UNITED STATES
SECURITIES AND CHANGE 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 E. Doubletree Ranch Rd. 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 29, 2016 |
Item 1. | Reports to Stockholders. |
The following is a copy of the report transmitted to stockholders pursuant to Rule 30e-1 under the Act (17 CFR 270.30e-1):
This report is 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 |
21 | |||||
Tax
Information |
26 | |||||
Shareholder
Meeting Information |
27 | |||||
Trustee and
Officer Information |
28 | |||||
Advisory Contract
Approval Discussion |
32 | |||||
Additional
Information |
36 |
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You will be notified by e-mail when these communications become available on the internet. Documents that are not available on the internet will continue to be sent by mail. |
* |
The final tax composition of dividends and distributions will not be determined until after the Funds tax year-end. |
(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 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. |
Index | Description | |||||
---|---|---|---|---|---|---|
Barclays High
Yield Bond 2% Issuer Constrained Composite Index |
An
unmanaged 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. |
|||||
Barclays U.S.
Aggregate Bond Index |
An
unmanaged index of publicly issued investment grade U.S. Government, mortgage-backed, asset-backed and corporate debt securities. |
|||||
Barclays U.S.
Corporate Investment Grade Bond Index |
An
unmanaged index consisting of publicly issued, fixed rate, nonconvertible, investment grade debt securities. |
|||||
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. |
|||||
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
unmanaged 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. |
|||||
S&P 500®
Index |
An
unmanaged index that measures the performance of securities of approximately 500 large-capitalization companies whose securities are traded on major
U.S. stock markets. |
|||||
Shanghai Stock
Exchange Composite Index |
A
capitalization-weighted index. The index tracks the daily price performance of all A-shares and B-shares listed on the Shanghai Stock Exchange. The
index was developed on December 19, 1990 with a base value of 100. |
VOYA GLOBAL
EQUITY DIVIDEND AND PREMIUM OPPORTUNITY FUND |
PORTFOLIO MANAGERS REPORT |
Geographic Diversification as of February 29, 2016 (as a percentage of net assets) |
|||||||
United
States |
46.0 | % | |||||
France |
10.4 | % | |||||
United
Kingdom |
9.9 | % | |||||
Japan |
7.5 | % | |||||
Switzerland |
5.1 | % | |||||
Canada |
3.6 | % | |||||
Italy |
3.2 | % | |||||
Netherlands |
2.8 | % | |||||
Sweden |
1.8 | % | |||||
Taiwan |
1.7 | % | |||||
Countries
between 0.4%1.4%ˆ |
4.1 | % | |||||
Assets in
Excess of Other Liabilities* |
3.9 | % | |||||
Net
Assets |
100.0 | % | |||||
* Includes purchased options. |
|||||||
ˆ Includes 4 countries, which each represents 0.4%1.4% of net assets. |
|||||||
Portfolio holdings are subject to change daily. |
Top Ten Holdings as of February 29, 2016 (as a percentage of net assets) |
|||||||
Royal
Dutch Shell PLC |
2.2 | % | |||||
Pfizer,
Inc. |
2.0 | % | |||||
BNP
Paribas |
1.8 | % | |||||
Citigroup, Inc. |
1.7 | % | |||||
Cisco
Systems, Inc. |
1.7 | % | |||||
Total
S.A. |
1.7 | % | |||||
General
Electric Co. |
1.6 | % | |||||
Vodafone
Group PLC |
1.6 | % | |||||
Microsoft
Corp. |
1.6 | % | |||||
ADT
Corp. |
1.6 | % | |||||
Portfolio holdings are subject to change daily. |
PORTFOLIO MANAGERS REPORT | VOYA GLOBAL
EQUITY DIVIDEND AND PREMIUM OPPORTUNITY FUND |
* |
Prior to April 7, 2015, NNIP Advisors B.V. was known as ING Investment Management Advisors B.V. |
(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) |
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* |
$ | 707,021,478 | ||||||
Cash |
16,262,265 | |||||||
Cash collateral
for futures |
102,716 | |||||||
Foreign
currencies at value** |
8,509,954 | |||||||
Foreign cash
collateral for futures*** |
2,746,229 | |||||||
Receivables: |
||||||||
Investment
securities sold |
2,934,006 | |||||||
Dividends |
2,262,809 | |||||||
Foreign
currency settlement (Note 11) |
5,088,027 | |||||||
Foreign tax
reclaims |
842,391 | |||||||
Prepaid
expenses |
2,800 | |||||||
Other
assets |
28,150 | |||||||
Total
assets |
745,800,825 | |||||||
LIABILITIES: |
||||||||
Payable for
investment securities purchased |
3,075,429 | |||||||
Payable for
investment management fees |
660,623 | |||||||
Payable to
trustees under the deferred compensation plan (Note 6) |
28,150 | |||||||
Payable for
trustee fees |
4,190 | |||||||
Other accrued
expenses and liabilities |
166,604 | |||||||
Written options,
at fair valueˆ |
8,136,906 | |||||||
Total
liabilities |
12,071,902 | |||||||
NET
ASSETS |
$ | 733,728,923 | ||||||
NET ASSETS
WERE COMPRISED OF: |
||||||||
Paid-in
capital |
$ | 1,135,660,613 | ||||||
Distributions in
excess of net investment income |
(1,231,791 | ) | ||||||
Accumulated net
realized loss |
(267,702,672 | ) | ||||||
Net unrealized
depreciation |
(132,997,227 | ) | ||||||
NET
ASSETS |
$ | 733,728,923 | ||||||
* | Cost of
investments in securities |
$ | 839,508,837 | |||||
** | Cost of
foreign currencies |
$ | 8,972,908 | |||||
*** | Cost of
foreign cash collateral for futures |
$ | 2,746,229 | |||||
ˆ | Premiums
received on written options |
$ | 8,315,423 | |||||
Net
assets |
$ | 733,728,923 | ||||||
Shares
authorized |
unlimited | |||||||
Par
value |
$ | 0.010 | ||||||
Shares
outstanding |
97,548,925 | |||||||
Net asset
value |
$ | 7.52 |
INVESTMENT
INCOME: |
||||||
Dividends, net
of foreign taxes withheld* |
$ | 27,702,678 | ||||
Total
investment income |
27,702,678 | |||||
EXPENSES: |
||||||
Investment
management fees(1) |
9,487,682 | |||||
Transfer agent
fees |
33,979 | |||||
Administrative
service fees(1) |
148,857 | |||||
Shareholder
reporting expense |
155,960 | |||||
Professional
fees |
55,530 | |||||
Custody and
accounting expense |
209,717 | |||||
Trustee
fees |
25,139 | |||||
Miscellaneous
expense |
146,995 | |||||
Total
expenses |
10,263,859 | |||||
Net waived and
reimbursed fees |
(192,712 | ) | ||||
Net
expenses |
10,071,147 | |||||
Net investment
income |
17,631,531 | |||||
REALIZED AND
UNREALIZED GAIN (LOSS): |
||||||
Net realized
gain (loss) on: |
||||||
Investments |
42,939,720 | |||||
Foreign
currency related transactions |
4,365,292 | |||||
Futures |
5,577,262 | |||||
Written
options |
13,746,737 | |||||
Net realized
gain |
66,629,011 | |||||
Net change in
unrealized appreciation (depreciation) on: |
||||||
Investments |
(177,489,807 | ) | ||||
Foreign
currency related transactions |
734,818 | |||||
Futures |
(859,059 | ) | ||||
Written
options |
7,445,979 | |||||
Net change in
unrealized appreciation (depreciation) |
(170,168,069 | ) | ||||
Net realized and
unrealized loss |
(103,539,058 | ) | ||||
Decrease in
net assets resulting from operations |
$ | (85,907,527 | ) | |||
* Foreign taxes withheld |
$ | 1,826,578 |
(1) |
