Investment Management

Voya IM Blog

08/17/2017

VIX: How low can it go (and why should investors care)?

By Vincent Costa, CFA, Head of Global Equities and Erin Doyle Orekhov, Client Portfolio Manager

Eight years into the slow and steady recovery of the economy and markets, complacency has hit record highs. As the era of complacency continues, we take a closer look at how investors are positioned and why it makes sense to add a little protection to your portfolio before volatility returns.

08/14/2017

Insurance Portfolio Management: A Closer Analysis of Duration Risk in the Current Environment

By Mike Pagano, Head of Insurance Portfolio Management and Jeff Hobbs, CFA, Senior Insurance Portfolio Manager

Despite well-intentioned portfolio construction and hedging decisions, duration gaps can still occur. In this post, we offer analysis to help insurers assess tradeoffs between yield and duration in the current market environment.

08/10/2017

LIBOR in Limbo?

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

Recent announcements from the U.K.’s Financial Conduct Authority (FCA) have quickly turned into reports declaring the death of LIBOR. As speculation continues to mount, our latest analysis provides investors with a framework to help understand the implications for senior loan and CLO markets.

08/09/2017

What Does Looming GSE Reform Mean for Fixed Income Investors?

By Jake Lowery, CFA, Portfolio Manager, Mortgage Derivatives

GSE reform is likely to take hold in the current political environment. The impact this reform will have on the mortgage market has the potential to create a wealth of opportunities for fixed income investors.

08/01/2017

Fixed Income Portfolio Strategy: The Important Role of Senior Bank Loans

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

Careful consideration is in order when selecting a senior loan strategy. Many loan funds actively include a sizeable allocation to other bond or bond-like assets, which can materially change the risk profile of a portfolio, particularly in a rising rate environment.

07/20/2017

Using Bonds in a Return-Generating LDI Portfolio

By Pierre Couture, A.S.A., E.A., M.A.A.A., Head of Customized Solutions

The effectiveness of fixed income in liability-matching portfolios is well understood. But what role should the asset class play in generating returns?

07/19/2017

The Disruption in Retail Expands to Grocers: What Amazon’s Latest Game Changer Means for Fixed Income Investors

By Dave Goodson, Head of Securitized; Greg Michaud, Head of Real Estate Finance; Mark Probst, Senior Credit Analyst; and Daniel Riordan, CFA, High Yield Credit Analyst

Perhaps the largest untapped opportunity for e-commerce, groceries have officially joined the ranks of the disrupted consumer-spending categories. Our fixed income team breaks down the likely impact this game-changing deal will have on the real estate, securitization and corporate credit markets.

07/14/2017

Why Does Total Return Matter in Private Credit?

By Chris Lyons, Head of Private Credit

Although total return is more difficult to track for private credit offerings than it is for public bonds, the performance metric is arguably more important in the private market.

06/28/2017

The High Yield Market is Shrinking. That Could Be Good News for Investors.

By Randy Parrish, CFA, Head of Credit and Rick Cumberledge, CFA, Head of High Yield

The size of the U.S. high yield market increased steadily from the mid-1980s. Over the past two years, it started to shrink. What does that mean for investors?

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