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: 811-21553
Voya Global Equity Dividend and Premium Opportunity Fund
(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 Company, 1209 Orange Street, Wilmington, DE 19801
(Name and address of agent for service)
Registrant’s telephone number, including area code: 1-800-992-0180
Date of fiscal year end: February 28
Date of reporting period: February 28, 2018
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 intended for existing current holders. It is not a prospectus. This information should be read carefully. |
INVESTMENT MANAGEMENT | |
voyainvestments.com |
Presidents
Letter |
1 | |||||
Market
Perspective |
2 | |||||
Portfolio
Managers Report |
4 | |||||
Report of
Independent Registered Public Accounting Firm |
6 | |||||
Statement of
Assets and Liabilities |
7 | |||||
Statement of
Operations |
8 | |||||
Statements of
Changes in Net Assets |
9 | |||||
Financial
Highlights |
10 | |||||
Notes to
Financial Statements |
11 | |||||
Summary Portfolio
of Investments (Portfolio of Investments) |
20 | |||||
Tax
Information |
26 | |||||
Shareholder
Meeting Information |
27 | |||||
Trustee and
Officer Information |
28 | |||||
Advisory and
Sub-Advisory Contract Approval Discussion |
33 | |||||
Additional
Information |
37 |
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PROXY VOTING INFORMATION
A description of the policies and procedures that the Fund uses to determine how to vote proxies related to portfolio securities is available: (1) without charge, upon request, by calling Shareholder Services toll-free at (800) 992-0180; (2) on the Funds website at www.voyainvestments.com; and (3) on the U.S. Securities and Exchange Commissions (SECs) website at www.sec.gov. Information regarding how the Fund voted proxies related to portfolio securities during the most recent 12-month period ended June 30 is available without charge on the Funds website at www.voyainvestments.com and on the SECs website at www.sec.gov.
QUARTERLY PORTFOLIO HOLDINGS
The Fund files its complete schedule of portfolio holdings with the SEC for the first and third quarters of each fiscal year on Form N-Q. This report contains a summary portfolio of investments for the Fund. The Funds Forms N-Q are available on the SECs website at www.sec.gov. The Funds Forms N-Q may be reviewed and copied at the SECs 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 Funds Forms N-Q, as well as a complete portfolio of investments, are available without charge upon request from the Fund by calling Shareholder Services toll-free at (800) 992-0180.
The views expressed in the Presidents 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. International investing does pose special risks including currency fluctuation, economic and political risks not found in investments that are solely domestic.
More complete information about the Fund, including the Funds daily New York Stock Exchange closing prices and NAV per share, is available at www.voyainvestments.com or by calling the Funds Shareholder Service Department at (800) 992-0180. To obtain a prospectus for any Voya mutual fund, please call your financial advisor or a funds Shareholder Service Department at (800) 992-0180 or log on to www.voyainvestments.com. A prospectus should be read carefully before investing. Consider a funds investment objectives, risks, charges and expenses carefully before investing. A prospectus contains this information and other information about a fund. Check with your financial advisor to determine which Voya mutual funds are available for sale within their firm. Not all funds are available for sale at all firms.
* |
The final tax composition of dividends and distributions will not be determined until after the Funds tax year-end. |
(1) |
Total investment return at NAV has been calculated assuming a purchase at NAV at the beginning of each period and a sale at NAV at the end of each period and assumes reinvestment of dividends, capital gain distributions, and return of capital distributions/allocations, if any, in accordance with the provisions of the Funds dividend reinvestment plan. |
(2) |
Total returns shown include, if applicable, the effect of fee waivers and/or expense reimbursements by the investment adviser. Had all fees and expenses been considered, the total returns would have been lower. |
(3) |
Total investment return at market value measures the change in the market value of your investment assuming reinvestment of dividends, capital gain distributions, and return of capital distributions/allocations, if any, in accordance with the provisions of the Funds dividend reinvestment plan. |
(4) |
Effective March 31, 2018, Mr. Shaun P. Mathews has retired as the president and chief executive officer to the Funds and is replaced with Dina Santoro as president to the Funds and Michael Bell as chief executive officer to the Funds. |
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. |
||
Chicago Board
Options Exchange BuyWrite Monthly Index (CBOE BuyWrite Monthly Index) |
A
passive total return index based on selling the near-term, at-the-money S&P 500®
Index call option against the S&P 500® stock index portfolio
each month, on the day the current contract expires. |
||
EuroStoxx 50
Index |
Covers
50 stocks from 12 euro zone countries: Austria, Belgium, Finland, France, Germany, Greece, Ireland, Italy, Luxembourg, the Netherlands, Portugal and
Spain. |
||
FTSE 100
Index |
A
share index of the 100 most highly capitalized U.K. companies listed on the London Stock Exchange. |
||
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. |
||
Nikkei All Stock
Index |
A
price weighted index and made up of the top 225 industry leading companies which investors trade on the Tokyo Stock Exchange. |
||
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 GLOBAL
EQUITY DIVIDEND AND PREMIUM OPPORTUNITY FUND |
PORTFOLIO MANAGERS REPORT |
Geographic Diversification as of February 28, 2018 (as a percentage of net assets) |
|||||||
United
States |
44.9 | % | |||||
France |
11.2 | % | |||||
United
Kingdom |
8.9 | % | |||||
Japan |
7.5 | % | |||||
Switzerland |
5.5 | % | |||||
Italy |
3.9 | % | |||||
Netherlands |
2.3 | % | |||||
Canada |
2.3 | % | |||||
Spain |
2.0 | % | |||||
Germany |
1.6 | % | |||||
Countries
between 0.9%1.4%ˆ |
3.5 | % | |||||
Assets in
Excess of Other Liabilities*,* |
6.4 | % | |||||
Net
Assets |
100.0 | % | |||||
* Includes short-term investments. |
|||||||
* Includes purchased options. |
|||||||
ˆ Includes 3 countries, which each represents 0.9%1.4% of net assets. |
|||||||
Portfolio holdings are subject to change daily. |
Top Ten Holdings as of February 28, 2018* (as a percentage of net assets) |
|||||||
Apple,
Inc. |
2.7 | % | |||||
Cisco
Systems, Inc. |
2.3 | % | |||||
Microsoft
Corp. |
2.1 | % | |||||
Cie de
Saint-Gobain |
2.0 | % | |||||
Citigroup, Inc. |
2.0 | % | |||||
Vodafone
Group PLC |
1.9 | % | |||||
General
Electric Co. |
1.8 | % | |||||
International Business Machines Corp. |
1.7 | % | |||||
Sumitomo
Mitsui Financial Group, Inc. |
1.7 | % | |||||
Pfizer,
Inc. |
1.7 | % | |||||
* Excludes short-term investments. |
|||||||
Portfolio holdings are subject to change daily. |
PORTFOLIO MANAGERS REPORT |
VOYA GLOBAL EQUITY DIVIDEND AND PREMIUM OPPORTUNITY FUND |
* |
Effective December 1, 2017, Moudy El Khodr was added as a portfolio manager to the Fund. |
(1) |
Total returns shown include, if applicable, the effect of fee waivers and/or expense reimbursements by the investment adviser. Had all fees and expenses been considered, the total returns would have been lower. |
(2) |
