Investment Management

Voya Senior Income Fund - Class A

Class T shares of the Fund are not currently offered.

Fund Description

Overview

  • Interval fund designed to provide investors with a high level of monthly income
  • Invests in ultra-short duration 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
  • Invests at least 80% of its assets in below investment grade quality loans made to business entities domiciled in the U.S. and Canada
  • As a fundamental policy, which may not be changed without shareholder approval, the Fund offers shareholders the opportunity to redeem their Common Shares on a monthly basis

Investment Objective

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

Limited Liquidity For Investors

The Fund does not repurchase its shares on a daily basis and no market for the Fund's Common Shares is expected to exist. To provide a measure of liquidity, the Fund will normally make monthly repurchase offers for not less than 5% of its outstanding Common Shares. If more than 5% of Common Shares are tendered for repurchase by investors, investors may not be able to completely liquidate their holdings in any one month. Shareholders also will not have liquidity between these monthly repurchase dates.

Daily Prices as of 10/17/2017

Net Asset Value (NAV) $12.53
% Change 0.00
$ Change 0.00
Public Offering Price (POP) $12.85
YTD Return +1.79%

Lookup Historical Prices

Fund Facts

Ticker Symbol XSIAX
CUSIP 92913F109
Inception Date Apr 02, 2001
Dividends Paid Monthly
Min. Initial Investment $1,000.00

Management Team

Jeffrey A. Bakalar

Portfolio Manager

Managed Fund since 2001

Dan Norman

Portfolio Manager

Managed Fund since 2001

More Info

Average Annual Total Returns %

  As of Sep 30, 2017 As of Sep 30, 2017 Expense Ratios
  YTD 1 YR 3 YR 5 YR 10 YR Gross Net 1, 2
Net Asset Value +1.32 +4.00 +3.67 +4.79 +4.09 2.23% 2.18%
With Sales Charge -1.22 +1.36 +2.80 +4.26 +3.83
S&P/LSTA Leveraged Loan Index +2.97 +5.30 +3.87 +4.09 +4.72
Net Asset Value +1.32 +4.00 +3.67 +4.79 +4.09 2.23% 2.18%
With Sales Charge -1.22 +1.36 +2.80 +4.26 +3.83
S&P/LSTA Leveraged Loan Index +2.97 +5.30 +3.87 +4.09 +4.72

Inception Date - Class A: 04/02/01

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 July 1, 2018. If the Fund were not to borrow, or the interest expense on the borrowings is excluded from the expenses of the Fund, the net annual expenses for Class A, Class C, Class I, and Class W shares would be 1.35%, 1.85%, 1.10%, and 1.10%, respectively.

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

The Fund invests primarily in below investment-grade, floating rate senior loans that carry a higher than normal risk that borrowers may default in the timely payment of principal and interest on their loans, which would likely cause the value of the Fund's Common Shares to decrease. Changes in short-term market interest rates will directly affect the yield on the Fund's Common Shares. If such rates fall, the Fund's yield will also fall. If interest rate spreads on Fund's loans decline in general, the yield on the Fund's loans will fall and the value of the Fund's loans may decrease. When short-term market interest rates rise, because of the lag between changes in such short-term rates and the resetting of the floating rates on loans in the Fund's portfolio, the impact of rising rates will be delayed to the extent of such lag. Because of the limited secondary market for floating rate senior bank loans, the Fund's ability to sell its loans in a timely fashion and/or at a favorable price may be limited. An increase in the demand for loans may adversely affect the rate of interest payable on new loans acquired by the Fund, and it may also increase the price of loans purchased by the Fund in the secondary market. A decrease in the demand for loans may adversely affect the price of loans in the Fund's portfolio, which would cause the Fund's NAV to decrease. The Fund's use of leverage through borrowings can adversely affect the yield on the Fund's Common Shares. Due to Limited Liquidity for Investors the Fund does not repurchase its shares on a daily basis and no market for the Fund's Common Shares is expected to exist. If more than 5% of Common Shares are tendered in any month, investors may not be able to completely liquidate their holdings in that month. The Fund may invest up to 20% of its assets in loans to borrowers in countries outside of the U.S. and Canada. Investment in foreign borrowers involves special risks, including potentially less rigorous accounting requirements, differing legal systems and potential political, social and economic adversity. The Fund may invest up to 15% of its assets in loans that are denominated in certain foreign currencies; however, the Fund will engage in currency exchange transactions to seek to hedge, as closely as practicable, 100% of the economic impact to the Fund arising from foreign currency fluctuations. Other risks of the Fund include but are not limited to: Borrowings; Preferred Shares; 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 risks.
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