds.</p><p style="margin: 0in 0in 0.0001pt 0.75in;">&nbsp;</p><p style="margin: 0in 0in 0.0001pt 0.75in;"><b>Call&nbsp;</b>During periods of falling interest rates, a bond issuer may "call" or repay its high-yielding bond before the bond's maturity date. If forced to invest the unanticipated proceeds at lower interest rates, the Portfolio would experience a decline in income.</p><p style="margin: 0in 0in 0.0001pt 0.75in;">&nbsp;</p><p style="margin: 0in 0in 0.0001pt 0.75in;"><b>Company&nbsp;</b>The price of a given company's stock could decline or underperform for many reasons including, among others, poor management, financial problems, or business challenges. If a company declares bankruptcy or becomes insolvent, its stock could become worthless.</p><p style="margin: 0in 0in 0.0001pt 0.75in;">&nbsp;</p><p style="margin: 0in 0in 0.0001pt 0.75in;"><b>Credit&nbsp;</b>Prices of bonds and other debt instruments can fall if the issuer's actual or perceived financial health deteriorates, whether because of broad economic or issuer-specific reasons. In certain cases, the issuer could be late in paying interest or principal, or could fail to pay altogether.</p><p style="margin: 0in 0in 0.0001pt 0.75in;">&nbsp;</p><p style="margin: 0in 0in 0.0001pt 0.75in;"><b>Currency&nbsp;</b>To the extent that the Portfolio invests directly in foreign (non-U.S.) currencies or in securities denominated in, or that trade in, foreign (non-U.S.) currencies, it is subject to the&nbsp;risk that those foreign (non-U.S.) currencies will decline in value relative to the U.S. dollar or, in the case of hedging positions, that the U.S. dollar will decline in value relative to the currency being hedged.</p><p style="margin: 0in 0in 0.0001pt 0.75in;">&nbsp;</p><p style="margin: 0in 0in 0.0001pt 0.75in;"><b>Derivative Instruments&nbsp;</b>Derivative instruments are subject to a number of risks, including the risk of changes in the market price of the underlying securities, credit risk with respect to the counterparty, risk of loss due to changes in interest rates and liquidity risk. The use of certain derivatives may also have a leveraging effect which may increase the volatility of the Portfolio and reduce its returns. Derivatives may not perform as expected, so the Portfolio may not realize the intended benefits. When used for hedging, the change in value of a derivative may not correlate as expected with the currency, security or other risk being hedged. In addition, given their complexity, derivatives expose the Portfolio to the risk of improper valuation.</p><p style="margin: 0in 0in 0.0001pt 0.75in;">&nbsp;</p><p style="margin: 0in 0in 0.0001pt 0.75in;"><b>Foreign Investments/Developing and Emerging Markets&nbsp;</b>Investing in foreign (non-U.S.) securities may result in the Portfolio experiencing more rapid and extreme changes in value than a fund that invests exclusively in securities of U.S. companies due to: smaller markets; differing reporting, accounting, and auditing standards; nationalization, expropriation, or confiscatory taxation; foreign currency fluctuations, currency blockage, or replacement; potential for default on sovereign debt; or political changes or diplomatic developments. Markets and economies throughout the world are becoming increasingly interconnected, and conditions or events in one market, country or region may adversely impact investments or issuers in another market, country or region. Foreign investment risks may be greater in developing and emerging markets than in developed markets.</p><p style="margin: 0in 0in 0.0001pt 0.75in;">&nbsp;</p><p style="margin: 0in 0in 0.0001pt 0.75in;"><b>High-Yield Securities&nbsp;</b>Investments rated below investment-grade (or of similar quality if unrated) are known as "high-yield securities" or "junk bonds." High-yield securities are subject to greater levels of credit and liquidity risks. High-yield securities are considered primarily speculative with respect to the issuer's continuing ability to make principal and interest payments.</p><p style="margin: 0in 0in 0.0001pt 0.75in;">&nbsp;</p><p style="margin: 0in 0in 0.0001pt 0.75in;"><b>Interest in Loans&nbsp;</b>The value and the income streams of interests in loans (including participation interests in lease financings and assignments in secured variable or floating rate loans) will decline if borrowers delay payments or fail to pay altogether. A large rise in interest rates could increase this risk. Although loans are generally fully collateralized when purchased, the collateral may become illiquid or decline in value. Many loans themselves carry liquidity and valuation risks.</p><p style="margin: 0in 0in 0.0001pt 0.75in;">&nbsp;</p><p style="margin: 0in 0in 0.0001pt 0.75in;"><b>Interest Rate&nbsp;</b>With bonds and other fixed rate debt instruments, a rise in interest rates generally causes values to fall; conversely, values generally rise as interest rates fall. The higher the credit quality of the instrument, and the longer its maturity or duration, the more sensitive it is likely to be to interest rate risk. In the case of inverse securities, the interest rate generally will decrease when the market rate of interest to which the inverse security is indexed decreases. As of the date of this Prospectus, interest rates in the United States are at or near historic lows, which may increase the Portfolio's exposure to risks associated with rising interest rates.</p><p style="margin: 0in 0in 0.0001pt 0.75in;">&nbsp;</p><p style="margin: 0in 0in 0.0001pt 0.75in;"><b>Investment Model&nbsp;</b>The manager's proprietary model may not adequately allow for existing or unforeseen market factors or the interplay between such factors.</p><p style="margin: 0in 0in 0.0001pt;">&nbsp;</p><p style="margin: 0in 0in 0.0001pt 0.75in;"><b>Liquidity&nbsp;</b>If a security is illiquid, the Portfolio might be unable to sell the security at a time when the Portfolio's manager might wish to sell, and the security could have the effect of decreasing the overall level of the Portfolio's liquidity. Further, the lack of an established&nbsp;secondary market may make it more difficult to value illiquid securities, which could vary from the amount the Portfolio could realize upon disposition. The Portfolio may make investments that become less liquid in response to market developments or adverse investor perception. The Portfolio could lose money if it cannot sell a security at the time and price that would be most beneficial to the Portfolio.</p><p style="margin: 0in 0in 0.0001pt 0.75in;">&nbsp;</p><p style="margin: 0in 0in 0.0001pt 0.75in;"><b>Market&nbsp;</b>Stock prices may be volatile and are affected by the real or perceived impacts of such factors as economic conditions and political events. Stock markets tend to be cyclical, with periods when stock prices generally rise and periods when stock prices generally decline. Any given stock market segment may remain out of favor with investors for a short or long period of time, and stocks as an asset class may underperform bonds or other asset classes during some periods. Additionally, legislative, regulatory or tax policies or developments in these areas may adversely impact the investment techniques available to a manager, add to Portfolio costs and impair the ability of the Portfolio to achieve its investment objectives.</p><p style="margin: 0in 0in 0.0001pt 0.75in;">&nbsp;</p><p style="margin: 0in 0in 0.0001pt 0.75in;"><b>Mortgage- and/or Asset-Backed Securities&nbsp;</b>Defaults on or the low credit quality or liquidity of the underlying assets of the asset-backed (including mortgage-backed) securities held by the Portfolio may impair the value of the securities. There may be limitations on the enforceability of any security interest granted with respect to those underlying assets. These securities also present a higher degree of prepayment and extension risk and interest rate risk than do other types of fixed-income securities.</p><p style="margin: 0in 0in 0.0001pt 0.75in;">&nbsp;</p><p style="margin: 0in 0in 0.0001pt 0.75in;"><b>Municipal Obligations&nbsp;</b>The municipal market in which the Portfolio invests is volatile and can be significantly affected by adverse tax, legislative, or political changes and the financial condition of the issuers of municipal securities.</p><p style="margin: 0in 0in 0.0001pt 0.75in;">&nbsp;</p><p style="margin: 0in 0in 0.0001pt 0.75in;"><b>Other Investment Companies&nbsp;</b>The main risk of investing in other investment companies, including exchange-traded funds, is the risk that the value of the securities underlying an investment company might decrease. Because the Portfolio may invest in other investment companies, you will pay a proportionate share of the expenses of those other investment companies (including management fees, administration fees, and custodial fees) in addition to the expenses of the Portfolio.</p><p align="center" style="margin: 0in 0in 0.0001pt 0.75in; text-align: center;">&nbsp;</p><p style="margin: 0in 0in 0.0001pt 0.75in;"><b>Prepayment and Extension&nbsp;</b>Prepayment risk is the risk that principal on mortgages or other loan obligations underlying a security may be repaid prior to the stated maturity date, which may reduce the market value of the security and the anticipated yield-to-maturity. Extension risk is the risk that an issuer will exercise its right to repay principal on an obligation held by the Portfolio later than expected, which may decrease the value of the obligation and prevent the Portfolio from investing expected repayment proceeds in securities paying yields higher than the yields paid by the securities that were expected to be repaid.</p><p style="margin: 0in 0in 0.0001pt 0.75in;">&nbsp;</p><p style="margin: 0in 0in 0.0001pt 0.75in;"><b>Securities Lending&nbsp;</b>Securities lending involves two primary risks: "investment risk" and "borrower default risk." Investment risk is the risk that the Portfolio will lose money from the investment of the cash collateral received from the borrower. Borrower default risk is the risk that the Portfolio will lose money due to the failure of a borrower to return a borrowed security in a timely manner.