Société d'investissement à Capital Variable Semi-annual report, and unaudited financial statements as at 30/06/17 RCS Luxembourg N B191.547 Database Publishing System: CO-Reporter by CO-Link, Belgium.
Table of Contents Organisation 3 Combined 5 ING Fund - ING Private Banking Optimal Selection Pure Bonds 7 Statement of net assets 8 Key figures 8 Securities portfolio 9 ING Fund - ING Private Banking Optimal Selection Pure Equity 10 Statement of net assets 11 Key figures 11 Securities portfolio 13 ING Fund - ING Private Banking Optimal Selection Balanced 14 Statement of net assets 15 Key figures 15 Securities portfolio 16 ING Fund - ING Private Banking Optimal Selection Moderate 17 Statement of net assets 18 Key figures 18 Securities portfolio 20 Additional information 21 Page Subscriptions can only be received on the basis of the latest prospectus and the most recent annual report including audited financial statements of the Company as well as the latest semi-annual report and unaudited financial statements, if published thereafter. The details of the changes in portfolio composition for the period ended June 30, 2017 are at the disposal of the shareholders at the registered office of the Company and are available upon request free of charge. Page 2
Organisation Registered Office 5, allée Scheffer L-2520 Luxembourg, Grand Duchy of Luxembourg Board of Directors of the Company Chairman Directors Mr Thierry Masset Chief Investment Officer ING Belgique S.A. Mr Christian Steeno Head of Product Management Savings & Investments ING Belgique S.A. Mme Sandrine De Vuyst (until 27 February 2017) Chief Investment Officer ING Luxembourg S.A. Mr Piet Van den Hoof Head of Mutual Funds ING Belgique S.A. Mr Philippe Wallez Managing Director ING Belgique S.A. Management Company ING Solutions Investment Management S.A. Registered office (until 31 March 2017): 48, route d'esch L-2965 Luxembourg, Grand Duchy of Luxembourg Registered office (as from 1 st April 2017): 26, Place de la Gare L-1616 Luxembourg, Grand Duchy of Luxembourg Supervisory Board of the Management Company Management Board of the Management Company Thierry Masset Chief Investment Officer ING Belgium S.A. Eric Chinchon Independent Director Wouter Gesquière Commercial Head Private Banking ING Luxembourg S.A. Frederic de Valkeneer (until 30 April, 2017) Conducting Officer ING Solutions Investment Management S.A. Sebastien de Villenfagne Conducting Officer ING Solutions Investment Management S.A. Sandrine Jankowski Conducting Officer ING Solutions Investment Management S.A. Page 3
