(d)(20)

March 1, 2009

ING Mutual Funds

7337 East Doubletree Ranch Road

Scottsdale, AZ 85258-2034

Re: Expense Limitations

Ladies and Gentlemen:

By execution of this letter agreement (the “Agreement”), intending to be legally bound hereby, ING Investments, LLC (“ING Investments”), the Adviser to ING Greater China Fund (the “Fund”), agrees that ING Investments shall, from March 1, 2009 through and including March 1, 2010, waive all or a portion of its investment management fee and/or reimburse expenses in amounts necessary so that after such waivers and/or reimbursements, the maximum total operating expense ratios of the Fund shall be all follows:

Name of Fund	Maximum Operating Expense Limit (as a percentage of average net assets)
	Classes
	A		B		C		I
ING Greater China Fund	2.10	%	2.85	%	2.85	%	1.85	%

ING Investments acknowledges that any fees waived or expenses reimbursed during the term of this Agreement shall not be eligible for recoupment at any time in the future.

Sincerely,

/s/ Todd Modic

Todd Modic

Senior Vice President

7337 East Doubletree Ranch Road	Tel: 480.477.3000	ING Investments, LLC
Scottsdale, AZ 85258-2034	Fax: 480.477.2700
	www.ingfunds.com