Voya Multi-Manager Mid Cap Value Fund - Class I

Class I: IMCVX
For more information call 1 (800) 334-3444
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Voya Multi-Manager Mid Cap Value Fund

The Fund seeks long-term capital appreciation.

Daily Prices

as of April 20, 2018

Net Asset Value (NAV)$11.81
% Change-0.51
$ Change-0.06
YTD Return-0.84%

Fund Facts

Ticker SymbolIMCVX
CUSIP92913K793
Inception DateOctober 3, 2011
Dividends PaidAnnually
Min. Initial Investment$250,000.00

About this Product

  • The Fund normally invests at least 80% of its net assets in common stocks of mid-capitalization companies that fall within the collective range of companies within the Russell Midcap® Index and the S&P MidCap 400 Index
  • The Fund focuses on securities that the sub-advisers believe are undervalued in the marketplace
  • The Fund expects to invest primarily in securities of U.S.-based companies, but may also invest in securities of non-U.S. companies, including companies located in countries with emerging securities markets
  • The Fund may also invest up to 20% of its net assets in real estate investment trusts (“REITs”)
  • Hahn Capital Management, LLC, LSV Asset Management, and Wellington Management Company, LLP provide the day-to-day management of the Fund and utilize their own respective methodologies when selecting investments

Investment Objective

The Fund seeks long-term capital appreciation.

Management Team

View Fund Advisor/Sub Advisor

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.

Wellington Management Company, LLP

Investment Sub-Adviser

Wellington Management Company LLP (“Wellington Management” or “Sub-Adviser”) is a Delaware limited liability partnership. Wellington Management is a professional investment counseling firm which provides investment services to investment companies, employee benefit plans, endowments, foundations, and other institutions. Wellington Management and its predecessor organizations have provided investment advisory services for over 80 years. Wellington Management is owned by the partners of Wellington Management Group LLP, a Massachusetts limited liability partnership. The principal address of Wellington Management is 280 Congress Street, Boston, Massachusetts 02210. As of December 31, 2015, Wellington Management had investment management authority with respect to approximately $926 billion in assets.

LSV Asset Management

Investment Sub-Adviser

LSV Asset Management (“LSV” or “Sub-Adviser”) was established in 1994 and specializes in value equity management for institutional investors around the world. LSV is a partnership between LSV’s employees and management team, owners of a majority position, and SEI Funds, Inc., a wholly-owned subsidiary of SEI Investments Company and the owner of a minority position.

Hahn Capital Management, LLC

Hahn Capital Management, LLC (“Hahn Capital Management” or “Sub-Adviser”) an investment adviser registered with the SEC, was founded in 1988 by Elaine F. Hahn, who is the firm’s current President and Chief Investment Officer. In 2004, Hahn Capital Management was converted from a wholly-owned LLC to a Member-Managed LLC. Hahn Capital Management is 100% employee owned with four managing members. Hahn Capital Management provides non-custodial full discretionary investment advisory services to its clients. Hahn Capital Management provides investment advice on investment types including mid cap value equity, mid cap core equity and equity value strategies.

Elaine F Hahn

Portfolio Manager

Managed Fund since 2014

More Info
Elaine F. Hahn, Portfolio Manager, is also the President, Chief Investment Officer, and Founding Partner of Hahn Capital Management and has been with Hahn Capital Management since its inception in 1988.

Greg Sleight

Portfolio Manager

Managed Fund since 2014

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Greg Sleight, Portfolio Manager, is also a Partner of LSV and has been with LSV since 2006.

Puneet Mansharamani, CFA

Portfolio Manager

Managed Fund since 2014

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Puneet Mansharamani, CFA, Portfolio Manager, is also a Partner of LSV and has been with LSV since 2000.

Stephen E Kylander

Portfolio Manager

Managed Fund since 2011

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Vice president and senior portfolio manager, joined RBC GAM (US) as an investment professional in 2006.

Guy Lakonishok, CFA

Portfolio Manager

Managed Fund since 2014

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Guy Lakonishok, CFA, Portfolio Manager, is also a Partner of LSV and has been with LSV since 2009.

