ing funds fact sheets@march 2010

36
Monthly Fact Sheet ING FUNDS REVIEW OF THE LOCAL MARKET Equity The domestic equity market ignored widespread losses in other regions and ended the month on higher note (+0.9%), as range- bound trade continued. Growth stocks continue to lead value stocks across all market capitalization (small-, mid- and large-). This growth ‘bias’ was largely driven by strong performance from financials and telecommunication sectors, both which are weighted heavily in the index. Smaller companies, which outper- formed significantly initially were not able to keep up the strong pace in the end of the month and underperformed both large and mid-cap stocks. On sector basis, ten out of 10 sectors registered a positive re- turn, with Telecommunication (+6.2%), Consumer Staples (+2.4%) and Financials (+1.1%), generated strong gains while Consumer Discretionary (-4.8%), Utilities (-0.7%) and Industrials (-0.7%) were the sectors posted negative return. All in all, stocks advanced in February, with the FBM KLCI Index gained 0.9% or 11.6 points to close at 1,270.8 points. The FTSE Bursa Malaysia EMAS Index inched up 76.2 points or 0.8% to 8,559 while the FTSE Malaysia Small Cap Index rose 42.4 points or 0.5% to 10,649. The average value traded on Bursa in February eased 27% mom to RM1.245 billion (RM1.7 billion in January) per day due to shorter trading days. Among the more notable events in February were: 1) Eastern & Oriental has sold 50% of the 298 units made available for sale from the first block of its RM1.8 billion Quayside seafront luxury condos that was officially launched last Saturday. 2) CIMB Bank expects a 22% growth or an additional RM8bn in retail deposits by year-end, supported by continuous pro- motion campaigns and new product launches. 3) IJM Corp Bhd announced that the government agreed that the company will bear the RM649m cost to extend Besraya Highway by 12.3km in return for an extra eight years in con- cession period. 4) The volume of corporate bond issuances in Malaysia is expected to reach between RM45 billion to RM50 billion in 2010, says Malaysian Rating Corporation (MARC). 5) PT Bank CIMB Niaga (CIMB Niaga) has posted a 131% jump in its net profit for FY12/09 to 1.6tr rupiah (RM580.7m) from 678.2bn rupiah (RM246.1m) in the previous corre- sponding period. Equity Market Outlook Global equity market recovered convincingly after a sharp pull- back in February which was mainly triggered by worries over monetary tightening in China and fears of a fiscal crisis in pe- ripheral Europe (Greece, Portugal, Spain and Ireland). Fundamentally, an early cycle tightening in China and other parts of Asia to pre-empt a property bubble will not derail the current structural growth story in Asia as argued previously. Meanwhile, the fiscal crisis is confined within the over-leveraged peripheral Europe, which account for only 14% of the EU’s GDP. Hence, the 10-year government bond yield for peripheral Europe surged by more than 500bps over the last one month while bond yield in Germany, UK and US declined slightly over the same period. This is because the fiscal position for countries like Ger- many are in good shape where it has the lowest debt-to-GDP ratio among the developed economies while house prices are relatively undervalued and it can still afford to pump-prime its economy. One of the unprecedented event in the month of February was the Fed raised its discount rate, making investors wondering whether the Fed Funds rate will be next. According to empirical evidence, the Fed will not raise its Fed Funds rate when unem- ployment rate is above 7.7%, capacity utilization rate is below 80% and the output gap is larger than -3.5%. Currently, these 3 measures stood at 10%, 72% and -6.1% respectively. Hence, there is strong reason to believe the Fed will continue to focus on growth at current economic cycle to avoid making a policy mistake by exiting the present loose monetary strategy too early. With that, we are seeing market volatility (which is measured by the VIX Index) falling back to December 2009 levels where in- vestor’s appetite for risk taking is big, implying increasing market optimism. In Malaysia, 4Q09 GDP growth of +4.5% y-o-y was ahead of consensus estimates of +3.2%, prompting a string of upgrades for its 2010 growth estimates. While we believe the official esti- mates of +5.0% GDP growth for 2010 is realistic (due to strong consumer confidence, higher government spending and con- sumption, improving labour market conditions, and rising ex- ports), the government has been more optimistic by setting a higher internal growth target of 6.0% lately, making Malaysia to be one of the strongest growth economies in Asia for 2010 after China (+10.0%), India (8.0%) and Indonesia (+7.0%). A strong economic growth momentum is positive for corporate earnings outlook, and hence, supportive to a more sustainable rally in the equity market even though valuations are no longer cheap. Overall, our view remains that the rally in global equity market still have further legs, underpinned by strong global growth mo- mentum and capital flows. We believe our FBM KLCI Index target of 1380 by end-2010 (based on our projected corporate earnings growth of +19% and target PE of 15x for 2010) is achievable. Hence, we remain highly invested in equities for now. The key risks to our strategy are deteriorating global growth momentum and policy mistakes make by authorities, which we are monitoring these closely. March 2010 Issue (period under review February 2010) Equity Market Strategy As the recent corporate earning released continues to show improvement, the portfolio will remain invested. We overweight construction, telecommunication, technology and financials. Fund Fact Sheet Mar 2010 Issue

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Page 1: ING Funds Fact Sheets@March 2010

Monthly Fact Sheet

ING FUNDS

REVIEW OF THE LOCAL MARKET Equity The domestic equity market ignored widespread losses in other regions and ended the month on higher note (+0.9%), as range-bound trade continued. Growth stocks continue to lead value stocks across all market capitalization (small-, mid- and large-). This growth ‘bias’ was largely driven by strong performance from financials and telecommunication sectors, both which are weighted heavily in the index. Smaller companies, which outper-formed significantly initially were not able to keep up the strong pace in the end of the month and underperformed both large and mid-cap stocks. On sector basis, ten out of 10 sectors registered a positive re-turn, with Telecommunication (+6.2%), Consumer Staples (+2.4%) and Financials (+1.1%), generated strong gains while Consumer Discretionary (-4.8%), Utilities (-0.7%) and Industrials (-0.7%) were the sectors posted negative return. All in all, stocks advanced in February, with the FBM KLCI Index gained 0.9% or 11.6 points to close at 1,270.8 points. The FTSE Bursa Malaysia EMAS Index inched up 76.2 points or 0.8% to 8,559 while the FTSE Malaysia Small Cap Index rose 42.4 points or 0.5% to 10,649. The average value traded on Bursa in February eased 27% mom to RM1.245 billion (RM1.7 billion in January) per day due to shorter trading days. Among the more notable events in February were: 1) Eastern & Oriental has sold 50% of the 298 units made

available for sale from the first block of its RM1.8 billion Quayside seafront luxury condos that was officially launched last Saturday.

2) CIMB Bank expects a 22% growth or an additional RM8bn in retail deposits by year-end, supported by continuous pro-motion campaigns and new product launches.

3) IJM Corp Bhd announced that the government agreed that the company will bear the RM649m cost to extend Besraya Highway by 12.3km in return for an extra eight years in con-cession period.

4) The volume of corporate bond issuances in Malaysia is expected to reach between RM45 billion to RM50 billion in 2010, says Malaysian Rating Corporation (MARC).

5) PT Bank CIMB Niaga (CIMB Niaga) has posted a 131% jump in its net profit for FY12/09 to 1.6tr rupiah (RM580.7m) from 678.2bn rupiah (RM246.1m) in the previous corre-sponding period.

Equity Market Outlook Global equity market recovered convincingly after a sharp pull-back in February which was mainly triggered by worries over monetary tightening in China and fears of a fiscal crisis in pe-ripheral Europe (Greece, Portugal, Spain and Ireland). Fundamentally, an early cycle tightening in China and other parts of Asia to pre-empt a property bubble will not derail the current structural growth story in Asia as argued previously. Meanwhile, the fiscal crisis is confined within the over-leveraged peripheral Europe, which account for only 14% of the EU’s GDP. Hence, the 10-year government bond yield for peripheral Europe surged by more than 500bps over the last one month while bond yield in Germany, UK and US declined slightly over the same period. This is because the fiscal position for countries like Ger-many are in good shape where it has the lowest debt-to-GDP ratio among the developed economies while house prices are relatively undervalued and it can still afford to pump-prime its economy. One of the unprecedented event in the month of February was the Fed raised its discount rate, making investors wondering whether the Fed Funds rate will be next. According to empirical evidence, the Fed will not raise its Fed Funds rate when unem-ployment rate is above 7.7%, capacity utilization rate is below 80% and the output gap is larger than -3.5%. Currently, these 3 measures stood at 10%, 72% and -6.1% respectively. Hence, there is strong reason to believe the Fed will continue to focus on growth at current economic cycle to avoid making a policy mistake by exiting the present loose monetary strategy too early. With that, we are seeing market volatility (which is measured by the VIX Index) falling back to December 2009 levels where in-vestor’s appetite for risk taking is big, implying increasing market optimism. In Malaysia, 4Q09 GDP growth of +4.5% y-o-y was ahead of consensus estimates of +3.2%, prompting a string of upgrades for its 2010 growth estimates. While we believe the official esti-mates of +5.0% GDP growth for 2010 is realistic (due to strong consumer confidence, higher government spending and con-sumption, improving labour market conditions, and rising ex-ports), the government has been more optimistic by setting a higher internal growth target of 6.0% lately, making Malaysia to be one of the strongest growth economies in Asia for 2010 after China (+10.0%), India (8.0%) and Indonesia (+7.0%). A strong economic growth momentum is positive for corporate earnings outlook, and hence, supportive to a more sustainable rally in the equity market even though valuations are no longer cheap. Overall, our view remains that the rally in global equity market still have further legs, underpinned by strong global growth mo-mentum and capital flows. We believe our FBM KLCI Index target of 1380 by end-2010 (based on our projected corporate earnings growth of +19% and target PE of 15x for 2010) is achievable. Hence, we remain highly invested in equities for now. The key risks to our strategy are deteriorating global growth momentum and policy mistakes make by authorities, which we are monitoring these closely.

March 2010 Issue (period under review February 2010)

Equity Market Strategy As the recent corporate earning released continues to show improvement, the portfolio will remain invested. We overweight construction, telecommunication, technology and financials.

Fund Fact Sheet Mar 2010 Issue

Page 2: ING Funds Fact Sheets@March 2010

LOCAL MARKET KEY DRIVERS

Key Drivers Key Risks Risk Ratings

Local Economy Strong consumer confidence, higher government spending and consumption, improving labour mar-ket conditions, and rising exports.

Policy mistake made by authorities.

High

Equity Concrete corporate earnings upgrade. Deteriorating global growth momentum. High

Bonds Pent-up demand for corporate bonds on yield en-hancement requirement

Increasing risk appetite for credits on sustainable economy recovery

Healthy liquidity in the system

Aggressive tightening of interest rate by the central bank.

Renewed inflationary pressure in tandem with price adjustments and economy recovery

Low Medium

Money Market Continual strong demand for short-duration instru-

ments for yield enhancement

Ample liquidity in banking system, resulting in continual low Money Market rates despite in-creasing benchmark rates.

Medium

Fund Fact Sheet Mar 2010 Issue

REVIEW OF THE LOCAL MARKET (cont.) Fixed Income

For the month of February, the Malaysian Government Securi-ties (MGS) market was flattish due to lack of economic catalysts and Chinese New Year holidays. The 3-year MGS benchmark remained at 3.34% and 10-year MGS benchmark closed 1 basis point (bps) lower at 4.26%. However, the 5-year MGS bench-mark climbed 7bps to 3.82%, as investors geared up for the new 5.5 year MGS auction. Of note, the new 5.5-year MGS benchmark auction fetched a healthy 1.99x bid to cover ratio with an average yield of 3.835%.

Meanwhile, Malaysia’s Gross Domestic Product (GDP) re-bounded in 4Q09, at 4.5% year-on-year (YoY), from -1.2% in 3Q09, due to turnaround in exports which rose 7.3% YoY in 4Q09 (3Q09: - 13.4%), as well as improvements in consumer spending and private investment, helped by Government’s stimulus spending. Consumer Price Index (CPI) rose for the second month by 1.3% YoY in Jan-10, from +1.1% in Dec-09 due to the higher base effect wearing off, as well as higher food prices and core inflation.

For private debt securities market, investors’ risk appetite con-tinued to improve as trading was concentrated on non-Government-related enterprises (GREs) and non-cyclical sec-tors like independent power producers (IPPs), banks, and toll roads. Trading activities continued to be dominated by “AAA” and “AA” segments.

Fixed Income Outlook

At the Monetary Policy Committee (MPC) meeting on 4 March 2010, Bank Negara Malaysia (BNM) increased the Overnight Policy Rate (OPR) by 25 basis points (bps) to 2.25%, as hinted earlier by BNM Governor to begin “normalising” interest rates in a gradual and measured way after maintaining OPR at a historic low of 2.00% since April 2009. Amidst ongoing guesses of the quantum of BNM’s interest rate hike for the year, long-end MGS is expected to be sup-ported on the back of the prevailing demand-supply dynamics, be-nign inflation outlook as well as healthy liquidity in the market. On this backdrop, MGS yield curve may continue to flatten in 1H of the year as further rate hike expectations will continue to put pressure on the front-end of the curve.

In medium term horizon however, policy adjustments on food sub-sidy, alongside with economy recovery may renew inflationary pres-sure. Speculation and timing of central banks around the globe unwinding the economy stimulus packages and exit strategies of the expansionary measures will continue to determine direction of the market.

For local corporate bond market, pent-up demand and ample liquid-ity in the market is likely to continue to lend support to credit mar-ket, further narrowing the credit spreads, despite imminent interest rate risks. With risk appetites continue to gain momentum, more issuers are expected to come back to the corporate bond market ahead of the full cycle of rate normalization. Given the significant demand for yield, issuance for corporate bonds is expected to be well received. While high-grade corporate bonds will continue to be the main interest, market is now more receptive of credit risks in search for value, alongside with economy recovery.

Fixed Income Strategy

Accumulate selective “AA” and “A”-rated bonds.

KEY MARKET INDICATORS

Level as at 26/2/2010 Level as at 29/1/2010 MoM Change Level as at 31/12/2009 YTD Change

KLCI 1,270.78 1,259.16 11.62 1,272.78 -2.00

FBM 100 8,327.57 8,249.32 78.25 8,308.89 18.68

FBMEMAS Shariah 8,640.35 8,476.10 164.25 8,509.52 130.83

FBMEMAS 8,560.20 8,484.00 76.2 8,507.61 52.59

Nikkei 10,126.03 10,198.04 -72.01 10,546.44 -420.41

Hang Seng 20,608.70 20,121.99 486.71 21,872.50 -1263.8

Xinhua China 25 17,458.53 17,166.25 292.28 18,905.42 -1446.89

MSCI China 10/40 TR 454.66 445.35 9.309 486.904 -32.241

Taiwan 7,436.10 7,640.44 -204.34 8,188.11 -752.01

Kospi 200 208.36 210.34 -1.98 221.86 -13.50

ASX 4,637.70 4,569.60 68.1 4870.6 -232.90

EURO STOXX 50 2,728.47 2,776.83 -48.36 2,964.96 -236.49

US S&P 500 1,104.49 1,073.87 30.62 1,115.10 -10.61

Page 3: ING Funds Fact Sheets@March 2010

FUNDS SUMMARY (AS AT 26 FEBRUARY 2010)

ING ONEANSWERTM INVESTMENT FUNDS

ING Cash Plus

ING i-Enhanced

Cash

ING Princi-pal Pro-

tected In-come

ING Income Plus

ING Bon Islam

ING Managed Growth

ING Diver-sified

ING Shariah Balanced

ING Blue Chip

ING Tacti-cal

ING Growth

Opportuni-ties

ING Ekuiti Islam

NAV as at 28 Feb 2010 0.5882 0.6304 0.6194 0.5448 0.5918 0.4787 0.4802 0.4997 0.4534 0.9954 1.0453 1.0000

Highest NAV* 0.5883 0.6314 0.6955 0.6709 0.6892 0.7839 0.6799 0.7475 0.8549 0.9974 1.0490 1.0000

Lowest NAV* 0.4903 0.4893 0.4677 0.4553 0.4610 0.3573 0.3602 0.3794 0.3492 0.9876 1.0000 1.0000

Actual allocation (%)

Equity - - 54.7 56.1 40.7 90.8 87.7 84.9 85.8 - - -

Cash/fixed income instruments & others 100 100 45.3 43.9 59.3 9.2 12.3 15.1 14.2 100 100 100

Fund return (%)

1 month Fund 0.15 -0.02 0.21 -0.15 0.32 0.13 0.04 0.04 1.21 0.14 0.11 0.07

Benchmark 0.08 0.08 0.51 0.60 1.05 0.92 0.92 0.90 1.94 0.15 0.16 0.12

6 months Fund 2.04 1.20 5.06 4.06 2.42 7.03 6.99 7.55 5.04 1.09 0.84 0.62

Benchmark 1.25 1.25 4.64 4.97 3.59 8.22 8.22 8.03 5.39 0.98 1.03 0.74

1 year Fund 3.17 3.11 14.52 14.29 9.86 27.10 26.42 26.97 24.70 2.44 1.74 1.33

Benchmark 1.82 1.82 21.96 24.48 21.17 42.68 42.68 46.40 41.96 2.01 2.14 1.51

3 years Fund 6.93 8.75 9.70 -7.81 2.15 13.56 -6.54 -19.75 8.25 8.87 - -

Benchmark 11.49 11.49 10.48 9.47 14.31 6.21 6.21 7.67 8.14 8.27 - -

5 years Fund 20.43 22.29 33.70 11.68 20.50 51.6 1.93 0.32 48.94 - - -

Benchmark 23.32 23.32 33.23 31.50 36.63 40.05 40.05 39.15 40.36 - - -

* Since inception. Funds under ING OneAnswerTM = 23 April 2004, ING Cash Plus = 26 October 2006, ING i-Enhanced Cash = 2 August 2007, ING Principal Protected Income = 12 May 2008 Fund return source: Lipper Hindsight 5.43 on 8/3/2010. Benchmark: ING Cash Plus = Maybank 1-month FD rate, ING i-Enhanced Cash = Maybank 1-month General Investment Account (GIA) rate, ING Income Plus & ING Bon Islam = All MGS Index, Managed Growth = FTSE Bursa Malaysia Top 100 Index (50%) & All MGS Index (50%), ING Diversified = FTSE Bursa Malaysia Top 00 Index (55%) & Maybank 12-month FD Rate (45%), ING Shariah Balanced = FTSE Bursa Malaysia Shariah Emas Index (50%) & Government Investment Issue (3-7 years) (50%), ING Blue Chip, ING Tactical & ING Growth Opportunities = FTSE Bursa Malaysia Top 100 Index, ING Ekuiti Islam = FTSE Bursa Malaysia Emas Shariah Index

This monthly factsheet is prepared by ING Funds Berhad. It is not intended to be an offer or invitation to subscribe or purchase of units. The information contained herein is derived from sources believed to be reliable. ING Funds Berhad makes no representation as to its accuracy or completeness and expressly disclaims any liability whatsoever for any loss arising from or in reliance upon whole or any part of this document. It should not be construed as an offer or a solicitation of an offer to purchase or subscribe or to sell units. Please read and understand the ING OneAnswerTM Master Pro-spectus incorporating ING i -Enhanced Cash and ING Cash Plus dated 23 April 2009, ING OneAnswerTM Supplementary Master Prospectus dated 16 October 2009 and ING Principal Protected Income Information Memorandum dated 12 May 2009. The Master Prospectus, Supplementary Master Prospectus and Information Memorandum have been registered / deposited with the Securities Commission, who takes no responsibility for its contents. A copy of the Master / Supplementary Master Prospectus and Information Memorandum can be obtained at our office or any of our authorized distributors listed under the corporate directory in the Master / Supplementary Master Prospectus and Information Memorandum. Investment involves risk including a possible loss to the principal amount invested. Please refer to the Master / Supplementary Master Prospectuses and Information Memorandum for principal risks of investing in the respective funds. Before investing you should consider the fees and charges involved. The price of units and distribution payable, if any, may go down as well as up. The past performance of the Fund should not be taken as indicative of its future performance. Units will only be issued upon receipt of an application form referred to in and accompanying the Supplementary Master Prospectus or Information Memorandum. ING Principal Protected Income is a wholesale fund which is open to qualified investors only. ‘Qualified investors’ has the same meaning as is assigned to that expression in the ING Principal Protected Income Information Memorandum and in the Guidelines on Wholesale Funds issued by the Securities Commission. If you are in doubt when considering the investment or the information provided, you are advised to consult a professional adviser.

Fund Fact Sheet Mar 2010 Issue I Pg 3

Page 4: ING Funds Fact Sheets@March 2010

FUNDS SUMMARY (AS AT 26 FEBRUARY 2010)

ING Baraka Capital Pro-

tected

ING Baraka Capital

Protected II

ING Baraka Commodities

Capital Protected

ING Annual Alpha Access

Capital Protected

ING Annual Income Climate

Structured

ING Struc-tured Income

Fund

ING Global Emerging

Markets Debt

ING Global Real Estate

ING Global Dividend

ING China Access

NAV as at 28 Feb 2010 0.9920 0.9916 0.9815 0.9673 1.1884 0.9875 0.5067 0.3013 0.3165 0.4878

Highest NAV* 0.9920 0.9918 1.0011 0.9862 1.2782 1.0011 0.5167 0.5644 0.4853 0.5603

Lowest NAV* 0.9307 0.9290 0.9477 0.9272 0.9100 0.9866 0.4398 0.1797 0.2145 0.2672

Actual allocation (%)

Equity - - - - - - - - - -

Cash/fixed income instruments & others

100 100 100 100 100 100 100 100 100 100

Fund return (%)

1 month Fund 0.07 0.03 -0.09 -0.03 0.66 -0.09 -0.71 1.13 0.51 0.96

Benchmark 0.20 0.20 0.20 0.19 0.20 0.19 -0.14 2.15 1.07 1.94

6 months Fund 0.66 0.68 0.15 0.10 5.08 - -1.29 -0.42 1.31 -1.62

Benchmark 1.27 1.27 1.27 1.23 1.27 - -0.92 1.64 0.96 4.13

1 year Fund 1.65 1.34 -0.11 -0.17 27.76 - 9.46 55.28 35.53 51.31

Benchmark 2.61 2.61 2.61 2.49 2.61 - 10.47 61.79 38.64 63.49

3 years Fund - - - - - - - -37.96 - -

Benchmark - - - - - - - -47.33 - -

5 years Fund - - - - - - - - - -

Benchmark - - - - - - - - - -

* Since inception. ING Baraka Capital Protected = 9 May 2007, ING Baraka Capital Protected II = 30 July 2007, ING Baraka Commodities Capital Protected = 2 October 2007, ING Annual Alpha Access Capital Pro-tected = 8 April 2008, ING Annual Income Climate Structured = 10 September 2008, ING Global Emerging Markets Debt = 22 July 2008, ING Global Real Estate = 18 July 2006, ING Global Dividend = 19 March 2007, ING China Access = 11 January 2008, ING Structured Income Fund = 28 October 2009. Fund return source: Lipper Hindsight 5.43 on 8/3/2010. Benchmark: ING Baraka Capital Protected, ING Baraka Capital Protected II, ING Baraka Commodities Capital Protected, ING Annual Income Climate Structured Fund = Maybank 12-month General Investment Account (GIA) rate, ING Annual Alpha Access Capital Protected , ING Structured Income Fund = Maybank 12-month FD rate, ING Global Emerging Markets Debt = JP Morgan Emerging Local Market Index (ELMI), ING Global Real Es-tate = Standard & Poor (S&P) Developed Property Index, ING Global Dividend = MSCI World Index, ING China Access = MSCI China 10/40 Index.

This monthly factsheet is prepared by ING Funds Berhad. It is not intended to be an offer or invitation to subscribe or purchase of units. The information contained herein is derived from sources believed to be reliable. ING Funds Berhad makes no representation as to its accuracy or completeness and expressly disclaims any liability whatsoever for any loss arising from or in reliance upon whole or any part of this document. It should not be construed as an offer or a solicitation of an offer to purchase or subscribe or to sell units. Please read and understand the ING Master Prospectus incorpo-rating ING Global Real Estate, ING Global Dividend, ING China Access & ING Global Emerging Markets Debt dated 18 July 2009, ING Baraka Capital Protected Prospectus dated 9 May 2007, ING Baraka Capital Protected II Pro-spectus dated 30 July 2007, ING Baraka Commodities Capital Protected Prospectus dated 2 October 2007, ING Annual Alpha Access Capital Protected Prospectus dated 8 April 2008, ING Annual Income Climate Structured Fund Prospectus dated 10 September 2008 and ING Structured Income Fund dated 28 October 2009. The Master Prospectus and Prospectus have been registered / deposited with the Securities Commission, who takes no responsibility for its contents. A copy of the Master Prospectus and Prospectus can be obtained at our office or any of our authorized distributors listed under the corporate directory in the Master Prospectus and Prospectus. Investment involves risk including a possible loss to the principal amount invested. Please refer to the Master Prospectuses and Prospectus for principal risks of investing in the respective funds. Before investing you should consider the fees and charges involved. The price of units and distribution payable, if any, may go down as well as up. The past performance of the Fund should not be taken as indicative of its future performance. Units will only be issued upon receipt of an application form referred to in and accompanying the Master Prospectus or Prospectus. No units are available for subscription for ING Baraka Capital Protected, ING Baraka Capital Protected II, ING Annual Alpha Access Capital Protected, ING Annual Climate Income Structured Fund and ING Structured Income Fund because their Offer Periods have ended. If you are in doubt when considering the investment or the information provided, you are advised to consult a professional adviser.