Organisation (continued) Investment Manager Depositary and Paying Agent Administration and Domiciliary Agent Global Distributor Auditors ING Belgique S.A. Avenue Marnix 24 B-1000 Brussels, Belgium ING Luxembourg S.A. Registered office (until 17 April 2017): 52, route d'esch L-2965 Luxembourg, Grand Duchy of Luxembourg Registered office (as from 18 April 2017): 26, Place de la Gare L-1616 Luxembourg, Grand Duchy of Luxembourg CACEIS Bank, Luxembourg Branch 5, allée Scheffer L-2520 Luxembourg, Grand Duchy of Luxembourg ING Belgique S.A. Avenue Marnix 24 B-1000 Brussels, Belgium Deloitte Audit Société à responsabilité limitée 560, rue de Neudorf L - 2220 Luxembourg, Grand Duchy of Luxembourg Page 4
Combined Page 5
Combined Financial Statements as at 30/06/17 Statement of net assets as at 30/06/17 Expressed in Assets Securities portfolio at market value Cost price Unrealised profit on the securities portfolio Cash at bank and liquidities Subscriptions receivable Dividends receivable Liabilities Redemptions payable Accrued management fees Other liabilities Net asset value 1,886,129,144.88 1,852,535,655.54 1,802,675,424.74 49,860,230.80 28,822,572.88 3,903,804.53 867,111.93 11,971,277.86 601,352.03 10,221,415.19 1,148,510.64 1,874,157,867.02 Page 6
- ING Private Banking Optimal Selection Pure Bonds Page 7
- ING Private Banking Optimal Selection Pure Bonds Financial Statements as at 30/06/17 Statement of net assets as at 30/06/17 Expressed in Assets Securities portfolio at market value Cost price Unrealised profit on the securities portfolio Cash at bank and liquidities Subscriptions receivable Liabilities Redemptions payable Accrued management fees Other liabilities Net asset value 593,896,329.35 583,464,748.55 579,806,564.04 3,658,184.51 9,853,613.50 577,967.30 2,330,371.29 160,936.77 1,798,937.13 370,497.39 591,565,958.06 Key figures Year/Period ended as at: 30/06/17 31/12/16 31/12/15 Total Net Assets 591,565,958.06 625,333,940.47 524,452,698.22 Class A Class B Class S Capitalisation shares Capitalisation shares 39,114.00 36,15 258.05 259.63 1,030,54 1,077,273.00 500.84 3.77 507.66 7.62 34,005.00 252.51 358.10 341.30 51,485.78 51,750.74 937.00 1,014.00 50,056.91 376.41 50,690.27 695.70 959,645.00 501.17 3.75 70 49,880.56 Page 8
Quantity ING Fund - ING Private Banking Optimal Selection Pure Bonds Denomination Securities portfolio as at 30/06/17 Expressed in Quotation currency Market value % of net assets Shares/Units of UCITS/UCIS 583,464,748.55 98.63 Shares/Units in investment funds 583,464,748.55 98.63 Luxembourg 413,648,914.89 69.92 219,734 AWF GI SD BD -M HEDGED (95%)- CAP 22,256,859.29 3.76 292,136 AXA WD GL INF SH DUR-MCAP 25,567,495.45 4.32 2,358,411 BGF BD -X2- CAP 73,440,923.21 12.41 363,774 BRSF FIX IN STR -X2- CAP 47,508,866.12 8.03 146,993 GS GL STR IN BD -IS (-HEDGED) DIS 14,793,424.63 2.50 46,916 KEMPEN INTL LUX O CREDIT FUND -I- CAP 64,705,057.21 10.94 48,060,503 L G O CORPORATE BD-I ACC 52,924,225.66 8.95 5,849 NN LL IB 3M -B- CAP 6,016,950.47 1.02 283,802 NORDEA 1 EMERG MKT BD-BI-BASE 34,465,334.67 5.83 594,812 R CAP EU GV BD -2IH - CAP 