UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Form N-CSR
CERTIFIED SHAREHOLDER REPORT OF
REGISTERED MANAGEMENT INVESTMENT COMPANIES
Investment Company Act file number: 811-22051
Voya International High Dividend Equity Income Fund
(Exact name of registrant as specified in charter)
7337 East Doubletree Ranch Road, 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: March 1, 2016 to August 31, 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):
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| | E-Delivery Sign-up – details inside | |
| | This report is intended for existing current holders. It is not a prospectus. This information should be read carefully. | | |
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Go Paperless with E-Delivery!
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Sign up now for on-line prospectuses, fund reports, and proxy statements. In less than five minutes, you can help reduce paper mail and lower fund costs.
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Just go to www.voyainvestments.com, click on the E-Delivery icon from the home page, follow the directions and complete the quick 5 Steps to Enroll.
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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.
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Index
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Description
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| | Barclays High Yield Bond — 2% Issuer Constrained Composite Index | | | | An 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 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 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. | | |
| | MSCI All Country Asia Pacific ex-Japan® Index | | | | A free float-adjusted market capitalization weighted index designed to measure the equity market performance of Asia, excluding Japan. | | |
| | MSCI All Country World (ex-U.S.) IndexSM | | | | A free float-adjusted market capitalization index that is designed to measure equity market performance in global developed and emerging markets, excluding the U.S. It includes the reinvestment of dividends net of withholding taxes, but does not reflect fees, brokerage commissions or other expenses of investing. | | |
| | MSCI Europe® Index | | | | A free float-adjusted market capitalization weighted index designed to measure the equity market performance of the developed markets in Europe. | | |
| | 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 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 index that measures the performance of securities of approximately 500 large-capitalization companies whose securities are traded on major U.S. stock markets. | | |
Voya International High Dividend Equity Income Fund | Portfolio Managers’ Report |
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Geographic Diversification
as of August 31, 2016 (as a percentage of net assets) |
| |||
| | | | | |
| United Kingdom | | |
12.7%
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|
| China | | |
12.4%
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|
| United States | | |
11.9%
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|
| France | | |
8.2%
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| Australia | | |
7.8%
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| Switzerland | | |
7.0%
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| South Korea | | |
6.0%
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| India | | |
5.4%
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| Germany | | |
5.0%
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| Taiwan | | |
3.6%
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| Countries between 0.2% – 3.4%^ | | |
18.3%
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| Assets in Excess of Other Liabilities | | |
1.7%
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| Net Assets | | |
100.0%
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|
^
Includes 15 countries, which each represents 0.2% – 3.4% of net assets.
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Portfolio holdings are subject to change daily.
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• |