</p><p style="margin: 0in 0in 0.0001pt 0.75in;">&nbsp;</p><p style="margin: 0in 0in 0.0001pt 0.75in;"><b>U.S. Government Securities and Obligations&nbsp;</b>U.S. government securities are obligations of, or guaranteed by, the U.S. government, its agencies or government-sponsored enterprises. U.S. government securities are subject to market and interest rate risk, and may be subject to varying degrees of credit risk.</p><p style="margin: 0in 0in 0.0001pt 0.75in;"><br/></p><p style="margin: 0in 0in 0.0001pt 0.75in;">An investment in the Portfolio is not a bank deposit and is not insured or guaranteed by the Federal Deposit Insurance Corporation, the Federal Reserve Board or any other government agency.</p> <p style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align="center"><b>ING INVESTORS TRUST</b></p> <p style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align="center">ING PIMCO Total Return Bond Portfolio</p> <p style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align="center">("Portfolio")</p> <p style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align="center">&nbsp;</p> <p style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align="center">Supplement dated November&nbsp;4, 2013</p> <p style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align="center">to the Portfolio's Adviser Class&nbsp;("Class&nbsp;ADV") Prospectus,</p> <p style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align="center">Institutional Class&nbsp;("Class&nbsp;I") Prospectus, Service Class&nbsp;("Class&nbsp;S") Prospectus</p> <p style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align="center">and Service 2 Class&nbsp;("Class&nbsp;S2") Prospectus,</p> <p style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align="center">each dated April&nbsp;30, 2013; and</p> <p style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align="center">&nbsp;</p> <p style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align="center">to the Portfolio's Class&nbsp;ADV Summary Prospectus, Class&nbsp;I Summary Prospectus,</p> <p style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align="center">Class&nbsp;S Summary Prospectus and Class&nbsp;S2 Summary Prospectus,</p> <p style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align="center">each dated April&nbsp;30, 2013</p> <p style="TEXT-ALIGN: center; MARGIN: 0in 0in 0pt" align="center">&nbsp;(each a "Prospectus" and collectively "Prospectuses")</p><br/><p style="MARGIN: 0in 0in 0pt 0.25in">Effective on the close of business February&nbsp;4, 2014, the Portfolio's Prospectuses are hereby revised as follows:</p> <p style="MARGIN: 0in 0in 0pt 0.25in">&nbsp;</p> <p style="TEXT-INDENT: -0.25in; MARGIN: 0in 0in 0pt 0.75in">a.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;All references to "ING PIMCO Total Return Bond Portfolio" are hereby deleted and replaced with "ING Total Return Bond Portfolio."</p> <p style="TEXT-INDENT: -0.25in; MARGIN: 0in 0in 0pt 0.75in">&nbsp;</p> <p style="TEXT-INDENT: -0.25in; MARGIN: 0in 0in 0pt 0.75in">b.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The section entitled "Principal Investment Strategies" of the summary section of the Portfolio's Prospectuses is hereby deleted and replaced with the following:</p><br/><p style="MARGIN: 0in 0in 0pt 0.75in"><b>PRINCIPAL INVESTMENT STRATEGIES</b></p> <p style="MARGIN: 0in 0in 0pt 0.75in">&nbsp;</p> <p style="MARGIN: 0in 0in 0pt 0.75in">Under normal market conditions, the Portfolio invests at least 80% of its net assets (plus borrowings for investment purposes) in a diversified portfolio of debt instruments of varying maturities which may be represented by forwards or derivatives such as options, futures contracts, or swap agreements. The Portfolio will provide shareholders with at least 60 days' prior notice of any change in this investment policy. The types of debt instruments in which the Portfolio may invest, include but are not limited to, corporate, government, and mortgage bonds, which, at the time of purchase, are rated investment-grade (e.g., rated at least BBB- by Standard&nbsp;&amp; Poor's Ratings Services or Baa3 by Moody's Investors Service,&nbsp;Inc.) or have an equivalent rating by a nationally recognized statistical rating organization, or are of comparable quality if unrated.</p> <p style="MARGIN: 0in 0in 0pt 0.75in">&nbsp;</p> <p style="MARGIN: 0in 0in 0pt 0.75in">Although the Portfolio may invest a portion of its assets in high-yield (high risk) debt instruments, commonly referred to as "junk bonds," rated below investment-grade, the Portfolio will seek to maintain a minimum average portfolio quality rating of at least investment-grade. Generally, the sub-adviser ("Sub-Adviser") maintains a dollar-weighted average duration between three and ten years. Duration is the most commonly used measure of risk in debt instruments as it incorporates multiple features of the debt instruments (e.g., yield, coupon, maturity,&nbsp;etc.) into one number. Duration is a measure of sensitivity of the price of a debt security 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 debt instrument. Duration is expressed as a number of years. The bigger the duration number, the greater the interest-rate risk or reward for the debt instrument prices. For example, the price of a bond 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 with an average duration of five years would be expected to rise approximately 5% if interest rates drop by one percentage point.</p> <p style="MARGIN: 0in 0in 0pt 0.75in">&nbsp;</p> <p style="MARGIN: 0in 0in 0pt 0.75in">The Portfolio may also invest in: preferred stocks; high quality money market instruments; municipal bonds; debt instruments of foreign issuers (including those located in emerging market countries); securities denominated in foreign currencies; foreign currencies; mortgage-backed and asset-backed securities; bank loans and floating rate secured loans ("Senior Loans"); and derivatives including futures, options, and swaps involving securities, securities indices and interest rates, which may be denominated in the U.S. dollar or foreign currencies. The Portfolio 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 Portfolio.</p> <p style="MARGIN: 0in 0in 0pt 0.75in">&nbsp;</p> <p style="MARGIN: 0in 0in 0pt 0.75in">The Portfolio may seek to obtain exposure to the securities in which it invests by entering into a series of purchase and sale contracts or through other investment techniques such as buy backs and dollar rolls.</p> <p style="MARGIN: 0in 0in 0pt 0.75in">&nbsp;</p> <p style="MARGIN: 0in 0in 0pt 0.75in">The Portfolio may 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").</p> <p style="MARGIN: 0in 0in 0pt 0.75in">&nbsp;</p> <p style="MARGIN: 0in 0in 0pt 0.75in">The Sub-Adviser believes that relationships between the drivers of debt instrument returns change over time and that recognizing this is key to managing debt instrument assets.</p><p style="MARGIN: 0in 0in 0pt 0.75in"><br/></p><p style="MARGIN: 0in 0in 0pt 0.75in">Therefore, the Sub-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.</p><p style="MARGIN: 0in 0in 0pt 0.75in">&nbsp;</p><p style="MARGIN: 0in 0in 0pt 0.75in">The Sub-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.</p><p style="MARGIN: 0in 0in 0pt 0.75in">&nbsp;</p><p style="MARGIN: 0in 0in 0pt 0.75in"> </p><p style="MARGIN: 0in 0in 0pt 0.75in">The Portfolio may lend portfolio securities on a short-term or long-term basis, up to 33 1/3% of its total assets.</p><p style="MARGIN: 0in 0in 0pt 0.75in">&nbsp;</p><p style="MARGIN: 0in 0in 0pt 0.75in"><b>Pending Merger</b> - On October&nbsp;22, 2013, a majority of the Portfolio&#146;s Board of Trustees approved a proposal to reorganize the Portfolio into ING Intermediate Bond Portfolio. If shareholder approval is obtained, it is expected that the reorganization will take place on or about March&nbsp;21, 2014. The Portfolio may engage in transition management techniques prior to the closing of the reorganization during which time the Portfolio may not pursue its investment objective and investment strategies. Shareholders will be notified if the reorganization is not approved.&#160; After the reorganization you will hold shares of ING Intermediate Bond Portfolio. For more information regarding ING Intermediate Bond Portfolio, please contact a Shareholder Services representative or your financial professional.</p><p style="MARGIN: 0in 0in 0pt 0.75in"><br/></p><p style="margin: 0in 0in 0.0001pt 0.75in; text-indent: -0.25in;">c.&nbsp;&nbsp;&nbsp;The section entitled "Principal Risks" of the summary section of the Portfolio's Prospectus is hereby deleted and replaced with the following:</p><p style="margin: 0in 0in 0.0001pt 0.75in; text-indent: -0.25in;">&nbsp;</p><p style="margin: 0in 0in 0.0001pt 0.5in; text-indent: 0.25in;"><b>PRINCIPAL RISKS</b></p><p style="margin: 0in 0in 0.0001pt 0.5in; text-indent: 0.25in;">&nbsp;</p><p style="margin: 0in 0in 0.0001pt 0.75in;">You could lose money on an investment in the Portfolio. Any of the following risks, among others, could affect Portfolio performance or cause the Portfolio to lose money or to underperform market averages of other funds.</p><p style="margin: 0in 0in 0.0001pt 0.75in;">&nbsp;</p><p style="margin: 0in 0in 0.0001pt 0.75in;"><b>Call&nbsp;</b>During periods of falling interest rates, a bond issuer may "call" or repay its high-yielding bond before the bond's maturity date. If forced to invest the unanticipated proceeds at lower interest rates, the Portfolio would experience a decline in income.</p><p style="margin: 0in 0in 0.0001pt 0.75in;">&nbsp;</p><p style="margin: 0in 0in 0.0001pt 0.75in;"><b>Company&nbsp;</b>The price of a given company's stock could decline or underperform for many reasons including, among others, poor management, financial problems, or business challenges. If a company declares bankruptcy or becomes insolvent, its stock could become worthless.