Total investment return at NAV has been calculated assuming a purchase at NAV at the beginning of each period and a sale at NAV at the end of each period and assumes reinvestment of dividends, capital gain distributions, and return of capital distributions/allocations, if any, in accordance with the provisions of the Funds dividend reinvestment plan. |
(3) |
Total investment return at market value measures the change in the market value of your investment assuming reinvestment of dividends, capital gain distributions, and return of capital distributions/allocations, if any, in accordance with the provisions of the Funds dividend reinvestment plan. |
(4) |
The final tax composition of dividends and distributions will not be determined until after the Funds tax year-end. |
ASSETS: |
||||||
Investments in
securities at fair value* |
$ | 729,908,087 | ||||
Short-term
investments at fair value** |
40,306,912 | |||||
Cash collateral
for futures |
1,246,688 | |||||
Cash pledged as
collateral for OTC derivatives (Note 2) |
3,450,000 | |||||
Foreign
currencies at value*** |
24,311 | |||||
Foreign cash
collateral for futures**** |
3,370,145 | |||||
Receivables: |
||||||
Investment
securities sold |
4,420,746 | |||||
Dividends |
1,938,908 | |||||
Foreign tax
reclaims |
267,179 | |||||
Prepaid
expenses |
1,919 | |||||
Reimbursement
due from manager |
12,142 | |||||
Other
assets |
44,135 | |||||
Total
assets |
784,991,172 | |||||
LIABILITIES: |
||||||
Payable for
investment securities purchased |
2,401,954 | |||||
Payable for
investment management fees |
692,122 | |||||
Payable to
trustees under the deferred compensation plan (Note 6) |
44,135 | |||||
Payable for
trustee fees |
3,969 | |||||
Other accrued
expenses and liabilities |
274,653 | |||||
Written options,
at fair valueˆ |
2,466,230 | |||||
Total
liabilities |
5,883,063 | |||||
NET
ASSETS |
$ | 779,108,109 | ||||
NET ASSETS
WERE COMPRISED OF: |
||||||
Paid-in
capital |
$ | 788,487,282 | ||||
Undistributed
net investment income |
322,767 | |||||
Accumulated net
realized loss |
(2,558,622 | ) | ||||
Net unrealized
depreciation |
(7,143,318 | ) | ||||
NET
ASSETS |
$ | 779,108,109 | ||||
* Cost of
investments in securities |
$ | 738,052,817 | ||||
** Cost of
short-term investments |
$ | 40,306,912 | ||||
*** Cost of
foreign currencies |
$ | 68,965 | ||||
**** Cost of
foreign cash collateral for futures |
$ | 3,370,145 | ||||
ˆ Premiums
received on written options |
$ | 5,089,089 | ||||
Net
assets |
$ | 779,108,109 | ||||
Shares
authorized |
unlimited | |||||
Par
value |
$ | 0.010 | ||||
Shares
outstanding |
97,077,421 | |||||
Net asset
value |
$ | 8.03 |
INVESTMENT
INCOME: |
||||||
Dividends, net
of foreign taxes withheld* |
$ | 24,387,018 | ||||
Total
investment income |
24,387,018 | |||||
EXPENSES: |
||||||
Investment
management fees |
9,128,525 | |||||
Transfer agent
fees |
27,135 | |||||
Shareholder
reporting expense |
138,480 | |||||
Professional
fees |
69,715 | |||||
Custody and
accounting expense |
205,691 | |||||
Trustee
fees |
31,751 | |||||
Miscellaneous
expense |
136,140 | |||||
Total
expenses |
9,737,437 | |||||
Waived and
reimbursed fees |
(190,991 | ) | ||||
Net
expenses |
9,546,446 | |||||
Net investment
income |
14,840,572 | |||||
REALIZED AND
UNREALIZED GAIN (LOSS): |
||||||
Net realized
gain (loss) on: |
||||||
Investments |
31,114,090 | |||||
Forward
foreign currency contracts |
30,110 | |||||
Foreign
currency related transactions |
915,453 | |||||
Futures |
8,028,742 | |||||
Written
options |
(23,956,702 | ) | ||||
Net realized
gain |
16,131,693 | |||||
Net change in
unrealized appreciation (depreciation) on: |
||||||
Investments |
39,704,968 | |||||
Foreign
currency related transactions |
8,416 | |||||
Futures |
(1,904,773 | ) | ||||
Written
options |
4,098,881 | |||||
Net change in
unrealized appreciation (depreciation) |
41,907,492 | |||||
Net realized and
unrealized gain |
58,039,185 | |||||
Increase in
net assets resulting from operations |
$ | 72,879,757 | ||||
*Foreign taxes withheld |
$ | 1,629,006 |
Year Ended February 28, 2018 |
Year Ended February 28, 2017 |
|||||||||
---|---|---|---|---|---|---|---|---|---|---|
FROM
OPERATIONS: |
||||||||||
Net investment
income |
$ | 14,840,572 | $ | 18,196,237 | ||||||
Net realized
gain |
16,131,693 | 30,677,630 | ||||||||
Net change in
unrealized appreciation (depreciation) |
41,907,492 | 83,946,417 | ||||||||
Increase in net
assets resulting from operations |
72,879,757 | 132,820,284 | ||||||||
FROM
DISTRIBUTIONS TO SHAREHOLDERS: |
||||||||||
Net investment
income |
(29,372,489 | ) | (60,524,406 | ) | ||||||
Return of
capital |
(41,688,183 | ) | (25,484,984 | ) | ||||||
Total
distributions |
(71,060,672 | ) | (86,009,390 | ) | ||||||
FROM CAPITAL
SHARE TRANSACTIONS: |
||||||||||
Cost of shares
repurchased, net of commissions |
| (3,250,793 | ) | |||||||
Net decrease in
net assets resulting from capital share transactions |
| (3,250,793 | ) | |||||||
Net increase in
net assets |
1,819,085 | 43,560,101 | ||||||||
NET
ASSETS: |
||||||||||
Beginning of
year or period |
777,289,024 | 733,728,923 | ||||||||
End of year or
period |
$ | 779,108,109 | $ | 777,289,024 | ||||||
Undistributed
(distributions in excess of) net investment income or accumulated net investment loss at end of year or period |
$ | 322,767 | $ | (1,183,653 | ) |
Per Share Operating Performance |
Ratios and Supplemental Data |
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Income (loss) from investment operations |
|
Less distributions |
|
Ratios to average net assets |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Net asset value, beginning of year or period |
|
Net investment income |
|
Net realized and unrealized gain (loss) |
|
Total from investment operations |
|
From net investment income |
|
From net realized gains |
|
From return of capital |
|
Total distributions |
|
Adjustment to paid-in capital for offering costs |
|
Net asset value, end of year or period |
|
Market value, end of year or period |
|
Total investment return at net asset value(1) |
|
Total investment return at market value(2) |
|
Net assets, end of year or period 000s |
|
Gross expenses prior to expense waiver/ recoupment(3) |
|
Net expenses after expense waiver/ recoupment(3),(4) |
|
Net investment income (loss)(3),(4) |
|
Portfolio turnover |
||||||||||||||||||||||||||||||||||||||
Year or period ended |
($) |
|
($) |
|
($) |
|
($) |
|
($) |
|
($) |
|
($) |
|
($) |
|
($) |
|
($) |
|
($) |
|
(%) |
|
(%) |
|
($000s) |
|
(%) |
|
(%) |
|
(%) |
|
(%) |
|||||||||||||||||||||||||||||||||||||
02-28-18 |
8.01 | 0.15 | 0.60 | 0.75 | 0.30 | | 0.43 | 0.73 | | 8.03 | 7.56 | 10.28 | 14.08 | 779,108 | 1.23 | 1.20 | 1.87 | 33 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
02-28-17 |
7.52 | 0.19 | 1.18 | 1.37 | 0.62 | | 0.26 | 0.88 | | 8.01 | 7.29 | 20.78 | 26.97 | 777,289 | 1.23 | 1.20 | 2.39 | 31 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
02-29-16 |
9.31 | 0.18 | (1.06 | ) | (0.88 | ) | 0.77 | | 0.14 | 0.91 | | 7.52 | 6.51 | (8.90 | )(5) | (13.92 | ) | 733,729 | 1.23 | 1.20 | 2.10 | 29 | ||||||||||||||||||||||||||||||||||||||||||||||||||
02-28-15 |
10.05 | 0.22 | (0.05 | ) | 0.17 | 0.91 | | | 0.91 | | 9.31 | 8.53 | 2.47 | 3.92 | 908,601 | 1.22 | 1.20 | 2.23 | 31 | |||||||||||||||||||||||||||||||||||||||||||||||||||||
02-28-14 |
9.82 | 0.27 | 0.92 | 1.19 | 0.69 | | 0.27 | 0.96 | | 10.05 | 9.08 | 13.65 | 9.95 | 979,929 | 1.22 | 1.20 | 2.70 | 48 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
02-28-13 |
10.01 | 0.27 | 0.61 | 0.88 | 0.25 | | 0.82 | 1.07 | | 9.82 | 9.17 | 10.34 | 7.88 | 958,153 | 1.23 | 1.18 | 2.78 | 75 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
02-29-12 |
11.39 | 0.36 | | (0.55 | ) | (0.19 | ) | 0.26 | | 0.93 | 1.19 | | 10.01 | 9.56 | (1.13 | ) | (3.28 | ) | 976,685 | 1.24 | 1.14 | 3.45 | 90 | |||||||||||||||||||||||||||||||||||||||||||||||||
