Voya Prime Rate Trust

Effective June 22, 2021 Voya has resigned as adviser on Prime Rate Trust. See the press release for more details.

Class A: PPR
For more information call 1 (800) 334-3444
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Voya Prime Rate Trust

This Closed-End Fund seeks a high a level of current income, consistent with preservation of capital

Daily Prices

as of May 14, 2021

Net Asset Value (NAV)$4.94
Closing Price$4.57
Price Change0.00
Premium/(Discount)-7.49

Product Facts

Ticker SymbolPPR
CUSIP92913A100
Inception DateMay 12, 1988
Dividends PaidMonthly

About this Product

  • Invests at least 80% of net assets in U.S.-dollar-denominated, floating-rate, secured senior loans
  • Targets top-tier, non-investment grade senior loans seeking to achieve superior long term risk-adjusted returns with lower volatility
  • Uses leverage to enhance return potential

Investment Objective

This Closed-End Fund seeks a high a level of current income, consistent with preservation of capital

My Representatives

Broker/Dealer Services

1-800-334-3444

Contact Us

Performance

Average Annual Total Returns %

As of April 30, 2021

As of March 31, 2021

Most Recent Month EndMost Recent Quarter EndMost Recent Month EndMost Recent Quarter End
Most Recent Month EndYTD1 YR3 YR5 YR10 YRExpense Ratios
GrossNet
Net Asset Value+2.06+15.96+0.80+2.96+4.063.03%3.03%
Market Price+3.29+19.76+1.28+3.56+2.89
Net Asset Value+1.62+20.37+0.81+3.32+4.073.03%3.03%
Market Price+4.63+30.13+1.61+3.98+3.47

Inception Date - Class A:May 12, 1988

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.

Portfolio

Portfolio Statistics

As of April 30, 2021

Net Assets millions
Net Assets:

The per-share dollar amount of the fund, calculated by dividing the total value of all the securities in its portfolio, less any liabilities, by the number of fund shares outstanding.

$600.9
Number of Holdings
Number of Holdings:

Number of Holdings in the investment.

363
Outstanding Shares121,512,273
Borrowings$0.00
Number of Issuers303
Industries Represented34
Total Assets Under Management$600,907,840.5
Borrowings as % Of AUM0.00%
Avg. Investment1,983,194.19
Avg. Investment as % of AUM0.33%
Total

Weighted Averages

As of April 30, 2021

Weighted Avg. Rating Factor
Weighted Avg. Rating Factor:

Weighted Average Rating Factor is a measure that is used by credit rating companies to determine the credit quality of a portfolio. This measure allows rating companies to look at a portfolio as a single security, and assign it a single rating.

2,401
Weighted Average Spread
Weighted Average Spread:

Weighted Average Spread is the average contractual spread of each senior loan, above its base rate.

3.33%
Weighted Avg. Coupon
Weighted Avg. Coupon:

Weighted Average Coupon is the weighted-average gross interest rates of the pool of senior loans at the time of calculation.

3.72%
Weighted Average Days To Reset
Weighted Average Days To Reset:

Weighted Average Reset measures the average number of days that the current interest rate contracts are in effect.

38.00
Weighted Average Maturity years
Weighted Average Maturity:

The length of time until the average security in a fund will mature or be redeemed by its issuer. It indicates a fund's sensitivity to interest rate changes: longer average weighted maturity implies greater volatility in response to interest rate changes.

4.65
Weighted Average Market Price
Weighted Average Market Price:

Weighted Average Market Price is calculated as the market price of each loan divided by the par amount outstanding.

98.49
Total

Portfolio Composition

as of April 30, 2021

Senior Loans100.00
- First Lien98.95
- Second Lien1.05
- Secured100.00
- Unsecured0.00
Total#,###.2

Top Issuers

as of April 30, 2021

Asurion, LLC1.15
Action Holding B.V.0.73
Altice France S.A. (fka SFR Group S.A., aka Numericable)0.71
Caesars Resort Collection0.70
Calpine Corp0.67
Sedgwick Holdings, Inc.0.65
Nexstar Broadcasting, Inc.0.63
Novolex (aka Flex Acquisition Company, Inc)0.61
Brookfield Property Partners0.58
BAUSCH HEALTH AMERICAS, INC0.52
Total#,###.2

Credit Quality

% of Total Investments as of April 30, 2021

Treasuries/Cash0.00
≥BBB4.44
BB21.19
B69.39
CCC4.68
<CCC0.27
Not Rated0.03
Total#,###.2

Sector Weightings

% of Total Investments as of April 30, 2021

Electronics/Electrical8.69
Business Equipment & Services6.86
Health Care6.06
All Telecom5.14
Diversified Insurance4.20
Radio & Television3.53
Lodging & Casinos3.27
Containers & Glass Products2.90
Automotive2.51
Retailers (Except Food & Drug)2.10
Total#,###.2

Top Country Weightings

% of Total Investments as of April 30, 2021

United States90.28
Netherlands3.50
Canada1.88
Luxembourg1.38
France1.08
United Kingdom0.71
Australia0.43
Singapore0.26
Cayman Islands0.26
Germany0.22
Total#,###.2

Information provided is not a recommendation to buy or sell any security. Portfolio data is subject to daily change.

Distributions

Payment Frequency: Monthly

Ex-Date
Ex-Date:

Date on which a stock begins trading without the benefit of the dividend. Typically, a stock’s price moves up by the dollar amount of the dividend as the ex-dividend date approaches, then falls by the amount of the dividend after that date.