investing at least 80% of its managed assets in a portfolio of international dividend-producing securities or derivatives linked to such securities or indices that include such securities, which the sub-adviser believes will pay above-average, sustainable, dividends; and |
• |
selling call options on selected international, regional or country indices, and/or on equity securities and/or exchange-traded funds (“ETFs”). |
| Top Ten Holdings as of August 31, 2016 (as a percentage of net assets) | | |||
| | | | | |
| Cisco Systems, Inc. | | | 1.6% | |
| Royal Dutch Shell PLC - Class B | | | 1.5% | |
| GlaxoSmithKline PLC | | | 1.4% | |
| Samsung Electronics Co., Ltd. | | | 1.4% | |
| AIA Group Ltd. | | | 1.3% | |
| Novartis AG | | | 1.3% | |
| Wells Fargo & Co. | | | 1.3% | |
| Roche Holding AG | | | 1.3% | |
| China Mobile Ltd. | | | 1.2% | |
| Engie SA | | | 1.2% | |
| Portfolio holdings are subject to change daily. | |
Portfolio Managers’ Report | Voya International High Dividend Equity Income Fund |
| ASSETS: | | | |||||
| Investments in securities at fair value* | | | | $ | 56,708,068 | | |
| Cash | | | | | 1,069,393 | | |
| Foreign currencies at value** | | | | | 7,081 | | |
| Receivables: | | | |||||
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Investment securities sold
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| | | | 450,789 | | |
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Dividends
|
| | | | 114,415 | | |
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Foreign tax reclaims
|
| | | | 106,651 | | |
| Prepaid expenses | | | | | 506 | | |
| Other assets | | | | | 2,026 | | |
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Total assets
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| | | | 58,458,929 | | |
| LIABILITIES: | | | |||||
| Payable for investment securities purchased | | | | | 225,687 | | |
| Payable for investment management fees | | | | | 36,864 | | |
| Payable to trustees under the deferred compensation plan (Note 6) | | | | | 2,026 | | |
| Payable for trustee fees | | | | | 285 | | |
| Other accrued expenses and liabilities | | | | | 95,489 | | |
| Written options, at fair value^ | | | | | 415,284 | | |
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Total liabilities
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| | | | 775,635 | | |
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NET ASSETS
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| | | $ | 57,683,294 | | |
| NET ASSETS WERE COMPRISED OF: | | | |||||
| Paid-in capital | | | | $ | 92,523,355 | | |
| Distributions in excess of net investment income | | | | | (41,708) | | |
| Accumulated net realized loss | | | | | (28,497,082) | | |
| Net unrealized depreciation | | | | | (6,301,271) | | |
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NET ASSETS
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| | | $ | 57,683,294 | | |
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*
Cost of investments in securities
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| | | $ | 62,907,286 | | |
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**
Cost of foreign currencies
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| | | $ | 7,131 | | |
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^
Premiums received on written options
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| | | $ | 318,293 | | |
| Net assets | | | | $ | 57,683,294 | | |
| Shares authorized | | | | | unlimited | | |
| Par value | | | | $ | 0.010 | | |
| Shares outstanding | | | | | 8,407,364 | | |
| Net asset value | | | | $ | 6.86 | | |
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| INVESTMENT INCOME: | | | |||||
| Dividends, net of foreign taxes withheld* | | | | $ | 1,471,216 | | |
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Total investment income
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| | | | 1,471,216 | | |
| EXPENSES: | | | |||||
| Investment management fees | | | | | 316,255 | | |
| Transfer agent fees | | | | | 9,755 | | |
| Shareholder reporting expense | | | | | 14,720 | | |
| Professional fees | | | | | 32,880 | | |
| Custody and accounting expense | | | | | 43,354 | | |
| Trustee fees | | | | | 855 | | |
