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.
Voya Floating Rate C IFRCX
Adjusted Expense Ratio excludes certain variable investment-related expenses, such as interest from borrowings and dividends on borrowed securities, allowing for more consistent cost comparisons across funds.
Morningstar’s Analysis
The Morningstar Analysis section contains a thorough evaluation of an investment’s merits and drawbacks and often discusses the most important or decisive factors leading to the fund’s overall rating.
The Morningstar Analysis section contains a thorough evaluation of an investment’s merits and drawbacks and often discusses the most important or decisive factors leading to the fund’s overall rating.
Will IFRCX outperform in future?
Get our overall rating based on a fundamental assessment of the pillars below.
Process Pillar
The Process Pillar is our assessment of how sensible, clearly defined, and repeatable IFRCX’s performance objective and investment process is for both security selection and portfolio construction.
People Pillar
The People Pillar is our evaluation of the IFRCX management team’s experience and ability. We find that high-quality management teams deliver superior performance relative to their benchmarks and/or peers.
Parent Pillar
The Parent Pillar is our rating of IFRCX’s parent organization’s priorities and whether they’re in line with investors’ interests.
Upcoming Manager Changes Do Not Impact Morningstar Analyst Ratings on Voya Floating Rate
