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Voya Multi-Manager International Equity Fund - Class I

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Class I: IIGIX
For more information call 1 (800) 334-3444
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Voya Multi-Manager International Equity Fund

A global approach to discovering long-term growth across asset classes.

About this Product

  • The Fund normally invests at least 65% of its total assets in common stocks and convertible securities of companies organized under the laws of, or with principal offices located in, a number of different countries outside of the United States, including companies in countries in emerging markets
  • The Fund does not focus its investments in a particular industry or country. The Fund may invest in companies of any market capitalization. The Fund may also invest in foreign issuers through depositary receipts or similar investment vehicles and may hold cash in U.S. dollars or foreign currencies
  • Baillie Gifford Overseas Limited, Polaris Capital Management, LLC, and Wellington Management Company, LLP provide day-to-day management of the Fund. The Sub-Advisers act independently of each other and use their own methodologies for selecting investments.

Investment Objective

The Fund seeks long-term growth of capital.

Performance

Average Annual Total Returns %

As of August 31, 2023

As of June 30, 2023

Most Recent Month EndMost Recent Quarter EndMost Recent Month EndMost Recent Quarter End
Most Recent Month EndYTD1 YR3 YR5 YR10 YRExpense Ratios
GrossNet
Net Asset Value+7.47+11.41+1.80+2.02+3.660.94%0.90%
With Sales Charge+7.47+11.41+1.80+2.02+3.66
Net Asset Value+10.18+14.75+6.08+2.51+4.210.94%0.90%
With Sales Charge+10.18+14.75+6.08+2.51+4.21
MSCI EAFE Index+10.87+17.92+6.05+4.14+4.93——
MSCI EAFE Index+11.67+18.77+8.93+4.39+5.41——

Inception Date - Class I:January 6, 2011

Current Maximum Sales Charge: 0.00%

The performance quoted represents past performance and does not guarantee future results. Current performance may be lower or higher than the performance information shown. The investment return and principal value of an investment in the Portfolio will fluctuate, so that your shares, when redeemed, may be worth more or less than their original cost. See above "Average Annual Total Returns %" for performance information current to the most recent month-end.

Returns-Based Characteristics

As of August 31, 2023

3 Year5 Year10 Year
Standard Deviation
Standard Deviation:

A measure of the degree to which an individual probability value varies from the distribution mean. The higher the number, the greater the risk.

19.7420.1416.27
Beta
Beta:

The sensitivity of a portfolio's returns to changes in the return of the market as measured by the index or benchmark that represents the market. A portfolio with a beta of 1.0 behaves exactly like the index. A beta less than 1.0 suggests lower risk than the index, while a beta greater than 1.0 indicates a risk level higher than the index.

1.061.101.05
R2
R2:

The proportion of the variation in a portfolio's returns that can be explained by the variability of the returns of an index. High R-squared (close to 1.0) is usually consistent with broad diversification.

0.940.950.94
Alpha
Alpha:

A measure of risk-adjusted performance; alpha reflects the difference between a portfolio's actual return and the return that could be expected give its risk as measured by beta.

-4.15-2.00-1.28
Sharpe Ratio
Sharpe Ratio:

A risk-adjusted measure calculated using standard deviation and excess return to determine reward per unit of risk. The higher the Sharpe ratio, the better the portfolio's historical risk-adjusted performance.

0.100.120.24
Information Ratio
Information Ratio:

The ratio of portfolio returns in excess of a market index to the variability of those excess returns; in effect, information ratio describes the value added by active management in relation to the risk taken to achieve those returns.

-0.90-0.43-0.32

Growth of a $10,000 Investment

For the period 09/30/2013 through 08/31/2023

Ending Value: $14,328.00

The performance quoted in the "Growth of a $10,000 Investment" chart represents past performance. Performance shown is without sales charges; had sales charges been deducted, performance would have been less. Ending value includes reinvestment of distributions.

Investment Team

View Fund Adviser/Sub Adviser

Portfolio Management Team

Voya Investments, LLC

Investment Adviser

Voya Investments, an Arizona limited liability company, serves as the investment adviser to the Fund. Voya Investments has overall responsibility for the management of the Fund. Voya Investments oversees all investment advisory and portfolio management services and assists in managing and supervising all aspects of the general day-to-day business activities and operations of the Fund, including custodial, transfer agency, dividend disbursing, accounting, auditing, compliance and related services. Voya Investments is registered with the SEC as an investment adviser. Voya Investments' principal office is located at 7337 East Doubletree Ranch Road, Suite 100, Scottsdale, Arizona 85258.

