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UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

FORM N-Q

 

Quarterly Schedule of Portfolio Holdings of Registered

Management Investment Company

 

Investment Company Act file number:   811-22438

 

ING Emerging Markets High Dividend Equity Fund

(Exact name of registrant as specified in charter)

 

7337 East Doubletree Ranch Rd. Suite 100, Scottsdale, AZ 85258

(Address of principal executive offices)          (Zip code)

 

 

Huey P. Falgout, Jr., 7337 East Doubletree Ranch Road, Scottsdale, AZ 85258 

(Name and address of agent for service)

 

Registrant’s telephone number, including area code: 1-800-992-0180

 

Date of fiscal year end:

February 28

Date of reporting period:

November 30, 2011

 



 

Item 1. Schedule of Investments

 

The schedules of investments as of the close of the reporting period are set forth below for:

 

ING Emerging Markets High Dividend Equity Fund

 

The schedules are not audited.

 



 

 

 

PORTFOLIO OF INVESTMENTS

ING Emerging Markets High Dividend Equity Fund

 

as of November 30, 2011 (Unaudited)

 

Shares

 

 

 

 

 

Value

 

Percentage
of Net
Assets

 

COMMON STOCK: 99.1%

 

 

 

 

 

 

 

 

 

Belgium: 0.9%

 

 

 

 

 

82,657

 

 

 

Oriflame Cosmetics S.A.

 

$

2,538,521

 

0.9

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Brazil: 14.6%

 

 

 

 

 

281,636

 

 

 

Banco do Brasil S.A.

 

3,768,956

 

1.3

 

504,663

 

 

 

BM&F Bovespa S.A.

 

2,757,248

 

0.9

 

375,748

 

 

 

Cia de Concessoes Rodoviarias

 

2,399,917

 

0.8

 

296,247

 

 

 

Cia Siderurgica Nacional S.A.

 

2,416,370

 

0.8

 

120,000

 

 

 

EDP - Energias do Brasil S.A.

 

2,561,451

 

0.9

 

86,800

 

 

 

Itau Unibanco Holding S.A.

 

1,531,186

 

0.5

 

87,188

 

 

 

Lojas Renner SA

 

2,613,205

 

0.9

 

213,703

 

 

 

MRV Engenharia e Participacoes SA

 

1,376,747

 

0.5

 

133,900

 

 

 

Natura Cosmeticos S.A.

 

2,687,848

 

0.9

 

260,209

 

 

 

Petroleo Brasileiro SA ADR

 

6,523,440

 

2.2

 

375,463

 

 

 

Porto Seguro SA

 

3,890,937

 

1.3

 

158,168

 

 

 

Redecard S.A.

 

2,667,694

 

0.9

 

229,909

 

 

 

Tele Norte Leste Participacoes SA ADR

 

2,174,939

 

0.8

 

252,876

 

 

 

Vale SA

 

5,457,876

 

1.9

 

 

 

 

 

 

 

42,827,814

 

14.6

 

 

 

 

 

Chile: 1.2%

 

 

 

 

 

10,311,390

 

 

 

Enersis SA

 

3,598,838

 

1.2

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

China: 17.7%

 

 

 

 

 

1,049,000

 

 

 

BOC Hong Kong Holdings Ltd.

 

2,401,660

 

0.8

 

2,743,000

 

 

 

China High Speed Transmission Equipment Group Co., Ltd.

 

1,367,354

 

0.5

 

1,898,000

 

 

 

China Life Insurance Co., Ltd.

 

5,120,193

 

1.7

 

4,208,000

 

 

 

China Petroleum & Chemical Corp.

 

4,455,587

 

1.5

 

1,888,000

 

 

 

China Resources Power Holdings Co.

 

3,829,732

 

1.3

 

3,402,000

 

 

 

China Shanshui Cement Group Ltd.

 

2,507,884

 

0.9

 

2,200,000

 

 

 

CNOOC Ltd.

 

4,273,718

 

1.5

 

2,678,000

 

 

 

Guangzhou Automobile Group Co. Ltd.

 

2,492,566

 

0.8

 

1,484,000

 

 

 

Harbin Power Equipment

 

1,474,166

 

0.5

 

317,500

 

 

 

Hengan International Group Co., Ltd.

