Approach
The Large Cap Core-Value strategy seeks to outperform its benchmark over a full market cycle via an actively managed approach relying on fundamental research to capture the benefits of high excess capital yield and sustainable dividends.
Investment Objective
To outperform the S&P 500 Index over full market cyclesInvestment Philosophy
We believe:
- An investment strategy that captures the benefits of both high-dividend yield and dividend growth is the best way to outperform over various market cycles
- An experienced and specialized research team is critical to generating alpha from stock selection
- Portfolios built with active risk substantially focused on stock picking deliver a superior performance profile
Investment Process
Our disciplined, bottom-up investment process focuses on high-conviction stock selection. The process begins by identifying companies with strong capital returns prospects through the triangulation of excess capital yield, relative valuation and qualitative insights from our well-tenured analysts. Excess capital yield is a dynamic measure that isolates the "dry powder" available to management to facilitate value creation. Our sector specific analysts focus on the decomposition of excess capital yield and relative multiple deviation in conjunction with our proprietary multi-factor sector models. This allows our analysts to concentrate their efforts on the highest ranked stocks within their respective sectors while finding their highest conviction ideas through in-depth fundamental research and analysis. Portfolio construction is based on the attractiveness each stock, analyst/portfolio manager conviction, and active weights impact on relative risk exposure and relative factor exposures. Gross yield of the portfolio seeks to be at or above the yield of the S&P 500 Index.Performance
Performance
As of 10/31/24 | 1 Month | 3 Month | YTD | 1yr | 3yr | 5yr | 10yr | Since Inception (11/01/04) |
---|---|---|---|---|---|---|---|---|
Gross | -0.07 | 5.00 | 20.15 | 36.13 | 10.56 | 16.70 | 13.01 | 11.24 |
Net | -0.32 | 4.24 | 17.27 | 32.24 | 7.35 | 13.33 | 9.74 | 8.01 |
Index* | -0.91 | 3.66 | 20.97 | 38.02 | 9.08 | 15.27 | 13.00 | 10.58 |
* S&P 500 Index
Past performance does not guarantee future results.
Periods greater than one year are annualized. Performance data is considered final unless indicated as preliminary. Monthly performance is based on full GIPS Composite returns. Access the GIPS page for full composite details.
The Composite performance information represents the investment results of a group of fully discretionary accounts managed with the investment objective of outperforming the benchmark. Gross returns are presented after all transaction costs, but before management fees. Net-of-fees returns presented are calculated by subtracting a hypothetical maximum total wrap fee (estimated at 3.00% per annum) from the monthly gross-of-fees returns. The total wrap fee includes transaction costs, portfolio management, investment advisory, custodial and other administrative costs. Wrap fees vary amongst brokerage firms and may be negotiated based on account size and other factors.
Literature
Voya Large Cap Core SMA Representative Account
Date: October 15, 2024
Approved For: Financial Professional or Qualified Institutional Investor Use Only
Voya Large Cap Core Value SMA Strategy Brief - Merrill Lynch
Date: September 30, 2024
Approved For: Public Use Material
Voya Large Cap Core-Value SMA Quarterly Commentary - Merrill Lynch
Date: September 30, 2024
Approved For: Public Use Material
Investment Team
Vincent Costa, CFA
Chief Investment Officer, Equities
Years of Experience: 39
Years with Voya: 18
James Dorment, CFA
Co-Head of Fundamental Research and Portfolio Manager
Years of Experience: 29
Years with Voya: 16
Gregory Wachsman, CFA
Equity Analyst and Portfolio Manager
Years of Experience: 25
Years with Voya: 7
Disclosures
Principal Risk
The principal risks are generally those attributable to investing in stocks and related derivative instruments. Holdings are subject to market, issuer, and other risks, and their values may fluctuate. Market risk is the risk that securities or other instruments may decline in value due to factors affecting the securities markets or particular industries. Issuer risk is the risk that the value of a security or instrument may decline for reasons specific to the issuer, such as changes in its financial condition.