</p><p style="margin: 0in 0in 0.0001pt 0.75in;">&nbsp;</p><p style="margin: 0in 0in 0.0001pt 0.75in;"><b>Credit&nbsp;</b>Prices of bonds and other debt instruments can fall if the issuer's actual or perceived financial health deteriorates, whether because of broad economic or issuer-specific reasons. In certain cases, the issuer could be late in paying interest or principal, or could fail to pay altogether.</p><p style="margin: 0in 0in 0.0001pt 0.75in;">&nbsp;</p><p style="margin: 0in 0in 0.0001pt 0.75in;"><b>Currency&nbsp;</b>To the extent that the Portfolio invests directly in foreign (non-U.S.) currencies or in securities denominated in, or that trade in, foreign (non-U.S.) currencies, it is subject to the&nbsp;risk that those foreign (non-U.S.) currencies will decline in value relative to the U.S. dollar or, in the case of hedging positions, that the U.S. dollar will decline in value relative to the currency being hedged.</p><p style="margin: 0in 0in 0.0001pt 0.75in;">&nbsp;</p><p style="margin: 0in 0in 0.0001pt 0.75in;"><b>Derivative Instruments&nbsp;</b>Derivative instruments are subject to a number of risks, including the risk of changes in the market price of the underlying securities, credit risk with respect to the counterparty, risk of loss due to changes in interest rates and liquidity risk. The use of certain derivatives may also have a leveraging effect which may increase the volatility of the Portfolio and reduce its returns. Derivatives may not perform as expected, so the Portfolio may not realize the intended benefits. When used for hedging, the change in value of a derivative may not correlate as expected with the currency, security or other risk being hedged. In addition, given their complexity, derivatives expose the Portfolio to the risk of improper valuation.</p><p style="margin: 0in 0in 0.0001pt 0.75in;">&nbsp;</p><p style="margin: 0in 0in 0.0001pt 0.75in;"><b>Foreign Investments/Developing and Emerging Markets&nbsp;</b>Investing in foreign (non-U.S.) securities may result in the Portfolio experiencing more rapid and extreme changes in value than a fund that invests exclusively in securities of U.S. companies due to: smaller markets; differing reporting, accounting, and auditing standards; nationalization, expropriation, or confiscatory taxation; foreign currency fluctuations, currency blockage, or replacement; potential for default on sovereign debt; or political changes or diplomatic developments. Markets and economies throughout the world are becoming increasingly interconnected, and conditions or events in one market, country or region may adversely impact investments or issuers in another market, country or region. Foreign investment risks may be greater in developing and emerging markets than in developed markets.</p><p style="margin: 0in 0in 0.0001pt 0.75in;">&nbsp;</p><p style="margin: 0in 0in 0.0001pt 0.75in;"><b>High-Yield Securities&nbsp;</b>Investments rated below investment-grade (or of similar quality if unrated) are known as "high-yield securities" or "junk bonds." High-yield securities are subject to greater levels of credit and liquidity risks. High-yield securities are considered primarily speculative with respect to the issuer's continuing ability to make principal and interest payments.</p><p style="margin: 0in 0in 0.0001pt 0.75in;">&nbsp;</p><p style="margin: 0in 0in 0.0001pt 0.75in;"><b>Interest in Loans&nbsp;</b>The value and the income streams of interests in loans (including participation interests in lease financings and assignments in secured variable or floating rate loans) will decline if borrowers delay payments or fail to pay altogether. A large rise in interest rates could increase this risk. Although loans are generally fully collateralized when purchased, the collateral may become illiquid or decline in value. Many loans themselves carry liquidity and valuation risks.</p><p style="margin: 0in 0in 0.0001pt 0.75in;">&nbsp;</p><p style="margin: 0in 0in 0.0001pt 0.75in;"><b>Interest Rate&nbsp;</b>With bonds and other fixed rate debt instruments, a rise in interest rates generally causes values to fall; conversely, values generally rise as interest rates fall. The higher the credit quality of the instrument, and the longer its maturity or duration, the more sensitive it is likely to be to interest rate risk. In the case of inverse securities, the interest rate generally will decrease when the market rate of interest to which the inverse security is indexed decreases. As of the date of this Prospectus, interest rates in the United States are at or near historic lows, which may increase the Portfolio's exposure to risks associated with rising interest rates.</p><p style="margin: 0in 0in 0.0001pt 0.75in;">&nbsp;</p><p style="margin: 0in 0in 0.0001pt 0.75in;"><b>Investment Model&nbsp;</b>The manager's proprietary model may not adequately allow for existing or unforeseen market factors or the interplay between such factors.</p><p style="margin: 0in 0in 0.0001pt;">&nbsp;</p><p style="margin: 0in 0in 0.0001pt 0.75in;"><b>Liquidity&nbsp;</b>If a security is illiquid, the Portfolio might be unable to sell the security at a time when the Portfolio's manager might wish to sell, and the security could have the effect of decreasing the overall level of the Portfolio's liquidity. Further, the lack of an established&nbsp;secondary market may make it more difficult to value illiquid securities, which could vary from the amount the Portfolio could realize upon disposition. The Portfolio may make investments that become less liquid in response to market developments or adverse investor perception. The Portfolio could lose money if it cannot sell a security at the time and price that would be most beneficial to the Portfolio.</p><p style="margin: 0in 0in 0.0001pt 0.75in;">&nbsp;</p><p style="margin: 0in 0in 0.0001pt 0.75in;"><b>Market&nbsp;</b>Stock prices may be volatile and are affected by the real or perceived impacts of such factors as economic conditions and political events. Stock markets tend to be cyclical, with periods when stock prices generally rise and periods when stock prices generally decline. Any given stock market segment may remain out of favor with investors for a short or long period of time, and stocks as an asset class may underperform bonds or other asset classes during some periods. Additionally, legislative, regulatory or tax policies or developments in these areas may adversely impact the investment techniques available to a manager, add to Portfolio costs and impair the ability of the Portfolio to achieve its investment objectives.</p><p style="margin: 0in 0in 0.0001pt 0.75in;">&nbsp;</p><p style="margin: 0in 0in 0.0001pt 0.75in;"><b>Mortgage- and/or Asset-Backed Securities&nbsp;</b>Defaults on or the low credit quality or liquidity of the underlying assets of the asset-backed (including mortgage-backed) securities held by the Portfolio may impair the value of the securities. There may be limitations on the enforceability of any security interest granted with respect to those underlying assets. These securities also present a higher degree of prepayment and extension risk and interest rate risk than do other types of fixed-income securities.</p><p style="margin: 0in 0in 0.0001pt 0.75in;">&nbsp;</p><p style="margin: 0in 0in 0.0001pt 0.75in;"><b>Municipal Obligations&nbsp;</b>The municipal market in which the Portfolio invests is volatile and can be significantly affected by adverse tax, legislative, or political changes and the financial condition of the issuers of municipal securities.</p><p style="margin: 0in 0in 0.0001pt 0.75in;">&nbsp;</p><p style="margin: 0in 0in 0.0001pt 0.75in;"><b>Other Investment Companies&nbsp;</b>The main risk of investing in other investment companies, including exchange-traded funds, is the risk that the value of the securities underlying an investment company might decrease. Because the Portfolio may invest in other investment companies, you will pay a proportionate share of the expenses of those other investment companies (including management fees, administration fees, and custodial fees) in addition to the expenses of the Portfolio.</p><p align="center" style="margin: 0in 0in 0.0001pt 0.75in; text-align: center;">&nbsp;</p><p style="margin: 0in 0in 0.0001pt 0.75in;"><b>Prepayment and Extension&nbsp;</b>Prepayment risk is the risk that principal on mortgages or other loan obligations underlying a security may be repaid prior to the stated maturity date, which may reduce the market value of the security and the anticipated yield-to-maturity. Extension risk is the risk that an issuer will exercise its right to repay principal on an obligation held by the Portfolio later than expected, which may decrease the value of the obligation and prevent the Portfolio from investing expected repayment proceeds in securities paying yields higher than the yields paid by the securities that were expected to be repaid.</p><p style="margin: 0in 0in 0.0001pt 0.75in;">&nbsp;</p><p style="margin: 0in 0in 0.0001pt 0.75in;"><b>Securities Lending&nbsp;</b>Securities lending involves two primary risks: "investment risk" and "borrower default risk." Investment risk is the risk that the Portfolio will lose money from the investment of the cash collateral received from the borrower. Borrower default risk is the risk that the Portfolio will lose money due to the failure of a borrower to return a borrowed security in a timely manner.</p><p style="margin: 0in 0in 0.0001pt 0.75in;">&nbsp;</p><p style="margin: 0in 0in 0.0001pt 0.75in;"><b>U.S. Government Securities and Obligations&nbsp;</b>U.S. government securities are obligations of, or guaranteed by, the U.S. government, its agencies or government-sponsored enterprises. 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Risk/Return: rr_RiskReturnAbstract  
Registrant Name dei_EntityRegistrantName ING INVESTORS TRUST
Prospectus Date rr_ProspectusDate Apr. 30, 2013
Document Creation Date dei_DocumentCreationDate Nov. 04, 2013
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Risk/Return: rr_RiskReturnAbstract  
Registrant Name dei_EntityRegistrantName ING INVESTORS TRUST
Prospectus Date rr_ProspectusDate Apr. 30, 2013
Supplement [Text Block] ingit_SupplementTextBlock

