Long Duration Credit

Overview
Performance
Literature
Team

Approach

This strategy employs a total return approach, investing in an array of long-dated corporate and treasury bonds. We believe that selecting securities based on rigorous credit research and a keen awareness of credit cycles is critical for identifying investment opportunities and managing downside risk.

Key Benefits

Experienced, Consistent Team: Dedicated team with extensive experience across wide array of long duration strategies, both custom and off-the-shelf with unique risk/return and duration profiles
Advantaged Security Selection: Our strategies leverage the platforms "sector level centers of excellence" to provide significant alpha via security selection
Solutions-Oriented Approach: An experienced and well-resourced long duration solutions team focused on developing the most appropriate solution for each client concurrent with their specific needs

Performance

As of 11/30/24	1 Month	3 Month	YTD	1yr	3yr	5yr	10yr	Since Inception (1/01/15)
Gross	2.12	0.65	2.47	9.57	-5.56	-0.65	-	2.93
Net	2.10	0.58	2.24	9.30	-5.80	-0.90	-	2.66
Index*	2.21	0.50	2.38	9.85	-5.50	-1.04	-	2.58

* Bloomberg U.S. Long Credit Index

Past performance does not guarantee future results.

Periods greater than one year are annualized. Performance data is considered final unless indicated as preliminary. Monthly performance is based on full GIPS Composite returns. Access the GIPS page for full composite details.

The Composite performance information represents the investment results of a group of fully discretionary accounts managed with the investment objective of outperforming the benchmark. Information is subject to change at any time. Gross returns are presented after all transaction costs, but before management fees. Returns include the reinvestment of income. Net performance is shown after the deduction of a model management fee equal to the highest fee charged.

Literature

Voya Long Duration Credit Strategy Brief

Date: September 30, 2024

Includes Investment Commentary

Approved For: Financial Professional or Qualified Institutional Investor Use Only

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Investment Team

Randy Parrish, CFA

Head of Public Credit

Years of Experience: 34

Years with Voya: 23

Randy Parrish is a managing director and head of public credit at Voya Investment Management, overseeing the investment grade, emerging market and leveraged credit teams. Previously at Voya, Randy was head of high yield and served as a portfolio manager and analyst on the high yield team. Prior to joining Voya, he was a corporate banker in leveraged finance with SunTrust Bank and predecessors to Bank of America. Randy earned a BBA in business administration from the University of Georgia and is a CFA® Charterholder.

Travis King, CFA

Head of U.S. Investment Grade Corporates

Years of Experience: 26

Years with Voya: 19

Travis King is head of U.S. investment grade corporates at Voya Investment Management. Prior to joining Voya, he was a senior fixed income analyst with Reams Asset Management. Travis earned an MBA from Memorial University, Canada and a BBA from James Madison University. He is a CFA® Charterholder.

Anil Katarya, CFA

Global Head of Investment Grade Credit

Years of Experience: 26

Years with Voya: 24

Anil Katarya is global head of investment grade credit and senior portfolio manager at Voya Investment Management. Previously at Voya, Anil was the head of credit portfolio management and served as a portfolio manager and credit analyst on the investment grade team. Prior to joining Voya, Anil was a financial analyst for Mirant Inc. He earned an MBA from Georgia State University and a BS in mechanical engineering from Kurukshetra University, India. He is a CFA® Charterholder.

Disclosures

Principal Risk

The Strategy’s principal risks are generally those attributable to investing in stocks, bonds and related derivative instruments, and short selling. Holdings are subject to market, issuer, credit, prepayment, extension, counterparty and other risks, and their values may fluctuate. Market risk is the risk that securities may decline in value due to factors affecting the securities markets or particular industries. Issuer risk is the risk that the value of a security may decline for reasons specific to the issuer, such as changes in its financial condition. The Strategy may invest in mortgage-related securities, which can be repaid early if the borrowers on the underlying mortgages pay off their mortgages sooner than scheduled. If interest rates are falling, the Strategy will be forced to reinvest this money at lower yields. Conversely, if interest rates are rising, the expected principal payments will slow, thereby locking in the coupon rate at below market levels and extending the security’s life and duration while reducing its market value.