Fund Fact Sheet Mar 2010 Issue I Pg 4

Page 5: ING Funds Fact Sheets@March 2010

ING FUNDS MAR 2010

ING BARAKA CAPITAL PROTECTED

To give you 100% capital protection and exposure to key global Islamic equity markets. At the end of the Fund’s maturity period, the Fund will return unit holders’ initial capital plus returns from the offshore investments, if any.

FUND DETAILS

SECTOR ALLOCATION* (as at 25 Feb 2010)

* As percentage of NAV. Asset exposure for the fund is subject to frequent change on a daily basis

PERFORMANCE RECORD Percentage growth of investment made on 9 May 07 at 26 Feb 2010 with dividend reinvested, NAV-NAV basis.

Source: Lipper Hindsight 5.43 on 8/3/10 The value of units may go down as well as up. Past performance is not indicative of future results.

PERFORMANCE TABLE (%) (as at 26 Feb 2010)

1-mth 6-mth Since Launch

Fund 0.07 0.66 0.76

Benchmark* 0.20 1.27 8.69

1-yr

1.65

2.61

THE FUND IS SUITABLE FOR INVESTORS WHO: Are seeking to preserve the value of their capital.

Want to participate and benefit from the potential upside of foreign Shariah-compliant equity markets.

Wish to diversify their investment locally and abroad.

Have low to moderate risk tolerance.

* Maybank 12-month GIA rate . Source: Lipper Hindsight 5.43 on 8/3/10

1

2

1 Islamic Negotiable Instru-ments

99.9%

2 FD/Cash 0.1%

Unit NAV (25 Feb 2010) RM 0.9920

Fund Size (25 Feb 2010) RM 400.323 mil

Fund Currency Ringgit Malaysia

Fund Launch 9 May 2007

Annual Management Fee 1.00% of NAV of the Fund

Trustee Fee 0.08% of NAV of the Fund or a minimum of RM18,000 p.a.

Exit Fee Before 18th month from the commence-ment date: 2.50% On or after 18th month from the com-mencement date: 1.50% On maturity date: Nil

Maximum Initial Charge 1.5% of NAV per unit

Redemption Payment Period Up to 10 days

Investment Manager ING Funds Berhad

Fund Commencement 3 July 2007

Highest NAV (Since Inception) RM 0.9920

Lowest NAV (Since Inception) RM 0.9307

Maturity Payment Period 2 months from Maturity Date

This monthly factsheet is prepared by ING Funds Berhad. It is not intended to be an offer or invitation to subscribe or purchase of units. The information contained herein has been obtained from sources believed in good faith to be reliable, however, no guarantee is given in its accuracy or completeness. ING Funds Berhad makes no representation as to its accuracy or completeness and expressly disclaims any liability whatsoever for any loss arising from or in reliance upon whole or any part of this document. Expressions of opinion contained in this document are those of ING Funds and its investment managers and the information contained herein is current as at the date of publication. It should not be construed as an offer or a solicitation of an offer to purchase or subscribe or to sell units. Past performance of funds is not indicative of its future performance. The price of units and distribution payable, if any, may go down as well as up. ING Baraka Capital Protected is a capital protected fund. No units are available for subscription because the offer period for ING Baraka Capital Protected fund was 9 May 2007 – 22 June 2007. The Maturity Date of the Fund is on the 3rd Anniver-sary of the Fund which is expected to be 7 July 2010. The capital protection only applies to unit holders who hold their investment until maturity date. Any redemption before the maturity date would be based on the NAV of the fund on that day and would be charged an exit fee. To achieve its capital protection objective, the Fund invests in Ringgit denomi-nated Islamic Negotiable Instruments. Due to this, there may be dilution of performance due to the capital protection structure being in place compared to a conventional fund without capital protection. This fund is not guaranteed and is subject to risks. Principal risks of the Fund are early termination risk, currency risk, country risk, interest rate risk, concentration risk, credit risk, market risk and liquidity risk. The ING Baraka Capital Protected Prospectus dated 9 May 2007 has been registered with Securities Commission, who takes no responsibility for its contents. A copy of the Prospectuses can be obtained from ING Funds offices or any of our authorized distributors as listed under the Corporate Directory in the Prospectus. Investors are advised to read the Prospectus for further details of the capital protection structure. If investors are in doubt about the information provided, investors should seek professional advice.

Fund Fact Sheet Mar 2010 Issue I Pg 5

Total Return From 09/05/2007 To 26/02/2010

Per

cen

tag

e G

row

th

-7.5

-5.0

-2.5

0.0

2.5

5.0

7.5

10.0

07/07 01/08 07/08 01/09 07/09

ING Baraka Capital Protected = 0.8%

Maybank 12 Months GIA-i Tier I Rate = 8.7%

Total Return From 09/05/2007 To 26/02/2010

Per

cen

tag

e G

row

th

-7.5

-5.0

-2.5

0.0

2.5

5.0

7.5

10.0

07/07 01/08 07/08 01/09 07/09

ING Baraka Capital Protected = 0.8%

Maybank 12 Months GIA-i Tier I Rate = 8.7%

MANAGER’S COMMENTS (Review Period: Feb 2010) The Fund registered a return of 0.07% for the month of February 2010, underperforming its benchmark which returned 0.20%. The underperfor-mance is mainly due to the Fund effectively holding only fixed income instruments as its options currently do not provide any contribution to its returns. The Fund continues to deliver capital preservation.

Page 6: ING Funds Fact Sheets@March 2010

ING FUNDS MAR 2010

ING BARAKA CAPITAL PROTECTED REVIEW OF SGAM AI BARAKA INDEX (Review Period: Feb 2010)

TOP 10 HOLDINGS (as at 26 Feb 2010) Company % Novartis AG 3.77

Cardinal Health Inc 3.65

SGS S.A. 3.56

Procter & Gamble Co. 3.56

NTT DoCoMo Inc 3.51

China Mobile Ltd 3.50

M. Ericcsson Telephone Co. Series 3.48

MTN Group Ltd 3.48

AGL Energy Ltd 3.45

Roche Holding AG Part. Cert 3.42

SECTOR ALLOCATION (as at 26 Feb 2010)

6.67%

6.67%

10.00%

10.00%

10.00%

13.33%

20.00%

23.33%

Utilit ies

Basic M aterials

Industrials

Technology

Consumer Goods

Telecoms

Consumer Services

Healthcare

GEOGRAPHICAL ALLOCATION (as at 26 Feb 2010)

3.33%

3.33%

3.33%

3.33%

6.67%

10.00%

10.00%

13.33%

16.67%

30.00%

Canada

France

South Africa

Sweden

Australia

Hong Kong

Switzerland

United Kingdom

Japan

United States

Source: Commentary and information on SGAM AI Baraka Index provided by Societe Generale Asset Management (SGAM)

The SGAM AI Baraka Index returned 0.24% in February, gaining over 30% since last year. In Europe, the Greek government is trying hard to convince the mar-kets but, equally important its EU compatriots, that it is serious in its intentions to tackle its fiscal problems. The reaction of the markets, as expressed in the CDS spreads, remains one of skepticism. What is more, this fever is dragging down the debt of other countries per-ceived to be lacking credibility, namely Portugal and even Spain. Looking at unemployment, the weather is playing havoc with short term data at the start of this year. In the USA, the unexpected uptick in initial jobless claims has raised fears that the improvement in the US job market is losing momentum. Weather could hurt employment again in February but offsetting this will be the hiring of Census work-ers which will continue up to May. The tension between these two opposing factors will obscure the underlying trend but a sense of what that trend might be will be a key ingredient to the timing of the next steps in the Fed's exit strategy.

This monthly factsheet is prepared by ING Funds Berhad. It is not intended to be an offer or invitation to subscribe or purchase of units. The information contained herein has been obtained from sources believed in good faith to be reliable, however, no guarantee is given in its accuracy or completeness. ING Funds Berhad makes no representation as to its accuracy or completeness and expressly disclaims any liability whatsoever for any loss arising from or in reliance upon whole or any part of this document. Expressions of opinion contained in this document are those of ING Funds and its investment managers and the information contained herein is current as at the date of publication. It should not be construed as an offer or a solicitation of an offer to purchase or subscribe or to sell units. Past performance of funds is not indicative of its future performance. The price of units and distribution payable, if any, may go down as well as up. ING Baraka Capital Protected is a capital protected fund. No units are available for subscription because the offer period for ING Baraka Capital Protected fund was 9 May 2007 – 22 June 2007. The Maturity Date of the Fund is on the 3rd Anniver-sary of the Fund which is expected to be 7 July 2010. The capital protection only applies to unit holders who hold their investment until maturity date. Any redemption before the maturity date would be based on the NAV of the fund on that day and would be charged an exit fee. To achieve its capital protection objective, the Fund invests in Ringgit denomi-nated Islamic Negotiable Instruments. Due to this, there may be dilution of performance due to the capital protection structure being in place compared to a conventional fund without capital protection. This fund is not guaranteed and is subject to risks. Principal risks of the Fund are early termination risk, currency risk, country risk, interest rate risk, concentration risk, credit risk, market risk and liquidity risk. The ING Baraka Capital Protected Prospectus dated 9 May 2007 has been registered with Securities Commission, who takes no responsibility for its contents. A copy of the Prospectuses can be obtained from ING Funds offices or any of our authorized distributors as listed under the Corporate Directory in the Prospectus. Investors are advised to read the Prospectus for further details of the capital protection structure. If investors are in doubt about the information provided, investors should seek professional advice.

Fund Fact Sheet Mar 2010 Issue I Pg 6

Sector Stocks

Abbott Laboratories

Astrazeneca PLC

Eli Lilly & Co.

GlaxoSmithKline PLC

Johnson & Johnson

Novartis AG

Roche Holding AG Part. Cert.

Consumer Services

Cardinal Health Inc.

Dun & Bradstreet Corp.

Esprit Holdings Ltd.

Next PLC

Shimamura Co. Ltd.

Shoppers Drug Mart Corp.

Telecommunications

China Mobile Ltd.

KDDI Corp.

MTN Group Ltd.

NTT DoCoMo Inc.

Consumer Goods

Coca-Cola Co.

Kimberly-Clark Corp.

Procter & Gamble Co.

Industrials

Automatic Data Processing Inc.

SGS S.A.

Yamato Holdings Co. Ltd.

Technology

Capgemini

M. Ericsson Telephone Co. Series

NTT Data Corp.

Basic Materials OneSteel Ltd

Yanzhou Coal Mining Co. Ltd.

Utilities AGL Energy Ltd.

Drax Group PLC

Health Care

Page 7: ING Funds Fact Sheets@March 2010

ING FUNDS MAR 2010

ING BARAKA CAPITAL PROTECTED II

To give you 100% capital protection and exposure to key global Islamic equity markets. At the end of the Fund’s maturity period, the Fund will return unit holders’ initial capital plus returns from the offshore investments, if any.

FUND DETAILS

SECTOR ALLOCATION* (as at 25 Feb 2010)

* As percentage of NAV. Asset exposure for the fund is subject to frequent change on a daily basis

PERFORMANCE RECORD Percentage growth of investment made on 30 Jul 07 at 26 Feb 2010 with dividend reinvested, NAV-NAV basis.

Source: Lipper Hindsight 5.433 on 8/3/10 The value of units may go down as well as up. Past performance is not indicative of future results.

PERFORMANCE TABLE (%) (as at 26 Feb 2010)

1-mth 6-mth Since Launch

Fund 0.03 0.68 0.68

Benchmark* 0.20 1.27 7.78

1-yr

1.34

2.61

THE FUND IS SUITABLE FOR INVESTORS WHO: Are seeking to preserve the value of their capital.

Want to participate and benefit from the potential upside of foreign Shariah-compliant equity markets.

Wish to diversify their investment locally and abroad.

Have low to moderate risk tolerance

Unit NAV (25 Feb 2010) RM 0.9916

Fund Size (25 Feb 2010) RM 247.125 mil

Fund Currency Ringgit Malaysia

Fund Launch 30 July 2007

Annual management Fee 1.00% of NAV of the Fund

Trustee Fee 0.08% of NAV of the Fund or a minimum of RM18,000 p.a.

Exit Fee 2.50% (Before 18th month from the com-mencement date) 1.50% (On or after 18th month from the commencement date) Nil. (On maturity date)

Maximum Initial Charge 1.5% of NAV per unit

Redemption Payment Period Up to 10 days

Investment Manager ING Funds Berhad

Fund Commencement 21 September 2007

Highest NAV (Since Inception) RM 0.9918

Lowest NAV (Since Inception) RM 0.9290

Maturity Payment Period 2 months from Maturity Date

32

1

1 Islamic Negotiable Instru-ments

99.6%

2 Collective Investment Scheme - Local

0.3%

3 FD/Cash 0.1%

* Maybank 12-month GIA rate . Source: Lipper Hindsight 5.43 on 8/3/10

This monthly factsheet is prepared by ING Funds Berhad. It is not intended to be an offer or invitation to subscribe or purchase of units. The information contained herein has been obtained from sources believed in good faith to be reliable, however, no guarantee is given in its accuracy or completeness. ING Funds Berhad makes no representation as to its accuracy or completeness and expressly disclaims any liability whatsoever for any loss arising from or in reliance upon whole or any part of this document. Expressions of opinion contained in this document are those of ING Funds and its investment managers and the information contained herein is current as at the date of publication. It should not be construed as an offer or a solicitation of an offer to purchase or subscribe or to sell units. Past performance of funds is not indicative of its future performance. The price of units and distribution payable, if any, may go down as well as up. ING Baraka Capital Protected II is a capital protected fund. No units are available for subscription because the offer period for ING Baraka Capital Protected II fund was 30 July 2007 – 12 September 2007. The Maturity Date of the Fund is on the 3rd Anniversary of the Fund which is expected to be 14 September 2010. The capital protection only applies to unit holders who hold their investment until maturity date. Any re-demption before the maturity date would be based on the NAV of the fund on that day and would be charged an exit fee. To achieve its capital protection objective, the Fund invests in Ringgit denominated Islamic Negotiable Instruments. Due to this, there may be dilution of performance due to the capital protection structure being in place compared to a conventional fund without capital protection. This fund is not guaranteed and is subject to risks. Principal risks of the Fund are early termination risk, currency risk, country risk, interest rate risk, concentration risk, credit risk, market risk and liquidity risk. The ING Baraka Capital Protected II Prospectus dated 30 July 2007 has been registered with Securities Commission, who takes no responsibility for its contents. A copy of the Prospectuses can be obtained from ING Funds offices or any of our authorized distributors as listed under the Corporate Directory in the Prospectus. Investors are advised to read the Prospectus for further details of the capital protection structure. If investors are in doubt about the information provided, investors should seek professional advice.

Fund Fact Sheet Mar 2010 Issue I Pg 7

942 Days From 30/07/2007 To 26/02/2010

Per

cen

tag

e G

row

th

-7.5

-5.0

-2.5

0.0

2.5

5.0

7.5

10.0

01/08 07/08 01/09 07/09

ING Baraka Capital Protected 2 = 0.7%

Maybank 12 Months GIA-i Tier I Rate = 7.8%

942 Days From 30/07/2007 To 26/02/2010

Per

cen

tag

e G

row

th

-7.5

-5.0

-2.5

0.0

2.5

5.0

7.5

10.0

01/08 07/08 01/09 07/09

ING Baraka Capital Protected 2 = 0.7%

Maybank 12 Months GIA-i Tier I Rate = 7.8%

MANAGER’S COMMENTS (Review period: Feb 2010) The Fund registered a return of 0.03% for the month of February 2010, underperforming its benchmark which returned 0.20%. The underperfor-mance is mainly due to the Fund effectively holding only fixed income instruments as its options currently do not provide any contribution to its returns. The Fund continues to deliver capital preservation.

Page 8: ING Funds Fact Sheets@March 2010

ING FUNDS MAR 2010

ING BARAKA CAPITAL PROTECTED II REVIEW OF SGAM AI BARAKA INDEX (Review Period: Feb 2010)

Fund Fact Sheet Mar 2010 Issue I Pg 8

This monthly factsheet is prepared by ING Funds Berhad. It is not intended to be an offer or invitation to subscribe or purchase of units. The information contained herein has been obtained from sources believed in good faith to be reliable, however, no guarantee is given in its accuracy or completeness. ING Funds Berhad makes no representation as to its accuracy or completeness and expressly disclaims any liability whatsoever for any loss arising from or in reliance upon whole or any part of this document. Expressions of opinion contained in this document are those of ING Funds and its investment managers and the information contained herein is current as at the date of publication. It should not be construed as an offer or a solicitation of an offer to purchase or subscribe or to sell units. Past performance of funds is not indicative of its future performance. The price of units and distribution payable, if any, may go down as well as up. ING Baraka Capital Protected II is a capital protected fund. No units are available for subscription because the offer period for ING Baraka Capital Protected II fund was 30 July 2007 – 12 September 2007. The Maturity Date of the Fund is on the 3rd Anniversary of the Fund which is expected to be 14 September 2010. The capital protection only applies to unit holders who hold their investment until maturity date. Any re-demption before the maturity date would be based on the NAV of the fund on that day and would be charged an exit fee. To achieve its capital protection objective, the Fund invests in Ringgit denominated Islamic Negotiable Instruments. Due to this, there may be dilution of performance due to the capital protection structure being in place compared to a conventional fund without capital protection. This fund is not guaranteed and is subject to risks. Principal risks of the Fund are early termination risk, currency risk, country risk, interest rate risk, concentration risk, credit risk, market risk and liquidity risk. The ING Baraka Capital Protected II Prospectus dated 30 July 2007 has been registered with Securities Commission, who takes no responsibility for its contents. A copy of the Prospectuses can be obtained from ING Funds offices or any of our authorized distributors as listed under the Corporate Directory in the Prospectus. Investors are advised to read the Prospectus for further details of the capital protection structure. If investors are in doubt about the information provided, investors should seek professional advice.

TOP 10 HOLDINGS (as at 26 Feb 2010) TOP 10 HOLDINGS (as at 26 Feb 2010) Company % Novartis AG 3.77

Cardinal Health Inc 3.65

SGS S.A. 3.56

Procter & Gamble Co. 3.56

NTT DoCoMo Inc 3.51

China Mobile Ltd 3.50

M. Ericcsson Telephone Co. Series 3.48

MTN Group Ltd 3.48

AGL Energy Ltd 3.45

Roche Holding AG Part. Cert 3.42

SECTOR ALLOCATION (as at 26 Feb 2010)

6.67%

6.67%

10.00%

10.00%

10.00%

13.33%

20.00%

23.33%

Utilit ies

Basic M aterials

Industrials

Technology

Consumer Goods

Telecoms

Consumer Services

Healthcare

GEOGRAPHICAL ALLOCATION (as at 26 Feb 2010)

3.30%

3.33%

3.33%

3.33%

6.67%

10.00%

10.00%

13.33%

16.67%

30.00%

Canada

France

South Africa

Sweden

Australia

Hong Kong

Switzerland

United Kingdom

Japan

United States

Source: Commentary and information on SGAM AI Baraka Index provided by Societe Generale Asset Management (SGAM)

The SGAM AI Baraka Index returned 0.24% in February, gaining over 30% since last year. In Europe, the Greek government is trying hard to convince the mar-kets but, equally important its EU compatriots, that it is serious in its intentions to tackle its fiscal problems. The reaction of the markets, as expressed in the CDS spreads, remains one of skepticism. What is more, this fever is dragging down the debt of other countries per-ceived to be lacking credibility, namely Portugal and even Spain. Looking at unemployment, the weather is playing havoc with short term data at the start of this year. In the USA, the unexpected uptick in initial jobless claims has raised fears that the improvement in the US job market is losing momentum. Weather could hurt employment again in February but offsetting this will be the hiring of Census work-ers which will continue up to May. The tension between these two opposing factors will obscure the underlying trend but a sense of what that trend might be will be a key ingredient to the timing of the next steps in the Fed's exit strategy.

Sector Stocks

Abbott Laboratories

Astrazeneca PLC

Eli Lilly & Co.

GlaxoSmithKline PLC

Johnson & Johnson

Novartis AG

Roche Holding AG Part. Cert.

Consumer Services

Cardinal Health Inc.

Dun & Bradstreet Corp.

Esprit Holdings Ltd.

Next PLC

Shimamura Co. Ltd.

Shoppers Drug Mart Corp.

Telecommunications

China Mobile Ltd.

KDDI Corp.

MTN Group Ltd.

NTT DoCoMo Inc.

Consumer Goods

Coca-Cola Co.

Kimberly-Clark Corp.

Procter & Gamble Co.

Industrials

Automatic Data Processing Inc.

SGS S.A.

Yamato Holdings Co. Ltd.

Technology

Capgemini

M. Ericsson Telephone Co. Series

NTT Data Corp.

Basic Materials OneSteel Ltd

Yanzhou Coal Mining Co. Ltd.

Utilities AGL Energy Ltd.

Drax Group PLC

Health Care

Page 9: ING Funds Fact Sheets@March 2010

ING FUNDS MAR 2010 ING BARAKA COMMODITIES CAPITAL PROTECTED

To give 100% capital protection and exposure to global Shariah compliant stocks linked to commodity market. At the end of the Fund’s maturity period, the Fund will return your initial capital plus returns from the offshore invest-ments, if any.

FUND DETAILS

ASSET ALLOCATION* (as at 25 Feb 2010)

* As percentage of NAV. Asset exposure for the fund is subject to frequent change on a daily basis

PERFORMANCE RECORD Percentage growth of investment made on 2 Oct 07 at 26 Feb 2010 with dividend reinvested, NAV-NAV basis.

Source: Lipper Hindsight 5.43 on 8/3/10 The value of units may go down as well as up. Past performance is not indicative of future results.

PERFORMANCE TABLE (%) (as at 26 Feb 2010)

1-mth 6-mth Since Launch

Fund -0.09 0.15 -0.47

Benchmark* 0.20 1.27 7.10

1-yr

-0.11

2.61

This monthly factsheet is prepared by ING Funds Berhad. It is not intended to be an offer or invitation to subscribe or purchase of units. The information contained herein has been obtained from sources believed in good faith to be reliable, however, no guarantee is given in its accuracy or completeness. ING Funds Berhad makes no representation as to its accuracy or completeness and expressly disclaims any liability whatsoever for any loss arising from or in reliance upon whole or any part of this document. Expressions of opinion contained in this document are those of ING Funds and its investment managers and the information contained herein is current as at the date of publication. It should not be construed as an offer or a solicitation of an offer to purchase or subscribe or to sell units. Past performance of funds is not indicative of its future performance. The price of units and distribution payable, if any, may go down as well as up. ING Baraka Commodities Capital Protected is a capital protected fund. No units are available for subscription because the offer period for ING Baraka Commodities Capital Protected fund was 2 October 2007 – 15 November 2007. The Maturity Date of the Fund is on the 3rd Anniversary of the Fund which is expected to be 25 November 2010. The capital protection only applies to unit holders who hold their investment until maturity date. Any redemption before the maturity date would be based on the NAV of the fund on that day and would be charged an exit fee. To achieve its capital protection objective, the Fund invests in Ringgit denominated Shariah-compliant financial instruments. Due to this, there may be dilution of performance due to the capital protection struc-ture being in place compared to a conventional fund without capital protection. This fund is not guaranteed and is subject to risks. Principal risks of the Fund are early termination risk, currency risk, country risk, interest rate risk, concentration risk, credit risk, market risk, liquidity risk, downgrade risk of issuers, capital protection risk and reclassification of Shariah status risk. A copy of the ING Baraka Commodities Capital Protected Prospectus dated 2 October 2007 has been registered with Securities Commission, who takes no responsibility for its contents. A copy of the Prospectuses can be obtained from ING Funds offices or any of our authorized distributors as listed under the Corporate Directory in the Prospec-tus. Investors are advised to read the Prospectus for further details of the capital protection structure. If investors are in doubt about the information provided, investors should seek professional advice.

THE FUND IS SUITABLE FOR INVESTORS WHO: Are seeking to preserve the value of their capital.

Want to participate and benefit from the potential upside of global Shariah-compliant equities.

Wish to diversify their investment locally and abroad.

Have low to moderate risk tolerance.

* Maybank 12-month GIA rate , Source: Lipper Hindsight 5.43 on 8/3/10

1

231

Shariah-compliant financial instruments

99.4%

2 SGAM Baraka Commodity Option

0.5%

3 FD/Cash 0.1%

Unit NAV (25 Feb 2010) RM 0.9815

Fund Size (25 Feb 2010) RM 254.573 mil

Fund Currency Ringgit Malaysia

Fund Launch 2 October 2007

Annual Management Fee 1.00% of NAV of the Fund

Trustee Fee 0.08% of NAV of the Fund or a minimum of RM18,000 p.a.

