UNITED STATES
SECURITIES AND EXCHANGE COMMISSION

Washington, DC 20549

FORM N-Q

QUARTERLY SCHEDULE OF PORTFOLIO HOLDINGS OF REGISTERED
MANAGEMENT INVESTMENT COMPANY

ING Clarion Global Real Estate Income Fund

(Exact name of registrant as specified in charter)

201 King of Prussia Road, Radnor, PA 19087
(Address of principal executive offices)		(Zip code)

T. Ritson Ferguson, President and Chief Executive Officer

ING Clarion Global Real Estate Income Fund

201 King of Prussia Road

Radnor, PA 19087

(Name and address of agent for service)

Registrant’s telephone number, including area code: 1-888-711-4272

Date of fiscal year end: December 31

Date of reporting period: September 30, 2009

     Form N-Q is to be used by management investment companies, other than small business investment companies registered on Form N-5 (§§ 239.24 and 274.5 of this chapter), to file reports with the Commission, not later than 60 days after the close of the first and third fiscal quarters, pursuant to rule 30b1-5 under the Investment Company Act of 1940 (17 CFR 270.30b1-5). The Commission may use the information provided on Form N-Q in its regulatory, disclosure review, inspection, and policymaking roles.

     A registrant is required to disclose the information specified by Form N-Q, and the Commission will make this information public. A registrant is not required to respond to the collection of information contained in Form N-Q unless the Form displays a currently valid Office of Management and Budget (“OMB”) control number. Please direct comments concerning the accuracy of the information collection burden estimate and any suggestions for reducing the burden to the Secretary, Securities and Exchange Commission, 450 Fifth Street, NW, Washington, DC 20549-0609. The OMB has reviewed this collection of information under the clearance requirements of 44 U.S.C. § 3507.

 

 

Item 1. Schedule of Investments.

     Attached hereto.

ING Clarion Global Real Estate Income Fund
Portfolio of Investments / September 30, 2009 (unaudited)

						Market
Shares						Value
				Common Stock — 76.1%
				Real Estate Investment Trusts (“REIT”) — 76.1%
				Australia — 11.5%
	38,529,000			Dexus Property Group		$	28,733,192
	7,053,616			Goodman Group			4,139,738
	14,384,178			Macquarie CountryWide Trust			8,124,646
	3,632,427			Westfield Group			44,560,609
							85,558,185
				Canada — 9.6%
	200,100			Calloway Real Estate Investment Trust			3,542,253
	500,000			Crombie Real Estate Investment Trust (a)			4,802,944
	884,800			H&R Real Estate Investment Trust			11,475,278
	2,082,900			InnVest Real Estate Investment Trust			8,635,894
	440,000			InnVest Real Estate Investment Trust (a)			1,824,280
	700,000			Primaris Retail Real Estate Investment Trust (a)			9,913,351
	1,878,800			RioCan Real Estate Investment Trust			31,508,805
							71,702,805
				Finland — 0.6%
	1,082,167			Citycon Oyj			4,587,230
				France — 3.2%
	351,122			Societe de la Tour Eiffel			23,603,676
				Hong Kong — 2.1%
	7,103,000			Link REIT (The)			15,635,664
				Japan — 2.2%
	400			Frontier Real Estate Investment Corp.			3,104,931
	2,388			Japan Retail Fund Investment Corp.			12,988,842
							16,093,773
				Netherlands — 7.0%
	116,780			Corio NV			8,044,964
	357,401			Eurocommercial Properties NV			14,136,495
	317,161			VastNed Retail NV			20,393,508
	99,400			Wereldhave NV			9,778,216
							52,353,183
				New Zealand — 0.9%
	9,050,000			Goodman Property Trust			6,546,770
				Singapore — 2.7%
	15,200,000			CapitaMall Trust			19,956,709
				United Kingdom — 5.1%
	598,413			British Land Co. Plc			4,548,005
	718,900			Land Securities Group Plc			7,186,080
	4,412,110			Segro Plc			25,932,668
							37,666,753
				United States — 31.2%
	391,400			Aannaly Capital Management, Inc.			7,099,996
	285,800			BioMed Realty Trust, Inc.			3,944,040
	100,000			BRE Properties, Inc.			3,130,000
	688,100			Camden Property Trust			27,730,430
	2,628,400			Chimera Investment Corp.			10,040,488
	1,158,500			Extra Space Storage, Inc.			12,222,175
	694,300			Kimco Realty Corp.			9,053,672
	1,310,990			Liberty Property Trust			42,646,505
	1,210,187			Macerich Co. (The)			36,704,972
	1,679,170			OMEGA Healthcare Investors, Inc.			26,900,303
	1,219,700			ProLogis			14,538,824
	172,910			Simon Property Group, Inc.			12,005,141
	927,429			UDR, Inc.			14,597,733
	712,120			Verde Realty (b)(c)			11,749,980
							232,364,259
				Total Common Stock (cost $641,989,749)			566,069,007