ING INVESTORS TRUST

ING PIMCO Total Return Bond Portfolio

("Portfolio")

 

Supplement dated November 4, 2013

to the Portfolio's Adviser Class ("Class ADV") Prospectus,

Institutional Class ("Class I") Prospectus, Service Class ("Class S") Prospectus

and Service 2 Class ("Class S2") Prospectus,

each dated April 30, 2013; and

 

to the Portfolio's Class ADV Summary Prospectus, Class I Summary Prospectus,

Class S Summary Prospectus and Class S2 Summary Prospectus,

each dated April 30, 2013

 (each a "Prospectus" and collectively "Prospectuses")


Effective on the close of business February 4, 2014, the Portfolio's Prospectuses are hereby revised as follows:

 

a.     All references to "ING PIMCO Total Return Bond Portfolio" are hereby deleted and replaced with "ING Total Return Bond Portfolio."

 

b.     The section entitled "Principal Investment Strategies" of the summary section of the Portfolio's Prospectuses is hereby deleted and replaced with the following:


PRINCIPAL INVESTMENT STRATEGIES

 

Under normal market conditions, the Portfolio invests at least 80% of its net assets (plus borrowings for investment purposes) in a diversified portfolio of debt instruments of varying maturities which may be represented by forwards or derivatives such as options, futures contracts, or swap agreements. The Portfolio will provide shareholders with at least 60 days' prior notice of any change in this investment policy. The types of debt instruments in which the Portfolio may invest, include but are not limited to, corporate, government, and mortgage bonds, which, at the time of purchase, are rated investment-grade (e.g., rated at least BBB- by Standard & Poor's Ratings Services or Baa3 by Moody's Investors Service, Inc.) or have an equivalent rating by a nationally recognized statistical rating organization, or are of comparable quality if unrated.

 

Although the Portfolio may invest a portion of its assets in high-yield (high risk) debt instruments, commonly referred to as "junk bonds," rated below investment-grade, the Portfolio will seek to maintain a minimum average portfolio quality rating of at least investment-grade. Generally, the sub-adviser ("Sub-Adviser") maintains a dollar-weighted average duration between three and ten years. Duration is the most commonly used measure of risk in debt instruments as it incorporates multiple features of the debt instruments (e.g., yield, coupon, maturity, etc.) into one number. Duration is a measure of sensitivity of the price of a debt security 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 debt instrument. Duration is expressed as a number of years. The bigger the duration number, the greater the interest-rate risk or reward for the debt instrument prices. For example, the price of a bond 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 with an average duration of five years would be expected to rise approximately 5% if interest rates drop by one percentage point.

 

The Portfolio may also invest in: preferred stocks; high quality money market instruments; municipal bonds; debt instruments of foreign issuers (including those located in emerging market countries); securities denominated in foreign currencies; foreign currencies; mortgage-backed and asset-backed securities; bank loans and floating rate secured loans ("Senior Loans"); and derivatives including futures, options, and swaps involving securities, securities indices and interest rates, which may be denominated in the U.S. dollar or foreign currencies. The Portfolio 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 Portfolio.