Exit Fee 2.50% (Before 18th month from the com-mencement date)

1.50% (On or after 18th month from the commencement date)

Nil. (On maturity date)

Maximum Initial Charge 1.5% of NAV per unit

Redemption Payment Period Up to 10 days

Investment Manager ING Funds Berhad

Fund Commencement 26 November 2007

Highest NAV (Since Inception) RM 1.0011

Lowest NAV (Since Inception) RM 0.9477

Maturity Payment Period 2 months from Maturity Date

Fund Fact Sheet Mar 2010 Issue I Pg 9

Total Return From 02/10/2007 To 26/02/2010

Perc

enta

ge G

row

th

-5.0

-2.5

0.0

2.5

5.0

7.5

01/08 07/08 01/09 07/09

Maybank 12 Months GIA-i Tier I Rate = 7.1%

ING Baraka Commodities Capital Protected = - 0.5%

Total Return From 02/10/2007 To 26/02/2010

Perc

enta

ge G

row

th

-5.0

-2.5

0.0

2.5

5.0

7.5

01/08 07/08 01/09 07/09

Maybank 12 Months GIA-i Tier I Rate = 7.1%

ING Baraka Commodities Capital Protected = - 0.5%

MANAGER’S COMMENTS (Review Period: Feb 2010) The fund registered a return of -0.09% for the month of January 2010, underperforming its benchmark which returned 0.20%. The underperfor-mance is mainly due to the fund effectively holding only fixed income in-struments as its options currently provide only marginal contribution to its returns. The fund continues to deliver capital preservation.

Page 10: ING Funds Fact Sheets@March 2010

ING FUNDS MAR 2010 ING BARAKA COMMODITIES CAPITAL PROTECTED

REVIEW OF SGAM AI BARAKA COMMODITY INDEX (Review Period: Feb 2010)

TOP 10 HOLDINGS (as at 26 Feb 2010) Company % ArcelorMittal South Africa Ltd 3.62

China Coal Energy Co. Ltd 3.60

WorleyParsons Ltd 3.57

Yanzhou Coal Mining Co. Ltd 3.49

Sino-Forest Corp. 3.46

Albermarle Corp. 3.46

StatoilHydro ASA 3.41

E.I. Dupont de Nemours & Co. 3.40

Nucor Corp. 3.38

Compass Minerals International Inc. 3.36

SECTOR ALLOCATION (as at 26 Feb 2010)

GEOGRAPHICAL ALLOCATION (as at 26 Feb 2010)

Source: Commentary and fund information provided by Societe Generale Asset Management (SGAM)

4 0 .0 0 %

6 0 .0 0 %

Oil & Gas

B asicM at er ials

3 .3 3 %

3 .3 3 %

3 .3 3 %

3 .3 3 %

3 .3 3 %

6 .6 7%

10 .0 0 %

10 .0 0 %

10 .0 0 %

3 .3 3 %

3 .3 3 %

It aly

F rance

Jap an

N et herland s

N o rway

Swit zer land

T urkey

Germany

C anad a

Ho ng Ko ng

So ut h A f r ica

Sector Stocks

Basic Material

Agrium Inc.

Air Products & Chemicals Inc.

Albemarle Corp.

ArcelorMittal South Africa Ltd.

BHP Billiton Ltd.

BlueScope Steel Ltd.

China Coal Energy Co. Ltd.

Compass Minerals International Inc.

E.I. DuPont de Nemours & Co.

Gold Fields Ltd.

Nitto Denko Corp.

Nucor Corp.

Orica Ltd.

Salzgitter AG

Sino-Forest Corp.

Syngenta AG

Wacker Chemie AG

Yanzhou Coal Mining Co. Ltd.

Oil & Gas

Canadian Oil Sands Trust

CNOOC Ltd.

Diamond Offshore Drilling Inc.

ENI S.p.A.

Fugro N.V.

Occidental Petroleum Corp.

Sasol Ltd.

StatoilHydro ASA

Tidewater Inc.

Total S.A.

Turkiye Petrol Rafinerileri A.S.

WorleyParsons Ltd.

The SGAM AI Baraka Commodity Index gained 0.61% in February, gaining 29.61% since last year. Front-month crude prices have once again been volatile, and have lost some ground at the end of the month. Prices fell mainly due to negative macroeconomic data flow, which drove concerns and doubts about the economic and oil demand recovery this year. De-spite current negative sentiment in the oil markets, SG Research’s view is that the $70-85 range will hold in the near term. The price floor is still being set by expected economic and oil demand growth, more OPEC cuts if needed (in actual crude, not quotas), and bullish longer-term fundamentals. On the other hand, aluminum remains the most challenged of the LME base metals in terms of over supply, with little prospect of im-provement during 2010. For 2009, it was estimated that the Alumi-num market faced a surplus of 3.3 million tones, equivalent to 5 weeks global consumption. While undoubtedly aluminum demand growth is rebounding strongly China, concerns still exist for demand elsewhere. A significant surplus is a downside risk on prices over the medium term.

This monthly factsheet is prepared by ING Funds Berhad. It is not intended to be an offer or invitation to subscribe or purchase of units. The information contained herein has been obtained from sources believed in good faith to be reliable, however, no guarantee is given in its accuracy or completeness. ING Funds Berhad makes no representation as to its accuracy or completeness and expressly disclaims any liability whatsoever for any loss arising from or in reliance upon whole or any part of this document. Expressions of opinion contained in this document are those of ING Funds and its investment managers and the information contained herein is current as at the date of publication. It should not be construed as an offer or a solicitation of an offer to purchase or subscribe or to sell units. Past performance of funds is not indicative of its future performance. The price of units and distribution payable, if any, may go down as well as up. ING Baraka Commodities Capital Protected is a capital protected fund. No units are available for subscription because the offer period for ING Baraka Commodities Capital Protected fund was 2 October 2007 – 15 November 2007. The Maturity Date of the Fund is on the 3rd Anniversary of the Fund which is expected to be 25 November 2010. The capital protection only applies to unit holders who hold their investment until maturity date. Any redemption before the maturity date would be based on the NAV of the fund on that day and would be charged an exit fee. To achieve its capital protection objective, the Fund invests in Ringgit denominated Shariah-compliant financial instruments. Due to this, there may be dilution of performance due to the capital protection struc-ture being in place compared to a conventional fund without capital protection. Investments involve risk This fund is not guaranteed and is subject to risks. Principal risks of the Fund are early termination risk, currency risk, country risk, interest rate risk, concentration risk, credit risk, market risk, liquidity risk, downgrade risk of issuers, capital protection risk and reclassification of Shariah status risk. A copy of the ING Baraka Commodities Capital Protected Prospectus dated 2 October 2007 has been registered with Securities Commission, who takes no responsibility for its contents. A copy of the Prospectuses can be obtained from ING Funds offices or any of our authorized distributors as listed under the Corporate Directory in the Prospectus. Investors are advised to read the Prospectus for further details of the capital protection structure. If investors are in doubt about the information provided, investors should seek professional advice.

Fund Fact Sheet Mar 2010 Issue I Pg 10

Page 11: ING Funds Fact Sheets@March 2010

ING FUNDS MAR 2010 ING ANNUAL ALPHA ACCESS CAPITAL PROTECTED

To provide 100% capital protection and outperformance based on a basket comprising of the Global Emerging markets ex-Asia and Asia Emerging markets indices versus the U.S. S&P 500 index with the annual distribution of the outperformance return, if any.

FUND DETAILS

ASSET ALLOCATION* (as at 25 Feb 2010)

* As percentage of NAV. Asset exposure for the fund is subject to frequent change on a daily basis

PERFORMANCE RECORD Percentage growth of investment made on 8 Apr 08 at 26 Feb 2010 with dividend reinvested, NAV-NAV basis.

Source: Lipper Hindsight 5.43 on 8/3/10 The value of units may go down as well as up. Past performance is not indicative of future results.

PERFORMANCE TABLE(%) (as at 26 Feb 2010)

1-mth 6-mth Since Launch

Fund -0.03 0.10 -1.85

Benchmark* 0.19 1.23 5.77

1-yr

-0.17

2.49

THE FUND IS SUITABLE FOR INVESTORS WHO: Seek to preserve the value of their capital.

Want to participate and benefit from the potential outperformance return of a diversified portfolio of global emerging markets versus the U.S. S&P 500 index under all market conditions

Wish to obtain annual income distribution from outperformance returns

Have low to moderate risk tolerance.

*Maybank 12-mth FD rate. Source: Lipper Hindsight 5.43 on 8/3/10

2

1

1 Zero-coupon Negotiable Instruments of Deposit

99.9%

2 FD/Cash 0.1%

Unit NAV (25 Feb 2010) RM 0.9673

Fund Size (25 Feb 2010) RM 174.962 mil

Fund Currency Ringgit Malaysia

Fund Launch 8 April 2008

Annual Management Fee 1.00% of NAV of the Fund

Trustee Fee 0.08% of NAV of the Fund or a minimum of RM18,000 p.a.

Exit Fee 2.50% (Before 18th month from the com-mencement date)

1.50% (On or after 18th month from the commencement date)

Nil. (On maturity date)

Initial Charge During the life of the Prospectus, a maxi-mum of 1.5% of NAV per unit

Redemption Payment Period Up to 10 days

Investment Manager ING Funds Berhad

Fund Commencement 2 June 2008

Highest NAV (Since Inception) RM 0.9862

Lowest NAV (Since Inception) RM 0.9272

Maturity Payment Period 2 months from Maturity Date

REVIEW OF THE EQUITY INDEX MARKETS OF ING AAA INDEX OPTIONS (as at 26 Feb 2010)

-4 .75%

2.85%

-3.29%

1.49%

5.74%5.69%

-2.66%-0.94%

0.40%

HS

CE

I

KO

SP

I2

TW

Y

AS

51

RD

XU

SD

CE

CE

EU

R

EW

Z U

S

EW

W U

S

SP

X

This monthly factsheet is prepared by ING Funds Berhad. It is not intended to be an offer or invitation to subscribe or purchase of units. The information contained herein has been obtained from sources believed in good faith to be reliable, however, no guarantee is given in its accuracy or completeness. ING Funds Berhad makes no representation as to its accuracy or completeness and expressly disclaims any liability whatsoever for any loss arising from or in reliance upon whole or any part of this document. Expressions of opinion contained in this document are those of ING Funds and its investment managers and the information contained herein is current as at the date of publication. It should not be construed as an offer or a solicitation of an offer to purchase or subscribe or to sell units. Past performance of funds is not indicative of its future performance. The price of units and distribution payable, if any, may go down as well as up. ING Annual Alpha Access Capital Protected is a capital protected fund. No units are available for subscription because the offer period for ING Annual Alpha Access Capital Protected fund was 8 April 2008 – 22 May 2008. The Maturity Date of the Fund is on the 3rd Anniversary of the Fund which is expected to be 2 June 2011. The capital protection only applies to unit holders who hold their investment until maturity date. Any redemption before the maturity date would be based on the NAV of the fund on that day and would be charged an exit fee. To achieve its capital protection objective, the Fund invests in Ringgit denominated financial instruments (Zero-coupon Negotiable Instruments of Deposit) from local financial institutions. Due to this, there may be dilution of performance due to the capital protection structure being in place compared to a conventional fund without capital protection. This fund is not guaranteed and is subject to risks. Principal risks of the Fund are credit risk, liquidity risk, early termination risk, option risk, interest rate risk, country risk, concentration risk, downgrade risk of issuers and capital protected risk. A copy of the ING Annual Alpha Access Capital Protected Prospectus dated 8 April 2008 has been registered with Securities Commission, who takes no responsi-bility for its contents. A copy of the Prospectuses can be obtained from ING Funds offices or any of our authorized distributors as listed under the Corporate Directory in the Prospectus. Investors are advised to read the Prospectus for further details of the capital protection structure. If investors are in doubt about the information provided, investors should seek professional advice.

Fund Fact Sheet Mar 2010 Issue I Pg 11

Total Return From 08/04/2008 To 26/02/2010

Per

cen

tag

e G

row

th

-7.5

-5.0

-2.5

0.0

2.5

5.0

7.5

07/08 10/08 01/09 04/09 07/09 10/09

ING Annual Alpha Access Capital Protected = - 1.8%

Maybank 12 Months FD rate = 5.8%

Total Return From 08/04/2008 To 26/02/2010

Per

cen

tag

e G

row

th

-7.5

-5.0

-2.5

0.0

2.5

5.0

7.5

07/08 10/08 01/09 04/09 07/09 10/09

ING Annual Alpha Access Capital Protected = - 1.8%

Maybank 12 Months FD rate = 5.8%

MANAGER’S COMMENTS (Review Period: Feb 2010) The fund registered a return of -0.03% for the month of February 2010, underperforming its benchmark which returned 0.20%. The outperfor-mance was mainly due the unfavourable valuation of the fund’s holdings of fixed income instruments while its options currently do not provide any contribution to its returns. The fund continues to deliver capital preserva-tion.

Page 12: ING Funds Fact Sheets@March 2010

ING FUNDS MAR 2010 ING ANNUAL ALPHA ACCESS CAPITAL PROTECTED

Hang Seng China Enterprises Index (HSCEI) Index Level % Change MoM 29 Jan 2010 11,498.20 26 Feb 10 11, 543.73 0.40%

The Hang Seng China Enterprises Index posted a mild gain of 0.40% after the government said it will extend support for the country’s industries amid weak global demand. The government will continue to expand do-mestic demand, consolidate the recovery in key industries and encourage companies to find new export markets, according to the statement re-leased after a meeting chaired by Premier Wen Jiabao. The copper pro-ducers surged on concern that supplies may be disrupted after an earth-quake in Chile, the world’s largest producer of the metal.

Korea Composite Stock Price 200 Index (KOSPI2) Index Level % Change MoM 28 Jan 2010 210.34 26 Feb 2010 208.36 -0.94%

Kospi200 Index posted a mild loss of 0.94%. However, South Korea’s exports rose for a fourth month in February, while a leading index of eco-nomic indicators, which provides a gauge of future business activity, climbed 11.3 percent in January from a year earlier. Analysts forecast that South Korea is likely to expand more than 5 percent in 2010, the fastest pace in three years, after posting growth of 0.2 percent last year. The 765 companies in the Kospi trade at 10.22 times estimated earnings, the sec-ond-lowest in Asia Pacific after Pakistan, according to data compiled by Bloomberg.

MSCI Taiwan Index (TWY) Index Level % Change MoM

29 Jan 2010 276.42

26 Feb 2010 267.33 -3.29%

The MSCI Taiwan Index declined 3.29% on a month-to-month basis on concerns that some European nations will struggle to finance widening budget deficits eroded investor appetite for emerging-market assets. Far Eastern Department Stores Ltd. Led declines among retail stocks, sinking to a nine-month low.

S&P Australian Stock Market 200 INDEX (AS51)

Index Level % Change MoM 29 Jan 2010 4,569.60

26 Feb 2010 4,637.70 1.49%

Australia ASX200 Index posted a mild gain of 1.49% after commodity prices gained and the manufacturing expanded at the fastest pace since 2007. Australian retail sales rose 1.2 percent in January from the previous month, beating the 0.5 percent increase expected by economists in a Bloomberg survey.

Source: Information on Equity Index Markets provided by ING Bank Sin-gapore

CECE Traded Index (CECEEUR)

Index Level % Change MoM

29 Jan 2010 1,893.68

26 Feb 2010 1,843.25 -2.66%

The CECEEUR Index, which constitutes member stocks from the bourses of Czech Republic, Poland and Hungary declined 2.66% on Greece’s budget issues.

iShares MSCI Brazil Index (EWZ US) Index Level % Change MoM

29 Jan 2010 64.69

26 Feb 2010 68.37 5.69%

The iShares MSCI Brazil Index Fund has 5.69% growth, and it rallied to the highest since January after Banco Bradesco SA said iron prices may almost double this year and homebuilders rallied on the outlook for higher sales. Cia. Siderurgica Nacional SA, Brazil’s third-biggest steelmaker, rose the most in three months after its chief executive officer estimated its mining spin-off may be worth $20 billion.

Index Level % Change MoM

29 Jan 2010 46.00

26 Feb 2010 48.64 5.74%

iShares MSCI Mexico Investable Market Index (EWW US)

The iShares MSCI Index Fund posted a gain of 5.74% as Latin America’s second-biggest economy benefits from a recovery in the U.S. Analysts forecast that signs the U.S. economy is recovering from the worst eco-nomic downturn since the 1930s, including improving manufacturing data, will boost Mexican shares.

Standard & Poor’s 500 Index (SPX) Index Level % Change (MoM)

29 Jan 2010 1,073.87

26 Feb 2010 1,104.49 2.85%

The S&P500 Index posted a gain of 2.85% on month-to-month basis. It swung between gains and declines as reports showed business activity expanded this month and gross domestic product topped estimates, while American International Group Inc. plunged on its quarterly loss and home sales missed projections. However, the U.S. economy expanded at a 5.9 percent annual rate in the fourth quarter, more than the government re-ported last month, reflecting stronger business investment and a greater contribution from inventories.

REVIEW OF THE EQUITY INDEX MARKETS OF ING AAA INDEX OPTIONS (Review Period: Feb 2010)

Russian Depository Index (RDXUSD) Index Level % Change MoM

29 Jan 2010 1,681.03

26 Feb 2010 1,601.12 -4.75%

The Russian Depositary Index has declined 4.75% from a 17-month high in January on speculation that falling oil prices, higher interest rates in China and growing budget deficits for Greece, Portugal and Spain will dent earnings prospects for companies in Russia, the world’s largest energy supplier.

This monthly factsheet is prepared by ING Funds Berhad. It is not intended to be an offer or invitation to subscribe or purchase of units. The information contained herein has been obtained from sources believed in good faith to be reliable, however, no guarantee is given in its accuracy or completeness. ING Funds Berhad makes no representation as to its accuracy or completeness and expressly disclaims any liability whatsoever for any loss arising from or in reliance upon whole or any part of this document. Expressions of opinion contained in this document are those of ING Funds and its investment managers and the information contained herein is current as at the date of publication. It should not be construed as an offer or a solicitation of an offer to purchase or subscribe or to sell units. Past performance of funds is not indicative of its future performance. The price of units and distribution payable, if any, may go down as well as up. ING Annual Alpha Access Capital Protected is a capital protected fund. No units are available for subscription because the offer period for ING Annual Alpha Access Capital Protected fund was 8 April 2008 – 22 May 2008. The Maturity Date of the Fund is on the 3rd Anniversary of the Fund which is expected to be 2 June 2011. The capital protection only applies to unit holders who hold their investment until maturity date. Any redemption before the maturity date would be based on the NAV of the fund on that day and would be charged an exit fee. To achieve its capital protection objective, the Fund invests in Ringgit denominated financial instruments (Zero-coupon Negotiable Instruments of Deposit) from local financial institutions. Due to this, there may be dilution of performance due to the capital protection structure being in place compared to a conventional fund without capital protection. Investments involve risk This fund is not guaranteed and is subject to risks. Principal risks of the Fund are credit risk, liquidity risk, early termination risk, option risk, interest rate risk, country risk, concentration risk, downgrade risk of issuers and capital protected risk. A copy of the ING Annual Alpha Access Capital Protected Prospectus dated 8 April 2008 has been registered with Securities Commission, who takes no responsibility for its contents. A copy of the Prospectuses can be obtained from ING Funds offices or any of our authorized distributors as listed under the Corporate Directory in the Prospectus. Investors are advised to read the Prospectus for further details of the capital protection structure. If investors are in doubt about the information provided, investors should seek professional advice.

Fund Fact Sheet Mar 2010 Issue I Pg 12

Page 13: ING Funds Fact Sheets@March 2010

ING FUNDS MAR 2010 ING ANNUAL INCOME CLIMATE STRUCTURED FUND

Aims to provide an annual income distribution of 5%, subject to fluctuations in the Australian Dollar-Malaysian Ringgit exchange rate ,for the first three years and an additional return upon maturity which depends on the potential of the Citi Climate Change Opportunities Index to outperform global equity markets, in this case represented by the S&P 500 Index, the Euro Stoxx 50 Index, the FTSE 100 Index and the Nikkei 225 Index.

THE FUND IS SUITABLE FOR INVESTORS WHO: Seek an annual income distribution of 5%, subject to fluctuations in

Australian Dollar - Malaysian Ringgit exchange rate, for the first three years;

Seek to benefit from the potential outperformance of a portfolio of companies which are expected to benefit from the opportunities created by global climate change versus the best performing of the S&P 500 Index, the EuroStoxx 50 Index, the FTSE 100 Index and the Nikkei 225 Index;

Have low to moderate risk tolerance; and

Are able to withstand currency risk.

FUND DETAILS Unit NAV (25 Feb 2010) RM 1.1884

Fund Size (25 Feb 2010) RM 118.019 mil

Fund Currency Ringgit Malaysia

Fund Launch 10 September 2008

Annual Management Fee 1.00% of NAV of the Fund

Trustee Fee 0.08% of NAV of the Fund or a minimum of RM18,000 p.a.

Exit Fee Nil.

Maximum Initial Charge 1.5% of NAV per unit

Redemption Payment Period Up to 10 days

Investment Manager ING Funds Berhad

Fund Commencement 5 November 2008

Highest NAV (Since Inception) RM 1.2782

Lowest NAV (Since Inception) RM 0.9100

Maturity Payment Period 2 months from Maturity Date

ASSET ALLOCATION* (as at 25 Feb 2010)

* As percentage of NAV. Asset exposure for the fund is subject to frequent change on a daily basis

PERFORMANCE RECORD Percentage growth of investment made on 10 Sep 08 at 26 Feb 2010 with dividend reinvested, NAV-NAV basis.

Source: Lipper Hindsight 5.43 on 8/3/10 The value of units may go down as well as up. Past performance is not indicative of future results.

PERFORMANCE TABLE (%) (as at 26 Feb 2010)

1-mth 6-mth Since Launch

Fund 0.66 5.08 28.01

Benchmark* 0.20 1.27 4.04

1-yr

27.76

2.61

*Maybank 12-month GIA rate , Source: Lipper Hindsight 5.43 on 8/3/10

2

1

1 Foreign Notes 98.7%

2 FD/Cash 1.3%

DISTRIBUTION HISTORY

Entitlement date: Distribution (sen)

Distribution Yield

5 Nov 09 Net 6.51 6.51%

This monthly factsheet is prepared by ING Funds Berhad. It is not intended to be an offer or invitation to subscribe or purchase of units. The information contained herein has been obtained from sources believed in good faith to be reliable, however, no guarantee is given in its accuracy or completeness. ING Funds Berhad makes no representation as to its accuracy or completeness and expressly disclaims any liability whatsoever for any loss arising from or in reliance upon whole or any part of this docu-ment. Expressions of opinion contained in this document are those of ING Funds and its investment managers and the information contained herein is current as at the date of publication. It should not be construed as an offer or a solicitation of an offer to purchase or subscribe or to sell units. Past performance of funds is not indicative of its future performance. The price of units and distribution payable, if any, may go down as well as up. No units are available for subscription because the offer period for ING Annual Income Climate Structured Fund was 10 September 2008 – 24 October 2008. The Maturity Date of the Fund is on the 3rd Anniversary of the Fund which is expected to be 23 January 2012. Investment involves risk including a possible loss to the principal amount invested. Principal risks of the Fund are currency risk, credit risk, liquidity risk, early termination risk, option risk, interest rate risk, country risk, con-centration risk and downgrade risk of issuers. A copy of the ING Annual Income Climate Structured Fund Prospectus dated 10 September 2008 has been registered with Securities Commission, who takes no responsibility for its contents. A copy of the Prospectuses can be obtained from ING Funds offices or any of our authorized distributors as listed under the Corpo-rate Directory in the Prospectus. Investors are advised to read the Prospectus for further details of the capital protection structure. If investors are in doubt about the information provided, investors should seek professional advice.

Fund Fact Sheet Mar 2010 Issue I Pg 13

Total Return From 10/09/2008 To 26/02/2010

Per

cen

tag

e G

row

th

-10

-5

0

5

10

15

20

25

30

35

10/08 01/09 04/09 07/09 10/09 01/10

Maybank 12 Months GIA-i Tier I Rate = 4.0%

ING Annual Income Climate Structured = 28.0%

Total Return From 10/09/2008 To 26/02/2010

Per

cen

tag

e G

row

th

-10

-5

0

5

10

15

20

25

30

35

10/08 01/09 04/09 07/09 10/09 01/10

Maybank 12 Months GIA-i Tier I Rate = 4.0%

ING Annual Income Climate Structured = 28.0%

MANAGER’S COMMENTS (Review Period: Feb 2010) The fund registered a return of 0.66% for the month of February 2010, outperforming its benchmark which returned 0.20%. The outperformance was mainly due to the favourable valuation of the fund’s Australian Dollar-denominated assets. The fund continues to deliver its expected annual income with potential upside should the market turn positive.

Page 14: ING Funds Fact Sheets@March 2010

ING FUNDS MAR 2010 ING ANNUAL INCOME CLIMATE STRUCTURED FUND

REVIEW OF THE CITI CLIMATE CHANGE INDEX (CUCCP) (Review Period: Feb 2010)

In February the global equity market has shown a mixed performance, not showing any major trend and growing sideways. However, this year has been in red for all the benchmark indices and the index itself. The Index is still the best performer amongst its four benchmark indices since its strike, though that outperformance is narrowing.

