The Atlanta-based fixed-income team remains the strength of the organization. Experienced senior leaders adhere to a disciplined and risk-aware process and are supported by ample resources, including strong research and quant teams. Voya's equity and multi-asset solutions teams based in New York, on the other hand, run strategies that lack differentiation and have struggled to demonstrate a competitive research advantage. Like many competitors, the firm made an investment in data science by acquiring a machine-learning team and technology (G Squared Capital) in 2020. Additionally, Voya bought a small-cap growth boutique (Tygh Capital Management) in 2022 in an effort to improve its equity capabilities.
In July 2022, Voya completed the transfer of most of Alliance Global Investors' U.S. business, which includes USD 93 billion assets and 78 investment professionals across income and growth, fundamental equity, and private placement teams. The agreement also ties the firms together through a partnership that should expand Voya's presence outside the United States by tapping into AGI's global distribution infrastructure. While these developments could lead to improvement, there is some uncertainty surrounding the integration of the new teams and tools into Voya's business and culture.