 

2,995,448

 

1.0

 

3,507,000

 

 

 

Huabao International Holdings Ltd.

 

2,063,299

 

0.7

 

7,699,000

 

 

 

Industrial and Commercial Bank of China Ltd.

 

4,488,988

 

1.5

 

1,942,000

 

 

 

Jiangsu Expressway Co. Ltd.

 

1,737,971

 

0.6

 

4,129,000

 

 

 

Lonking Holdings Ltd

 

1,430,244

 

0.5

 

2,037,500

 

 

 

Parkson Retail Group Ltd.

 

2,524,135

 

0.9

 

11,346,000

 

 

 

Renhe Commercial Holdings Co. Ltd.

 

1,628,921

 

0.6

 

2,943,000

 

 

 

Want Want China Holdings Ltd.

 

3,064,705

 

1.0

 

1,072,000

 

 

 

Yanzhou Coal Mining Co., Ltd.

 

2,589,678

 

0.9

 

2,503,000

 

 

 

Zhejiang Expressway Co., Ltd.

 

1,539,682

 

0.5

 

 

 

 

 

 

 

51,985,931

 

17.7

 

 

 

 

 

Colombia: 0.9%

 

 

 

 

 

60,700

 

 

 

Ecopetrol SA ADR

 

2,562,754

 

0.9

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Czech Republic: 1.4%

 

 

 

 

 

63,676

 

 

 

CEZ A/S

 

2,513,983

 

0.8

 

10,500

 

 

 

Komercni Banka AS

 

1,735,740

 

0.6

 

 

 

 

 

 

 

4,249,723

 

1.4

 

 

 

 

 

Hong Kong: 4.7%

 

 

 

 

 

5,094,000

 

X

 

Chaoda Modern Agriculture Holdings Ltd.

 

540,956

 

0.2

 

123,000

 

 

 

China Mobile Ltd. ADR

 

6,109,410

 

2.1

 

199,500

 

 

 

Hang Seng Bank Ltd.

 

2,452,242

 

0.8

 

757,000

 

 

 

Link Real Estate Investment Trust

 

2,726,900

 

0.9

 

3,268,000

 

 

 

United Laboratories International Holdings Ltd./The

 

1,873,507

 

0.7

 

 

 

 

 

 

 

13,703,015

 

4.7

 

 

 

 

 

Hungary: 0.4%

 

 

 

 

 

8,599

 

 

 

Richter Gedeon Nyrt

 

1,296,314

 

0.4

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

India: 2.9%

 

 

 

 

 

799,373

 

 

 

NTPC Ltd.

 

2,522,841

 

0.8

 

495,608

 

 

 

Oil & Natural Gas Corp., Ltd.

 

2,561,736

 

0.9

 

414,951

 

 

 

Oriental Bank Of Commerce

 

2,158,682

 

0.7

 

83,076

 

 

 

Punjab National Bank

 

1,427,882

 

0.5

 

 

 

 

 

 

 

8,671,141

 

2.9

 

 

 

 

 

Indonesia: 2.8%

 

 

 

 

 

12,427,000

 

 

 

Perusahaan Gas Negara PT

 

4,316,279

 

1.5

 

4,682,000

 

 

 

Telekomunikasi Indonesia Tbk PT

 

3,836,852

 

1.3

 

 

 

 

 

 

 

8,153,131

 

2.8

 

 

 

 

 

Malaysia: 3.3%

 

 

 

 

 

1,295,600

 

 

 

Berjaya Sports Toto BHD

 

1,710,295

 

0.6

 

1,720,400

 

 

 

IOI Corp. Bhd

 

2,764,717

 

0.9

 

942,300

 

 

 

Public Bank BHD

 

3,742,322

 

1.3

 

901,700

 

 

 

Tenaga Nasional BHD

 

1,627,060

 

0.5

 

 

 

 

 

 

 

9,844,394

 

3.3

 

 



 

 

 

PORTFOLIO OF INVESTMENTS

ING Emerging Markets High Dividend Equity Fund

 

as of November 30, 2011 (Unaudited) (continued)

 

Shares

 

 

 

 

 

Value

 

Percentage
of Net
Assets

 

COMMON STOCK: (continued)

 

 

 

 

 

 

 

 

 

Mexico: 1.3%

 

 

 

 

 

3,155,144

 

 

 

America Movil SAB de CV

 

$

 3,755,421

 

1.3

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Peru: 0.5%

 

 

 

 

 

14,300

 

 

 

Credicorp Ltd.