Source: Commentary and fund information provided by Citibank

SECTOR ALLOCATION

27%

19%

19%

15%

12%

8%

Utilities

Industrials

ConsumerDiscretionary

M aterials

Energy

Insurance

GEOGRAPHICAL ALLOCATION

54%

27%

15%

4%

Europe

North America

Asia

Australia

TOP 10 HOLDINGS

Equities %

Toyota Motor 3.85

Gaz De France 3.85

Siemens AG 3.85

Honda Motor 3.85

BG Group 3.85

Air Liquide (L) Ord 3.85

Syngenta 3.85

Deere & Co 3.85

CME Group Inc 3.85

Centrica Plc Ord 3.85

Country

Japan

France

Germany

Japan

Britain

France

Switzerland

United States

Finland

Britain

Index Month

on Month

Year To Date

Since Strike Date (6 Nov 08)

Climate Change Index (CUCCP)

-2.27% -9.89% 25.36%

Nikkei 225 Index -0.71% -3.99% 13.79%

EuroStoxx50 Index -1.74% -7.98% 7.33%

S&P 500 Index 2.85% -0.95% 22.06%

FTSE 100 Index 3.20% -.108% 2.33%

This monthly factsheet is prepared by ING Funds Berhad. It is not intended to be an offer or invitation to subscribe or purchase of units. The information contained herein has been obtained from sources believed in good faith to be reliable, however, no guarantee is given in its accuracy or completeness. ING Funds Berhad makes no representation as to its accuracy or completeness and expressly disclaims any liability whatsoever for any loss arising from or in reliance upon whole or any part of this docu-ment. Expressions of opinion contained in this document are those of ING Funds and its investment managers and the information contained herein is current as at the date of publication. It should not be construed as an offer or a solicitation of an offer to purchase or subscribe or to sell units. Past performance of funds is not indicative of its future performance. The price of units and distribution payable, if any, may go down as well as up. No units are available for subscription because the offer period for ING Annual Income Climate Structured Fund was 10 September 2008 – 24 October 2008. The Maturity Date of the Fund is on the 3rd Anniversary of the Fund which is expected to be 23 January 2012. Investment involves risk including a possible loss to the principal amount invested. Principal risks of the Fund are currency risk, credit risk, liquidity risk, early termination risk, option risk, interest rate risk, country risk, con-centration risk and downgrade risk of issuers. A copy of the ING Annual Income Climate Structured Fund Prospectus dated 10 September 2008 has been registered with Securities Commission, who takes no responsibility for its contents. A copy of the Prospectuses can be obtained from ING Funds offices or any of our authorized distributors as listed under the Corpo-rate Directory in the Prospectus. Investors are advised to read the Prospectus for further details of the capital protection structure. If investors are in doubt about the information provided, investors should seek professional advice. If investors are in doubt about the information provided, investors should seek professional advice.

Fund Fact Sheet Mar 2010 Issue I Pg 14

Page 15: ING Funds Fact Sheets@March 2010

ING FUNDS MAR 2010 ING CASH PLUS

To provide investors a regular stream of income through investments in short to medium-term fixed income instruments with high level of liquidity.

THE FUND IS SUITABLE FOR INVESTORS WHO: Desire a steady stream of income

Have short to medium-term investment horizon

Have low tolerance of investment risks

Want a highly liquid investment portfolio

Want a low risk fund as part of the asset allocation strategy

MANAGER’S COMMENTS (Review Period: Feb 2010) In February, the Fund returned 0.14%, underperforming the benchmark of 0.15% by a marginal 0.01%. The underperformance relative to the bench-mark was partially due to the selected high-grade corporate bonds which prices were marked down in tandem with sell-down along short-term gov-ernment bonds driven by anticipation of imminent rate hike by the central bank. Nonetheless, the fund maintained in Quartile 2 ranking under the money market category as yield enhancement from other short-term bonds as well as commercial papers continued to contribute positive to the Fund. The fund will continue to provide for sufficient liquidity to meet overnight redemption requirement.

FUND DETAILS Unit NAV (at 25 Feb 2010) RM 0.9954

Highest NAV (Since Inception) RM 0.9974

Lowest NAV (Since Inception) RM 0.9876

Fund size (at 25 Feb 2010): RM 236.811mil

Fund Currency Ringgit Malaysia

Fund Inception 26 October 2006

Annual Management Fee Up to 0.75% of NAV of the Fund

Trustee Fee 0.07% of NAV of the Fund or a minimum of RM18,000 p.a.

Exit Fee Nil

Maximum Initial Charge Nil

Redemption Payment Period

Next Business day after the redemption request is received by the Manager at or before 4pm on a Business Day.

Distribution Policy Income will be distributed monthly on a best effort basis, if any.

Investment Manager ING Funds berhad

LARGEST HOLDINGS* (as at 25 Feb 2010)

Maybank Banking Berhad 5.3%

Sabah Development Bank Bhd 4.8%

YTL Power International 4.7%

RHB Capital Bhd 4.1%

Cagamas Berhad 4.0%

*As a percentage of NAV

ASSET ALLOCATION* (as at 25 Feb 2010)

* As percentage of NAV. Asset exposure for the fund is subject to frequent change on a daily basis

PERFORMANCE RECORD Percentage growth of investment made on 28 Feb 2009 at 26 Feb 2010 with dividend reinvested, NAV-NAV basis.

Source: Lipper Hindsight 5.43 on 8/3/10 The value of units may go down as well as up. Past performance is not indica-tive of future results.

PERFORMANCE TABLE(%) (as at 26 Feb 2010)

1-mth 6-mth 1-yr

Fund 0.14 1.09 2.44

Benchmark* 0.15 0.98 2.01

3-yr

8.87

8.27

Entitlement date: Distribution Distribution Yield

27 Jan 2010 Net 0.0019 0.19%

24 Feb 2010 Net 0.0019 0.19%

DISTRIBUTION HISTORY IN 2010

1 FD/Negotiable Instru-ments/Cash

45.0%

2 Corporate Bonds 34.9%

3 Commercial papers 18.6%

4 Malaysian Government Securities

1.5%

* Maybank 1-month FD rate. Source: Lipper Hindsight 5.43 on 8/3/10.

(1) Based on the fund’s portfolio returns as at 15 Mar 2010, the Volatility Factor (VF) for this fund is 0.25 and is classified as “Very Low”. (source: Lipper) “Very Low” includes funds with VF that are 0 and less than or equal to 4.73 (source: Lipper). The VF means there is a possibility for the fund in generating an upside return or downside return around this VF. The Volatility Class (VC) is assigned by Lipper based on quintile ranks of VF for qualified funds. VF is subject to monthly revision and VC will be revised every six months. The fund’s portfolio may have changed since this date and there is no guarantee that the fund will continue to have the same VF or VC in the future. Presently, only funds launched in the market for at least 36 months will display the VF and its VC.

This monthly factsheet is prepared by ING Funds Berhad. It is not intended to be an offer or invitation to subscribe or purchase of units. The information contained herein has been obtained from sources believed in good faith to be reliable. ING Funds Berhad makes no representation as to its accuracy or completeness and ex-pressly disclaims any liability whatsoever for any loss arising from or in reliance upon whole or any part of this document. Expressions of opinion contained in this document are those of ING Funds and its investment managers and the information contained herein is current as at the date of publication. Past performance of funds is not indicative of its future performance and prices can go down as well as up. Investors are advised that following any unit split or distribution declared (if any), the NAV per unit will be reduced from pre-unit split NAV NAV / cum-distribution NAV to post-unit split NAV/ex-distribution NAV. Where a unit splits is declared (if any), investors should note that the value of their investment in Malaysian Ringgit will remain unchanged after the distribution of the additional units. Investment involves risk including a possible loss to the principal amount invested. Principal risks of the Fund are Market risk, liquidity risk, interest rate risk and credit/default risk. A copy of the Master Prospectus incorporating ING OneAnswerTM Investment Funds, ING i -Enhanced Cash and ING Cash Plus dated 23 April 2009 and Supplementary Master Prospectus incorporating ING OneAnswerTM Investment Funds, ING i -Enhanced Cash and ING Cash Plus dated 16 October 2009 have been registered with the Securities Commission, who takes no responsibility for its contents. Investors are advised to read the Prospectus before investing. Application for units can only be made on receipt of a form of application referred to in and accompanying the Master Supplementary Prospectus. Investors should also consider the fees and charges involved. A copy of the Master & Supplementary Master Prospectuses can be obtained from ING Funds office or any of our authorized distributors listed under the corporate directory in the Master Prospectus. The fund may not be suitable for all and if in doubt investors should seek professional advice.

(1)

Fund Fact Sheet Mar 2010 Issue I Pg 15

1

2

3 4

Total Return From 27/02/2009 To 26/02/2010

Per

centa

ge

Gro

wth

-0.25

0.00

0.25

0.50

0.75

1.00

1.25

1.50

1.75

2.00

2.25

2.50

2.75

04/09 07/09 10/09 01/10

ING Cash Plus = 2.44%

Maybank 1 Month FD = 2.01%

Total Return From 27/02/2009 To 26/02/2010

Per

centa

ge

Gro

wth

-0.25

0.00

0.25

0.50

0.75

1.00

1.25

1.50

1.75

2.00

2.25

2.50

2.75

04/09 07/09 10/09 01/10

ING Cash Plus = 2.44%

Maybank 1 Month FD = 2.01%

Lipper Analytics

15 Mar 10

3-year Fund Volatility

Page 16: ING Funds Fact Sheets@March 2010

ING FUNDS MAR 2010

ING i-ENHANCED CASH

To provide investors a regular stream of income and high level of liquidity to meet cash flow requirement while maintaining capital preservation. All investment instruments of the Fund will be Shariah-compliant.

FUND DETAILS

LARGEST HOLDINGS* (as at 25 Feb 2010)

*As a percentage of NAV

ASSET ALLOCATION* (as at 25 Feb 2010)

* As percentage of NAV. Asset exposure for the fund is subject to frequent change on a daily basis

PERFORMANCE RECORD Percentage growth of investment made on 28 Feb 2009 at 26 Feb 2010 with dividend reinvested, NAV-NAV basis.

Source: Lipper Hindsight 5.43 on 8/3/10 The value of units may go down as well as up. Past performance is not indicative of future results.

PERFORMANCE TABLE(%) (as at 31 Dec 09)

1-mth 6-mth 1-yr

Fund 0.11 0.84 1.74

Benchmark* 0.16 1.03 2.14

This monthly factsheet is prepared by ING Funds Berhad. It is not intended to be an offer or invitation to subscribe or purchase of units. The information contained herein has been obtained from sources believed in good faith to be reliable. ING Funds Berhad makes no representation as to its accuracy or completeness and ex-pressly disclaims any liability whatsoever for any loss arising from or in reliance upon whole or any part of this document. Expressions of opinion contained in this document are those of ING Funds and its investment managers and the information contained herein is current as at the date of publication. Past performance of funds is not indicative of its future performance and prices can go down as well as up. Investors are advised that following any unit split or distribution declared (if any), the NAV per unit will be reduced from pre-unit split NAV NAV / cum-distribution NAV to post-unit split NAV/ex-distribution NAV. Where a unit splits is declared (if any), investors should note that the value of their investment in Malaysian Ringgit will remain unchanged after the distribution of the additional units. Investment involves risk including a possible loss to the principal amount invested. Principal risks of the Fund are market risk, liquidity risk, interest rate risk and credit/default risk. A A copy of the Master Prospectus incorporating ING OneAnswerTM Investment Funds, ING i -Enhanced Cash and ING Cash Plus dated 23 April 2009 and Supplementary Master Prospectus incorporating ING OneAnswerTM Investment Funds, ING i -Enhanced Cash and ING Cash Plus dated 16 October 2009 have been registered with the Securities Commission, who takes no responsibility for its contents. Investors are advised to read the Prospectus before investing. Application for units can only be made on receipt of a form of application referred to in and accompanying the Master Supplementary Prospectus. Investors should also consider the fees and charges involved. A copy of the Master & Supplementary Master Prospectuses can be obtained from ING Funds office or any of our authorized distributors listed under the corporate directory in the Master Prospectus. The fund may not be suitable for all and if in doubt investors should seek professional advice.

THE FUND IS SUITABLE FOR INVESTORS WHO: Desire a steady stream of income

Have low tolerance of investment risks

Want a highly liquid investment portfolio

Want a low risk fund as part of the asset allocation strategy

Wants pricing stability to ensure preservation of capital

Have short-term investment horizon

MANAGER’S COMMENTS (Review Period: Feb 2010)

For the month of February 2010, the Fund returned 0.11%, underperform-ing benchmark of 0.16% by 0.05%. The underperformance was largely due to cash-drag to the Fund. Scarce short-term Islamic papers continued to limit return enhancement for the Fund. In addition, current Islamic bank placements generate marginally lower rates compared to the conventional placements. The fund's ranking however improved to Quartile 3 from Quar-tile 4 previously. The Fund will continue to source for short-term papers for yield enhancement and return stability.

Unit NAV (at 25 Feb 2010): RM 1.0453

Highest NAV (Since Inception) RM 1.0490

Lowest NAV (Since Inception) RM 1.0000

Fund size (at 25 Feb 2010): RM 67.397mil

Fund Currency Ringgit Malaysia

Fund Inception 2 August 2007

Annual Management Fee Up to 0.75% of NAV of the Fund

Trustee Fee 0.08% of NAV of the Fund or a mini-mum of RM18,000 p.a.

Exit Fee Nil

Maximum Initial Charge Nil

Redemption Payment Period

Next Business day after the redemp-tion request is received by the Man-ager at or before 4pm on a Business Day.

Distribution Policy Income will be distributed annually on a best effort basis, if any.

Investment Manager ING Funds Berhad

Pengurusan Air SPV Bhd 3.0%

Maybank Banking Berhad 1.5%

Cagamas MBS Berhad 4.6%

Rantau Abang Capital Bhd 1.6%

Government of Malaysia 3.1%

1 FD/Cash 82.5%

2 Corporate Bonds 11.4%

3 Malaysian Government Securities

3.1%

4 Commercial Papers 3.0%

* Maybank 1-month General Investment Account (GIA) rate. Source: Lipper Hindsight 5.43 on 8/3/10.

DISTRIBUTION HISTORY (in 2010)

Fund Fact Sheet Mar 2010 Issue I Pg 16

1

23 4

Entitlement date: Distribution Distribution Yield

18 Feb 2010 Net 0.0020 0.20%

18 Jan 2010 Net 0.0020 0.20%

Total Return From 27/02/2009 To 26/02/2010

Per

centa

ge

Gro

wth

-0.25

0.00

0.25

0.50

0.75

1.00

1.25

1.50

1.75

2.00

2.25

04/2009 07/2009 10/2009 01/2010

ING i-Enhanced Cash = 1.74%

Maybank 1 Month GIA-i Tier I rate = 2.14%

Total Return From 27/02/2009 To 26/02/2010

Per

centa

ge

Gro

wth

-0.25

0.00

0.25

0.50

0.75

1.00

1.25

1.50

1.75

2.00

2.25

04/2009 07/2009 10/2009 01/2010

ING i-Enhanced Cash = 1.74%

Maybank 1 Month GIA-i Tier I rate = 2.14%

Page 17: ING Funds Fact Sheets@March 2010

ING FUNDS MAR 2010

FUND DETAILS

PERFORMANCE RECORD Percentage growth of investment made on 28 Feb 2009 at 26 Feb 2010 with dividend reinvested, NAV-NAV basis.

Source: Lipper Hindsight 5.43 on 8/3/10 The value of units may go down as well as up. Past performance is not indicative of future results.

PERFORMANCE TABLE(%) (as at 26 Feb 2010)

1-mth 6-mth 1-yr

Fund 0.07 0.62 1.33

Benchmark* 0.12 0.74 1.51

THE FUND IS SUITABLE FOR INVESTORS WHO: Desire a steady stream of income i.e. monthly income distribution

Have short to medium-term placement horizon

Have low tolerance of market and credit risks

Want a highly liquid fixed income portfolio

Want a low-risk fund as part of the asset allocation strategy

Unit NAV (25 Feb 2010) RM 1.0000

Fund Size (25 Feb 2010) RM 23.786 mil

Fund Currency Ringgit Malaysia

Fund Inception 12 May 2008

Annual Management Fee 0.50% of NAV of the Fund

Trustee Fee 0.04% p.a. of NAV of the Fund or a mini-mum of RM18,000 p.a.

Exit Fee Nil

Maximum Initial Charge Nil

Redemption Payment Period

Same business day after the redemption is received by the Manager before 11:00am on a Business Day. If redemp-tion is received after 11:00am on a Busi-ness Day, the redemption proceed is paid the next Business Day.

Distribution Policy Income will be paid daily on a best effort basis, if any. Income paid (if any) will be reinvested into the Fund.

Investment Manager ING Funds Berhad

*Maybank 1-month FD rate, net of prevailing corporate tax rate. Source: Lipper Hindsight 5.43 on 8/3/10.

SECTOR ALLOCATION* (as at 25 Feb 2010) 1 Short-term money market instruments 100%

* As percentage of NAV. Asset exposure for the fund is subject to frequent change on a daily basis

ING PRINCIPAL PROTECTED INCOME

To provide investors a regular stream of income from the short-term money market returns which is competitive to that offered by fixed deposits, while pre-serving its capital by placing the funds primarily in short-term money market and deposit-based instruments issued by licensed financial institutions with a minim um of RAM A3 or MARC A - ratings which are not subject to market valuations risks. The Fund also provides a high level of liquidity.

This monthly factsheet is prepared by ING Funds Berhad. It is not intended to be an offer or invitation to subscribe or purchase of units. The information contained herein has been obtained from sources believed in good faith to be reliable. ING Funds Berhad makes no representation as to its accuracy or completeness and ex-pressly disclaims any liability whatsoever for any loss arising from or in reliance upon whole or any part of this document. Expressions of opinion contained in this document are those of ING Funds and its investment managers and the information contained herein is current as at the date of publication. Past performance of funds is not indicative of its future performance and prices can go down as well as up. Investment involves risk including a possible loss to the principal amount invested. Principal risk of the Fund are liquidity risk, interest rate risk, market risk, inflation risk and counterparty risk. Investors are advised that following any unit split or distribution declared (if any), the NAV per unit will be reduced from pre-unit split NAV NAV / cum-distribution NAV to post-unit split NAV/ex-distribution NAV. Where a unit splits is declared (if any), investors should note that the value of their investment in Malaysian Ringgit will remain unchanged after the distri-bution of the additional units. A copy of the ING Principal Protected Information Memorandum dated 12 May 2009 has been deposited with the Securities Commission, who takes no responsibility for its contents. Investors are advised to read the Information Memorandum before investing. Application for units can only be made on receipt of a form of application referred to in and accompa-nying the Information Memorandum. Investors should also consider the fees and charges involved. A copy of the Information Memorandum can be obtained from ING Funds office or any of our authorized distributors listed under the corporate directory in the Information Memorandum. ING Principal Protected Income is a wholesale fund which is open to qualified investors only. ‘Qualified investors’ has the same meaning as is assigned to that expression in the ING Principal Protected Income Information Memorandum and in the Guidelines on Wholesale Funds issued by the Securities Commission. The fund may not be suitable for all and if in doubt investors should seek professional advice.

Fund Fact Sheet Mar 2010 Issue I Pg 17

364 Days From 27/02/2009 To 26/02/2010

Per

centa

ge

Gro

wth

-0.25

0.00

0.25

0.50

0.75

1.00

1.25

1.50

1.75

04/09 07/09 10/09 01/10

ING Principal Protected Income = 1.33%

Maybank 1-month FD rate = 1.51%

364 Days From 27/02/2009 To 26/02/2010

Per

centa

ge

Gro

wth

-0.25

0.00

0.25

0.50

0.75

1.00

1.25

1.50

1.75

04/09 07/09 10/09 01/10

ING Principal Protected Income = 1.33%

Maybank 1-month FD rate = 1.51%

Page 18: ING Funds Fact Sheets@March 2010

ING FUNDS MAR 2010 ING STRUCTURED INCOME FUND

The Fund is a 10-year close-ended fund with a call feature which allows the fund to be terminated on or after its 5th year. The fund aims to return the initial invested capital to its capital upon the fund being terminated or upon its ma-turity. The fund also aims to provide an annual coupon of 3.30% per annum for the first 5 years and potentially addi-tional returns based on the performance of a selected basket of indices. The Fund’s call feature will be exercised upon both the Subordinated Medium Terms Notes issued Public Bank Berhad and AmBank (M) Berhad being called. In the event that the call feature at the end of the 5th year is not exer-cised and both the Subordinated Medium Terms Notes issued Public Bank Berhad and AmBank (M) Berhad remain uncalled, the Fund’s annual coupon will be increased and the Fund will aim to provide an annual coupon of 5.30% per annum.

THE FUND IS SUITABLE FOR INVESTORS WHO: Aim to preserve the value of their capital.

Aim to receive an annual coupon payment.

Wish to gain exposure to the returns linked to the performance of a basket of global equities.

Have medium risk tolerance.

MANAGER’S COMMENTS (Review Period: Feb 2010) The fund registered a return of -0.09% for the month of February 2010, underperforming its benchmark which returned 0.19%. The underperfor-mance was mainly due the unfavourable valuation of the fund’s holdings of fixed income instruments and options. The fund continues to deliver capital preservation with potential upside should the market turn positive.

FUND DETAILS Unit NAV (25 Feb 2010) RM 0.9875

Fund Size (25 Feb 2010) RM 329.504 mil

Fund Currency Ringgit Malaysia

Fund Launch 28 October 2009

Annual Management Fee Up to 0.90% of NAV of the Fund for the first 5 years, 0.45% per annum thereafter

Trustee Fee 0.04% of NAV of the Fund

Exit Fee

Made before 30th month: 0.80% of NAV per unit Made on or after the 30th month but before the 60th month: 0.40% of NAV per unit Made on or after the 60th month: Nil.

Maximum Initial Charge 0.30% of NAV per unit

Redemption Payment Period Up to 10 days

Investment Manager ING Funds Berhad

Fund Commencement 10 December 2009

Highest NAV (Since Inception) RM 1.0011

Lowest NAV (Since Inception) RM0.9866

Maturity Payment Period 2 months from Maturity Date

ASSET ALLOCATION* (as at 25 Feb 2010)

* As percentage of NAV. Asset exposure for the fund is subject to frequent change on a daily basis

PERFORMANCE RECORD Percentage growth of investment made on 28 Feb 2009 at 26 Feb 2010 with dividend reinvested, NAV-NAV basis.

PERFORMANCE TABLE (%) (as at 29 Jan 2010)

1-mth 6-mth Since Launch

Fund -0.09 - -1.34

Benchmark* 0.19 - 0.83

1-yr

-

-

*Maybank 12-month GIA rate , Source: Lipper Hindsight 5.43 on 8/3/10

2

1

1 Subordinated Medium Term Notes

98.5%

2 Call Options 1.5%

This monthly factsheet is prepared by ING Funds Berhad. It is not intended to be an offer or invitation to subscribe or purchase of units. The information contained herein has been obtained from sources believed in good faith to be reliable, however, no guarantee is given in its accuracy or completeness. ING Funds Berhad makes no representation as to its accuracy or completeness and expressly disclaims any liability whatsoever for any loss arising from or in reliance upon whole or any part of this docu-ment. Expressions of opinion contained in this document are those of ING Funds and its investment managers and the information contained herein is current as at the date of publication. It should not be construed as an offer or a solicitation of an offer to purchase or subscribe or to sell units. Past performance of funds is not indicative of its future performance. The price of units and distribution payable, if any, may go down as well as up. No units are available for subscription because the offer period for ING Structured Income Fund was 28 October 2009 – 26 November 2009. The Maturity Date of the Fund is on the 5th Anniversary of the Fund which is expected to be 10 December 2019. Investment involves risk including a possible loss to the principal amount invested. Principal risks of the Fund are currency risk, credit risk, liquidity risk, early termination risk, option risk, interest rate risk, country risk, concentration risk and downgrade risk of issuers. A copy of the ING Structured Income Fund Information Memorandum dated 28 October 2009 has been deposited with Securities Commission, who takes no responsibility for its contents. A copy of the Information Memorandum can be obtained from ING Funds office or any of our authorized distributors listed under the corporate directory of the Information Memorandum. If investors are in doubt about the information provided, investors should seek professional advice.

Fund Fact Sheet Mar 2010 Issue I Pg 18

There is no performance as this fund is less than one year.

Page 19: ING Funds Fact Sheets@March 2010

ING FUNDS MAR 2010

ING INCOME PLUS (a fund under ING OneAnswerTM)

To provide investors with a regular income stream through investments in bonds and money market instruments.

FUND DETAILS

LARGEST HOLDINGS* (as at 25 Feb 2010)

*As a percentage of NAV

FUND ANALYSIS (28 Feb 2009 – 26 Feb 2010)

Beta Annualized Alpha

Annualized Sharpe Ratio**

Annualized Volatility

Fund 1.31 1.52 0.42 1.57

Benchmark* 1.00 - -0.60 1.10

SECTOR ALLOCATION* (as at 25 Feb 2010)

* As percentage of NAV. Asset exposure for the fund is subject to frequent change on a daily basis

PERFORMANCE RECORD Percentage growth of investment made on 26 Feb 2010 at 26 Feb 2010 with dividend reinvested, NAV-NAV basis.

Source: Lipper Hindsight 5.433 on 8/3/10 The value of units may go down as well as up. Past performance is not indicative of future results.