| Miscellaneous expense | | | | | 15,834 | | |
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Total expenses
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| | | | 433,653 | | |
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Net waived and reimbursed fees
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| | | | (73,754) | | |
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Net expenses
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| | | | 359,899 | | |
| Net investment income | | | | | 1,111,317 | | |
| REALIZED AND UNREALIZED GAIN (LOSS): | | | |||||
| Net realized gain (loss) on: | | | |||||
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Investments (net of Indian capital gains tax withheld^)
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| | | | (490,742) | | |
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Foreign currency related transactions
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| | | | 757 | | |
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Written options
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| | | | (445,055) | | |
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Net realized loss
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| | | | (935,040) | | |
| Net change in unrealized appreciation (depreciation) on: | | | |||||
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Investments (net of Indian capital gains tax accrued#)
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| | | | 6,720,875 | | |
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Foreign currency related transactions
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| | | | 9,256 | | |
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Written options
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| | | | (150,930) | | |
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Net change in unrealized appreciation (depreciation)
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| | | | 6,579,201 | | |
| Net realized and unrealized gain | | | | | 5,644,161 | | |
| Increase in net assets resulting from operations | | | |
$
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6,755,478
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*
Foreign taxes withheld
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| | | $ | 128,675 | | |
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^
Foreign taxes on sale of Indian investments
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| | | $ | 2,224 | | |
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#
Foreign taxes accrued on Indian investments
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| | | $ | 28,532 | | |
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Six Months Ended
August 31, 2016 |
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Year Ended
February 29, 2016 |
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FROM OPERATIONS: | | | | ||||||||||
Net investment income | | | | $ | 1,111,317 | | | | | $ | 1,682,696 | | |
Net realized loss | | | | | (935,040) | | | | | | (1,355,854) | | |
Net change in unrealized appreciation (depreciation) | | | | | 6,579,201 | | | | | | (11,203,127) | | |
Increase (decrease) in net assets resulting from operations | | | | | 6,755,478 | | | | | | (10,876,285) | | |
FROM DISTRIBUTIONS TO SHAREHOLDERS: | | | | | | | | | | | | | |
Net investment income | | | | | (1,139,222) | | | | | | (2,132,951) | | |
Return of capital | | | | | (2,340,616) | | | | | | (4,826,560) | | |
Total distributions | | | | | (3,479,838) | | | | | | (6,959,511) | | |
FROM CAPITAL SHARE TRANSACTIONS: | | | | ||||||||||
Reinvestment of distributions | | | | | 14,984 | | | | | | — | | |
| | | | | 14,984 | | | | | | — | | |
Net increase in net assets resulting from capital share transactions | | | | | 14,984 | | | | | | — | | |
Net increase (decrease) in net assets | | | | | 3,290,624 | | | | | | (17,835,796) | | |
NET ASSETS: | | | | ||||||||||
Beginning of year or period | | | | | 54,392,670 | | | | | | 72,228,466 | | |
End of year or period | | | | $ | 57,683,294 | | | | | $ | 54,392,670 | | |
Distributions in excess of net investment income at end of year or period | | | | $ | (41,708) | | | | | $ | (13,803) | | |