Wellington Management Company, LLP

Investment Sub-Adviser

Wellington Management Company LLP (“Wellington Management” or “Sub-Adviser”) is a Delaware limited liability partnership. Wellington Management is a professional investment counseling firm which provides services to investment companies, employee benefit plans, endowments, foundations, and other institutions. Wellington Management and its predecessor organizations have provided investment advisory services for over 80 years. Wellington Management is owned by the partners of Wellington Management Group LLP, a Massachusetts limited liability partnership. The principal address of Wellington Management is 280 Congress Street, Boston, Massachusetts 02210.

Baillie Gifford Overseas Limited

Investment Sub-Adviser

Baillie Gifford Overseas Limited (“BG Overseas” or “Sub-Adviser”) is a wholly-owned subsidiary of Baillie Gifford & Co., a Scottish investment company. Founded in 1908, Baillie Gifford & Co. manages money primarily for institutional clients. It is one of the largest independently owned investment management firms in the United Kingdom. The principal address of BG Overseas is Calton Square, 1 Greenside Row, Edinburgh, EH1 3AN, Scotland.

Polaris Capital Management, LLC

Investment Sub-Adviser

Polaris Capital Management, LLC (“Polaris” or “Sub-Adviser”), is a registered investment adviser whose principal address is located at 121 High Street, Boson, Massachusetts 02110.
Paul Zemsky

Paul Zemsky, CFA

Chief Investment Officer, Multi-Asset Strategies and Solutions

Years of Experience: 39

Years with Voya: 18

Paul Zemsky is the chief investment officer and founder of the Multi-Asset Strategies and Solutions Team (MASS) at Voya Investment Management. He is responsible for the firm’s suite of value-added, customized and off-the-shelf products and solutions that are supported by the team’s asset allocation, manager research, quantitative research, portfolio implementation and multi-manager capabilities. Paul also oversees two independent platforms that joined the firm as part of Voya’s acquisition of Allianz Global Investors U.S., the Income and Growth platform based in San Diego and the Equity platform based in San Francisco. Prior to joining Voya, he co-founded CaliberOne Private Funds Management, a macro hedge fund. Paul began his career at JPMorgan Investment Management, where he held a number of key positions, including head of investments for over $300 Billion of fixed income assets. Paul is a member of the firm’s Management Committee and a board member of Pomona Capital. He holds a dual degree in finance and electrical engineering from the Management and Technology Program at the University of Pennsylvania and is a CFA® Charterholder.
Lanyon Blair

Lanyon Blair, CFA, CAIA

Senior Vice President, Head of Manager Research and Selection

Years of Experience: 15

Years with Voya: 8

Lanyon Blair is a Head of Manager Research and Selection for Multi-Asset Strategies and Solutions (MASS) at Voya Investment Management. He is responsible for manager research and selection activities across equity, fixed income, real estate and commodities asset classes for all of the MASS group’s multi-manager products, including risk-based, target date, portable alpha and other asset class fund of funds solutions. Prior to joining Voya, he was an investment analyst at Wells Fargo, focusing on research and due diligence of equity, real estate and multi-asset managers. Prior to that, he was a research analyst with Fidelity Investments covering equity and real estate managers for Fidelity’s retirement platform. Lanyon began his career as a consultant with FactSet Research Systems, where he worked closely with equity, fixed income and real estate research teams. Lanyon earned an MA in economics from American University and BA degrees in economics and criminal justice from Indiana University. He is a CFA® Charterholder and a Chartered Alternative Investment Analyst®.
Barbara Reinhard

Barbara Reinhard, CFA

Managing Director, Head of Asset Allocation

Years of Experience: 30

Years with Voya: 7

Barbara Reinhard is the head of asset allocation for Multi-Asset Strategies and Solutions (MASS) at Voya Investment Management, responsible for strategic and tactical asset allocation decisions for the team’s multi-asset strategies. Prior to joining Voya, Barbara was the chief investment officer for Credit Suisse Private Bank in the Americas where she managed discretionary multi-asset portfolios and was a member of the global asset allocation and the pension investment committees. Prior to that, Barbara worked at Morgan Stanley, first in the fixed income division and later became the deputy chief investment strategist for the global wealth management division. Barbara earned a BA in economics from Trinity College and is a CFA® Charterholder.

