Investment Management

Voya Floating Rate Fund - Class A

Class T shares of the Fund are not currently offered.

Fund Description

Overview

  • Designed to provide investors with a high level of monthly income
  • Invests in ultra-short duration, below investment grade floating rate loans that reset every 30, 60 or 90 days, making the fund less affected by rising interest rates than many other fixed income funds
  • Typically invests in senior secured asset-backed loans that are generally first in line to be repaid in the event of financial difficulty
  • Allows for daily redemptions

Investment Objective

The Fund seeks to provide investors with a high level of current income.

Daily Prices as of 06/27/2017

Net Asset Value (NAV) $9.86
% Change 0.00
$ Change 0.00
Public Offering Price (POP) $10.11
YTD Return +0.90%

Lookup Historical Prices

Fund Facts

Ticker Symbol IFRAX
CUSIP 92913L791
Inception Date Aug 17, 2010
Dividends Paid Monthly
Min. Initial Investment $1,000.00

Management Team

Dan Norman

Portfolio Manager

Managed Fund since 2010

Jeffrey A. Bakalar

Portfolio Manager

Managed Fund since 2010

 

More Info

Average Annual Total Returns %

  As of May 31, 2017 As of Mar 31, 2017 Expense Ratios
  YTD 1 YR 3 YR 5 YR 10 YR Inception (08/17/10) Gross Net 1, 2
Net Asset Value +1.02 +4.86 +2.89 +3.97 +4.14 1.08% 1.04%
With Sales Charge -1.55 +2.25 +2.03 +3.44 +3.74
S&P/LSTA Leveraged Loan Index +1.96 +7.49 +3.57 +4.73 +4.98
Net Asset Value +0.66 +6.49 +2.87 +3.91 +4.19 1.08% 1.04%
With Sales Charge -1.90 +3.81 +2.02 +3.38 +3.78
S&P/LSTA Leveraged Loan Index +1.15 +9.72 +3.57 +4.58 +4.98

Inception Date - Class A: 08/17/10

View Detailed Performance

Current Maximum Sales Charge: 2.50%

1The Adviser has contractually agreed to limit expenses of the Fund. This expense limitation agreement excludes interest, taxes, investment-related costs, leverage expenses, 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 August 1, 2017. Expenses are being waived to the contractual cap.

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.

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.

Benchmark Disclosures

S&P/LSTA Leveraged Loan Index

The S&P/LSTA Leveraged Loan Index is an unmanaged total return index that captures accrued interest, repayments, and market value changes. The Index does not reflect fees, brokerage commissions, taxes or other expenses of investing. Investors cannot invest directly in an index.

Principal Risks

Investment Risks:  The Fund invests primarily in below investment grade, floating rate senior loans (also known as "high yield" or "junk" instruments), which are subject to greater levels of liquidity, credit, and other risks than are investment grade instruments. There is a limited secondary market for floating rate loans, which may limit the Fund’s ability to sell a loan in a timely fashion or at a favorable price. If a loan is illiquid, the value of the loan may be negatively impacted and the manager may not be able to sell the loan in order to meet redemption needs or other portfolio cash requirements. The value of loans in the Fund could be negatively impacted by adverse economic or market conditions and by the failure of borrowers to repay principal or interest. A decrease in demand for loans may adversely affect the value of the Fund’s investments, causing the Fund’s net asset value to fall. Because of the limited market for floating rate senior loans, it may be difficult to value loans in the Fund on a daily basis. The actual price the Fund receives upon the sale of a loan could differ significantly from the value assigned to it in the Fund. The Fund may invest in foreign instruments, which may present increased market, liquidity, currency, interest rate, political, information, and other risks. These risks may be greater in the case of emerging market loans. Although interest rates for floating rate senior loans typically reset periodically, changes in market interest rates may impact the valuation of loans in the portfolio. In the case of early prepayment of loans in the Fund, the Fund may realize proceeds from the repayment that are less than the valuation assigned to the loan by the Fund. In the case of extensions of payment periods by borrowers on loans in the Fund, the valuation of the loans may be reduced. The Fund may also invest in other investment companies and will pay a proportional share of the expenses of the other investment company. Other risks of the Fund include but are not limited to: Borrowings; Diversification Risks; and Concentration Risks. Investors should consult the Fund’s Prospectus and Statement of Additional Information for a more detailed discussion of the Fund’s risk.
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