Investment Management

Market Review


The U.S. Housing Trade is Far From Over

By Dave Goodson, Head of Securitized Investments, Fixed Income

The U.S. housing market still has meaningful upside. In fact, from several perspectives, we are still in the recovery phase. Against a robust economic backdrop, we believe securitized credit is a compelling way for investors to diversify a broader credit portfolio—yet the potential benefits of the asset class remain broadly misunderstood. In this analysis, we reveal why we believe securitized credit has become a “through-the-cycle” allocation.


Searching for Skill: Information Ratio

If it were impossible for active managers to beat benchmarks there would be no need to evaluate, quantify or rank the degree of manager skill in any active investment strategy. But active managers can and often do beat their benchmarks, demonstrating the potential for active management to add value. The information ratio has gained prominence as a gauge for estimating this potential.


Understanding Return of Capital: How It Could Be Beneficial in a Targeted Payment Fund

By Paul Zemsky, CFA Chief Investment Officer, Multi-Asset Strategies

Many investors dislike return of capital (ROC) because they think it is just a return of the original investment minus fees. But sometimes ROC can be favorable to your clients; this Insight can help you determine when.


A Holistic Approach to Target Date Design

By Paul Zemsky, CFA Chief Investment Officer, Multi-Asset Strategies

How should Plan Sponsors think about evaluating Target Date Funds? In our new brochure, we offer a comprehensive approach for selecting the fund that best matches the needs and characteristics of the plan and its participants.


Capital Market Assumptions for 2017

By Multi-Asset Strategies and Solutions Team

Our capital market assumptions provide estimates of expected returns, standard deviation of returns and correlations among major U.S. and global asset classes over a ten-year horizon. These estimates guide the strategic asset allocation for our multi-asset portfolios and provide a context for shorter-term economic and financial forecasting. These comments reflect final asset class forecasts of risk and return for 2017-2026 and are subject to change.


Senior Bank Loan 2017 Outlook

By Jeff Bakalar and Dan Norman, Co-Heads Senior Loan Group

Looking ahead to 2017, senior bank loans seem poised for another strong year. In our annual forecast, we break down the factors expected to drive risk and return in the asset class.


What is Credit Risk Transfer?

By Dave Goodson, Head of Securitized Investments, Fixed Income

Learn more about this relatively new and growing fixed income segment.


Volatility Controlled Equity Strategies: A Long-Term Investment Solution

By Vincent Costa, CFA, Head of Global Equities

Vincent Costa, CFA, Head of Global Equities explains why rumors surrounding the death of low volatility are greatly exaggerated.


How to Achieve Best Execution in Today's Complex Equity Trading Environment

By Nanette Buziak, Head of Equity Trading

The growth of dark pools and market fragmentation has redefined what it means to deliver “best execution” for equity trades. Voya’s Head of Equity Trading Nanette Buziak discusses the most important questions investors should be asking equity managers in this complex new trading environment, and shares insight into Voya’s rigorous process for preventing information leakage.