Effective May 1, 2015, the investment management fee and administration fee were combined under a single amended and restated investment management agreement. Please see Note 4 for further information. |
Year Ended February 29, 2016 |
Year Ended February 28, 2015 |
|||||||||
---|---|---|---|---|---|---|---|---|---|---|
FROM
OPERATIONS: |
||||||||||
Net investment
income |
$ | 17,631,531 | $ | 21,252,980 | ||||||
Net realized
gain |
66,629,011 | 71,959,445 | ||||||||
Net change in
unrealized appreciation (depreciation) |
(170,168,069 | ) | (75,575,619 | ) | ||||||
Increase
(decrease) in net assets resulting from operations |
(85,907,527 | ) | 17,636,806 | |||||||
FROM
DISTRIBUTIONS TO SHAREHOLDERS: |
||||||||||
Net investment
income |
(75,942,602 | ) | (88,964,620 | ) | ||||||
Return of
capital |
(13,022,018 | ) | | |||||||
Total
distributions |
(88,964,620 | ) | (88,964,620 | ) | ||||||
FROM CAPITAL
SHARE TRANSACTIONS: |
||||||||||
Net decrease in
net assets |
(174,872,147 | ) | (71,327,814 | ) | ||||||
NET
ASSETS: |
||||||||||
Beginning of
year or period |
908,601,070 | 979,928,884 | ||||||||
End of year or
period |
$ | 733,728,923 | $ | 908,601,070 | ||||||
Distributions in
excess of net investment income at end of year or period |
$ | (1,231,791 | ) | $ | (4,223,169 | ) |
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(3) |
|
Net expenses after expense waiver(3)(4) |
|
Net investment income (loss)(3)(4) |
|
Portfolio turnover |
|||||||||||||||||||||||||||||||||||||||||
Year or period ended |
|
($) |
|
($) |
|
($) |
|
($) |
|
($) |
|
($) |
|
($) |
|
($) |
|
($) |
|
($) |
|
($) |
|
(%) |
|
(%) |
|
($000s) |
|
(%) |
|
(%) |
|
(%) |
|
(%) |
|||||||||||||||||||||||||||||||||||||||
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 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
02-29-08 |
19.98 | 0.66 | | (1.18 | ) | (0.52 | ) | 0.61 | 1.35 | 0.11 | 2.07 | | 17.39 | 17.34 | (2.74 | ) | (5.71 | ) | 1,691,458 | 1.23 | 1.03 | 3.40 | 79 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
02-28-07 |
19.08 | 0.67 | | 2.09 | 2.76 | 0.57 | 1.24 | 0.06 | 1.87 | 0.01 | 19.98 | 20.55 | 15.32 | 19.35 | 1,933,397 | 1.21 | 1.01 | 3.43 | 119 |
(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 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, |
||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
2017 |
2018 |
2019 |
Total |
|||||||||||
$128,395 |
$157,971 |
$192,712 |
$479,078 |
Notional Amount |
Cost |
|||||||||
---|---|---|---|---|---|---|---|---|---|---|
Balance at
02/28/2015 |
$ | 185,000,000 | $ | 1,187,000 | ||||||
Options
Purchased |
687,500,000 | 4,249,320 | ||||||||
Options
Expired |
(533,500,000 | ) | (3,455,000 | ) | ||||||
Options
Terminated in Closing Sell Transactions |
(187,000,000 | ) | (1,023,400 | ) | ||||||
Balance at
02/29/2016 |
$ | 152,000,000 | $ | 957,920 |
Notional Amount |
Premiums Received |
|||||||||
---|---|---|---|---|---|---|---|---|---|---|
Balance at
02/28/2015 |
$ | 185,000,000 | $ | 1,187,000 | ||||||
Options
Written |
687,500,000 | 4,249,320 | ||||||||
Options
Expired |
(605,000,000 | ) | (3,659,400 | ) | ||||||
Options
Terminated in Closing Purchase Transactions |
(115,500,000 | ) | (819,000 | ) | ||||||
Balance at
02/29/2016 |
$ | 152,000,000 | $ | 957,920 |
Number of Contracts |
Premiums Received |
|||||||||
---|---|---|---|---|---|---|---|---|---|---|
Balance at
02/28/2015 |
409,100 | $ | 6,583,625 | |||||||
Options
Written |
3,282,900 | 50,585,346 | ||||||||
Options
Expired |
(1,746,000 | ) | (28,746,960 | ) | ||||||
Options
Terminated in Closing Purchase Transactions |
(1,531,600 | ) | (21,064,508 | ) | ||||||
Balance at
02/29/2016 |
414,400 | $ | 7,357,503 |
Paid-in Capital |
Undistributed Net Investment Income |
Accumulated Net Realized Gains/(Losses) |
||||||||
---|---|---|---|---|---|---|---|---|---|---|
$(52,734,220) |
$61,302,449 | $(8,568,229) |
(1) |
$52,734,220 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, 2015 |
Tax Year Ended December 31, 2014 |
|||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|
Ordinary Income |
Return of Capital |
Ordinary Income |
||||||||||
$78,982,227 |
$9,982,393 |
$88,964,620 |
Unrealized Appreciation/ (Depreciation) |
Short-term Capital Loss Carryforwards |
Expiration |
||||||||
---|---|---|---|---|---|---|---|---|---|---|
$(78,636,525) |
$ | (276,749,372 | ) | 2017 |
Per Share Amount |
Declaration Date |
Payable Date |
Record Date |
|||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
$ 0.076 | 2/16/2016 | 3/15/2016 | 3/3/2016 | |||||||||||
$ 0.076 | 3/15/2016 | 4/15/2016 | 4/5/2016 | |||||||||||
$ 0.076 | 4/15/2016 | 5/16/2016 | 5/4/2016 |
VOYA GLOBAL EQUITY DIVIDEND AND PREMIUM OPPORTUNITY FUND |
SUMMARY PORTFOLIO OF INVESTMENTS AS OF FEBRUARY 29, 2016 |
Shares |
|
|
|
Value |
|
Percentage of Net Assets |
|||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
COMMON STOCK: 96.1% |
|||||||||||||||||||
Belgium: 0.4% |
|||||||||||||||||||
70,800 |
Other Securities |
$ | 2,612,239 | 0.4 | |||||||||||||||
Canada: 3.6% |
|||||||||||||||||||
744,821 |
Cenovus Energy, Inc. |
8,521,677 | 1.2 | ||||||||||||||||
483,814 |
Shaw Communications, Inc. Class B |
8,378,242 | 1.1 | ||||||||||||||||
184,628 |
Other Securities |
9,540,661 | 1.3 | ||||||||||||||||
26,440,580 | 3.6 | ||||||||||||||||||
France: 10.4% |
|||||||||||||||||||
278,293 |
BNP Paribas |
12,978,824 | 1.8 | ||||||||||||||||
188,394 |
Casino Guichard Perrachon S.A. |
8,481,899 | 1.1 | ||||||||||||||||
221,231 |
Cie de Saint-Gobain |
8,546,922 | 1.2 | ||||||||||||||||
554,290 |
Engie SA |
8,578,450 | 1.2 | ||||||||||||||||
112,197 |
Sanofi |
8,890,338 | 1.2 | ||||||||||||||||
278,300 |
Total S.A. |
12,473,590 | 1.7 | ||||||||||||||||
147,925 |
Vinci S.A. |
10,217,416 | 1.4 | ||||||||||||||||
207,794 |
Other Securities |
6,293,083 | 0.8 | ||||||||||||||||
76,460,522 | 10.4 | ||||||||||||||||||
Germany: 1.4% |
|||||||||||||||||||
401,445 |
Deutsche Bank AG |
6,901,861 | 1.0 | ||||||||||||||||
63,500 |
Other Securities |
3,220,471 | 0.4 | ||||||||||||||||
10,122,332 | 1.4 | ||||||||||||||||||
Italy: 3.2% |
|||||||||||||||||||
681,761 |
Assicurazioni Generali S.p.A. |
9,450,002 | 1.3 | ||||||||||||||||
532,987 |
ENI S.p.A. |
7,453,972 | 1.0 | ||||||||||||||||
1,704,300 |
Other Securities |
6,330,815 | 0.9 | ||||||||||||||||
23,234,789 | 3.2 | ||||||||||||||||||
Japan: 7.5% |
|||||||||||||||||||
2,302,200 |
Mitsubishi UFJ Financial Group, Inc. |
9,934,705 | 1.3 | ||||||||||||||||
898,800 |
Nissan Motor Co., Ltd. |
8,151,815 | 1.1 | ||||||||||||||||
354,900 |
Sumitomo Mitsui Financial Group, Inc. |
9,958,560 | 1.4 | ||||||||||||||||
2,001,800 |
Other Securities |
26,991,104 | 3.7 | ||||||||||||||||
55,036,184 | 7.5 | ||||||||||||||||||
Netherlands: 2.8% |
|||||||||||||||||||
714,267 |
Royal Dutch Shell PLC |
16,295,389 | 2.2 | ||||||||||||||||
1,046,960 |
Other Securities |
4,061,711 | 0.6 | ||||||||||||||||
20,357,100 | 2.8 | ||||||||||||||||||
Singapore: 1.2% |
|||||||||||||||||||
2,579,300 |
Other Securities |
8,919,505 | 1.2 | ||||||||||||||||
Spain: 1.1% |
|||||||||||||||||||
821,443 |
Telefonica S.A. |
8,190,783 | 1.1 | ||||||||||||||||