 

The Portfolio may seek to obtain exposure to the securities in which it invests by entering into a series of purchase and sale contracts or through other investment techniques such as buy backs and dollar rolls.

 

The Portfolio may 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 Sub-Adviser believes that relationships between the drivers of debt instrument returns change over time and that recognizing this is key to managing debt instrument assets.


Therefore, the Sub-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 Sub-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 Portfolio may lend portfolio securities on a short-term or long-term basis, up to 33 1/3% of its total assets.

 

Pending Merger - On October 22, 2013, a majority of the Portfolio’s Board of Trustees approved a proposal to reorganize the Portfolio into ING Intermediate Bond Portfolio. If shareholder approval is obtained, it is expected that the reorganization will take place on or about March 21, 2014. The Portfolio may engage in transition management techniques prior to the closing of the reorganization during which time the Portfolio may not pursue its investment objective and investment strategies. Shareholders will be notified if the reorganization is not approved.  After the reorganization you will hold shares of ING Intermediate Bond Portfolio. For more information regarding ING Intermediate Bond Portfolio, please contact a Shareholder Services representative or your financial professional.


c.   The section entitled "Principal Risks" of the summary section of the Portfolio's Prospectus is hereby deleted and replaced with the following:

 

PRINCIPAL RISKS

 

You could lose money on an investment in the Portfolio. Any of the following risks, among others, could affect Portfolio performance or cause the Portfolio to lose money or to underperform market averages of other funds.

 

Call During periods of falling interest rates, a bond issuer may "call" or repay its high-yielding bond before the bond's maturity date. If forced to invest the unanticipated proceeds at lower interest rates, the Portfolio would experience a decline in income.

 

Company The price of a given company's stock could decline or underperform for many reasons including, among others, poor management, financial problems, or business challenges. If a company declares bankruptcy or becomes insolvent, its stock could become worthless.

 

Credit Prices of bonds and other debt instruments can fall if the issuer's actual or perceived financial health deteriorates, whether because of broad economic or issuer-specific reasons. In certain cases, the issuer could be late in paying interest or principal, or could fail to pay altogether.

 

Currency To the extent that the Portfolio invests directly in foreign (non-U.S.) currencies or in securities denominated in, or that trade in, foreign (non-U.S.) currencies, it is subject to the risk that those foreign (non-U.S.) currencies will decline in value relative to the U.S. dollar or, in the case of hedging positions, that the U.S. dollar will decline in value relative to the currency being hedged.

 

Derivative Instruments Derivative instruments are subject to a number of risks, including the risk of changes in the market price of the underlying securities, credit risk with respect to the counterparty, risk of loss due to changes in interest rates and liquidity risk. The use of certain derivatives may also have a leveraging effect which may increase the volatility of the Portfolio and reduce its returns. Derivatives may not perform as expected, so the Portfolio may not realize the intended benefits. When used for hedging, the change in value of a derivative may not correlate as expected with the currency, security or other risk being hedged. In addition, given their complexity, derivatives expose the Portfolio to the risk of improper valuation.

 

Foreign Investments/Developing and Emerging Markets Investing in foreign (non-U.S.) securities may result in the Portfolio experiencing more rapid and extreme changes in value than a fund that invests exclusively in securities of U.S. companies due to: smaller markets; differing reporting, accounting, and auditing standards; nationalization, expropriation, or confiscatory taxation; foreign currency fluctuations, currency blockage, or replacement; potential for default on sovereign debt; or political changes or diplomatic developments. Markets and economies throughout the world are becoming increasingly interconnected, and conditions or events in one market, country or region may adversely impact investments or issuers in another market, country or region. Foreign investment risks may be greater in developing and emerging markets than in developed markets.

 

High-Yield Securities Investments rated below investment-grade (or of similar quality if unrated) are known as "high-yield securities" or "junk bonds." High-yield securities are subject to greater levels of credit and liquidity risks. High-yield securities are considered primarily speculative with respect to the issuer's continuing ability to make principal and interest payments.

 

Interest in Loans The value and the income streams of interests in loans (including participation interests in lease financings and assignments in secured variable or floating rate loans) will decline if borrowers delay payments or fail to pay altogether. A large rise in interest rates could increase this risk. Although loans are generally fully collateralized when purchased, the collateral may become illiquid or decline in value. Many loans themselves carry liquidity and valuation risks.

 

Interest Rate With bonds and other fixed rate debt instruments, a rise in interest rates generally causes values to fall; conversely, values generally rise as interest rates fall. The higher the credit quality of the instrument, and the longer its maturity or duration, the more sensitive it is likely to be to interest rate risk. In the case of inverse securities, the interest rate generally will decrease when the market rate of interest to which the inverse security is indexed decreases. As of the date of this Prospectus, interest rates in the United States are at or near historic lows, which may increase the Portfolio's exposure to risks associated with rising interest rates.

 

Investment Model The manager's proprietary model may not adequately allow for existing or unforeseen market factors or the interplay between such factors.

 

Liquidity If a security is illiquid, the Portfolio might be unable to sell the security at a time when the Portfolio's manager might wish to sell, and the security could have the effect of decreasing the overall level of the Portfolio's liquidity. Further, the lack of an established secondary market may make it more difficult to value illiquid securities, which could vary from the amount the Portfolio could realize upon disposition. The Portfolio may make investments that become less liquid in response to market developments or adverse investor perception. The Portfolio could lose money if it cannot sell a security at the time and price that would be most beneficial to the Portfolio.

 

Market Stock prices may be volatile and are affected by the real or perceived impacts of such factors as economic conditions and political events. Stock markets tend to be cyclical, with periods when stock prices generally rise and periods when stock prices generally decline. Any given stock market segment may remain out of favor with investors for a short or long period of time, and stocks as an asset class may underperform bonds or other asset classes during some periods. Additionally, legislative, regulatory or tax policies or developments in these areas may adversely impact the investment techniques available to a manager, add to Portfolio costs and impair the ability of the Portfolio to achieve its investment objectives.

 

Mortgage- and/or Asset-Backed Securities Defaults on or the low credit quality or liquidity of the underlying assets of the asset-backed (including mortgage-backed) securities held by the Portfolio may impair the value of the securities. There may be limitations on the enforceability of any security interest granted with respect to those underlying assets. These securities also present a higher degree of prepayment and extension risk and interest rate risk than do other types of fixed-income securities.

 

Municipal Obligations The municipal market in which the Portfolio invests is volatile and can be significantly affected by adverse tax, legislative, or political changes and the financial condition of the issuers of municipal securities.

 

Other Investment Companies The main risk of investing in other investment companies, including exchange-traded funds, is the risk that the value of the securities underlying an investment company might decrease. Because the Portfolio may invest in other investment companies, you will pay a proportionate share of the expenses of those other investment companies (including management fees, administration fees, and custodial fees) in addition to the expenses of the Portfolio.

 

Prepayment and Extension Prepayment risk is the risk that principal on mortgages or other loan obligations underlying a security may be repaid prior to the stated maturity date, which may reduce the market value of the security and the anticipated yield-to-maturity. Extension risk is the risk that an issuer will exercise its right to repay principal on an obligation held by the Portfolio later than expected, which may decrease the value of the obligation and prevent the Portfolio from investing expected repayment proceeds in securities paying yields higher than the yields paid by the securities that were expected to be repaid.

 

Securities Lending Securities lending involves two primary risks: "investment risk" and "borrower default risk." Investment risk is the risk that the Portfolio will lose money from the investment of the cash collateral received from the borrower. Borrower default risk is the risk that the Portfolio will lose money due to the failure of a borrower to return a borrowed security in a timely manner.