60,349,608.58 10.20 80,489 UBAM GLOBAL HIGH YIELD SOLUTION -I- CAP 11,620,169.60 1.96 Ireland 94,137,255.47 15.91 453,324 ISHS CO COR SHS ETF 58,768,923.36 9.93 278,817 ISHS GLB CO BD SHS HEDGED ETF 29,475,139.16 4.98 54,897 ISHS HY CORP BD 5,893,192.95 1.00 France 67,184,597.22 11.36 256 AMUNDI 3-6 M I 26,217,269.18 4.43 40,774 NATIXIS SOUVERAINS O SN 4DEC 40,967,328.04 6.93 United States of America 8,493,980.97 1.44 71,025 ISHARES TR BARCLAYS 10-20 TREASURY BD 8,493,980.97 1.44 Total securities portfolio 583,464,748.55 98.63 Page 9
- ING Private Banking Optimal Selection Pure Equity Page 10
- ING Private Banking Optimal Selection Pure Equity Financial Statements as at 30/06/17 Statement of net assets as at 30/06/17 Expressed in Assets Securities portfolio at market value Cost price Unrealised profit on the securities portfolio Cash at bank and liquidities Subscriptions receivable Dividends receivable Liabilities Redemptions payable Accrued management fees Other liabilities Net asset value 756,788,871.10 746,612,051.46 708,760,104.12 37,851,947.34 7,388,379.79 2,111,208.09 677,231.76 7,063,979.44 440,415.26 6,143,079.46 480,484.72 749,724,891.66 Key figures Year/Period ended as at: 30/06/17 31/12/16 31/12/15 Total Net Assets 749,724,891.66 704,188,479.37 591,867,701.52 Class A Class B Class S Class T Capitalisation shares Capitalisation shares 284,47 248,559.00 294.82 284.09 1,008,495.00 970,645.50 569.22 6.12 554.39 8.63 158,453.00 274.96 789.60 693.00 51,487.79 49,515.48 853.50 594.50 50,818.02 546.16 49,398.42 739.59 910,499.00 545.54 4.28 15 177.00 51,819.47 556.63 50,302.98 407.06 298.00 47,722.20 611.00 48,384.85 16 48,771.70 Page 11
- ING Private Banking Optimal Selection Pure Equity Key figures Year/Period ended as at: 30/06/17 31/12/16 31/12/15 Total Net Assets 749,724,891.66 704,188,479.37 591,867,701.52 Class U Capitalisation shares 389.00 58,794.49 Page 12
Quantity ING Fund - ING Private Banking Optimal Selection Pure Equity Denomination Securities portfolio as at 30/06/17 Expressed in Quotation currency Market value % of net assets Shares/Units of UCITS/UCIS 746,612,051.46 99.58 Shares/Units in investment funds 746,612,051.46 99.58 Luxembourg 367,424,057.92 49.00 14,103 AGIF OPE EQUITY GROWTH WT CAP 33,942,726.37 4.53 3,375,150 BGF EU VAL -X2- CAP 34,089,011.47 4.55 1,046,146 BGF O MKT X CAP 34,146,203.48 4.55 304,912 D INV I T EULD -IC-CAP 37,589,604.37 5.01 28,775 ELEVA O SEL -I2 () CAP 33,583,878.00 4.48 1,319,705 FID EM -I-ACC- CAP 15,400,702.66 2.05 435,094 FRANKLIN TEMPLETON INV ASIAN SMALLER CO I- Acc- 18,963,225.58 2.53 2,244,850 HEN HOR P OPEAN EQ -G2- CAP 30,462,612.64 4.06 2,840,265 HEND HOR OL -G2- CAP 37,633,509.55 5.02 242,650 JPMF EU EQ PL-JPM I (PERF) CAP 25,376,297.78 3.38 37,342 OL SH BC USSVTR -UCITS ETF 1C()- CAP 18,796,231.82 2.51 386,540 UBS ETF MSCI EM -A