Great American Fidelity Bond



Gerard Mogan

Assistant Vice President

September 14, 2012

Ms. Stephanie Brown


3560 Lenox road

Suite 2400

Atlanta, GA 30326


Re:     ING Family of Funds

Unified Board Funds

Investment Company Bond

Term: October 1, 2012-October 1, 2013

Policy No.: 314-79-82

Dear Stephanie:

We are pleased to provide our Renewal Binder for the above captioned account. This Binder is conditioned on receiving the following information within 30 days of binding coverage:

No further subjectivities



   Great American Insurance Company      

AM Best’s Rating:


S&P Rating:



   ING Family of Funds      


   7337 E. Doubletree Ranch Road., Suite 100 Scottsdale, AZ 85258      


   October 1, 2012-2013      


   Investment Company Policy      


$25,000,000 Single Loss Limit – Each and Every Loss Basis

Insuring Agreement

   Single Loss Limit   


Basic Agreements (A) Fidelity, incl. Trading

   $25,000,000    NIL

(B) On Premises,


(C) Transit, & (F) Counterfeit Currency

   $25,000,000    $25,000

(D) Forgery of Alteration

   $25,000,000    $25,000

(E) Securities

   $25,000,000    $25,000

Computer Systems

   $25,000,000    $25,000

Voice Initiated Transfer Fraud

   $25,000,000    $25,000

Telefacsimile Transfer Fraud

   $25,000,000    $25,000

Audit Expense

   $250,000    $5,000

Unauthorized Signatures

   $250,000    $5,000

Uncollectible Items of Deposit

   $250,000    $5,000

Stop Payment Legal Liability

   $250,000    $5,000

Annual Premium - $60,919

Additional Coverages: As expiring to include:

Listing of Insureds

90-Day Cancellation, except for non-payment of premium.

Automatic Coverage for Newly created Funds

Claim Reporting Threshold of 50% of Deductible

Computer Systems Fraud rider – All systems utilized by the Named Insureds

Voice Initiated Transfer Fraud – contained in the Computer Systems Fraud Rider – Par. 4

Telefacsimile Transfer Fraud – in Form

Extended Computer Coverages

Worldwide Counterfeit Currency

Amend the Definition of Employee to include ex-employees up to 60 days after termination, except if for reasons of Fraud or Dishonesty

Notice of Cancellation sent to - State of Arkansas, SEC, Midwest Stock Exchange

Amended Discovery – replace “by the Insured” to “by Risk Management Department, Office of the

General Counsel, or Senior Vice President or above of the Insured”

Amended Fidelity Language to provide ‘or” wording, except for Loans or Trading.

Amended Fidelity Language to provide Malicious Destruction of Data

Commission Payable:    16.5%

Stephanie, please review and call me should you have any questions. Thank you for the order.




Gerard Mogan

Assistant Vice President

Great American Insurance Company

65 Broadway, 11th Floor

New York, NY 10006

Phone: 212-513-4013

FAX: 212-513-4015

Efax: 513-768-5187