UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Form N-CSR
CERTIFIED SHAREHOLDER REPORT OF
REGISTERED MANAGEMENT INVESTMENT COMPANIES
Investment Company Act file number: 811-08934
Voya Strategic Allocation Portfolios, Inc.
(Exact name of registrant as specified in charter)
7337 East Doubletree Ranch Road, Suite 100, Scottsdale, AZ | 85258 |
(Address of principal executive offices) | (Zip code) |
The Corporation Trust Incorporated, 300 East Lombard Street, Baltimore, MD 21201
(Name and address of agent for service)
Registrant’s telephone number, including area code: 1-800-992-0180
Date of fiscal year end: December 31
Date of reporting period: December 31, 2016
Item 1. Reports to Stockholders.
The following is a copy of the report transmitted to stockholders pursuant to Rule 30e-1 under the Act (17 CFR 270.30e-1):
This report is submitted for general information to shareholders of the Voya mutual funds. It is not authorized for distribution to prospective shareholders unless accompanied or preceded by a prospectus which includes details regarding the funds’ investment objectives, risks, charges, expenses and other information. This information should be read carefully. |
INVESTMENT MANAGEMENT | ![]() |
voyainvestments.com |
President’s Letter | 1 | |||||
Market Perspective | 2 | |||||
Portfolio Managers’ Report | 4 | |||||
Shareholder Expense Examples | 9 | |||||
Report of Independent Registered Public Accounting Firm | 10 | |||||
Statements of Assets and Liabilities | 11 | |||||
Statements of Operations | 12 | |||||
Statements of Changes in Net Assets | 13 | |||||
Financial Highlights | 15 | |||||
Notes to Financial Statements | 16 | |||||
Portfolios of Investments | 24 | |||||
Tax Information | 32 | |||||
Director and Officer Information | 33 | |||||
Advisory contract Approval Discussion | 37 |
PROXY VOTING INFORMATION
QUARTERLY PORTFOLIO HOLDINGS
The Portfolios file their complete schedule of portfolio holdings with the SEC for the first and third quarters of each fiscal year on Form N-Q. The Portfolios’ Forms N-Q are available on the SEC’s website at www.sec.gov. The Portfolios’ Forms N-Q may be reviewed and copied at the SEC’s Public Reference Room in Washington, D.C., and information on the operation of the Public Reference Room may be obtained by calling (800) SEC-0330. The Portfolios’ Forms N-Q, as well as a complete portfolio of investments, are available without charge upon request from the Portfolios by calling Shareholder Services toll-free at (800) 992-0180.
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Dear Shareholder,
Sincerely,
President and Chief Executive Officer
Voya Family of Funds
January 19, 2017
The views expressed in the President’s Letter reflect those of the President as of the date of the letter. Any such views are subject to change at any time based upon market or other conditions and the Voya mutual funds disclaim any responsibility to update such views. These views may not be relied on as investment advice and because investment decisions for a Voya mutual fund are based on numerous factors, may not be relied on as an indication of investment intent on behalf of any Voya mutual fund. Reference to specific company securities should not be construed as recommendations or investment advice.
BENCHMARK DESCRIPTIONS
Index | Description |
---|---|
Bloomberg Barclays High Yield Bond — 2% Issuer Constrained Composite Index | An index that includes all fixed-income securities having a maximum quality rating of Ba1, a minimum amount outstanding of $150 million, and at least one year to maturity. |
Bloomberg Barclays U.S. Aggregate Bond Index | An index of publicly issued investment grade U.S. Government, mortgage-backed, asset-backed and corporate debt securities. |
Bloomberg Barclays U.S. Corporate Investment Grade Bond Index | An index consisting of publicly issued, fixed rate, nonconvertible, investment grade debt securities. |
Bloomberg Barclays U.S. Treasury Bond Index | A market capitalization-weighted index that measures the performance of public obligations of the U.S. Treasury that have a remaining maturity of one year or more. |
MSCI Europe ex UK® Index | A free float-adjusted market capitalization index that is designed to measure developed market equity performance in Europe, excluding the UK. |
MSCI Japan® Index | A free float-adjusted market capitalization index that is designed to measure developed market equity performance in Japan. |
MSCI UK® Index | A free float-adjusted market capitalization index that is designed to measure developed market equity performance in the UK. |
MSCI World IndexSM | An index that measures the performance of over 1,400 securities listed on exchanges in the U.S., Europe, Canada, Australia, New Zealand and the Far East. |
Russell 3000® Index | An index that measures the performance of the largest 3000 U.S. companies representing approximately 98% of the investable U.S. equity market. |
S&P 500® Index | An index that measures the performance of securities of approximately 500 large-capitalization companies whose securities are traded on major U.S. stock markets. |
VOYA STRATEGIC ALLOCATION PORTFOLIOS | PORTFOLIO MANAGERS’ REPORT |
PORTFOLIO MANAGERS’ REPORT | VOYA STRATEGIC ALLOCATION PORTFOLIOS |
Conservative | Moderate | Growth | ||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|
U.S. Large Blend | 8.5 | % | 14.5 | % | 13.5 | % | ||||||
U.S. Large Growth | 4.0 | % | 10.5 | % | 13.0 | % | ||||||
U.S. Large Value | 8.0 | % | 13.5 | % | 14.0 | % | ||||||
U.S. Mid Cap Blend | 7.5 | % | 9.0 | % | 14.0 | % | ||||||
U.S. Small Cap | 2.0 | % | 2.0 | % | 3.0 | % | ||||||
International | 7.0 | % | 9.0 | % | 16.0 | % | ||||||
Emerging Markets | 2.0 | % | 2.0 | % | 4.0 | % | ||||||
U.S. Real Estate | 1.0 | % | 1.0 | % | 1.0 | % | ||||||
Global Real Estate | 1.0 | % | 1.0 | % | 1.0 | % | ||||||
Commodities | 2.0 | % | 1.5 | % | 1.5 | % | ||||||
Core Fixed Income | 25.0 | % | 19.0 | % | 10.3 | % | ||||||
High Yield | 7.0 | % | 5.0 | % | 3.0 | % | ||||||
Senior Debt | 6.0 | % | 5.0 | % | 3.0 | % | ||||||
International Bonds | 5.0 | % | 2.0 | % | 2.0 | % | ||||||
TIPS | 4.0 | % | — | — | ||||||||
Short Duration | 10.0 | % | 4.3 | % | — | |||||||
Long Gov’t Bonds | — | 0.7 | % | 0.7 | % | |||||||
Total Equity | 43 | % | 64 | % | 81 | % | ||||||
Total Fixed Income | 57 | % | 36 | % | 19 | % |
Portfolio holdings and characteristics are subject to change and may not be representative of current holdings and characteristics. Portfolio holdings are subject to change daily. The outlook for this Portfolio may differ from that presented for other Voya mutual funds. The Portfolio’s performance returns shown reflect applicable fee waivers and/or expense limits in effect during this period. Absent such fee waivers/expense limitations, if any, performance would have been lower. Performance for the different classes of shares will vary based on differences in fees associated with each class.
VOYA STRATEGIC ALLOCATION CONSERVATIVE PORTFOLIO | PORTFOLIO MANAGERS’ REPORT |
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Average Annual Total Returns for the Periods Ended December 31, 2016 | |||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
1 Year | 5 Year | 10 Year | |||||||||||||
Class I | 5.69 | % | 7.20 | % | 4.32 | % | |||||||||
Class S | 5.47 | % | 6.94 | % | 4.07 | % | |||||||||
Bloomberg Barclays U.S. Aggregate Bond Index | 2.65 | % | 2.23 | % | 4.34 | % | |||||||||
PORTFOLIO MANAGERS’ REPORT | VOYA STRATEGIC ALLOCATION GROWTH PORTFOLIO |
Average Annual Total Returns for the Periods Ended December 31, 2016 | |||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
1 Year | 5 Year | 10 Year | |||||||||||||
Class I | 6.93 | % | 9.65 | % | 3.88 | % | |||||||||
Class S | 6.63 | % | 9.37 | % | 3.62 | % | |||||||||
Russell 3000® Index | 12.74 | % | 14.67 | % | 7.07 | % | |||||||||
VOYA STRATEGIC ALLOCATION MODERATE PORTFOLIO | PORTFOLIO MANAGERS’ REPORT |
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Average Annual Total Returns for the Periods Ended December 31, 2016 | |||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
1 Year | 5 Year | 10 Year | |||||||||||||
Class I | 6.64 | % | 8.42 | % | 4.08 | % | |||||||||
Class S | 6.32 | % | 8.16 | % | 3.81 | % | |||||||||
Russell 3000® Index | 12.74 | % | 14.67 | % | 7.07 | % | |||||||||
Actual Portfolio Return | Hypothetical (5% return before expenses) | ||||||||||||||||||||||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Beginning Account Value July 1, 2016 | Ending Account Value December 31, 2016 | Annualized Expense Ratio* | Expenses Paid During the Period Ended December 31, 2016** | Beginning Account Value July 1, 2016 | Ending Account Value December 31, 2016 | Annualized Expense Ratio* | Expenses Paid During the Period Ended December 31, 2016** | ||||||||||||||||||||||||||||
Voya Strategic Allocation Conservative Portfolio | |||||||||||||||||||||||||||||||||||
Class I | $ | 1,000.00 | $ | 1,026.20 | 0.22 | % | $ | 1.12 | $ | 1,000.00 | $ | 1,024.03 | 0.22 | % | $ | 1.12 | |||||||||||||||||||
Class S | 1,000.00 | 1,025.60 | 0.47 | 2.40 | 1,000.00 | 1,022.77 | 0.47 | 2.39 | |||||||||||||||||||||||||||
Voya Strategic Allocation Growth Portfolio | |||||||||||||||||||||||||||||||||||
Class I | $ | 1,000.00 | $ | 1,051.70 | 0.19 | % | $ | 0.98 | $ | 1,000.00 | $ | 1,024.18 | 0.19 | % | $ | 0.97 | |||||||||||||||||||
Class S | 1,000.00 | 1,050.50 | 0.44 | 2.27 | 1,000.00 | 1,022.92 | 0.44 | 2.24 | |||||||||||||||||||||||||||
Voya Strategic Allocation Moderate Portfolio | |||||||||||||||||||||||||||||||||||
Class I | $ | 1,000.00 | $ | 1,041.10 | 0.22 | % | $ | 1.13 | $ | 1,000.00 | $ | 1,024.03 | 0.22 | % | $ | 1.12 | |||||||||||||||||||
Class S | 1,000.00 | 1,039.70 | 0.47 | 2.42 | 1,000.00 | 1,022.77 | 0.47 | 2.39 |
* | The annualized expense ratios do not include expenses of the underlying funds. |
** | Expenses are equal to each Portfolio’s respective annualized expense ratios multiplied by the average account value over the period, multiplied by 184/366 to reflect the most recent fiscal half-year. |
Voya Strategic Allocation Portfolios, Inc.