Payable Date
Payable Date:

Date on which a declared stock dividend or a bond interest payment is scheduled to be paid.

Ordinary Dividends
Ordinary Dividends:

Payout to shareholders of interest, dividends, or other income received by the Fund, net of operating expenses. By law, all such income must be distributed to shareholders, who may choose to take the money in cash or reinvest it in more shares of the Fund.

Short Term Capital Gains
Short Term Capital Gains:

The profit realized from the sale of securities held for less than one year.

Long Term Capital Gains
Long Term Capital Gains:

Gain on the sale of a security where the holding period was 12 months or more and the profit was subject to the long-term capital gains tax.

Return of Capital
Return of Capital:

Returns of capital are distributions by investment companies in excess of tax-basis earnings and profits.

Total Amount
04/09/202104/22/2021$0.0000$0.0000$0.0000$0.0000$0.0110
03/09/202103/22/2021$0.0000$0.0000$0.0000$0.0000$0.0108
02/09/202102/23/2021$0.0000$0.0000$0.0000$0.0000$0.0121
01/08/202101/25/2021$0.0000$0.0000$0.0000$0.0000$0.0135
12/09/202012/22/2020$0.0000$0.0000$0.0000$0.0000$0.0144
11/09/202011/23/2020$0.0000$0.0000$0.0000$0.0000$0.0135
10/09/202010/22/2020$0.0000$0.0000$0.0000$0.0000$0.0140
09/09/202009/22/2020$0.0000$0.0000$0.0000$0.0000$0.0140
08/07/202008/24/2020$0.0000$0.0000$0.0000$0.0000$0.0145
07/09/202007/22/2020$0.0000$0.0000$0.0000$0.0000$0.0148
06/09/202006/22/2020$0.0000$0.0000$0.0000$0.0000$0.0148
05/08/202005/22/2020$0.0000$0.0000$0.0000$0.0000$0.0165
Totals: $0.1639

Investment Team

View Fund Adviser/Sub Adviser

Portfolio Management Team

Voya Investments, LLC

Investment Adviser

Voya Investments, LLC., serves as the investment adviser to each of the Funds. Voya Investments has overall responsibility for the management of the Funds. Voya Investments provides or oversees all investment advisory and portfolio management services for each Fund, and assists in managing and supervising all aspects of the general day-to-day business activities and operations of the Funds, including custodial, transfer agency, dividend disbursing, accounting, auditing, compliance and related services. The Investment Adviser may, from time to time, directly manage a portion of the Fund’s assets to seek to manage the Fund’s overall risk exposure to achieve the Fund’s desired risk/return profile and to effect the Fund’s investment strategies. The Investment Adviser may invest in futures and exchange-traded funds to implement its investment process.

Voya Investment Management Co. LLC

Investment Sub-Adviser

Voya Investment Management Co. LLC (“Voya IM” or “Sub-Adviser”), a Delaware limited liability company, was founded in 1972 and is registered with the SEC as an investment adviser. Voya IM is an indirect, wholly-owned subsidiary of Voya Financial, Inc. and is an affiliate of the Adviser. Voya IM has acted as adviser or sub-adviser to mutual funds since 1994 and has managed institutional accounts since 1972. The principal office of Voya IM is located at 230 Park Avenue, New York, New York 10169. As of December 31, 2016, Voya IM managed approximately $86.4 billion in assets.
Jeffrey Bakalar

Jeffrey A Bakalar

Group Head and Chief Investment Officer, Leveraged Credit Group

Years of Experience: 35

Years with Voya: 23

Jeff Bakalar is senior managing director, group head and chief investment officer in the leveraged credit group at Voya Investment Management. He is chairman of the group’s investment committee. He is serves as chair of the board of directors of the Loan Syndications and Trading Association. Jeff earned an MBA from DePaul University.
Chuck LeMieux

Chuck E LeMieux, CFA

Senior Vice President, Portfolio Manager, Senior Loans

Years of Experience: 34

Years with Voya: 23

Chuck LeMieux is a senior vice president, portfolio manager of senior loans in the leveraged credit group at Voya Investment Management. Chuck serves as the portfolio manager for U.S. mutual funds and offshore commingled funds and is a proxy voting member of the group’s investment committee. Prior to joining Voya, Chuck was an assistant treasurer for a major Arizona power and water utility and worked in a variety of business and investment positions in the chemicals and global mining industries. Chuck earned an MBA from the University of Arizona and is a CFA® Charterholder.

Press Releases

Disclosures

Principal Risks

All investing involves risks of fluctuating prices and the uncertainties of rates of return and yield inherent in investing.  The Trust 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 Trust’s Common Shares to decrease.  Changes in short-term market interest rates will directly affect the yield on the Trust’s Common Shares. If such rates fall, the Trust’s yield will also fall.  If interest rate spreads on Trust’s loans decline in general, the yield on the Trust’s loans will fall and the value of the Trust’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 Trust’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 Trust’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 Trust, and it may also increase the price of loans purchased by the Trust in the secondary market.  A decrease in the demand for loans may adversely affect the price of loans in the Trust’s portfolio, which would cause the Trust’s NAV to decrease.  The Trust’s use of leverage through borrowings or issuance of preferred shares can adversely affect the yield on the Trust’s Common Shares. The Trust 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 Trust may invest up to 15% of its assets in loans that are denominated in certain foreign currencies, however, the Trust will engage in currency exchange transactions to seek to hedge, as closely as practicable, 100% of the economic impact to the Trust arising from foreign currency fluctuations.  Other risks include but are not limited to: Borrowings; Preferred Shares; Diversification Risks; and Concentration Risks.