ING Global Advantage and Premium Opportunity Fund (the Fund) is a diversified, closed-end management investment company. The primary objective of the Fund is to provide a high level of income, with a secondary objective of capital appreciation. The Fund seeks to achieve its investment objectives by investing at least 80% of its managed assets in a diversified global equity portfolio and employing an option strategy of writing index call options equivalent to a significant portion of its equity portfolio. The Fund invests in a diversified portfolio of common stocks of companies located in a number of different countries worldwide, normally in approximately 450 to 500 common stocks. It normally invests across a range of countries (usually 25 to 30 countries), industries and market sectors, including investments in issuers located in countries with emerging markets. ING Investments, LLC is the investment advisor of the Fund. The Fund�s sub-advisor is ING Investment Management Co.