February 23, 2017
Voya Strategic Allocation Conservative Portfolio | Voya Strategic Allocation Growth Portfolio | Voya Strategic Allocation Moderate Portfolio | ||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
ASSETS: | ||||||||||||||
Investments in affiliated underlying funds at fair value* | $ | 64,962,622 | $ | 127,424,201 | $ | 125,655,162 | ||||||||
Investments in unaffiliated underlying funds at fair value** | 9,077,885 | 11,612,079 | 13,754,227 | |||||||||||
Total investments at fair value | $ | 74,040,507 | $ | 139,036,280 | $ | 139,409,389 | ||||||||
Cash | 117,907 | 205,034 | 235,447 | |||||||||||
Receivables: | ||||||||||||||
Investments in affiliated underlying funds sold | 105,111 | 600,219 | 132,446 | |||||||||||
Fund shares sold | 4,638 | 5,791 | 2,555 | |||||||||||
Dividends | 134,859 | 94,679 | 158,667 | |||||||||||
Prepaid expenses | 320 | 582 | 575 | |||||||||||
Reimbursement due from manager | 1,629 | 6,016 | 1,268 | |||||||||||
Other assets | 6,791 | 11,804 | 12,106 | |||||||||||
Total assets | 74,411,762 | 139,960,405 | 139,952,453 | |||||||||||
LIABILITIES: | ||||||||||||||
Payable for investments in affiliated underlying funds purchased | 94,611 | 61,351 | 125,309 | |||||||||||
Payable for fund shares redeemed | 109,750 | 606,010 | 135,001 | |||||||||||
Payable for investment management fees | 12,580 | 21,145 | 22,067 | |||||||||||
Payable for distribution and shareholder service fees | 662 | 597 | 476 | |||||||||||
Payable for directors fees | 379 | 696 | 690 | |||||||||||
Payable to directors under the deferred compensation plan (Note 6) | 6,791 | 11,804 | 12,106 | |||||||||||
Other accrued expenses and liabilities | 39,041 | 50,099 | 51,185 | |||||||||||
Total liabilities | 263,814 | 751,702 | 346,834 | |||||||||||
NET ASSETS | $ | 74,147,948 | $ | 139,208,703 | $ | 139,605,619 | ||||||||
NET ASSETS WERE COMPRISED OF: | ||||||||||||||
Paid-in capital | $ | 70,563,045 | $ | 133,535,645 | $ | 136,262,024 | ||||||||
Undistributed net investment income | 1,777,761 | 2,475,616 | 2,785,950 | |||||||||||
Accumulated net realized loss | (2,969,590 | ) | (17,005,852 | ) | (14,420,069 | ) | ||||||||
Net unrealized appreciation | 4,776,732 | 20,203,294 | 14,977,714 | |||||||||||
NET ASSETS | $ | 74,147,948 | $ | 139,208,703 | $ | 139,605,619 | ||||||||
* Cost of investments in affiliated underlying funds | $ | 60,368,201 | $ | 107,454,719 | $ | 111,118,919 | ||||||||
** Cost of investments in unaffiliated underlying funds | $ | 8,895,574 | $ | 11,378,267 | $ | 13,312,756 | ||||||||
Class I | ||||||||||||||
Net assets | $ | 71,020,430 | $ | 136,383,243 | $ | 137,411,230 | ||||||||
Shares authorized | 100,000,000 | 100,000,000 | 100,000,000 | |||||||||||
Par value | $ | 0.001 | $ | 0.001 | $ | 0.001 | ||||||||
Shares outstanding | 5,661,297 | 9,855,141 | 10,427,764 | |||||||||||
Net asset value and redemption price per share | $ | 12.54 | $ | 13.84 | $ | 13.18 | ||||||||
Class S | ||||||||||||||
Net assets | $ | 3,127,518 | $ | 2,825,460 | $ | 2,194,389 | ||||||||
Shares authorized | 100,000,000 | 100,000,000 | 100,000,000 | |||||||||||
Par value | $ | 0.001 | $ | 0.001 | $ | 0.001 | ||||||||
Shares outstanding | 251,467 | 205,915 | 167,581 | |||||||||||
Net asset value and redemption price per share | $ | 12.44 | $ | 13.72 | $ | 13.09 |
Voya Strategic Allocation Conservative Portfolio | Voya Strategic Allocation Growth Portfolio | Voya Strategic Allocation Moderate Portfolio | ||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
INVESTMENT INCOME: | ||||||||||||||
Dividends from affiliated underlying funds | $ | 1,814,371 | $ | 2,572,316 | $ | 2,880,867 | ||||||||
Dividends from unaffiliated underlying funds | 133,356 | 162,603 | 198,934 | |||||||||||
Total investment income | 1,947,727 | 2,734,919 | 3,079,801 | |||||||||||
EXPENSES: | ||||||||||||||
Investment management fees | 172,435 | 295,247 | 299,651 | |||||||||||
Distribution and shareholder service fees: | ||||||||||||||
Class S | 7,732 | 6,698 | 5,664 | |||||||||||
Transfer agent fees | 239 | 442 | 336 | |||||||||||
Shareholder reporting expense | 16,104 | 24,721 | 24,455 | |||||||||||
Professional fees | 24,036 | 39,999 | 35,402 | |||||||||||
Custody and accounting expense | 7,320 | 11,379 | 11,512 | |||||||||||
Directors fees | 2,274 | 4,177 | 4,137 | |||||||||||
Miscellaneous expense | 8,596 | 11,946 | 11,145 | |||||||||||
Total expenses | 238,736 | 394,609 | 392,302 | |||||||||||
Net waived and reimbursed fees | (59,908 | ) | (119,405 | ) | (84,328 | ) | ||||||||
Net expenses | 178,828 | 275,204 | 307,974 | |||||||||||
Net investment income | 1,768,899 | 2,459,715 | 2,771,827 | |||||||||||
REALIZED AND UNREALIZED GAIN (LOSS): | ||||||||||||||
Net realized gain (loss) on: | ||||||||||||||
Investments | 2,678 | 5,536 | 5,232 | |||||||||||
Sale of affiliated underlying funds | 2,015,981 | 1,882,677 | 2,506,629 | |||||||||||
Sale of unaffiliated underlying funds | (135,333 | ) | (124,853 | ) | (102,447 | ) | ||||||||
Capital gain distributions from affiliated underlying funds | 1,595,774 | 6,138,725 | 4,439,214 | |||||||||||
Foreign currency related transactions | 12 | 68 | 45 | |||||||||||
Futures | (240,675 | ) | (431,921 | ) | (429,526 | ) | ||||||||
Net realized gain | 3,238,437 | 7,470,232 | 6,419,147 | |||||||||||
Net change in unrealized appreciation (depreciation) on: | ||||||||||||||
Affiliated underlying funds | (1,353,443 | ) | (1,225,404 | ) | (1,146,670 | ) | ||||||||
Unaffiliated underlying funds | 484,325 | 594,228 | 792,491 | |||||||||||
Net change in unrealized appreciation (depreciation) | (869,118 | ) | (631,176 | ) | (354,179 | ) | ||||||||
Net realized and unrealized gain | 2,369,319 | 6,839,056 | 6,064,968 | |||||||||||
Increase in net assets resulting from operations | $ | 4,138,218 | $ | 9,298,771 | $ | 8,836,795 |
Voya Strategic Allocation Conservative Portfolio | Voya Strategic Allocation Growth Portfolio | ||||||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Year Ended December 31, 2016 | Year Ended December 31, 2015 | Year Ended December 31, 2016 | Year Ended December 31, 2015 | ||||||||||||||||
FROM OPERATIONS: | |||||||||||||||||||
Net investment income | $ | 1,768,899 | $ | 2,039,631 | $ | 2,459,715 | $ | 2,849,131 | |||||||||||
Net realized gain | 3,238,437 | 2,379,022 | 7,470,232 | 8,335,879 | |||||||||||||||
Net change in unrealized appreciation (depreciation) | (869,118 | ) | (4,481,475 | ) | (631,176 | ) | (12,724,963 | ) | |||||||||||
Increase (decrease) in net assets resulting from operations | 4,138,218 | (62,822 | ) | 9,298,771 | (1,539,953 | ) | |||||||||||||
FROM DISTRIBUTIONS TO SHAREHOLDERS: | |||||||||||||||||||
Net investment income: | |||||||||||||||||||
Class I | (2,157,398 | ) | (2,635,046 | ) | (3,678,823 | ) | (3,887,081 | ) | |||||||||||
Class S | (84,288 | ) | (83,164 | ) | (65,458 | ) | (65,236 | ) | |||||||||||
Total distributions | (2,241,686 | ) | (2,718,210 | ) | (3,744,281 | ) | (3,952,317 | ) | |||||||||||
FROM CAPITAL SHARE TRANSACTIONS: | |||||||||||||||||||
Net proceeds from sale of shares | 6,340,926 | 7,612,523 | 5,076,243 | 6,803,247 | |||||||||||||||
Reinvestment of distributions | 2,241,686 | 2,718,210 | 3,744,281 | 3,952,317 | |||||||||||||||
8,582,612 | 10,330,733 | 8,820,524 | 10,755,564 | ||||||||||||||||
Cost of shares redeemed | (14,156,815 | ) | (18,536,671 | ) | (18,171,061 | ) | (17,211,894 | ) | |||||||||||
Net decrease in net assets resulting from capital share transactions | (5,574,203 | ) | (8,205,938 | ) | (9,350,537 | ) | (6,456,330 | ) | |||||||||||
Net decrease in net assets | (3,677,671 | ) | (10,986,970 | ) | (3,796,047 | ) | (11,948,600 | ) | |||||||||||
NET ASSETS: | |||||||||||||||||||
Beginning of year or period | 77,825,619 | 88,812,589 | 143,004,750 | 154,953,350 | |||||||||||||||
End of year or period | $ | 74,147,948 | $ | 77,825,619 | $ | 139,208,703 | $ | 143,004,750 | |||||||||||
Undistributed net investment income at end of year or period | $ | 1,777,761 | $ | 2,228,102 | $ | 2,475,616 | $ | 3,721,437 |
Voya Strategic Allocation Moderate Portfolio | |||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|
Year Ended December 31, 2016 | Year Ended December 31, 2015 | ||||||||||
FROM OPERATIONS: | |||||||||||
Net investment income | $ | 2,771,827 | $ | 2,993,339 | |||||||
Net realized gain | 6,419,147 | 6,631,158 | |||||||||
Net change in unrealized appreciation (depreciation) | (354,179 | ) | (10,224,858 | ) | |||||||
Increase (decrease) in net assets resulting from operations | 8,836,795 | (600,361 | ) | ||||||||
FROM DISTRIBUTIONS TO SHAREHOLDERS: | |||||||||||
Net investment income: | |||||||||||
Class I | (3,596,532 | ) | (4,289,841 | ) | |||||||
Class S | (54,580 | ) | (62,312 | ) | |||||||
Total distributions | (3,651,112 | ) | (4,352,153 | ) | |||||||
FROM CAPITAL SHARE TRANSACTIONS: | |||||||||||
Net proceeds from sale of shares | 6,907,369 | 6,118,211 | |||||||||
Reinvestment of distributions | 3,651,112 | 4,352,153 | |||||||||
10,558,481 | 10,470,364 | ||||||||||
Cost of shares redeemed | (15,865,084 | ) | (20,140,607 | ) | |||||||
Net decrease in net assets resulting from capital share transactions | (5,306,603 | ) | (9,670,243 | ) | |||||||
Net decrease in net assets | (120,920 | ) | (14,622,757 | ) | |||||||
NET ASSETS: | |||||||||||
Beginning of year or period | 139,726,539 | 154,349,296 | |||||||||
End of year or period | $ | 139,605,619 | $ | 139,726,539 | |||||||
Undistributed net investment income at end of year or period | $ | 2,785,950 | $ | 3,628,489 |
Income (loss) from investment operations | | Less distributions | | Ratios to average net assets | Supplemental data | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Year or period | Net asset value, beginning of year or period | | Net investment income (loss) | | Net realized and unrealized gain (loss) | | Total from investment operations | | From net investment income | | From net realized gains | | From return of capital | | Total distributions | | Payment by affiliate | | Net asset value, end of year or period | | Total Return(1) | | Expenses before reductions/ additions(2)(3)(4) | | Expenses net of fee waivers and/or recoupments if any(2)(3)(4) | | Expenses net of all reductions/ additions(2)(3)(4) | | Net investment income (loss)(2)(3) | | Net assets, end of year or period | | Portfolio turnover rate | ||||||||||||||||||||||||||||||||||||||
ended | | ($) | | ($) | | ($) | | ($) | | ($) | | ($) | | ($) | | ($) | | ($) | | ($) | | (%) | | (%) | | (%) | | (%) | | (%) | | ($000’s) | | (%) | |||||||||||||||||||||||||||||||||||||
Voya Strategic Allocation Conservative Portfolio | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Class I | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
12-31-16 | 12.23 | 0.29 | • | 0.39 | 0.68 | 0.37 | — | — | 0.37 | — | 12.54 | 5.69 | 0.30 | 0.22 | 0.22 | 2.34 | 71,020 | 76 | |||||||||||||||||||||||||||||||||||||||||||||||||||||
12-31-15 | 12.64 | 0.30 | • | (0.31 | ) | (0.01 | ) | 0.40 | — | — | 0.40 | — | 12.23 | (0.20 | ) | 0.29 | 0.19 | 0.19 | 2.38 | 74,645 | 29 | ||||||||||||||||||||||||||||||||||||||||||||||||||
12-31-14 | 12.17 | 0.30 | • | 0.49 | 0.79 | 0.32 | — | — | 0.32 | — | 12.64 | 6.62 | 0.23 | 0.16 | 0.16 | 2.39 | 85,812 | 29 | |||||||||||||||||||||||||||||||||||||||||||||||||||||
12-31-13 | 11.14 | 0.31 | 1.02 | 1.33 | 0.30 | — | — | 0.30 | — | 12.17 | 12.11 | 0.22 | 0.11 | 0.11 | 2.64 | 87,378 | 55 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
12-31-12 | 10.19 | 0.28 | • | 0.96 | 1.24 | 0.29 | — | — | 0.29 | — | 11.14 | 12.31 | 0.22 | 0.09 | 0.09 | 2.64 | 81,360 | 107 | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Class S | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
12-31-16 | 12.13 | 0.25 | • | 0.40 | 0.65 | 0.34 | — | — | 0.34 | — | 12.44 | 5.47 | 0.55 | 0.47 | 0.47 | 2.09 | 3,128 | 76 | |||||||||||||||||||||||||||||||||||||||||||||||||||||
12-31-15 | 12.53 | 0.26 | (0.30 | ) | (0.04 | ) | 0.36 | — | — | 0.36 | — | 12.13 | (0.40 | ) | 0.54 | 0.44 | 0.44 | 2.14 | 3,180 | 29 | |||||||||||||||||||||||||||||||||||||||||||||||||||
12-31-14 | 12.07 | 0.26 | • | 0.50 | 0.76 | 0.30 | — | — | 0.30 | — | 12.53 | 6.37 | 0.48 | 0.41 | 0.41 | 2.14 | 3,001 | 29 | |||||||||||||||||||||||||||||||||||||||||||||||||||||
12-31-13 | 11.06 | 0.29 | • | 0.99 | 1.28 | 0.27 | — | — | 0.27 | — | 12.07 | 11.76 | 0.47 | 0.36 | 0.36 | 2.53 | 3,086 | 55 | |||||||||||||||||||||||||||||||||||||||||||||||||||||
12-31-12 | 10.12 | 0.24 | 0.96 | 1.20 | 0.26 | — | — | 0.26 | — | 11.06 | 12.02 | 0.47 | 0.34 | 0.34 | 2.51 | 1,664 | 107 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