 

1,553,266

 

0.5

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Poland: 1.8%

 

 

 

 

 

2,134,961

 

 

 

Polskie Gornictwo Naftowe I Gazownictwo SA

 

2,627,138

 

0.9

 

26,785

 

 

 

Powszechny Zaklad Ubezpieczen SA

 

2,565,054

 

0.9

 

 

 

 

 

 

 

5,192,192

 

1.8

 

 

 

 

 

Qatar: 0.9%

 

 

 

 

 

116,405

 

 

 

Commercial Bank of Qatar

 

2,592,780

 

0.9

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Russia: 7.7%

 

 

 

 

 

775,967

 

 

 

Gazprom OAO ADR

 

8,923,620

 

3.0

 

136,588

 

 

 

Lukoil-Spon

 

7,662,587

 

2.6

 

347,649

 

 

 

Mobile Telesystems OJSC ADR

 

6,007,375

 

2.1

 

 

 

 

 

 

 

22,593,582

 

7.7

 

 

 

 

 

Singapore: 3.0%

 

 

 

 

 

540,000

 

 

 

Fraser and Neave Ltd.

 

2,744,143

 

0.9

 

351,000

 

 

 

Keppel Corp., Ltd.

 

2,607,354

 

0.9

 

282,000

 

 

 

United Overseas Bank Ltd.

 

3,419,155

 

1.2

 

 

 

 

 

 

 

8,770,652

 

3.0

 

 

 

 

 

South Africa: 7.5%

 

 

 

 

 

297,976

 

 

 

Adcock Ingram Holdings Ltd.

 

2,247,727

 

0.8

 

172,788

 

 

 

Impala Platinum Holdings Ltd.

 

3,674,719

 

1.2

 

1,001,104

 

 

 

Life Healthcare Group Holdings Ltd.

 

2,639,263

 

0.9

 

224,738

 

 

 

MTN Group Ltd.

 

4,048,471

 

1.4

 

744,708

 

 

 

Sanlam Ltd.

 

2,761,119

 

0.9

 

60,743

 

 

 

Sasol Ltd.

 

2,914,068

 

1.0

 

311,477

 

 

 

Standard Bank Group Ltd.

 

3,798,683

 

1.3

 

 

 

 

 

 

 

22,084,050

 

7.5

 

 

 

 

 

South Korea: 11.1%

 

 

 

 

 

186,752

 

 

 

Hite Jinro Co. Ltd.

 

5,005,654

 

1.7

 

94,160

 

 

 

Hyundai Development Co.

 

1,487,691

 

0.5

 

169,840

 

 

 

Hyundai Securities Co.

 

1,366,639

 

0.5

 

64,970

 

 

 

Kangwon Land, Inc.

 

1,601,420

 

0.5

 

67,137

 

 

 

KB Financial Group, Inc.

 

2,340,304

 

0.8

 

38,868

 

 

 

KT&G Corp.

 

2,632,697

 

0.9

 

18,438

 

 

 

Posco

 

6,214,100

 

2.1

 

7,783

 

 

 

Samsung Electronics Co., Ltd.

 

7,083,462

 

2.4

 

79,980

 

 

 

Woongjin Coway Co., Ltd.

 

2,725,017

 

0.9

 

262,840

 

 

 

Woori Finance Holdings Co., Ltd.

 

2,354,851

 

0.8

 

 

 

 

 

 

 

32,811,835

 

11.1

 

 

 

 

 

Taiwan: 11.0%

 

 

 

 

 

287,000

 

 

 

Catcher Technology Co., Ltd.

 

1,402,429

 

0.5

 

835,000

 

 

 

E Ink Holdings, Inc.

 

1,548,246

 

0.5

 

670,000

 

 

 

Giant Manufacturing Co., Ltd.

 

2,431,022

 

0.8

 

256,750

 

 

 

HTC Corp.

 

4,226,983

 

1.4

 

2,755,170

 

 

 

Lite-On Technology Corp.

