Commentary | 4Q22 Voya Global Advantage and Premium Opportunity Fund Focus on high income and total return through global value stocks and call options Strategy overview The Fund combines an actively-managed quantitative equity investment strategy with a call writing option strategy, seeking to create a diversified portfolio with enhanced total return potential and strong downside capture over a full market cycle. Performance For the quarter, the Voya Global Advantage and Premium Opportunity Fund (the Fund) provided a total return of 9.29% on a net asset value (NAV) basis and a total return of 7.92% on a market price basis. For the same period, the Fund’s reference index, the MSCI World Value Index, returned 14.74%. Equity portfolio For the quarterly reporting period, the equity sleeve of the Fund underperformed its reference index. All three of the primary return drivers for the sleeve (proprietary core model, beta and dividend yield) contributed, with the proprietary core model contributing the most, followed by beta and dividend yield. The Fund’s active industry exposures (which are a byproduct of stock selection) detracted as well as active individual stock exposures. Within the proprietary core model, three out of five indicators contributed (management, sentiment and ESG) while […]
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