PERFORMANCE TABLE (%) (as at 26 Feb 2010) 1-mth 6-mth 3-yr

Fund 0.15 2.04 6.93

Benchmark* 0.08 1.25 11.49

1-yr

3.17

1.82

Maybank 12-mth FD

0.19 1.23 2.49 10.11

5-yr

20.43

23.32

18.53

THE FUND IS SUITABLE FOR INVESTORS WHO: Seek regular income.

Have low to moderate risk tolerance.

Have short to medium investment horizon

MANAGER’S COMMENTS (Review Period: Feb 2010)

For the month of February 2010, the Fund recorded 0.15%, outper-forming the official benchmark MGS (Malaysian Government Securi-ties) All Index of 0.08% by 0.07%. Holdings in banking papers contin-ued to contribute positive to the Fund performance. The Fund return was however, dragged by high cash position on the back of signifi-cant inflows to the Fund. We will continue to overweight corporate bonds for yield enhancement in view of improving credit outlook as economy continues to chart recovery.

Unit NAV (25 Feb 2010) RM 0.5882

Highest NAV (Since Inception) RM 0.5883

Lowest NAV (Since Inception) RM0.4903

Fund size (at 25 Feb 2010) RM 64.091 mil

Fund Currency Ringgit Malaysia

Fund Inception 23 April 2004

Annual Management Fee 1.00% of NAV of the Fund

Trustee Fee 0.07% of the NAV of the Fund or a minimum of RM18,000 p.a.

Exit Fee Nil

Maximum Initial Charge Cash: 1.5% of NAV per unit EPF: 1.5% of NAV per unit

Redemption Payment Period Up to 10 days

Distribution Policy Income will be distributed twice a year on a best effort basis, if any.

Investment Manager ING Funds Berhad

1 Corporate Bonds 53.8% 2 FD/Cash 29.1% 3 Commercial Papers 16.3%

4 Malaysian Government Securities

0.8%

*All MGS Index by RAM Quantshop. Source: Lipper Hindsight 5.43 on 8/3/10

Danga Capital Bhd 7.4%

Rantau Abang Capital Bhd 6.5% DIGI Telecommunication Sdh Bhd

6.3%

Sabah Development Bank Bhd 6.3%

Titisan Modal Sdn Bhd 5.4%

*All MGS Index by RAM Quantshop. ** Risk-free rate: Maybank 12-mth FD rate. Source: Lipper Hindsight 5.43 on 8/3/10

(1) Based on the fund’s portfolio returns as at 15 Mar 2010, the Volatility Factor (VF) for this fund is 3.03 and is classified as “Very Low”. (source: Lipper) “Very Low” includes funds with VF that are 0 and less than or equal to 4.73 (source: Lipper). The VF means there is a possibility for the fund in generating an upside return or downside return around this VF. The Volatil-ity Class (VC) is assigned by Lipper based on quintile ranks of VF for qualified funds. VF is subject to monthly revision and VC will be revised every six months. The fund’s portfolio may have changed since this date and there is no guarantee that the fund will continue to have the same VF or VC in the future. Presently, only funds launched in the market for at least 36 months will display the VF and its VC.

This monthly factsheet is prepared by ING Funds Berhad. It is not intended to be an offer or invitation to subscribe or purchase of units. The information contained herein has been obtained from sources believed in good faith to be reliable. ING Funds Berhad makes no representation as to its accuracy or completeness and expressly disclaims any liability whatsoever for any loss arising from or in reliance upon whole or any part of this document. Expressions of opinion contained in this document are those of ING Funds and its investment managers and the information contained herein is current as at the date of publication. Past performance of funds is not indicative of its future performance. The price of units and distribution payable, if any, may go down as well as up. Investment involves risk including a possible loss to the principal amount invested. Principal risks of the Fund are market risk, interest rate risk, liquidity risk, reinvestment risk, credit/default risk and counterparty risk. A copy of the Master Prospectus incorporating, ING OneAnswerTM Investment Funds, ING i -Enhanced Cash and ING Cash Plus dated 23 April 2009 and Supplementary Master Prospectus incorporating ING OneAnswerTM Investment Funds, ING i -Enhanced Cash and ING Cash Plus dated 16 October 2009 have been registered with the Securities Commission, who takes no responsibility for its contents. Investors are advised to read the Prospectus before investing. Application for units can only be made on receipt of a form of application referred to in and accompanying the Master Supplementary Prospectus. Investors should also consider the fees and charges involved. A copy of the Master & Supplementary Master Prospectuses can be obtained from ING Funds office or any of our authorized distributors listed under the corporate directory of the Master Prospectus. The fund may not be suitable for all and if in doubt investors should seek professional advice.

(1)

Fund Fact Sheet Mar 2010 Issue I Pg 19

1

2

3 4

Total Return From 27/02/2009 To 26/02/2010

Per

centa

ge

Gro

wth

-3

-2

-1

0

1

2

3

4

04/09 07/09 10/09 01/10

ING Income Plus = 3.2%

Maybank 12 Months FD Rate = 2.5%

All MGS Index = 1.8%

Total Return From 27/02/2009 To 26/02/2010

Per

centa

ge

Gro

wth

-3

-2

-1

0

1

2

3

4

04/09 07/09 10/09 01/10

ING Income Plus = 3.2%

Maybank 12 Months FD Rate = 2.5%

All MGS Index = 1.8%

Lipper Analytics

15 Mar 10

3-year Fund Volatility

Page 20: ING Funds Fact Sheets@March 2010

ING FUNDS MAR 2010

ING BON ISLAM (a fund under ING OneAnswerTM)

To aims to provide investors with regular income stream through investments in Islamic bonds and Islamic money market instruments.

FUND DETAILS

LARGEST HOLDINGS* (as at 25 Feb 2010)

*As a percentage of NAV

FUND ANALYSIS (28 Feb 2009 – 26 Feb 2010) Beta Annualized

Alpha Annualized

Sharpe Ratio**

Annualized Volatility

Fund 0.20 0.73 1.07 0.58

Benchmark* 1.00 - -0.6 1.1

SECTOR ALLOCATION* (as at 25 Feb 2010)

* As percentage of NAV. Asset exposure for the fund is subject to fre-quent change on a daily basis

PERFORMANCE RECORD Percentage growth of investment made on 26 Feb 2010 at 26 Feb 2010 with dividend reinvested, NAV-NAV basis.

Source: Lipper Hindsight 5.433 on 8/3/10 The value of units may go down as well as up. Past performance is not indicative of future results.

PERFORMANCE TABLE(%) (as at 26 Feb 2010)

1-mth 6-mth 3-yr

Fund -0.02 1.20 8.75

Benchmark* 0.08 1.25 11.49

1-yr

3.11

1.82

5-yr

22.29

23.32

* All MGS Index by RAM Quantshop, **Risk-free rate: Maybank 12-mth FD rate. Source: Lipper Hindsight 5.43 on 8/3/10

THE FUND IS SUITABLE FOR INVESTORS WHO: Seek regular income stream from Islamic bonds.

Have low to moderate risk tolerance.

Have short to medium-term investment horizon.

MANAGER’S COMMENTS (Review Period: Feb 2010)

For the month of February 2010, the Fund recorded -0.02%, under-performing the official benchmark MGS (Malaysian Government Se-curities) All Index of 0.08% by 0.10%. Small fund size with odd-lot corporate bond positions continued to pose challenges to enhance performance of the Fund. Having said that, holding in corporate bond continued to provide cushion to the fund performance. We will con-tinue to look for opportunities to enhance returns while adopt a slight underweight duration strategy.

Unit NAV (at 25 Feb 2010): RM 0.6304

Fund size (at 25 Feb 2010): RM 3.161mil

Fund Currency Ringgit Malaysia

Fund Inception 23 April 2004

Annual Management Fee 1.00% of NAV of the Fund

Trustee Fee 0.07% of NAV of the Fund or a minimum of RM18,000 p.a.

Exit Fee Nil

Maximum Initial Charge Cash: 1.5% of NAV per unit EPF: 1.5% of NAV per unit

Redemption Payment Period Up to 10 days

Investment Manager ING Funds Berhad

Distribution Policy Income will be distributed twice a year on best effort basis, if any.

Highest NAV (Since Inception) RM 0.6314

Lowest NAV (Since Inception) RM 0.4893

Konsortium Lebuhraya Utara-Timur (KL) Sdn Bhd

12.4%

Rantau Abang Capital Bhd 10.9%

Segari Energy Ventures 9.5%

Malakoff Corporation Berhad 9.2%

Sime Darby Berhad 9.1%

* All MGS Index by RAM Quantshop. Source: Lipper Hindsight 5.43 on 8/3/10

1 Sukuk 83.8%

2 FD/Cash 16.2%

(1) Based on the fund’s portfolio returns as at 15 Mar 2010, the Volatility Factor (VF) for this fund is 1.68 and is classified as “Very Low”. (source: Lipper) “Very Low” includes funds with VF that are 0 and less than or equal to 4.73 (source: Lipper). The VF means there is a possibility for the fund in generating an upside return or downside return around this VF. The Volatility Class (VC) is assigned by Lipper based on quintile ranks of VF for qualified funds. VF is subject to monthly revision and VC will be revised every six months. The fund’s portfolio may have changed since this date and there is no guarantee that the fund will continue to have the same VF or VC in the future. Presently, only funds launched in the market for at least 36 months will display the VF and its VC.

This monthly factsheet is prepared by ING Funds Berhad. It is not intended to be an offer or invitation to subscribe or purchase of units. The information contained herein has been obtained from sources believed in good faith to be reliable. ING Funds Berhad makes no representation as to its accuracy or completeness and expressly disclaims any liability whatsoever for any loss arising from or in reliance upon whole or any part of this document. Expressions of opinion contained in this document are those of ING Funds and its investment managers and the information contained herein is current as at the date of publication. Past performance of funds is not indicative of its future performance. The price of units and distribution payable, if any, may go down as well as up. Investment involves risk including a possible loss to the principal amount invested. Principal risks of the Fund are interest rate risk, liquidity risk, reinvestment risk, credit/default risk and counterparty risk. A copy of the Master Prospectus incorporating ING OneAnswerTM Investment Funds, ING i -Enhanced Cash and ING Cash Plus dated 23 April 2009 and Supplementary Master Prospectus incorporating ING OneAnswerTM Investment Funds, ING i -Enhanced Cash and ING Cash Plus dated 16 October 2009 2009 have been regis-tered with the Securities Commission, who takes no responsibility for its contents. Investors are advised to read the Prospectus before investing. Application for units can only be made on receipt of a form of application referred to in and accompanying the Master Supplementary Prospectus. Investors should also consider the fees and charges involved. A copy of the Master & Supplementary Master Prospectuses can be obtained from ING Funds office or any of our authorized distributors listed under the corporate directory in the Master Prospectus. The fund may not be suitable for all and if in doubt investors should seek professional advice.

Fund Fact Sheet Mar 2010 Issue I Pg 20

(1)

1

2

Total Return From 27/02/2009 To 26/02/2010

Perc

enta

ge

Gro

wth

-3

-2

-1

0

1

2

3

4

04/09 07/09 10/09 01/10

ING Bon Islam = 3.1%

All MGS Index = 1.8%

Total Return From 27/02/2009 To 26/02/2010

Perc

enta

ge

Gro

wth

-3

-2

-1

0

1

2

3

4

04/09 07/09 10/09 01/10

ING Bon Islam = 3.1%

All MGS Index = 1.8%

Lipper Analytics

15 Mar 10

3-year Fund Volatility

Page 21: ING Funds Fact Sheets@March 2010

ING FUNDS MAR 2010

ING MANAGED GROWTH (a fund under ING OneAnswerTM)

To achieve long-term capital growth through diversified investments in equities and bonds.

THE FUND IS SUITABLE FOR INVESTORS WHO: Seek a combination of both capital appreciation with income distribu-

tion.

Have moderate risk tolerance and can withstand short-term volatility.

Have medium to long-term investment horizon.

MANAGER’S COMMENTS (Review Period: Feb 2010)

The portfolio underperformed its benchmark by -0.30% in the month of February, gaining +0.21% versus it benchmark return of 0.51%. The un-derperformance was due to its overweight position in consumer services and telecommunication sectors. The weak stock selection within the finan-cials and consumer services dragged the fund’s performance further down. However, the fund managed to capitalize on the recovery rally approaching the tail end of the month by buying into industrial and basis materials. For the fixed income portion, we continue to overweight corpo-rate bonds for yield enhancement and adopt slight underweight duration strategy

FUND DETAILS

Unit NAV (at 25 Feb 2010) RM 0.6194

Highest NAV (Since Inception) RM 0.6955

Lowest NAV (Since Inception) RM 0.4677

Fund size (at 25 Feb 2010): RM 28.809 mil

Fund Currency Ringgit Malaysia

Fund Inception 23 April 2004

Annual Management Fee 1.55% of NAV of the Fund

Trustee Fee 0.07% of NAV of the Fund or a minimum of RM18,000 p.a.

Exit Fee Nil

Maximum Initial Charge Cash: 6.5% of NAV per unit EPF: 3.0% of NAV per unit

Redemption Payment Period Up to 10 days

Distribution Policy Income will be distributed annually on a best effort basis, if any.

Investment Manager ING Funds Berhad

LARGEST HOLDINGS* (as at 25 Feb 2010) Konsortium Lebuhraya Utara-Timur(KL)Sdn Bhd

7.4%

Government of Malaysia 6.6%

Bumiputra-Commerce Bank Bhd 5.8%

Sime Darby Berhad 4.9%

Malakoff Corporation Berhad 4.9%

*As a percentage of NAV FUND ANALYSIS (28 Feb 2009 – 26 Feb 2010) Beta Annualized

Alpha Annualized

Sharpe Ratio**

Annualized Volatility

Fund 0.46 3.16 2.88 3.91

Benchmark* - - 2.21 8.10

* FTSE Bursa Malaysia Top 100 (50%) & All MGS Index by RAM Quant Shop (50%), ** Risk-free rate: Maybank 12-mth FD rate, Source: Lipper Hindsight 5.43 on 8/3/10.

SECTOR ALLOCATION* (as at 25 Feb 2010)

* As percentage of NAV. Asset exposure for the fund is subject to frequent change on a daily basis

PERFORMANCE RECORD Percentage growth of investment made on 28 Feb 2009 at 26 Feb 2010 with dividend reinvested, NAV-NAV basis.

Source: Lipper Hindsight 5.43 on 8/3/10 The value of units may go down as well as up. Past performance is not indica-tive of future results.

PERFORMANCE TABLE (%) (as at 26 Feb 2010)

1-mth 6-mth 1-yr 3-yr

Fund 0.21 5.06 14.52 9.70

Benchmark* 0.51 4.64 21.96 10.48

5-yr

33.70

33.23

*FTSE Bursa Malaysia Top 100 Index (50%) & All MGS Index by RAM Quant Shop (50%) . Source: Lipper Hindsight 5.43 on 8/3/10.

1 Corporate Bonds 28.8% 2 Finance 21.3% 3 Trading & Services 18.7% 4 FD/Cash 9.9%

5 Malaysian Government Secu-rities 6.6%

6 Plantations 5.8% 7 Construction 3.3% 8 Consumer 2.2% 9 Infrastructure 1.9% 10 Properties 1.1% 11 Technology 0.4%

(1) Based on the fund’s portfolio returns as at 15 Mar 2010, the Volatility Factor (VF) for this fund is 8.99 and is classified as “Low”. (source: Lipper) “Low” includes funds with VF that are above 4.73 and less than or equal to 12.31 (source: Lipper). The VF means there is a possibility for the fund in generating an upside return or downside return around this VF. The Volatility Class (VC) is assigned by Lipper based on quintile ranks of VF for qualified funds. VF is subject to monthly revision and VC will be revised every six months. The fund’s portfolio may have changed since this date and there is no guarantee that the fund will continue to have the same VF or VC in the future. Presently, only funds launched in the market for at least 36 months will display the VF and its VC.

This monthly factsheet is prepared by ING Funds Berhad. It is not intended to be an offer or invitation to subscribe or purchase of units. The information contained herein has been obtained from sources believed in good faith to be reliable. ING Funds Berhad makes no representation as to its accuracy or completeness and ex-pressly disclaims any liability whatsoever for any loss arising from or in reliance upon whole or any part of this document. Expressions of opinion contained in this document are those of ING Funds and its investment managers and the information contained herein is current as at the date of publication. Past performance of funds is not indicative of its future performance. The price of units and distribution payable, if any, may go down as well as up. Investment involves risk including a possible loss to the principal amount invested. The principal risks of the fund are stock-specific risk, market risk, liquidity risk, reinvestment risk, credit/default risk, interest rate risk and counterparty risk. A copy of the Master Prospectus incorporating, ING OneAnswerTM Investment Funds, ING i -Enhanced Cash and ING Cash Plus dated 23 April 2009 and Supplementary Master Prospectus incorporating ING OneAnswerTM Investment Funds, ING i -Enhanced Cash and ING Cash Plus dated 16 October 2009 have been registered with the Securities Commission, who takes no responsibility for its contents. Investors are advised to read the Prospectus before invest-ing. Application for units can only be made on receipt of a form of application referred to in and accompanying the Master Supplementary Prospectus. Investors should also consider the fees and charges involved. A copy of the Master & Supplementary Master Prospectuses can be obtained from ING Funds office or any of our authorized distributors listed under the corporate directory of the Master Prospectus. The fund may not be suitable for all and if in doubt investors should seek professional advice.

Fund Fact Sheet Mar 2010 Issue I Pg 21

5

67 8 9

10 11

1

23

4

(1)

Total Return From 27/02/2009 To 26/02/2010

Per

centa

ge

Gro

wth

-5.0

-2.5

0.0

2.5

5.0

7.5

10.0

12.5

15.0

17.5

20.0

22.5

25.0

04/09 07/09 10/09 01/10

ING Managed Growth = 14.5%

FTSE Bursa Malaysia Top 100 (50%) + All MGS Index (50%) = 22.0%

Total Return From 27/02/2009 To 26/02/2010

Per

centa

ge

Gro

wth

-5.0

-2.5

0.0

2.5

5.0

7.5

10.0

12.5

15.0

17.5

20.0

22.5

25.0

04/09 07/09 10/09 01/10

ING Managed Growth = 14.5%

FTSE Bursa Malaysia Top 100 (50%) + All MGS Index (50%) = 22.0%

Lipper Analytics

15 Mar 10

3-year Fund Volatility

Page 22: ING Funds Fact Sheets@March 2010

ING FUNDS MAR 2010

ING DIVERSIFIED (a fund under ING OneAnswerTM)

To provide investors capital appreciation with stability of income over a medium to long-term investment horizon from a diversified investment portfolio.

FUND DETAILS

LARGEST HOLDINGS* (as at 25 Feb 2010)

*As a percentage of NAV

FUND ANALYSIS (28 Feb 2009 – 26 Feb 2010) Beta Annualized

Alpha Annualized

Sharpe Ratio**

Annualized Volatility

Fund 0.61 -0.97 1.93 5.75

Benchmark* - - 2.23 9.01

SECTOR ALLOCATION* (as at 25 Feb 2010)

* As percentage of NAV. Asset exposure for the fund is subject to frequent change on a daily basis

PERFORMANCE RECORD Percentage growth of investment made on 28 Feb 2009 at 26 Feb 2010 with dividend reinvested, NAV-NAV basis.

Source: Lipper Hindsight 5.43 on 8/3/10 The value of units may go down as well as up. Past performance is not indicative of future results.

PERFORMANCE TABLE (%) (as at 26 Feb 2010)

1-mth 6-mth 1-yr 3-yr

Fund -0.15 4.06 14.29 -7.81

Benchmark* 0.60 4.97 24.48 9.47

5-yr

11.68

31.50

THE FUND IS SUITABLE FOR INVESTORS WHO: Seek a combination of capital appreciation with a modest level of

income.

Have moderate risk tolerance and can withstand short-term volatility.

Have medium to long-term investment horizon.

MANAGER’S COMMENTS (Review Period: Feb 2010)

The portfolio underperformed its benchmark by -0.75% in the month of February, was down -0.15% versus it benchmark return of 0.60%. The underperformance was due to its overweight position in consumer services and technology sectors. The slight underweight exposure among the oil & gas and utilities sectors eroded the performance further. On the positive side, the fund gained positive alpha through underweight call in health care, basic materials and industrials sectors. For the fixed income portion, we continue to overweight corporate bonds for yield enhancement.

Unit NAV (at 25 Feb 2010): RM 0.5448

Fund size (at 25 Feb 2010): RM 4.772 mil

Fund Currency Ringgit Malaysia

Fund Inception 23 April 2004

Annual Management Fee 1.55% of NAV of the Fund

Trustee Fee 0.07% of NAV of the Fund or a mini-mum of RM18,000 p.a.

Exit Fee Nil

Maximum Initial Charge Cash: 6.5% of NAV per unit EPF: 3.0% of NAV per unit

Redemption Payment Period Up to 10 days

Investment Manager ING Funds Berhad

Distribution Policy Income will be distributed annually on a best effort basis, if any.

Highest NAV (Since Inception) RM 0.6709

Lowest NAV (Since Inception) RM 0.4553

YTL Power Internationl 8.8%

Bumiputra-Commerce Bank Bhd 6.0%

Government of Malaysia 5.4%

Maybank Banking Berhad 5.3% Public Bank Bhd 5.0%

* FTSE Bursa Malaysia Top 100 Index (55%) & Maybank 12-month FD rate (45%), **Risk-free rate: Maybank 12-mth FD rate. Source: Lipper Hindsight 5.43 on 8/3/10.

* FTSE Bursa Malaysia Top 100 Index (55%) & Maybank 12-month FD rate (45%). Source: Lipper Hindsight 5.43 on 8/3/10.

1 FD/Cash 24.4% 2 Finance 21.5% 3 Trading & Services 19.3% 4 Corporate Bonds 14.1% 5 Plantations 6.6%

6 Malaysian Government Securities 5.4%

7 Construction 3.4% 8 Consumer 1.8% 9 Properties 1.3%

10 Technology 1.2% 11 Infrastructure 1.0%

(1) Based on the fund’s portfolio returns as at 15 Mar 2010, the Volatility Factor (VF) for this fund is 10.60 and is classified as “Low”. (source: Lipper) “Low” includes funds with VF that are above 4.73 and less than or equal to 12.31 (source: Lipper). The VF means there is a possibility for the fund in generating an upside return or downside return around this VF. The Volatility Class (VC) is assigned by Lipper based on quintile ranks of VF for qualified funds. VF is subject to monthly revision and VC will be revised every six months. The fund’s portfolio may have changed since this date and there is no guarantee that the fund will continue to have the same VF or VC in the future. Presently, only funds launched in the market for at least 36 months will display the VF and its VC. This monthly factsheet is prepared by ING Funds Berhad. It is not intended to be an offer or invitation to subscribe or purchase of units. The information contained herein has been obtained from sources believed in good faith to be reliable. ING Funds Berhad makes no representation as to its accuracy or completeness and ex-pressly disclaims any liability whatsoever for any loss arising from or in reliance upon whole or any part of this document. Expressions of opinion contained in this document are those of ING Funds and its investment managers and the information contained herein is current as at the date of publication. Past performance of funds is not indicative of its future performance. The price of units and distribution payable, if any, may go down as well as up. Investment involves risk including a possible loss to the principal amount invested. Principal risks of the fund are market risk, interest rate risk, credit/default risk, liquidity risk, reinvestment risk and counterparty risk. A copy of the Master Prospectus incorporating, ING OneAnswerTM Investment Funds, ING i -Enhanced Cash and ING Cash Plus dated 23 April 2009 and Supplementary Master Prospectus incorporating ING OneAnswerTM Investment Funds, ING i -Enhanced Cash and ING Cash Plus dated 16 October 2009 have been registered with the Securities Commission, who takes no responsibility for its contents. Investors are advised to read the Prospectus before investing. Application for units can only be made on receipt of a form of application referred to in and accompanying the Master Supplementary Prospectus. Investors should also consider the fees and charges involved. A copy of the Master & Supplementary Master Prospectuses can be obtained from ING Funds office or any of our authorized distributors listed under the corporate directory of the Master Pro-spectus. The fund may not be suitable for all and if in doubt investors should seek professional advice.

Fund Fact Sheet Mar 2010 Issue I Pg 22

5

67 89

10 11

1

2

3

4

(1)

Total Return From 27/02/2009 To 26/02/2010

Per

centa

ge

Gro

wth

-5

0

5

10

15

20

25

30

04/09 07/09 10/09 01/10

ING Diversified = 14.3%

FTSE Bursa Malaysia Top 100 Index (55%) + Maybank 12-mth FD Rate (45%) = 24.5%

Total Return From 27/02/2009 To 26/02/2010

Per

centa

ge

Gro

wth

-5

0

5

10

15

20

25

30

04/09 07/09 10/09 01/1004/09 07/09 10/09 01/10

ING Diversified = 14.3%

FTSE Bursa Malaysia Top 100 Index (55%) + Maybank 12-mth FD Rate (45%) = 24.5%

Lipper Analytics

15 Mar 10

3-year Fund Volatility

Page 23: ING Funds Fact Sheets@March 2010

ING FUNDS MAR 2010

ING SHARIAH BALANCED (a fund under ING OneAnswerTM)

To achieve long-term capital growth through diversified investment in equities, fixed income and money market instruments which are Shariah-compliant.