 

3,019,355

 

1.0

 

279,587

 

 

 

MStar Semiconductor, Inc.

 

1,503,044

 

0.5

 

1,011,000

 

 

 

Novatek Microelectronics Corp., Ltd.

 

2,546,366

 

0.9

 

1,122,700

 

 

 

Powertech Technology, Inc.

 

2,558,958

 

0.9

 

1,228,000

 

 

 

Quanta Computer, Inc.

 

2,471,638

 

0.8

 

246,500

 

 

 

Simplo Technology Co. Ltd.

 

1,385,740

 

0.5

 

427,000

 

 

 

Synnex Technology International Corp.

 

1,023,474

 

0.4

 

2,126,000

 

 

 

Taiwan Semiconductor Manufacturing Co., Ltd.

 

5,329,903

 

1.8

 

2,000,000

 

 

 

Uni-President Enterprises Corp.

 

2,803,467

 

1.0

 

 

 

 

 

 

 

32,250,625

 

11.0

 

 

 

 

 

Thailand: 1.3%

 

 

 

 

 

394,800

 

 

 

PTT Plc.

 

3,974,220

 

1.3

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

United Kingdom: 1.3%

 

 

 

 

 

358,972

 

 

 

Eurasian Natural Resources Corp.

 

3,770,411

 

1.3

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

United States: 0.9%

 

 

 

 

 

83,102

 

 

 

Southern Copper Corp.

 

2,586,965

 

0.9

 

 

 

 

 

Total Common Stock

 

 

 

 

 

 

 

 

 

(Cost $342,663,565)

 

291,367,575

 

99.1

 

PREFERRED STOCK: 1.0%

 

 

 

 

 

 

 

 

 

Brazil: 1.0%

 

 

 

 

 

169,265

 

 

 

Cia Energetica de Minas Gerais

 

2,903,531

 

1.0

 

 

 

 

 

Total Preferred Stock

 

 

 

 

 

 

 

 

 

(Cost $3,238,537)

 

2,903,531

 

1.0

 

 



 

 

 

PORTFOLIO OF INVESTMENTS

ING Emerging Markets High Dividend Equity Fund

 

as of November 30, 2011 (Unaudited) (continued)

 

Shares

 

 

 

 

 

Value

 

Percentage
of Net
Assets

 

RIGHTS: 0.0%

 

 

 

 

 

 

 

 

 

South Korea: 0.0%

 

 

 

 

 

62,048

 

 

 

Hyundai Securities Co.

 

$

 29,162

 

0.0

 

 

 

 

 

Total Rights

 

 

 

 

 

 

 

 

 

(Cost $—)

 

29,162

 

0.0

 

 

 

 

 

Total Long-Term Investments

 

 

 

 

 

 

 

 

 

(Cost $345,902,102)

 

294,300,268

 

100.1

 

SHORT-TERM INVESTMENTS: 0.5%

 

 

 

 

 

 

 

 

 

Mutual Funds: 0.5%

 

 

 

 

 

1,563,784

 

 

 

BlackRock Liquidity Funds, TempFund, Institutional Class

 

 

 

 

 

 

 

 

 

(Cost $1,563,784)

 

1,563,784

 

0.5

 

 

 

 

 

Total Short-Term Investments

 

 

 

 

 

 

 

 

 

(Cost $1,563,784)

 

1,563,784

 

0.5

 

 

 

 

 

Total Investments in Securities
(Cost $347,465,886)

 

$

 295,864,052

 

100.6

 

 

 

 

 

Liabilities in Excess of Other Assets

 

(1,680,788)

 

(0.6)

 

 

 

 

 

Net Assets

 

$

 294,183,264

 

100.0

 

 

 

 

 

 

 

 

 

 

 

 

 

ADR

 

American Depositary Receipt

 

 

 

 

 

 

 

X

 

Fair value determined by ING Funds Valuation Committee appointed by the Funds’ Board of Directors/Trustees.

 

 

 

 

 

 

 

 

 

Cost for federal income tax purposes is $349,032,574.