Voya Strategic Allocation Growth Portfolio | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Class I | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
12-31-16 | 13.30 | 0.25 | 0.65 | 0.90 | 0.36 | — | — | 0.36 | — | 13.84 | 6.93 | 0.28 | 0.19 | 0.19 | 1.77 | 136,383 | 56 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
12-31-15 | 13.80 | 0.26 | • | (0.40 | ) | (0.14 | ) | 0.36 | — | — | 0.36 | — | 13.30 | (1.19 | ) | 0.28 | 0.15 | 0.15 | 1.86 | 140,351 | 26 | ||||||||||||||||||||||||||||||||||||||||||||||||||
12-31-14 | 13.22 | 0.20 | • | 0.66 | 0.86 | 0.28 | — | — | 0.28 | — | 13.80 | 6.57 | 0.22 | 0.14 | 0.14 | 1.45 | 152,281 | 33 | |||||||||||||||||||||||||||||||||||||||||||||||||||||
12-31-13 | 10.99 | 0.21 | • | 2.22 | 2.43 | 0.20 | — | — | 0.20 | — | 13.22 | 22.40 | 0.21 | 0.11 | 0.11 | 1.74 | 159,018 | 53 | |||||||||||||||||||||||||||||||||||||||||||||||||||||
12-31-12 | 9.70 | 0.18 | • | 1.27 | 1.45 | 0.16 | — | — | 0.16 | — | 10.99 | 14.99 | 0.20 | 0.06 | 0.06 | 1.77 | 141,892 | 74 | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Class S | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
12-31-16 | 13.19 | 0.19 | 0.66 | 0.85 | 0.32 | — | — | 0.32 | — | 13.72 | 6.63 | 0.53 | 0.44 | 0.44 | 1.51 | 2,825 | 56 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
12-31-15 | 13.69 | 0.22 | (0.39 | ) | (0.17 | ) | 0.33 | — | — | 0.33 | — | 13.19 | (1.37 | ) | 0.53 | 0.40 | 0.40 | 1.61 | 2,654 | 26 | |||||||||||||||||||||||||||||||||||||||||||||||||||
12-31-14 | 13.13 | 0.16 | • | 0.65 | 0.81 | 0.25 | — | — | 0.25 | — | 13.69 | 6.22 | 0.47 | 0.39 | 0.39 | 1.22 | 2,673 | 33 | |||||||||||||||||||||||||||||||||||||||||||||||||||||
12-31-13 | 10.92 | 0.18 | • | 2.21 | 2.39 | 0.18 | — | — | 0.18 | — | 13.13 | 22.11 | 0.46 | 0.36 | 0.36 | 1.54 | 863 | 53 | |||||||||||||||||||||||||||||||||||||||||||||||||||||
12-31-12 | 9.62 | 0.16 | • | 1.25 | 1.41 | 0.11 | — | — | 0.11 | — | 10.92 | 14.71 | 0.45 | 0.31 | 0.31 | 1.51 | 648 | 74 | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Voya Strategic Allocation Moderate Portfolio | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Class I | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
12-31-16 | 12.70 | 0.27 | 0.55 | 0.82 | 0.34 | — | — | 0.34 | — | 13.18 | 6.64 | 0.28 | 0.22 | 0.22 | 2.01 | 137,411 | 65 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
12-31-15 | 13.14 | 0.26 | • | (0.32 | ) | (0.06 | ) | 0.38 | — | — | 0.38 | — | 12.70 | (0.57 | ) | 0.28 | 0.19 | 0.19 | 2.00 | 137,466 | 26 | ||||||||||||||||||||||||||||||||||||||||||||||||||
12-31-14 | 12.61 | 0.24 | • | 0.59 | 0.83 | 0.30 | — | — | 0.30 | — | 13.14 | 6.69 | 0.22 | 0.17 | 0.17 | 1.86 | 152,010 | 34 | |||||||||||||||||||||||||||||||||||||||||||||||||||||
12-31-13 | 11.05 | 0.24 | • | 1.57 | 1.81 | 0.25 | — | — | 0.25 | — | 12.61 | 16.60 | 0.21 | 0.12 | 0.12 | 2.08 | 153,367 | 54 | |||||||||||||||||||||||||||||||||||||||||||||||||||||
12-31-12 | 9.93 | 0.23 | • | 1.11 | 1.34 | 0.22 | — | — | 0.22 | — | 11.05 | 13.60 | 0.20 | 0.09 | 0.09 | 2.18 | 142,200 | 84 | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Class S | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
12-31-16 | 12.62 | 0.22 | • | 0.56 | 0.78 | 0.31 | — | — | 0.31 | — | 13.09 | 6.32 | 0.53 | 0.47 | 0.47 | 1.73 | 2,194 | 65 | |||||||||||||||||||||||||||||||||||||||||||||||||||||
12-31-15 | 13.07 | 0.23 | (0.33 | ) | (0.10 | ) | 0.35 | — | — | 0.35 | — | 12.62 | (0.88 | ) | 0.53 | 0.44 | 0.44 | 1.76 | 2,261 | 26 | |||||||||||||||||||||||||||||||||||||||||||||||||||
12-31-14 | 12.54 | 0.21 | • | 0.59 | 0.80 | 0.27 | — | — | 0.27 | — | 13.07 | 6.50 | 0.47 | 0.42 | 0.42 | 1.62 | 2,339 | 34 | |||||||||||||||||||||||||||||||||||||||||||||||||||||
12-31-13 | 11.00 | 0.22 | • | 1.55 | 1.77 | 0.23 | — | — | 0.23 | — | 12.54 | 16.24 | 0.46 | 0.37 | 0.37 | 1.84 | 1,758 | 54 | |||||||||||||||||||||||||||||||||||||||||||||||||||||
12-31-12 | 9.86 | 0.21 | • | 1.11 | 1.32 | 0.18 | — | — | 0.18 | — | 11.00 | 13.45 | 0.45 | 0.34 | 0.34 | 1.96 | 1,223 | 84 |
(1) | Total return is calculated assuming reinvestment of all dividends, capital gain distributions and return of capital distributions, if any, at net asset value and does not reflect the effect of insurance contract charges. Total return for periods less than one year is not annualized. |
(2) | Annualized for periods less than one year. |
(3) | Ratios reflect operating expenses of a Portfolio. Expenses before reductions/additions do not reflect amounts reimbursed by an Investment Adviser and/or Distributor or reductions from brokerage service arrangements or other expense offset arrangements and do not represent the amount paid by a Portfolio during periods when reimbursements or reductions occur. Expenses net of fee waivers reflect expenses after reimbursement by an Investment Adviser and/or Distributor but prior to reductions from brokerage service arrangements or other expense offset arrangements. Expenses net of all reductions/additions represent the net expenses paid by a Portfolio. Net investment income (loss) is net of all such additions or reductions. |
(4) | Ratios do not include expenses of underlying funds and do not include fees and expenses charged under the variable annuity contract or variable life insurance policy. |
• | Calculated using average number of shares outstanding throughout the year or period. |
Investments in registered investment companies that trade on an exchange are valued at the last sales price or official closing price as of the close of the regular trading session on the exchange where the security is principally traded.
securities are not necessarily an indication of the risks associated with investing in those securities. Short-term securities of sufficient credit quality are generally considered to be Level 2 securities under applicable accounting rules. The Portfolios classify each of their investments in the Underlying Funds as Level 1, without consideration as to the classification level of the specific investments held by the Underlying Funds. A table summarizing each Portfolio’s investments under these levels of classification is included following the Portfolio of Investments.
derivatives may not perform as expected resulting in losses for the combined or hedged positions.
the contract will correlate imperfectly with the prices of the Portfolios’ securities. With futures, there is minimal counterparty credit risk to the Portfolios since futures are exchange traded and the exchange’s clearinghouse, as counterparty to all exchange traded futures, guarantees the futures against default.
Purchased | Sold | |||||||||
---|---|---|---|---|---|---|---|---|---|---|
Strategic Allocation Conservative | $ | 920,697 | $ | 754,566 | ||||||
Strategic Allocation Growth | 1,401,846 | 1,375,348 | ||||||||
Strategic Allocation Moderate | 1,380,101 | 1,375,348 |
Purchases | Sales | |||||||||
---|---|---|---|---|---|---|---|---|---|---|
Strategic Allocation Conservative | $ | 57,675,246 | $ | 64,049,467 | ||||||
Strategic Allocation Growth | 77,845,571 | 88,979,812 | ||||||||
Strategic Allocation Moderate | 89,275,504 | 96,024,301 |
Subsidiary | Portfolio | Percentage | ||||||
---|---|---|---|---|---|---|---|---|
ReliaStar Life Insurance | Strategic Allocation Conservative | �� | 8.50 | % | ||||
Company | Strategic Allocation Growth | 6.64 | ||||||
Strategic Allocation Moderate | 10.93 | |||||||
Voya Retirement | Strategic Allocation Conservative | 86.02 | ||||||
Insurance and Annuity | Strategic Allocation Growth | 88.14 | ||||||
Company | Strategic Allocation Moderate | 85.07 |
Portfolio | Accrued Expense | Amount | ||||||||
---|---|---|---|---|---|---|---|---|---|---|
Strategic Allocation Conservative | Audit | $ | 15,269 | |||||||
Strategic Allocation | Audit | 26,332 | ||||||||
Moderate | Postage | 17,770 |
Portfolio(1)(2) | Class I | Class S | ||||||||
---|---|---|---|---|---|---|---|---|---|---|
Strategic Allocation Conservative | 0.71 | % | 0.96 | % | ||||||
Strategic Allocation Growth | 0.77 | % | 1.02 | % | ||||||
Strategic Allocation Moderate | 0.75 | % | 1.00 | % |
(1) | These operating expense limits take into account operating expenses incurred at the Underlying Fund level. The amount of fees and expenses of an Underlying Fund borne by each Portfolio will vary based on each Portfolio’s allocation of assets to, and the net expenses of, a particular Underlying Fund. |
(2) | As of May 1, 2016, any fees waived pursuant to the Expense Limitation Agreement shall not be eligible for recoupment. |
Portfolio(3) | Class I | Class S | ||||||||
---|---|---|---|---|---|---|---|---|---|---|
Strategic Allocation Conservative | 0.65 | % | 0.90 | % | ||||||
Strategic Allocation Growth(4) | 0.75 | % | 1.00 | % | ||||||
Strategic Allocation Moderate | 0.70 | % | 0.95 | % |
(3) | These operating expense limits took into account operating expenses incurred at the Underlying Fund level. The amount of fees and expenses of an Underlying Fund borne by each Portfolio was based on each Portfolio’s allocation of assets to, and the net expenses of, a particular Underlying Fund. |
(4) | Prior to May 1, 2016, pursuant to a side letter agreement, the Investment Adviser had further lowered the expense limits for Strategic Allocation Growth to 0.71% and 0.96% for Classes I and S, respectively. |
Year or period | Shares sold | Shares issued in merger | Reinvestment of distributions | Shares redeemed | Net increase (decrease) in shares outstanding | Shares sold | Proceeds from shares issued in merger | Reinvestment of distributions | Shares redeemed | Net increase (decrease) | |||||||||||||||||||||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
ended | # | # | # | # | # | ($) | ($) | ($) | ($) | ($) | |||||||||||||||||||||||||||||||||
Strategic Allocation Conservative | |||||||||||||||||||||||||||||||||||||||||||
Class I | |||||||||||||||||||||||||||||||||||||||||||
12/31/2016 | 510,492 | — | 179,484 | (1,132,240 | ) | (442,264 | ) | 6,291,874 | — | 2,157,398 | (13,895,170 | ) | (5,445,898 | ) | |||||||||||||||||||||||||||||
12/31/2015 | 559,902 | — | 208,469 | (1,455,705 | ) | (687,334 | ) | 7,066,767 | — | 2,635,046 | (18,189,650 | ) | (8,487,837 | ) | |||||||||||||||||||||||||||||
Class S | |||||||||||||||||||||||||||||||||||||||||||
12/31/2016 | 4,017 | — | 7,065 | (21,844 | ) | (10,762 | ) | 49,052 | — | 84,288 | (261,645 | ) | (128,305 | ) | |||||||||||||||||||||||||||||
12/31/2015 | 43,959 | — | 6,626 | (27,794 | ) | 22,791 | 545,756 | — | 83,164 | (347,021 | ) | 281,899 | |||||||||||||||||||||||||||||||
Strategic Allocation Growth | |||||||||||||||||||||||||||||||||||||||||||
Class I | |||||||||||||||||||||||||||||||||||||||||||
12/31/2016 | 375,441 | — | 284,959 | (1,358,479 | ) | (698,079 | ) | 4,920,474 | — | 3,678,823 | (18,010,507 | ) | (9,411,210 | ) | |||||||||||||||||||||||||||||
12/31/2015 | 472,092 | — | 275,289 | (1,232,345 | ) | (484,964 | ) | 6,519,971 | — | 3,887,081 | (16,948,585 | ) | (6,541,533 | ) | |||||||||||||||||||||||||||||
Class S | |||||||||||||||||||||||||||||||||||||||||||
12/31/2016 | 11,826 | — | 5,106 | (12,217 | ) | 4,715 | 155,769 | — | 65,458 | (160,554 | ) | 60,673 | |||||||||||||||||||||||||||||||
12/31/2015 | 20,385 | — | 4,653 | (19,012 | ) | 6,026 | 283,276 | — | 65,236 | (263,309 | ) | 85,203 | |||||||||||||||||||||||||||||||
Strategic Allocation Moderate | |||||||||||||||||||||||||||||||||||||||||||
Class I | |||||||||||||||||||||||||||||||||||||||||||
12/31/2016 | 537,468 | — | 289,343 | (1,225,584 | ) | (398,773 | ) | 6,826,029 | — | 3,596,532 | (15,574,191 | ) | (5,151,630 | ) | |||||||||||||||||||||||||||||
12/31/2015 | 462,709 | — | 322,787 | (1,524,738 | ) | (739,242 | ) | 6,020,587 | — | 4,289,841 | (19,985,040 | ) | (9,674,612 | ) | |||||||||||||||||||||||||||||
Class S | |||||||||||||||||||||||||||||||||||||||||||
12/31/2016 | 6,482 | — | 4,413 | (22,469 | ) | (11,574 | ) | 81,340 | — | 54,580 | (290,893 | ) | (154,973 | ) | |||||||||||||||||||||||||||||
12/31/2015 | 7,464 | — | 4,710 | (12,061 | ) | 113 | 97,624 | — | 62,312 | (155,567 | ) | 4,369 |
Undistributed Net Investment Income | Accumulated Net Realized Gains/(Losses) | |||||||
---|---|---|---|---|---|---|---|---|
Strategic Allocation Conservative | $ | 22,446 | $ | (22,446 | ) | |||
Strategic Allocation Growth | 38,745 | (38,745 | ) | |||||
Strategic Allocation Moderate | 36,746 | (36,746 | ) |
Year Ended December 31, 2016 | Year Ended December 31, 2015 | |||||||
---|---|---|---|---|---|---|---|---|
Ordinary Income | Ordinary Income | |||||||
Strategic Allocation Conservative | $ | 2,241,686 | $ | 2,718,210 | ||||