02-28-11 |
11.58 | 0.35 | 0.76 | 1.11 | 0.82 | | 0.48 | 1.30 | | 11.39 | 11.12 | 10.44 | 0.29 | 1,108,699 | 1.22 | 1.07 | 3.16 | 58 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
02-28-10 |
9.81 | 0.38 | 3.17 | 3.55 | 0.30 | | 1.48 | 1.78 | | 11.58 | 12.45 | 38.12 | 78.96 | 1,117,910 | 1.23 | 1.03 | 3.34 | 72 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
02-28-09 |
17.39 | 0.68 | | (6.39 | ) | (5.71 | ) | 0.95 | | 0.92 | 1.87 | | 9.81 | 8.14 | (34.02 | ) | (45.09 | ) | 947,889 | 1.22 | 1.02 | 4.76 | 84 |
(1) |
Total investment return at net asset value has been calculated assuming a purchase at net asset value at the beginning of each period and a sale at net asset value at the end of each period and assumes reinvestment of dividends, capital gain distributions and return of capital distributions/allocations, if any, in accordance with the provisions of the dividend reinvestment plan. Total investment return at net asset value is not annualized for periods less than one year. |
(2) |
Total investment return at market value measures the change in the market value of your investment assuming reinvestment of dividends, capital gain distributions and return of capital distributions/allocations, if any, in accordance with the provisions of the Funds dividend reinvestment plan. Total investment return at market value is not annualized for periods less than one year. |
(3) |
Annualized for periods less than one year. |
(4) |
The Investment Adviser has entered into a written expense limitation agreement with the Fund under which it will limit the expenses of the Fund (excluding interest, taxes, investment-related costs, leverage expenses, extraordinary expenses and acquired fund fees and expenses) subject to possible recoupment by the Investment Adviser within three years of being incurred. |
(5) |
Excluding amounts related to a foreign currency settlement recorded in the fiscal year ended February 29, 2016, the Funds total return would have been (9.51)%. | |
| Calculated using average number of shares outstanding throughout the year or period. |
(1) |
Market value of investment securities, other assets and liabilities at the exchange rates prevailing at Market Close. |
(2) |
Purchases and sales of investment securities, income and expenses at the rates of exchange prevailing on the respective dates of such transactions. |
February 28, |
||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
2019 |
2020 |
2021 |
Total |
|||||||||||
$192,712 |
$185,123 |
$190,991 |
$568,826 |
Notional Amount |
Cost |
|||||||||
---|---|---|---|---|---|---|---|---|---|---|
Balance at
02/28/2017 |
$ | 219,000,000 | $ | 1,097,708 | ||||||
Options
Purchased |
512,200,000 | 2,546,973 | ||||||||
Options
Expired |
(601,700,000 | ) | (3,053,173 | ) | ||||||
Options
Terminated in Closing Sell Transactions |
10,500,000 | 75,492 | ||||||||
Balance at
02/28/2018 |
$ | 140,000,000 | $ | 667,000 |
Notional Amount |
Premiums Received |
|||||||||
---|---|---|---|---|---|---|---|---|---|---|
Balance at
02/28/2017 |
$ | 219,000,000 | $ | 1,042,523 | ||||||
Options
Written |
488,200,000 | 2,376,952 | ||||||||
Options
Expired |
(409,500,000 | ) | (1,836,633 | ) | ||||||
Options
Terminated in Closing Purchase Transactions |
(157,700,000 | ) | (915,842 | ) | ||||||
Balance at
02/28/2018 |
$ | 140,000,000 | $ | 667,000 |
Number of Contracts |
Premiums Received |
|||||||||
---|---|---|---|---|---|---|---|---|---|---|
Balance at
02/28/2017 |
445,200 | $ | 4,335,995 | |||||||
Options
Written |
2,667,400 | 27,422,657 | ||||||||
Options
Expired |
(1,063,700 | ) | (9,637,795 | ) | ||||||
Options
Terminated in Closing Purchase Transactions |
(1,770,200 | ) | (17,698,768 | ) | ||||||
Balance at
02/28/2018 |
278,700 | $ | 4,422,089 |
Shares repurchased |
Net increase (decrease) in shares outstanding |
Shares repurchased, net of commissions |
Net increase (decrease) |
|||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Year or period ended |
# |
# |
($) |
($) |
||||||||||||||
2/28/2018 |
| | | | ||||||||||||||
2/28/2017 |
(471,504 | ) | (471,504 | ) | (3,250,793 | ) | (3,250,793 | ) |
Paid-in Capital |
Undistributed Net Investment Income |
Accumulated Net Realized Gains/(Losses) |
||
---|---|---|---|---|
$ (258,500,015) |
$16,038,337 | $242,461,678 |
(1) |
$241,793,115 relates to the expiration of capital loss carryforwards. |
(2) |
$16,706,900 relates to distributions in excess of net investment income taxed as ordinary income due to current year earnings and profits. |
Tax Year Ended December 31, 2017 | Tax Year Ended December 31, 2016 |
|||||
---|---|---|---|---|---|---|
Ordinary Income |
Return of Capital |
Ordinary Income |
Return of Capital |
|||
$
31,698,016 |
$
39,362,656 |
$
61,635,335 |
$ 25,866,051 |
Unrealized Appreciation/ (Depreciation) |
---|
$ 5,599,297 |
Per Share Amount |
Declaration Date |
Payable Date |
Record Date |
|||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
$0.061 | 2/15/2018 | 3/15/2018 | 3/2/2018 | |||||||||||
$0.061 | 3/15/2018 | 4/16/2018 | 4/3/2018 | |||||||||||
$0.061 | 4/16/2018 | 5/15/2018 | 5/2/2018 |
VOYA GLOBAL EQUITY DIVIDEND AND PREMIUM OPPORTUNITY FUND |
SUMMARY PORTFOLIO OF INVESTMENTS AS OF FEBRUARY 28, 2018 |
Shares |
|
|
|
Value |
|
Percentage of Net Assets |
|||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
COMMON STOCK: 93.6% |
|||||||||||||||||||
|
Canada: 2.3% |
||||||||||||||||||
425,114 |
Shaw Communications, Inc. Class B |
$ | 8,229,295 | 1.1 | |||||||||||||||
138,128 |
Other Securities |
9,510,563 | 1.2 | ||||||||||||||||
17,739,858 | 2.3 | ||||||||||||||||||
France: 11.2% |
|||||||||||||||||||
156,793 |
BNP Paribas |
12,397,737 | 1.6 | ||||||||||||||||
170,194 |
Casino Guichard Perrachon S.A. |
9,219,446 | 1.2 | ||||||||||||||||
281,231 |
Cie de Saint-Gobain |
15,917,386 | 2.0 | ||||||||||||||||
773,190 |
Engie SA |
12,058,981 | 1.5 | ||||||||||||||||
110,797 |
Sanofi |
8,747,433 | 1.1 | ||||||||||||||||
221,100 |
Total SA |
12,575,929 | 1.6 | ||||||||||||||||
98,825 |
Vinci SA |
9,758,030 | 1.3 | ||||||||||||||||
400,300 |
Other Securities |
6,772,350 | 0.9 | ||||||||||||||||
87,447,292 | 11.2 | ||||||||||||||||||
Germany: 1.6% |
|||||||||||||||||||
462,167 |
Other Securities |
12,700,620 | 1.6 | ||||||||||||||||
Ireland: 1.2% |
|||||||||||||||||||
118,800 |
Medtronic PLC |
9,490,932 | 1.2 | ||||||||||||||||
Italy: 3.9% |
|||||||||||||||||||
658,561 |
Assicurazioni Generali S.p.A. |
12,319,948 | 1.6 | ||||||||||||||||
581,887 |
(1) |
UniCredit SpA |
12,271,848 | 1.6 | |||||||||||||||
362,887 |
Other Securities |
6,025,708 | 0.7 | ||||||||||||||||
30,617,504 | 3.9 | ||||||||||||||||||
Japan: 7.5% |
|||||||||||||||||||
1,773,000 |
Mitsubishi UFJ Financial Group, Inc. |
12,488,384 | 1.6 | ||||||||||||||||
968,800 |
Nissan Motor Co., Ltd. |
10,153,749 | 1.3 | ||||||||||||||||
300,300 |
Sumitomo Mitsui Financial Group, Inc. |
12,979,464 | 1.7 | ||||||||||||||||
521,300 |
Other Securities |
22,639,214 | 2.9 | ||||||||||||||||
58,260,811 | 7.5 | ||||||||||||||||||
Netherlands: 2.3% |
|||||||||||||||||||
376,867 |
Royal Dutch Shell PLC |
11,956,852 | 1.5 | ||||||||||||||||
179,444 |
(2) |
Other Securities |
6,093,003 | 0.8 | |||||||||||||||
18,049,855 | 2.3 | ||||||||||||||||||
Singapore: 1.4% |
|||||||||||||||||||
2,638,000 |
Other Securities |
10,731,162 | 1.4 | ||||||||||||||||
Spain: 2.0% |
|||||||||||||||||||
977,843 |
Telefonica S.A. |
9,490,892 | 1.2 | ||||||||||||||||
181,600 |
Other Securities |
6,225,050 | 0.8 | ||||||||||||||||
15,715,942 | 2.0 | ||||||||||||||||||
Sweden: 0.9% |
|||||||||||||||||||
1,005,300 |
Other Securities |
6,725,079 | 0.9 | ||||||||||||||||
Switzerland: 5.5% |
|||||||||||||||||||
409,268 |
Credit Suisse Group AG |