 

 

 

 

 

 

 

 

 

Net unrealized depreciation consists of:

 

 

 

 

 

 

 

 

 

Gross Unrealized Appreciation

 

$

5,539,923

 

 

 

 

 

 

 

Gross Unrealized Depreciation

 

(58,708,445)

 

 

 

 

 

 

 

Net Unrealized depreciation

 

$

(53,168,522)

 

 

 

 



 

 

 

PORTFOLIO OF INVESTMENTS

ING Emerging Markets High Dividend Equity Fund

 

as of November 30, 2011 (Unaudited) (continued)

 

Sector Diversification

 

Percentage of
Net Assets

Consumer Discretionary

 

5.9%

Consumer Staples

 

8.5

Energy

 

16.7

Financials

 

21.2

Health Care

 

2.8

Industrials

 

5.7

Information Technology

 

12.5

Materials

 

9.8

Telecommunications

 

9.0

Utilities

 

8.0

Short-Term Investments

 

0.5

Liabilities in Excess of Other Assets

 

(0.6)

Net Assets

 

100.0%

 



 

 

 

PORTFOLIO OF INVESTMENTS

ING Emerging Markets High Dividend Equity Fund

 

as of November 30, 2011 (Unaudited) (continued)

 

Fair Value Measurements

 

The following is a summary of the fair valuations according to the inputs used as of November 30, 2011 in valuing the assets and liabilities:

 

 

 

Quoted Prices
in Active Markets
for Identical
Investments
(Level 1)

 

Significant
Other
Observable
Inputs #
(Level 2)

 

Significant
Unobservable
Inputs
(Level 3)

 

Fair Value
at
11/30/2011

Asset Table

 

 

 

 

 

 

 

 

Investments, at value

 

 

 

 

 

 

 

 

Common Stock

 

 

 

 

 

 

 

 

Belgium

 

$

 

$

2,538,521

 

$

 

$

2,538,521

Brazil

 

42,827,814

 

 

 

42,827,814

Chile

 

3,598,838

 

 

 

3,598,838

China

 

 

51,985,931

 

 

51,985,931

Colombia

 

2,562,754

 

 

 

2,562,754

Czech Republic

 

 

4,249,723

 

 

4,249,723

Hong Kong

 

6,109,410

 

7,052,649

 

540,956

 

13,703,015

Hungary

 

 

1,296,314

 

 

1,296,314

India

 

 

8,671,141

 

 

8,671,141

Indonesia

 

 

8,153,131

 

 

8,153,131

Malaysia

 

 

9,844,394

 

 

9,844,394

Mexico

 

3,755,421

 

 

 

3,755,421

Peru

 

1,553,266

 

 

 

1,553,266

Poland

 

 

5,192,192

 

 

5,192,192

Qatar

 

 

2,592,780

 

 

2,592,780

Russia

 

22,593,582

 

 

 

22,593,582

Singapore

 

 

8,770,652

 

 

8,770,652

South Africa

 

 

22,084,050

 

 

22,084,050

South Korea

 

2,632,697

 

30,179,138

 

 

32,811,835

Taiwan

 

 

32,250,625

 

 

32,250,625

Thailand

 

 

3,974,220

 

 

3,974,220

United Kingdom

 

 

3,770,411

 

 

3,770,411

United States

 

2,586,965

 

 

 

2,586,965

Total Common Stock

 

88,220,747

 

202,605,872

 

540,956

 

291,367,575

Preferred Stock

 

2,903,531

 

 

 

2,903,531

Rights

 

 

29,162

 

 

29,162

Short-Term Investments

 

1,563,784

 

 

 

1,563,784

Total Investments, at value

 

$

92,688,062

 

$

202,635,034

 

$

540,956

 

$

295,864,052

Liabilities Table

 

 

 

 

 

 

 

 

Other Financial Instruments+

 

 

 

 

 

 

 

 

Written Options

 

$

 

$

(1,524,939)

 

$

 

$

(1,524,939)

Total Liabilities

 

$

 

$

(1,524,939)

 

$

 

$

(1,524,939)

 

+

 

Other Financial Instruments are derivatives not reflected in the Portfolio of Investments and may include open forward foreign currency contracts, equity forwards, futures, swaps, and written options. Forward foreign currency contracts, equity forwards and futures are valued at the unrealized gain (loss) on the instrument. Swaps and written options are valued at the fair value of the instrument.