Sweden: 1.8% |
|||||||||||||||||||
1,036,801 |
Volvo AB B Shares |
10,385,575 | 1.4 | ||||||||||||||||
135,000 |
Other Securities |
3,164,333 | 0.4 | ||||||||||||||||
13,549,908 | 1.8 | ||||||||||||||||||
COMMON STOCK: (continued) |
|||||||||||||||||||
Switzerland: 5.1% |
|||||||||||||||||||
111,187 |
Novartis AG |
$ | 7,919,679 | 1.1 | |||||||||||||||
34,681 |
Roche Holding AG |
8,892,740 | 1.2 | ||||||||||||||||
953,789 |
Other Securities |
20,642,972 | 2.8 | ||||||||||||||||
37,455,391 | 5.1 | ||||||||||||||||||
Taiwan: 1.7% |
|||||||||||||||||||
422,967 |
Taiwan Semiconductor Manufacturing Co., Ltd. SP ADR |
9,960,873 | 1.3 | ||||||||||||||||
402,100 |
Other Securities |
2,834,996 | 0.4 | ||||||||||||||||
12,795,869 | 1.7 | ||||||||||||||||||
United Kingdom: 9.9% |
|||||||||||||||||||
1,233,092 |
HSBC Holdings PLC |
7,841,627 | 1.1 | ||||||||||||||||
150,613 |
Imperial Brands PLC |
7,773,994 | 1.1 | ||||||||||||||||
1,898,200 |
Kingfisher PLC |
8,768,333 | 1.2 | ||||||||||||||||
329,223 |
Rio Tinto PLC |
8,659,482 | 1.2 | ||||||||||||||||
3,957,154 |
Vodafone Group PLC |
12,001,621 | 1.6 | ||||||||||||||||
6,231,160 |
Other Securities |
27,302,450 | 3.7 | ||||||||||||||||
72,347,507 | 9.9 | ||||||||||||||||||
United States: 46.0% |
|||||||||||||||||||
176,211 |
AbbVie, Inc. |
9,622,883 | 1.3 | ||||||||||||||||
283,900 |
ADT Corp. |
11,461,043 | 1.6 | ||||||||||||||||
114,500 |
American Electric Power Co., Inc. |
7,070,375 | 1.0 | ||||||||||||||||
61,206 |
Amgen, Inc. |
8,708,390 | 1.2 | ||||||||||||||||
84,751 |
Apple, Inc. |
8,194,574 | 1.1 | ||||||||||||||||
234,379 |
CenturyLink, Inc. |
7,169,654 | 1.0 | ||||||||||||||||
109,866 |
Chevron Corp. |
9,167,219 | 1.3 | ||||||||||||||||
479,239 |
Cisco Systems, Inc. |
12,546,477 | 1.7 | ||||||||||||||||
329,000 |
Citigroup, Inc. |
12,781,650 | 1.7 | ||||||||||||||||
239,500 |
ConAgra Foods, Inc. |
10,073,370 | 1.4 | ||||||||||||||||
362,600 |
EMC Corp. |
9,474,738 | 1.3 | ||||||||||||||||
119,048 |
Exxon Mobil Corp. |
9,541,697 | 1.3 | ||||||||||||||||
352,150 |
Gap, Inc. |
9,736,948 | 1.3 | ||||||||||||||||
413,431 |
General Electric Co. |
12,047,379 | 1.6 | ||||||||||||||||
92,591 |
Johnson & Johnson |
9,741,499 | 1.3 | ||||||||||||||||
152,300 |
Las Vegas Sands Corp. |
7,353,044 | 1.0 | ||||||||||||||||
169,057 |
Macys, Inc. |
7,304,953 | 1.0 | ||||||||||||||||
303,700 |
Mattel, Inc. |
9,876,324 | 1.4 | ||||||||||||||||
80,900 |
McDonalds Corp. |
9,480,671 | 1.3 | ||||||||||||||||
266,447 |
Metlife, Inc. |
10,540,643 | 1.4 | ||||||||||||||||
232,476 |
Microsoft Corp. |
11,828,379 | 1.6 | ||||||||||||||||
488,187 |
Pfizer, Inc. |
14,484,508 | 2.0 | ||||||||||||||||
101,704 |
PNC Financial Services Group, Inc. |
8,269,552 | 1.1 | ||||||||||||||||
120,382 |
Procter & Gamble Co. |
9,665,471 | 1.3 | ||||||||||||||||
479,350 |
Symantec Corp. |
9,256,249 | 1.3 | ||||||||||||||||
37,900 |
Verizon Communications, Inc. |
1,922,667 | 0.3 |
VOYA GLOBAL EQUITY DIVIDEND AND PREMIUM OPPORTUNITY FUND |
SUMMARY PORTFOLIO OF INVESTMENTS AS OF FEBRUARY 29, 2016 (CONTINUED) |
Shares |
|
|
|
Value |
|
Percentage of Net Assets | |||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
COMMON STOCK: (continued) |
|||||||||||||||||||
United States: (continued) |
|||||||||||||||||||
101,783 |
Verizon Communications, Inc. VZC |
$ | 5,188,841 | 0.7 | |||||||||||||||
148,300 |
Wal-Mart Stores, Inc. |
9,838,222 | 1.3 | ||||||||||||||||
2,211,357 |
Other Securities |
75,376,698 | 10.2 | ||||||||||||||||
337,724,118 | 46.0 | ||||||||||||||||||
Total
Common Stock (Cost $838,550,917) |
705,246,827 | 96.1 |
# of Contracts |
|
|
|
Value |
|
Percentage of Net Assets |
|||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
PURCHASED OPTIONS: 0.3% |
|||||||||||||||||||
Options on Currencies: 0.3% |
|||||||||||||||||||
13,000,000 |
@ |
Call
USD vs Put JPY, Strike @ 121.330, Exp. 04/20/16 Counterparty: Goldman Sachs & Co. |
20,380 | 0.0 | |||||||||||||||
16,000,000 |
@ |
Call
USD vs Put JPY, Strike @ 118.470, Exp. 05/20/16 Counterparty: Morgan Stanley |
82,179 | 0.0 | |||||||||||||||
10,000,000 |
@ |
Call
USD vs. Put EUR, Strike @ 1.048, Exp. 04/20/16 Counterparty: BNP Paribas Bank |
47,116 | 0.0 | |||||||||||||||
15,000,000 |
@ |
Call
USD vs. Put EUR, Strike @ 1.043, Exp. 03/18/16 Counterparty: Morgan Stanley |
21,026 | 0.0 | |||||||||||||||
15,000,000 |
@ |
Call
USD vs. Put EUR, Strike @ 1.062, Exp. 05/20/16 Counterparty: BNP Paribas Bank |
169,489 | 0.1 | |||||||||||||||
29,000,000 |
@ |
Call
USD vs. Put GBP, Strike @ 1.361, Exp. 05/20/16 Counterparty: BNP Paribas Bank |
372,579 | 0.1 | |||||||||||||||
16,000,000 |
@ |
Call
USD vs. Put GBP, Strike @ 1.366, Exp. 04/20/16 Counterparty: Goldman Sachs & Co. |
159,043 | 0.0 | |||||||||||||||
26,000,000 |
@ |
Call
USD vs. Put GBP, Strike @ 1.441, Exp. 03/18/16 Counterparty: Morgan Stanley |
902,618 | 0.1 | |||||||||||||||
PURCHASED OPTIONS: (continued) |
|||||||||||||||||||
Options on Currencies: (continued) |
|||||||||||||||||||
12,000,000 |
@ |
Call USD vs. Put JPY, Strike @ 125.550, Exp. 03/18/16 Counterparty: Goldman Sachs &
Co. |
$ | 221 | 0.0 | ||||||||||||||
1,774,651 | 0.3 | ||||||||||||||||||
Total
Purchased Options (Cost $957,920) |
1,774,651 | 0.3 | |||||||||||||||||
Total Investments in Securities (Cost $839,508,837) |
$ | 707,021,478 | 96.4 | ||||||||||||||||
Assets in Excess of Other Liabilities |
26,707,445 | 3.6 | |||||||||||||||||
Net Assets |
$ | 733,728,923 | 100.0 |
@ |
Non-income producing security. |
ADR |
American Depositary Receipt |
Cost for federal income tax purposes is $839,665,249. |
Net unrealized
depreciation consists of: |
||||||
Gross
Unrealized Appreciation |
$ | 42,469,312 | ||||
Gross
Unrealized Depreciation |
(175,113,083 | ) | ||||
Net Unrealized
Depreciation |
$ | (132,643,771 | ) |
Sector Diversification |
Percentage of Net Assets |
|||||
---|---|---|---|---|---|---|
Financials |
19.2 | % | ||||
Information
Technology |
12.0 | |||||
Health
Care |
11.3 | |||||
Consumer
Discretionary |
10.6 | |||||
Industrials |
10.5 | |||||
Energy |
10.1 | |||||
Consumer
Staples |
7.0 | |||||
Materials |
6.0 | |||||
Telecommunication Services |
5.5 | |||||
Utilities |
3.9 | |||||
Purchased
Options |
0.3 | |||||
Assets in Excess
of Other Liabilities |
3.6 | |||||
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 29, 2016 |
|||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Asset
Table |
||||||||||||||||||
Investments,
at fair value |
||||||||||||||||||
Common
Stock |
||||||||||||||||||
Belgium |
$ | | $ | 2,612,239 | $ | | $ | 2,612,239 | ||||||||||
Canada |
26,440,580 | | | 26,440,580 |
VOYA GLOBAL EQUITY DIVIDEND AND PREMIUM OPPORTUNITY FUND |
SUMMARY PORTFOLIO OF INVESTMENTS AS OF FEBRUARY 29, 2016 (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 29, 2016 | |||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Asset Table
(continued) |
||||||||||||||||||
France |
$ | | $ | 76,460,522 | $ | | $ | 76,460,522 | ||||||||||
Germany |
| 10,122,332 | | 10,122,332 | ||||||||||||||
Italy |
| 23,234,789 | | 23,234,789 | ||||||||||||||