 

U.S. Government Securities and Obligations U.S. government securities are obligations of, or guaranteed by, the U.S. government, its agencies or government-sponsored enterprises. U.S. government securities are subject to market and interest rate risk, and may be subject to varying degrees of credit risk.


An investment in the Portfolio is not a bank deposit and is not insured or guaranteed by the Federal Deposit Insurance Corporation, the Federal Reserve Board or any other government agency.

ING PIMCO Total Return Bond Portfolio
 
Risk/Return: rr_RiskReturnAbstract  
Supplement [Text Block] ingit_SupplementTextBlock

ING INVESTORS TRUST

ING PIMCO Total Return Bond Portfolio

("Portfolio")

 

Supplement dated November 4, 2013

to the Portfolio's Adviser Class ("Class ADV") Prospectus,

Institutional Class ("Class I") Prospectus, Service Class ("Class S") Prospectus

and Service 2 Class ("Class S2") Prospectus,

each dated April 30, 2013; and

 

to the Portfolio's Class ADV Summary Prospectus, Class I Summary Prospectus,

Class S Summary Prospectus and Class S2 Summary Prospectus,

each dated April 30, 2013

 (each a "Prospectus" and collectively "Prospectuses")


Effective on the close of business February 4, 2014, the Portfolio's Prospectuses are hereby revised as follows:

 

a.     All references to "ING PIMCO Total Return Bond Portfolio" are hereby deleted and replaced with "ING Total Return Bond Portfolio."

 

b.     The section entitled "Principal Investment Strategies" of the summary section of the Portfolio's Prospectuses is hereby deleted and replaced with the following:


PRINCIPAL INVESTMENT STRATEGIES

 

Under normal market conditions, the Portfolio invests at least 80% of its net assets (plus borrowings for investment purposes) in a diversified portfolio of debt instruments of varying maturities which may be represented by forwards or derivatives such as options, futures contracts, or swap agreements. The Portfolio will provide shareholders with at least 60 days' prior notice of any change in this investment policy. The types of debt instruments in which the Portfolio may invest, include but are not limited to, corporate, government, and mortgage bonds, which, at the time of purchase, are rated investment-grade (e.g., rated at least BBB- by Standard & Poor's Ratings Services or Baa3 by Moody's Investors Service, Inc.) or have an equivalent rating by a nationally recognized statistical rating organization, or are of comparable quality if unrated.

 

Although the Portfolio may invest a portion of its assets in high-yield (high risk) debt instruments, commonly referred to as "junk bonds," rated below investment-grade, the Portfolio will seek to maintain a minimum average portfolio quality rating of at least investment-grade. Generally, the sub-adviser ("Sub-Adviser") maintains a dollar-weighted average duration between three and ten years. Duration is the most commonly used measure of risk in debt instruments as it incorporates multiple features of the debt instruments (e.g., yield, coupon, maturity, etc.) into one number. Duration is a measure of sensitivity of the price of a debt security 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 debt instrument. Duration is expressed as a number of years. The bigger the duration number, the greater the interest-rate risk or reward for the debt instrument prices. For example, the price of a bond 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 with an average duration of five years would be expected to rise approximately 5% if interest rates drop by one percentage point.

 

The Portfolio may also invest in: preferred stocks; high quality money market instruments; municipal bonds; debt instruments of foreign issuers (including those located in emerging market countries); securities denominated in foreign currencies; foreign currencies; mortgage-backed and asset-backed securities; bank loans and floating rate secured loans ("Senior Loans"); and derivatives including futures, options, and swaps involving securities, securities indices and interest rates, which may be denominated in the U.S. dollar or foreign currencies. The Portfolio 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 Portfolio.

 

The Portfolio may seek to obtain exposure to the securities in which it invests by entering into a series of purchase and sale contracts or through other investment techniques such as buy backs and dollar rolls.

 

The Portfolio may 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 Sub-Adviser believes that relationships between the drivers of debt instrument returns change over time and that recognizing this is key to managing debt instrument assets.


Therefore, the Sub-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 Sub-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 Portfolio may lend portfolio securities on a short-term or long-term basis, up to 33 1/3% of its total assets.

 

Pending Merger - On October 22, 2013, a majority of the Portfolio’s Board of Trustees approved a proposal to reorganize the Portfolio into ING Intermediate Bond Portfolio. If shareholder approval is obtained, it is expected that the reorganization will take place on or about March 21, 2014. The Portfolio may engage in transition management techniques prior to the closing of the reorganization during which time the Portfolio may not pursue its investment objective and investment strategies. Shareholders will be notified if the reorganization is not approved.  After the reorganization you will hold shares of ING Intermediate Bond Portfolio. For more information regarding ING Intermediate Bond Portfolio, please contact a Shareholder Services representative or your financial professional.


c.   The section entitled "Principal Risks" of the summary section of the Portfolio's Prospectus is hereby deleted and replaced with the following:

 

PRINCIPAL RISKS

 

You could lose money on an investment in the Portfolio. Any of the following risks, among others, could affect Portfolio performance or cause the Portfolio to lose money or to underperform market averages of other funds.

 

Call During periods of falling interest rates, a bond issuer may "call" or repay its high-yielding bond before the bond's maturity date. If forced to invest the unanticipated proceeds at lower interest rates, the Portfolio would experience a decline in income.

 

Company The price of a given company's stock could decline or underperform for many reasons including, among others, poor management, financial problems, or business challenges. If a company declares bankruptcy or becomes insolvent, its stock could become worthless.

 

Credit Prices of bonds and other debt instruments can fall if the issuer's actual or perceived financial health deteriorates, whether because of broad economic or issuer-specific reasons. In certain cases, the issuer could be late in paying interest or principal, or could fail to pay altogether.

 

Currency To the extent that the Portfolio invests directly in foreign (non-U.S.) currencies or in securities denominated in, or that trade in, foreign (non-U.S.) currencies, it is subject to the risk that those foreign (non-U.S.) currencies will decline in value relative to the U.S. dollar or, in the case of hedging positions, that the U.S. dollar will decline in value relative to the currency being hedged.

 

Derivative Instruments Derivative instruments are subject to a number of risks, including the risk of changes in the market price of the underlying securities, credit risk with respect to the counterparty, risk of loss due to changes in interest rates and liquidity risk. The use of certain derivatives may also have a leveraging effect which may increase the volatility of the Portfolio and reduce its returns. Derivatives may not perform as expected, so the Portfolio may not realize the intended benefits. When used for hedging, the change in value of a derivative may not correlate as expected with the currency, security or other risk being hedged. In addition, given their complexity, derivatives expose the Portfolio to the risk of improper valuation.

 

Foreign Investments/Developing and Emerging Markets Investing in foreign (non-U.S.) securities may result in the Portfolio experiencing more rapid and extreme changes in value than a fund that invests exclusively in securities of U.S. companies due to: smaller markets; differing reporting, accounting, and auditing standards; nationalization, expropriation, or confiscatory taxation; foreign currency fluctuations, currency blockage, or replacement; potential for default on sovereign debt; or political changes or diplomatic developments. Markets and economies throughout the world are becoming increasingly interconnected, and conditions or events in one market, country or region may adversely impact investments or issuers in another market, country or region. Foreign investment risks may be greater in developing and emerging markets than in developed markets.

 

High-Yield Securities Investments rated below investment-grade (or of similar quality if unrated) are known as "high-yield securities" or "junk bonds." High-yield securities are subject to greater levels of credit and liquidity risks. High-yield securities are considered primarily speculative with respect to the issuer's continuing ability to make principal and interest payments.

 

Interest in Loans The value and the income streams of interests in loans (including participation interests in lease financings and assignments in secured variable or floating rate loans) will decline if borrowers delay payments or fail to pay altogether. A large rise in interest rates could increase this risk. Although loans are generally fully collateralized when purchased, the collateral may become illiquid or decline in value. Many loans themselves carry liquidity and valuation risks.

