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: March 31, 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 / March 31, 2009 (unaudited)

						Market
Shares						Value
				Common Stock — 74.7%
				Real Estate Investment Trusts (“REIT”) — 74.7%
				Australia — 10.8%
	29,967,000			Dexus Property Group		$	15,615,805
	16,907,508			Goodman Group			3,817,885
	14,384,178			Macquarie CountryWide Trust			2,398,591
	3,632,427			Westfield Group			25,238,104
							47,070,385
				Canada — 9.8%
	200,100			Calloway Real Estate Investment Trust			1,588,840
	264,600			Calloway Real Estate Investment Trust (a)			2,100,985
	500,000			Crombie Real Estate Investment Trust (a)			2,642,769
	884,800			H&R Real Estate Investment Trust			5,415,062
	2,282,900			InnVest Real Estate Investment Trust			5,806,366
	440,000			InnVest Real Estate Investment Trust (a)			1,119,103
	700,000			Primaris Retail Real Estate Investment Trust (a)			5,051,862
	1,878,800			RioCan Real Estate Investment Trust			18,740,961
							42,465,948
				Finland — 1.1%
	2,528,457			Citycon Oyj			4,901,269
				France -2.1%
	384,782			Societe de la Tour Eiffel			8,889,228
				Hong Kong — 3.2%
	7,103,000			Link REIT (The)			14,041,027
				Japan — 2.5%
	400			Frontier Real Estate Investment Corp.			1,964,159
	2,388			Japan Retail Fund Investment Corp.			9,090,696
							11,054,855
				Netherlands — 12.1%
	116,780			Corio NV			4,828,221
	357,401			Eurocommercial Properties NV			9,703,963
	1,136,730			Nieuwe Steen Investments NV			18,110,842
	317,161			VastNed Retail NV			12,797,070
	99,400			Wereldhave NV			6,950,380
							52,390,476
				New Zealand — 1.0%
	9,050,000			Goodman Property Trust			4,132,229
				Singapore — 3.0%
	15,200,000			CapitaMall Trust			13,198,263
				United Kingdom — 2.7%
	1,220,333			British Land Co. Plc			6,310,113
	718,900			Land Securities Group Plc			4,505,580
	3,071,876			Segro Plc			1,001,700
							11,817,393
				United States — 26.4%
	285,800			BioMed Realty Trust, Inc.			1,934,866
	100,000			BRE Properties, Inc.			1,963,000
	688,100			Camden Property Trust			14,849,198
	1,308,500			Extra Space Storage, Inc.			7,209,835
	1,194,300			Kimco Realty Corp.			9,100,566
	1,460,990			Liberty Property Trust			27,671,150
	1,156,900			Macerich Co. (The)			7,242,194
	1,779,170			OMEGA Healthcare Investors, Inc.			25,050,714
	927,429			UDR, Inc.			7,985,164
	712,120			Verde Realty (b)(c)			11,749,980
							114,756,667
				Total Common Stock (cost $660,254,007)			324,717,740

See previously submitted notes to financial statements for the annual period ended December 31, 2008.

						Market
Shares						Value
				Preferred Stock — 27.6%
				Real Estate Investment Trusts (“REIT”) — 27.6%
				United States — 27.6%
	450,000			Alexandria Real Estate Equities, Inc., Series C			8,775,000
	80,500			Apartment Investment & Management Co., Series U			813,050
	400,000			Apartment Investment & Management Co., Series V			4,332,000
	150,000			Apartment Investment & Management Co., Series Y			1,549,500
	174,000			Associated Estates Realty Corp.			2,409,900
	400,000			BioMed Realty Trust, Inc., Series A			4,292,000
	207,700			Cedar Shopping Centers, Inc.			1,806,990
	125,000			Digital Realty Trust, Inc., Series B			1,984,375
	200,800			Duke Realty Corp., Series M			1,706,800
	121,700			Eagle Hospitality Properties Trust			120,787
	400,000			Entertainment Properties Trust, Series D			3,700,000
	430,700			Glimcher Realty Trust, Series G			2,075,974
	520,000			Health Care REIT, Inc., Series F			10,046,400
	330,600			Host Hotels & Resorts, Inc., Series E			6,364,050
	210,000			Innkeepers USA Trust, Series C			96,600
	765,000			iStar Financial, Inc., Series I			3,633,750
	200,000			LaSalle Hotel Properties, Series D			2,234,000
	523,200			LaSalle Hotel Properties, Series E			5,634,864
	520,000			LaSalle Hotel Properties, Series G			4,940,000
	701,300			LTC Properties, Inc., Series F			14,415,222
	200,000			Mid-America Apartment Communities, Inc., Series H			4,400,000
	137,100			National Retail Properties, Inc., Series C			2,085,291
	120,000			OMEGA Healthcare Investors, Inc., Series D			2,160,000
	320,000			PS Business Parks, Inc., Series O			5,120,000
	320,000			Public Storage, Series K			6,153,600
	360,000			Public Storage, Series M			6,332,400
	192,500			SL Green Realty Corp., Series C			1,896,125
	200,000			SL Green Realty Corp., Series D			2,070,000
	275,000			Strategic Hotels & Resorts, Inc. (a)			704,688
	142,600			Taubman Centers, Inc., Series G			2,168,946
	373,500			Taubman Centers, Inc., Series H			5,699,610
	337,500			W2007 Grace Acquisition I, Inc., Series C			305,876
				Total Preferred Stock (cost $247,423,996)			120,027,798
				Investment Companies — 1.5%
				United Kingdom — 1.5%
	15,265,600			ING UK Real Estate Income Trust Ltd. +			4,157,382
	1,257,578			ProLogis European Properties			2,254,077
				Total Investment Companies (cost $40,233,859)			6,411,459
				Rights (a) — 0.6%
				United Kingdom — 0.6%
	36,862,512			Segro Plc
				expiring 4/6/09 @ 10 GBP
				(cost $23,426,201)			2,536,171
				Total Investments — 104.4% (cost $971,338,063)			453,693,168
				Liabilities in Excess of Other Assets — (4.4)%			(19,037,016	)
				Net Assets — 100%		$	434,656,152

Affiliate		Gross Additions				Gross Reductions				Dividend Income
ING UK Real Estate Income Trust Ltd.		$	—			$	—			$	219,115

See previously submitted notes to financial statements for the annual period ended December 31, 2008.

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)

The following is a summary of the inputs used as of March 31, 2009 in valuing the Trust’s investments carried at fair value:

Fair Value Measurements at March 31, 2009 Using

Quoted Prices in

Significant

Significant

Active Market for

Other Observable

Unobservable

Identical Assets

Inputs

Inputs

Total

(Level 1)

(Level 2)

(Level 3)

Investments in Securities

$

453,693,168

$

321,915,390

$

120,027,798

$

11,749,980

Following is a reconciliation of investments in which significant unobservable inputs (Level 3) were used in determining fair value:

		Investments
		in Securities
Balance as of December 31, 2008		$	11,749,980
Realized gain (loss)			—
Change in unrealized appreciation (depreciation)			—
Net purchases (sales)			—
Balance as of March 31, 2009		$	11,749,980

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: May 28, 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: May 28, 2009

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

Date: May 28, 2009