Japan |
| 55,036,184 | | 55,036,184 | ||||||||||||||
Netherlands |
| 20,357,100 | | 20,357,100 | ||||||||||||||
Singapore |
| 8,919,505 | | 8,919,505 | ||||||||||||||
Spain |
| 8,190,783 | | 8,190,783 | ||||||||||||||
Sweden |
| 13,549,908 | | 13,549,908 | ||||||||||||||
Switzerland |
| 37,455,391 | | 37,455,391 | ||||||||||||||
Taiwan |
9,960,873 | 2,834,996 | | 12,795,869 | ||||||||||||||
United
Kingdom |
| 72,347,507 | | 72,347,507 | ||||||||||||||
United
States |
332,535,277 | 5,188,841 | | 337,724,118 | ||||||||||||||
Total Common
Stock |
368,936,730 | 336,310,097 | | 705,246,827 | ||||||||||||||
Purchased
Options |
| 1,774,651 | | 1,774,651 | ||||||||||||||
Total
Investments, at fair value |
$ | 368,936,730 | $ | 338,084,748 | $ | | $ | 707,021,478 | ||||||||||
Other
Financial Instruments+ |
||||||||||||||||||
Futures |
24,407 | | | 24,407 | ||||||||||||||
Total
Assets |
$ | 368,961,137 | $ | 338,084,748 | $ | | $ | 707,045,885 | ||||||||||
Liabilities
Table |
||||||||||||||||||
Other
Financial Instruments+ |
||||||||||||||||||
Futures |
$ | (179,489 | ) | $ | | $ | | $ | (179,489 | ) | ||||||||
Written
Options |
| (8,136,906 | ) | | (8,136,906 | ) | ||||||||||||
Total
Liabilities |
$ | (179,489 | ) | $ | (8,136,906 | ) | $ | | $ | (8,316,395 | ) |
ˆ |
See Note 2, Significant Accounting Policies in the Notes to Financial Statements for additional information. |
+ |
Other Financial Instruments are derivatives not reflected in the portfolio of investments and 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 |
||||||||||||||||||
Nikkei 225
Index |
77 | 03/10/16 | $ | 5,451,222 | $ | (157,550 | ) | |||||||||||
$ | 5,451,222 | $ | (157,550 | ) | ||||||||||||||
Short
Contracts |
||||||||||||||||||
EURO STOXX
50® Index |
(40 | ) | 03/18/16 | (1,276,707 | ) | (7,020 | ) | |||||||||||
FTSE 100
Index |
(76 | ) | 03/18/16 | (6,408,702 | ) | (14,919 | ) | |||||||||||
S&P 500
E-Mini |
(17 | ) | 03/18/16 | (1,640,075 | ) | 24,407 | ||||||||||||
$ | (9,325,484 | ) | $ | 2,468 |
VOYA GLOBAL EQUITY DIVIDEND AND PREMIUM OPPORTUNITY FUND |
SUMMARY PORTFOLIO OF INVESTMENTS AS OF FEBRUARY 29, 2016 (CONTINUED) |
Number of Contracts/Notional Amount |
Counterparty |
Description |
Exercise Price |
Expiration Date |
Premiums Received |
Fair Value |
||||||||||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Options on Indices |
||||||||||||||||||||||||||||
4,300 |
Barclays Bank PLC |
Call on EURO STOXX 50® Index |
2,949.340 | EUR | 04/01/16 | $ | 324,819 | $ | (434,442 | ) | ||||||||||||||||||
4,300 |
Barclays Bank PLC |
Call on EURO STOXX 50® Index |
3,059.431 | EUR | 03/04/16 | 374,403 | (35,030 | ) | ||||||||||||||||||||
4,200 |
Morgan Stanley |
Call on EURO STOXX 50® Index |
2,960.020 | EUR | 03/18/16 | 311,423 | (318,223 | ) | ||||||||||||||||||||
2,700 |
Barclays Bank PLC |
Call on FTSE 100 Index |
5,910.380 | GBP | 03/18/16 | 448,949 | (845,232 | ) | ||||||||||||||||||||
2,800 |
Citigroup, Inc. |
Call on FTSE 100 Index |
6,074.950 | GBP | 04/01/16 | 416,548 | (549,803 | ) | ||||||||||||||||||||
2,800 |
Morgan Stanley |
Call on FTSE 100 Index |
5,929.520 | GBP | 03/04/16 | 515,357 | (675,744 | ) | ||||||||||||||||||||
98,600 |
BNP Paribas Bank |
Call on Nikkei 225 Index |
16,380.090 | JPY | 04/01/16 | 382,864 | (333,043 | ) | ||||||||||||||||||||
96,100 |
Morgan Stanley |
Call on Nikkei 225 Index |
17,264.715 | JPY | 03/18/16 | 351,351 | (43,250 | ) | ||||||||||||||||||||
87,800 |
Morgan Stanley |
Call on Nikkei 225 Index |
17,521.850 | JPY | 03/04/16 | 341,882 | (364 | ) | ||||||||||||||||||||
36,500 |
Morgan Stanley |
Call on S&P 500 Index |
1,906.860 | USD | 03/18/16 | 1,209,975 | (1,717,695 | ) | ||||||||||||||||||||
37,600 |
Morgan Stanley |
Call on S&P 500 Index |
1,917.440 | USD | 03/04/16 | 1,445,344 | (901,552 | ) | ||||||||||||||||||||
36,700 |
Morgan Stanley |
Call on S&P 500 Index |
1,933.060 | USD | 04/01/16 | 1,234,588 | (1,413,083 | ) | ||||||||||||||||||||
Options on Currencies |
||||||||||||||||||||||||||||
10,000,000 |
BNP Paribas Bank |
Put USD vs. Call EUR |
1.137 | USD | 04/20/16 | 60,000 | (35,946 | ) | ||||||||||||||||||||
15,000,000 |
BNP Paribas Bank |
Put USD vs. Call EUR |
1.160 | USD | 05/20/16 | 105,000 | (51,520 | ) | ||||||||||||||||||||
15,000,000 |
Morgan Stanley |
Put USD vs. Call EUR |
1.125 | USD | 03/18/16 | 105,000 | (38,066 | ) | ||||||||||||||||||||
29,000,000 |
BNP Paribas Bank |
Put USD vs. Call GBP |
1.483 | USD | 05/20/16 | 203,000 | (72,898 | ) | ||||||||||||||||||||
16,000,000 |
Goldman Sachs & Co. |
Put USD vs. Call GBP |
1.465 | USD | 04/20/16 | 96,000 | (33,586 | ) | ||||||||||||||||||||
26,000,000 |
Morgan Stanley |
Put USD vs. Call GBP |
1.530 | USD | 03/18/16 | 140,400 | (83 | ) | ||||||||||||||||||||
13,000,000 |
Goldman Sachs & Co. |
Put USD vs. Call JPY |
110.200 | USD | 04/20/16 | 78,520 | (155,985 | ) | ||||||||||||||||||||
12,000,000 |
Goldman Sachs & Co. |
Put USD vs. Call JPY |
116.150 | USD | 03/18/16 | 54,000 | (389,095 | ) | ||||||||||||||||||||
16,000,000 |
Morgan Stanley |
Put USD vs. Call JPY |
104.600 | USD | 05/20/16 | 116,000 | (92,266 | ) | ||||||||||||||||||||
Total Written OTC Options | $ | 8,315,423 | $ | (8,136,906 | ) |
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* |
$ | 1,774,651 | |||||||
Equity
contracts |
Net Assets
Unrealized appreciation** |
24,407 | ||||||||
Total Asset
Derivatives |
$ | 1,799,058 | ||||||||
Liability
Derivatives |
||||||||||
Equity
contracts |
Net Assets
Unrealized depreciation** |
$ | 179,489 | |||||||
Equity
Contracts |
Written
options, at fair value |
7,267,461 | ||||||||
Foreign exchange
contracts |
Written
options, at fair value |
869,445 | ||||||||
Total Liability
Derivatives |
$ | 8,316,395 |
* |
Includes purchased options. |
** |
Includes cumulative appreciation/depreciation of futures contracts as reported in the table following the Summary Portfolio of Investments. |
Amount of Realized Gain or (Loss) on Derivatives Recognized in Income |
|||||||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Derivatives not accounted for as hedging instruments |
Investments* |
Futures |
Written options |
Total |
|||||||||||||||
Equity
contracts |
$ | | $ | 5,577,262 | $ | 11,535,541 | 17,112,803 | ||||||||||||
Foreign exchange
contracts |
854 | | 2,211,196 | 2,212,050 | |||||||||||||||
Total |
$ | 854 | $ | 5,577,262 | $ | 13,746,737 | $ | 19,324,853 |
VOYA GLOBAL EQUITY DIVIDEND AND PREMIUM OPPORTUNITY FUND |
SUMMARY PORTFOLIO OF INVESTMENTS AS OF FEBRUARY 29, 2016 (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 |
$ | | $ | (859,059 | ) | $ | 8,005,530 | $ | 7,146,471 | ||||||||||
Foreign exchange
contracts |
919,763 | | (559,551 | ) | 360,212 | ||||||||||||||
Total |
$ | 919,763 | $ | (859,059 | ) | $ | 7,445,979 | $ | 7,506,683 |
* |
Amounts recognized for purchased options are included in net realized gain (loss) on investments and net change in unrealized appreciation or depreciation on investments. |
Barclays Bank PLC |
BNP Paribas Bank |
Citigroup, Inc. |
Goldman Sachs & Co. |
Morgan Stanley |
Totals |