 

Interest Rate With bonds and other fixed rate debt instruments, a rise in interest rates generally causes values to fall; conversely, values generally rise as interest rates fall. The higher the credit quality of the instrument, and the longer its maturity or duration, the more sensitive it is likely to be to interest rate risk. In the case of inverse securities, the interest rate generally will decrease when the market rate of interest to which the inverse security is indexed decreases. As of the date of this Prospectus, interest rates in the United States are at or near historic lows, which may increase the Portfolio's exposure to risks associated with rising interest rates.

 

Investment Model The manager's proprietary model may not adequately allow for existing or unforeseen market factors or the interplay between such factors.

 

Liquidity If a security is illiquid, the Portfolio might be unable to sell the security at a time when the Portfolio's manager might wish to sell, and the security could have the effect of decreasing the overall level of the Portfolio's liquidity. Further, the lack of an established secondary market may make it more difficult to value illiquid securities, which could vary from the amount the Portfolio could realize upon disposition. The Portfolio may make investments that become less liquid in response to market developments or adverse investor perception. The Portfolio could lose money if it cannot sell a security at the time and price that would be most beneficial to the Portfolio.

 

Market Stock prices may be volatile and are affected by the real or perceived impacts of such factors as economic conditions and political events. Stock markets tend to be cyclical, with periods when stock prices generally rise and periods when stock prices generally decline. Any given stock market segment may remain out of favor with investors for a short or long period of time, and stocks as an asset class may underperform bonds or other asset classes during some periods. Additionally, legislative, regulatory or tax policies or developments in these areas may adversely impact the investment techniques available to a manager, add to Portfolio costs and impair the ability of the Portfolio to achieve its investment objectives.

 

Mortgage- and/or Asset-Backed Securities Defaults on or the low credit quality or liquidity of the underlying assets of the asset-backed (including mortgage-backed) securities held by the Portfolio may impair the value of the securities. There may be limitations on the enforceability of any security interest granted with respect to those underlying assets. These securities also present a higher degree of prepayment and extension risk and interest rate risk than do other types of fixed-income securities.

 

Municipal Obligations The municipal market in which the Portfolio invests is volatile and can be significantly affected by adverse tax, legislative, or political changes and the financial condition of the issuers of municipal securities.

 

Other Investment Companies The main risk of investing in other investment companies, including exchange-traded funds, is the risk that the value of the securities underlying an investment company might decrease. Because the Portfolio may invest in other investment companies, you will pay a proportionate share of the expenses of those other investment companies (including management fees, administration fees, and custodial fees) in addition to the expenses of the Portfolio.

 

Prepayment and Extension Prepayment risk is the risk that principal on mortgages or other loan obligations underlying a security may be repaid prior to the stated maturity date, which may reduce the market value of the security and the anticipated yield-to-maturity. Extension risk is the risk that an issuer will exercise its right to repay principal on an obligation held by the Portfolio later than expected, which may decrease the value of the obligation and prevent the Portfolio from investing expected repayment proceeds in securities paying yields higher than the yields paid by the securities that were expected to be repaid.

 

Securities Lending Securities lending involves two primary risks: "investment risk" and "borrower default risk." Investment risk is the risk that the Portfolio will lose money from the investment of the cash collateral received from the borrower. Borrower default risk is the risk that the Portfolio will lose money due to the failure of a borrower to return a borrowed security in a timely manner.

 

U.S. Government Securities and Obligations U.S. government securities are obligations of, or guaranteed by, the U.S. government, its agencies or government-sponsored enterprises. U.S. government securities are subject to market and interest rate risk, and may be subject to varying degrees of credit risk.


An investment in the Portfolio is not a bank deposit and is not insured or guaranteed by the Federal Deposit Insurance Corporation, the Federal Reserve Board or any other government agency.

XML 15 R2.htm IDEA: XBRL DOCUMENT v2.4.0.8

ING INVESTORS TRUST

ING PIMCO Total Return Bond Portfolio

("Portfolio")

 

Supplement dated November 4, 2013

to the Portfolio's Adviser Class ("Class ADV") Prospectus,

Institutional Class ("Class I") Prospectus, Service Class ("Class S") Prospectus

and Service 2 Class ("Class S2") Prospectus,

each dated April 30, 2013; and

 

to the Portfolio's Class ADV Summary Prospectus, Class I Summary Prospectus,

Class S Summary Prospectus and Class S2 Summary Prospectus,

each dated April 30, 2013

 (each a "Prospectus" and collectively "Prospectuses")


Effective on the close of business February 4, 2014, the Portfolio's Prospectuses are hereby revised as follows:

 

a.     All references to "ING PIMCO Total Return Bond Portfolio" are hereby deleted and replaced with "ING Total Return Bond Portfolio."

 

b.     The section entitled "Principal Investment Strategies" of the summary section of the Portfolio's Prospectuses is hereby deleted and replaced with the following:


PRINCIPAL INVESTMENT STRATEGIES

 

Under normal market conditions, the Portfolio invests at least 80% of its net assets (plus borrowings for investment purposes) in a diversified portfolio of debt instruments of varying maturities which may be represented by forwards or derivatives such as options, futures contracts, or swap agreements. The Portfolio will provide shareholders with at least 60 days' prior notice of any change in this investment policy. The types of debt instruments in which the Portfolio may invest, include but are not limited to, corporate, government, and mortgage bonds, which, at the time of purchase, are rated investment-grade (e.g., rated at least BBB- by Standard & Poor's Ratings Services or Baa3 by Moody's Investors Service, Inc.) or have an equivalent rating by a nationally recognized statistical rating organization, or are of comparable quality if unrated.

 

Although the Portfolio may invest a portion of its assets in high-yield (high risk) debt instruments, commonly referred to as "junk bonds," rated below investment-grade, the Portfolio will seek to maintain a minimum average portfolio quality rating of at least investment-grade. Generally, the sub-adviser ("Sub-Adviser") maintains a dollar-weighted average duration between three and ten years. Duration is the most commonly used measure of risk in debt instruments as it incorporates multiple features of the debt instruments (e.g., yield, coupon, maturity, etc.) into one number. Duration is a measure of sensitivity of the price of a debt security 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 debt instrument. Duration is expressed as a number of years. The bigger the duration number, the greater the interest-rate risk or reward for the debt instrument prices. For example, the price of a bond 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 with an average duration of five years would be expected to rise approximately 5% if interest rates drop by one percentage point.

 

The Portfolio may also invest in: preferred stocks; high quality money market instruments; municipal bonds; debt instruments of foreign issuers (including those located in emerging market countries); securities denominated in foreign currencies; foreign currencies; mortgage-backed and asset-backed securities; bank loans and floating rate secured loans ("Senior Loans"); and derivatives including futures, options, and swaps involving securities, securities indices and interest rates, which may be denominated in the U.S. dollar or foreign currencies. The Portfolio 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 Portfolio.

 

The Portfolio may seek to obtain exposure to the securities in which it invests by entering into a series of purchase and sale contracts or through other investment techniques such as buy backs and dollar rolls.

 

The Portfolio may 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 Sub-Adviser believes that relationships between the drivers of debt instrument returns change over time and that recognizing this is key to managing debt instrument assets.


Therefore, the Sub-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 Sub-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 Portfolio may lend portfolio securities on a short-term or long-term basis, up to 33 1/3% of its total assets.

