ING BALANCED PORTFOLIO, INC.
ING INTERMEDIATE BOND PORTFOLIO
ING INVESTORS TRUST
ING MONEY MARKET PORTFOLIO
ING PARTNERS, INC.
ING STRATEGIC ALLOCATION PORTFOLIOS, INC.
ING VARIABLE FUNDS
ING VARIABLE INSURANCE TRUST
ING VARIABLE PORTFOLIOS, INC.
ING VARIABLE PRODUCTS TRUST
(the Registrants)
Supplement dated August 7, 2013 to the
Current Prospectuses
for each Series of the above named Registrants
(collectively, the Portfolios)
Effective immediately, the Registrants current Prospectuses are hereby revised as follows:
1.
ING American Century Small-Mid Cap Value Portfolio |
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ING JPMorgan Small Cap Core Equity Portfolio |
ING American Funds World Allocation Portfolio |
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ING Large Cap Growth Portfolio |
ING Australia Index Portfolio |
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ING Large Cap Value Portfolio |
ING Balanced Portfolio |
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ING Limited Maturity Bond Portfolio |
ING Baron Growth Portfolio |
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ING Liquid Assets Portfolio |
ING BlackRock Health Sciences Opportunities Portfolio |
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ING Marsico Growth Portfolio |
ING BlackRock Inflation Protected Bond Portfolio |
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ING MFS Total Return Portfolio |
ING BlackRock Large Cap Growth Portfolio |
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ING MFS Utilities Portfolio |
ING Bond Portfolio |
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ING MidCap Opportunities Portfolio |
ING Clarion Global Real Estate Portfolio |
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ING Money Market Portfolio |
ING Clarion Real Estate Portfolio |
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ING Morgan Stanley Global Franchise Portfolio |
ING Columbia Contrarian Core Portfolio |
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ING Multi-Manager Large Cap Core Portfolio |
ING Columbia Small Cap Value II Portfolio |
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ING Oppenheimer Global Portfolio |
ING DFA Global Allocation Portfolio |
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ING PIMCO High Yield Portfolio |
ING DFA World Equity Portfolio |
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ING PIMCO Total Return Bond Portfolio |
ING Emerging Markets Index Portfolio |
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ING PIMCO Total Return Portfolio |
ING Euro STOXX 50® Index Portfolio |
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ING Pioneer High Yield Portfolio |
ING FMRSM Diversified Mid Cap Portfolio |
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ING Pioneer Mid Cap Value Portfolio |
ING Franklin Income Portfolio |
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ING Retirement Conservative Portfolio |
ING Franklin Mutual Shares Portfolio |
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ING Retirement Growth Portfolio |
ING FTSE 100 Index® Portfolio |
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ING Retirement Moderate Growth Portfolio |
ING GET U.S. Core Portfolio - Series 13 |
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ING Retirement Moderate Portfolio |
ING GET U.S. Core Portfolio - Series 14 |
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ING Russell Large Cap Growth Index Portfolio |
ING Global Bond Portfolio |
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ING Russell Large Cap Index Portfolio |
ING Global Perspectives Portfolio |
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ING Russell Large Cap Value Index Portfolio |
ING Global Resources Portfolio |
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ING Russell Mid Cap Growth Index Portfolio |
ING Global Value Advantage Portfolio |
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ING Russell Mid Cap Index Portfolio |
ING Goldman Sachs Commodity Strategy Portfolio |
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ING Russell Small Cap Index Portfolio |
ING Growth and Income Portfolio |
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ING Small Company Portfolio |
ING Hang Seng Index Portfolio |
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ING SmallCap Opportunities Portfolio |
ING Index Plus LargeCap Portfolio |
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ING Strategic Allocation Conservative Portfolio |
ING Index Plus MidCap Portfolio |
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ING Strategic Allocation Growth Portfolio |
ING Index Plus SmallCap Portfolio |
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ING Strategic Allocation Moderate Portfolio |
ING Intermediate Bond Portfolio |
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ING T. Rowe Price Capital Appreciation Portfolio |
ING International Index Portfolio |
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ING T. Rowe Price Diversified Mid Cap Growth Portfolio |
ING International Value Portfolio |
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ING T. Rowe Price Equity Income Portfolio |
ING Invesco Comstock Portfolio |
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ING T. Rowe Price Growth Equity Portfolio |
ING Invesco Equity and Income Portfolio |
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ING T. Rowe Price International Stock Portfolio |
ING Invesco Growth and Income Portfolio |
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ING Templeton Foreign Equity Portfolio |
ING Japan TOPIX Index® Portfolio |
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ING Templeton Global Growth Portfolio |
ING JPMorgan Emerging Markets Equity Portfolio |
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ING U.S. Bond Index Portfolio |
ING JPMorgan Mid Cap Value Portfolio |
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ING U.S. Stock Index Portfolio |
With respect to the Portfolios listed in the table above, the second, third, and fourth paragraphs of the sub-section entitled The Sub-Adviser(s) and Portfolio Managers of each Prospectus, is hereby deleted in its entirety and replaced with the following:
The Adviser(s) act as a manager-of-managers for the Portfolio(s). The Adviser(s) have ultimate responsibility, subject to the oversight of the Portfolio(s) Board, to oversee any sub-advisers and to recommend the hiring, termination, or replacement of sub-advisers. The Portfolio(s) and the Adviser(s) have received exemptive relief from the SEC which permits the Adviser(s), with the approval of the Portfolio(s) Board but without obtaining shareholder approval, to enter into or materially amend a sub-advisory agreement with sub-advisers that are not affiliated with the Adviser(s) (non-affiliated sub-advisers) as well as sub-advisers that are indirect or direct, wholly-owned subsidiaries of the Adviser(s) or of another company that, indirectly or directly wholly owns the Adviser(s) (wholly-owned sub-advisers).
