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Voya Floating Rate R IFRRX

Analyst rating as of
NAV / 1-Day Return
9.04  /  0.01 %
Total Assets
488.2 Mil
Adj. Expense Ratio
1.350%
Expense Ratio
1.350%
Fee Level
Above Average
Longest Manager Tenure
10.54 years
Category
Bank Loan
Credit Quality / Interest Rate Sensitivity
Low / Limited
Min. Initial Investment
0
Status
Open
TTM Yield
2.99%
Effective Duration
0.12 years
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Morningstar’s Analysis

Will IFRRX outperform in future?

Get our overall rating based on a fundamental assessment of the pillars below.

Upcoming Retirement Does Not Affect Ratings on Voya Floating Rate

Associate Director

Analyst Note

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Dan Norman’s upcoming retirement, effective at the end of 2020, does not have a material impact on the ratings on Voya Floating Rate; the strategy retains its Above Average People Pillar rating and current Morningstar Analyst Ratings. Norman has managed the strategy alongside comanager Jeff Bakalar since its 2010 inception and serves as co-group head of Voya’s senior loan team alongside Bakalar. Norman is currently a member of the group’s investment committee and oversees the group’s operations and administrative teams. Bakalar is the group’s chief investment officer, and he will assume sole leadership of the team following Norman’s retirement; Norman will stay on in an advisory capacity to ensure a smooth transition. Charles LeMieux, appointed to this strategy officially in February 2020, is responsible for the day-to-day operations of the strategy and is also part of the team’s investment committee. This remains one of the most robust and experienced bank-loan teams in the market, with three portfolio managers, four traders, and 11 analysts.

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