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Voya Floating Rate A IFRAX

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Morningstar’s Analysis

Will IFRAX outperform in future?

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Upcoming Manager Changes Do Not Impact Morningstar Analyst Ratings on Voya Floating Rate

Associate Analyst

Analyst Note

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Voya announced that Charles LeMieux, comanager of Voya Floating Rate, will retire, effective May 31, 2021. This departure does not have a material impact on the strategy, which retains its Above Average People Pillar rating. LeMieux was officially appointed to this strategy alongside Jeff Bakalar, CIO and head of leveraged credit, in early 2020, though he has long been involved in its day-to-day operations. Kelly Byrne will replace LeMieux here. Byrne has been with the group for over 15 years and is currently a portfolio manager for institutional commingled and separate accounts. He has been working alongside LeMieux since he joined the team as a credit analyst in 2005. The supporting credit research team for this strategy was restructured recently when the previously distinct high-yield and bank-loan research teams were consolidated into one comprehensive leveraged credit group. This remains one of the largest and most experienced bank-loan teams in the market.

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