Voya Global Target Payment Fund - Class A
- Coupled with a managed payment policy, the Fund invests in a combination of Voya Funds which are invested in global equity, fixed-income, and which may include floating rate loans, emerging markets debt, and real estate securities
- Seeks to make level, monthly payments per share, re-set annually*
- Designed for retired investors or investors nearing retirement who seek stable level of monthly payments from their investment in the Fund as well as growth potential and global diversification
* The annual payment rate determined is within a range of 5.00%–7.00% for the Class A shares, 5.25%–7.25% for the Class I and W shares and 4.25%–6.25% for the Class C shares based on Voya's assessment of market conditions.
Note: For the calendar year 2013, the Fund will make a level monthly payment of approximately $0.045 per share for Class A shares, $0.041 per share for Class C shares, and $0.047 per share for Class I and W shares.
The Fund seeks to meet the managed payment policy of the Fund, while seeking to preserve investors' capital over the long term. The Fund's secondary investment objective is to seek potential long-term capital appreciation.
Daily Prices as of 12/18/2014
|Net Asset Value (NAV)||$8.78|
|Public Offering Price (POP)||$9.32|
|Inception Date||Jul 01, 2008|
|Min. Initial Investment||$1,000.00|
Average Annual Total Returns %
|As of Nov 30, 2014 As of Sep 30, 2014||As of Nov 30, 2014 As of Sep 30, 2014|
|YTD||1 YR||3 YR||5 YR||10 YR||Inception (07/01/08)||Gross Exp.||Net Exp. 1, 2, 3|
|Net Asset Value||+4.60||+5.72||+9.52||+7.73||—||+4.73||1.46%||1.30%|
|With Sales Charge||-1.44||-0.32||+7.37||+6.46||—||+3.77|
|Net Asset Value||+2.85||+7.16||+10.78||+7.88||—||+4.58||1.46%||1.30%|
|With Sales Charge||-3.09||+1.03||+8.60||+6.62||—||+3.59|
|S&P Target Risk Growth Index||+3.85||+9.62||+12.99||+9.50||—||+5.95||—||—|
|Dow Jones Moderate Portfolio Index||+3.52||+7.93||+11.62||+9.11||—||+6.57||—||—|
Current Maximum Sales Charge: 5.75%
1The Adviser has contractually agreed to limit expenses of the Fund. This expense limitation agreement excludes interest, taxes, brokerage, and extraordinary expenses and may be subject to possible recoupment. Please see the Fund's prospectus for more information.
2The expense limits will continue through at least March 1, 2018. Expenses are being waived to the contractual cap.
3The Fund’s Acquired (Underlying) Funds Fees and Expenses are based on a weighted average of the fees and expenses of the Underlying Funds in which it invests. The amount of fees and expenses of the Underlying Funds borne by the Fund will vary based on the Fund’s allocation of assets to, and annualized net expenses of, the particular Underlying Funds during the Fund’s fiscal year.
The performance quoted represents past performance and does not guarantee future results. Current performance may be lower or higher than the performance information shown. The investment return and principal value of an investment in the Portfolio will fluctuate, so that your shares, when redeemed, may be worth more or less than their original cost. See above “Average Annual Total Returns %” for performance information current to the most recent month-end. Returns for the other share classes will vary due to different charges and expenses. Performance assumes reinvestment of distributions and does not account for taxes.
1 Total investment return at net asset value has been calculated assuming a purchase at net asset value at the beginning of the period and a sale at net asset value at the end of the period; and assumes reinvestment of dividends, capital gain distributions and return of capital distributions/allocations, if any, in accordance with the provisions of the dividend reinvestment plan. Net asset value equals total Fund assets net of Fund expenses such as operating costs and management fees. Total investment return at net asset value is not annualized for periods less than one year.
2 Total investment return at market share price measures the change in the market value of your investment assuming reinvestment of dividends, capital gain distributions and return of capital distributions/allocations, if any, in accordance with the provisions of the Fund’s dividend reinvestment plan. Total investment return at market share price is not annualized for periods less than one year. Closed-end funds like the Fund do not continuously offer shares for sale and are not required to buy shares back from investors upon request. Shares of closed-end funds trade on national stock exchanges. Therefore, share prices are not directly affected by Fund operating expenses or fees which ordinarily have the effect of lowering total return.
S&P Target Risk Growth Index
The Standard and Poor's ("S&P") Target Risk Growth Index is a broad-based index that seeks to measure the performance of an asset allocation strategy targeted to a growth-focused risk profile. The index is fully investable, with varying levels of exposure to equities and fixed-income through a family of exchange-traded funds. The index offers increased exposure to equities, while also using some fixed-income exposure to diversify risk.
Dow Jones Moderate Portfolio Index
The Dow Jones Moderate Index - Global Series is an unmanaged index that represents a multi-asset portfolio consisting of three Composite Major Asset Classes ("CMACs"): Global equities, bonds and cash. Each CMAC represents a basket of Dow Jones portfolio indexes. For the Dow Jones Global Moderate Index, the CMACs are allocated in proportions, allowing the portfolio to maintain the overall risk level equal to 60% of the downside risk of the equity CMAC. The Dow Jones Global Moderate Index is rebalanced on a monthly basis. The Index does not reflect fees, brokerage commissions, taxes or other expenses of investing. Investors cannot invest directly in an index.
All investing involves risks of fluctuating prices and the uncertainties of rates of return and yield inherent in investing. Foreign Investing does pose special risks including currency fluctuation, economic and political risks not found in investments that are solely domestic. Emerging Market stocks may be especially volatile. Stock of an issuer in the Fund's portfolio may decline in price if the issuer fails to make anticipated Dividend Payments because, among other reasons, the issuer of the security experiences a decline in its financial condition. Securities of Small- and Mid-Sized Companies may entail greater price volatility and less liquidity than investing in stocks of larger companies. Other risks of the Fund include but are not limited to: Convertible Securities Risks; Market Trends Risks; Other Investment Companies Risks; Price Volatility Risks; Inability to Sell Securities Risks; and Securities Lending Risks. Investors should consult the Fund's Prospectus and Statement of Additional Information for a more detailed discussion of the Fund's risks.
Risks specific to Managed Payment:
The Fund is expected to make monthly payments under its Managed Payment Policy regardless of the Fund's investment performance. Because these payments will be made from Fund assets, the Fund's monthly payments may reduce the amount of assets available for investment by the Fund. It is possible for the Fund to suffer substantial investment losses and simultaneously experience additional asset reductions as a result of its payments to shareholders under the Managed Payment Policy. The Fund may, under its Managed Payment Policy, return capital to shareholders which will decrease their costs basis in the Fund and will affect the amount of any capital gain or loss that shareholders realize when selling or exchanging their Fund shares.