Short Duration

Approach

This strategy invests exclusively in investment grade securities while maintaining a short duration profile of 1-3 years. We believe that intensive security level research paired with a broadly informed awareness of the economic and credit cycle is critical to identifying superior investment opportunities and managing downside risk.

Key Benefits

  • A short duration and quality-focused strategy aimed at providing protection through volatile markets
  • Top-down macro themes shape overall strategy and provide context for our bottom-up security selection
  • Balanced emphasis on quantitative and qualitative inputs foster strong checks and balances and validation for our investment themes
  • Proprietary risk budgeting and management tools guide portfolio construction
  • Historically competitive absolute and risk-adjusted performance over time

Performance

Performance

As of 9/30/211 Month3 MonthYTD1yr3yr5yr10yrSince Inception (1/01/13)
Composite Gross-0.040.251.082.033.502.66-2.36
Composite Net-0.060.190.901.793.252.41-2.09
Index*-0.080.090.090.302.871.89-1.51
Gross Excess Return0.040.160.991.730.630.77-0.85

* Bloomberg U.S. Government/Credit 1-3 Year Index

Past performance does not guarantee future results.

Periods greater than one year are annualized. Performance data is considered final unless indicated as preliminary. Monthly performance is based on full GIPS Composite returns. Access the GIPS page for full composite details.

The Composite performance information represents the investment results of a group of fully discretionary accounts managed with the investment objective of outperforming the benchmark. Information is subject to change at any time. Gross returns are presented after all transaction costs, but before management fees. Returns include the reinvestment of income. Net performance is shown after the deduction of a model management fee equal to the highest fee charged.

Literature

Investment Team

Matt Toms

Matt Toms, CFA

Chief Investment Officer, Fixed Income

Years of Experience: 27

Years with Voya: 12

Matt Toms is the chief investment officer of fixed income at Voya Investment Management, leading a team of more than 200 investment professionals, with broad oversight of Voya’s fixed income platform as well as business management responsibilities. As CIO, Matt serves as the chair of the Fixed Income Asset Allocation Committee, a group that formulates the fixed income platform’s strategic investment themes that in turn informs strategy and risk budgeting across public fixed income portfolios. Matt is also a member of the Investment Committee that is represented by the CIOs from across Voya Investment Management. Before becoming CIO, Matt was head of public fixed income at Voya Investment Management, overseeing the investment teams responsible for investment grade corporate, high yield corporate, structured products, mortgage-backed securities, emerging market debt and money market strategies for Voya’s general account and third-party business. Prior to joining Voya, Matt worked at Calamos Investments, where he built their fixed income business. He also has prior portfolio management experience at Northern Trust and Lincoln National. Matt earned a BBA from the University of Michigan and is a CFA® Charterholder.
Sean Banai

Sean Banai, CFA

Head of Portfolio Management

Years of Experience: 22

Years with Voya: 22

Sean Banai is head of portfolio management for the fixed income platform at Voya Investment Management. Previously, Sean was a senior portfolio manager and before that head of quantitative research for proprietary fixed income. Prior to joining the firm in 1999, he was a partner in a private sector company. Sean received a BA and an MS in actuarial science from Georgia State University. He holds the Chartered Financial Analyst® designation.
Bob Kase

Bob Kase, CFA

Senior Portfolio Manager

Years of Experience: 37

Years with Voya: 14

Bob Kase is a senior portfolio manager at Voya Investment Management. Previously at Voya, he was the co-lead portfolio manager for proprietary investments investment grade credit. Prior to joining Voya, Bob managed corporate, ABS and CMBS for SunTrust Bank. Prior to that, Bob was a senior portfolio manager for American General. Bob earned an MBA from Georgia State University and a BS from Georgia Tech. He is a CFA® Charterholder.
Dave Goodson

Dave S Goodson

Head of Securitized

Years of Experience: 25

Years with Voya: 19

Dave Goodson is a managing director, head of securitized fixed income and a senior portfolio manager for non-agency and agency mortgage-backed securities, commercial mortgage-backed securities and asset-backed securities strategies at Voya Investment Management. Prior to joining Voya, he was a principal at an independent investment bank focused on asset-backed commercial paper transactions. Previously, Dave began his career as a vice president in Wachovia Securities’ asset-backed finance group, marketing and executing securitizations for the bank’s corporate clients. He earned a BS in management from the Georgia Institute of Technology
Randy Parrish

Randy Parrish, CFA

Head of Public Credit

Years of Experience: 31

Years with Voya: 20

Randy Parrish is a managing director and head of public credit at Voya Investment Management, overseeing the investment grade and emerging market teams. Previously at Voya, Randy was head of high yield and served as a portfolio manager and analyst on the high yield team. Prior to joining Voya, he was a corporate banker in leveraged finance with SunTrust Bank and predecessors to Bank of America. Randy earned a BBA in business administration from the University of Georgia and is a CFA® Charterholder.

Disclosures

Principal Risk

The principal risks are generally those attributable to bond investing. Holdings are subject to market, issuer, credit, prepayment, extension, and other risks, and their values may fluctuate. Market risk is the risk that securities may decline in value due to factors affecting the securities markets or particular industries. Issuer risk is the risk that the value of a security may decline for reasons specific to the issuer, such as changes in its financial condition. The strategy may invest in mortgage-related securities, which can be paid off early if the borrowers on the underlying mortgages pay off their mortgages sooner than scheduled. If interest rates are falling, the strategy will be forced to reinvest this money at lower yields. Conversely, if interest rates are rising, the expected principal payments will slow, thereby locking in the coupon rate at below market levels and extending the security’s life and duration while reducing its market value.