FUND DETAILS

LARGEST HOLDINGS* (as at 25 Feb 2010)

ING i-Enhanced Cash 9.6%

Tenaga National Bhd 3.6%

IOI Corporation Bhd 2.9%

Axiata Group Berhad 2.6%

Sime Darby Berhad 2.6%

*As a percentage of NAV FUND ANALYSIS (28 Feb 2009 – 26 Feb 2010) Beta Annualized

Alpha Annualized

Sharpe Ratio**

Annualized Volatility

Fund 0.39 0.58 1.53 4.62

Benchmark* - - 2.21 7.79

* FTSE Bursa Malaysia Shariah Emas Index (50%) & MGS Medium Index by RAM Quant Shop (50%), ** Risk-free rate: Maybank 12-mth FD rate. Source: Lipper Hindsight 5.43 on 8/3/10.

SECTOR ALLOCATION* (as at 25 Feb 2010)

* As percentage of NAV. Asset exposure for the fund is subject to frequent change on a daily basis

PERFORMANCE RECORD Percentage growth of investment made on 28 Feb 2009 at 26 Feb 2010 with dividend reinvested, NAV-NAV basis.

Source: Lipper Hindsight 5.43 on 8/3/10 The value of units may go down as well as up. Past performance is not indicative of future results.

PERFORMANCE TABLE (%) (as at 26 Feb 2010)

1-mth 6-mth 1-yr 3-yr

Fund 0.32 2.42 9.86 2.15

Benchmark* 1.05 3.59 21.17 14.31

5-yr

20.50

36.63

* FTSE Bursa Malaysia Shariah Emas Index (50%) & Government Investment Issue (3-7 years) by RAM Quant Shop (50%) . Source: Lipper Hindsight 5.43 on 8/3/10

THE FUND IS SUITABLE FOR INVESTORS WHO: Seeking Shariah-compliant returns from a fund which has potentially

lower volatility compared to an equity fund.

Have medium to long-term investment horizon.

MANAGER’S COMMENTS (Review Period: Feb 2010) In February 2010, the Fund underperformed the benchmark. This was attributable to negative alpha from both the stock selection and asset allo-cation. The underperformance was due to its overweight position in cash and technology as well as underweight position in telecommunication; partially offset by underweight position in industrial and utilities. Due to small fund size, investment in fixed income instruments is not viable.

Unit NAV (25 Feb 2010) RM 0.5918

Fund Size (25 Feb 2010) RM 4.617mil

Fund Currency Ringgit Malaysia

Fund Inception 23 April 2004

Annual Management Fee 1.55% of NAV of the Fund

Trustee Fee 0.07% of NAV of the Fund or a mini-mum of RM18,000 p.a.

Exit Fee Nil

Maximum Initial Charge Cash: 6.5% of NAV per unit EPF: 3.0% of NAV per unit

Redemption Payment Period Up to 10 days

Investment Manager ING Funds Berhad

Distribution Policy Income as secondary objective, if any, is paid annually.

Highest NAV (Since Inception) RM 0.6892

Lowest NAV (Since Inception) RM 0.4610

1 FD/Cash 49.7% 2 Trading & Services 14.4%

3 Collective Investment Scheme 9.6%

4 Plantations 8.9% 5 Industrial Products 4.7% 6 Construction 3.5% 7 Consumer 2.9% 8 Properties 2.2% 9 Infrastructure 2.1%

10 Technology 2.0%

(1) Based on the fund’s portfolio returns as at 15 Mar 2010, the Volatility Factor (VF) for this fund is 8.11 and is classified as “Low”. (source: Lipper) “Low” includes funds with VF that are above 4.73 and less than or equal to 12.31 (source: Lipper). The VF means there is a possibility for the fund in generating an upside return or downside return around this VF. The Volatility Class (VC) is assigned by Lipper based on quintile ranks of VF for qualified funds. VF is subject to monthly revision and VC will be revised every six months. The fund’s portfolio may have changed since this date and there is no guarantee that the fund will continue to have the same VF or VC in the future. Presently, only funds launched in the market for at least 36 months will display the VF and its VC. This monthly factsheet is prepared by ING Funds Berhad. It is not intended to be an offer or invitation to subscribe or purchase of units. The information contained herein has been obtained from sources believed in good faith to be reliable. ING Funds Berhad makes no representation as to its accuracy or completeness and ex-pressly disclaims any liability whatsoever for any loss arising from or in reliance upon whole or any part of this document. Expressions of opinion contained in this document are those of ING Funds and its investment managers and the information contained herein is current as at the date of publication. Past performance of funds is not indicative of its future performance. The price of units and distribution payable, if any, may go down as well as up. Investment involves risk including a possible loss to the principal amount invested. Principal risks of the fund are market risk, interest rate risk, credit/default risk, reinvestment risk, counterparty risk and reclassification of Shariah status risk. A copy of the Master Prospectus incorporating, ING OneAnswerTM Investment Funds, ING i -Enhanced Cash and ING Cash Plus dated 23 April 2009 and Supplementary Master Prospectus incorporating ING OneAnswerTM Investment Funds, ING i -Enhanced Cash and ING Cash Plus dated 16 October 2009 have been registered with the Securities Commission, who takes no responsibility for its contents. Investors are advised to read the Prospectus before invest-ing. Application for units can only be made on receipt of a form of application referred to in and accompanying the Master Supplementary Prospectus. Investors should also consider the fees and charges involved. A copy of the Master & Supplementary Master Prospectuses can be obtained from ING Funds office or any of our authorized distributors listed under the corporate directory of the Master Prospectus. The fund may not be suitable for all and if in doubt investors should seek professional advice.

Fund Fact Sheet Mar 2010 Issue I Pg 23

56

78 910

1

2

3

4

(1)

Total Return From 27/02/2009 To 26/02/2010

Per

centa

ge

Gro

wth

-5.0

-2.5

0.0

2.5

5.0

7.5

10.0

12.5

15.0

17.5

20.0

22.5

25.0

04/09 07/09 10/09 01/10

ING Shariah Balanced = 9.9%

Government Investment Issue (3-7 years) Index = 21.2%

Total Return From 27/02/2009 To 26/02/2010

Per

centa

ge

Gro

wth

-5.0

-2.5

0.0

2.5

5.0

7.5

10.0

12.5

15.0

17.5

20.0

22.5

25.0

04/09 07/09 10/09 01/10

ING Shariah Balanced = 9.9%

Government Investment Issue (3-7 years) Index = 21.2%

Lipper Analytics

15 Mar 10

3-year Fund Volatility

Page 24: ING Funds Fact Sheets@March 2010

ING FUNDS MAR 2010 ING BLUE CHIP (a fund under ING OneAnswerTM)

To achieve long-term capital growth through investments in companies that have relatively larger market capitalization.

THE FUND IS SUITABLE FOR INVESTORS WHO: Seek high capital appreciation.

Have moderate to high-risk tolerance and can withstand significant short-term volatilities

Have medium to long term investment horizon.

MANAGER’S COMMENTS (Review Period: Feb 2010) The portfolio underperformed its benchmark by -0.81% in the month of February, gaining +0.13% versus it benchmark return of 0.92%. The un-derperformance was due to its weak stock selection in financials and consumer goods sector, as the fund had an overweight position in both the sectors which registered lower returns. The underinvestment in tele-communication and oil & gas also caused the fund to underperform when the equity market staged a recovery rally toward the end of the month. The negative alpha was partially mitigated by buying into the cyclical sec-tors such as technology and its underweight exposure in utilities.

FUND DETAILS Unit NAV (at 25 Feb 2010) RM 0.4787

Highest NAV (Since Inception) RM 0.7839

Lowest NAV (Since Inception) RM 0.3573

Fund size (at 25 Feb 2010): RM 47.252 mil

Fund Currency Ringgit Malaysia

Fund Inception 23 April 2004

Annual Management Fee 1.55% of NAV of the Fund

Trustee Fee 0.07% of NAV of the Fund or a mini-mum of RM18,000 p.a.

Exit Fee Nil

Maximum Initial Charge Cash: 6.5% of NAV per unit EPF: 3.0% of NAV per unit

Redemption Payment Period Up to 10 days

Distribution Policy Income will be distributed annually on a best effort basis, if any.

Investment Manager ING Funds Berhad

LARGEST HOLDINGS* (as at 25 Feb 2010) Bumiputra-Commerce Bank Bhd 9.8%

Public Bank Bhd 8.8%

Sime Darby Berhad 8.2%

Malayan Banking Bhd 7.2%

Axiata Group Berhad 5.3%

*As a percentage of NAV

FUND ANALYSIS (28 Feb 2009 – 26 Feb 2010) Beta Annualized

Alpha Annualized

Sharpe Ratio**

Annualized Volatility

Fund 0.53 3.98 2.63 8.41

Benchmark* 1.00 - 2.26 15.45

* FTSE Bursa Malaysia Top 100 Index. , **Risk-free rate: Maybank 12-mth FD rate. Source: Lipper Hindsight 5.43 on 8/3/10

SECTOR ALLOCATION* (as at 25 Feb 2010) 1 Finance 35.7%

2 Trading & Services 29.7%

3 Plantations 10.7%

4 FD/Cash 9.2%

5 Construction 4.1%

6 Consumer 3.6%

7 Infrastructure 3.6%

8 Properties 2.8%

9 Technology 0.6%

* As percentage of NAV. Asset exposure for the fund is subject to frequent change on a daily basis

PERFORMANCE RECORD Percentage growth of investment made on 28 Feb 2009 at 26 Feb 2010 with dividend reinvested, NAV-NAV basis.

Source: Lipper Hindsight 5.43 on 8/3/10 The value of units may go down as well as up. Past performance is not indicative of future results.

PERFORMANCE TABLE (%) (as at 26 Feb 2010)

1-mth 6-mth 3yr

Fund 0.13 7.03 13.56

Benchmark* 0.92 8.22 6.21

1yr

27.10

42.68

5-yr

51.60

40.05

* FTSE Bursa Malaysia Top 100 Index. Source: Lipper Hindsight 5.43 on 8/3/10 .

(1) Based on the fund’s portfolio returns as at 15 Mar 2010, the Volatility Factor (VF) for this fund is 15.71 and is classified as “High”. (source: Lipper) “High” includes funds with VF that are above 16.26 and less than or equal to 19.32 (source: Lipper). The VF means there is a possibility for the fund in generating an upside return or downside return around this VF. The Volatility Class (VC) is assigned by Lipper based on quintile ranks of VF for qualified funds. VF is subject to monthly revision and VC will be revised every six months. The fund’s portfolio may have changed since this date and there is no guarantee that the fund will continue to have the same VF or VC in the future. Presently, only funds launched in the market for at least 36 months will display the VF and its VC.

This monthly factsheet is prepared by ING Funds Berhad. It is not intended to be an offer or invitation to subscribe or purchase of units. The information contained herein has been obtained from sources believed in good faith to be reliable. ING Funds Berhad makes no representation as to its accuracy or completeness and expressly disclaims any liability whatsoever for any loss arising from or in reliance upon whole or any part of this document. Expressions of opinion contained in this document are those of ING Funds and its investment managers and the information contained herein is current as at the date of publication. Past performance of funds is not indicative of its future performance. The price of units and distribution payable, if any, may go down as well as up. Investment involves risk including a possible loss to the principal amount invested. Principal risk of the Fund are market risk, stock-specific risk and liquidity risk. A copy of the Master Prospectus incorporating, ING OneAnswerTM Investment Funds, ING i -Enhanced Cash and ING Cash Plus dated 23 April 2009 and Supplementary Master Prospectus incorporating ING OneAnswerTM Investment Funds, ING i -Enhanced Cash and ING Cash Plus dated 16 October 2009 have been registered with the Securi-ties Commission, who takes no responsibility for its contents. Investors are advised to read the Prospectus before investing. Application for units can only be made on receipt of a form of appli-cation referred to in and accompanying the Master Supplementary Prospectus. Investors should also consider the fees and charges involved. A copy of the Master & Supplementary Master Prospectuses can be obtained from ING Funds offices or any of our authorized distributors as listed under the corporate directory of the Master Prospectus. The fund may not be suitable for all and if in doubt investors should seek professional advice.

Fund Fact Sheet Mar 2010 Issue I Pg 24

1

2

3

4

56 7 8 9

(1)

Total Return From 27/02/2009 To 26/02/2010

Per

centa

ge

Gro

wth

-10

0

10

20

30

40

50

60

04/09 07/09 10/09 01/10

ING Blue Chip = 27.1%

FTSE Bursa Malaysia Top 100 = 44.8%

Total Return From 27/02/2009 To 26/02/2010

Per

centa

ge

Gro

wth

-10

0

10

20

30

40

50

60

04/09 07/09 10/09 01/10

ING Blue Chip = 27.1%

FTSE Bursa Malaysia Top 100 = 44.8%

Lipper Analytics

15 Mar 10

3-year Fund Volatility

Page 25: ING Funds Fact Sheets@March 2010

ING FUNDS MAR 2010

ING TACTICAL (a fund under ING OneAnswerTM)

To achieve long-term capital growth through investments in companies with superior growth prospects.

FUND DETAILS

LARGEST HOLDINGS* (as at 25 Feb 2010) Bumiputra-Commerce Bank Bhd 9.8%

Public Bank Bhd 8.8%

Sime Darby Berhad 8.2%

Malayan Banking Bhd 7.1%

Axiata Group Berhad 5.3%

*As a percentage of NAV

FUND ANALYSIS (28 Feb 2009 – 26 Feb 2010) Beta Annualized

Alpha Annualized

Sharpe Ratio**

Annualized Volatility

Fund 0.65 -0.39 2.13 10.21

Benchmark* 1.00 - 2.26 15.45

* FTSE Bursa Malaysia Top 100 Index, **Risk-free rate: Maybank 12-mth FD rate. Source: Lipper Hindsight 5.43 on 8/3/10

SECTOR ALLOCATION* (as at 25 Feb 2010)

* As percentage of NAV. Asset exposure for the fund is subject to frequent change on a daily basis.

PERFORMANCE RECORD Percentage growth of investment made on 28 Feb 2009 at 26 Feb 2010 with dividend reinvested, NAV-NAV basis.

Source: Lipper Hindsight 5.43 on 8/3/10 The value of units may go down as well as up. Past performance is not indicative of future results.

PERFORMANCE TABLE (%) (as at 26 Feb 2010)

1-mth 6-mth 3-yr

Fund 0.04 6.99 -6.54

Benchmark* 0.92 8.22 6.21

1-yr

26.42

42.68

5-yr

1.93

40.05

* FTSE Bursa Malaysia Top 100 Index. Source: Lipper Hindsight 5.43 on 8/3/10.

THE FUND IS SUITABLE FOR INVESTORS WHO: Seek high capital growth.

Have relatively high-risk profiles and can withstand significant short-term volatilities.

Have long-term investment horizon.

MANAGER’S COMMENTS (Review period: Feb 2010)

The portfolio underperformed its benchmark by -0.88% in the month of February, gaining +0.04% versus it benchmark return of 0.92%. The un-derperformance was due to its weak stock selection in financials and con-sumer goods sector, which the fund had an overweight exposure in both the sectors which generated lower returns. The underweight exposure in telecommunication and consumer services sectors contributed additional negative alpha to the fund. However, the overall negative alpha was par-tially mitigated by buying into the cyclical sector such as technology and its underweight exposure in utilities.

Unit NAV (25 Feb 2010) RM 0.4802

Highest NAV (Since Inception) RM 0.6799

Lowest NAV (Since Inception) RM 0.3602

Fund Size (25 Feb 2010) RM 4.772 mil

Fund Currency Ringgit Malaysia

Fund Inception 23 April 2004

Annual Management Fee 1.55% of NAV of the Fund

Trustee Fee 0.07% of NAV of the Fund or a minimum of RM18,000 p.a.

Exit Fee Nil

Maximum Initial Charge Cash: 6.5% of NAV per unit EPF: 3.0% of NAV per unit

Redemption Payment Period Up to 10 days

Distribution Policy Income as secondary objective, if any, is paid annually.

Investment Manager ING Funds Berhad

1 Finance 32.2%

2 Trading & Services 30.4%

3 FD/Cash 12.3%

4 Plantations 10.9%

5 Construction 5.1%

6 Properties 3.4%

7 Consumer 3.1%

9 Technology 0.4% 8 Infrastructure 2.2%

(1) Based on the fund’s portfolio returns as at 15 Mar 2010, the Volatility Factor (VF) for this fund is 18.30 and is classified as “High”. (source: Lipper) “High” includes funds with VF that are above 16.26 and less than or equal to 19.32 (source: Lipper). The VF means there is a possibility for the fund in generating an upside return or downside return around this VF. The Volatility Class (VC) is assigned by Lipper based on quintile ranks of VF for qualified funds. VF is subject to monthly revision and VC will be revised every six months. The fund’s portfolio may have changed since this date and there is no guarantee that the fund will continue to have the same VF or VC in the future. Presently, only funds launched in the market for at least 36 months will display the VF and its VC.

This monthly factsheet is prepared by ING Funds Berhad. It is not intended to be an offer or invitation to subscribe or purchase of units. The information contained herein has been obtained from sources believed in good faith to be reliable. ING Funds Berhad makes no representation as to its accuracy or completeness and expressly disclaims any liability whatsoever for any loss arising from or in reliance upon whole or any part of this document. Expressions of opinion contained in this document are those of ING Funds and its investment managers and the information contained herein is current as at the date of publication. Past performance of funds is not indicative of its future performance. The price of units and distribution payable, if any, may go down as well as up. Investment involves risk including a possible loss to the principal amount invested. Principal risks of the Fund are market risk, stick-specific risk and liquidity risk. A copy of the Master Prospectus incorporating, ING OneAnswerTM Investment Funds, ING i -Enhanced Cash and ING Cash Plus dated 23 April 2009 and Supplementary Master Prospectus incorporating ING OneAnswerTM Investment Funds, ING i -Enhanced Cash and ING Cash Plus dated 16 October 2009 have been registered with the Securi-ties Commission, who takes no responsibility for its contents. Investors are advised to read the Prospectus before investing. Application for units can only be made on receipt of a form of applica-tion referred to in and accompanying the Master Supplementary Prospectus. Investors should also consider the fees and charges involved. A copy of the Master & Supplementary Master Pro-spectuses can be obtained from ING Funds offices or any of our authorized distributors as listed under the corporate directory of the Master Prospectus. The fund may not be suitable for all and if in doubt investors should seek professional advice.

Fund Fact Sheet Mar 2010 Issue I Pg 25

1

2

3

4

56 7 8 9

(1)

Total Return From 27/02/2009 To 26/02/2010

Per

centa

ge

Gro

wth

-10

0

10

20

30

40

50

60

04/09 07/09 10/09 01/10

ING Tactical = 26.4%

FTSE Bursa Malaysia Top 100 = 44.8%

Total Return From 27/02/2009 To 26/02/2010

Per

centa

ge

Gro

wth

-10

0

10

20

30

40

50

60

04/09 07/09 10/09 01/10

ING Tactical = 26.4%

FTSE Bursa Malaysia Top 100 = 44.8%

Lipper Analytics

15 Mar 10

3-year Fund Volatility

Page 26: ING Funds Fact Sheets@March 2010

ING FUNDS MAR 2010

FUND DETAILS

LARGEST HOLDINGS* (as at 25 Feb 2010)

*As a percentage of NAV FUND ANALYSIS (28 Feb 2009 – 26 Feb 2010)

SECTOR ALLOCATION* (as at 25 Feb 2010)

* As percentage of NAV. Asset exposure for the fund is subject to frequent change on a daily basis

PERFORMANCE RECORD Percentage growth of investment made on 28 Feb 2009 at 26 Feb 2010 with dividend reinvested, NAV-NAV basis.

Source: Lipper Hindsight 5.43 on 8/3/10 The value of units may go down as well as up. Past performance is not indicative of future results.

PERFORMANCE TABLE (%) (as at 26 Feb 2010)

ING GROWTH OPPORTUNITIES (a fund under ING OneAnswerTM)

To achieve consistent capital appreciation over the long-term by primarily investing in relatively smaller capitalized companies with good growth prospects.

THE FUND IS SUITABLE FOR INVESTORS WHO: Seek high capital appreciation.

Have moderate to high-risk tolerance and can withstand significant short-term volatilities.

Have medium- to long-term investment horizon.

1 Finance 26.4% 2 Trading & Services 18.6% 3 FD/Cash 15.1% 4 Plantations 10.5% 5 Industrial Products 8.9% 6 Construction 6.0% 7 Properties 5.3% 8 Consumer 5.1% 9 Technology 4.1%

MANAGER’S COMMENTS (Review period: Feb 2010)

In February 2010, the Fund underperformed the benchmark. This was attributable to negative alpha from both stock selection and asset alloca-tion. Its performance was affected by its overweight position in cash, tech-nology and gaming as well as underweight position in financial and tele-communication; partially offset by overweight position in glove manufactur-ers, utilities and industrials.

Unit NAV (at 25 Feb 2010 RM 0.4997

Highest NAV (Since Inception) RM 0.7475

Lowest NAV (Since Inception) RM 0.3794

Fund size (at 25 Feb 2010): RM 9.195 mil

Fund Currency Ringgit Malaysia

Fund Inception 23 April 2004

Annual Management Fee 1.55% of NAV of the Fund

Trustee Fee 0.07% of NAV of the Fund or a mini-mum of RM18,000 p.a.

Exit Fee Nil

Maximum Initial Charge Cash: 6.5% of NAV per unit EPF: 3.0% of NAV per unit

Redemption Payment Period Up to 10 days

Distribution Policy Income as secondary objective, if any, is paid annually.

Investment Manager ING Funds Berhad

Public Bank Bhd 7.0%

Malayan Banking Bhd 6.3%

Bumiputra-Commerce Bank Bhd 6.1%

IOI Corporation Bhd 5.0%

Sime Darby Berhad 3.4%

1-mth 6-mth 3-yr

Fund 0.04 7.55 -19.75

Benchmark* 0.90 8.03 7.67

1yr

26.97

46.40

5-yr

0.32

39.15

* FTSE Bursa Malaysia Emas Index, Source: Lipper Hindsight 5.43 on 8/3/10

Beta Annualized Alpha

Annualized Sharpe Ratio**

Annualized Volatility

Fund 0.45 5.42 2.74 8.07

Benchmark* 1.00 - 2..24 16.89

* FTSE Bursa Malaysia Emas Index, **Risk-free rate: Maybank 12-mth FD rate, Source: Lipper Hindsight 5.43 on 8/3/10

(1) Based on the fund’s portfolio returns as at 15 Mar 2010, the Volatility Factor (VF) for this fund is 17.48 and is classified as “High”. (source: Lipper) “High” includes funds with VF that are above 16.26 and less than or equal to 19.32 (source: Lipper). The VF means there is a possibility for the fund in generating an upside return or downside return around this VF. The Volatility Class (VC) is assigned by Lipper based on quintile ranks of VF for qualified funds. VF is subject to monthly revision and VC will be revised every six months. The fund’s portfolio may have changed since this date and there is no guarantee that the fund will continue to have the same VF or VC in the future. Presently, only funds launched in the market for at least 36 months will display the VF and its VC.

This monthly factsheet is prepared by ING Funds Berhad. It is not intended to be an offer or invitation to subscribe or purchase of units. The information contained herein has been obtained from sources believed in good faith to be reliable. ING Funds Berhad makes no representation as to its accuracy or completeness and expressly disclaims any liability whatsoever for any loss arising from or in reliance upon whole or any part of this document. Expressions of opinion contained in this document are those of ING Funds and its investment managers and the information contained herein is current as at the date of publication. Past performance of funds is not indicative of its future performance. The price of units and distribution payable, if any, may go down as well as up. Investment involves risk including a possible loss to the principal amount invested. Principal risks of the Fund are market risk, stock-specific risk and liquidity risk. A copy of the Master Prospectus incorporating, ING OneAnswerTM Investment Funds, ING i -Enhanced Cash and ING Cash Plus dated 23 April 2009 and Supplementary Master Prospectus incorporating ING OneAnswerTM Investment Funds, ING i -Enhanced Cash and ING Cash Plus dated 16 October 2009 have been registered with the Securi-ties Commission, who takes no responsibility for its contents. Investors are advised to read the Prospectus before investing. Application for units can only be made on receipt of a form of applica-tion referred to in and accompanying the Master Supplementary Prospectus. Investors should also consider the fees and charges involved. A copy of the Master & Supplementary Master Pro-spectuses can be obtained from ING Funds offices or any of our authorized distributors as listed under the corporate directory of the Master Prospectus. The fund may not be suitable for all and if in doubt investors should seek professional advice.

Fund Fact Sheet Mar 2010 Issue I Pg 26

1

2

3

4

5

6

78 9

(1)

Total Return From 27/02/2009 To 26/02/2010

Per

centa

ge

Gro

wth

-10

0

10

20

30

40

50

60

04/09 07/09 10/09 01/10

ING Growth Opportunities = 27.0%

FTSE Bursa Malaysia Emas = 46.4%

Total Return From 27/02/2009 To 26/02/2010

Per

centa

ge

Gro

wth

-10

0

10

20

30

40

50

60

04/09 07/09 10/09 01/10

ING Growth Opportunities = 27.0%

FTSE Bursa Malaysia Emas = 46.4%

Lipper Analytics

15 Mar 10

3-year Fund Volatility

Page 27: ING Funds Fact Sheets@March 2010

ING FUNDS MAR 2010

ING EKUITI ISLAM (a fund under ING OneAnswerTM)

To achieve long term capital growth through investment in Shariah-compliant securities.