||||||||||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Assets: |
|||||||||||||||||||||||||||
Purchased
options |
$ | | $ | 589,184 | $ | | $ | 179,644 | $ | 1,005,823 | $ | 1,774,651 | |||||||||||||||
Total
Assets |
$ | | $ | 589,184 | $ | | $ | 179,644 | $ | 1,005,823 | $ | 1,774,651 | |||||||||||||||
Liabilities: |
|||||||||||||||||||||||||||
Written
options |
$ | 1,314,704 | $ | 493,407 | $ | 549,803 | $ | 578,666 | $ | 5,200,326 | $ | 8,136,906 | |||||||||||||||
Total
Liabilities |
$ | 1,314,704 | $ | 493,407 | $ | 549,803 | $ | 578,666 | $ | 5,200,326 | $ | 8,136,906 | |||||||||||||||
Net OTC
derivative instruments by counterparty, at fair value |
$ | (1,314,704 | ) | $ | 95,777 | $ | (549,803 | ) | $ | (399,022 | ) | $ | (4,194,503 | ) | $ | (6,362,255 | ) | ||||||||||
Total
collateral pledged by the Fund/(Received from counterparty) |
$ | | $ | | $ | | $ | | $ | | $ | | |||||||||||||||
Net
Exposure(1) |
$ | (1,314,704 | ) | $ | 95,777 | $ | (549,803 | ) | $ | (399,022 | ) | $ | (4,194,503 | ) | $ | (6,362,255 | ) |
(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. |
Indices |
||||||
% of Total Net
Assets against which calls written |
49.88 | % | ||||
Average Days to
Expiration at time written |
44 days | |||||
Average Call
Moneyness* at time written |
OTM/ATM | |||||
Premiums received
for calls |
$ | 7,357,503 | ||||
Value of
calls |
$ | (7,267,461 | ) |
Currencies |
||||||
% of Total Net
Assets against which calls/puts written |
20.53 | % | ||||
Average Days to
Expiration at time written |
91 days | |||||
Average Call
Moneyness* at time written |
OTM | |||||
Premiums received
for calls |
$ | 957,920 | ||||
Value of
calls |
$ | (869,445 | ) |
Currency |
||||||
% of Total Net
Assets against which Currency calls/puts purchased |
20.53 | % | ||||
Average Days to
Expiration at time purchased |
91 days | |||||
Average Currency
Put Moneyness* at time purchased |
OTM | |||||
Premiums Paid for
puts |
$ | 957,920 | ||||
Value of
puts |
$ | 1,774,651 |
* |
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 |
$ | 0.8100 | |||||||
ROC |
$ | 0.1020 |
Creditable Foreign Taxes Paid |
Per Share Amount |
Portion of Ordinary Income Distribution Derived from Foreign Sourced Income* |
||||||||
---|---|---|---|---|---|---|---|---|---|---|
$1,133,262 |
$0.0116 |
58.89% |
* |
None of the Funds income was derived from ineligible foreign sources as defined under Section 901(j) of the Internal Revenue Code. |
1 |
To elect four nominees to the Board of Trustees of Voya Global Equity Dividend and Premium Opportunity Fund. |
Proposal |
Shares voted for |
Shares voted against or withheld |
Shares abstained |
Broker non-vote |
Total Shares Voted |
|||||||||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Voya Global
Equity Dividend and Premium Opportunity Fund |
||||||||||||||||||||||||||
Colleen D.
Baldwin |
1* |
80,001,645.038 | 4,604,967.600 | 0.000 | 0.000 | 84,606,612.638 | ||||||||||||||||||||
Peter S.
Drotch |
1* |
79,776,867.038 | 4,829,745.600 | 0.000 | 0.000 | 84,606,612.638 | ||||||||||||||||||||
Russell H.
Jones |
1* |
79,837,500.038 | 4,769,112.600 | 0.000 | 0.000 | 84,606,612.638 | ||||||||||||||||||||
Joseph E.
Obermeyer |
1* |
80,245,090.038 | 4,361,522.600 | 0.000 | 0.000 | 84,606,612.638 |
* |
Proposal Passed |
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: 55 |
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: 62 |
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: 67 |
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 (35 funds) (December 2009Present); and AMICA Mutual Insurance
Company (1992Present). |
|||||||||||||||||
Peter S.
Drotch 7337 East Doubletree Ranch Rd. Suite 100 Scottsdale, Arizona 85258 Age: 74 |
Trustee |
October 2007Present |
Retired. |
151 |
First
Marblehead Corporation (September 2003Present). |
|||||||||||||||||
Martin J.
Gavin 7337 East Doubletree Ranch Rd. Suite 100 Scottsdale, Arizona 85258-2034 Age: 66 |
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: 71 |
Trustee |
May 2013Present |
Retired. |
151 |
None. |
|||||||||||||||||
Patrick W.
Kenny 7337 East Doubletree Ranch Rd. Suite 100 Scottsdale, Arizona 85258 Age: 73 |
Trustee |
February 2005Present |
Retired. |
151 |
Assured Guaranty Ltd. (April 2004Present). |
|||||||||||||||||
Joseph E.
Obermeyer 7337 East Doubletree Ranch Rd. Suite 100 Scottsdale, Arizona 85258 Age: 58 |
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: 65 |
Trustee |
January 2006Present |
Consultant (May 2001Present). |
151 |
None. |
|||||||||||||||||
Christopher
P. Sullivan 7337 East Doubletree Ranch Rd. Suite 100 Scottsdale, Arizona 85258 Age: 62 |
Trustee |
October 2015Present |
Retired. Formerly, President, Bond Division, Fidelity Management and Research (June 2009 September 2012). |
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 | |||||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Roger B. Vincent 7337 East Doubletree Ranch Rd. Suite 100 Scottsdale, Arizona 85258 Age: 70 |
Trustee |
February 2005Present |
Retired. Formerly, President, Springwell Corporation, a corporate finance firm (March 1989August 2011). |
151 |
UGI
Corporation (February 2006Present) and UGI Utilities, Inc. (February 2006Present). |
|||||||||||||||||
Trustee
who is an interested person: |
||||||||||||||||||||||
Shaun P.
Mathews(3) 7337 East Doubletree Ranch Rd. Suite 100 Scottsdale, Arizona 85258 Age:60 |
Trustee |
June 2006 Present |
President and Chief Executive Officer, Voya Investments, LLC (December 2006Present). |
151 |
Voya
Capital Corporation, LLC and Voya Investments Distributor, LLC (December 2005Present); Voya Funds Services, LLC, Voya Investments, LLC and Voya
Investment Management (March 2006Present); and Voya Investment Trust Co. (April 2009Present). |
(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 Infrastructure, Industrials and Materials Fund; Voya Intermediate Bond Portfolio; Voya International High Dividend Equity Income Fund; Voya Investors Trust; Voya Money Market Portfolio; Voya Mutual Funds; Voya 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, 2016. |
(3) |
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 |
|||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Shaun P.
Mathews 7337 East Doubletree Ranch Rd. Suite 100 Scottsdale, Arizona 85258 Age: 60 |
President and
Chief Executive Officer |
November
2006Present |
President and Chief Executive Officer, Voya Investments, LLC (December 2006Present). |
|||||||||||
Michael J.
Roland 7337 East Doubletree Ranch Rd. Suite 100 Scottsdale, Arizona 85258 Age: 57 |
Executive Vice
President |
January
2005Present |
Managing Director and Chief Operating Officer, Voya Investments, LLC and Voya Funds Services, LLC (March 2012Present). Formerly, Chief
Compliance Officer, Directed Services LLC and Voya Investments, LLC (March 2011 December 2013); Executive Vice President and Chief Operating
Officer, Voya Investments, LLC and Voya Funds Services, LLC (January 2007 April 2012) and Chief Compliance Officer, Voya Family of Funds (March
2011February 2012). |
|||||||||||
Stanley D.