Strategic Allocation Growth | 3,744,281 | 3,952,317 | ||||||
Strategic Allocation Moderate | 3,651,112 | 4,352,153 |
Undistributed Ordinary Income | Unrealized Appreciation/ (Depreciation) | Short-term Capital Loss Carryforwards | Expiration | ||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Strategic Allocation Conservative | $ | 1,791,402 | $ | 3,148,404 | $ | (370,779 | ) | 2017 | |||||||||
(970,483 | ) | 2018 | |||||||||||||||
$ | (1,341,262 | ) | |||||||||||||||
Strategic Allocation Growth | 2,498,484 | 17,277,727 | (858,712 | ) | 2017 | ||||||||||||
(13,221,573 | ) | 2018 | |||||||||||||||
$ | (14,080,285 | ) | |||||||||||||||
Strategic Allocation Moderate | 2,808,445 | 12,019,309 | (4,807,021 | ) | 2017 | ||||||||||||
(6,654,643 | ) | 2018 | |||||||||||||||
$ | (11,461,664 | ) |
VOYA STRATEGIC ALLOCATION | PORTFOLIO OF INVESTMENTS |
CONSERVATIVE PORTFOLIO | AS OF DECEMBER 31, 2016 |
Shares | | | | Value | | Percentage of Net Assets | |||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
EXCHANGE-TRADED FUNDS: 10.2% | |||||||||||||||||||
13,611 | iShares Russell 1000 Value Index Fund | $ | 1,524,840 | 2.1 | |||||||||||||||
54,343 | Schwab U.S. TIPs ETF | 2,980,170 | 4.0 | ||||||||||||||||
13,628 | SPDR Trust Series 1 | 3,046,267 | 4.1 | ||||||||||||||||
Total Exchange-Traded Funds (Cost $7,287,474) | 7,551,277 | 10.2 | |||||||||||||||||
MUTUAL FUNDS: 89.7% | |||||||||||||||||||
Affiliated Investment Companies: 87.6% | |||||||||||||||||||
153,849 | Voya Emerging Markets Index Portfolio — Class I | 1,470,799 | 2.0 | ||||||||||||||||
448,141 | Voya Floating Rate Fund — Class I | 4,463,488 | 6.0 | ||||||||||||||||
380,649 | Voya Global Bond Fund — Class R6 | 3,658,036 | 4.9 | ||||||||||||||||
559,032 | Voya High Yield Bond Fund — Class R6 | 4,494,621 | 6.1 | ||||||||||||||||
1,331,616 | Voya Intermediate Bond Fund — Class R6 | 13,262,892 | 17.9 | ||||||||||||||||
595,137 | Voya International Index Portfolio — Class I | 5,243,153 | 7.1 | ||||||||||||||||
168,814 | Voya Large Cap Growth Portfolio — Class I | 2,927,236 | 4.0 | ||||||||||||||||
372,987 | Voya Large Cap Value Portfolio — Class I | 4,475,843 | 6.0 | ||||||||||||||||
88,753 | @ | Voya MidCap Opportunities Portfolio — Class I | 1,095,214 | 1.5 | |||||||||||||||
100,853 | Voya Multi-Manager Mid Cap Value Fund — Class I | 1,119,466 | 1.5 | ||||||||||||||||
221,117 | Voya RussellTM Mid Cap Index Portfolio — Class I | 3,325,594 | 4.5 | ||||||||||||||||
673,512 | �� | Voya Short Term Bond Fund — Class R6 | 6,620,618 | 8.9 | |||||||||||||||
MUTUAL FUNDS: (continued) | |||||||||||||||||||
Affiliated Investment Companies: (continued) | |||||||||||||||||||
67,534 | Voya Small Company Portfolio — Class I | $ | 1,493,849 | 2.0 | |||||||||||||||
480,407 | Voya U.S. Bond Index Portfolio — Class I | 5,058,685 | 6.8 | ||||||||||||||||
344,142 | Voya U.S. Stock Index Portfolio — Class I | 4,745,714 | 6.4 | ||||||||||||||||
64,071 | VY® Clarion Global Real Estate Portfolio — Class I | 750,908 | 1.0 | ||||||||||||||||
20,624 | VY® Clarion Real Estate Portfolio — Class I | 756,506 | 1.0 | ||||||||||||||||
64,962,622 | 87.6 | ||||||||||||||||||
Unaffiliated Investment Companies: 2.1% | |||||||||||||||||||
301,106 | @ | Credit Suisse Commodity Return Strategy Fund — Class I | 1,526,608 | 2.1 | |||||||||||||||
Total Mutual Funds (Cost $61,976,301) | 66,489,230 | 89.7 | |||||||||||||||||
Total Investments in Securities (Cost $69,263,775) | $ | 74,040,507 | 99.9 | ||||||||||||||||
Assets in Excess of Other Liabilities | 107,441 | 0.1 | |||||||||||||||||
Net Assets | $ | 74,147,948 | 100.0 |
@ | Non-income producing security. |
Cost for federal income tax purposes is $70,892,103. |
Net unrealized appreciation consists of: | ||||||
Gross Unrealized Appreciation | $ | 5,233,070 | ||||
Gross Unrealized Depreciation | (2,084,666 | ) | ||||
Net Unrealized Appreciation | $ | 3,148,404 |
Quoted Prices in Active Markets for Identical Investments (Level 1) | Significant Other Observable Inputs (Level 2) | Significant Unobservable Inputs (Level 3) | Fair Value at December 31, 2016 | |||||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Asset Table | ||||||||||||||||||||
Investments, at fair value | ||||||||||||||||||||
Exchange-Traded Funds | $ | 7,551,277 | $ | — | $ | — | $ | 7,551,277 | ||||||||||||
Mutual Funds | 66,489,230 | — | — | 66,489,230 | ||||||||||||||||
Total Investments, at fair value | $ | 74,040,507 | $ | — | $ | — | $ | 74,040,507 |
ˆ | See Note 2, “Significant Accounting Policies” in the Notes to Financial Statements for additional information. |
VOYA STRATEGIC ALLOCATION | PORTFOLIO OF INVESTMENTS |
CONSERVATIVE PORTFOLIO | AS OF DECEMBER 31, 2016 (CONTINUED) |
Issuer | Beginning Fair Value at 12/31/15 | Purchases at Cost | Sales at Cost | Change in Unrealized Appreciation/ (Depreciation) | Ending Fair Value at 12/31/16 | Investment Income | Realized Gains/(Losses) | Net Capital Gain Distributions | ||||||||||||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Voya Emerging Markets Index Portfolio — Class I | $ | — | $ | 3,156,119 | $ | (1,711,182 | ) | $ | 25,862 | $ | 1,470,799 | $ | 32,433 | $ | (86,465 | ) | $ | — | ||||||||||||||
Voya Floating Rate Fund — Class I | 781,657 | 4,254,951 | (679,497 | ) | 106,377 | 4,463,488 | 139,576 | (21,219 | ) | — | ||||||||||||||||||||||
Voya Global Bond Fund — Class R6 | — | 4,224,969 | (419,818 | ) | (147,115 | ) | 3,658,036 | 66,303 | (8,201 | ) | — | |||||||||||||||||||||
Voya High Yield Bond Fund — Class I | 7,697,527 | 454,070 | (8,457,492 | ) | 305,895 | — | 223,820 | (56,774 | ) | — | ||||||||||||||||||||||
Voya High Yield Bond Fund — Class R6 | — | 5,638,664 | (1,319,824 | ) | 175,781 | 4,494,621 | 106,620 | 23,761 | — | |||||||||||||||||||||||
Voya Intermediate Bond Fund — Class R6 | 29,059,451 | 2,970,943 | (19,202,087 | ) | 434,585 | 13,262,892 | 596,189 | (10,439 | ) | — | ||||||||||||||||||||||
Voya International Index Portfolio — Class I | 6,139,816 | 2,840,501 | (3,343,886 | ) | (393,278 | ) | 5,243,153 | 161,421 | 205,945 | — | ||||||||||||||||||||||
Voya Large Cap Growth Portfolio — Class I | 8,208,600 | 1,125,447 | (4,711,133 | ) | (1,695,678 | ) | 2,927,236 | 19,392 | 1,268,222 | 446,919 | ||||||||||||||||||||||
Voya Large Cap Value Portfolio — Class I | 7,289,119 | 1,161,863 | (3,656,991 | ) | (318,148 | ) | 4,475,843 | 106,847 | 704,120 | 150,957 | ||||||||||||||||||||||
Voya MidCap Opportunities Portfolio — Class I | 1,168,261 | 324,436 | (352,482 | ) | (45,001 | ) | 1,095,214 | — | 5,184 | 123,389 | ||||||||||||||||||||||
Voya Multi-Manager Mid Cap Value Fund — Class I | 1,149,368 | 248,387 | (483,319 | ) | 205,030 | 1,119,466 | 13,831 | (70,439 | ) | 19,142 | ||||||||||||||||||||||
Voya RussellTM Mid Cap Index Portfolio — Class I | — | 5,745,919 | (2,473,686 | ) | 53,361 | 3,325,594 | 45,732 | (180,844 | ) | 410,494 | ||||||||||||||||||||||
Voya Short Term Bond Fund — Class R6 | 3,150,241 | 4,481,917 | (993,333 | ) | (18,207 | ) | 6,620,618 | 91,734 | (13,345 | ) | — | |||||||||||||||||||||
Voya Small Company Portfolio — Class I | — | 1,756,880 | (410,637 | ) | 147,606 | 1,493,849 | 7,011 | 7,870 | 141,895 | |||||||||||||||||||||||
Voya U.S. Bond Index Portfolio — Class I | 783,483 | 9,253,688 | (4,867,315 | ) | (111,171 | ) | 5,058,685 | 85,571 | 1,111 | 8,685 | ||||||||||||||||||||||
Voya U.S. Stock Index Portfolio — Class I | 4,503,663 | 4,253,102 | (4,337,325 | ) | 326,274 | 4,745,714 | 95,047 | (222,048 | ) | 294,292 | ||||||||||||||||||||||
VY® Clarion Global Real Estate Portfolio — Class I | 2,336,264 | 248,529 | (1,424,648 | ) | (409,237 | ) | 750,908 | 9,929 | 466,211 | — | ||||||||||||||||||||||
VY® Clarion Real Estate Portfolio — Class I | — | 896,846 | (143,961 | ) | 3,621 | 756,506 | 12,915 | 3,332 | — | |||||||||||||||||||||||
$ | 72,267,450 | $ | 53,037,231 | $ | (58,988,616 | ) | $ | (1,353,443 | ) | $ | 64,962,622 | $ | 1,814,371 | $ | 2,015,981 | $ | 1,595,774 |
Amount of Realized Gain or (Loss) on Derivatives Recognized in Income | ||||||
---|---|---|---|---|---|---|
Derivatives not accounted for as hedging instruments | Futures | |||||
Equity contracts | $ | (263,752 | ) | |||
Interest rate contracts | 23,077 | |||||
Total | $ | (240,675 | ) |
VOYA STRATEGIC ALLOCATION | PORTFOLIO OF INVESTMENTS |
GROWTH PORTFOLIO | AS OF DECEMBER 31, 2016 |
Shares | | | | Value | | Percentage of Net Assets | |||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
EXCHANGE-TRADED FUNDS: 6.8% | |||||||||||||||||||
8,499 | iShares Barclays 20+ Year Treasury Bond Fund | $ | 1,012,486 | 0.7 | |||||||||||||||
25,323 | iShares Russell 1000 Value Index Fund | 2,836,935 | 2.1 | ||||||||||||||||
25,077 | SPDR Trust Series 1 | 5,605,462 | 4.0 | ||||||||||||||||
Total Exchange-Traded Funds (Cost $9,061,178) | 9,454,883 | 6.8 | |||||||||||||||||
MUTUAL FUNDS: 93.1% | |||||||||||||||||||
Affiliated Investment Companies: 91.5% | |||||||||||||||||||
574,718 | Voya Emerging Markets Index Portfolio — Class I | 5,494,301 | 3.9 | ||||||||||||||||
418,585 | Voya Floating Rate Fund — Class I | 4,169,109 | 3.0 | ||||||||||||||||
284,531 | Voya Global Bond Fund — Class R6 | 2,734,341 | 2.0 | ||||||||||||||||
349,503 | Voya High Yield Bond Fund — Class R6 | 2,810,004 | 2.0 | ||||||||||||||||
172,187 | Voya Index Plus LargeCap Portfolio — Class I | 4,165,208 | 3.0 | ||||||||||||||||
1,002,159 | Voya Intermediate Bond Fund — Class R6 | 9,981,501 | 7.2 | ||||||||||||||||
1,914,548 | Voya International Index Portfolio — Class I | 16,867,172 | 12.1 | ||||||||||||||||
1,025,352 | Voya Large Cap Growth Portfolio — Class I | 17,779,606 | 12.8 | ||||||||||||||||
1,411,772 | Voya Large Cap Value Portfolio — Class I | 16,941,261 | 12.2 | ||||||||||||||||
387,047 | @ | Voya MidCap Opportunities Portfolio — Class I | 4,776,163 | 3.4 | |||||||||||||||
552,275 | Voya Multi-Manager International Equity Fund — Class I | 5,566,934 | 4.0 | ||||||||||||||||
439,548 | Voya Multi-Manager Mid Cap Value Fund — Class I | 4,878,985 | 3.5 | ||||||||||||||||
MUTUAL FUNDS: (continued) | |||||||||||||||||||
Affiliated Investment Companies: (continued) | |||||||||||||||||||
644,902 | Voya RussellTM Mid Cap Index Portfolio — Class I | $ | 9,699,320 | 7.0 | |||||||||||||||
190,781 | Voya Small Company Portfolio — Class I | 4,220,065 | 3.0 | ||||||||||||||||
259,318 | Voya U.S. Bond Index Portfolio — Class I | 2,730,623 | 1.9 | ||||||||||||||||
855,142 | Voya U.S. Stock Index Portfolio — Class I | 11,792,413 | 8.5 | ||||||||||||||||
119,740 | VY® Clarion Global Real Estate Portfolio — Class I | 1,403,357 | 1.0 | ||||||||||||||||
38,545 | VY® Clarion Real Estate Portfolio — Class I | 1,413,838 | 1.0 | ||||||||||||||||
127,424,201 | 91.5 | ||||||||||||||||||
Unaffiliated Investment Companies: 1.6% | |||||||||||||||||||
425,482 | @ | Credit Suisse Commodity Return Strategy Fund — Class I | 2,157,196 | 1.6 | |||||||||||||||
Total Mutual Funds (Cost $109,771,808) | 129,581,397 | 93.1 | |||||||||||||||||
Total Investments in Securities (Cost $118,832,986) | $ | 139,036,280 | 99.9 | ||||||||||||||||
Assets in Excess of Other Liabilities | 172,423 | 0.1 | |||||||||||||||||
Net Assets | $ | 139,208,703 | 100.0 |
@ | Non-income producing security. |
Cost for federal income tax purposes is $121,758,553. |
Net unrealized appreciation consists of: | ||||||
Gross Unrealized Appreciation | $ | 21,180,751 | ||||
Gross Unrealized Depreciation | (3,903,024 | ) | ||||
Net Unrealized Appreciation | $ | 17,277,727 |
Quoted Prices in Active Markets for Identical Investments (Level 1) | Significant Other Observable Inputs (Level 2) | Significant Unobservable Inputs (Level 3) | Fair Value at December 31, 2016 | |||||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Asset Table | ||||||||||||||||||||
Investments, at fair value | ||||||||||||||||||||
Exchange-Traded Funds | $ | 9,454,883 | $ | — | $ | — | $ | 9,454,883 | ||||||||||||
Mutual Funds | 129,581,397 | — | — | 129,581,397 | ||||||||||||||||
Total Investments, at fair value | $ | 139,036,280 | $ | — | $ | — | $ | 139,036,280 |
ˆ | See Note 2, “Significant Accounting Policies” in the Notes to Financial Statements for additional information. |
VOYA STRATEGIC ALLOCATION | PORTFOLIO OF INVESTMENTS |
GROWTH PORTFOLIO | AS OF DECEMBER 31, 2016 (CONTINUED) |
Issuer | Beginning Fair Value at 12/31/15 | Purchases at Cost | Sales at Cost | Change in Unrealized Appreciation/ (Depreciation) | Ending Fair Value at 12/31/16 | Investment Income | Realized Gains/(Losses) | Net Capital Gain Distributions | ||||||||||||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Voya Emerging Markets Index Portfolio — Class I | $ | 4,127,552 | $ | 4,483,254 | $ | (3,763,914 | ) | $ | 647,409 | $ | 5,494,301 | $ | 121,009 | $ | (416,988 | ) | $ | — | ||||||||||||||