#

 

The earlier close of the foreign markets gives rise to the possibility that significant events, including broad market moves, may have occurred in the interim and may materially affect the value of those securities. To account for this, the Fund may frequently value many of its foreign equity securities using fair value prices based on third party vendor modeling tools to the extent available. Accordingly, a significant portion of the Fund’s investments are categorized as Level 2 investments.

 

 

 

 

 

There were no significant transfers between Level 1 and 2 during the period ended November 30, 2011.

 

The following is a reconciliation of the fair valuations using significant unobservable inputs (Level 3) for the Portfolio’s assets and liabilities during the period ended November 30, 2011:

 

 

 

Beginning
Balance

 

 

 

 

 

Accrued
Discounts/

 

Total
Realized

 

Total
Unrealized
Appreciation/

 

Transfers
Into

 

Transfers
Out of

 

Ending
Balance

 

 

2/28/2011

 

Purchases

 

Sales

 

(Premiums)

 

Gain/(Loss)

 

(Depreciation)

 

Level 3

 

Level 3

 

11/30/2011

Asset Table

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Investments, at value

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Common Stock

 

$

 

$

 

$

 

$

 

$

 

$

 

$

540,956

 

$

 

$

540,956

Total Investments, at value

 

$

 

$

 

$

 

$

 

$

 

$

 

$

540,956

 

$

 

$

540,956

 

As of November 30, 2011, total change in unrealized gain (loss) on Level 3 securities still held at period end and included in the change in net assets was $0.

 

 

 

Transfers in or out of Level 3 represent either the beginning value (for transfers in), or the ending value (for transfers out) of any security or derivative instrument where a change in the pricing level occurred from the beginning to the end of the period. Transfers are recognized at the end of the reporting period.

 

ING Emerging Markets High Dividend Equity Fund Written OTC Options on November 30, 2011

 

# of
Contracts

 

Counterparty

 

Description

 

Exercise 
Price

 

Expiration 
Date

 

Premiums 
Received

 

Fair 
Value

Options on Indices

 

 

 

 

 

 

 

 

 

 

 

720,200

 

Barclays Bank PLC

 

Call on iShares MSCI Emerging Markets Index Fund

 

41.429

USD

 

12/02/11

 

$

1,156,936

 

$

(28,771)

759,500

 

Morgan Stanley

 

Call on iShares MSCI Emerging Markets Index Fund

 

38.800

USD

 

12/16/11

 

1,177,225

 

(1,496,168)

 

 

 

 

Total Written OTC Options

 

$

2,334,161

 

$

(1,524,939)

 



 

Item 2. Controls and Procedures.

 

 

(a)

Based on our evaluation conducted within 90 days of the filing date, hereof, the design and operation of the registrant’s disclosure controls and procedures are effective to ensure that material information relating to the registrant is made known to the certifying officers by others within the appropriate entities, particularly during the period in which Forms N-Q are being prepared, and the registrant’s disclosure controls and procedures allow timely preparation and review of the information for the registrant’s Form N-Q and the officer certifications of such Form N-Q.

 

 

(b)

There were no significant changes in the registrant’s internal controls over financial reporting that occurred during the registrant’s last fiscal quarter of the period covered by this report that has materially affected, or is reasonably likely to materially affect, the registrant’s internal control over financial reporting.

 

 

Item 3. Exhibits.

 

A separate certification for each principal executive officer and principal financial officer of the registrant as required by Rule 30a-2 under the Act (17 CFR 270.30a-2) is attached hereto as EX-99.CERT.

 



 

SIGNATURES

 

Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

 

(Registrant):   Ing Emerging Markets High Dividend Equity Fund

 

By

/s/ Shaun P. Mathews

 

 

Shaun P. Mathews

 

 

President and Chief Executive Officer

 

 

 

 

Date:

January 25, 2012

 

 

Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, this report has been signed below by the following persons on behalf of the registrant and in the capacities and on the dates indicated.

 

By

/s/ Shaun P. Mathews

 

 

Shaun P. Mathews

 

 

President and Chief Executive Officer

 

 

 

 

Date:

January 25, 2012

 

 

 

 

By

/s/ Todd Modic

 

 

Todd Modic

 

 

Senior Vice President and Chief Financial Officer

 

 

 

 

Date:

January 25, 2012