Voya IM Blog
By Vincent Costa, CFA, Head of Global Equities
Large investment losses have the potential to derail any investor on their path towards achieving their stated objective. In this quick math lesson, we explain the importance of downside protection.Read More
By Mike Pagano, Head of Insurance Portfolio Management and Jeff Hobbs, CFA, Senior Insurance Portfolio Manager
How can insurers counter the margin compression resulting from new money rates lagging portfolio book yields? In a series of upcoming blog posts, we will highlight opportunities and risks across the six traditional levers that insurance companies can pull to offset this yield erosion.
By Randy Parrish, CFA, Head of Credit and Rick Cumberledge, CFA, Head of High Yield
Many “experts” have recently warned of impending doom in the high yield bond market. High yield returns have certainly been impressive since the energy- and commodity-led sell-off of late 2015/early 2016, but our view of today’s economic and market landscape doesn’t lead us to the conclusion that the end is near. Rather, we find reasonable value in the market and used the March sell-off to add high yield exposure.
By Guy Petcho, Global Macro Portfolio Manager, Fixed Income
As global policymakers impact the trajectory of global growth, we explore the true drivers of the markets, and ask how fixed income investors should be thinking about portfolio positioning.
By Chris Lyons, Head of Private Credit
Private credit is often viewed through the lens of mezzanine below-investment grade debt. But this is only a subset of the asset class. In fact, investment grade offerings account for a large part of the total market. So what do structure, pricing, and liquidity look like in the investment grade private credit market? How are deals sourced best in the investment grade market? The answer may come as surprise to some investors.
By Kurt Kringelis, CFA, CPA, JD, Head Macro Credit Strategist
Spreads for U.S. credit are hovering around their lowest level since the 2008 financial crisis. But that doesn’t necessarily mean they are overvalued.
By Paul Zemsky, CFA, Chief Investment Officer, Multi-Asset Strategies & Solutions
Active or passive? It’s one of the biggest decisions facing plan fiduciaries evaluating target date strategies. Yet too often this complex decision is boiled down to a narrow discussion about fees. But what does empirical evidence have to say about going active versus passive? The answer – it depends.
By Chris Gorman, Head of Structured Finance
Near-term loan maturities in the commercial mortgage-backed securities market and increased regulations are creating compelling investment opportunities in commercial real estate bridge loans.
By James Hasso, Head of U.S. Small Cap and Portfolio Manager
For investors running up against capacity constraints in small-cap, the SMID-cap growth universe may provide the best of both worlds: exposure across market caps with the potential for greater returns with less risk and more liquidity.
By Jeff Bakalar, Managing Director and Group Head of the Senior Loan Group
With the Fed signaling as many as three interest-rate increases in 2017, disappearing LIBOR floors represent another compelling reason to consider an allocation to senior bank loans.