7,531,424 | 1.0 | ||||||||||||||||
1,707,200 |
Glencore PLC |
8,977,634 | 1.2 | ||||||||||||||||
COMMON STOCK: (continued) |
|||||||||||||||||||
Switzerland: (continued) |
|||||||||||||||||||
121,587 |
Novartis AG |
$ | 10,143,011 | 1.3 | |||||||||||||||
41,281 |
Roche Holding AG |
9,535,086 | 1.2 | ||||||||||||||||
19,911 |
Other Securities |
6,546,644 | 0.8 | ||||||||||||||||
42,733,799 | 5.5 | ||||||||||||||||||
United Kingdom: 8.9% |
|||||||||||||||||||
1,980,700 |
Kingfisher PLC |
9,748,661 | 1.2 | ||||||||||||||||
108,200 |
Reckitt Benckiser Group PLC |
8,588,584 | 1.1 | ||||||||||||||||
1,099,700 |
(1) |
Standard Chartered PLC |
12,192,478 | 1.6 | |||||||||||||||
5,276,054 |
Vodafone Group PLC |
14,749,795 | 1.9 | ||||||||||||||||
4,635,013 |
Other Securities |
24,369,271 | 3.1 | ||||||||||||||||
69,648,789 | 8.9 | ||||||||||||||||||
United States: 44.9% |
|||||||||||||||||||
54,300 |
Allergan plc |
8,374,146 | 1.1 | ||||||||||||||||
56,206 |
Amgen, Inc. |
10,328,977 | 1.3 | ||||||||||||||||
116,551 |
Apple, Inc. |
20,760,064 | 2.7 | ||||||||||||||||
140,238 |
Bristol-Myers Squibb Co. |
9,283,756 | 1.2 | ||||||||||||||||
139,100 |
Carnival Corp. |
9,307,181 | 1.2 | ||||||||||||||||
397,339 |
Cisco Systems, Inc. |
17,792,840 | 2.3 | ||||||||||||||||
205,600 |
Citigroup, Inc. |
15,520,744 | 2.0 | ||||||||||||||||
220,700 |
ConocoPhillips |
11,986,217 | 1.5 | ||||||||||||||||
118,925 |
Eli Lilly & Co. |
9,159,603 | 1.2 | ||||||||||||||||
114,348 |
Exxon Mobil Corp. |
8,660,717 | 1.1 | ||||||||||||||||
1,009,831 |
General Electric Co. |
14,248,715 | 1.8 | ||||||||||||||||
115,900 |
Gilead Sciences, Inc. |
9,124,807 | 1.2 | ||||||||||||||||
86,031 |
International Business Machines Corp. |
13,406,211 | 1.7 | ||||||||||||||||
97,900 |
Las Vegas Sands Corp. |
7,128,099 | 0.9 | ||||||||||||||||
508,244 |
Mattel, Inc. |
8,081,080 | 1.0 | ||||||||||||||||
76,775 |
McDonalds Corp. |
12,110,488 | 1.6 | ||||||||||||||||
252,147 |
Metlife, Inc. |
11,646,670 | 1.5 | ||||||||||||||||
171,676 |
Microsoft Corp. |
16,098,059 | 2.1 | ||||||||||||||||
455,300 |
Mosaic Co. |
11,983,496 | 1.5 | ||||||||||||||||
190,400 |
Oracle Corp. |
9,647,568 | 1.2 | ||||||||||||||||
353,987 |
Pfizer, Inc. |
12,853,268 | 1.7 | ||||||||||||||||
121,300 |
Philip Morris International, Inc. |
12,560,615 | 1.6 | ||||||||||||||||
65,504 |
PNC Financial Services Group, Inc. |
10,327,361 | 1.3 | ||||||||||||||||
109,182 |
Procter & Gamble Co. |
8,572,971 | 1.1 | ||||||||||||||||
193,700 |
Qualcomm, Inc. |
12,590,500 | 1.6 | ||||||||||||||||
128,700 |
Schlumberger Ltd. |
8,447,868 | 1.1 | ||||||||||||||||
993,460 |
Other Securities |
49,658,336 | 6.4 | ||||||||||||||||
349,660,357 | 44.9 | ||||||||||||||||||
Total
Common Stock (Cost $737,385,817) |
729,522,000 | 93.6 |
VOYA GLOBAL EQUITY DIVIDEND AND PREMIUM OPPORTUNITY FUND |
SUMMARY PORTFOLIO OF INVESTMENTS AS OF FEBRUARY 28, 2018 (CONTINUED) |
Shares |
|
|
|
Value |
|
Percentage of Net Assets | |||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
PURCHASED OPTIONS(3): 0.1% |
|||||||||||||||||||
Total
Purchased Options (Cost $667,000) |
$ | 386,087 | 0.1 | ||||||||||||||||
Total Long-Term Investments (Cost $738,052,817) |
729,908,087 | 93.7 | |||||||||||||||||
SHORT-TERM INVESTMENTS: 5.2% |
|||||||||||||||||||
|
Mutual Funds: 5.2% |
||||||||||||||||||
40,306,912 |
(4) |
BlackRock Liquidity Funds, FedFund, Institutional Class, 1.290% (Cost $40,306,912) |
40,306,912 | 5.2 | |||||||||||||||
Total
Short-Term Investments (Cost $40,306,912) |
40,306,912 | 5.2 | |||||||||||||||||
Total Investments in Securities (Cost $778,359,729) |
$ | 770,214,999 | 98.9 | ||||||||||||||||
Assets in Excess of Other Liabilities |
8,893,110 | 1.1 | |||||||||||||||||
Net Assets |
$ | 779,108,109 | 100.0 |
(1) |
Non-income producing security. |
(2) |
The grouping contains non-income producing securities. |
(3) |
The tables below the Portfolio of Investments detail open purchased options which are non-income producing securities. |
(4) |
Rate shown is the 7-day yield as of February 28, 2018. |
Sector Diversification |
Percentage of Net Assets |
|||||
---|---|---|---|---|---|---|
Financials |
19.5 | % | ||||
Information
Technology |
14.4 | |||||
Health
Care |
13.8 | |||||
Consumer
Discretionary |
10.4 | |||||
Consumer
Staples |
8.1 | |||||
Energy |
7.8 | |||||
Industrials |
6.8 | |||||
Telecommunication Services |
5.7 | |||||
Utilities |
3.6 | |||||
Materials |
3.5 | |||||
Purchased
Options |
0.1 | |||||
Short-Term
Investments |
5.2 | |||||
Assets in Excess
of Other Liabilities |
1.1 | |||||
Net
Assets |
100.0 | % |
Quoted Prices in Active Markets for Identical Investments (Level 1) |
Significant Other Observable Inputs# (Level 2) |
Significant Unobservable Inputs (Level 3) |
Fair Value at February 28, 2018 |
|||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Asset
Table |
||||||||||||||||||
Investments,
at fair value |
||||||||||||||||||
Common
Stock |
||||||||||||||||||
Canada |
$ | 17,739,858 | $ | | $ | | $ | 17,739,858 | ||||||||||
France |
| 87,447,292 | | 87,447,292 | ||||||||||||||
Germany |
| 12,700,620 | | 12,700,620 | ||||||||||||||
Ireland |
9,490,932 | | | 9,490,932 | ||||||||||||||
Italy |
| 30,617,504 | | 30,617,504 | ||||||||||||||
Japan |
| 58,260,811 | | 58,260,811 | ||||||||||||||
Netherlands |
| 18,049,855 | | 18,049,855 | ||||||||||||||
Singapore |
| 10,731,162 | | 10,731,162 | ||||||||||||||
Spain |
| 15,715,942 | | 15,715,942 | ||||||||||||||
Sweden |
| 6,725,079 | | 6,725,079 | ||||||||||||||
Switzerland |
| 42,733,799 | | 42,733,799 | ||||||||||||||
United
Kingdom |
| 69,648,789 | | 69,648,789 | ||||||||||||||
United
States |
349,660,357 | | | 349,660,357 | ||||||||||||||
Total Common
Stock |
376,891,147 | 352,630,853 | | 729,522,000 | ||||||||||||||
Purchased
Options |
| 386,087 | | 386,087 | ||||||||||||||
Short-Term
Investments |
40,306,912 | | | 40,306,912 | ||||||||||||||
Total
Investments, at fair value |
$ | 417,198,059 | $ | 353,016,940 | $ | | $ | 770,214,999 | ||||||||||
Other
Financial Instruments+ |
||||||||||||||||||
Futures |
91,113 | | | 91,113 | ||||||||||||||
Total
Assets |
$ | 417,289,172 | $ | 353,016,940 | $ | | $ | 770,306,112 |
VOYA GLOBAL EQUITY DIVIDEND AND PREMIUM OPPORTUNITY FUND |
SUMMARY PORTFOLIO OF INVESTMENTS AS OF FEBRUARY 28, 2018 (CONTINUED) |
Quoted Prices in Active Markets for Identical Investments (Level 1) |
Significant Other Observable Inputs# (Level 2) |
Significant Unobservable Inputs (Level 3) |
Fair Value at February 28, 2018 | |||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Liabilities
Table |
||||||||||||||||||
Other
Financial Instruments+ |
||||||||||||||||||
Futures |
$ | (1,686,882 | ) | $ | | $ | | $ | (1,686,882 | ) | ||||||||
Written
Options |
| (2,466,230 | ) | | (2,466,230 | ) | ||||||||||||
Total
Liabilities |
$ | (1,686,882 | ) | $ | (2,466,230 | ) | $ | | $ | (4,153,112 | ) |
ˆ |
See Note 2, Significant Accounting Policies in the Notes to Financial Statements for additional information. |
+ |
Other Financial Instruments may include open forward foreign currency contracts, futures, centrally cleared swaps, OTC swaps and written options. Forward foreign currency contracts, futures and centrally cleared swaps are valued at the unrealized gain (loss) on the instrument. OTC swaps and written options are valued at the fair value of the instrument. |
# |
The earlier close of the foreign markets gives rise to the possibility that significant events, including broad market moves, may have occurred in the interim and may materially affect the value of those securities. To account for this, the Fund may frequently value many of its foreign equity securities using fair value prices based on third party vendor modeling tools to the extent available. Accordingly, a portion of the Funds investments are categorized as Level 2 investments. |