Vyner 230 Park Avenue New York, New York 10169 Age: 65 |
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). |
|||||||||||
Kevin M.
Gleason 7337 East Doubletree Ranch Rd. Suite 100 Scottsdale, Arizona 85258 Age: 49 |
Chief Compliance
Officer |
February
2012Present |
Senior
Vice President, Voya Investment Management and Chief Compliance Officer, Voya Family of Funds (February 2012Present). Formerly, Assistant General
Counsel and Assistant Secretary, The Northwestern Mutual Life Insurance Company (June 2004January 2012). |
|||||||||||
Todd Modic 7337 East Doubletree Ranch Rd. Suite 100 Scottsdale, Arizona 85258 Age: 48 |
Senior Vice
President, Chief/Principal Financial Officer and Assistant Secretary |
May
2005Present |
Senior
Vice President, Voya Investments, LLC and Voya Funds Services, LLC (April 2005 Present). |
|||||||||||
Kimberly A.
Anderson 7337 East Doubletree Ranch Rd. Suite 100 Scottsdale, Arizona 85258 Age: 51 |
Senior Vice
President |
January
2005Present |
Senior
Vice President, Voya Investments, LLC (September 2003Present). |
|||||||||||
Julius A. Drelick,
III 7337 East Doubletree Ranch Rd. Suite 100 Scottsdale, Arizona 85258 Age: 49 |
Senior Vice
President |
July
2012Present |
Senior
Vice President Fund Compliance, Voya Investments, LLC (June 2012Present); and Chief Compliance Officer of Directed Services LLC and Voya
Investments, LLC (January 2014Present). Formerly, Vice President Platform Product Management & Project Management, Voya Investments,
LLC (April 2007June 2012). |
|||||||||||
Robert Terris 7337 East Doubletree Ranch Rd. Suite 100 Scottsdale, Arizona 85258 Age: 45 |
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: 43 |
Vice President and
Treasurer |
September
2012Present |
Vice
President, Voya Investments, LLC (October 2015Present) and Voya Funds Services, LLC (July 2012Present). Formerly, Assistant Vice President
Director, Voya Funds Services, LLC (March 2003March 2012). |
|||||||||||
Maria M.
Anderson 7337 East Doubletree Ranch Rd. Suite 100 Scottsdale, Arizona 85258 Age: 57 |
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: 62 |
Vice
President |
January
2005Present |
Vice
President, Voya Funds Services, LLC (February 1996Present) and Voya Investments, LLC (October 2004Present); Vice President and Money
Laundering Reporting Officer, Voya Investments Distributor, LLC (April 2010 Present); Anti-Money Laundering Compliance Officer, Voya Financial,
Inc. (January 2013 Present); and Money Laundering Reporting Officer, Voya Investment Management Trust Co. (October
2012Present). |
|||||||||||
Sara M.
Donaldson 7337 East Doubletree Ranch Rd. Suite 100 Scottsdale, Arizona 85258 Age: 56 |
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). |
|||||||||||
Robyn L.
Ichilov 7337 East Doubletree Ranch Rd. Suite 100 Scottsdale, Arizona 85258 Age: 48 |
Vice
President |
January
2005Present |
Vice
President, Voya Funds Services, LLC (November 1995Present) and Voya Investments, LLC (August 1997Present). Formerly, Treasurer, Voya Family
of Funds (November 1999February 2012). |
|||||||||||
Jason Kadavy 7337 East Doubletree Ranch Rd. Suite 100 Scottsdale, Arizona 85258 Age: 40 |
Vice
President |
September
2012Present |
Vice
President, Voya Investments, LLC (October 2015Present) and Voya Funds Services, LLC (July 2007Present). |
|||||||||||
Kimberly K.
Springer 7337 East Doubletree Ranch Rd. Suite 100 Scottsdale, Arizona 85258 Age: 58 |
Vice
President |
March
2006Present |
Vice
President Mutual 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). Formerly Managing Paralegal, Registration Statements (June
2003July 2012). |
|||||||||||
Craig Wheeler 7337 East Doubletree Ranch Rd. Suite 100 Scottsdale, Arizona 85258 Age: 47 |
Vice
President |
May
2013Present |
Vice
President Director of Tax, Voya Investments, LLC (October 2015Present). Formerly, Vice President Director of Tax, Voya Funds
Services, LLC (March 2013October 2015). Formerly, Assistant Vice President Director of Tax, Voya Funds Services, LLC (March
2008February 2013). |
|||||||||||
Huey P. Falgout,
Jr. 7337 East Doubletree Ranch Rd. Suite 100 Scottsdale, Arizona 85258 Age: 52 |
Secretary |
January
2005Present |
Senior
Vice President and Chief Counsel, Voya Investment Management Mutual Fund Legal Department (March 2010Present). |
|||||||||||
Paul A.
Caldarelli 7337 East Doubletree Ranch Rd. Suite 100 Scottsdale, Arizona 85258 Age: 64 |
Assistant
Secretary |
June
2010Present |
Vice
President and Senior Counsel, Voya Investment Management Mutual Fund Legal Department (March 2010Present). |
|||||||||||
Theresa K.
Kelety 7337 East Doubletree Ranch Rd. Suite 100 Scottsdale, Arizona 85258 Age: 53 |
Assistant
Secretary |
January
2005Present |
Vice
President and Senior Counsel, Voya Investment Management Mutual 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. |
1) |
The Independent Trustees solicited and received ongoing advice regarding the Boards legal duties when approving the Sub-Advisory Contract from K&L Gates, their independent legal counsel, which law firm has extensive experience regarding such matters. |
2) |
The Board considered the Sub-Advisers representations regarding its commitment to maintain appropriate levels of overall staffing, ongoing resources and service quality through the transactions under the Separation Plan and after the Change of Control Event. The Board noted that such services include, but are not limited to, investment management and research services. In this regard, the Board considered representations by the Sub-Adviser that its separation from ING Groep, as contemplated by the Separation Plan, will not lead to a reduction in the quality or scope of these and other services provided by those firms to the funds in the Voya funds complex, including the Fund. |
3) |
The Board considered representations by the Sub-Adviser that approval of the Sub-Advisory Contract would be necessary for the Fund to continue receiving sub-advisory services from the Sub-Adviser following the Change of Control Event. In addition, the Board considered representations by the Sub-Adviser, as well as related supporting documentation, indicating that the Sub-Advisory Contract, including the fees payable thereunder, are substantially similar to and, in any event, are no less favorable to the Fund than, the terms of the Prior Contract. |
4) |
The Board considered representations by the Sub-Adviser indicating that: (a) the Sub-Adviser can be expected to provide services of the same nature, extent and quality under the Sub-Advisory Contract as were provided thereby under the Prior Contract; and (b) the Change of Control Event is not expected to result in any changes to: (i) the management of the Fund, including the continuity of the Funds portfolio managers and other personnel responsible for the management operations of the Fund; or (ii) the investment objective of or the principal investment strategies used to manage the Fund. |
Declaration Date |
Ex Date |
Record Date |
Payable Date |
|||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
15-Jan-16 | 1-Feb-16 | 3-Feb-16 | 16-Feb-16 | |||||||||||
16-Feb-16 | 1-Mar-16 | 3-Mar-16 | 15-Mar-16 | |||||||||||
15-Mar-16 | 1-Apr-16 | 5-Apr-15 | 15-Apr-16 | |||||||||||
15-Apr-16 | 2-May-16 | 4-May-16 | 16-May-16 | |||||||||||
16-May-16 | 1-Jun-16 | 3-Jun-16 | 15-Jun-16 | |||||||||||
15-Jun-16 | 1-Jul-16 | 6-Jul-16 | 15-Jul-16 | |||||||||||
15-Jul-16 | 1-Aug-16 | 3-Aug-16 | 15-Aug-16 | |||||||||||
15-Aug-16 | 1-Sep-16 | 6-Sep-16 | 15-Sep-16 | |||||||||||
15-Sep-16 | 3-Oct-16 | 5-Oct-16 | 17-Oct-16 | |||||||||||
17-Oct-16 | 1-Nov-16 | 3-Nov-16 | 15-Nov-16 | |||||||||||
15-Nov-16 | 1-Dec-16 | 5-Dec-16 | 15-Dec-16 | |||||||||||
15-Dec-16 | 28-Dec-16 | 30-Dec-16 | 17-Jan-17 |
RETIREMENT | INVESTMENTS | INSURANCE voyainvestments.com |
AR-IGD (0216-042216) |
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), Exhibit 99.CODE ETH.
