NOTES TO FINANCIAL STATEMENTS
ING Funds Trust (the "Trust") was organized as a Delaware business trust on July 30, 1998 and is registered
with the Securities and Exchange Commission under the Investment Company Act of 1940, as amended (the
"Investment Company Act"), as an open-end management investment company. The Trust consists of twenty
investment portfolios (each, a "Fund" and, collectively, the "Funds"): the ING U.S. Treasury Money Market
Fund, ING Money Market Fund, ING Intermediate Bond Fund, ING High Yield Bond Fund, ING International
Bond Fund, ING Mortgage Income Fund, ING National Tax-Exempt Bond Fund, ING Large Cap Growth
Fund, ING Growth & Income Fund, ING Mid Cap Growth Fund, ING Small Cap Growth Fund, ING
Balanced Fund, ING Global Brand Names Fund, ING International Equity Fund, ING Emerging Markets Equity
Fund, ING European Equity Fund, ING Tax Efficient Equity Fund, ING Focus Fund, ING Global Information
Technology Fund and ING Global Real Estate Fund. Each Fund, except the ING National Tax-Exempt Bond
Fund, offers four classes of shares, which have been designated as Class A, B, C, and X shares. The ING
National Tax-Exempt Bond Fund offers only Class A, B and C shares. The Funds, except for the ING U.S.
Treasury Money Market Fund, ING Mortgage Income Fund, ING National Tax-Exempt Bond Fund, ING
Balanced Fund, ING Emerging Markets Equity Fund, and ING Global Real Estate Fund, commenced operations
on December 15, 1998.
2. SIGNIFICANT ACCOUNTING POLICIES
The Funds' financial statements are prepared in accordance with generally accepted accounting principles which
may require the use of management estimates and assumptions. Actual results could differ from those estimates.
SECURITY VALUATION Securities listed on an exchange or trading in the over-the-counter market are valued
on the basis of the last sale prior to the time the valuation is made. If there has been no sale since the immediately
previous valuation, then the average of the last bid and asked pr