Contract Description |
Number of Contracts |
Expiration Date |
Notional Value |
Unrealized Appreciation/ (Depreciation) |
||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Long
Contracts |
||||||||||||||||||
EURO STOXX
50® Index |
580 | 03/16/18 | $ | 24,327,351 | $ | (989,239 | ) | |||||||||||
FTSE 100
Index |
59 | 03/16/18 | 5,869,378 | (29,681 | ) | |||||||||||||
Nikkei 225
Index |
186 | 03/08/18 | 19,267,679 | (667,962 | ) | |||||||||||||
$ | 49,464,408 | $ | (1,686,882 | ) | ||||||||||||||
Short
Contracts |
||||||||||||||||||
S&P 500
E-Mini |
(134 | ) | 03/16/18 | (18,186,480 | ) | 91,113 | ||||||||||||
$ | (18,186,480 | ) | $ | 91,113 |
Description |
Counterparty |
Expiration Date |
Exercise Price |
Notional Amount |
Cost |
Fair Value |
||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Call USD vs. Put
EUR |
BNP Paribas S.A. |
03/20/18 |
1.157 | USD | 15,000,000 | $ | 65,250 | $ | 2,186 | |||||||
Call USD vs. Put
EUR |
BNP Paribas S.A. |
04/20/18 |
1.194 | USD | 10,000,000 | 45,000 | 31,277 | |||||||||
Call USD vs. Put
EUR |
BNP Paribas S.A. |
05/21/18 |
1.202 | USD | 15,000,000 | 66,000 | 89,825 | |||||||||
Call USD vs. Put
GBP |
Societe Generale |
03/20/18 |
1.303 | USD | 25,000,000 | 112,500 | 3,823 | |||||||||
Call USD vs. Put
GBP |
Societe Generale |
04/20/18 |
1.345 | USD | 25,000,000 | 122,500 | 116,567 | |||||||||
Call USD vs. Put
GBP |
Morgan Stanley & Co. International PLC |
05/21/18 |
1.346 | USD | 15,000,000 | 98,250 | 112,122 | |||||||||
Call USD vs. Put
JPY |
Morgan Stanley & Co. International PLC |
03/20/18 |
116.050 | USD | 10,000,000 | 43,000 | 64 | |||||||||
Call USD vs. Put
JPY |
Societe Generale |
04/20/18 |
113.740 | USD | 15,000,000 | 64,500 | 3,386 | |||||||||
Call USD vs. Put
JPY |
Morgan Stanley & Co. International PLC |
05/21/18 |
110.420 | USD | 10,000,000 | 50,000 | 26,837 | |||||||||
$ | 667,000 | $ | 386,087 |
Description |
Counterparty |
Expiration Date |
Exercise Price |
Notional Amount |
Premiums Received |
Fair Value |
||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Put USD vs. Call
EUR |
BNP Paribas S.A. |
03/20/18 |
1.227 | USD | 15,000,000 | $ | 65,250 | $ | (92,273 | ) | ||||||
Put USD vs. Call
EUR |
BNP Paribas S.A. |
04/20/18 |
1.273 | USD | 10,000,000 | 45,000 | (13,635 | ) | ||||||||
Put USD vs. Call
EUR |
BNP Paribas S.A. |
05/21/18 |
1.284 | USD | 15,000,000 | 66,000 | (28,910 | ) | ||||||||
Put USD vs. Call
GBP |
Societe Generale |
03/20/18 |
1.381 | USD | 25,000,000 | 112,500 | (173,915 | ) | ||||||||
Put USD vs. Call
GBP |
Societe Generale |
04/20/18 |
1.436 | USD | 25,000,000 | 122,500 | (47,637 | ) | ||||||||
Put USD vs. Call
GBP |
Morgan Stanley & Co. International PLC |
05/21/18 |
1.449 | USD | 15,000,000 | 98,250 | (39,998 | ) | ||||||||
Put USD vs. Call
JPY |
Morgan Stanley & Co. International PLC |
03/20/18 |
108.850 | USD | 10,000,000 | 43,000 | (228,409 | ) | ||||||||
Put USD vs. Call
JPY |
Societe Generale |
04/20/18 |
105.580 | USD | 15,000,000 | 64,500 | (140,002 | ) | ||||||||
Put USD vs. Call
JPY |
Morgan Stanley & Co. International PLC |
05/21/18 |
101.400 | USD | 10,000,000 | 50,000 | (37,580 | ) | ||||||||
$ | 667,000 | $ | (802,359 | ) |
VOYA GLOBAL EQUITY DIVIDEND AND PREMIUM OPPORTUNITY FUND |
SUMMARY PORTFOLIO OF INVESTMENTS AS OF FEBRUARY 28, 2018 (CONTINUED) |
Description |
Counterparty |
Put/Call |
Expiration Date |
Exercise Price |
Number of Contracts |
Notional Amount |
Premiums Received |
Fair Value |
||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
EURO STOXX
50® Index |
Societe Generale |
Call |
03/02/18 |
3,673.370 | EUR | 2,700 | 9,285,192 | $ | 118,783 | $ | (4 | ) | ||||||||
EURO STOXX
50® Index |
BNP Paribas S.A. |
Call |
03/16/18 |
3,564.284 | EUR | 2,700 | 9,285,192 | 164,281 | (29,276 | ) | ||||||||||
EURO STOXX
50® Index |
Societe Generale |
Call |
04/06/18 |
3,456.675 | EUR | 3,200 | 11,004,672 | 188,400 | (215,308 | ) | ||||||||||
FTSE 100
Index |
Societe Generale |
Call |
03/02/18 |
7,739.670 | GBP | 2,300 | 16,633,393 | 185,926 | | |||||||||||
FTSE 100
Index |
Societe Generale |
Call |
03/16/18 |
7,458.042 | GBP | 2,300 | 16,633,393 | 247,019 | (26,089 | ) | ||||||||||
FTSE 100
Index |
Societe Generale |
Call |
04/06/18 |
7,308.660 | GBP | 2,000 | 14,463,820 | 241,868 | (156,270 | ) | ||||||||||
Nikkei 225
Index |
Morgan Stanley & Co. International PLC |
Call |
03/02/18 |
24,133.200 | JPY | 56,900 | 1,255,682,856 | 152,812 | | |||||||||||
Nikkei 225
Index |
BNP Paribas S.A. |
Call |
03/16/18 |
23,573.375 | JPY | 57,200 | 1,262,303,328 | 177,708 | (8,283 | ) | ||||||||||
Nikkei 225
Index |
BNP Paribas S.A. |
Call |
04/06/18 |
22,046.420 | JPY | 55,700 | 1,229,200,968 | 200,877 | (231,930 | ) | ||||||||||
S&P 500®
Index |
Societe Generale |
Call |
03/02/18 |
2,829.000 | USD | 31,300 | 84,942,879 | 760,590 | (27 | ) | ||||||||||
S&P 500®
Index |
Societe Generale |
Call |
03/16/18 |
2,788.610 | USD | 31,000 | 84,128,730 | 890,165 | (218,162 | ) | ||||||||||
S&P 500®
Index |
Societe Generale |
Call |
04/06/18 |
2,769.995 | USD | 31,400 | 85,214,262 | 1,093,660 | (778,522 | ) | ||||||||||
$ | 4,422,089 | $ | (1,663,871 | ) |
Derivatives not accounted for as hedging instruments |
Location on Statement of Assets and Liabilities |
Fair Value |
||||||
---|---|---|---|---|---|---|---|---|
Asset
Derivatives |
||||||||
Foreign exchange
contracts |
Investments in securities at value* |
$ | 386,087 | |||||
Equity
contracts |
Net Assets Unrealized appreciation** |
91,113 | ||||||
Total Asset
Derivatives |
$ | 477,200 | ||||||
Liability
Derivatives |
||||||||
Equity
contracts |
Net Assets Unrealized depreciation** |
$ | 1,686,882 | |||||
Equity
Contracts |
Written options, at fair value |
1,663,871 | ||||||
Foreign exchange
contracts |
Written options, at fair value |
802,359 | ||||||
Total Liability
Derivatives |
$ | 4,153,112 |
* |
Includes purchased options. |
** |
Includes cumulative appreciation/depreciation of futures contracts as reported in the table following the Portfolio of Investments. |
Amount of
Realized Gain or (Loss) on Derivatives Recognized in Income |
|||||||||||||||||||||
Derivatives not accounted
for as hedging instruments |
Investments* |
Forward foreign currency contracts |
Futures |
Written options |
Total |
||||||||||||||||
Equity
contracts |
$ | | $ | | $ | 8,028,742 | $ | (23,204,449 | ) | (15,175,707) |
|||||||||||
Foreign exchange
contracts |
(3,218,473 | ) | 30,110 | | (752,253 | ) | (3,940,616) |
||||||||||||||
Total |
$ | (3,218,473 | ) | $ | 30,110 | $ | 8,028,742 | $ | (23,956,702 | ) | $ | (19,116,323) |
VOYA GLOBAL EQUITY DIVIDEND AND PREMIUM OPPORTUNITY FUND |
SUMMARY PORTFOLIO OF INVESTMENTS AS OF FEBRUARY 28, 2018 (CONTINUED) |
Change in
Unrealized Appreciation or (Depreciation) on Derivatives Recognized in Income |
||||||||||||||||||
Derivatives not accounted for as hedging instruments |
Investments* |
Futures |
Written options |
Total |
||||||||||||||
Equity
contracts |
$ | | $ | (1,904,773 | ) | $ | 4,450,249 | $ | 2,545,476 | |||||||||
Foreign exchange
contracts |
$ | 137,431 | | (351,368 | ) | (213,937 | ) | |||||||||||
Total |
$ | 137,431 | $ | (1,904,773 | ) | $ | 4,098,881 | $ | 2,331,539 |
* |
Amounts recognized for purchased options are included in net realized gain (loss) on investments and net change in unrealized appreciation or depreciation on investments. |
BNP Paribas S.A. |
Morgan Stanley & Co. International PLC |
Societe Generale |
Totals | ||||||||||||||||||
Assets: |
|||||||||||||||||||||
Purchased
options |
$ | 123,288 | $ | 139,023 | $ | 123,776 | $ | 386,087 | |||||||||||||
Total
Assets |