Item 3. | Audit Committee Financial Expert. |
The Board of Trustees has determined that Colleen D. Baldwin, Peter S. Drotch, Patrick W. Kenny, Joseph E. Obermeyer, and Roger B. Vincent are audit committee financial experts, as defined in Item 3 of Form N-CSR. Ms. Baldwin, Mr. Drotch, Mr. 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, for services that are normally provided by the accountant in connection with statutory and regulatory filings or engagements for those fiscal years were $26,600 for the year ended February 29, 2016 and $26,600 for the year ended February 28, 2015. |
(b) | Audit-Related Fees: The aggregate fees billed in each of the last two fiscal years for assurance and related services by KPMG that are reasonably related to the performance of the audit of the registrant’s financial statements and are not reported under paragraph (a) of this item were $2,525 for the year ended February 29, 2016 and $2,525 for the year ended February 28, 2015. |
(c) | Tax Fees: The aggregate fees billed in each the last two fiscal years for professional services rendered by KPMG for tax compliance, tax advice, and tax planning were $11,091 in the year ended February 29, 2016 and $10,210 in the year ended February 28, 2015. Such services included review of excise distribution calculations (if applicable), preparation of the Funds’ federal, state and excise tax returns, tax services related to mergers and routine consulting. |
(a) | 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 29, 2016 and $2,194 for the year ended February 28, 2015. |
(e)(1) | Audit Committee Pre-Approval Policies and Procedures |
AUDIT AND NON-AUDIT SERVICES
PRE-APPROVAL POLICY
I. | Statement of Principles |
Under the Sarbanes-Oxley Act of 2002 (the “Act”), the Audit Committee of the Board of Directors or Trustees (the “Committee”) of the Voya funds (each a “Fund,” collectively, the “Funds”) set out on Exhibit A to this Audit and Non-Audit Services Pre-Approval Policy (“Policy”) is responsible for the oversight of the work of the Funds’ independent auditors. As part of its responsibilities, the Committee must pre-approve the audit and non-audit services performed by the auditors in order to assure that the provision of these services does not impair the auditors’ independence from the Funds. The Committee has adopted, and the Board has ratified, this Policy, which sets out the procedures and conditions under which the services of the independent auditors may be pre-approved.
Under Securities and Exchange Commission (“SEC”) rules promulgated in accordance with the Act, the Funds may establish two different approaches to pre-approving audit and non-audit services. The Committee may approve services without consideration of specific case-by-case services (“general pre-approval”) or it may pre-approve specific services (“specific pre-approval”). The Committee believes that the combination of these approaches contemplated in this Policy results in an effective and efficient method for pre-approving audit and non-audit services to be performed by the Funds’ independent auditors. Under this Policy, services that are not of a type that may receive general pre-approval require specific pre-approval by the Committee. Any proposed services that exceed pre-approved cost levels or budgeted amounts will also require the Committee’s specific pre-approval.
For both types of approval, the Committee considers whether the subject services are consistent with the SEC’s rules on auditor independence and that such services are compatible with maintaining the auditors independence. The Committee also considers whether a particular audit firm is in the best position to provide effective and efficient services to the Funds. Reasons that the auditors are in the best position include the auditors’ familiarity with the Funds’ business, personnel, culture, accounting systems, risk profile, and other factors, and whether the services will enhance the Funds’ ability to manage and control risk or improve audit quality. Such factors will be considered as a whole, with no one factor being determinative.
The appendices attached to this Policy describe the audit, audit-related, tax-related, and other services that have the Committee’s general pre-approval. For any service that has been approved through general pre-approval, the general pre-approval will remain in place for a period 12 months from the date of pre-approval, unless the Committee determines that a different period is appropriate. The Committee will annually review and pre-approve the services that may be provided by the independent auditors without specific pre-approval. The Committee will revise the list of services subject to general pre-approval as appropriate. This Policy does not serve as a delegation to Fund management of the Committee’s duty to pre-approve services performed by the Funds’ independent auditors.
II. | Audit Services |
The annual audit services engagement terms and fees are subject to the Committee’s specific pre-approval. Audit services are those services that are normally provided by auditors in connection with statutory and regulatory filings or engagements or those that generally only independent auditors can reasonably provide. They include the Funds’ annual financial statement audit and procedures that the independent auditors must perform in order to form an opinion on the Funds’ financial statements (e.g., information systems and procedural reviews and testing). The Committee will monitor the audit services engagement and approve any changes in terms, conditions or fees deemed by the Committee to be necessary or appropriate.
The Committee may grant general pre-approval to other audit services, such as statutory audits and services associated with SEC registration statements, periodic reports and other documents filed with the SEC or issued in connection with securities offerings.
The Committee has pre-approved the audit services listed on Appendix A. The Committee must specifically approve all audit services not listed on Appendix A.
III. | Audit-related Services |
Audit-related services are assurance and related services that are reasonably related to the performance of the audit or the review of the Funds’ financial statements or are traditionally performed by the independent auditors. The Committee believes that the provision of audit-related services will not impair the independent auditors’ independence, and therefore may grant pre-approval to audit-related services. Audit-related services include accounting consultations related to accounting, financial reporting or disclosure matters not classified as “audit services;” assistance with understanding and implementing new accounting and financial reporting guidance from rulemaking authorities; agreed-upon or expanded audit procedures relating to accounting and/or billing records required to respond to or comply with financial, accounting or regulatory reporting matters; and assistance with internal control reporting requirements under Form N-SAR or Form N-CSR.
The Committee has pre-approved the audit-related services listed on Appendix B. The Committee must specifically approve all audit-related services not listed on Appendix B.
IV. | Tax Services |
The Committee believes the independent auditors can provide tax services to the Funds, including tax compliance, tax planning, and tax advice, without compromising the auditors’ independence. Therefore, the Committee may grant general pre-approval with respect to tax services historically provided by the Funds’ independent auditors that do not, in the Committee’s view, impair auditor independence and that are consistent with the SEC’s rules on auditor independence.
The Committee will not grant pre-approval if the independent auditors initially recommends a transaction the sole business purpose of which is tax avoidance and the tax treatment of which may not be supported in the Internal Revenue Code and related regulations. The Committee may consult outside counsel to determine that tax planning and reporting positions are consistent with this Policy.
The Committee has pre-approved the tax-related services listed on Appendix C. The Committee must specifically approve all tax-related services not listed on Appendix C.
V. | Other Services |
The Committee believes it may grant approval of non-audit services that are permissible services for independent auditors to a Fund. The Committee has determined to grant general pre-approval to other services that it believes are routine and recurring, do not impair auditor independence, and are consistent with SEC rules on auditor independence.
The Committee has pre-approved the non-audit services listed on Appendix D. The Committee must specifically approve all non-audit services not listed on Appendix D.
A list of the SEC’s prohibited non-audit services is attached to this Policy as Appendix E. The SEC’s rules and relevant guidance should be consulted to determine the precise definitions of these impermissible services and the applicability of exceptions to certain of the SEC’s prohibitions.
VI. | Pre-approval of Fee levels and Budgeted Amounts |
The Committee will annually establish pre-approval fee levels or budgeted amounts for audit, audit-related, tax and non-audit services to be provided to the Funds by the independent auditors. Any proposed services exceeding these levels or amounts require the Committee’s specific pre-approval. The Committee considers fees for audit and non-audit services when deciding whether to pre-approve services. The Committee may determine, for a pre-approval period of 12 months, the appropriate ratio between the total amount of fees for the Fund’s audit, audit-related, and tax services (including fees for services provided to Fund affiliates that are subject to pre-approval), and the total amount of fees for certain permissible non-audit services for the Fund classified as other services (including any such services provided to Fund affiliates that are subject to pre-approval).
VII. | Procedures |
Requests or applications for services to be provided by the independent auditors will be submitted to management. If management determines that the services do not fall within those services generally pre-approved by the Committee and set out in the appendices to these procedures, management will submit the services to the Committee or its delagee. Any such submission will include a detailed description of the services to be rendered. Notwithstanding this paragraph, the Committee will, on a quarterly basis, receive from the independent auditors a list of services provided for the previous calendar quarter on a cumulative basis by the auditors during the Pre-Approval Period.
VIII. | Delegation |
The Committee may delegate pre-approval authority to one or more of the Committee’s members. Any member or members to whom such pre-approval authority is delegated must report any pre-approval decisions, including any pre-approved services, to the Committee at its next scheduled meeting. The Committee will identify any member to whom pre-approval authority is delegated in writing. The member will retain such authority for a period of 12 months from the date of pre-approval unless the Committee determines that a different period is appropriate. The period of delegated authority may be terminated by the Committee or at the option of the member.
IX. | Additional Requirements |
The Committee will take any measures the Committee deems necessary or appropriate to oversee the work of the independent auditors and to assure the auditors’ independence from the Funds. This may include reviewing a formal written statement from the independent auditors delineating all relationships between the auditors and the Funds, consistent with Independence Standards Board No. 1, and discussing with the auditors their methods and procedures for ensuring independence.