Gerard Callahan

Gerard Callahan, Portfolio Manager, is head of the UK equity team and is a partner of Baillie Gifford & Co. where he has worked since 1991. Mr. Callahan is an Investment Manager and has been a member of the Portfolio Construction Group since 2007 and Chairman since 2010.

Iain Campbell

Iain Campbell is a Portfolio Manager on the Japanese team and a partner of Ballie Gifford & Co. Mr. Campbell has been a member of the Portfolio Construction Group since 2010. Before joining BG Overseas in 2004, he worked for Goldman Sachs from 2000 to 2002 in the investment banking division.

Mileva Milena

Mileva Milena, Portfolio Manager, in the UK Equity Team and partner of Baillie Gifford & Co. She joined BG Overseas in 2009 and has been a member of the International All Cap Portfolio Construction Group since 2022.

Stephen Paice

Stephen Paice, Portfolio Manager, joined BG Overseas in 2005 and heads up the European Equities strategy. Mr. Paice joined the International All Cap Portfolio Construction Group in July 2022.

Sophie Earnshaw

Sophie Earnshaw, CFA, Portfolio Manager, joined BG Overseas in 2010 and is an Investment Manager in the Emerging Markets Equity Team. Ms. Earnshaw joined the International All Cap Portfolio Construction Group in 2014.

Joe Faraday, CFA

Joe Faraday, CFA, Portfolio Manager, joined BG Overseas in 2002. Mr. Faraday has worked as an investment manager on the European, North American, Developed Asia, and Emerging Markets Equity teams. He has been a member of the Portfolio Construction Group since 2007.

Bernard R. Horn

Bernard R. Horn, Jr., Portfolio Manager, is the Founder, President and Chief Investment Officer of Polaris. Mr. Horn founded Polaris in 1995.

Sumanta Biswas

Sumanta Biswas, CFA, Portfolio Manager, and Vice President of Polaris joined Polaris in 2002 as an analyst.

Jason Crawshaw

Jason Crawshaw, Portfolio Manager, joined Polaris in 2014 as an analyst.

Bin Xiao

Bin Xiao, CFA, and Portfolio Manager, joined Polaris in 2006 as an analyst.

Nicolas M Choumenkovitch

Nicolas M. Choumenkovitch, Senior Managing Director and Equity Portfolio Manager. Mr. Choumenkovitch joined Wellington Management as an investment professional in 1995.

Tara Connolly Stilwell, CFA

Tara Connolly Stilwell, CFA, Senior Managing Director and Equity Portfolio Manager of Wellington Management is involved in portfolio management and securities analysis. Ms. Stilwell joined Wellington Management as an investment professional in 2008.

Michael A Bennett

Michael A. Bennett, managing director and Portfolio Manager/Analyst with Lazard Asset Management LLC (New York), is a Portfolio Manager/Analyst on various international and global equity teams. He joined Lazard in 1992. Currently, Mr. Bennett also coordinates the activities of Lazard Asset Management's Investment Council.

Disclosures

Principal Risks

All investing involves risks of fluctuating prices and the uncertainties of rates of return and yield inherent in investing. You could lose money on an investment in the Fund.   Foreign Investing does pose special risks including currency fluctuation, economic and political risks not found in investments that are solely domestic. Emerging Market stocks may be especially volatile. In exchange for higher growth potential, investing in stocks of Smaller Companies may entail greater price volatility and less liquidity than investing in stocks of larger companies. The Fund may use Derivatives, such as options and futures, which can be illiquid, may disproportionately increase losses and have a potentially large impact on Fund performance. Growth Stocks may be more volatile than value stocks due to their relatively high valuations, and growth investing may fall out of favor with investors. Prices of Value-Oriented Securities tend to correlate more closely with economic cycles than growth-oriented securities, they generally are more sensitive to changing economic conditions. Investment Model: A manager’s proprietary model may not adequately allow for existing or unforeseen market factors or the interplay between such factors.  Volatility management techniques may not always be successful in reducing volatility, may not protect against market declines, and may limit the Portfolio’s participation in market gains. Mistakes in the construction and implementation of the investment models may create errors or limitations that might go undetected.  There is no guarantee that the use of these investment models will result in effective investment decisions.  Other risks of the Fund include but are not limited to: Company; Currency; Initial Public Offerings; Investing through Stock Connect; Liquidity; Market; Market Capitalization; Other Investment Companies; Real Estate Companies and Real Estate Investment Trusts (“REITs”); and Securities Lending.

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