Voya Floating Rate Fund — Class I | 2,899,528 | 1,984,960 | (860,405 | ) | 145,026 | 4,169,109 | 156,802 | (35,783 | ) | — | ||||||||||||||||||||||
Voya Global Bond Fund — Class R6 | — | 3,117,559 | (273,774 | ) | (109,444 | ) | 2,734,341 | 49,102 | (3,716 | ) | — | |||||||||||||||||||||
Voya High Yield Bond Fund — Class I | 8,520,593 | 651,118 | (9,557,500 | ) | 385,789 | — | 220,011 | (120,462 | ) | — | ||||||||||||||||||||||
Voya High Yield Bond Fund — Class R6 | — | 4,362,303 | (1,677,238 | ) | 124,939 | 2,810,004 | 67,289 | 40,134 | — | |||||||||||||||||||||||
Voya Index Plus LargeCap Portfolio — Class I | — | 4,402,054 | (526,440 | ) | 289,594 | 4,165,208 | 72,538 | 14,685 | — | |||||||||||||||||||||||
Voya Intermediate Bond Fund — Class R6 | 4,348,223 | 8,387,662 | (2,679,382 | ) | (75,002 | ) | 9,981,501 | 228,027 | 17,812 | — | ||||||||||||||||||||||
Voya International Index Portfolio — Class I | 24,148,366 | 5,727,075 | (11,422,006 | ) | (1,586,263 | ) | 16,867,172 | 517,445 | 1,061,372 | — | ||||||||||||||||||||||
Voya Large Cap Growth Portfolio — Class I | 25,338,936 | 3,268,463 | (8,325,793 | ) | (2,502,000 | ) | 17,779,606 | 115,278 | 387,220 | 2,656,721 | ||||||||||||||||||||||
Voya Large Cap Value Portfolio — Class I | 23,467,470 | 2,022,406 | (9,163,626 | ) | 615,011 | 16,941,261 | 406,390 | 746,525 | 578,604 | |||||||||||||||||||||||
Voya MidCap Opportunities Portfolio — Class I | 5,048,205 | 907,203 | (998,299 | ) | (180,946 | ) | 4,776,163 | — | 2,242 | 531,237 | ||||||||||||||||||||||
Voya Multi-Manager International Equity Fund — Class I | — | 6,250,725 | (550,044 | ) | (133,747 | ) | 5,566,934 | 100,948 | (2,053 | ) | — | |||||||||||||||||||||
Voya Multi-Manager Mid Cap Value Fund — Class I | 4,967,043 | 563,122 | (1,410,465 | ) | 759,285 | 4,878,985 | 59,955 | (200,803 | ) | 82,975 | ||||||||||||||||||||||
Voya RussellTM Mid Cap Index Portfolio — Class I | 8,537,074 | 6,254,399 | (5,112,999 | ) | 20,846 | 9,699,320 | 132,714 | (137,218 | ) | 1,191,245 | ||||||||||||||||||||||
Voya Small Company Portfolio — Class I | 5,754,601 | 695,621 | (2,315,754 | ) | 85,597 | 4,220,065 | 19,487 | 485,183 | 394,369 | |||||||||||||||||||||||
Voya U.S. Bond Index Portfolio — Class I | 1,451,454 | 7,980,418 | (6,650,894 | ) | (50,355 | ) | 2,730,623 | 28,137 | 26,141 | 2,034 | ||||||||||||||||||||||
Voya U.S. Stock Index Portfolio — Class I | 12,776,240 | 5,818,920 | (7,537,769 | ) | 735,022 | 11,792,413 | 235,046 | (445,193 | ) | 701,540 | ||||||||||||||||||||||
VY® Clarion Global Real Estate Portfolio — Class I | 2,872,779 | 235,409 | (1,301,850 | ) | (402,981 | ) | 1,403,357 | 18,313 | 453,852 | — | ||||||||||||||||||||||
VY® Clarion Real Estate Portfolio — Class I | — | 1,630,709 | (223,687 | ) | 6,816 | 1,413,838 | 23,825 | 9,727 | �� | — | ||||||||||||||||||||||
$ | 134,258,064 | $ | 68,743,380 | $ | (74,351,839 | ) | $ | (1,225,404 | ) | $ | 127,424,201 | $ | 2,572,316 | $ | 1,882,677 | $ | 6,138,725 |
VOYA STRATEGIC ALLOCATION | PORTFOLIO OF INVESTMENTS |
GROWTH PORTFOLIO | AS OF DECEMBER 31, 2016 (CONTINUED) |
Amount of Realized Gain or (Loss) on Derivatives Recognized in Income | ||||||
---|---|---|---|---|---|---|
Derivatives not accounted for as hedging instruments | Futures | |||||
Equity contracts | $ | (472,656 | ) | |||
Interest rate contracts | 40,735 | |||||
Total | $ | (431,921 | ) |
VOYA STRATEGIC ALLOCATION | PORTFOLIO OF INVESTMENTS |
MODERATE PORTFOLIO | AS OF DECEMBER 31, 2016 |
Shares | | | | Value | | Percentage of Net Assets | |||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
EXCHANGE-TRADED FUNDS: 8.3% | |||||||||||||||||||
8,507 | iShares Barclays 20+ Year Treasury Bond Fund | $ | 1,013,439 | 0.7 | |||||||||||||||
44,362 | iShares Russell 1000 Value Index Fund | 4,969,875 | 3.6 | ||||||||||||||||
25,103 | SPDR Trust Series 1 | 5,611,273 | 4.0 | ||||||||||||||||
Total Exchange-Traded Funds (Cost $10,983,706) | 11,594,587 | 8.3 | |||||||||||||||||
MUTUAL FUNDS: 91.6% | |||||||||||||||||||
Affiliated Investment Companies: 90.0% | |||||||||||||||||||
288,671 | Voya Emerging Markets Index Portfolio — Class I | 2,759,692 | 2.0 | ||||||||||||||||
700,441 | Voya Floating Rate Fund — Class I | 6,976,395 | 5.0 | ||||||||||||||||
285,681 | Voya Global Bond Fund — Class R6 | 2,745,392 | 2.0 | ||||||||||||||||
701,793 | Voya High Yield Bond Fund — Class R6 | 5,642,414 | 4.0 | ||||||||||||||||
172,873 | Voya Index Plus LargeCap Portfolio — Class I | 4,181,807 | 3.0 | ||||||||||||||||
1,943,008 | Voya Intermediate Bond Fund — Class R6 | 19,352,362 | 13.9 | ||||||||||||||||
961,078 | Voya International Index Portfolio — Class I | 8,467,094 | 6.1 | ||||||||||||||||
831,475 | Voya Large Cap Growth Portfolio — Class I | 14,417,775 | 10.3 | ||||||||||||||||
1,180,320 | Voya Large Cap Value Portfolio — Class I | 14,163,840 | 10.2 | ||||||||||||||||
333,090 | @ | Voya MidCap Opportunities Portfolio — Class I | 4,110,333 | 2.9 | |||||||||||||||
415,863 | Voya Multi-Manager International Equity Fund — Class I | 4,191,897 | 3.0 | ||||||||||||||||
378,277 | Voya Multi-Manager Mid Cap Value Fund — Class I | 4,198,878 | 3.0 | ||||||||||||||||
277,500 | Voya RussellTM Mid Cap Index Portfolio — Class I | 4,173,594 | 3.0 | ||||||||||||||||
MUTUAL FUNDS: (continued) | |||||||||||||||||||
Affiliated Investment Companies: (continued) | |||||||||||||||||||
456,254 | Voya Short Term Bond Fund — Class R6 | $ | 4,484,981 | 3.2 | |||||||||||||||
127,694 | Voya Small Company Portfolio — Class I | 2,824,582 | 2.0 | ||||||||||||||||
652,637 | Voya U.S. Bond Index Portfolio — Class I | 6,872,267 | 4.9 | ||||||||||||||||
961,825 | Voya U.S. Stock Index Portfolio — Class I | 13,263,569 | 9.5 | ||||||||||||||||
120,214 | VY® Clarion Global Real Estate Portfolio — Class I | 1,408,909 | 1.0 | ||||||||||||||||
38,696 | VY® Clarion Real Estate Portfolio — Class I | 1,419,381 | 1.0 | ||||||||||||||||
125,655,162 | 90.0 | ||||||||||||||||||
Unaffiliated Investment Companies: 1.6% | |||||||||||||||||||
425,965 | @ | Credit Suisse Commodity Return Strategy Fund — Class I | 2,159,640 | 1.6 | |||||||||||||||
Total Mutual Funds (Cost $113,447,969) | 127,814,802 | 91.6 | |||||||||||||||||
Total Investments in Securities (Cost $124,431,675) | $ | 139,409,389 | 99.9 | ||||||||||||||||
Assets in Excess of Other Liabilities | 196,230 | 0.1 | |||||||||||||||||
Net Assets | $ | 139,605,619 | 100.0 |
@ | Non-income producing security. |
Cost for federal income tax purposes is $127,390,080. |
Net unrealized appreciation consists of: | ||||||
Gross Unrealized Appreciation | $ | 15,880,429 | ||||
Gross Unrealized Depreciation | (3,861,120 | ) | ||||
Net Unrealized Appreciation | $ | 12,019,309 |
Quoted Prices in Active Markets for Identical Investments (Level 1) | Significant Other Observable Inputs (Level 2) | Significant Unobservable Inputs (Level 3) | Fair Value at December 31, 2016 | |||||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Asset Table | ||||||||||||||||||||
Investments, at fair value | ||||||||||||||||||||
Exchange-Traded Funds | $ | 11,594,587 | $ | — | $ | — | $ | 11,594,587 | ||||||||||||
Mutual Funds | 127,814,802 | — | — | 127,814,802 | ||||||||||||||||
Total Investments, at fair value | $ | 139,409,389 | $ | — | $ | — | $ | 139,409,389 |
ˆ | See Note 2, “Significant Accounting Policies” in the Notes to Financial Statements for additional information. |
VOYA STRATEGIC ALLOCATION | PORTFOLIO OF INVESTMENTS |
MODERATE PORTFOLIO | AS OF DECEMBER 31, 2016 (CONTINUED) |
Issuer | Beginning Fair Value at 12/31/15 | Purchases at Cost | Sales at Cost | Change in Unrealized Appreciation/ (Depreciation) | Ending Fair Value at 12/31/16 | Investment Income | Realized Gains/(Losses) | Net Capital Gain Distributions | ||||||||||||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Voya Emerging Markets Index Portfolio — Class I | $ | 2,679,131 | $ | 3,103,777 | $ | (3,496,743 | ) | $ | 473,527 | $ | 2,759,692 | $ | 58,620 | $ | (393,044 | ) | $ | — | ||||||||||||||
Voya Floating Rate Fund — Class I | 2,820,891 | 4,886,767 | (920,125 | ) | 188,862 | 6,976,395 | 234,094 | (35,041 | ) | — | ||||||||||||||||||||||
Voya Global Bond Fund — Class R6 | — | 3,042,128 | (186,368 | ) | (110,368 | ) | 2,745,392 | 48,574 | (2,871 | ) | — | |||||||||||||||||||||
Voya High Yield Bond Fund — Class I | 8,294,905 | 598,163 | (9,259,361 | ) | 366,293 | — | 258,991 | (75,996 | ) | — | ||||||||||||||||||||||
Voya High Yield Bond Fund — Class R6 | — | 7,327,648 | (1,886,385 | ) | 201,151 | 5,642,414 | 131,545 | 38,905 | — | |||||||||||||||||||||||
Voya Index Plus LargeCap Portfolio — Class I | — | 4,345,850 | (454,803 | ) | 290,760 | 4,181,807 | 70,304 | 14,806 | — | |||||||||||||||||||||||
Voya Intermediate Bond Fund — Class R6 | 32,599,122 | 5,088,639 | (18,763,939 | ) | 428,540 | 19,352,362 | 735,039 | (25,093 | ) | — | ||||||||||||||||||||||
Voya International Index Portfolio — Class I | 15,201,827 | 4,677,845 | (9,776,588 | ) | (1,635,990 | ) | 8,467,094 | 251,664 | 1,307,830 | — | ||||||||||||||||||||||
Voya Large Cap Growth Portfolio — Class I | 20,417,576 | 3,122,003 | (7,107,057 | ) | (2,014,747 | ) | 14,417,775 | 87,086 | 425,564 | 2,007,006 | ||||||||||||||||||||||
Voya Large Cap Value Portfolio — Class I | 18,672,362 | 2,250,311 | (7,286,549 | ) | 527,716 | 14,163,840 | 334,208 | 599,953 | 447,923 | |||||||||||||||||||||||
Voya MidCap Opportunities Portfolio — Class I | 4,208,262 | 931,847 | (874,330 | ) | (155,446 | ) | 4,110,333 | — | 6,803 | 453,867 | ||||||||||||||||||||||
Voya Multi-Manager International Equity Fund — Class I | — | 4,633,868 | (342,058 | ) | (99,913 | ) | 4,191,897 | 75,667 | (1,179 | ) | — | |||||||||||||||||||||
Voya Multi-Manager Mid Cap Value Fund — Class I | 4,140,437 | 652,270 | (1,257,360 | ) | 663,531 | 4,198,878 | 51,363 | (179,379 | ) | 71,084 | ||||||||||||||||||||||
Voya RussellTM Mid Cap Index Portfolio — Class I | — | 7,794,431 | (3,738,406 | ) | 117,569 | 4,173,594 | 55,336 | (270,041 | ) | 496,693 | ||||||||||||||||||||||
Voya Short Term Bond Fund — Class R6 | — | 7,394,292 | (2,882,622 | ) | (26,689 | ) | 4,484,981 | 74,596 | 914 | — | ||||||||||||||||||||||
Voya Small Company Portfolio — Class I | 5,596,284 | 694,773 | (2,962,375 | ) | (504,100 | ) | 2,824,582 | 12,524 | 947,915 | 253,453 | ||||||||||||||||||||||
Voya U.S. Bond Index Portfolio — Class I | 1,412,182 | 12,483,108 | (6,877,110 | ) | (145,913 | ) | 6,872,267 | 102,271 | 15,789 | 9,850 | ||||||||||||||||||||||
Voya U.S. Stock Index Portfolio — Class I | 12,429,262 | 6,198,000 | (6,044,520 | ) | 680,827 | 13,263,569 | 257,022 | (327,604 | ) | 699,338 | ||||||||||||||||||||||
VY® Clarion Global Real Estate Portfolio — Class I | 2,796,685 | 283,396 | (1,272,252 | ) | (398,920 | ) | 1,408,909 | 18,238 | 450,585 | — | ||||||||||||||||||||||
VY® Clarion Real Estate Portfolio — Class I | — | 1,605,329 | (192,588 | ) | 6,640 | 1,419,381 | 23,725 | 7,813 | — | |||||||||||||||||||||||
$ | 131,268,926 | $ | 81,114,445 | $ | (85,581,539 | ) | $ | (1,146,670 | ) | $ | 125,655,162 | $ | 2,880,867 | $ | 2,506,629 | $ | 4,439,214 |
VOYA STRATEGIC ALLOCATION | PORTFOLIO OF INVESTMENTS |
MODERATE PORTFOLIO | AS OF DECEMBER 31, 2016 (CONTINUED) |
Amount of Realized Gain or (Loss) on Derivatives Recognized in Income | ||||||
---|---|---|---|---|---|---|
Derivatives not accounted for as hedging instruments | Futures | |||||
Equity contracts | $ | (470,779 | ) | |||
Interest rate contracts | 41,253 | |||||
Total | $ | (429,526 | ) |
Portfolio Name | Type | Per Share Amount | ||||||||
---|---|---|---|---|---|---|---|---|---|---|
Voya Strategic Allocation Conservative Portfolio | ||||||||||
Class I | NII | $ | 0.3699 | |||||||
Class S | NII | $ | 0.3393 | |||||||
Voya Strategic Allocation Growth Portfolio | ||||||||||
Class I | NII | $ | 0.3557 | |||||||
Class S | NII | $ | 0.3220 | |||||||
Voya Strategic Allocation Moderate Portfolio | ||||||||||
Class I | NII | $ | 0.3424 | |||||||
Class S | NII | $ | 0.3092 |
Voya Strategic Allocation Conservative Portfolio | 19.36 | % | |
Voya Strategic Allocation Growth Portfolio | 38.64 | % | |
Voya Strategic Allocation Moderate Portfolio | 31.04 | % |
Creditable Foreign Taxes Paid | Per Share Amount | Portion of Ordinary Income Distribution Derived from Foreign Sourced Income* | ||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|
Voya Strategic Allocation Conservative Portfolio | $ | 11,182 | $ | 0.0019 | 8.25 | % | ||||||
Voya Strategic Allocation Growth Portfolio | $ | 47,509 | $ | 0.0047 | 22.41 | % | ||||||
Voya Strategic Allocation Moderate Portfolio | $ | 26,132 | $ | 0.0025 | 10.69 | % |
* | None of the Portfolios listed above derived any income from ineligible foreign sources as defined under Section 901(j) of the Internal Revenue Code. |
Name, Address and Age | Position(s) Held with the Company | Term of Office and Length of Time Served(1) | Principal Occupation(s) — During the Past 5 Years | Number of funds in Fund Complex Overseen by Director(2) | Other Board Positions Held by Director | |||||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Independent Directors: | ||||||||||||||||||||||
Colleen D. Baldwin 7337 East Doubletree Ranch Rd. Suite 100 Scottsdale, Arizona 85258 Age: 56 | Director | May 2013–Present | President, Glantuam Partners, LLC, a business consulting firm (January 2009–Present). | 151 | DSM/Dentaquest, Boston, MA (February 2014–Present). | |||||||||||||||||
John V. Boyer 7337 East Doubletree Ranch Rd. Suite 100 Scottsdale, Arizona 85258 Age: 63 | Chairperson Director | January 2014–Present May 2013–Present | President and Chief Executive Officer, Bechtler Arts Foundation, an arts and education foundation (January 2008–Present). | 151 | None. | |||||||||||||||||
Patricia W. Chadwick 7337 East Doubletree Ranch Rd. Suite 100 Scottsdale, Arizona 85258 Age: 68 | Director | May 2013–Present | Consultant and President, Ravengate Partners LLC, a consulting firm that provides advice regarding financial markets and the global economy (January 2000–Present). | 151 | Wisconsin Energy Corporation (June 2006–Present); The Royce Funds (23 funds) (December 2009–Present); and AMICA Mutual Insurance Company (1992–Present). | |||||||||||||||||
Peter S. Drotch 7337 East Doubletree Ranch Rd. Suite 100 Scottsdale, Arizona 85258 Age: 75 | Director | May 2013–Present | Retired. | 151 | None. | |||||||||||||||||
Martin J. Gavin 7337 East Doubletree Ranch Rd. Suite 100 Scottsdale, AZ 85258-2034 Age: 66 | Director | August 2015–Present | Retired. Formerly, President and Chief Executive Officer, Connecticut Children’s Medical Center (May 2006– November 2015). | 151 | None. | |||||||||||||||||
Russell H. Jones 7337 East Doubletree Ranch Rd. Suite 100 Scottsdale, Arizona 85258 Age: 72 | Director | December 2007–Present | Retired. | 151 | None. | |||||||||||||||||
Patrick W. Kenny 7337 East Doubletree Ranch Rd. Suite 100 Scottsdale, Arizona 85258 Age: 74 | Director | May 2013–Present | Retired. | 151 | Assured Guaranty Ltd. (April 2004–Present). | |||||||||||||||||
Joseph E. Obermeyer 7337 East Doubletree Ranch Rd. Suite 100 Scottsdale, Arizona 85258 Age: 59 | Director | January 2003–Present | President, Obermeyer & Associates, Inc., a provider of financial and economic consulting services (November 1999–Present). | 151 | None. | |||||||||||||||||
Sheryl K. Pressler 7337 East Doubletree Ranch Rd. Suite 100 Scottsdale, Arizona 85258 Age: 66 | Director | May 2013–Present | Consultant (May 2001–Present). | 151 | None. | |||||||||||||||||
Christopher P. Sullivan 7337 East Doubletree Ranch Rd. Suite 100 Scottsdale, Arizona 85258 Age: 63 | Director | October 2015–Present | Retired. Formerly, President, Bond Division, Fidelity Management and Research (June 2009– September 2012). | 151 | None. |
Name, Address and Age | Position(s) Held with the Company | Term of Office and Length of Time Served(1) | Principal Occupation(s) — During the Past 5 Years | Number of funds in Fund Complex Overseen by Director(2) | Other Board Positions Held by Director | |||||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Roger B. Vincent 7337 East Doubletree Ranch Rd. Suite 100 Scottsdale, Arizona 85258 Age: 71 | Director | May 2013–Present | Retired. | 151 | UGI Corporation (February 2006–Present) and UGI Utilities, Inc. (February 2006–Present). | |||||||||||||||||
Director who is an “interested person”: | ||||||||||||||||||||||
Shaun P. Mathews (3) 7337 East Doubletree Ranch Rd. Suite 100 Scottsdale, Arizona 85258 Age: 61 | Director | December 2007–Present | President and Chief Executive Officer, Voya Investments, LLC (December 2006–Present). | 151 | Voya Capital Corporation, LLC and Voya Investments Distributor, LLC (December 2005–Present); Voya Funds Services, LLC, Voya Investments, LLC and Voya Investment Management (March 2006–Present); and Voya Investment Trust Co. (April 2009–Present). |
(1) | Directors serve until their successors are duly elected and qualified. The tenure of each Director who is not an “interested person” as defined in the 1940 Act, of each Portfolio (“Independent Director”) is subject to the Board’s retirement policy which states that each duly elected or appointed Independent Director shall retire from and cease to be a member of the Board of Directors at the close of business on December 31 of the calendar year in which the Independent Director attains the age of 75. A majority vote of the Board’s other Independent Directors may extend the retirement date of an Independent Director if the retirement would trigger a requirement to hold a meeting of shareholders of the Company under applicable law, whether for the purposes of appointing a successor to the Independent Director or otherwise comply under applicable law, in which case the extension would apply until such time as the shareholder meeting can be held or is no longer required (as determined by a vote of a majority of the other Independent Directors). |
(2) | For the purposes of this table, “Fund Complex” means the Voya family of funds including the following investment companies: Voya Asia Pacific High Dividend Equity Income Fund; Voya Balanced Portfolio, Inc.; Voya Emerging Markets High Dividend Equity Fund; Voya Equity Trust; Voya Funds Trust; Voya Global Advantage and Premium Opportunity Fund; Voya Global Equity Dividend and Premium Opportunity Fund; Voya Government Money Market Portfolio; Voya Infrastructure, Industrials and Materials Fund; Voya Intermediate Bond Portfolio; Voya International High Dividend Equity Income Fund; Voya Investors Trust; Voya Mutual Funds; Voya Natural Resources Equity Income Fund; Voya Partners, Inc.; Voya Prime Rate Trust; Voya Senior Income Fund; Voya Separate Portfolios Trust; Voya Series Fund, Inc.; Voya Strategic Allocation Portfolios, Inc.; Voya Variable Funds; Voya Variable Insurance Trust; Voya Variable Portfolios, Inc.; and Voya Variable Products Trust. The number of funds in the Fund Complex is as of January 31, 2017. |
(3) | Mr. Mathews is deemed to be an “interested person” of the Company as defined in the 1940 Act, because of his current affiliation with the Voya funds, Voya Financial, Inc., or Voya Financial, Inc.’s affiliates. |
Name, Address and Age | Position(s) Held With the Company | Term of Office and Length of Time Served(1) | Principal Occupation(s) — During the Past 5 Years | |||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Shaun P. Mathews 7337 East Doubletree Ranch Rd. Suite 100 Scottsdale, Arizona 85258 Age: 61 | President and Chief Executive Officer | December 2006–Present | President and Chief Executive Officer, Voya Investments, LLC (December 2006–Present). | |||||||||||
Michael J. Roland 7337 East Doubletree Ranch Rd. Suite 100 Scottsdale, Arizona 85258 Age: 58 | Executive Vice President | April 2002–Present | Managing Director and Chief Operating Officer, Voya Investments, LLC and Voya Funds Services, LLC (March 2012–Present). Formerly, Chief Compliance Officer, Directed Services LLC and Voya Investments, LLC (March 2011– December 2013); Executive Vice President and Chief Operating Officer, Voya Investments, LLC and Voya Funds Services, LLC (January 2007– April 2012) and Chief Compliance Officer, Voya Family of Funds (March 2011–February 2012). | |||||||||||
Stanley D. Vyner 230 Park Avenue New York, New York 10169 Age: 66 | Executive Vice President Chief Investment Risk Officer | March 2002–Present May 2013–Present | Executive Vice President, Voya Investments, LLC (July 2000–Present) and Chief Investment Risk Officer, Voya Investments, LLC (January 2003–Present). | |||||||||||
Kevin M. Gleason 7337 East Doubletree Ranch Rd. Suite 100 Scottsdale, Arizona 85258 Age: 50 | Chief Compliance Officer | February 2012–Present | Senior Vice President, Voya Investment Management and Chief Compliance Officer, Voya Family of Funds (February 2012–Present). Formerly, Assistant General Counsel and Assistant Secretary, The Northwestern Mutual Life Insurance Company (June 2004–January 2012). | |||||||||||
Todd Modic 7337 East Doubletree Ranch Rd. Suite 100 Scottsdale, Arizona 85258 Age: 49 | Senior Vice President, Chief/Principal Financial Officer and Assistant Secretary | March 2005–Present | Senior Vice President, Voya Investments, LLC and Voya Funds Services, LLC (April 2005–Present). | |||||||||||
Kimberly A. Anderson 7337 East Doubletree Ranch Rd. Suite 100 Scottsdale, Arizona 85258 Age: 52 | Senior Vice President | December 2003–Present | Senior Vice President, Voya Investments, LLC (September 2003–Present). | |||||||||||
Robert Terris 7337 East Doubletree Ranch Rd. Suite 100 Scottsdale, Arizona 85258 Age: 46 | Senior Vice President | June 2006–Present | Senior Vice President, Head of Division Operations, Voya Investments, LLC (October 2015–Present) and Voya Funds Services, LLC (March–2006 Present). | |||||||||||
Fred Bedoya 7337 East Doubletree Ranch Rd. Suite 100 Scottsdale, Arizona 85258 Age: 44 | Vice President and Treasurer | September 2012–Present | Vice President, Voya Investments, LLC (October 2015–Present) and Voya Funds Services, LLC (July 2012–Present). Formerly, Assistant Vice President–Director, Voya Funds Services, LLC (March 2003–March 2012). | |||||||||||
Maria M. Anderson 7337 East Doubletree Ranch Rd. Suite 100 Scottsdale, Arizona 85258 Age: 58 | Vice President | September 2004–Present | Vice President, Voya Investments, LLC (October 2015–Present) and Voya Funds Services, LLC (September–2004 Present). | |||||||||||
Lauren D. Bensinger 7337 East Doubletree Ranch Rd. Suite 100 Scottsdale, Arizona 85258 Age: 63 | Vice President | March 2003–Present | Vice President, Voya Funds Services, LLC (February 1996–Present) and Voya Investments, LLC (October 2004–Present); Vice President and Money Laundering Reporting Officer, Voya Investments Distributor, LLC (April 2010– Present). Anti-Money Laundering Compliance Officer, Voya Financial, Inc. (January 2013– Present); and Money Laundering Reporting Officer, Voya Investment Management Trust Co. (October 2012–Present). | |||||||||||
Sara M. Donaldson 7337 East Doubletree Ranch Rd. Suite 100 Scottsdale, Arizona 85258 Age: 57 | Vice President | September 2014–Present | Vice President, Voya Investments, LLC (October 2015–Present). Formerly, Vice President, Voya Funds Services, LLC (April 2014–October 2015). Formerly, Director, Compliance, AXA Rosenberg Global Services, LLC (September 1997–March 2014). |
Name, Address and Age | Position(s) Held With the Company | Term of Office and Length of Time Served(1) | Principal Occupation(s) — During the Past 5 Years | |||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Micheline S. Favor 7337 East Doubletree Ranch Rd. Suite 100 Scottsdale, Arizona 85258 Age: 39 | Vice President | September 2016–Present | Vice President, Head of Fund Compliance, Voya Investments LLC, and Chief Compliance Officer for Voya Investments, LLC and Directed Services, LLC (June 2016–Present). Formerly, Vice President, Mutual Fund Compliance (March 2014–June 2016); Assistant Vice President, Mutual Fund Compliance (May 2013–March 2014); Assistant Vice President, Senior Project Manager (May 2008–May 2013). | |||||||||||
Robyn L. Ichilov 7337 East Doubletree Ranch Rd. Suite 100 Scottsdale, Arizona 85258 Age: 49 | Vice President | March 2002–Present | Vice President, Voya Funds Services, LLC (November–1995 Present) and Voya Investments, LLC (August–1997 Present). Formerly, Treasurer, Voya Family of Funds (November 1999–February 2012). | |||||||||||
Jason Kadavy 7337 East Doubletree Ranch Rd. Suite 100 Scottsdale, Arizona 85258 Age: 40 | Vice President | September 2012–Present | Vice President, Voya Investments, LLC (October 2015–Present) and Voya Funds Services, LLC (July 2007–Present). | |||||||||||
Kimberly K. Springer 7337 East Doubletree Ranch Rd. Suite 100 Scottsdale, Arizona 85258 Age: 59 | Vice President | March 2006–Present | Vice President — Mutual Fund Product Development, Voya Investments, LLC (July 2012–Present); Vice President, Voya Family of Funds (March 2010–Present) and Vice President, Voya Funds Services, LLC (March 2006–Present). Formerly Managing Paralegal, Registration Statements (June 2003–July 2012). | |||||||||||