FUND DETAILS

LARGEST HOLDINGS* (as at 25 Feb 2010)

*As a percentage of NAV FUND ANALYSIS (28 Feb 2009 – 26 Feb 2010) Beta Annualized

Alpha Annualized

Sharpe Ratio**

Annualized Volatility

Fund 0.49 3.73 2.46 8.21

Benchmark* 1.00 - 2.18 15.89

SECTOR ALLOCATION* (as at 25 Feb 2010)

* As percentage of NAV. Asset exposure for the fund is subject to fre-quent change on a daily basis

PERFORMANCE RECORD Percentage growth of investment made on 28 Feb 2009 at 26 Feb 2010 with dividend reinvested, NAV-NAV basis.

Source: Lipper Hindsight 5.43 on 8/3/10 The value of units may go down as well as up. Past performance is not indicative of future results.

PERFORMANCE TABLE (%) (as at 26 Feb 2010)

1-mth 6-mth 3-yr

Fund 1.21 5.04 8.25

Benchmark* 1.94 5.39 8.14

1-yr

24.70

41.96

5-yr

48.94

40.36

THE FUND IS SUITABLE FOR INVESTORS WHO: Seek high capital growth from Shariah-compliant securities.

Has relatively high-risk profiles and can withstand significant short-term volatilities.

Have long-term investment horizon.

MANAGER’S COMMENTS (Review Period: Feb 2010)

In February 2010, the Fund underperformed the benchmark. This was attributable to negative alpha from both the stock selection and asset allo-cation. The underperformance was due to its overweight position in cash and technology as well as underweight position in telecommunication; partially offset by underweight position in industrial and utilities.

Unit NAV (at 25 Feb 2010): RM 0.4534

Highest NAV (Since Inception) RM 0.8549

Lowest NAV (Since Inception) RM 0.3492

Fund size (at 25 Feb 2010): RM 25.270 mil

Fund Currency Ringgit Malaysia

Fund Inception 23 April 2004

Annual Management Fee 1.55% of NAV of the Fund

Trustee Fee 0.07% of NAV of the Fund or a mini-mum of RM18,000 p.a.

Exit Fee Nil

Maximum Initial Charge Cash: 6.5% of NAV per unit EPF: 3.0% of NAV per unit

Redemption Payment Period Up to 10 days

Distribution Policy Income will be distributed annually on a best effort basis, if any.

Investment Manager ING Funds Berhad

IOI Corporation Bhd 7.5%

Sime Darby Berhad 6.3%

Tenaga Nasional Bhd 5.7%

ING i-Enhanced Cash 5.5%

Axiata Group Berhad 4.9%

* FTSE Bursa Malaysia EMAS Shariah Index, **Risk-free rate: Maybank 12-mth FD rate, Source: Lipper Hindsight 5.43 on 8/3/10

* FTSE Bursa Malaysia EMAS Shariah Index, Source: Lipper Hindsight 5.43 on 8/3/10

1 Trading & Services 28.8% 2 Plantations 19.4% 3 FD/Cash 8.8% 4 Industrial Products 8.7% 5 Construction 7.6% 6 Consumer 6.3% 7 Infrastructure 6.0%

8 Collective Investment Scheme-Local

5.4%

9 Properties 5.3% 10 Technology 3.7%

(1) Based on the fund’s portfolio returns as at 15 Mar 2010, the Volatility Factor (VF) for this fund is 18.77 and is classified as “Very High”. (source: Lipper) “Very High” includes funds with VF that are above 19.32 (source: Lipper). The VF means there is a possibility for the fund in generating an upside return or downside return around this VF. The Volatility Class (VC) is assigned by Lipper based on quintile ranks of VF for qualified funds. VF is subject to monthly revision and VC will be revised every six months. The fund’s portfolio may have changed since this date and there is no guarantee that the fund will continue to have the same VF or VC in the future. Presently, only funds launched in the market for at least 36 months will display the VF and its VC.

This monthly factsheet is prepared by ING Funds Berhad. It is not intended to be an offer or invitation to subscribe or purchase of units. The information contained herein has been obtained from sources believed in good faith to be reliable. ING Funds Berhad makes no representation as to its accuracy or completeness and expressly disclaims any liability whatsoever for any loss arising from or in reliance upon whole or any part of this document. Expressions of opinion contained in this document are those of ING Funds and its investment managers and the information contained herein is current as at the date of publication. Past performance of funds is not indicative of its future performance. The price of units and distribution payable, if any, may go down as well as up. Investment involves risk including a possible loss to the principal amount invested. Principal risks of the Fund are market risk, stock-specific risk, liquidity risk and reclassification of Shariah status risk. A copy of the Master Prospectus incorporating, ING OneAnswerTM Investment Funds, ING i -Enhanced Cash and ING Cash Plus dated 23 April 2009 and Supplementary Master Prospectus incorporating ING OneAnswerTM Investment Funds, ING i -Enhanced Cash and ING Cash Plus dated 16 October 2009 have been registered with the Securities Commission, who takes no responsibility for its contents. Investors are advised to read the Prospectus before investing. Application for units can only be made on receipt of a form of application referred to in and accompanying the Master Supplementary Prospectus. Investors should also consider the fees and charges involved. A copy of the Master & Supplementary Master Prospectuses can be obtained from ING Funds offices or any of our authorized distributors as listed under the corporate directory of the Master Prospectus. The fund may not be suitable for all and if in doubt investors should seek professional advice.

Fund Fact Sheet Mar Issue 2010 I Pg 27

1

34

5

6

7

89 10

2

(1)

Total Return From 27/02/2009 To 26/02/2010

Per

centa

ge G

rowth

-5

0

5

10

15

20

25

30

35

40

45

50

04/09 07/09 10/09 01/10

ING Ekuiti Islam = 24.7%

FTSE Bursa Malaysia Emas Shariah = 42.0%

Total Return From 27/02/2009 To 26/02/2010

Per

centa

ge G

rowth

-5

0

5

10

15

20

25

30

35

40

45

50

04/09 07/09 10/09 01/10

ING Ekuiti Islam = 24.7%

FTSE Bursa Malaysia Emas Shariah = 42.0%

Lipper Analytics

15 Mar 10

3-year Fund Volatility

Page 28: ING Funds Fact Sheets@March 2010

ING FUNDS MAR 2010

ING GLOBAL REAL ESTATE

To provide investors with potential high total returns consisting of income and capital appreciation over time with the aim of declaring, at the discretion of the Manager, regular income distribution.

FUND DETAILS

FUND ANALYSIS (28 Feb 2009 – 26 Feb 2010) Beta Annualized

Alpha Annualized

Sharpe Ratio**

Annualized Volatility

Fund 0.90 0.27 2.24 19.44

Benchmark* 1.00 - 2.24 21.36

ASSET ALLOCATION* (as at 25 Feb 2010)

* As percentage of NAV. Asset exposure for the fund is subject to frequent change on a daily basis

PERFORMANCE RECORD Percentage growth of investment made on 28 Feb 2009 at 26 Feb 2010 with dividend reinvested, NAV-NAV basis.

Source: Lipper Hindsight 5.43 on 8/3/10 The value of units may go down as well as up. Past performance is not indicative of future results.

PERFORMANCE TABLE (%) (as at 26 Feb 2010)

1-mth 6-mth 1-yr

Fund 1.13 -0.42 55.28

Benchmark* 2.15 1.64 61.79

3-yr

-37.96

-47.33

(1) Based on the fund’s portfolio returns as at 15 Mar 2010, the Volatility Factor (VF) for this fund is 24.86 and is classified as “Very High” (source: Lipper) “Very High” includes funds with VF that are above 19.32 (source: Lipper). The VF means there is a possibility for the fund in generating an upside return or downside return around this VF. The Volatility Class (VC) is assigned by Lipper based on quintile ranks of VF for qualified funds. VF is subject to monthly revision and VC will be revised every six months. The fund’s portfolio may have changed since this date and there is no guarantee that the fund will continue to have the same VF or VC in the future. Presently, only funds launched in the market for at least 36 months will display the VF and its VC.

This monthly factsheet is prepared by ING Funds Berhad. It is not intended to be an offer or invitation to subscribe or purchase of units. The information contained herein has been obtained from sources believed in good faith to be reliable. ING Funds Berhad makes no representation as to its accuracy or completeness and ex-pressly disclaims any liability whatsoever for any loss arising from or in reliance upon whole or any part of this document. Expressions of opinion contained in this document are those of ING Funds and its investment managers and the information contained herein is current as at the date of publication. Past performance of funds is not indicative of its future performance and prices can go down as well as up. Investment involves risk including a possible loss to the principal amount invested. Principal risks of the Fund are country risk, political =/regulatory risk, portfolio management risk, foreign exchange/currency risk, premium risk, price volatility risk, market trend/industry concentration risk, real estate risk and distribution risk. A copy of the Master Prospectus incorporating ING Global Real Estate, ING Global Dividend, ING China Access and ING Global Emerging Markets Debt dated 18 July 2009 has been registered with the Securities Commission, who takes no responsibility for its contents. Investors are advised to read the Master Prospectus before investing. Application for units can only be made on receipt of a form of application re-ferred to in and accompanying the Master Prospectus. Investors should also consider the fees and charges involved. A copy of the Master Prospectus can be obtained from ING Funds office or any of our authorized distributors listed under the corporate directory of the Master Prospectus. The fund may not be suitable for all and if in doubt investors should seek professional advice.

THE FUND IS SUITABLE FOR INVESTORS WHO: Seek long term capital appreciation.

Have long-term investment horizon.

Seek diversification in real estate asset class.

Seek diversification in foreign markets.

MANAGER’S COMMENTS (Review Period: Feb 2010) The Fund registered a return of 1.13% for the month of February 2010, underperforming its benchmark which returned 2.15%. The Fund underper-formed primarily due to overweights in European stocks during a period which saw weak performance due to macro-economic concerns regarding the fiscal situation of Greece and potentially other southern European countries. The Fund continues to deliver exposure to an accessible, liquid investment in a well diversified pool of high-quality commercial real estate.

* S&P Developed Property Index, **Risk-free rate: Maybank 12-mth FD rate. Source: Lipper Hindsight 5.43 on 8/3/10

* S&P Developed Property Index, Source: Lipper Hindsight 5.43 on 8/3/10

1 ING Global Real Estate Securities

95.60%

3 FD/Cash 0.80%

2 Collective Investment Scheme - Local

3.60%

Unit NAV (25 Feb 2010) RM 0.3013

Fund Size (25 Feb 2010) RM 85.941 mil

Fund Currency Ringgit Malaysia

Fund Inception 18 July 2006

Annual Management Fee 1.80% of NAV of the Fund

Trustee Fee 0.08% of the NAV of the Fund or a mini-mum of RM18,000 p.a.

Exit Fee Nil

Maximum Initial Charge 6.5% of NAV per unit

Redemption Payment Period Up to 10 days

Distribution Policy Income will be distributed quarterly on a best effort basis, if any.

Lowest NAV (Since Inception) RM 0.1797

Highest NAV (Since Inception) RM 0.5644

Investment Manager ING Funds Berhad

Fund Fact Sheet Mar 2010 Issue I Pg 28

1

2 3

(1)

Total Return From 27/02/2009 To 26/02/2010

Per

centa

ge

Gro

wth

-20

-10

0

10

20

30

40

50

60

70

80

04/09 07/09 10/09 01/10

ING Global Real Estate = 55.3%

S&P Developed Property = 61.8%

Total Return From 27/02/2009 To 26/02/2010

Per

centa

ge

Gro

wth

-20

-10

0

10

20

30

40

50

60

70

80

04/09 07/09 10/09 01/10

ING Global Real Estate = 55.3%

S&P Developed Property = 61.8%

Lipper Analytics

15 Mar 10

3-year Fund Volatility

Page 29: ING Funds Fact Sheets@March 2010

ING FUNDS MAR 2010 ING GLOBAL REAL ESTATE

REVIEW OF THE MARKET THAT ING GLOBAL REAL ESTATE SECURITIES (TARGET FUND) INVESTS IN (Review Period: Feb 2010)

Global property company returns were positive in February Earnings releases, which were generally in-line with expectations, and macro-economic news continue to provide hope that a sustainable recovery is indeed underway. Returns in North America were particu-larly strong at +5.5%, buoyed partly by M&A as mall giant Simon Prop-erty Group publicly made an offer for General Growth Properties, an-other significant U.S. mall REIT that has been emerging from bank-ruptcy for the better part of a year. Europe was weak on macro-economic concerns regarding the fiscal situation of Greece and poten-tially other southern European countries including Spain and Portugal. Asia-Pacific markets were affected by a combination of property fun-damentals, which are robust by Western standards, and monetary policy headwinds of central bank tightening in China and, by early March, Australia. Economic recovery in the West remains tepid Recovery in Europe appears to be increasingly delayed, particularly on the prospect of those countries with capital (northern Europe) having to bail out those countries without capital (southern Europe). In the U.S., economic news continues to torture the investment case of a steady rebound as job growth continues to disappoint, made worse by flagging consumer confidence. The U.S. economic situation is not without hope, however, as housing starts and retail sales both ex-ceeded expectations in January. The Federal Reserve Bank remains accommodative in this economic environment with a stated intent of keeping the Fed Funds rate low for the foreseeable future. Economic strength in the East (ex-Japan) remains robust Economic strength in the Asia-Pacific region has recently necessitated central bank tightening. The People’s Bank of China has increased the Reserve Requirement Ratio (RRR) twice over the past two months by 100 basis points and is expected to continue raising the RRR by at least another 100 basis points over the course of the year and may also look to increase interest rates as a possible tool to moderate li-quidity. In Hong Kong, the 2010/2011 financial budget included an increase in stamp duty (transfer tax) from 3.75% to 4.25% for luxury properties (north of HK$20 million or about US$1.5 million), which was more important in its signaling than its magnitude. The Reserve Bank of Australia raised rates by 25 basis points shortly after month-end (in early March) from 3.75% to 4.0% after last raising rates in January by 25 basis points to 3.75%. In Singapore, 4Q09 annualized GDP came in at 4.0% versus 3.5% expected, and 2010 projected GDP was re-vised up to 4.5% to 6.5% from 3.0% to 5.0%. Earnings season supports the case for listed property companies Earnings season has largely passed and provided evidence that listed property companies have been successfully managed through the economic downturn and subsequent nascent recovery with risk more on the upside than the downside. Thematics have included continued yield compression off the trough of last year, evidence that market rents have stabilized and increased acquisitions activity. No longer are balance sheet concerns the center of attention as listed property com-panies have largely righted their capital structures. Global mall com-pany earnings releases were instructive, providing a snapshot of the retail landscape across the world as operating fundamentals proved to be stable to improving. Companies which specialize in more cyclical property types, such as office, hotels and industrial, reported earnings which suggest that we are in the latter stages of the bottoming proc-ess. Through all the noise and angst, we conclude that gradual recov-ery is afoot and that the listed companies remain particularly well-positioned to take advantage of slowly improving fundamentals and any acquisition opportunities that might present themselves in the marketplace.

GEOGRAPHICAL ALLOCATION (as at 26 Feb 2010)

ASSET ALLOCATION (as at 26 Feb 2010)

SECTOR ALLOCATION (as at 26 Feb 2010)

TOP 10 HOLDINGS (as at 26 Feb 2010)

% Country

Simon Property Group Inc 4.3 United States

Westfield Group Stapled Securities 4.2 Australia

Inibail-Rodamco REIT 4.1 France

Sun Hung Kai Properties Ltd 3.9 Hong Kong

Mitsui Fudosan Co. Ltd 3.6 Japan

Mitsubishi Estate Co. Ltd 3.2 Japan

Vornado Realty Trust 2.9 United States

Macerich Co. 2.3 United States

Sumitomo Realty & Development Co. Ltd 2.2 Japan

Land Securities Group Plc REIT 2.0 United King-dom67.8

Source: Commentary and target fund information provided by ING Clarion Real Estate Securities.

Fund Fact Sheet Mar 2010 Issue I Pg 29

(1) Based on the fund’s portfolio returns as at 26 Feb 2010, the Volatility Factor (VF) for this fund is 24.84 and is classified as “Very High”. (source: Lipper) “Very High” includes funds with VF that are above 19.32 (source: Lipper). The VF means there is a possibility for the fund in generating an upside return or downside return around this VF. The Volatility Class (VC) is assigned by Lipper based on quintile ranks of VF for qualified funds. VF is subject to monthly revision and VC will be revised every six months. The fund’s portfolio may have changed since this date and there is no guarantee that the fund will continue to have the same VF or VC in the future. Presently, only funds launched in the market for at least 36 months will display the VF and its VC.

This monthly factsheet is prepared by ING Funds Berhad. It is not intended to be an offer or invitation to subscribe or purchase of units. The information contained herein has been obtained from sources believed in good faith to be reliable. ING Funds Berhad makes no representation as to its accuracy or completeness and ex-pressly disclaims any liability whatsoever for any loss arising from or in reliance upon whole or any part of this document. Expressions of opinion contained in this document are those of ING Funds and its investment managers and the information contained herein is current as at the date of publication. Past performance of funds is not indicative of its future performance and prices can go down as well as up. Investment involves risk including a possible loss to the principal amount invested. Principal risks of the Fund are country risk, political =/regulatory risk, portfolio management risk, foreign exchange/currency risk, premium risk, price volatility risk, market trend/industry concentration risk, real estate risk and distribution risk. A copy of the Master Prospectus incorporating ING Global Real Estate, ING Global Dividend, ING China Access and ING Global Emerging Markets Debt dated 18 July 2009 has been registered with the Securities Commission, who takes no responsibility for its contents. Investors are advised to read the Master Prospectus before investing. Application for units can only be made on receipt of a form of application re-ferred to in and accompanying the Master Prospectus. Investors should also consider the fees and charges involved. A copy of the Master Prospectus can be obtained from ING Funds office or any of our authorized distributors listed under the corporate directory of the Master Prospectus. The fund may not be suitable for all and if in doubt investors should seek professional advice.

1

2 1 REIT 67.8%

2 Non-REIT 32.2%

32.0%

17.5%

14.7%

10.0%

6.7%

6.6%

3.4%

3.1%

1.6%

1.6%

1.5%

1.3%

Diversif ied Propert y

Ret ail Malls

Of f ice Building

Ret ail Shopping Cent res

Indust r ial Propert ies

Apart ment

Healt hcare Facilit ies

Hot els

Indust r ial/ Of f ice

Real Est at e Services

Self -st orage Propert y

Cash & Equivalent

36.0%

13.9%

13.4%

12.4%

6.8%

6.3%

3.2%

1.6%

1.3%

1.1%

0.9%

0.8%

0.7%

0.7%

0.6%

0.2%

Unit ed St at e

Japan

Hong Kong

Aust ralia

France

UK

Singapore

Canada

Cash & Equivalent

Sweden

Brazil

Norway

Aust r ia

Swit zer land

Net herlands

It aly

Page 30: ING Funds Fact Sheets@March 2010

ING FUNDS MAR 2010

ING GLOBAL DIVIDEND

To achieve capital growth by investing in a diversified portfolio of high dividend-yielding equities globally through a target fund.

THE FUND IS SUITABLE FOR INVESTORS WHO: Seek a combination of capital appreciation and regular income distri-

bution

Have relatively moderate-risk profiles and can withstand significant short-term volatilities.

Have long-term investment horizon i.e. a minimum of 5 years

Seek diversification in foreign markets

MANAGER’S COMMENTS (Review Period: Feb 2010) The Fund registered a return of 0.51% for the month of February 2010, underperforming its benchmark which returned 1.07%. The Fund underperformed during a period which saw global equities re-bound from earlier weakness. The Fund continues to deliver expo-sure to a portfolio of equities which are expected to provide attractive dividends.

FUND DETAILS Unit NAV (25 Feb 2010) RM 0.3165

Highest NAV (Since Inception) RM 0.4853

Lowest NAV (Since Inception) RM 0.2145

Fund Size (25 Feb 2010) RM 66.385mil

Fund Currency Ringgit Malaysia

Fund Inception 19 March 2007

Annual Management Fee 1.80% of NAV of the Fund

Trustee Fee 0.08% of NAV of the Fund or a minimum of RM18,000 p.a.

Exit Fee Nil

Maximum Initial Charge 6.5% of NAV per unit

Redemption Payment Period Up to 10 days

Investment Manager ING Funds Berhad

FUND ANALYSIS (28 Feb 2009 – 26 Feb 2010) Beta Annualized

Alpha Annualized

Sharpe Ratio**

Annualized Volatility

Fund 0.78 4.45 2.38 12.14

Benchmark* 1.00 - 2.15 14.35

*MSCI World Index ** Risk-free rate: Maybank 12-mth FD rate , Source: Lipper Hindsight 5.43 on 8/3/10.

ASSET ALLOCATION* (as at 25 Feb 2010)

* As percentage of NAV. Asset exposure for the fund is subject to frequent change on a daily basis

PERFORMANCE RECORD Percentage growth of investment made on 28 Feb 2009 at 26 Feb 2010 with dividend reinvested, NAV-NAV basis.

Source: Lipper Hindsight 5.43 on 8/3/10 The value of units may go down as well as up. Past performance is not indica-tive of future results.

PERFORMANCE TABLE(%) (as at 26 Feb 2010)

1-mth 6-mth 1-yr

Fund 0.51 1.31 35.53

Benchmark* 1.07 0.96 38.64

*MSCI World Index , Source: Lipper Hindsight 5.43 on 8/3/10

1 ING (L) Invest Global High Dividend

96.2%

2 Collective Investment Scheme - Local

2.4%

3 FD/Cash 1.4%

This monthly factsheet is prepared by ING Funds Berhad. It is not intended to be an offer or invitation to subscribe or purchase of units. The information contained herein has been obtained from sources believed in good faith to be reliable. ING Funds Berhad makes no representation as to its accuracy or completeness and ex-pressly disclaims any liability whatsoever for any loss arising from or in reliance upon whole or any part of this document. Expressions of opinion contained in this document are those of ING Funds and its investment managers and the information contained herein is current as at the date of publication. Past performance of funds is not indicative of its future performance and prices can go down as well as up. Investment involves risk including a possible loss to the principal amount invested. Principal risks of the Fund are market risk, foreign exchange/currency risk, counter-party risk, risk arising from 144A securities and derivative risk. A copy of the Master Prospectus incorporating ING Global Real Estate, ING Global Dividend, ING China Access and ING Global Emerging Markets Debt dated 18 July 2009 has been registered with the Securities Commission, who takes no responsibility for its contents. Investors are advised to read the Master Prospectus before investing. Application for units can only be made on receipt of a form of application referred to in and accompanying the Master Prospectus. Investors should also consider the fees and charges involved. A copy of the Master Prospectus can be obtained from ING Funds office or any of our authorized distributors listed under the corporate directory of the Master Prospectus. The fund may not be suitable for all and if in doubt investors should seek professional advice.

Fund Fact Sheet Mar 2010 Issue I Pg 30

1

2 3

Total Return From 27/02/2009 To 26/02/2010

Per

centa

ge G

row

th

-10

-5

0

5

10

15

20

25

30

35

40

45

50

04/09 07/09 10/09 01/10

ING Global Dividend = 35.5%

MSCI World = 38.6%

Total Return From 27/02/2009 To 26/02/2010

Per

centa

ge G

row

th

-10

-5

0

5

10

15

20

25

30

35

40

45

50

04/09 07/09 10/09 01/10

ING Global Dividend = 35.5%

MSCI World = 38.6%

Page 31: ING Funds Fact Sheets@March 2010

ING FUNDS MAR 2010

ING GLOBAL DIVIDEND

REVIEW OF THE MARKET THAT ING (L) INVEST GLOBAL HIGH DIVIDEND (TARGET FUND) INVESTS IN(Review Period: Feb 2010)

Global equities had a weak start of the month as a result of sover-eign debt concerns in Europe and continued policy tightening from China. The increased likelihood of EU support for Greece as well as a decent set of earnings numbers and positive outlooks from, in particular, financials and companies within the cyclical sectors helped to rebound global equities, posting reasonable returns in February. The MSCI DM World index rose 3.28% in EUR. At a sec-tor level, the cyclical sectors such as Information Technology, Mate-rials and Industrials were the best performers, while defensives such as Utilities and Telecommunication lagged. The divergence in the regional performance was more evident. European markets posted negative returns, reflecting growing sovereign debt concerns in the periphery and weakness emerging in core Europe. Amongst others, German and Italian GDP data disappointed. The US was the best performing region, partly helped by a stronger USD versus the EUR. The performance of Japan was in line with the MSCI World index. Emerging markets somewhat underperformed mainly due to negative returns in Eastern Europe. Style wise, small caps and growth outperformed respectively large caps and value. Risk appetite suffered under the weight of sovereign, fiscal and tightening concerns in recent weeks. But the corporate sector con-tinues to generally perform well. Aggressive cost-cutting continues to be a tangible, persistent driver of margin and profit outcomes in the corporate sector. While some doubts remain about the sustain-ability of final demand strength, positive catalysts on the back of productivity gains are still expected to outweigh negative catalysts in the near-term. With equity markets broadly close to fair value and modest PE con-traction likely, earnings are expected to take precedence as the catalyst for equity market performance in 2010. Lower interest charges, lower financial leverage and higher operating leverage are key earnings drivers. On a medium-term perspective, earnings-driven support is likely to be tempered by financial sector regulation and reduced monetary and fiscal policy accommodation. These concerns are likely to materialise in 2011. We also believe that high dividend shares will outperform in a low growth low(er) return envi-ronment, underscoring the increasing importance of dividends in the total return of a portfolio. On top of that we forecast that dividend uncertainty will decrease following the strong expected growth in 2010 earnings. Under the assumption that pay out ratio’s will move back to the long term aver-age, we forecast dividend increases of more than 10% making these stocks even more compelling. Finally the dividend yield is higher than the corporate bond yield in a number of sectors. This is especially the case for the European telecom, energy and utility sectors. The high dividend status of the utility sector may fade.