Part of KPMG’s performance of an audit in accordance with standards of the Public Company Accounting Oversight Board (US) includes their responsibility to maintain and monitor auditor independence with respect to the Voya funds. Using a proprietary system called Sentinel, the audit team is able to identify and manage potential conflicts of interest across the member firms of the KPMG International Network and prevent the provision of prohibited services to the Voya entities that would impair KPMG independence with the respect to the Voya funds. KPMG requests pre-approval from the Voya funds Audit Committee for services provided to the Voya funds and for services to affiliated entities that relate to the financial reporting or nature of operations of the Voya Funds. Additionally, KPMG provides an annual summary of the fees for services that have commenced for Voya funds and Affiliates.
Last Approved: November 19, 2015
Appendix A
Pre-Approved Audit Services for the Pre-Approval Period January 1, 2016 through December 31, 2016
Service | ||
The Fund(s) | Fee Range | |
Statutory audits or financial audits (including tax services associated with audit services) | √ | As presented to Audit Committee1 |
Services associated with SEC registration statements, periodic reports and other documents filed with the SEC or other documents issued in connection with securities offerings (e.g., consents), and assistance in responding to SEC comment letters. | √ | Not to exceed $9,750 per filing |
Consultations by Fund management with respect to accounting or disclosure treatment of transactions or events and/or the actual or potential effect of final or proposed rules, standards or interpretations by the SEC, Financial Accounting Standards Board, or other regulatory or standard setting bodies. | √ | Not to exceed $8,000 during the Pre-Approval Period |
Seed capital audit and related review and issuance of consent on the N-2 registration statement | √ | Not to exceed $13,750 per audit |
Audit of summary portfolio of investments | √ | Not to exceed $525 per fund |
1 | For new Funds launched during the Pre-Approval Period, the fee ranges pre-approved will be the same as those for existing Funds, pro-rated in accordance with inception dates as provided in the auditors’ Proposal or any Engagement Letter covering the period at issue. Fees in the Engagement Letter will be controlling. |
Appendix B
Pre-Approved Audit-Related Services for the Pre-Approval Period January 1, 2016 through December 31, 2016
Service | |||
The Fund(s) | Fund Affiliates | Fee Range | |
Services related to Fund mergers (Excludes tax services - See Appendix C for tax services associated with Fund mergers) | √ | √ | Not to exceed $10,000 per merger |
Consultations by Fund management with respect to accounting or disclosure treatment of transactions or events and/or the actual or potential effect of final or proposed rules, standards or interpretations by the SEC, Financial Accounting Standards Board, or other regulatory or standard setting bodies. [Note: Under SEC rules some consultations may be “audit” services and others may be “audit-related” services.] | √ | Not to exceed $5,000 per occurrence during the Pre-Approval Period | |
Review of the Funds’ semi-annual and quarterly financial statements | √ | Not to exceed $2,525 per set of financial statements per fund | |
Reports to regulatory or government agencies related to the annual engagement | √ | Up to $5,000 per occurrence during the Pre-Approval Period | |
Regulatory compliance assistance | √ | √ | Not to exceed $5,000 per quarter |
Training courses | √ | Not to exceed $5,000 per course | |
For Prime Rate Trust, agreed upon procedures for quarterly reports to rating agencies | √ | Not to exceed $9,450 per quarter |
Appendix C
Pre-Approved Tax Services for the Pre-Approval Period January 1, 2016 through December 31, 2016
Service | |||
The Fund(s) | Fund Affiliates |
Fee Range | |
Preparation of federal and state income tax returns and federal excise tax returns for the Funds including assistance and review with excise tax distributions | √ | As presented to Audit Committee2 | |
Review of IRC Sections 851(b) and 817(h) diversification testing on a real-time basis | √ | As presented to Audit Committee2 | |
Assistance and advice regarding year-end reporting for 1099’s, as requested | √ | As presented to Audit Committee2 | |
Tax assistance and advice regarding statutory, regulatory or administrative developments | √ | √ | Not to exceed $5,000 for the Funds or for the Funds’ investment adviser during the Pre-Approval Period |
2 | For new Funds launched during the Pre-Approval Period, the fee ranges pre-approved will be the same as those for existing Funds, pro-rated in accordance with inception dates as provided in the auditors’ Proposal or any Engagement Letter covering the period at issue. Fees in the Engagement Letter will be controlling. |
Appendix C, continued
Service | |||
The Fund(s) | Fund Affiliates |
Fee Range | |
Tax training courses | √ | Not to exceed $5,000 per course during the Pre-Approval Period | |
Tax services associated with Fund mergers | √ | √ | Not to exceed $4,000 per fund per merger during the Pre-Approval Period |
Other tax-related assistance and consultation, including, without limitation, assistance in evaluating derivative financial instruments and international tax issues, qualification and distribution issues, and similar routine tax consultations. | √ | Not to exceed $120,000 during the Pre-Approval Period |
Appendix D
Pre-Approved Other Services for the Pre-Approval Period January 1, 2016 through December 31, 2016
Service | |||
The Fund(s) | Fund Affiliates | Fee Range | |
Agreed-upon procedures for Class B share 12b-1 programs | √ | Not to exceed $60,000 during the Pre-Approval Period | |
Security counts performed pursuant to Rule 17f-2 of the 1940 Act (i.e., counts for Funds holding securities with affiliated sub-custodians)
Cost to be borne 50% by the Funds and 50% by Voya Investments, LLC. |
√
|
√
|
Not to exceed $5,300 per Fund during the Pre-Approval Period |
Agreed upon procedures for 15 (c) FACT Books | √ | Not to exceed $50,000 during the Pre-Approval Period |
Appendix E
Prohibited Non-Audit Services
Dated: January 1, 2016 to December 31, 2016
· | Bookkeeping or other services related to the accounting records or financial statements of the Funds |
· | Financial information systems design and implementation |
· | Appraisal or valuation services, fairness opinions, or contribution-in-kind reports |
· | Actuarial services |
· | Internal audit outsourcing services |
· | Management functions |
· | Human resources |
· | Broker-dealer, investment adviser, or investment banking services |
· | Legal services |
· | Expert services unrelated to the audit |
· | Any other service that the Public Company Accounting Oversight Board determines, by regulation, is impermissible |
EXHIBIT A
VOYA ASIA PACIFIC HIGH DIVIDEND EQUITY INCOME FUND
VOYA BALANCED PORTFOLIO, INC.
VOYA EMERGING MARKETS HIGH DIVIDEND EQUITY FUND
VOYA EQUITY TRUST
VOYA FUNDS TRUST
VOYA GLOBAL ADVANTAGE AND PREMIUM OPPORTUNITY FUND
VOYA GLOBAL EQUITY DIVIDEND AND PREMIUM OPPORTUNITY FUND
VOYA INFRASTRUCTURE, INDUSTRIALS, AND MATERIALS FUND
VOYA INTERMEDIATE BOND PORTFOLIO
VOYA INTERNATIONAL HIGH DIVIDEND EQUITY INCOME FUND
VOYA INVESTORS TRUST
VOYA MONEY MARKET PORTFOLIO
VOYA MUTUAL FUNDS
VOYA PARTNERS, INC.
VOYA PRIME RATE TRUST
VOYA NATURAL RESOURCES EQUITY INCOME FUND
VOYA SENIOR INCOME FUND
VOYA SEPARATE PORTFOLIOS TRUST
VOYA SERIES FUND, INC.
VOYA STRATEGIC ALLOCATIONS PORTFOLIOS, INC.
VOYA VARIABLE FUNDS
VOYA VARIABLE INSURANCE TRUST
VOYA VARIABLE PORTFOLIOS INC,
VOYA VARIABLE PRODUCTS TRUST
(e)(2) | Percentage of services referred to in 4(b) — (4)(d) that were approved by the audit committee 100% of the services were approved by the audit committee. |
(f) | Percentage of hours expended attributable to work performed by other than full time employees of KPMG if greater than 50%. Not applicable. |
(g) | Non-Audit Fees: The following table presents (i) the aggregate non-audit fees (i.e., fees for audit-related, tax, and other services) billed to each Registrant by the independent registered public accounting firm for each Registrant's fiscal years ended February 29, 2016 and February 28, 2015; and (ii) the aggregate non-audit fees billed to the investment adviser, or any of its affiliates that provide ongoing services to the registrant, by the independent registered public accounting firm for the same time periods. |
Registrant/Investment Adviser | 2016 | 2015 | ||||||
Voya Global Equity Dividend and Premium Opportunity | $ | 13,616 | $ | 14,929 | ||||
Voya Investments, LLC (1) | $ | 178,050 | $ | 211,825 |
(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, Peter S. Drotch, Patrick W. Kenny, Joseph E. Obermeyer, and Roger B. Vincent. |
b. | Not applicable. |
c. |
Item 6. | Schedule of Investments |
Complete schedule of investments filed herein.
KPMG LLP | |
Two Financial Center | |
60 South Street | |