$ | 123,288 | $ | 139,023 | $ | 123,776 | $ | 386,087 | |||||||||||||
Liabilities: |
|||||||||||||||||||||
Written
options |
$ | 404,307 | $ | 305,987 | $ | 1,755,936 | $ | 2,466,230 | |||||||||||||
Total
Liabilities |
$ | 404,307 | $ | 305,987 | $ | 1,755,936 | $ | 2,466,230 | |||||||||||||
Net OTC
derivative instruments by counterparty, at fair value |
$ | (281,019 | ) | $ | (166,964 | ) | $ | (1,632,160 | ) | $ | (2,080,143 | ) | |||||||||
Total
collateral pledged by the Fund/(Received from counterparty) |
$ | 281,019 | $ | 166,964 | $ | 1,632,160 | $ | 2,080,143 | |||||||||||||
Net
Exposure(1)(2) |
$ | | $ | | $ | | $ | |
(1) |
Positive net exposure represents amounts due from each respective counterparty. Negative exposure represents amounts due from the Fund. Please refer to Note 2 for additional details regarding counterparty credit risk and credit related contingent features. |
(2) |
At February 28, 2018, the Fund had pledged $410,000, $410,000 and $2,630,000 to BNP Paribas S.A., Morgan Stanley & Co. International PLC and Societe Generale, respectively. Excess cash collateral is not shown for financial reporting purposes. |
Cost for federal income tax purposes was $776,856,986. | ||||||
Net unrealized
depreciation consisted of: |
||||||
Gross
Unrealized Appreciation |
$ | 86,205,839 | ||||
Gross
Unrealized Depreciation |
(93,496,393 | ) | ||||
Net Unrealized
Depreciation |
$ | (7,290,554 | ) |
Indices |
||||||
% of Total Net
Assets against which calls written |
50.04 | % | ||||
Average Days to
Expiration at time written |
44 days | |||||
Average Call
Moneyness* at time written |
OTM/ATM | |||||
Premiums received
for calls |
$ | 4,422,089 | ||||
Value of
calls |
$ | (1,663,871 | ) | |||
Currencies |
||||||
% of Total Net
Assets against which calls/puts written |
17.42 | % | ||||
Average Days to
Expiration at time written |
90 days | |||||
Average Call
Moneyness* at time written |
OTM | |||||
Premiums received
for calls |
$ | 667,000 | ||||
Value of
calls |
$ | (802,359 | ) |
VOYA GLOBAL EQUITY DIVIDEND AND PREMIUM OPPORTUNITY FUND |
SUMMARY PORTFOLIO OF INVESTMENTS AS OF FEBRUARY 28, 2018 (CONTINUED) |
Supplemental Put
Option Statistics as of February 28, 2018: |
||||||
Currency |
||||||
% of Total Net
Assets against which Currency calls/puts purchased |
17.42 | % | ||||
Average Days to
Expiration at time purchased |
90 days | |||||
Average Currency
Put Moneyness* at time purchased |
OTM | |||||
Premiums Paid for
puts |
$ | 667,000 | ||||
Value of
puts |
$ | (386,087 | ) |
* |
Moneyness is the term used to describe the relationship between the price of the underlying asset and the options exercise or strike price. For example, a call (buy) option is considered in-the-money when the value of the underlying asset exceeds the strike price. Conversely, a put (sell) option is considered in-the-money when its strike price exceeds the value of the underlying asset. Options are characterized for the purpose of Moneyness as, in-the-money (ITM), out-of-the-money (OTM) or at-the-money (ATM), where the underlying asset value equals the strike price. |
Fund Name |
Type |
Per Share Amount |
|||||||
---|---|---|---|---|---|---|---|---|---|
Voya Global
Equity Dividend and Premium Opportunity Fund |
NII |
$0.3240 | |||||||
ROC |
$0.4080 |
Creditable Foreign Taxes Paid |
Per Share Amount |
Portion of Ordinary Income Distribution Derived from Foreign Sourced Income* |
||||
---|---|---|---|---|---|---|
$
807,818 |
$
0.0083 |
63.11% |
* |
None of the Funds income was derived from ineligible foreign sources as defined under Section 901(j) of the Internal Revenue Code. |
1 |
At this meeting, a proposal was submitted to elect four members of the Board of Trustees to represent the interests of the holders of the Fund, with all four individuals to serve as Class III Trustees, for a term of three-years, and until the election and qualification of their successors. |
Proposal |
Shares voted for |
Shares voted against or withheld |
Shares abstained |
Broker non-vote |
Total Shares Voted |
||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Class III
Trustees |
Voya Global
Equity Dividend and Premium Opportunity Fund |
||||||||||||||
Martin J.
Gavin |
1* | 80,315,055.111 | 3,225,436.720 | 0.000 | 0.000 | 83,540,491.831 | |||||||||
Patrick W.
Kenny |
1* | 65,007,129.111 | 18,533,362.720 | 0.000 | 0.000 | 83,540,491.831 | |||||||||
Shaun P.
Mathews |
1* | 65,209,608.111 | 18,330,883.720 | 0.000 | 0.000 | 83,540,491.831 | |||||||||
Roger B.
Vincent |
1* | 80,259,717.111 | 3,280,774.720 | 0.000 | 0.000 | 83,540,491.831 |
* |
Proposal Passed |
** |
Effective December 31, 2017, Peter S. Drotch retired as a Trustee of the Board. |
Name, Address and Age |
Position(s) Held with the Trust |
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 Trustee(2) |
Other Board Positions Held by Trustee |
|||||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Independent Trustees: |
||||||||||||||||||||||
Colleen D.
Baldwin 7337 East Doubletree Ranch Rd. Suite 100 Scottsdale, Arizona 85258 Age: 57 |
Trustee |
October 2007Present |
President, Glantuam Partners, LLC, a business consulting firm (January 2009Present). |
151 |
DSM/Dentaquest, Boston, MA (February 2014Present). |
|||||||||||||||||
John V.
Boyer 7337 East Doubletree Ranch Rd. Suite 100 Scottsdale, Arizona 85258 Age: 64 |
Chairperson Trustee |
January 2014Present February 2005Present |
President and Chief Executive Officer, Bechtler Arts Foundation, an arts and education foundation (January
2008Present). |
151 |
None. |
|||||||||||||||||
Patricia W.
Chadwick 7337 East Doubletree Ranch Rd. Suite 100 Scottsdale, Arizona 85258 Age: 69 |
Trustee |
January 2006Present |
Consultant and President, Ravengate Partners LLC, a consulting firm that provides advice regarding financial markets and the global economy
(January 2000Present). |
151 |
Wisconsin Energy Corporation (June 2006Present); The Royce Funds (23 funds) (December 2009Present); and AMICA Mutual Insurance
Company (1992Present). |
|||||||||||||||||
Martin J.
Gavin 7337 East Doubletree Ranch Rd. Suite 100 Scottsdale, AZ 85258 Age: 68 |
Trustee |
August 2015Present |
Retired. Formerly, President and Chief Executive Officer, Connecticut Childrens Medical Center (May 2006November
2015). |
151 |
None. |
|||||||||||||||||
Russell H.
Jones 7337 East Doubletree Ranch Rd. Suite 100 Scottsdale, Arizona 85258 Age: 73 |
Trustee |
May 2013Present |
Retired. |
151 |
None. |
|||||||||||||||||
Patrick W.
Kenny 7337 East Doubletree Ranch Rd. Suite 100 Scottsdale, Arizona 85258 Age: 75 |
Trustee |
February 2005Present |
Retired. |
151 |
Assured Guaranty Ltd. (April 2004Present). |
|||||||||||||||||
Joseph E.
Obermeyer 7337 East Doubletree Ranch Rd. Suite 100 Scottsdale, Arizona 85258 Age: 60 |
Trustee |
May 2013Present |
President, Obermeyer & Associates, Inc., a provider of financial and economic consulting services (November 1999Present). |
151 |
None. |
|||||||||||||||||
Sheryl K.
Pressler 7337 East Doubletree Ranch Rd. Suite 100 Scottsdale, Arizona 85258 Age: 67 |
Trustee |
January 2006Present |
Consultant (May 2001Present). |
151 |
None. |
|||||||||||||||||
Christopher
P. Sullivan 7337 East Doubletree Ranch Rd. Suite 100 Scottsdale, Arizona 85258 Age: 64 |
Trustee |
October 2015Present |
Retired. |
151 |
None. |
|||||||||||||||||
Roger B.
Vincent 7337 East Doubletree Ranch Rd. Suite 100 Scottsdale, Arizona 85258 Age: 72 |
Trustee |
February 2005Present |
Retired. |
151 |
None. |
Name, Address and Age |
Position(s) Held with the Trust |
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 Trustee(2) |
Other Board Positions Held by Trustee | |||||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Trustee who is an interested person: |
||||||||||||||||||||||
Shaun P.