See previously submitted notes to financial statements for the semi-annual period ended June 30, 2009.

						Market
Shares						Value
				Preferred Stock — 25.0%
				Real Estate Investment Trusts (“REIT”) — 25.0%
				United States — 25.0%
	450,000			Alexandria Real Estate Equities, Inc., Series C			10,899,000
	80,500			Apartment Investment & Management Co., Series U			1,666,350
	400,000			Apartment Investment & Management Co., Series V			8,472,000
	150,000			Apartment Investment & Management Co., Series Y			3,150,000
	174,000			Associated Estates Realty Corp.			4,083,571
	400,000			BioMed Realty Trust, Inc., Series A			8,900,000
	207,700			Cedar Shopping Centers, Inc.			4,216,310
	125,000			Digital Realty Trust, Inc., Series B			2,976,250
	200,800			Duke Realty Corp., Series M			3,977,848
	121,700			Eagle Hospitality Properties Trust			44,116
	400,000			Entertainment Properties Trust, Series D			7,200,000
	430,700			Glimcher Realty Trust, Series G			6,947,191
	520,000			Health Care REIT, Inc., Series F			12,318,800
	330,600			Host Hotels & Resorts, Inc., Series E			8,265,000
	765,000			iStar Financial, Inc., Series I			6,219,450
	200,000			LaSalle Hotel Properties, Series D			4,074,000
	523,200			LaSalle Hotel Properties, Series E			11,543,100
	520,000			LaSalle Hotel Properties, Series G			10,400,000
	668,500			LTC Properties, Inc., Series F			15,642,900
	200,000			Mid-America Apartment Communities, Inc., Series H			4,926,000
	137,100			National Retail Properties, Inc., Series C			3,138,219
	120,000			OMEGA Healthcare Investors, Inc., Series D			2,949,000
	320,000			PS Business Parks, Inc., Series O			7,040,000
	320,000			Public Storage, Series K			7,971,200
	360,000			Public Storage, Series M			8,197,200
	192,500			SL Green Realty Corp., Series C			4,267,725
	200,000			SL Green Realty Corp., Series D			4,550,000
	142,600			Taubman Centers, Inc., Series G			3,386,750
	373,500			Taubman Centers, Inc., Series H			8,571,825
				Total Preferred Stock (cost $225,885,721)			185,993,805
				Investment Companies — 1.3%
				United Kingdom — 1.3%
	3,015,232			ING UK Real Estate Income Trust Ltd. +			2,049,525
	1,257,578			ProLogis European Properties			7,823,386
				Total Investment Companies (cost $18,542,117)			9,872,911
				Total Investments — 102.4% (cost $886,417,587)			761,935,723
				Liabilities in Excess of Other Assets — (2.4)%			(17,918,220	)
				Net Assets — 100%		$	744,017,503

Affiliate		Gross Additions				Gross Reductions				Dividend Income
ING UK Real Estate Income Trust Ltd.		$	—			$	7,325,631			$	125,611

See previously submitted notes to financial statements for the semi-annual period ended June 30, 2009.

