Approach
Key Benefits
- Skill of Team and Strength of Platform: Dedicated team with experience through multiple economic and market cycles and deep knowledge of industry sectors and issuers, leveraging the resources of the broader fixed income platform
- Balance of Risk and Return: The team employs multiple return drivers to help maximize both alpha and consistency of alpha
- Nimbleness of Approach: We have an asset base large enough to support needed resources, but are not capacity constrained, and we are flexible and have the ability to take impactful positions in smaller issues that may be less efficiently priced
Performance
Performance
| As of 5/31/19 | 1 Month | 3 Month | YTD | 1yr | 3yr | 5yr | 10yr | Since Inception (1/01/99) |
|---|---|---|---|---|---|---|---|---|
| Composite Gross | -1.07 | 1.64 | 8.33 | 6.25 | 6.82 | 4.73 | 9.76 | 7.10 |
| Composite Net | -1.10 | 1.52 | 8.13 | 5.74 | 6.30 | 4.22 | 9.24 | 6.55 |
| Index* | -1.19 | 1.16 | 7.49 | 5.50 | 7.04 | 4.41 | 9.29 | 6.86 |
| Gross Excess Return | 0.12 | 0.48 | 0.84 | 0.74 | -0.22 | 0.32 | 0.47 | 0.24 |
* Bloomberg Barclays U.S. High Yield 2% Issuer Cap 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
Fixed Income Capabilities Guide
Voya exploits alpha opportunities across the fixed income spectrum, with differentiated capabilities beyond traditional sectors.
Approved For: Qualified Institutional Investor Use Only
Voya High Yield Strategy Brief
Q1 2019
Includes Investment Commentary
Approved For: Financial Professional or Qualified Institutional Investor Use Only
Expanding Fixed Income Menus in DC Plans
In DC plans, fixed income investment options often lack diversity. Expanding fund lineups to include a wider range of fixed income strategies could potentially help investors increase risk-adjusted returns.
Approved For: Financial Professional or Qualified Institutional Investor Use Only
Investment Team
Randy Parrish, CFA
Head of Credit
Years of Experience: 18
Randy Parrish is a managing director, head of credit and a senior high yield portfolio manager at Voya Investment Management. As head of credit, Randy oversees the high yield, investment grade and emerging market teams. Previously, Randy was head of high yield and served as a portfolio manager and analyst on the high yield team since joining Voya in 2001. Prior to joining the firm, he was a corporate banker in leveraged finance with SunTrust Bank and predecessors to Bank of America. Randy received a BBA in business administration from the University of Georgia and holds the Chartered Financial Analyst® designation.
Rick C Cumberledge, CFA
Head of High Yield
Years of Experience: 12
Rick Cumberledge is head of high yield and a senior high yield portfolio manager at Voya Investment Management. Prior to joining the firm, Rick spent nearly six years working at Federated Investors as a senior high yield credit analyst. His previous experience includes positions with American Capital Strategies, Bank of America and Allied Capital. Rick has a BA in business administration from Westminster College and an MSc in finance from the George Washington University. He holds the Chartered Financial Analyst® designation.