 

Pending Merger - On October 22, 2013, a majority of the Portfolio’s Board of Trustees approved a proposal to reorganize the Portfolio into ING Intermediate Bond Portfolio. If shareholder approval is obtained, it is expected that the reorganization will take place on or about March 21, 2014. The Portfolio may engage in transition management techniques prior to the closing of the reorganization during which time the Portfolio may not pursue its investment objective and investment strategies. Shareholders will be notified if the reorganization is not approved.  After the reorganization you will hold shares of ING Intermediate Bond Portfolio. For more information regarding ING Intermediate Bond Portfolio, please contact a Shareholder Services representative or your financial professional.


c.   The section entitled "Principal Risks" of the summary section of the Portfolio's Prospectus is hereby deleted and replaced with the following:

 

PRINCIPAL RISKS

 

You could lose money on an investment in the Portfolio. Any of the following risks, among others, could affect Portfolio performance or cause the Portfolio to lose money or to underperform market averages of other funds.

 

Call During periods of falling interest rates, a bond issuer may "call" or repay its high-yielding bond before the bond's maturity date. If forced to invest the unanticipated proceeds at lower interest rates, the Portfolio would experience a decline in income.

 

Company The price of a given company's stock could decline or underperform for many reasons including, among others, poor management, financial problems, or business challenges. If a company declares bankruptcy or becomes insolvent, its stock could become worthless.

 

Credit Prices of bonds and other debt instruments can fall if the issuer's actual or perceived financial health deteriorates, whether because of broad economic or issuer-specific reasons. In certain cases, the issuer could be late in paying interest or principal, or could fail to pay altogether.

 

Currency To the extent that the Portfolio invests directly in foreign (non-U.S.) currencies or in securities denominated in, or that trade in, foreign (non-U.S.) currencies, it is subject to the risk that those foreign (non-U.S.) currencies will decline in value relative to the U.S. dollar or, in the case of hedging positions, that the U.S. dollar will decline in value relative to the currency being hedged.

 

Derivative Instruments Derivative instruments are subject to a number of risks, including the risk of changes in the market price of the underlying securities, credit risk with respect to the counterparty, risk of loss due to changes in interest rates and liquidity risk. The use of certain derivatives may also have a leveraging effect which may increase the volatility of the Portfolio and reduce its returns. Derivatives may not perform as expected, so the Portfolio may not realize the intended benefits. When used for hedging, the change in value of a derivative may not correlate as expected with the currency, security or other risk being hedged. In addition, given their complexity, derivatives expose the Portfolio to the risk of improper valuation.

 

Foreign Investments/Developing and Emerging Markets Investing in foreign (non-U.S.) securities may result in the Portfolio experiencing more rapid and extreme changes in value than a fund that invests exclusively in securities of U.S. companies due to: smaller markets; differing reporting, accounting, and auditing standards; nationalization, expropriation, or confiscatory taxation; foreign currency fluctuations, currency blockage, or replacement; potential for default on sovereign debt; or political changes or diplomatic developments. Markets and economies throughout the world are becoming increasingly interconnected, and conditions or events in one market, country or region may adversely impact investments or issuers in another market, country or region. Foreign investment risks may be greater in developing and emerging markets than in developed markets.

 

High-Yield Securities Investments rated below investment-grade (or of similar quality if unrated) are known as "high-yield securities" or "junk bonds." High-yield securities are subject to greater levels of credit and liquidity risks. High-yield securities are considered primarily speculative with respect to the issuer's continuing ability to make principal and interest payments.

 

Interest in Loans The value and the income streams of interests in loans (including participation interests in lease financings and assignments in secured variable or floating rate loans) will decline if borrowers delay payments or fail to pay altogether. A large rise in interest rates could increase this risk. Although loans are generally fully collateralized when purchased, the collateral may become illiquid or decline in value. Many loans themselves carry liquidity and valuation risks.

 

Interest Rate With bonds and other fixed rate debt instruments, a rise in interest rates generally causes values to fall; conversely, values generally rise as interest rates fall. The higher the credit quality of the instrument, and the longer its maturity or duration, the more sensitive it is likely to be to interest rate risk. In the case of inverse securities, the interest rate generally will decrease when the market rate of interest to which the inverse security is indexed decreases. As of the date of this Prospectus, interest rates in the United States are at or near historic lows, which may increase the Portfolio's exposure to risks associated with rising interest rates.

 

Investment Model The manager's proprietary model may not adequately allow for existing or unforeseen market factors or the interplay between such factors.

 

Liquidity If a security is illiquid, the Portfolio might be unable to sell the security at a time when the Portfolio's manager might wish to sell, and the security could have the effect of decreasing the overall level of the Portfolio's liquidity. Further, the lack of an established secondary market may make it more difficult to value illiquid securities, which could vary from the amount the Portfolio could realize upon disposition. The Portfolio may make investments that become less liquid in response to market developments or adverse investor perception. The Portfolio could lose money if it cannot sell a security at the time and price that would be most beneficial to the Portfolio.

 

Market Stock prices may be volatile and are affected by the real or perceived impacts of such factors as economic conditions and political events. Stock markets tend to be cyclical, with periods when stock prices generally rise and periods when stock prices generally decline. Any given stock market segment may remain out of favor with investors for a short or long period of time, and stocks as an asset class may underperform bonds or other asset classes during some periods. Additionally, legislative, regulatory or tax policies or developments in these areas may adversely impact the investment techniques available to a manager, add to Portfolio costs and impair the ability of the Portfolio to achieve its investment objectives.

 

Mortgage- and/or Asset-Backed Securities Defaults on or the low credit quality or liquidity of the underlying assets of the asset-backed (including mortgage-backed) securities held by the Portfolio may impair the value of the securities. There may be limitations on the enforceability of any security interest granted with respect to those underlying assets. These securities also present a higher degree of prepayment and extension risk and interest rate risk than do other types of fixed-income securities.

 

Municipal Obligations The municipal market in which the Portfolio invests is volatile and can be significantly affected by adverse tax, legislative, or political changes and the financial condition of the issuers of municipal securities.

 

Other Investment Companies The main risk of investing in other investment companies, including exchange-traded funds, is the risk that the value of the securities underlying an investment company might decrease. Because the Portfolio may invest in other investment companies, you will pay a proportionate share of the expenses of those other investment companies (including management fees, administration fees, and custodial fees) in addition to the expenses of the Portfolio.

 

Prepayment and Extension Prepayment risk is the risk that principal on mortgages or other loan obligations underlying a security may be repaid prior to the stated maturity date, which may reduce the market value of the security and the anticipated yield-to-maturity. Extension risk is the risk that an issuer will exercise its right to repay principal on an obligation held by the Portfolio later than expected, which may decrease the value of the obligation and prevent the Portfolio from investing expected repayment proceeds in securities paying yields higher than the yields paid by the securities that were expected to be repaid.

 

Securities Lending Securities lending involves two primary risks: "investment risk" and "borrower default risk." Investment risk is the risk that the Portfolio will lose money from the investment of the cash collateral received from the borrower. Borrower default risk is the risk that the Portfolio will lose money due to the failure of a borrower to return a borrowed security in a timely manner.

 

U.S. Government Securities and Obligations U.S. government securities are obligations of, or guaranteed by, the U.S. government, its agencies or government-sponsored enterprises. U.S. government securities are subject to market and interest rate risk, and may be subject to varying degrees of credit risk.


An investment in the Portfolio is not a bank deposit and is not insured or guaranteed by the Federal Deposit Insurance Corporation, the Federal Reserve Board or any other government agency.

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Document Type dei_DocumentType Other
Document Period End Date dei_DocumentPeriodEndDate Dec. 31, 2012
Registrant Name dei_EntityRegistrantName ING INVESTORS TRUST
Central Index Key dei_EntityCentralIndexKey 0000837276
Amendment Flag dei_AmendmentFlag false
Document Creation Date dei_DocumentCreationDate Nov. 04, 2013
Document Effective Date dei_DocumentEffectiveDate Nov. 04, 2013
Prospectus Date rr_ProspectusDate Apr. 30, 2013
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