Craig Wheeler 7337 East Doubletree Ranch Rd. Suite 100 Scottsdale, Arizona 85258 Age: 47 | Vice President | May 2013–Present | Vice President — Director of Tax, Voya Investments, LLC (October 2015–Present). Formerly, Vice President — Director of Tax, Voya Funds Services, LLC (March 2013– October 2015). Formerly, Assistant Vice President–Director of Tax, Voya Funds Services, LLC (March 2008–February 2013). | |||||||||||
Huey P. Falgout, Jr. 7337 East Doubletree Ranch Rd. Suite 100 Scottsdale, Arizona 85258 Age: 53 | Secretary | May 2013–Present | Senior Vice President and Chief Counsel, Voya Investment Management — Mutual Fund Legal Department (March 2010–Present). | |||||||||||
Paul A. Caldarelli 7337 East Doubletree Ranch Rd. Suite 100 Scottsdale, Arizona 85258 Age: 65 | Assistant Secretary | August 2010–Present | Vice President and Senior Counsel, Voya Investment Management — Mutual Fund Legal Department (March 2010–Present). | |||||||||||
Theresa K. Kelety 7337 East Doubletree Ranch Rd. Suite 100 Scottsdale, Arizona 85258 Age: 54 | Assistant Secretary | May 2013–Present | Vice President and Senior Counsel, Voya Investment Management — Mutual Fund Legal Department (March 2010–Present). |
(1) | The Officers hold office until the next annual meeting of the Board of Directors and until their successors shall have been elected and qualified. |
Portfolios to a series of questions posed by K&L Gates on behalf of the Independent Directors; (5) copies of the forms of Management and Sub-Advisory Contracts; (6) copies of the Forms ADV for the Adviser and the Sub-Adviser; (7) financial statements for the Adviser and the Sub-Adviser; (8) a draft of a narrative summary addressing key factors the Board customarily considers in evaluating the Management and Sub-Advisory Contracts for the Voya funds’ (including the Portfolio’s) investment management and sub-advisory contracts, including a written analysis for the Portfolio of how performance, fees and expenses compare to its Selected Peer Group and/or designated benchmark(s); (9) independent analyses of Portfolio performance by the Company’s Chief Investment Risk Officer, who leads the Adviser’s Investment Risk Management Department (“IRMD”); (10) information regarding net asset flows into and out of the Portfolio; and (11) other information relevant to the Board’s evaluations.
benefit of the IRCs, which may vary from the perspective of MR&S.
information on this topic and the Portfolios’ investment performance.
ratio for the Portfolio, inclusive of Acquired Fund Fees and Expenses (“AFFE”), is below the median and the average expense ratios of the funds in its Selected Peer Group, and the expense ratio for the Portfolio, not inclusive of AFFE, is above the median and the average expense ratios of the funds in its Selected Peer Group.
Voya Investments, LLC
7337 East Doubletree Ranch Road, Suite 100
Scottsdale, Arizona 85258
Voya Investments Distributor, LLC
7337 East Doubletree Ranch Road, Suite 100
Scottsdale, Arizona 85258
BNY Mellon Investment Servicing (U.S.) Inc.
301 Bellevue Parkway
Wilmington, Delaware 19809
KPMG LLP
Two Financial Center
60 South Street
Boston, Massachusetts 02111
The Bank of New York Mellon
225 Liberty Street
New York, New York 10286
Ropes & Gray LLP
Prudential Tower
800 Boylston Street
Boston, Massachusetts 02199
RETIREMENT | INVESTMENTS | INSURANCE voyainvestments.com | ![]() VPAR-SAIS (1216-021417) |
Item 2. Code of Ethics.
As of the end of the period covered by this report, Registrant had adopted a code of ethics, as defined in Item 2 of Form N-CSR, that applies to the Registrant’s principal executive officer and principal financial officer. There were no amendments to the Code during the period covered by the report. The Registrant did not grant any waivers, including implicit waivers, from any provisions of the Code during the period covered by this report. The code of ethics is filed herewith pursuant to Item 10(a)(1), Ex-99.CODE ETH.
Item 3. Audit Committee Financial Expert.
The Board of Directors has determined that Colleen D. Baldwin, Peter S. Drotch, Martin J. Gavin, Patrick W. Kenny, Joseph E. Obermeyer, and Roger B. Vincent are audit committee financial experts, as defined in Item 3 of Form N-CSR. Ms. Baldwin, Mr. Drotch, Mr. Gavin, Mr. Kenny, Mr. Obermeyer and Mr. Vincent are “independent” for purposes of Item 3 of Form N-CSR.
Item 4. Principal Accountant Fees and Services.
(a) | Audit Fees: The aggregate fees billed for each of the last two fiscal years for professional services rendered by KPMG LLP (“KPMG”), the principal accountant for the audit of the registrant’s annual financial statements or services that are normally provided by the accountant in connection with statutory and regulatory filings or engagements for those fiscal years were $72,000 for the year ended December 31, 2016 and $65,400 for the year ended December 31, 2015. |
(b) | Audit-Related Fees: The aggregate fees billed in each of the last two fiscal years for assurance and related services by KPMG that are reasonably related to the performance of the audit of the registrant’s financial statements and are not reported under paragraph (a) of this Item were $7,575 for the year ended December 31, 2016 and $7,575 for the year ended December 31, 2015. |
(c) | Tax Fees: The aggregate fees billed in each of the last two fiscal years for professional services rendered by KPMG for tax compliance, tax advice, and tax planning were $13,620 for the year ended December 31, 2016 and $12,949 for the year ended December 31, 2015. Such services included review of excise distribution calculations (if applicable), preparation of the Funds’ federal, state, and excise tax returns, tax services related to mergers and routine consulting. |
(d) | All Other Fees: The aggregate fees billed in each of the last two fiscal years for products and services provided by KPMG, other than the services reported in paragraphs (a) through (c) of this Item were $0 for the year ended December 31, 2016 and $0 for the year ended December 31, 2015. |
(e)(1) | Audit Committee Pre-Approval Policies and Procedures |
AUDIT AND NON-AUDIT SERVICES
PRE-APPROVAL POLICY
I. | Statement of Principles |
Under the Sarbanes-Oxley Act of 2002 (the “Act”), the Audit Committee of the Board of Directors or Trustees (the “Committee”) of the Voya funds (each a “Fund,” collectively, the “Funds”) set out on Exhibit A to this Audit and Non-Audit Services Pre-Approval Policy (“Policy”) is responsible for the oversight of the work of the Funds’ independent auditors. As part of its responsibilities, the Committee must pre-approve the audit and non-audit services performed by the auditors in order to assure that the provision of these services does not impair the auditors’ independence from the Funds. The Committee has adopted, and the Board has ratified, this Policy, which sets out the procedures and conditions under which the services of the independent auditors may be pre-approved.
Under Securities and Exchange Commission (“SEC”) rules promulgated in accordance with the Act, the Funds may establish two different approaches to pre-approving audit and non-audit services. The Committee may approve services without consideration of specific case-by-case services (“general pre-approval”) or it may pre-approve specific services (“specific pre-approval”). The Committee believes that the combination of these approaches contemplated in this Policy results in an effective and efficient method for pre-approving audit and non-audit services to be performed by the Funds’ independent auditors. Under this Policy, services that are not of a type that may receive general pre-approval require specific pre-approval by the Committee. Any proposed services that exceed pre-approved cost levels or budgeted amounts will also require the Committee’s specific pre-approval.
For both types of approval, the Committee considers whether the subject services are consistent with the SEC’s rules on auditor independence and that such services are compatible with maintaining the auditors independence. The Committee also considers whether a particular audit firm is in the best position to provide effective and efficient services to the Funds. Reasons that the auditors are in the best position include the auditors’ familiarity with the Funds’ business, personnel, culture, accounting systems, risk profile, and other factors, and whether the services will enhance the Funds’ ability to manage and control risk or improve audit quality. Such factors will be considered as a whole, with no one factor being determinative.
The appendices attached to this Policy describe the audit, audit-related, tax-related, and other services that have the Committee’s general pre-approval. For any service that has been approved through general pre-approval, the general pre-approval will remain in place for a period 12 months from the date of pre-approval, unless the Committee determines that a different period is appropriate. The Committee will annually review and pre-approve the services that may be provided by the independent auditors without specific pre-approval. The Committee will revise the list of services subject to general pre-approval as appropriate. This Policy does not serve as a delegation to Fund management of the Committee’s duty to pre-approve services performed by the Funds’ independent auditors.
II. | Audit Services |
The annual audit services engagement terms and fees are subject to the Committee’s specific pre-approval. Audit services are those services that are normally provided by auditors in connection with statutory and regulatory filings or engagements or those that generally only independent auditors can reasonably provide. They include the Funds’ annual financial statement audit and procedures that the independent auditors must perform in order to form an opinion on the Funds’ financial statements (e.g., information systems and procedural reviews and testing). The Committee will monitor the audit services engagement and approve any changes in terms, conditions or fees deemed by the Committee to be necessary or appropriate.
The Committee may grant general pre-approval to other audit services, such as statutory audits and services associated with SEC registration statements, periodic reports and other documents filed with the SEC or issued in connection with securities offerings.
The Committee has pre-approved the audit services listed on Appendix A. The Committee must specifically approve all audit services not listed on Appendix A.
III. | Audit-related Services |
Audit-related services are assurance and related services that are reasonably related to the performance of the audit or the review of the Funds’ financial statements or are traditionally performed by the independent auditors. The Committee believes that the provision of audit-related services will not impair the independent auditors’ independence, and therefore may grant pre-approval to audit-related services. Audit-related services include accounting consultations related to accounting, financial reporting or disclosure matters not classified as “audit services;” assistance with understanding and implementing new accounting and financial reporting guidance from rulemaking authorities; agreed-upon or expanded audit procedures relating to accounting and/or billing records required to respond to or comply with financial, accounting or regulatory reporting matters; and assistance with internal control reporting requirements under Form N-SAR or Form N-CSR.
The Committee has pre-approved the audit-related services listed on Appendix B. The Committee must specifically approve all audit-related services not listed on Appendix B.
IV. | Tax Services |
The Committee believes the independent auditors can provide tax services to the Funds, including tax compliance, tax planning, and tax advice, without compromising the auditors’ independence. Therefore, the Committee may grant general pre-approval with respect to tax services historically provided by the Funds’ independent auditors that do not, in the Committee’s view, impair auditor independence and that are consistent with the SEC’s rules on auditor independence.
The Committee will not grant pre-approval if the independent auditors initially recommends a transaction the sole business purpose of which is tax avoidance and the tax treatment of which may not be supported in the Internal Revenue Code and related regulations. The Committee may consult outside counsel to determine that tax planning and reporting positions are consistent with this Policy.
