ING Risk Managed Natural Resources

Looks like a 5%+ haircut for IRR and IAE and an 11% cut for IGA. My guess is that the share price will fall by a greater amount--but that's just my guess. Until a little over a month ago, I owned decent sized chunks of IRR and IAE.  Bruce ING Global Advantage and Premium Opportunity Fund, ING Risk Managed Natural Resources Fund and ING Asia Pacific High Dividend Equity Income Fund Declare  BY PR Newswire — 4:30 PM ET 06/15/2010 SCOTTSDALE, Ariz., June 15 /PRNewswire/ -- ING Investments, LLC announced the quarterly distributions on the common shares of three of its closed-end funds: ING Global Advantage and Premium Opportunity Fund (IGA) , ING Risk Managed Natural Resources Fund ( IRR ) and ING Asia Pacific High Dividend Equity Income Fund (IAE) (each a "Fund" and collectively, the "Funds"). The quarterly distributions announced today are reduced from distributions paid in prior periods in an effort to align the Fund's distributions with the current conditions in the equity and options markets. The Funds' management considered a number of factors before deciding to decrease each Fund's distribution, including the level of assets in each respective Fund, the dividend yield of the underlying equity portfolios and prevailing implied option volatilities. With respect to each Fund, the distribution will be paid on July 15, 2010, to shareholders of record on July 6, 2010. The ex-dividend date is July 1, 2010. The distribution per share for each Fund is as follows: Fund Distribution Per Share Change from previous quarter ING Global Advantage and Premium Opportunity Fund (NYSE: IGA) $0.335 - $0.037 ING Risk Managed Natural Resources Fund (NYSE: IRR ) $0.363 - $0.019 ING Asia Pacific High Dividend Equity Income Fund (NYSE: IAE) $0.426 - $0.022 Each Fund intends to make regular quarterly distributions based on the past and projected performance of the Fund. The amount of quarterly distributions may vary, depending on a number of factors. As portfolio and market conditions change, the rate of distributions on the common shares may change. There can be no assurance that a Fund will be able to declare a distribution in each period. The tax treatment and characterization of a Fund's distributions may vary significantly from time to time depending on the net investment income of the Fund and whether the Fund has realized gains or losses from its options strategy versus gain or loss realizations in the equity securities in the portfolio. Each Fund's distributions will normally reflect past and projected net investment income, and may include income from dividends and interest, capital gains and/or a return of capital. The portion of each Fund's quarterly distributions estimated to come from the Fund's option strategy, for tax purposes, may be treated as a combination of long-term and short-term capital gains, and/or a return of capital. The tax character of each Fund's option strategy is largely determined by movements in, and gain and loss realizations in the underlying equity portfolio. Under certain conditions, federal tax regulations may also cause some or all of the return of capital to be taxed as ordinary income. The final tax characteristics of the distributions cannot be determined with certainty until after the end of the calendar year, and will be reported to shareholders at that time. IGA estimates that each distribution for the current fiscal year as of March 31, 2010, was comprised of approximately 100% ordinary income. IRR estimates that each distribution for the current fiscal year as of March 31, 2010, was comprised of approximately 5% ordinary income and 95% return of capital. IAE estimates that each distribution for the current fiscal year as of March 31, 2010, was comprised of approximately 19% ordinary income and 81% return of capital. Certain statements made on behalf of the Funds in this release are forward- looking statements. The Funds actual future results may differ significantly from those anticipated in any forward-looking statements due to numerous factors, including but not limited to a decline in value in equity markets in general or the Funds investments specifically. Neither the Funds nor ING undertake any responsibility to update publicly or revise any forward-looking statement. ING Investments, LLC, the manager of the Funds, is part of ING , a global financial institution of Dutch origin offering banking, investments, life insurance and retirement services to over 75 million private, corporate and institutional clients in more than 50 countries. With a diverse workforce of about 125,000 people, ING comprises a broad spectrum of prominent companies that increasingly serve their clients under the ING brand. SHAREHOLDER INQUIRIES: ING Funds Shareholder Services at (800) 992-0180 Source: ING SOURCE ING