DIS (DE) 47,440,054.20 6.33 Ireland 301,824,555.10 40.26 1,908,098 DBX SP EW DR ETF 1C 75,919,062.94 10.13 873,680 GAM STAR FD PLC CHN EQ -INS- CAP 11,603,463.29 1.55 529,721 ISHS MSC EM LAT SHS ETF 7,660,995.05 1.02 665,883 ISHS MSCI EM CAP 15,220,349.66 2.03 86,594 SM GS EQ IN GERMAN CERT 11,318,701.74 1.51 1,582,114 SPDR SP DIV - ETF 37,242,963.56 4.97 1,066,507 SPDR SP US DI ETF 44,818,447.69 5.98 2,430,345 VANGUARD SP500 UCITS ETF 98,040,571.17 13.07 Germany 77,363,438.44 10.32 2,355,062 ISHARES NIKKEI 225 (DE) 36,710,706.46 4.90 2,218,067 ISHARES STOXX OPE 600 BANKS (DE) 40,652,731.98 5.42 Total securities portfolio 746,612,051.46 99.58 Page 13
- ING Private Banking Optimal Selection Balanced Page 14
- ING Private Banking Optimal Selection Balanced Financial Statements as at 30/06/17 Statement of net assets as at 30/06/17 Expressed in Assets Securities portfolio at market value Cost price Unrealised profit on the securities portfolio Cash at bank and liquidities Subscriptions receivable Dividends receivable Liabilities Accrued management fees Other liabilities Net asset value 275,299,502.54 264,295,885.51 258,893,626.51 5,402,259.00 9,821,128.21 1,057,821.03 124,667.79 1,467,880.37 1,312,475.26 155,405.11 273,831,622.17 Key figures Year/Period ended as at: 30/06/17 31/12/16 31/12/15 Total Net Assets 273,831,622.17 215,727,103.06 122,279,322.37 Class A Class B Class S Class T Capitalisation shares Capitalisation shares Capitalisation shares 52,02 46,309.00 276.05 272.31 365,592.00 305,287.00 535.40 4.14 532.22 7.70 22,999.00 265.28 56.00 46.00 50,510.80 49,753.03 1,096.00 656.00 50,023.04 387.50 49,652.60 662.84 191,312.00 526.27 4.03 117.00 113.00 51,951.28 51,128.70 317.00 48,887.02 Page 15
Quantity Denomination ING Fund - ING Private Banking Optimal Selection Balanced Securities portfolio as at 30/06/17 Expressed in Quotation currency Market value % of net assets Shares/Units of UCITS/UCIS 264,295,885.51 96.52 Shares/Units in investment funds 264,295,885.51 96.52 Luxembourg 151,238,341.31 55.23 2,614 AGIF OPE EQUITY GROWTH WT CAP 6,290,814.08 2.30 33,789 AWF GI SD BD -M HEDGED (95%)- CAP 3,422,470.59 1.25 46,312 AXA WD GL INF SH DUR-MCAP 4,053,171.17 1.48 625,537 BGF EU VAL -X2- CAP 6,317,925.32 2.31 369,297 BGF BD -X2- CAP 11,499,900.48 4.19 193,889 BGF O MKT X CAP 6,328,524.88 2.31 56,736 BRSF FIX IN STR -X2- CAP 7,409,688.95 2.71 56,530 D INV I T EULD -IC-CAP 6,969,073.26 2.55 5,315 ELEVA O SEL -I2 () CAP 6,203,242.80 2.27 244,579 FID EM -I-ACC- CAP 2,854,186.80 1.04 79,464 FRANKLIN TEMPLETON INV ASIAN SMALLER CO I- Acc- 3,463,357.09 1.26 22,856 GS GL STR IN BD -IS (-HEDGED) DIS 2,300,180.24 0.84 415,081 HEN HOR P OPEAN EQ -G2- CAP 5,632,644.16 2.06 526,582 HEND HOR OL -G2- CAP 6,977,213.18 2.55 87,968 HENDERSON HORIZON PAN OP.PROP-I2- CAP 4,021,919.00 1.47 44,935 JPMF EU EQ PL-JPM I (PERF) CAP 4,699,337.44 1.72 7,301 KEMPEN INTL LUX O CREDIT FUND -I- CAP 10,069,255.26 3.67 7,478,350 L G O CORPORATE BD-I ACC 8,235,158.91 3.01 7,148 NN LL IB 3M -B- CAP 7,353,004.68 2.69 44,560 NORDEA 1 EMERG MKT BD-BI-BASE 5,411,441.01 1.98 6,923 OL SH BC USSVTR -UCITS ETF 1C()- CAP 3,484,717.29 1.27 93,005 R CAP EU GV BD -2IH - CAP 9,436,336.41 3.44 1,196,755 STRUCT GSQUARTIX MODIF STR-C- 8,205,673.17 3.00 12,531 UBAM GLOBAL HIGH YIELD SOLUTION -I- CAP 1,809,059.81 0.66 71,621 UBS ETF MSCI EM -A DIS (DE) 8,790,045.33 3.20 Ireland 74,400,755.67 27.17 352,976 DBX SP EW DR ETF 1C 14,044,146.14 5.13 161,979 GAM STAR FD PLC CHN EQ -INS- CAP 2,151,269.96 0.79 70,645 ISHS CO COR SHS ETF 9,158,417.80 3.34 179,284 ISHS DEVELOPED MARKETS PROPERTY YIELD UC 3,977,415.54 1.45 43,448 ISHS GLB CO BD SHS HEDGED ETF 4,593,105.32 1.68 8,025 ISHS HY CORP BD 861,483.75 0.31 97,237 ISHS MSC EM LAT SHS ETF 1,406,272.69 0.51 122,840 ISHS MSCI EM CAP 2,807,802.20 1.03 15,948 SM GS EQ IN GERMAN CERT 2,084,563.08 0.76 292,652 SPDR SP DIV - ETF 6,889,028.08 2.52 197,095 SPDR SP US DI ETF 8,282,638.51 3.02 449,790 VANGUARD SP500 UCITS ETF 18,144,612.60 6.63 France 22,986,188.28 8.39 162 AMUNDI 3-6 M I 16,586,460.68 6.05 6,370 NATIXIS SOUVERAINS O SN 4DEC 6,399,727.60 2.34 Germany 14,308,453.92 5.23 435,255 ISHARES NIKKEI 225 (DE) 6,784,754.94 2.48 410,503 ISHARES STOXX OPE 600 BANKS (DE) 7,523,698.98 2.75 United States of America 1,362,146.33 0.50 11,390 ISHARES TR BARCLAYS 10-20 TREASURY BD 1,362,146.33 0.50 Total securities portfolio 264,295,885.51 96.52 Page 16
- ING Private Banking Optimal Selection Moderate Page 17
- ING Private Banking Optimal Selection Moderate Financial Statements as at 30/06/17 Statement of net assets as at 30/06/17 Expressed in Assets Securities portfolio at market value Cost price Unrealised profit on the securities portfolio Cash at bank and liquidities Subscriptions receivable Dividends receivable Liabilities Accrued management fees Other liabilities Net asset value 260,144,441.89 258,162,970.02 255,215,130.07 2,947,839.95 1,759,451.38 156,808.11 65,212.38 1,109,046.76 966,923.34 142,123.42 259,035,395.13 Key figures Year/Period ended as at: 30/06/17 31/12/16 31/12/15 Total Net Assets 259,035,395.13 222,602,225.48 109,939,425.88 Class A Class B Class S Class T Capitalisation shares Capitalisation shares 31,207.00 24,414.00 265.70 264.60 330,44 317,291.00 521.50 3.98 523.25 7.72 2,038.00 258.45 174.00 128.40 50,702.57 50,428.93 785.00 405.00 50,142.30 382.65 50,250.75 432.81 203,415.00 518.47 3.93 391.00 451.00 51,447.78 516.51 51,650.49 8 49,354.15 Page 18
- ING Private Banking Optimal Selection Moderate Key figures Year/Period ended as at: 30/06/17 31/12/16 31/12/15 Total Net Assets 259,035,395.13 222,602,225.48 109,939,425.88 Class U 20 50,595.00 Page 19