The Committee has pre-approved the tax-related services listed on Appendix C. The Committee must specifically approve all tax-related services not listed on Appendix C.
V. | Other Services |
The Committee believes it may grant approval of non-audit services that are permissible services for independent auditors to a Fund. The Committee has determined to grant general pre-approval to other services that it believes are routine and recurring, do not impair auditor independence, and are consistent with SEC rules on auditor independence.
The Committee has pre-approved the non-audit services listed on Appendix D. The Committee must specifically approve all non-audit services not listed on Appendix D.
A list of the SEC’s prohibited non-audit services is attached to this Policy as Appendix E. The SEC’s rules and relevant guidance should be consulted to determine the precise definitions of these impermissible services and the applicability of exceptions to certain of the SEC’s prohibitions.
VI. | Pre-approval of Fee levels and Budgeted Amounts |
The Committee will annually establish pre-approval fee levels or budgeted amounts for audit, audit-related, tax and non-audit services to be provided to the Funds by the independent auditors. Any proposed services exceeding these levels or amounts require the Committee’s specific pre-approval. The Committee considers fees for audit and non-audit services when deciding whether to pre-approve services. The Committee may determine, for a pre-approval period of 12 months, the appropriate ratio between the total amount of fees for the Fund’s audit, audit-related, and tax services (including fees for services provided to Fund affiliates that are subject to pre-approval), and the total amount of fees for certain permissible non-audit services for the Fund classified as other services (including any such services provided to Fund affiliates that are subject to pre-approval).
VII. | Procedures |
Requests or applications for services to be provided by the independent auditors will be submitted to management. If management determines that the services do not fall within those services generally pre-approved by the Committee and set out in the appendices to these procedures, management will submit the services to the Committee or its delagee. Any such submission will include a detailed description of the services to be rendered. Notwithstanding this paragraph, the Committee will, on a quarterly basis, receive from the independent auditors a list of services provided for the previous calendar quarter on a cumulative basis by the auditors during the Pre-Approval Period.
VIII. | Delegation |
The Committee may delegate pre-approval authority to one or more of the Committee’s members. Any member or members to whom such pre-approval authority is delegated must report any pre-approval decisions, including any pre-approved services, to the Committee at its next scheduled meeting. The Committee will identify any member to whom pre-approval authority is delegated in writing. The member will retain such authority for a period of 12 months from the date of pre-approval unless the Committee determines that a different period is appropriate. The period of delegated authority may be terminated by the Committee or at the option of the member.
IX. | Additional Requirements |
The Committee will take any measures the Committee deems necessary or appropriate to oversee the work of the independent auditors and to assure the auditors’ independence from the Funds. This may include reviewing a formal written statement from the independent auditors delineating all relationships between the auditors and the Funds, consistent with Independence Standards Board No. 1, and discussing with the auditors their methods and procedures for ensuring independence.
Part of KPMG’s performance of an audit in accordance with standards of the Public Company Accounting Oversight Board (US) includes their responsibility to maintain and monitor auditor independence with respect to the Voya funds. Using a proprietary system called Sentinel, the audit team is able to identify and manage potential conflicts of interest across the member firms of the KPMG International Network and prevent the provision of prohibited services to the Voya entities that would impair KPMG independence with the respect to the Voya funds. KPMG requests pre-approval from the Voya funds Audit Committee for services provided to the Voya funds and for services to affiliated entities that relate to the financial reporting or nature of operations of the Voya Funds. Additionally, KPMG provides an annual summary of the fees for services that have commenced for Voya funds and Affiliates.
Last Approved: November 19, 2015
Appendix A
Pre-Approved Audit Services for the Pre-Approval Period January 1, 2016 through December 31, 2016
Service | ||
The Fund(s) | Fee Range | |
Statutory audits or financial audits (including tax services associated with audit services) | √ | As presented to Audit Committee1 |
Services associated with SEC registration statements, periodic reports and other documents filed with the SEC or other documents issued in connection with securities offerings (e.g., consents), and assistance in responding to SEC comment letters. | √ | Not to exceed $9,750 per filing |
Consultations by Fund management with respect to accounting or disclosure treatment of transactions or events and/or the actual or potential effect of final or proposed rules, standards or interpretations by the SEC, Financial Accounting Standards Board, or other regulatory or standard setting bodies. | √ | Not to exceed $8,000 during the Pre-Approval Period |
Seed capital audit and related review and issuance of consent on the N-2 registration statement | √ | Not to exceed $13,750 per audit |
Audit of summary portfolio of investments | √ | Not to exceed $525 per fund |
1 | For new Funds launched during the Pre-Approval Period, the fee ranges pre-approved will be the same as those for existing Funds, pro-rated in accordance with inception dates as provided in the auditors’ Proposal or any Engagement Letter covering the period at issue. Fees in the Engagement Letter will be controlling. |
Appendix B
Pre-Approved Audit-Related Services for the Pre-Approval Period January 1, 2016 through December 31, 2016
Service | |||
The Fund(s) | Fund Affiliates | Fee Range | |
Services related to Fund mergers (Excludes tax services - See Appendix C for tax services associated with Fund mergers) | √ | √ | Not to exceed $10,000 per merger |
Consultations by Fund management with respect to accounting or disclosure treatment of transactions or events and/or the actual or potential effect of final or proposed rules, standards or interpretations by the SEC, Financial Accounting Standards Board, or other regulatory or standard setting bodies. [Note: Under SEC rules some consultations may be “audit” services and others may be “audit-related” services.] | √ | Not to exceed $5,000 per occurrence during the Pre-Approval Period | |
Review of the Funds’ semi-annual and quarterly financial statements | √ | Not to exceed $2,525 per set of financial statements per fund | |
Reports to regulatory or government agencies related to the annual engagement | √ | Up to $5,000 per occurrence during the Pre-Approval Period | |
Regulatory compliance assistance | √ | √ | Not to exceed $5,000 per quarter |
Training courses | √ | Not to exceed $5,000 per course | |
For Prime Rate Trust, agreed upon procedures for quarterly reports to rating agencies | √ | Not to exceed $9,450 per quarter |
Appendix C
Pre-Approved Tax Services for the Pre-Approval Period January 1, 2016 through December 31, 2016
Service | |||
The Fund(s) | Fund Affiliates | Fee Range | |
Preparation of federal and state income tax returns and federal excise tax returns for the Funds including assistance and review with excise tax distributions | √ | As presented to Audit Committee2 | |
Review of IRC Sections 851(b) and 817(h) diversification testing on a real-time basis | √ | As presented to Audit Committee2 | |
Assistance and advice regarding year-end reporting for 1099’s, as requested | √ | As presented to Audit Committee2 | |
Tax assistance and advice regarding statutory, regulatory or administrative developments | √ | √ | Not to exceed $5,000 for the Funds or for the Funds’ investment adviser during the Pre-Approval Period |
2 | For new Funds launched during the Pre-Approval Period, the fee ranges pre-approved will be the same as those for existing Funds, pro-rated in accordance with inception dates as provided in the auditors’ Proposal or any Engagement Letter covering the period at issue. Fees in the Engagement Letter will be controlling. |
Appendix C, continued
Service | |||
The Fund(s) | Fund Affiliates | Fee Range | |
Tax training courses | √ | Not to exceed $5,000 per course during the Pre-Approval Period | |
Tax services associated with Fund mergers | √ | √ | Not to exceed $4,000 per fund per merger during the Pre-Approval Period |
Other tax-related assistance and consultation, including, without limitation, assistance in evaluating derivative financial instruments and international tax issues, qualification and distribution issues, and similar routine tax consultations. | √ | Not to exceed $120,000 during the Pre-Approval Period |
Appendix D
Pre-Approved Other Services for the Pre-Approval Period January 1, 2016 through December 31, 2016
Service | |||
The Fund(s) | Fund Affiliates | Fee Range | |
Agreed-upon procedures for Class B share 12b-1 programs | √ | Not to exceed $60,000 during the Pre-Approval Period | |
Security counts performed pursuant to Rule 17f-2 of the 1940 Act (i.e., counts for Funds holding securities with affiliated sub-custodians)
Cost to be borne 50% by the Funds and 50% by Voya Investments, LLC. | √
| √
| Not to exceed $5,300 per Fund during the Pre-Approval Period |
Agreed upon procedures for 15 (c) FACT Books | √ | Not to exceed $50,000 during the Pre-Approval Period |
Appendix E
Prohibited Non-Audit Services
Dated: January 1, 2016 to December 31, 2016
· | Bookkeeping or other services related to the accounting records or financial statements of the Funds |
· | Financial information systems design and implementation |
· | Appraisal or valuation services, fairness opinions, or contribution-in-kind reports |
· | Actuarial services |
· | Internal audit outsourcing services |
· | Management functions |
· | Human resources |
· | Broker-dealer, investment adviser, or investment banking services |
· | Legal services |
· | Expert services unrelated to the audit |
· | Any other service that the Public Company Accounting Oversight Board determines, by regulation, is impermissible |
EXHIBIT A
VOYA ASIA PACIFIC HIGH DIVIDEND EQUITY INCOME FUND
VOYA BALANCED PORTFOLIO, INC.
VOYA EMERGING MARKETS HIGH DIVIDEND EQUITY FUND
VOYA EQUITY TRUST
VOYA FUNDS TRUST
VOYA GLOBAL ADVANTAGE AND PREMIUM OPPORTUNITY FUND
VOYA GLOBAL EQUITY DIVIDEND AND PREMIUM OPPORTUNITY FUND
VOYA INFRASTRUCTURE, INDUSTRIALS, AND MATERIALS FUND
VOYA INTERMEDIATE BOND PORTFOLIO
VOYA INTERNATIONAL HIGH DIVIDEND EQUITY INCOME FUND
VOYA INVESTORS TRUST
VOYA MONEY MARKET PORTFOLIO
VOYA MUTUAL FUNDS
VOYA PARTNERS, INC.
VOYA PRIME RATE TRUST
VOYA NATURAL RESOURCES EQUITY INCOME FUND
VOYA SENIOR INCOME FUND
VOYA SEPARATE PORTFOLIOS TRUST
VOYA SERIES FUND, INC.
VOYA STRATEGIC ALLOCATIONS PORTFOLIOS, INC.
VOYA VARIABLE FUNDS
VOYA VARIABLE INSURANCE TRUST
VOYA VARIABLE PORTFOLIOS INC,
VOYA VARIABLE PRODUCTS TRUST
(e)(2) | Percentage of services referred to in 4(b) – (4)(d) that were approved by the audit committee |
100% of the services were approved by the audit committee.
(f) | Percentage of hours expended attributable to work performed by other than full time employees of KPMG if greater than 50% |
Not applicable.
(g) | Non-Audit Fees: The following table presents (i) the aggregate non-audit fees (i.e., fees for audit-related, tax, and other services) billed to each Registrant by the independent registered public accounting firm for each Registrant’s fiscal years ended December 31, 2016 and December 31, 2015; and (ii) the aggregate non-audit fees billed to the investment adviser, or any of its affiliates that provide ongoing services to the registrant, by the independent registered public accounting firm for the same time periods. |
Registrant/Investment Adviser | 2016 | 2015 | ||||||
Voya Strategic Allocation Portfolios, Inc. | $ | 21,195 | $ | 20,524 | ||||
Voya Investments, LLC (1) | $ | 93,650 | $ | 145,625 |
(1) | Each Registrant’s investment adviser and any of its affiliates, which are subsidiaries of Voya Financial, Inc. |
(h) | Principal Accountants Independence: The Registrant’s Audit committee has considered whether the provision of non-audit services that were rendered to the registrant’s investment adviser and any entity controlling, controlled by, or under common control with the investment adviser that provides ongoing services to the registrant that were not pre-approved pursuant to Rule 2-01(c)(7)(ii) of Regulation S-X is compatible with maintaining KPMG’s independence. |
Item 5. Audit Committee of Listed Registrants.
Not applicable.
Item 6. Schedule of Investments.
Schedule in included as part of the report to shareholders filed under Item 1 of this Form.
Item 7. Disclosure of Proxy Voting Policies and Procedures for Closed-End Management Investment Companies.
Not applicable.
Item 8. Portfolio Managers of Closed-End Management Investment Companies.
Not applicable.
Item 9. Purchases of Equity Securities by Closed-End Management Investment Company and Affiliated Purchasers.
Not applicable.
Item 10. Submission of Matters to a Vote of Security Holders.
Not applicable.
Item 11. Controls and Procedures.
(a) | Based on our evaluation conducted within 90 days of the filing date, hereof, the design and operation of the registrant’s disclosure controls and procedures are effective to ensure that material information relating to the registrant is made known to the certifying officers by others within the appropriate entities, particularly during the period in which Forms N-CSR are being prepared, and the registrant’s disclosure controls and procedures allow timely preparation and review of the information for the registrant’s Form N-CSR and the officer certifications of such Form N-CSR. |
(b) | There were no significant changes in the registrant’s internal controls that occurred during the second fiscal quarter of the period covered by this report that has materially affected, or is reasonably likely to materially affect, the registrant’s internal control over financial reporting. |
Item 12. Exhibits.
(a)(1) | The Code of Ethics pursuant to Item 2 of Form N-CSR is filed and attached hereto as EX-99.CODE ETH. |
(a)(2) | A separate certification for each principal executive officer and principal financial officer of the registrant as required by Rule 30a-2(a) under the Act (17 CFR 270.30a-2(a)) is attached hereto as EX-99.CERT. |
(a)(3) | Not applicable. |
(b) | The officer certifications required by Section 906 of the Sarbanes-Oxley Act of 2002 are attached hereto as EX-99.906CERT. |
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
(Registrant): Voya Strategic Allocation Portfolios, Inc.
By | /s/ Shaun P. Mathews | |
Shaun P. Mathews | ||
President and Chief Executive Officer | ||
Date: | March 10, 2017 |
Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, this report has been signed below by the following persons on behalf of the registrant and in the capacities and on the dates indicated.
By | /s/ Shaun P. Mathews | |
Shaun P. Mathews | ||
President and Chief Executive Officer | ||
Date: | March 10, 2017 | |
By | /s/ Todd Modic | |
Todd Modic | ||
Senior Vice President and Chief Financial Officer | ||
Date: | March 10, 2017 |