Mathews (3) 7337 East Doubletree Ranch Rd. Suite 100 Scottsdale, Arizona 85258 Age: 62 |
Trustee |
June 2006Present |
Senior
Managing Director, Head of the Client Group, Voya Investment Management (March 2006April 2018). President and Chief Executive Officer, Voya
Investments, LLC (December 2006March 2018). |
151 |
None. |
(1) |
Trustees serve until their successors are duly elected and qualified. The tenure of each Trustee who is not an interested person as defined in the 1940 Act, of each Fund (Independent Trustee) is subject to the Boards retirement policy which states that each duly elected or appointed Independent Trustee shall retire from and cease to be a member of the Board of Trustees at the close of business on December 31 of the calendar year in which the Independent Trustee attains the age of 75. A majority vote of the Boards other Independent Trustees may extend the retirement date of an Independent Trustee if the retirement would trigger a requirement to hold a meeting of shareholders of the Trust under applicable law, whether for the purposes of appointing a successor to the Independent Trustee 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 Trustees). |
(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 March 31, 2018. |
(2) |
Mr. Mathews is deemed to be an interested person of the Trust 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 Trust |
Term of Office and Length of Time Served(1) |
Principal Occupation(s) During the Past 5 Years |
|||||
---|---|---|---|---|---|---|---|---|
Michael Bell One Orange Way Windsor, Connecticut 06095 Age: 49 |
Chief Executive
Officer |
March
2018Present |
Chief
Executive Officer, Voya Investments, LLC (March 2018Present); Chief Financial Officer, Voya Investment Management (September 2014Present).
Formerly, Senior Vice President, Chief Financial Officer and Treasurer, Voya Investments, LLC (November 2015March 2018); Chief Financial Officer
and Chief Accounting Officer, Hartford Investment Management (September 2003September 2014). |
|||||
Dina Santoro 230 Park Avenue New York, New York 10169 Age: 44 |
President |
March
2018Present |
President, Voya Investments, LLC (March 2018Present); Managing Director, Head of Product and Marketing Strategy, Voya Investment
Management (September 2017Present). Formerly, Managing Director, Quantitative Management Associates, LLC (January 2004August
2017). |
|||||
Stanley D.
Vyner 230 Park Avenue New York, New York 10169 Age: 67 |
Executive Vice
President Chief Investment Risk Officer |
January
2005Present September 2009Present |
Executive Vice President, Voya Investments, LLC (July 2000Present) and Chief Investment Risk Officer, Voya Investments, LLC (January
2003Present). |
|||||
Jim Fink 5780 Powers Ferry Road NW Atlanta, Georgia 30327 Age: 60 |
Executive Vice
President |
March
2018Present |
Managing Director, Voya Investments, LLC (March 2018Present); Chief Administrative Officer, Voya Investment Management (September
2017Present). Formerly, Managing Director, Operations, Voya Investment Management (March 1999September 2017). |
|||||
Kevin M.
Gleason 7337 East Doubletree Ranch Rd. Suite 100 Scottsdale, Arizona 85258 Age: 51 |
Chief Compliance
Officer |
February
2012Present |
Senior
Vice President, Voya Investment Management and Chief Compliance Officer, Voya Family of Funds (February 2012Present). |
|||||
Todd Modic 7337 East Doubletree Ranch Rd. Suite 100 Scottsdale, Arizona 85258 Age: 50 |
Senior Vice
President, Chief/Principal Financial Officer and Assistant Secretary |
May
2005Present |
Senior
Vice President, Voya Investments, LLC and Voya Funds Services, LLC (April 2005Present). |
|||||
Kimberly A.
Anderson 7337 East Doubletree Ranch Rd. Suite 100 Scottsdale, Arizona 85258 Age: 53 |
Senior Vice
President |
January
2005Present |
Senior
Vice President, Voya Investments, LLC (September 2003Present). |
|||||
Robert Terris 5780 Powers Ferry Road NW Atlanta, Georgia 30327 Age: 47 |
Senior Vice
President |
May
2006Present |
Senior
Vice President, Head of Division Operations, Voya Investments, LLC (October 2015Present) and Voya Funds Services, LLC (March
2006Present). |
|||||
Fred Bedoya 7337 East Doubletree Ranch Rd. Suite 100 Scottsdale, Arizona 85258 Age: 45 |
Vice President and
Treasurer |
September
2012Present |
Vice
President, Voya Investments, LLC (October 2015Present) and Voya Funds Services, LLC (July 2012Present). |
|||||
Maria M.
Anderson 7337 East Doubletree Ranch Rd. Suite 100 Scottsdale, Arizona 85258 Age: 59 |
Vice
President |
January
2005Present |
Vice
President, Voya Investments, LLC (October 2015Present) and Voya Funds Services, LLC (September 2004Present). |
Name, Address and Age |
Position(s) Held With the Trust |
Term of Office and Length of Time Served(1) |
Principal Occupation(s) During the Past 5 Years | |||||
---|---|---|---|---|---|---|---|---|
Lauren D. Bensinger 7337 East Doubletree Ranch Rd. Suite 100 Scottsdale, Arizona 85258 Age: 64 |
Vice
President |
January
2005Present |
Vice
President, Voya Funds Services, LLC (February 1996Present) and Voya Investments, LLC (October 2004Present); Vice President and Anti-Money
Laundering Officer, Voya Investments Distributor, LLC (April 2010Present). Anti-Money Laundering Compliance Officer, Voya Financial, Inc.
(January 2013 Present); and Anti-Money Laundering Officer, Voya Investment Management Trust Co. (October 2012Present). |
|||||
Sara M.
Donaldson 7337 East Doubletree Ranch Rd. Suite 100 Scottsdale, Arizona 85258 Age: 58 |
Vice
President |
September
2014Present |
Vice
President, Voya Investments, LLC (October 2015Present). Formerly, Vice President, Voya Funds Services, LLC (April 2014October 2015).
Formerly, Director, Compliance, AXA Rosenberg Global Services, LLC (September 1997March 2014). |
|||||
Micheline S.
Faver 7337 East Doubletree Ranch Rd. Suite 100 Scottsdale, Arizona 85258 Age: 40 |
Vice
President |
September
2016Present |
Vice
President, Head of Fund Compliance and Chief Compliance Officer, Voya Investments, LLC (June 2016Present). Formerly, Chief Compliance Officer,
Directed Services LLC (June 2016December 2017); Vice President, Mutual Fund Compliance (March 2014June 2016); Assistant Vice President,
Mutual Fund Compliance (May 2013March 2014); Assistant Vice President, Senior Project Manager (May 2008May 2013). |
|||||
Robyn L.
Ichilov 7337 East Doubletree Ranch Rd. Suite 100 Scottsdale, Arizona 85258 Age: 50 |
Vice
President |
January
2005Present |
Vice
President, Voya Funds Services, LLC (November 1995Present) and Voya Investments, LLC (August 1997Present). |
|||||
Jason Kadavy 7337 East Doubletree Ranch Rd. Suite 100 Scottsdale, Arizona 85258 Age: 42 |
Vice
President |
September
2012Present |
Vice
President, Voya Investments, LLC (October 2015Present) and Voya Funds Services, LLC (July 2007Present). |
|||||
Andrew K.
Schlueter 7337 East Doubletree Ranch Rd. Suite 100 Scottsdale, Arizona 85258 Age: 42 |
Vice
President |
March
2018Present |
Vice
President, Voya Investments, LLC (March 2018-Present); Vice President, Head of Mutual Fund Operations, Voya Investment Management (February
2018Present). Formerly, Vice President, Voya Investment Management (March 2014February 2018); Assistant Vice President, Voya Investment
Management (March 2011March 2014). |
|||||
Kimberly K.
Springer 7337 East Doubletree Ranch Rd. Suite 100 Scottsdale, Arizona 85258 Age: 60 |
Vice
President |
May
2008Present |
Vice
PresidentMutual Fund Product Development, Voya Investments, LLC (July 2012Present); Vice President, Voya Family of Funds (March 2010Present) and Vice President, Voya Funds Services, LLC (March 2006Present). |
|||||
Craig Wheeler 7337 East Doubletree Ranch Rd. Suite 100 Scottsdale, Arizona 85258 Age: 49 |
Vice
President |
May
2013Present |
Vice
PresidentDirector of Tax, Voya Investments, LLC (October 2015Present). Formerly, Vice PresidentDirector of Tax, Voya Funds Services,
LLC (March 2013October 2015). Formerly, Assistant Vice PresidentDirector of Tax, Voya Funds Services, LLC (March 2008February
2013). |
|||||
Huey P. Falgout,
Jr. 7337 East Doubletree Ranch Rd. Suite 100 Scottsdale, Arizona 85258 Age: 54 |
Secretary |
January
2005Present |
Senior
Vice President and Chief Counsel, Voya Investment ManagementMutual Fund Legal Department (March 2010Present). |
Name, Address and Age |
Position(s) Held With the Trust |
Term of Office and Length of Time Served(1) |
Principal Occupation(s) During the Past 5 Years | |||||
---|---|---|---|---|---|---|---|---|
Paul A. Caldarelli 7337 East Doubletree Ranch Rd. Suite 100 Scottsdale, Arizona 85258 Age: 66 |
Assistant
Secretary |
June
2010Present |
Vice
President and Senior Counsel, Voya Investment ManagementMutual Fund Legal Department (March 2010Present). |
|||||
Theresa K.