Quantity Denomination ING Fund - ING Private Banking Optimal Selection Moderate Securities portfolio as at 30/06/17 Expressed in Quotation currency Market value % of net assets Shares/Units of UCITS/UCIS 258,162,970.02 99.66 Shares/Units in investment funds 258,162,970.02 99.66 Luxembourg 157,106,707.89 60.64 1,372 AGIF OPE EQUITY GROWTH WT CAP 3,301,086.73 1.27 52,737 AWF GI SD BD -M HEDGED (95%)- CAP 5,341,681.00 2.06 72,012 AXA WD GL INF SH DUR-MCAP 6,302,445.06 2.43 324,784 BGF EU VAL -X2- CAP 3,280,313.65 1.27 570,853 BGF BD -X2- CAP 17,776,351.52 6.85 101,354 BGF O MKT X CAP 3,308,183.79 1.28 88,099 BRSF FIX IN STR -X2- CAP 11,505,688.91 4.44 29,338 D INV I T EULD -IC-CAP 3,616,781.12 1.40 3,273 ELEVA O SEL -I2 () CAP 3,819,983.76 1.47 126,802 FID EM -I-ACC- CAP 1,479,750.73 0.57 41,353 FRANKLIN TEMPLETON INV ASIAN SMALLER CO I- Acc- 1,802,353.45 0.70 35,614 GS GL STR IN BD -IS (-HEDGED) DIS 3,584,231.61 1.38 217,736 HEN HOR P OPEAN EQ -G2- CAP 2,954,683.41 1.14 272,888 HEND HOR OL -G2- CAP 3,615,770.88 1.40 98,379 HENDERSON HORIZON PAN OP.PROP-I2- CAP 4,497,886.51 1.74 23,510 JPMF EU EQ PL-JPM I (PERF) CAP 2,458,720.98 0.95 11,348 KEMPEN INTL LUX O CREDIT FUND -I- CAP 15,651,569.06 6.04 11,625,474 L G O CORPORATE BD-I ACC 12,801,971.88 4.94 11,352 NN LL IB 3M -B- CAP 11,676,879.55 4.51 68,816 NORDEA 1 EMERG MKT BD-BI-BASE 8,357,073.32 3.23 3,668 OL SH BC USSVTR -UCITS ETF 1C()- CAP 1,846,301.17 0.71 144,004 R CAP EU GV BD -2IH - CAP 14,610,694.13 5.64 897,428 STRUCT GSQUARTIX MODIF STR-C- 6,153,308.95 2.38 19,336 UBAM GLOBAL HIGH YIELD SOLUTION -I- CAP 2,791,549.68 1.08 37,248 UBS ETF MSCI EM -A DIS (DE) 4,571,447.04 1.76 Ireland 56,250,271.03 21.72 183,412 DBX SP EW DR ETF 1C 7,297,563.95 2.82 80,838 GAM STAR FD PLC CHN EQ -INS- CAP 1,073,625.41 0.41 109,700 ISHS CO COR SHS ETF 14,221,508.00 5.49 200,547 ISHS DEVELOPED MARKETS PROPERTY YIELD UC 4,449,135.20 1.72 67,498 ISHS GLB CO BD SHS HEDGED ETF 7,135,551.07 2.75 13,151 ISHS HY CORP BD 1,411,759.85 0.55 51,989 ISHS MSC EM LAT SHS ETF 751,881.60 0.29 64,403 ISHS MSCI EM CAP 1,472,084.70 0.57 8,476 SM GS EQ IN GERMAN CERT 1,107,897.96 0.43 152,044 SPDR SP DIV - ETF 3,579,115.76 1.38 101,841 SPDR SP US DI ETF 4,279,723.93 1.65 234,764 VANGUARD SP500 UCITS ETF 9,470,423.60 3.66 France 35,375,071.48 13.66 249 AMUNDI 3-6 M I 25,529,003.29 9.86 9,800 NATIXIS SOUVERAINS O SN 4DEC 9,846,068.19 3.80 Germany 7,393,918.87 2.85 224,966 ISHARES NIKKEI 225 (DE) 3,506,770.01 1.35 212,088 ISHARES STOXX OPE 600 BANKS (DE) 3,887,148.86 1.50 United States of America 2,037,000.75 0.79 17,033 ISHARES TR BARCLAYS 10-20 TREASURY BD 2,037,000.75 0.79 Total securities portfolio 258,162,970.02 99.66 Page 20
Additional information SECURITIES FINANCING TRANSACTIONS AND OF REUSE REGULATION ( SFTR ) The Company does not use any instruments falling into the scope of SFTR. Page 21