Amended Schedule A dated June 1, 2008 to the Sub-Advisory Agreement

EX-99.(D)(5)(V) 8 dex99d5v.htm AMENDED SCHEDULE A DATED JUNE 1, 2008 TO THE SUB-ADVISORY AGREEMENT Amended Schedule A dated June 1, 2008 to the Sub-Advisory Agreement


		(d)(5)(v)

June 1, 2008

David Makowicz

Chief Operating Officer

ING Clarion Real Estate Securities

259 North Radnor-Chester Road

Suite 205

Radnor, PA 19087

Dear Mr. Makowicz:

Pursuant to the Sub-Advisory Agreement dated September 23, 2002 between ING Investments, LLC and ING Clarion Real Estate Securities L.P., as amended, (the “Agreement”), we hereby notify you of our intention to modify the annual sub-adviser fee for ING Global Real Estate Fund (the “Fund”), effective June 1, 2008, upon all of the terms and conditions set forth in the Agreement. Upon your acceptance, the Agreement will be modified to give effect to the foregoing by amending Amended Schedule A of the Agreement. The Amended Schedule A, with the annual sub-adviser fee indicated for the Fund, is attached hereto.

Please signify your acceptance to the modified sub-adviser fee with respect to the Fund by signing below where indicated.

Very sincerely,

/s/ Todd Modic

Todd Modic

Senior Vice President

ING Investments, LLC

ACCEPTED AND AGREED TO:

ING Clarion Real Estate Securities L.P.


By:		/s/ T. Ritson Ferguson
Name:		T. Ritson Ferguson
Title:		Managing Director, CIO, Duly Authorized

7337 E. Doubletree Ranch Rd.

Scottsdale, AZ 85258-2034

Tel: 480-477-3000

Fax: 480-477-2744

www.ingfunds.com

ING Investments, LLC

AMENDED SCHEDULE A

with respect to the

SUB-ADVISORY AGREEMENT

between

ING INVESTMENTS, LLC

and

ING CLARION REAL ESTATE SECURITIES L.P.


Series		Annual Sub-Adviser Fee
		(as a percentage of average daily net assets)

ING Asia-Pacific Real Estate Fund¹		0.50% on the first $250 million of assets 0.45% on the next $250 million of assets 0.40% thereafter

ING European Real Estate Fund¹		0.50% on the first $250 million of assets 0.45% on the next $250 million of assets 0.40% thereafter

ING Global Real Estate Fund		0.400% on the first $200 million of assets; 0.350% on the next $550 million of assets; and 0.300% on assets in excess of $750 million

ING International Real Estate Fund		0.50% on the first $250 million of assets 0.45% on the next $250 million of assets 0.40% thereafter

¹	Amended effective October 15, 2007 to add ING Asia-Pacific Real Estate Fund and ING European Real Estate Fund as Series subject to the Agreement.