Approach
This strategy invests in fixed income sectors collateralized by distinct asset types: commercial real estate (CMBS), residential housing (RMBS), nonmortgage assets (ABS) and collateralized loan obligations (CLOs). We believe superior risk-adjusted returns are achieved through: recognition that relationships among alpha sources change, sometimes irrespective of the business cycle; fluid utilization of loan level research to discover unrecognized value ahead of consensus; and dynamic application of both macro and security-level investment inputs.
Key Benefits
- Skill of Team: Expertise of a veteran team that has the skill and ability to manage across the securitized spectrum, adjusting exposure to alpha drivers as market conditions change
- Integration of Platform: Integration into the broader MBS team, partnerships with the Voya Commercial Mortgage Loan and the Voya Senior Loan teams allows for deeper and direct insight to investment ideas
- Uniqueness of Approach: Our through the cycle approach focuses on consistency and risk-adjusted returns across market environments; not predicated on temporary dislocations
Performance
Performance
| As of 10/31/24 | 1 Month | 3 Month | YTD | 1yr | 3yr | 5yr | 10yr | Since Inception (11/01/14) |
|---|---|---|---|---|---|---|---|---|
| Gross | -0.54 | 1.55 | 7.56 | 11.90 | 3.43 | 2.62 | 4.41 | 4.41 |
| Net | -0.59 | 1.41 | 7.07 | 11.30 | 2.87 | 2.06 | 3.89 | 3.89 |
| Index* | -2.74 | -0.03 | 1.74 | 11.33 | -1.95 | -0.48 | 1.11 | 1.11 |
* Bloomberg U.S. Securitized MBS/ABS/CMBS 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
Voya IM Fixed Income Profile
Date: September 30, 2024
Approved For: Financial Professional or Qualified Institutional Investor Use Only
Voya Opportunistic Securitized Credit Strategy Brief
Date: September 30, 2024
Includes Investment Commentary
Approved For: Financial Professional or Qualified Institutional Investor Use Only
Investment Team
Dave Goodson
Head of Securitized
Years of Experience: 28
Years with Voya: 22
Jonathan Abshire, CFA
Senior Vice President, Portfolio Manager, Structured Finance
Years of Experience: 22
Years with Voya: 22
Disclosures
Principal Risk
All investments in bonds are subject to market risks. Bonds have fixed principal and return if held to maturity, but may fluctuate in the interim. Generally, when interest rates rise, bond prices fall. Bonds with longer maturities tend to be more sensitive to changes in interest rates. All investing involves risks of fluctuating prices and the uncertainties of rates of return and yield inherent in investing. High Yield Securities, or "junk bonds", are rated lower than investment-grade bonds because there is a greater possibility that the issuer may be unable to make interest and principal payments on those securities. High-yield bonds may be subject to more Liquidity Risk than, for example, investment-grade bonds. This may mean that investors seeking to sell their bonds will not receive a price that reflects the true value of the bonds (based on the bond’s interest rate and creditworthiness of the company). High Yield Bonds are also subject to Economic Risk which describes the vulnerability of a bond to changes in the economy.