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Per share Operating Performance
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Ratios and
Supplemental Data |
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Income
(loss) from investment operations |
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Less Distributions
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Ratios to average
net assets |
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| | | Net asset value, beginning of year or period |
| | Net investment income gain (loss) | | | Net realized and unrealized gain (loss) |
| | Total from investment operations | | | From net investment income | | | From net realized gains | | | From return of capital | | | Total distributions | | | Net asset value, end of year or period |
| | Market value, end of year or period |
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Total investment return
at net asset value(1) |
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Total Investment return
at market value(2) |
| | Net assets, end of year or period |
| | Gross expenses prior to expense waiver(3) |
| | Net expenses after expense waiver(3)(4) |
| | Net investment income (loss) after expense waiver(3)(4) |
| | Portfolio turnover rate | | |||||||||||||||||||||||||||||||||||||||||||||||||||
Year or period ended |
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($)
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($)
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($)
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($)
|
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($)
|
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($)
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($)
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($)
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($)
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($)
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(%)
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(%)
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($000’s)
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(%)
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(%)
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(%)
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(%)
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08-31-16 | | | | | 6.47 | | | | | | 0.13• | | | | | | 0.67 | | | | | | 0.80 | | | | | | 0.13 | | | | | | — | | | | | | 0.28 | | | | | | 0.41 | | | | | | 6.86 | | | | | | 7.36 | | | | |
|
13.02
|
| | | |
|
36.21
|
| | | | | 57,683 | | | | | | 1.51 | | | | | | 1.25 | | | | | | 3.87 | | | | | | 23 | | |
02-29-16 | | | | | 8.59 | | | | | | 0.20 | | | | | | (1.49) | | | | | | (1.29) | | | | | | 0.25 | | | | | | — | | | | | | 0.58 | | | | | | 0.83 | | | | | | 6.47 | | | | | | 5.76 | | | | |
|
(15.26)(5)
|
| | | |
|
(19.80)
|
| | | | | 54,393 | | | | | | 1.44 | | | | | | 1.25 | | | | | | 2.59 | | | | | | 46 | | |
02-28-15 | | | | | 9.47 | | | | | | 0.22 | | | | | | (0.27) | | | | | | (0.05) | | | | | | 0.58 | | | | | | — | | | | | | 0.25 | | | | | | 0.83 | | | | | | 8.59 | | | | | | 8.08 | | | | |
|
(0.49)
|
| | | |
|
(4.07)
|
| | | | | 72,228 | | | | | | 1.42 | | | | | | 1.25 | | | | | | 2.34 | | | | | | 37 | | |
02-28-14 | | | | | 9.55 | | | | | | 0.25 | | | | | | 0.55 | | | | | | 0.80 | | | | | | 0.70 | | | | | | — | | | | | | 0.18 | | | | | | 0.88 | | | | | | 9.47 | | | | | | 9.24 | | | | |
|
9.07
|
| | | |
|
0.33
|
| | | | | 79,561 | | | | | | 1.48 | | | | | | 1.25 | | | | | | 2.67 | | | | | | 53 | | |
02-28-13 | | | | | 9.84 | | | | | | 0.23• | | | | | | 0.47 | | | | | | 0.70 | | | | | | 0.24 | | | | | | — | | | | | | 0.75 | | | | | | 0.99 | | | | | | 9.55 | | | | | | 10.13 | | | | |
|
7.89
|
| | | |
|
10.94
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| | | | | 80,095 | | | | | | 1.50 | | | | | | 1.26 | | | | | | 2.53 | | | | | | 94 | | |
02-29-12 | | | | | 11.16 | | | | | | 0.30• | | | | | | (0.53) | | | | | | (0.23) | | | | | | 0.68 | | | | | | — | | | | | | 0.41 | | | | | | 1.09 | | | | | | 9.84 | | | | | | 10.15 | | | | |
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(1.66)
|
| | | |
|
(7.01)