Jody Hrazanek

Portfolio Manager

Managed Fund since

More Info
Jody Hrazanek is head of strategy design and implementation for Multi-Asset Strategies and Solutions (MASS) at Voya Investment Management. She is responsible for overseeing the portfolio implementation, strategy design and customized solutions teams for a variety of investment solutions including asset allocation, derivatives/financial engineering, risk management, portable alpha and structured products. Previously at Voya, she was a derivatives trader with responsibility for Voya IM’s third-party business as well as the firm’s general account. Prior to joining Voya, she was a convertible bond trader at Advent Capital Management. Prior to that, she was a convertible bond portfolio manager and risk arbitrage trader at Merrill Lynch Quantitative Advisors and Deutsche Bank Asset Management. Jody began her career as an analyst at Goldman Sachs. Jody graduated Summa Cum Laude from Fairfield University with a BS in mathematics and has a MS in statistics and operations research from New York University, Stern School of Business.

James N Mordy

Portfolio Manager

Managed Fund since 2011

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James N. Mordy, Senior Vice President and Equity Portfolio Manager, joined Wellington Management as an investment professional in 1985.

John D Schaeffer

Portfolio Manager

Managed Fund since 2014

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John D. Schaeffer, Portfolio Manager, is also the Director of Research and a Partner of Hahn Capital Management and has been with Hahn Capital Management since 2003.

Josef Lakonishok, PhD

Portfolio Manager

Managed Fund since 2014

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Josef Lakonishok, Ph.D., Portfolio Manager, is also the Chief Executive Officer, Chief Investment Officer, and a Founding Partner of LSV and has been with LSV since its inception in 1994.

Halvard Kvaale, CIMA

Portfolio Manager

Managed Fund since

More Info
Halvard Kvaale is head of manager research and selection for Multi-Asset Strategies and Solutions (MASS) at Voya Investment Management. In this role he is responsible for manager selection and oversight of Voya mutual funds, manager selection and portfolio construction for MASS multi-asset portfolios and selection and oversight for the Voya General Account alternative investment portfolio. Prior to joining Voya in 2012, Halvard was managing director and head of the Morgan Stanley Smith Barney Consulting Group’s portfolio advisory services group. In this role, he was responsible for the management of the firm’s discretionary programs within Morgan Stanley Smith Barney overseeing more than $26 billion in client assets. Upon joining Morgan Stanley, he served as the head of global advisor research in the consulting services group overseeing the research and due diligence of third party investment managers globally. Previously, he served as the head of global manager research and fee-based advisory solutions at Deutsche Bank, and at Prudential Investments he managed the third party consulting programs, ran the investment management analysis unit and the senior consulting group. Halvard graduated from the Norwegian School of Management with an MS in general business, and graduated Summa Cum Laude with an MS in investing from San Francisco State University. Halvard holds a Certified Investment Management Analyst (CIMA) designation from the Wharton School of Business.

Lance F James

Portfolio Manager

Managed Fund since 2011

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Portfolio Manager (since 09/11)

Menno Vermeulen, CFA

Portfolio Manager

Managed Fund since 2014

More Info
Menno Vermeulen, CFA, Portfolio Manager, is also a Partner of LSV and has been with LSV since 1995.

My Representatives

Broker/Dealer Services

1-800-334-3444

Contact Us

Performance

Average Annual Total Returns %

As of March 31, 2018

As of March 31, 2018

Most Recent Month EndMost Recent Quarter EndMost Recent Month EndMost Recent Quarter End
Most Recent Month EndYTD1 YR3 YR5 YR10 YRInceptionExpense Ratios
GrossNet
Net Asset Value-1.85+8.94+6.27+10.78+16.340.86%0.84%
Net Asset Value-1.85+8.94+6.27+10.78+16.340.86%0.84%
Russell Midcap Value Index-2.50+6.50+7.23+11.11+16.56
Russell Midcap Value Index-2.50+6.50+7.23+11.11+16.56

Inception Date - Class I:October 3, 2011

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 Based Statistics

As of March 31, 2018

3 Year5 Year10 Year
Standard Deviation
Standard Deviation:

A measure of the degree to which an individual probability value varies from the distribution mean. The higher the number, the greater the risk.

11.2311.10
Beta
Beta:

The sensitivity of a portfolio's returns to changes in the return of the market as measured by the index or benchmark that represents the market. A portfolio with a beta of 1.0 behaves exactly like the index. A beta less than 1.0 suggests lower risk than the index, while a beta greater than 1.0 indicates a risk level higher than the index.