Kelety 7337 East Doubletree Ranch Rd. Suite 100 Scottsdale, Arizona 85258 Age: 55 |
Assistant
Secretary |
January
2005Present |
Vice
President and Senior Counsel, Voya Investment ManagementMutual Fund Legal Department (March 2010Present). |
(1) |
The Officers hold office until the next annual meeting of the Board of Trustees and until their successors shall have been elected and qualified. |
Declaration Date |
Ex Date |
Record Date |
Payable Date |
|||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
16-Jan-18 | 1-Feb-18 | 2-Feb-18 | 15-Feb-18 | |||||||||||
15-Feb-18 | 1-Mar-18 | 2-Mar-18 | 15-Mar-18 | |||||||||||
15-Mar-18 | 2-Apr-18 | 3-Apr-18 | 16-Apr-18 | |||||||||||
16-Apr-18 | 1-May-18 | 2-May-18 | 15-May-18 | |||||||||||
15-May-18 | 1-Jun-18 | 4-Jun-18 | 15-Jun-18 | |||||||||||
15-Jun-18 | 2-Jul-18 | 3-Jul-18 | 16-Jul-18 | |||||||||||
16-Jul-18 | 1-Aug-18 | 2-Aug-18 | 15-Aug-18 | |||||||||||
15-Aug-18 | 4-Sep-18 | 5-Sep-18 | 17-Sep-18 | |||||||||||
17-Sep-18 | 1-Oct-18 | 2-Oct-18 | 15-Oct-18 | |||||||||||
15-Oct-18 | 1-Nov-18 | 2-Nov-18 | 15-Nov-18 | |||||||||||
15-Nov-18 | 3-Dec-18 | 4-Dec-18 | 17-Dec-18 | |||||||||||
17-Dec-18 | 28-Dec-18 | 31-Dec-18 | 15-Jan-19 |
RETIREMENT | INVESTMENTS | INSURANCE voyainvestments.com |
163065 (0218-042318) |
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 Trustees has determined that Colleen D. Baldwin, 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. 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 $29,565 for the year ended February 28, 2018 and $29,565 for the year ended February 28, 2017. |
(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 $2,700 for the year ended February 28, 2018 and $2,525 for the year ended February 28, 2017. |
(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 $12,445 for the year ended February 28, 2018 and $11,660 for the year ended February 28, 2017. 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 February 28, 2018 and $0 for the year ended February 28, 2017. |
(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 16, 2017
Appendix A
Pre-Approved Audit Services for the Pre-Approval Period January 1, 2018 through December 31, 2018
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 $14,750 per audit |
Audit of summary portfolio of investments | √ | Not to exceed $565 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, 2018 through December 31, 2018
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 $2,700 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, 2018 through December 31, 2018
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 | |
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 |
Appendix C, continued
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. |
Pre-Approved Tax Services for the Pre-Approval Period January 1, 2018 through December 31, 2018
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, year-end reporting for 1099’s and similar routine tax consultations as requested. | √ | Not to exceed $120,000 during the Pre-Approval Period |
Appendix D
Pre-Approved Other Services for the Pre-Approval Period January 1, 2018 through December 31, 2018
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 $5,700 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, 2018 to December 31, 2018
· | 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 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 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, February 28, 2018 and February 28, 2017; 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 | 2018 | 2017 | ||||||
Voya Global Equity Dividend and Premium Opportunity Fund | $ | 15,145 | $ | 14,185 | ||||
Voya Investments, LLC (1) | $ | 136,700 | $ | 101,050 |
(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.
a. | The registrant has a separately-designated standing audit committee. The members are Colleen D. Baldwin, Martin J. Gavin, Patrick W. Kenny, Joseph E. Obermeyer, and Roger B. Vincent. |
b. | Not applicable. |
Item 6. Schedule of Investments.
Complete schedule of investments filed herein.
Report of Independent Registered Public Accounting Firm
To the Shareholders and Board of Trustees
Voya Global Equity Dividend and Premium Opportunity Fund
Opinion on the Financial Statements
We have audited the accompanying statement of assets and liabilities of Voya Global Equity Dividend and Premium Opportunity Fund (the “Fund”), including the summary portfolio of investments, as of February 28, 2018, the related statement of operations for the year then ended, the statements of changes in net assets for each of the years in the two-year period then ended and the related notes (collectively, the "financial statements"), the financial highlights for each of the years in the ten-year period then ended (the financial statements and financial highlights are included in Item 1 of this Form N-CSR), and the portfolio of investments as of February 28, 2018 (included in Item 6 of this Form N-CSR). In our opinion, the financial statements, financial highlights, and portfolio of investments referred to above present fairly, in all material respects, the financial position of the Fund as of February 28, 2018, the results of its operations for the year then ended, the changes in its net assets for each of the years in the two-year period then ended, and the financial highlights for each of the years in the ten-year period then ended, in conformity with U.S. generally accepted accounting principles.
Basis for Opinion
These financial statements, financial highlights, and portfolio of investments are the responsibility of the Fund’s management. Our responsibility is to express an opinion on these financial statements, financial highlights, and portfolio of investments based on our audits. We are a public accounting firm registered with the Public Company Accounting Oversight Board (United States) (“PCAOB”) and are required to be independent with respect to the Fund in accordance with the U.S. federal securities laws and the applicable rules and regulations of the Securities and Exchange Commission and the PCAOB.
We conducted our audits in accordance with the standards of the PCAOB. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements, financial highlights, and portfolio of investments are free of material misstatement, whether due to error or fraud. Our audits included performing procedures to assess the risks of material misstatement of the financial statements, financial highlights, and portfolio of investments, whether due to error or fraud, and performing procedures that respond to those risks. Such procedures included examining, on a test basis, evidence regarding the amounts and disclosures in the financial statements, financial highlights, and portfolio of investments. Such procedures also included confirmation of securities owned as of February 28, 2018, by correspondence with the custodian and brokers or by other appropriate auditing procedures when replies from brokers were not received. Our audits also included evaluating the accounting principles used and significant estimates made by management, as well as evaluating the overall financial statement presentation. We believe that our audits provide a reasonable basis for our opinion.
We have served as the auditor of one or more Voya investment companies since 1975.
Boston, Massachusetts
April 24, 2018
Voya Global Equity Dividend and Premium Opportunity Fund | PORTFOLIO
OF INVESTMENTS as of February 28, 2018 |
Shares | Value | Percentage of Net Assets | ||||||||||||
COMMON STOCK: 93.6% | ||||||||||||||
Canada: 2.3% | ||||||||||||||
73,547 | Canadian Imperial Bank of Commerce - XTSE | 6,717,354 | 0.9 | |||||||||||
425,114 | Shaw Communications, Inc. - Class B | 8,229,295 | 1.0 | |||||||||||
64,581 | TransCanada Corp. | 2,793,209 | 0.4 | |||||||||||
17,739,858 | 2.3 | |||||||||||||
France: 11.2% | ||||||||||||||
156,793 | BNP Paribas | 12,397,737 | 1.6 | |||||||||||
170,194 | Casino Guichard Perrachon S.A. | 9,219,446 | 1.2 | |||||||||||
281,231 | Cie de Saint-Gobain | 15,917,386 | 2.0 | |||||||||||
773,190 | Engie SA | 12,058,981 | 1.5 | |||||||||||
400,300 | Orange SA | 6,772,350 | 0.9 | |||||||||||
110,797 | Sanofi | 8,747,433 | 1.1 | |||||||||||
221,100 | Total SA | 12,575,929 | 1.6 | |||||||||||
98,825 | Vinci SA | 9,758,030 | 1.3 | |||||||||||
87,447,292 | 11.2 | |||||||||||||
Germany: 1.6% | ||||||||||||||
76,800 | Daimler AG | 6,557,711 | 0.8 | |||||||||||
385,367 | Deutsche Bank AG | 6,142,909 | 0.8 | |||||||||||
12,700,620 | 1.6 | |||||||||||||
Ireland: 1.2% | ||||||||||||||
118,800 | Medtronic PLC | 9,490,932 | 1.2 | |||||||||||
Italy: 3.9% | ||||||||||||||
658,561 | Assicurazioni Generali S.p.A. | 12,319,948 | 1.6 | |||||||||||
362,887 | ENI S.p.A. | 6,025,708 | 0.7 | |||||||||||
581,887 | (1) | UniCredit SpA | 12,271,848 | 1.6 | ||||||||||
30,617,504 | 3.9 | |||||||||||||
Japan: 7.5% | ||||||||||||||
103,700 | Canon, Inc. | 3,951,885 | 0.5 | |||||||||||
173,700 | Japan Airlines Co. Ltd. | 6,620,085 | 0.9 | |||||||||||
197,500 | Japan Tobacco, Inc. | 5,604,482 | 0.7 | |||||||||||
1,773,000 | Mitsubishi UFJ Financial Group, Inc. | 12,488,384 | 1.6 | |||||||||||
46,400 | Murata Manufacturing Co., Ltd. | 6,462,762 | 0.8 | |||||||||||
968,800 | Nissan Motor Co., Ltd. | 10,153,749 | 1.3 | |||||||||||
300,300 | Sumitomo Mitsui Financial Group, Inc. | 12,979,464 | 1.7 | |||||||||||
58,260,811 | 7.5 | |||||||||||||
Netherlands: 2.3% | ||||||||||||||
179,444 | (1) | ArcelorMittal | 6,093,003 | 0.8 | ||||||||||
376,867 | Royal Dutch Shell PLC | 11,956,852 | 1.5 | |||||||||||
18,049,855 | 2.3 | |||||||||||||
Singapore: 1.4% | ||||||||||||||
2,418,800 | Singapore Telecommunications Ltd. | 6,139,596 | 0.8 | |||||||||||
219,200 | United Overseas Bank Ltd. | 4,591,566 | 0.6 | |||||||||||
10,731,162 | 1.4 | |||||||||||||