Equities

Pitney Bowes Inc 1.67%

Sumitomo Mitsui Financial Group 1.56%

Nintendo Co Ltd 1.53%

Kraft Foods Inc-class A 1.52%

Eni Spa 1.50%

At&t Inc 1.45%

Chevron Corp 1.43%

Pfizer Inc 1.39%

Royal Dutch Shell Plc-a Shs 1.39%

BP Plc 1.39%

Fund Fact Sheet Mar 2010 Issue I Pg 31

SECTOR ALLOCATION (as at 26 Feb 2010)

GEOGRAPHICAL ALLOCATION (as at 26 Feb 2010)

TOP 10 HOLDINGS (as at 26 Feb 2010)

Source: Commentary and target fund information provided by ING Investment Europe

This monthly factsheet is prepared by ING Funds Berhad. It is not intended to be an offer or invitation to subscribe or purchase of units. The information contained herein has been obtained from sources believed in good faith to be reliable. ING Funds Berhad makes no representation as to its accuracy or completeness and ex-pressly disclaims any liability whatsoever for any loss arising from or in reliance upon whole or any part of this document. Expressions of opinion contained in this document are those of ING Funds and its investment managers and the information contained herein is current as at the date of publication. Past performance of funds is not indicative of its future performance and prices can go down as well as up. Investment involves risk including a possible loss to the principal amount invested. Principal risks of the Fund are market risk, foreign exchange/currency risk, counter-party risk, risk arising from 144A securities and derivative risk. A copy of the Master Prospectus incorporating ING Global Real Estate, ING Global Dividend, ING China Access and ING Global Emerging Markets Debt dated 18 July 2009 has been registered with the Securities Commission, who takes no responsibility for its contents. Investors are advised to read the Master Prospectus before investing. Application for units can only be made on receipt of a form of application referred to in and accompanying the Master Prospectus. Investors should also consider the fees and charges involved. A copy of the Master Prospectus can be obtained from ING Funds office or any of our authorized distributors listed under the corporate directory of the Master Prospectus. The fund may not be suitable for all and if in doubt investors should seek professional advice.

18.15%

16.64%

11.64%

10.43%

9.56%

8.65%

8.06%

6.80%

6.62%

3.09%

Financials

Consumer Staples

Energy

Healthcare

Ut ilit ies

Industrials

IT

Consumer Discret ionary

Telecoms

M aterials

44.75%

10.84%

9.90%

6.66%

5.80%

5.67%

3.32%

2.12%

1.94%

9.50%

United States

United Kingdom

Japan

France

Australia

Germany

Luxembourg

Switzerland

Italy

Others

Page 32: ING Funds Fact Sheets@March 2010

ING FUNDS MAR 2010

ING CHINA ACCESS

To provide long-term capital appreciation by investing in a portfolio of companies whose securities are listed on international equity markets and whose businesses are exposed to the growth of the Chinese economy.

FUND DETAILS

FUND ANALYSIS (28 Feb 2009 – 26 Feb 2010)

Beta Annualized Alpha

Annualized Sharpe Ratio**

Annualized Volatility

Fund 0.88 -0.11 1.74 23.15

Benchmark* 1.02 1.48 1.85 26.03

SECTOR ALLOCATION* (as at 25 Feb 2010)

* As percentage of NAV. Asset exposure for the fund is subject to frequent change on a daily basis

PERFORMANCE RECORD Percentage growth of investment made on 28 Feb 2009 at 26 Feb 2010 with dividend reinvested, NAV-NAV basis.

Source: Lipper Hindsight 5.43 on 8/3/10 The value of units may go down as well as up. Past performance is not

PERFORMANCE TABLE (%) (as at 26 Feb 2010) 1-mth 6-mth 1-yr

Fund 0.96 -1.62 51.31

Benchmark* 1.94 4.13 63.49

THE FUND IS SUITABLE FOR INVESTORS WHO: Seek capital appreciation by investing in a diversified equities portfo-

lio.

Have relatively high-risk profiles and can withstand significant short-term volatilities.

Have long-term investment horizon i.e. a minimum of 5 years.

Seek diversification in global equities markets.

MANAGER’S COMMENTS (Review Period: Feb 2010) The Fund registered a return of 0.96% for the month of February 2010, underperforming its benchmark which returned 1.94%. The underperfor-mance was mainly due to Fund’s stock selection during the period under review. The Fund continues to deliver exposure to a portfolio which is expected to gain from the growth of the Chinese economy.

* MSCI China 10/40 Index, **Risk-free rate: Maybank 12-mth FD rate. Source: Lipper Hindsight 5.43 on 8/3/10

* MSCI China 10/40 Index, Source: Lipper Hindsight 5.43 on 8/3/10

Unit NAV (25 Feb 2010) RM 0.4878

Highest NAV (Since Inception) RM 0.5603

Lowest NAV (Since Inception) RM 0.2672

Fund Size (25 Feb 2010) RM 59.732 mil

Fund Currency Ringgit Malaysia

Fund Inception 11 January 2008

Annual Management Fee 1.80% of NAV of the Fund

Trustee Fee 0.08% of NAV of the Fund or a minimum of RM18,000 p.a.

Exit Fee Nil

Maximum Initial Charge 6.5% of NAV per unit

Redemption Payment Period Up to 10 days

Investment Manager ING Funds Berhad

1 ING China Access Fund 94.1%

2 Collective Investment Scheme - Local

3.6%

3 FD/Cash 2.3%

This monthly factsheet is prepared by ING Funds Berhad. It is not intended to be an offer or invitation to subscribe or purchase of units. The information contained herein has been obtained from sources believed in good faith to be reliable. ING Funds Berhad makes no representation as to its accuracy or completeness and ex-pressly disclaims any liability whatsoever for any loss arising from or in reliance upon whole or any part of this document. Expressions of opinion contained in this document are those of ING Funds and its investment managers and the information contained herein is current as at the date of publication. Past performance of funds is not indicative of its future performance and prices can go down as well as up. Investment involves risk including a possible loss to the principal amount invested. Principal risks of the Fund are political/regulatory risk, portfolio management risk, foreign exchange/currency risk, premium risk, counterparty/settlement consideration, emerging market risk, price volatility risk, market trend risk, country risk and market concentration risk. A copy of the Master Prospectus incorporating ING Global Real Estate, ING Global Dividend, ING China Access and ING Global Emerging Markets Debt dated 18 July 2009 has been registered with the Securities Commission, who takes no responsibility for its contents. Investors are advised to read the Master Prospectus before investing. Application for units can only be made on receipt of a form of application referred to in and accompanying the Master Prospectus. Investors should also consider the fees and charges involved. A copy of the Master Prospectus can be obtained from ING Funds office or any of our authorized distributors listed under the corporate directory of the Master Prospectus. The fund may not be suitable for all and if in doubt investors should seek professional advice.

Fund Fact Sheet Mar 2010 Issue I Pg 32

1

2 3

Total Return From 27/02/2009 To 26/02/2010

Per

centa

ge

Gro

wth

-10

0

10

20

30

40

50

60

70

80

04/09 07/09 10/09 01/10

ING China Access = 51.3%

MSCI China 10/40 = 59.8%

Total Return From 27/02/2009 To 26/02/2010

Per

centa

ge

Gro

wth

-10

0

10

20

30

40

50

60

70

80

04/09 07/09 10/09 01/10

ING China Access = 51.3%

MSCI China 10/40 = 59.8%

Page 33: ING Funds Fact Sheets@March 2010

ING FUNDS MAR 2010

ING CHINA ACCESS

China outperformed the regional markets in February. MSCI China Index went up 2.2% in USD terms in the month. On a year to date basis, the index has come down 6.6% in USD terms. The Fund underperformed its benchmark in February. The lower sales guid-ance of Ports Design led to a share price correction of the high end apparel name. Decline in sugar prices also hurt performance of Global Bio Chem. On the positive side, overweight in the semicon-ductor company SMIC contributed positively, as did overweight in property names such as China Resources Land and China Over-seas Land. The People’s Bank of China tightened liquidity by raising commer-cial bank’s required reserve ratio another 50bps in February before the Chinese New Year, indicating that further withdrawal of liquidity may be possible down the road. On the macroeconomic front, the purchasing manager index in January declined slightly to 55.8 from 56.6 in the previous month. Exports grew 21% YoY in January while imports increased 85.5%. Inflation came in below expectation with CPI increasing 1.5% YoY. Money supply growth remained strong with M2 increasing 26% YoY while the total bank lending increased by RMB1.39tn in line with market expectations. Over the medium term, the Chinese market is still demonstrating a strong growth profile with the support of ample liquidity despite some marginal withdrawal exercise by the government. Given the strong run in the market last year and the policy headwinds, the market has corrected in February and the outlook once again looks more promising. As a result, we turned slightly more constructive than last month in our country weight in China.

TOP 10 HOLDINGS (as at 26 Feb 2010) Equities % China Mobile Ltd 10.06%

China Construction Bank - H 7.74%

Industrial & Commercial Bank of China - H 7.44%

China Life Insurance Co. - H 6.21%

CNOOC Ltd 4.97%

Bank of China Ltd - H 4.47%

PetroChina Co. Ltd - H 4.41%

Tencent Holdings Ltd 4.23%

China Petroleum & Chemical - H 4.06%

China Overseas Land and Invest 2.80%

SECTOR ALLOCATION (as at 26 Feb 2010)

REVIEW OF THE MARKET THAT ING CHINA ACCESS FUND (TARGET FUND) INVESTS IN (Review Period: Feb 2010)

Source: Commentary and target fund information provided by ING Investment Asia Pacific

Fund Fact Sheet Mar 2010 Issue I Pg 33

This monthly factsheet is prepared by ING Funds Berhad. It is not intended to be an offer or invitation to subscribe or purchase of units. The information contained herein has been obtained from sources believed in good faith to be reliable. ING Funds Berhad makes no representation as to its accuracy or completeness and ex-pressly disclaims any liability whatsoever for any loss arising from or in reliance upon whole or any part of this document. Expressions of opinion contained in this document are those of ING Funds and its investment managers and the information contained herein is current as at the date of publication. Past performance of funds is not indicative of its future performance and prices can go down as well as up. Investment involves risk including a possible loss to the principal amount invested. Principal risks of the Fund are political/regulatory risk, portfolio management risk, foreign exchange/currency risk, premium risk, counterparty/settlement consideration, emerging market risk, price volatility risk, market trend risk, country risk and market concentration risk. A copy of the Master Prospectus incorporating ING Global Real Estate, ING Global Dividend, ING China Access and ING Global Emerging Markets Debt dated 18 July 2009 has been registered with the Securities Commission, who takes no responsibility for its contents. Investors are advised to read the Master Prospectus before investing. Application for units can only be made on receipt of a form of application referred to in and accompanying the Master Prospectus. Investors should also consider the fees and charges involved. A copy of the Master Prospectus can be obtained from ING Funds office or any of our authorized distributors listed under the corporate directory of the Master Prospectus. The fund may not be suitable for all and if in doubt investors should seek professional advice.

39.14%

18.78%

12.80%

8.95%

7.81%

5.87%

3.66%

2.19%

0.80%

Financial

Energy

Telecom Services

Industrials

M aterials

Informat ion Technology

Consumer Discret ionary

Consumer Staples

Others

Page 34: ING Funds Fact Sheets@March 2010

ING FUNDS MAR 2010

ING GLOBAL EMERGING MARKETS DEBT

To provide investors with a regular income stream through investments in a diversified selection of fixed income transferable securities, money market instruments, derivatives and deposits, mainly denominated in or having 2/3 exposure to the currencies of low or middle-income develop-ing countries (“emerging markets”) in Latin America, Asia, Central Europe, Eastern Europe and Africa.

FUND DETAILS

ASSET ALLOCATION* (as at 25 Feb 2010)

* As percentage of NAV. Asset exposure for the fund is subject to frequent change on a daily basis

PERFORMANCE RECORD Percentage growth of investment made on 28 Feb 2009 at 26 Feb 2010 with dividend reinvested, NAV-NAV basis.

Source: Lipper Hindsight 5.43 on 8/3/10 The value of units may go down as well as up. Past performance is not indicative of future results.

PERFORMANCE TABLE (%) (as at 26 Feb 2010)

1-mth 6-mth 1-yr

Fund -0.71 -1.29 9.46

Benchmark* -0.14 -0.92 10.47

THE FUND IS SUITABLE FOR INVESTORS WHO: Seek long-term capital appreciation Seek regular income stream Have relatively moderate to high-risk profiles Seek diversification by investing in foreign market

MANAGER’S COMMENTS (Review Period: Feb 2010) The fund registered a return of -0.71% for the month of February 2010, outperforming its benchmark which returned -0.14%. The underperfor-mance was mainly due favourable valuation in Malaysian Ringgit of the Fund’s holdings. The Fund, despite the global volatility and tough market conditions, continues to deliver exposure to portfolio of emerging market debt securities.

* JP Morgan Emerging Local Market Index , Source: Lipper Hindsight 5.43 on 8/3/10

Unit NAV (25 Feb 2010) RM 0.5067

Fund Size (25 Feb 2010) RM 0.168 million

Fund Currency Ringgit Malaysia

Fund Inception 22 July 2008

Annual Management Fee 1.35% of NAV of the Fund

Trustee Fee 0.08% of NAV of the Fund or a minimum of RM18,000 p.a.

Exit Fee Nil

Maximum Initial Charge 2.0% of NAV per unit

Redemption Payment Period Up to 10 days

Investment Manager ING Funds Berhad

Highest NAV (Since Inception) RM 0.5167

Lowest NAV (Since Inception) RM 0.4398

Distribution policy Income will be distributed half yearly on a best effort basis, if any.

1 ING (L) Renta Fund Emerg-ing Markets Debt (Local Currency)

93.9%

2 FD/Cash 6.1%

FUND ANALYSIS (28 Feb 2009 – 26 Feb 2010)

Beta Annualized Alpha

Annualized Sharpe Ratio**

Annualized Volatility

Fund 0.95 -0.55 0.71 9.37

Benchmark* - - 1.68 4.51

* JP Morgan Emerging Local Market Index , **Risk-free rate: Maybank 12-mth FD rate. Source: Lipper Hindsight 5.43 on 8/3/10

This monthly factsheet is prepared by ING Funds Berhad. It is not intended to be an offer or invitation to subscribe or purchase of units. The information contained herein has been obtained from sources believed in good faith to be reliable. ING Funds Berhad makes no representation as to its accuracy or completeness and ex-pressly disclaims any liability whatsoever for any loss arising from or in reliance upon whole or any part of this document. Expressions of opinion contained in this document are those of ING Funds and its investment managers and the information contained herein is current as at the date of publication. Past performance of funds is not indicative of its future performance and prices can go down as well as up. Investment involves risk including a possible loss to the principal amount invested. Principal risks of the Fund are country risk, regulatory risk, foreign exchange/currency risk, interest rate risk and external fund manager risk. A copy of the Master Prospectus incorporating ING Global Real Estate, ING Global Dividend, ING China Access and ING Global Emerging Markets Debt dated 18 July 2009 has been registered with the Securities Commission, who takes no responsibility for its contents. Investors are advised to read the Master Prospectus before investing. Application for units can only be made on receipt of a form of application referred to in and accompanying the Master Prospectus. Investors should also consider the fees and charges involved. A copy of the Master Prospectus can be obtained from ING Funds office or any of our authorized distributors listed under the corporate directory of the Master Prospectus. The fund may not be suitable for all and if in doubt investors should seek professional advice.

Fund Fact Sheet Mar 2010 Issue I Pg 34

1

2

Total Return From 27/02/2009 To 26/02/2010

Per

centa

ge

Gro

wth

-5.0

-2.5

0.0

2.5

5.0

7.5

10.0

12.5

15.0

04/09 07/09 10/09 01/10

ING Global Emerging Markets Debt = 9.5%

JP Morgan ELMI+ = 10.5%

Total Return From 27/02/2009 To 26/02/2010

Per

centa

ge

Gro

wth

-5.0

-2.5

0.0

2.5

5.0

7.5

10.0

12.5

15.0

04/09 07/09 10/09 01/10

ING Global Emerging Markets Debt = 9.5%

JP Morgan ELMI+ = 10.5%

Page 35: ING Funds Fact Sheets@March 2010

ING FUNDS MAR 2010

ING GLOBAL EMERGING MARKETS DEBT

REVIEW OF THE MARKET & ING (L) RENTA FUND EMERGING MARKETS DEBT (LOCAL CURRENCY) (TARGET FUND (Review Period: Feb 2010)

TOP 10 BOND HOLDINGS (as at 26 Feb 2010)

%

Petronas Capital Ltd 5.00

Naftogaz Ukraine 3.36

Kazmunaigaz Finance Sub 2.85

Republic Of Indonesia 2.78

Russia Foreign Bond 2.78

Petroleos De Venezuela S 2.27

Us Long Bond Fut (cbt) 21/06/2010 2.22

Fed Republic of Brazil 2.03

Republic of Turkey 1.83

Kazmuniagaz Finance Sub 1.71

Source: Commentary and target fund information provided by ING Invest-ment Europe

Aggregate S&P Rating

Interest Rate Exposure

Fund Fact Sheet Mar 2010 Issue I Pg 35

This monthly factsheet is prepared by ING Funds Berhad. It is not intended to be an offer or invitation to subscribe or purchase of units. The information contained herein has been obtained from sources believed in good faith to be reliable. ING Funds Berhad makes no representation as to its accuracy or completeness and ex-pressly disclaims any liability whatsoever for any loss arising from or in reliance upon whole or any part of this document. Expressions of opinion contained in this document are those of ING Funds and its investment managers and the information contained herein is current as at the date of publication. Past performance of funds is not indicative of its future performance and prices can go down as well as up. Investment involves risk including a possible loss to the principal amount invested. Principal risks of the Fund are country risk, regulatory risk, foreign exchange/currency risk, interest rate risk and external fund manager risk. A copy of the Master Prospectus incorporating ING Global Real Estate, ING Global Dividend, ING China Access and ING Global Emerging Markets Debt dated 18 July 2009 has been registered with the Securities Commission, who takes no responsibility for its contents. Investors are advised to read the Master Prospectus before investing. Application for units can only be made on receipt of a form of application referred to in and accompanying the Master Prospectus. Investors should also consider the fees and charges involved. A copy of the Master Prospectus can be obtained from ING Funds office or any of our authorized distributors listed under the corporate directory of the Master Prospectus. The fund may not be suitable for all and if in doubt investors should seek professional advice.

3.25%

1.37%

8.67%

31.45%

31.50%

8.73%

1.12%

0.12%

13.79%

AAA

AA

A

BBB

BB

B

CCC

D

Others

6.10%

1.90%

13.30%

6.90%

34.10%

37.70%

0 - 1 year

1 - 3 years

3 - 5 years

5 - 7 years

7 - 10 years

> 10 years

The ELMI+ benchmark generated a flat total return in dollars during the reporting period in a generally strong USD environment. Per-formance was strongest in Latin America, outside the Southern Cone. Particularly the euro-linked currencies witnessed weak per-formances in dollar terms on the back of debt sustainability con-cerns in some of the Euro zone countries, but also Turkey on the back of domestic issues. The benchmark yield did not change mate-rially, as Hungary, Romania and Russia again lowered their policy rates during the reporting period. Europe is clearly lagging many Asian and Latin American countries in the monetary cycle, where rate hikes have been incorporated in most forecast scenarios. The portfolio outperformed the benchmark. The exposure in Asia delivered as expected, with gains spread pretty much across all overweight positions, adding up to considerable levels of outperfor-mance overall. Elsewhere, the risks are much more concentrated; e.g. the sizeable overweight in Polish zloty stands out as the major contributor to relative performance in CEEMEA. The same goes for the Mexican peso in the Latin American context. The run on lower risk rates positions resulted in only limited contribution to overall performance, but remained positive as well. Our outlook for the asset class did not change materially during the reporting period. We remain moderately positive on the back of supportive trends in economic fundamentals, both globally and in emerging economies. At the margin we reduced our economic out-look for the European Union economy towards neutral due to sover-eign debt risks that may translate into slower growth. The outlook for foreign direct investment and portfolio flows into emerging mar-kets continues to be constructive for the asset class. Reduced carry potential is offset by extremely low G3 currency yields that add to the attractiveness of carry trades. In terms of rates, we argue that the monetary easing cycle is effectively completed in most emerging economies. Some local yield curves have priced in policy rate hikes quite aggressively, which could provide for interesting alpha oppor-tunities during this calendar year.

Page 36: ING Funds Fact Sheets@March 2010

Lipper Ratings as at 26 Feb 2010

Definitions • Sharpe Ratio Sharpe Ratio measures risk-adjusted return of the fund. It gives information as to whether the fund manager has been successful in delivering higher return for each unit of risk taken • Alpha Alpha measures the fund return in comparison to the market. It measures the fund's actual return against the fund's expected return given the risk of the fund as defined by its beta. Positive alpha = return of a fund exceeded market expectation. High Alpha = the fund’s return is higher than the market. E.g. Alpha 1.85 = the fund return is 1.85% higher than the market return. • Beta Beta measures the volatility of a fund/portfolio relative to its benchmark. Beta = 1.0 @ a fund/portfolio’s price will move with the benchmark. Beta > 1 @ a fund/portfolio price will be more volatile than the benchmark. If a stock's beta is 1.2, it is theoretically 20% more volatile than the benchmark. Negative Beta means the fund’s/portfolio’s return moves in an opposite direction relative to the benchmark. • Volatility Volatility is a statistical measure of a market or stock or fund to rise or fall within a short period of time. It is an indicator of the risk of an invest-ment. The greater the performance range, the higher the volatility of the fund and therefore the greater the risk of the fund.

This monthly factsheet is prepared by ING Funds Berhad. It is not intended to be an offer or invitation to subscribe or purchase of units. The information contained herein has been obtained from sources believed in good faith to be reliable. ING Funds Berhad makes no representation as to its accuracy or completeness and expressly disclaims any liability whatsoever for any loss arising from or in reliance upon whole or any part of this document. Expressions of opinion contained in this document are those of ING Funds and its investment managers and the information contained herein is current as at the date of publication. Past performance of funds is not indicative of its future performance. The price of units and distribution payable, if any, may go down as well as up. Investment in-volves risk including a possible loss to the principal amount invested. Please read the Master and Supplementary Master Prospectus for principal risks of investing in the respective funds. A copy of the Master Prospectus incorporating, ING OneAnswerTM Investment Funds, ING i -Enhanced Cash and ING Cash Plus dated 23 April 2009 and Supplementary Master Prospectus incorporating ING OneAnswerTM Investment Funds, ING i -Enhanced Cash and ING Cash Plus dated 16 October 2009 have been registered with the Securities Commission, who takes no responsibility for its contents. Investors are advised to read the Prospectus before invest-ing. Application for units can only be made on receipt of a form of application referred to in and accompanying the Master Supplementary Prospectus. Investors should also consider the fees and charges involved. A copy of the Master & Supplementary Master Prospectuses can be obtained from ING Funds office or any of our authorized distributors listed under the corporate directory of the Master Prospectus. The fund may not be suitable for all and if in doubt investors should seek professional advice.

Fund Fact Sheet Mar 2010 Issue I Pg 36

Consistent Return Capital Preservation Total Return

3 Years 3 Years 3 Years

ING Income Plus 2 2 1

ING Bon Islam 2 4 2

ING Managed Growth 2 4 2

ING Diversified 1 2 1

ING Shariah Balanced 1 4 1

ING Blue Chip 2 3 3

ING Growth Opportunities 1 1 1

ING Tactical 1 2 1

ING Ekuiti Islam 1 2 2

Consistent Return = Risk-Adjusted Returns relative to peers in the category, Capital Preservation = Historical capital preservation within the same asset class, Total Return = Total return performance relative to peers . Returns calculated based on NAV-to-NAV and income reinvested. Lipper Lead-ers have Changed As of 7 Nov 08, the Lipper Leaders Rating System changed. While the formulas and the underlying methodology remain the same, the numeric organization of the system changed so that the highest 20% are rated 5 or Lipper Leaders and the lowest 20% are rated 1 for each measure. Lipper Ratings are given to funds with minimum 3 years track record. Source: Lipper Hindsight 5.43 on 11 Feb 2010.