Voya Investment Management (Voya IM), the asset management business of Voya Financial, Inc. (NYSE: VOYA) today announced the launch of its new multi manager series of collective investment trusts (“CITs”) designed for defined contribution (“DC”) retirement plans. V-ALT Multi-Manager Alternative Fixed Income and V-ALT Multi-Manager Alternative Equity will initially be available through advisor managed accounts on Voya’s Retirement platform. Global Trust Company (GTC) is the Trustee for the V-ALT CITs. GTC is an independent, fiduciary-focused trust company and recognized leader in designing and implementing proprietary Collective Investment Trusts (CITs).
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The new CITs bring together well-known managers within a single CIT structure, helping reduce manager concentration risk and return dispersion while at the same time combining scale, investment expertise and differentiated strategies that are largely unavailable in traditional public-only portfolios.
Voya Investment Management Co. LLC serves as non-discretionary investment adviser, advising on initial manager selection, portfolio design, and allocation recommendations. GTC serves as the Trustee and discretionary manager, retaining full authority over final investment decisions, implementation, and ongoing changes. This separation reinforces governance rigor and ensures fiduciary responsibilities are clearly defined and appropriately assigned.
“The Voya Alt CITs were designed to balance the potential for enhanced investment returns with the valuation transparency and other DC fiduciary needs,” said Chris Wilson, head of Voya IM’s Product and Strategy team. “As a result of our multi-manager approach and governance structure, our CITs are designed to potentially deliver more consistent outcomes for defined contribution investors.”
Voya’s investment team overseeing the underlying fund recommendations taps into the experience of both Voya’s Manager Research & Selection team as well as members of Voya’s Insurance Asset Management team who bring a long history of hiring alternative managers for Voya’s general account. Like other Voya multi-manager offerings, the team will provide investment and valuation oversight with the ability to recommend strategy and manager changes as market conditions evolve.
“When it comes to introducing investments like private credit, private equity and other alternatives into DC plans, we believe that professionally managed investment products, such as advisor managed accounts or a CIT or registered fund structures represent an appropriate starting point,” said Amy Vaillancourt, president, Voya Retirement. “Rather than place the burden on individual participants or a plan sponsor to decide if, when, or how much to allocate to less liquid investments, these decisions are made within a framework designed to balance opportunity with prudent risk management.”
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