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| | | | | 82,211 | | | | | | 1.46 | | | | | | 1.26 | | | | | | 3.02 | | | | | | 94 | | |
02-28-11 | | | | | 10.52 | | | | | | 0.26 | | | | | | 1.58 | | | | | | 1.84 | | | | | | 1.20 | | | | | | — | | | | | | — | | | | | | 1.20 | | | | | | 11.16 | | | | | | 12.17 | | | | |
|
18.22
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|
11.30
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| | | | | 92,552 | | | | | | 1.38 | | | | | | 1.25 | | | | | | 2.44 | | | | | | 99 | | |
02-28-10 | | | | | 8.12 | | | | | | 0.25 | | | | | | 3.96 | | | | | | 4.21 | | | | | | 0.20 | | | | | | — | | | | | | 1.61 | | | | | | 1.81 | | | | | | 10.52 | | | | | | 12.19 | | | | |
|
51.96
|
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|
86.17
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| | | | | 86,217 | | | | | | 1.41 | | | | | | 1.25 | | | | | | 2.47 | | | | | | 55 | | |
02-28-09 | | | | | 16.72 | | | | | | 0.57• | | | | | | (7.22) | | | | | | (6.65) | | | | | | 0.47 | | | | | | — | | | | | | 1.48 | | | | | | 1.95 | | | | | | 8.12 | | | | | | 7.68 | | | | |
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(41.94)
|
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(43.74)
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| | | | | 65,793 | | | | | | 1.39 | | | | | | 1.25 | | | | | | 4.31 | | | | | | 81 | | |
09-25-07(6) - 02-29-08 |
| | | | 19.06(7) | | | | | | 0.10 | | | | | | (1.79) | | | | | | (1.69) | | | | | | 0.25 | | | | | | 0.17 | | | | | | 0.23 | | | | | | 0.65 | | | | | | 16.72 | | | | | | 16.32 | | | | |
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(8.68)
|
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(15.06)
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| | | | | 135,902 | | | | | | 1.26 | | | | | | 1.24 | | | | | | 1.32 | | | | | | 42 | | |
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August 31,
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2017
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2018
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2019
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Total
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| $151,600 | | | | $ | 119,595 | | | | | $ | 140,656 | | | | | $ | 411,851 | | |
| | |
Number of
Contracts |
| |
Premiums
Received |
| ||||||
Balance at 02/29/2016 | | | | | 9,510,430 | | | | | $ | 465,476 | | |
Options Written | | | | | 54,160,050 | | | | | | 2,299,296 | | |
Options Expired | | | | | (9,319,210) | | | | | | (642,129) | | |
Options Terminated in Closing Purchase Transactions
|
| | | | (45,941,890) | | | | | | (1,804,350) | | |
Balance at 08/31/2016 | | | | | 8,409,380 | | | | | $ | 318,293 | | |
Year or
period ended |
| |
Reinvestment
of distributions |
| |
Net increase
in shares outstanding |
| |
Reinvestment
of distributions |
| |
Net
increase |
| ||||||||||||
|
#
|
| |
#
|
| |
($)
|
| |
($)
|
| ||||||||||||||
8/31/2016 | | | | | 2,158 | | | | | | 2,158 | | | | | | 14,984 | | | | | | 14,984 | | |
2/29/2016 | | | | | — | | | | | | — | | | | | | — | | | | | | — | | |
|
Tax Year Ended
December 31, 2015 |
| ||||||
|
Ordinary
Income |
| |
Return
of Capital |
| |||
|
$2,156,337
|
| | | $ | 4,803,174 | | |
|
Post-October
Capital Losses Deferred |
| |
Unrealized
Appreciation/ (Depreciation) |
| |
Short-term
Capital Loss Carryforwards |
| |
Expiration
|
| |||||||||
|
$(1,122,961)
|
| | | $ | (9,702,276) | | | | | $ | (25,087,050) | | | | | | 2017 | | |
|
Per Share
Amount |
| |
Declaration
Date |
| |
Payable
Date |
| |
Record
Date |
| |||||||||
|
$0.069
|
| | | | 8/15/2016 | | | | | | 9/15/2016 | | | | | | 9/6/2016 | | |
|
$0.069
|
| | | | 9/15/2016 | | | | | | 10/17/2016 | | | | | | 10/5/2016 | | |
Voya International High Dividend | SUMMARY PORTFOLIO OF INVESTMENTS |
Equity Income Fund | as of August 31, 2016 (Unaudited) |
|
Shares
|
| |
Value
|
| |
Percentage
of Net Assets |
| ||||||||||||
| COMMON STOCK: 97.2% | | ||||||||||||||||||
| | | | | | | Australia: 7.8% | | ||||||||||||
| | | 31,909 | | | | Australia & New Zealand Banking Group Ltd. |
| | | $ | 643,810 | | | | | | 1.1 | | |
| | | 14,234 | | | | Rio Tinto Ltd. | | | | | 509,209 | | | | | | 0.9 | | |
| | | 31,187 | | | | Westpac Banking Corp. | | | | | 689,347 | | | | | | 1.2 | | |
