Class A: IFRAX
Class C: IFRCX
Class I: IFRIX
Class R: IFRRX
Class W: IFRWX
An Attractive Income Option for a Strategic Allocation
Voya Floating Rate Fund
Senior Loans have had positive returns in 17 of the last 19 years, through various interest rate environments, offer strong diversification benefits and historically consistent returns with relatively low volatility.
Morningstar Overall Rating
Class I as of 12/31/16
Out of 206 Funds
Category: Bank Loan
For more information call 1 (800) 334-3444
The Voya Floating Rate Fund Offers
Senior loans have had positive performance in 17 of the last 19 years
S&P/LSTA Leveraged Loan Index Total Returns by Calendar Year
Source: Standard & Poor’s LCD, S&P/LSTA Leveraged Loan Index
Past performance does not guarantee future results. The S&P/LSTA Leveraged Loan Index is an unmanaged total return index that captures accrued interest, repayments and market value changes. An index does not reflect fees, brokerage commissions, taxes or other expenses of investing. Investors cannot directly invest in an index.
The Voya Difference
Attractive Option for Current Income Across the Rate Cycle
Senior loan interest payments reset with market rates, keeping interest rate risk lower than fixed rate bonds. Loans benefit from a "LIBOR floor", typically at 1%; payments will increase if LIBOR rises above that level.
One of the Industry's Most Experienced Senior Loan Teams
Voya has one of the largest dedicated teams, which focuses on diversification, liquidity and prudent risk-taking at all points in the investment cycle.
Pure-Play Loan Strategy
The Fund typically contains no allocations to other asset classes which can allow for lower duration risk, more efficient asset allocation, and greater clarity in risk exposures for investors.
Meet the Manager
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.
The Overall Morningstar risk-adjusted return rating for a fund is derived from a weighted average of the performance figures associated with its three-, five- and ten-year (if applicable) Morningstar Rating metrics. Morningstar Ratings are for the A and I share classes only; other classes may have different performance characteristics.
For each fund with at least a three-year history, Morningstar calculates a Morningstar Rating™ based on a Morningstar Risk-Adjusted Return measure that accounts for variation in a fund’s monthly performance, placing more emphasis on downward variations and rewarding consistent performance. The top 10% of funds in each category receive 5 stars, the next 22.5% receive 4 stars, the next 35% receive 3 stars, the next 22.5% receive 2 stars and the bottom 10% receive 1 star. (Each share class is counted as a fraction of one fund within this scale and rated separately, which may cause slight variations in the distribution percentages.)
*Ratings and other statistics for load-waived Class A shares of the mutual fund reflect the investor experience for those investors who do not pay the funds' front-end sales load. Load waived shares are typically only available through advisory accounts and may not be available to all investors. Rankings for other share classes may be lower due to inclusion of fees in performance rankings. For additional share class information, please visit voyainvestments.com.
Past performance is not indicative of future results.