1.011.04
R2
R2:

The proportion of the variation in a portfolio's returns that can be explained by the variability of the returns of an index. High R-squared (close to 1.0) is usually consistent with broad diversification.

93.6093.31
Alpha
Alpha:

A measure of risk-adjusted performance; alpha reflects the difference between a portfolio's actual return and the return that could be expected give its risk as measured by beta.

-0.92-0.68
Sharpe Ratio
Sharpe Ratio:

A risk-adjusted measure calculated using standard deviation and excess return to determine reward per unit of risk. The higher the Sharpe ratio, the better the portfolio's historical risk-adjusted performance.

0.550.95
Tracking Error
Tracking Error:

A measure of how closely the returns of a portfolio tend to follow the returns of the index to which it is benchmarked; specifically, the variability of excess returns around the average.

2.842.91
Information Ratio
Information Ratio:

The ratio of portfolio returns in excess of a market index to the variability of those excess returns; in effect, information ratio describes the value added by active management in relation to the risk taken to achieve those returns.

-0.34-0.11

Calendar Year Returns %

Past performance is no guarantee of future results. Returns are shown in %. These figures are for the year ended December 31 of each year. They do not reflect sales charges and would be lower if they did. The bar chart above shows the Fund's annual returns and long-term performance, and illustrates the variability of the Fund’s returns.

Growth of a $10,000 Investment

For the period 10/03/2011 through 03/31/2018

Ending Value: $26,710.00

The performance quoted in the "Growth of a $10,000 Investment" chart represents past performance. Performance shown is without sales charges; had sales charges been deducted, performance would have been less. Ending value includes reinvestment of distributions.

Portfolio

Portfolio Statistics

As of March 31, 2018

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.

$222.3
Number of Holdings
Number of Holdings:

Number of Holdings in the investment.

247
Total

Top Holdings

% of Total Investments as of March 31, 2018

Keysight Technologies, Inc.1.84
Reliance Steel & Aluminum Co.1.70
Ross Stores, Inc.1.42
CBRE Group, Inc.1.35
Diamondback Energy, Inc.1.33
Becton Dickinson & Co.1.32
SEI Investments Co.1.29
Hexcel Corp.1.28
PVH Corp.1.23
Agilent Technologies, Inc.1.12
Total#,###.2

Portfolio Composition

as of March 31, 2018

Stocks98.05
Short Terms1.95
Total#,###.2

Sector Weightings

% of Total Investments as of March 31, 2018

Financials20.95
Industrials17.49
Consumer Discretionary11.76
Information Technology11.38
Real Estate10.20
Materials7.58
Health Care7.13
Energy5.52
Utilities4.37
Consumer Staples3.15
Telecommunication Services0.47
Total#,###.2

Top Country Weightings

% of Total Investments as of March 31, 2018

United States94.37
United Kingdom1.53
Sweden0.46
Japan0.43
Taiwan0.34
Bermuda0.33
Singapore0.25
Italy0.21
Spain0.13
Total#,###.2

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

Distributions

Distributions: Last 12 Months

Payment Frequency: Annually

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.

Record Date
Record Date:

Date on which a shareholder must officially own shares in order to be entitled to a dividend. After the date of record, the stock is said to be ex-dividend.

Amount
Income Dividend12/15/201712/18/201712/14/2017$0.094300
Short-Term Capital Gain12/15/201712/18/201712/14/2017$0.006400
Long-Term Capital Gain12/15/201712/18/201712/14/2017$0.744000
Totals: $0.844700

Ratings

Morningstar™ Ratings

As of March 31, 2018

Overall3 Year5 Year10 Year
361 Funds361 Funds309 Funds N/A

Category: Fund Mid-Cap Value

Disclosures

Principal Risks

You could lose money on an investment in the Fund. Any of the following risks, among others, could affect Fund performance or cause the Fund to lose money or to underperform market averages of other funds.

Company

The price of a given company’s stock could decline or underperform for many reasons including, among others, poor management, financial problems, or business challenges. If a company declares bankruptcy or becomes insolvent, its stock could become worthless.