Consistent with the manager-of-managers structure, the Adviser(s) delegate to the sub-advisers of the Portfolio(s) the responsibility for day-to-day investment management or for asset allocation amongst the underlying funds, as applicable, subject to the Adviser(s) oversight. The Adviser(s) are responsible for, among other things, monitoring the investment program and performance of the sub-advisers of the Portfolio(s). Pursuant to the exemptive relief, the Adviser(s), with the approval of the Portfolio(s) Board, have the discretion to terminate any sub-adviser (including terminating a non-affiliated sub-adviser and replacing it with a wholly-owned sub-adviser), and to allocate and reallocate a Portfolios assets among other sub-advisers. In these instances, the Adviser(s) may have an incentive to select or retain an affiliated sub-adviser. In the event that the Adviser(s) exercise its/their discretion to replace a sub-adviser of the Portfolio(s) or add a new sub-adviser to the Portfolio(s), the Portfolio(s) will provide shareholders with information about the new sub-adviser and the new sub-advisory agreement within 90 days. The appointment of a new sub-adviser or the replacement of an existing sub-adviser may be accompanied by a change to the name of a Portfolio and a change to the investment strategies of the Portfolio.
Under the terms of each sub-advisory agreement, the agreement can be terminated by the (applicable) Adviser or a Portfolios Board. In the event a sub-advisory agreement is terminated, the sub-adviser may be replaced subject to any regulatory requirements or the Adviser(s) may assume day-to-day investment management of a Portfolio.
The manager-of-managers structure and reliance on the exemptive relief has been approved by the/each Portfolios shareholders.
2.
ING American Funds Asset Allocation Portfolio |
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ING Franklin Templeton Founding Strategy Portfolio |
ING American Funds Global Growth and Income Portfolio |
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ING Fidelity® VIP Contrafund® Portfolio |
ING American Funds International Growth and Income Portfolio |
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ING Fidelity® VIP Equity-Income Portfolio |
ING American Funds International Portfolio |
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ING Fidelity® VIP Mid Cap Portfolio |
With respect to the Portfolios listed in the table above, the second and third paragraphs of the sub-section entitled Manager-of-Managers Structure of each Prospectus, is hereby deleted in its entirety and replaced with the following:
The Adviser may act as a manager-of-managers for the Portfolio(s). The Adviser has ultimate responsibility, subject to the oversight of the Portfolio(s) Board, to oversee any sub-advisers and to recommend the hiring, termination, or replacement of sub-advisers. The Portfolio(s) and the Adviser have received exemptive relief from the SEC which permits the Adviser, with the approval of the Portfolio(s) Board but without obtaining shareholder approval, to enter into or materially amend a sub-advisory agreement with sub-advisers that are not affiliated with the Adviser (non-affiliated sub-advisers) as well as sub-advisers that are indirect or direct, wholly-owned subsidiaries of the Adviser or of another company that, indirectly or directly wholly owns the Adviser(s) (wholly-owned sub-advisers).