FAS 157 establishes a single definition of fair value, creates a three-tier hierarchy as a framework for measuring fair value based on inputs used to value the Trust’s investments, and requires additional disclosure about fair value. The hierarchy of inputs is summarized below:

			Level 1 — unadjusted quoted prices in active markets for identical investments
			Level 2 — other significant observable inputs (including quoted prices for similar investments, interest rates, prepayment speeds, credit risk, etc.)
			Level 3 — significant unobservable inputs (including the Trust’s own assumptions in determining the fair value of investments)

For Level 1 inputs, the Fund uses unadjusted quoted prices in active markets for assets or liabilities with sufficient frequency and volume to provide pricing information as the most reliable evidence of fair value. The Fund’s Level 2 valuation techniques include inputs other than quoted prices within Level 1 that are observable for an asset or liability, either directly or indirectly. Level 2 observable inputs may include quoted prices for similar assets and liabilities in active markets or quoted prices for identical or similar assets or liabilities in markets that are not active in which there are few transactions, the prices are not current, or price quotations vary substantially over time or among market participants. Inputs that are observable for the asset or liability in Level 2 include such factors as interest rates, yield curves, prepayment speeds, credit risk, and default rates for similar liabilities. For Level 3 valuation techniques, the Fund uses unobservable inputs that reflect assumptions market participants would be expected to use in pricing the asset or liability. Unobservable inputs are used to measure fair value to the extent that observable inputs are not available under the circumstances. In developing unobservable inputs, market participant assumptions are used if they are reasonably available without undue cost and effort.

The inputs or methodology used for valuing securities are not necessarily an indication of the risk associated with investing in those securities. The following is a summary of the inputs used as of September 30, 2009 in valuing the Trust’s investments carried at fair value:

		Level 1				Level 2				Level 3
Investments in Securities
Common Stocks		$	562,142,413			$	—			$	11,749,980
Preferred Stocks			—				185,993,805				—
Affiliated Mutual Fund			2,049,525				—				—
Total		$	564,191,938			$	185,993,805			$	11,749,980

The following is a reconciliation of assets in which significant unobservable inputs (Level 3) were used in determining fair value:

		Common Stocks
Balance as of December 31, 2008		$	11,749,980
Realized gain (loss)			—
Change in unrealized appreciation (depreciation)			—
Net purchases (sales)			—
Transfers in and/or out of Level 3			—
Balance as of September 30, 2009		$	11,749,980

See previously submitted notes to financial statements for the semi-annual period ended June 30, 2009.

Item 2. Controls and Procedures.

	(a)		The Trust’s principal executive officer and principal financial officer have evaluated the Trust’s disclosure controls and procedures within 90 days of this filing and have concluded that the Trust’s disclosure controls and procedures were effective, as of that date, in ensuring that information required to be disclosed by the Trust in this Form N-Q was recorded, processed, summarized, and reported timely.
	(b)		The Trust’s principal executive officer and principal financial officer are aware of no changes in the Trust’s internal control over financial reporting that occurred during the Trust’s most recent quarter that has materially affected, or is reasonably likely to materially affect, the Trust’s internal control over financial reporting.

Item 3. Exhibits.

Certification of chief executive officer and chief financial officer pursuant to Section 302 of the Sarbanes-Oxley Act of 2002.

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 Clarion Global Real Estate Income Fund

By:		/s/ T. Ritson Ferguson   T. Ritson Ferguson
		President and Chief Executive Officer

Date: November 23, 2009

     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/ T. Ritson Ferguson   T. Ritson Ferguson
		President and Chief Executive Officer

Date: November 23, 2009

By:		/s/ Jonathan A. Blome   Jonathan A. Blome
		Chief Financial Officer

Date: November 23, 2009