Currency

To the extent that the Fund invests directly in foreign currencies or in securities denominated in, or that trade in, foreign (non-U.S.) currencies, it is subject to the risk that those currencies will decline in value relative to the U.S. dollar or, in the case of hedging positions, that the U.S. dollar will decline in value relative to the currency being hedged.

Foreign Investments/Developing and Emerging Markets

Investing in foreign (non-U.S.) securities may result in the Fund experiencing more rapid and extreme changes in value than a fund that invests exclusively in securities of U.S. companies, due to smaller markets, differing reporting, accounting and auditing standards, and nationalization, expropriation or confiscatory taxation, foreign currency fluctuations, currency blockage, or political changes or diplomatic developments. Foreign investment risks typically are greater in developing and emerging markets than in developed markets.

Investment Model

The Sub-Adviser’s proprietary model may not adequately allow for existing or unforeseen market factors or the interplay between such factors.

Liquidity

If a security is illiquid, the Fund might be unable to sell the security at a time when the Fund’s manager might wish to sell, and the security could have the effect of decreasing the overall level of the Fund’s liquidity. Further, the lack of an established secondary market may make it more difficult to value illiquid securities, which could vary from the amount the Fund could realize upon disposition. The Fund may make investments that become less liquid in response to market developments or adverse investor perception. The Fund could lose money if it cannot sell a security at the time and price that would be most beneficial to the Fund.

Market

Stock prices are volatile and are affected by the real or perceived impacts of such factors as economic conditions and political events. The stock market tends to be cyclical, with periods when stock prices generally rise and periods when stock prices generally decline. Any given stock market segment may remain out of favor with investors for a short or long period of time, and stocks as an asset class may underperform bonds or other asset classes during some periods.

Market Capitalization

Stocks fall into three broad market capitalization categories - large, mid, and small. Investing primarily in one category carries the risk that, due to current market conditions, that category may be out of favor with investors. If valuations of large-capitalization companies appear to be greatly out of proportion to the valuations of mid- or small-capitalization companies, investors may migrate to the stocks of mid- and small-sized companies causing the Fund that invests in these companies to increase in value more rapidly than a fund that invests in larger, fully-valued companies. Investing in mid- and small-capitalization companies may be subject to special risks associated with narrower product lines, more limited financial resources, smaller management groups, and a more limited trading market for their stocks as compared with larger companies. As a result, stocks of mid- and small-capitalization companies may decline significantly in market downturns.

Mid-Capitalization Company

Investments in mid-capitalization companies involve greater risk than is customarily associated with larger, more established companies due to the greater business risks of small size, limited markets and financial resources, narrow product lines and the frequent lack of depth of management. The securities of smaller companies are often traded over-the-counter and may not be traded in volume typical on a national securities exchange. Consequently, the securities of smaller companies may have limited market stability and may be subject to more abrupt or erratic market movements than securities of larger, more established growth companies or the market averages in general.

Other Investment Companies

The main risk of investing in other investment companies, including exchange-traded funds, is the risk that the value of the securities underlying an investment company might decrease. Because the Fund may invest in other investment companies, you will pay a proportionate share of the expenses of that other investment company (including management fees, administration fees, and custodial fees) in addition to the expenses of the Fund.

Real Estate Companies and Real Estate Investment Trusts ("REITs")

Investing in real estate companies and REITs may subject the Fund to risks similar to those associated with the direct ownership of real estate, including losses from casualty or condemnation, changes in local and general economic conditions, supply and demand, interest rates, zoning laws, regulatory limitations on rents, property taxes, and operating expenses in addition to terrorist attacks, war, or other acts that destroy real property.

Securities Lending

Securities lending involves two primary risks: “investment risk” and “borrower default risk.” Investment risk is the risk that the Fund will lose money from the investment of the cash collateral received from the borrower. Borrower default risk is the risk that the Fund will lose money due to the failure of a borrower to return a borrowed security in a timely manner.

Value Investing

Securities that appear to be undervalued may never appreciate to the extent expected. Further, because the prices of value-oriented securities tend to correlate more closely with economic cycles than growth-oriented securities, they generally are more sensitive to changing economic conditions, such as changes in interest rates, corporate earnings and industrial production.

An investment in the Fund is not a bank deposit and is not insured or guaranteed by the Federal Deposit Insurance Corporation, the Federal Reserve Board or any other government agency.