Consistent with the manager-of-managers structure, the Adviser may delegate to the sub-advisers of the Portfolio(s) the responsibility for day-to-day investment management, subject to the Advisers oversight. The Adviser is responsible for, among other things, monitoring the investment program and performance of the sub-advisers of the Portfolio(s). Pursuant to the exemptive relief, the Adviser, with the approval of the Portfolio(s) Board, has the discretion to terminate any sub-adviser (including terminating a non-affiliated sub-adviser and replacing it with a wholly-owned sub-adviser), and to allocate and reallocate a Portfolios assets among other sub-advisers. In these instances, the Adviser may have an incentive to select or retain an affiliated sub-adviser. In the event that the Adviser exercises its discretion to replace a sub-adviser of the Portfolio(s) or add a new sub-adviser to the Portfolio(s), the Portfolio(s) will provide shareholders with information about the new sub-adviser and the new sub-advisory agreement within 90 days. The appointment of a new sub-adviser or the replacement of an existing sub-adviser may be accompanied by a change to the name of a Portfolio and a change to the investment strategies of the Portfolio.
Under the terms of each sub-advisory agreement, the agreement can be terminated by the Adviser or a Portfolios Board. In the event a sub-advisory agreement is terminated, the sub-adviser may be replaced subject to any regulatory requirements or the Adviser may assume day-to-day investment management of a Portfolio.
The manager-of-managers structure and reliance on the exemptive relief has been approved by the/each Portfolios shareholders.
3.
ING Index Solution 2015 Portfolio |
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ING Solution 2030 Portfolio |
ING Index Solution 2020 Portfolio |
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ING Solution 2035 Portfolio |
ING Index Solution 2025 Portfolio |
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ING Solution 2040 Portfolio |
ING Index Solution 2030 Portfolio |
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ING Solution 2045 Portfolio |
ING Index Solution 2035 Portfolio |
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ING Solution 2050 Portfolio |
ING Index Solution 2040 Portfolio |
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ING Solution 2055 Portfolio |
ING Index Solution 2045 Portfolio |
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ING Solution Aggressive Portfolio |
ING Index Solution 2050 Portfolio |
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ING Solution Balanced Portfolio |
ING Index Solution 2055 Portfolio |
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ING Solution Conservative Portfolio |
ING Index Solution Income Portfolio |
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ING Solution Income Portfolio |
ING Solution 2015 Portfolio |
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ING Solution Moderately Aggressive Portfolio |
ING Solution 2020 Portfolio |
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ING Solution Moderately Conservative Portfolio |
ING Solution 2025 Portfolio |
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With respect to the Portfolios listed in the table above, the fourth and fifth paragraphs of the sub-section entitled Management Fees of each Prospectus, is hereby deleted in its entirety and replaced with the following:
The Sub-Adviser and Portfolio Managers
The Adviser has engaged a sub-adviser to provide the day-to-day management of the Portfolios portfolio. The sub-adviser is an affiliate of the Adviser.
The Adviser acts as a manager-of-managers for the Portfolios. The Adviser has ultimate responsibility, subject to the oversight of the Portfolios Board, to oversee any sub-advisers and to recommend the hiring, termination, or replacement of sub-advisers. The Portfolios and the Adviser have received exemptive relief from the SEC which permits the Adviser, with the approval of the Portfolios Board but without obtaining shareholder approval, to enter into or materially amend a sub-advisory agreement with sub-advisers that are not affiliated with the Adviser (non-affiliated sub-advisers) as well as sub-advisers that are indirect or direct, wholly-owned subsidiaries of the Adviser or of another company that, indirectly or directly wholly owns the Adviser (wholly-owned sub-advisers).
Consistent with the manager-of-managers structure, the Adviser delegates to the sub-advisers of the Portfolios the responsibility for asset allocation amongst the underlying funds, subject to the Advisers oversight. The Adviser is responsible for, among other things, monitoring the investment program and performance of the sub-advisers of the Portfolios. Pursuant to the exemptive relief, the Adviser, with the approval of the Portfolios Board, has the discretion to terminate any sub-adviser (including terminating a non-affiliated sub-adviser and replacing it with a wholly-owned sub-adviser), and to allocate and reallocate a Portfolios assets among other sub-advisers. In these instances, the Adviser may have an incentive to select or retain an affiliated sub-adviser. In the event that the Adviser exercises its discretion to replace a sub-adviser of the Portfolios or add a new sub-adviser to the Portfolios, the Portfolios will provide shareholders with information about the new sub-adviser and the new sub-advisory agreement within 90 days. The appointment of a new sub-adviser or the replacement of an existing sub-adviser may be accompanied by a change to the name of a Portfolio and a change to the investment strategies of the Portfolio.
Under the terms of each sub-advisory agreement, the agreement can be terminated by the Adviser or a Portfolios Board. In the event a sub-advisory agreement is terminated, the sub-adviser may be replaced subject to any regulatory requirements or the Adviser may assume day-to-day investment management of a Portfolio.
The manager-of-managers structure and reliance on the exemptive relief has been approved by the/each Portfolios shareholders.
PLEASE RETAIN THIS SUPPLEMENT FOR FUTURE REFERENCE