| | | 1,146,592 | | | | Other Securities | | | | | 2,641,333 | | | | | | 4.6 | | |
| | | | | | | | | | | | 4,483,699 | | | | | | 7.8 | | |
| | | | | | | Austria: 0.4% | | ||||||||||||
| | | 7,732 | | | | Other Securities | | | |
|
217,184
|
| | | |
|
0.4
|
| |
| | | | | | | Belgium: 0.2% | | ||||||||||||
| | | 3,623 | | | | Other Securities | | | |
|
125,631
|
| | | |
|
0.2
|
| |
| | | | | | | China: 12.4% | | ||||||||||||
| | | 7,095 | @ | | Alibaba Group Holding Ltd. ADR |
| | | | 689,563 | | | | | | 1.2 | | | |
| | | 891,380 | | | | China Construction Bank | | | | | 666,565 | | | | | | 1.2 | | |
| | | 57,500 | | | | China Mobile Ltd. | | | | | 708,344 | | | | | | 1.2 | | |
| | | 884,383 | | | | Industrial & Commercial Bank of China |
| | | | 562,539 | | | | | | 1.0 | | |
| | | 5,181,267 | | | | Other Securities | | | | | 4,523,461 | | | | | | 7.8 | | |
| | | | | | | | | | | | 7,150,472 | | | | | | 12.4 | | |
| | | | | | | Denmark: 0.5% | | ||||||||||||
| | | 201 | | | | Other Securities | | | |
|
300,688
|
| | | |
|
0.5
|
| |
| | | | | | | Finland: 0.3% | | ||||||||||||
| | | 31,188 | | | | Other Securities | | | |
|
175,913
|
| | | |
|
0.3
|
| |
| | | | | | | France: 8.2% | | ||||||||||||
| | | 26,686 | | | | AXA S.A. | | | | | 561,667 | | | | | | 1.0 | | |
| | | 10,397 | | | | BNP Paribas | | | | | 530,979 | | | | | | 0.9 | | |
| | | 15,931 | | | | Carrefour S.A. | | | | | 401,997 | | | | | | 0.7 | | |
| | | 29,082 | | | | Orange SA | | | | | 443,323 | | | | | | 0.8 | | |
| | | 44,104 | | | | Engie SA | | | | | 704,850 | | | | | | 1.2 | | |
| | | 6,716 | | | | Sanofi | | | | | 518,249 | | | | | | 0.9 | | |
| | | 39,319 | | | | Other Securities | | | | | 1,585,725 | | | | | | 2.7 | | |
| | | | | | | | | | | | 4,746,790 | | | | | | 8.2 | | |
| | | | | | | Germany: 5.0% | | ||||||||||||
| | | 6,523 | | | | Daimler AG | | | | | 451,528 | | | | | | 0.8 | | |
| | | 21,311 | | | | Deutsche Post AG | | | | | 673,283 | | | | | | 1.2 | | |
| | | 24,557 | | | | Deutsche Telekom AG | | | | | 409,643 | | | | | | 0.7 | | |
| | | 2,807 | | | | Muenchener Rueckversicherungs- Gesellschaft AG |
| | | | 506,890 | | | | | | 0.9 | | |
| | | 7,324 | | | | Other Securities | | | | | 844,869 | | | | | | 1.4 | | |
| | | | | | | | | | | | 2,886,213 | | | | | | 5.0 | | |
|
Shares
|
| |
Value
|
| |
Percentage
of Net Assets |
| ||||||||||||
| COMMON STOCK: (continued) | | ||||||||||||||||||
| | | | | | | Hong Kong: 3.3% | | ||||||||||||
| | | 118,040 | | | | AIA Group Ltd. | | | | $ | 743,436 | | | | | | 1.3 | | |
| | | 3,447,326 | | | | Other Securities | | | | | 1,141,303 | | | | | | 2.0 | | |
| | | | | | | | | | | | 1,884,739 | | | | | | 3.3 | | |
| | | | | | | India: 5.4% | | ||||||||||||
| | | 612,317 | | | | Other Securities | | | |
|
3,108,615
|
| | | |
|
5.4
|
| |
| | | | | | | Indonesia: 0.3% | | ||||||||||||
| | | 219,033 | | | | Other Securities | | | |
|
158,720
|
| | | |
|
0.3
|
| |
| | | | | | | Ireland: 0.2% | | ||||||||||||
| | | 3,930 | | | | Other Securities | | | |
|
132,084
|
| | | |
|
0.2
|
| |
| | | | | | | Italy: 1.6% | | ||||||||||||
| | | 128,914 | | | | Enel S.p.A. | | | | | 569,662 | | | | | | 1.0 | | |
| | | 17,833 | | | | Other Securities | | | | | 345,223 | | | | | | 0.6 | | |
| | | | | | | | | | | | 914,885 | | | | | | 1.6 | | |
| | | | | | | Macau: 0.5% | | ||||||||||||
| | | 80,635 | | | | Other Securities | | | |
|
316,122
|
| | | |
|
0.5
|
| |
| | | | | | | Malaysia: 1.5% | | ||||||||||||
| | | 942,628 | | | | Other Securities | | | |
|
868,319
|
| | | |
|
1.5
|
| |
| | | | | | | Netherlands: 2.7% | | ||||||||||||
| | | 13,934 | # | | ABN AMRO Group NV | | | | | 286,593 | | | | | | 0.5 | | | |
| | | 5,713 | | | | Koninklijke DSM NV | | | | | 398,775 | | | | | | 0.7 | | |
| | | 33,232 | | | | Royal Dutch Shell PLC - Class B |
| | | | 845,983 | | | | | | 1.5 | | |
| | | | | | | | | | | | 1,531,351 | | | | | | 2.7 | | |
| | | | | | | Singapore: 0.5% | | ||||||||||||
| | | 234,700 | | | | Other Securities | | | |
|
309,859
|
| | | |
|
0.5
|
| |
| | | | | | | South Korea: 4.9% | | ||||||||||||
| | | 552 | | | | Samsung Electronics Co., Ltd. |
| | | | 800,659 | | | | | | 1.4 | | |
| | | 87,939 | | | | Other Securities | | | | | 2,052,287 | | | | | | 3.5 | | |
| | | | | | | | | | | | 2,852,946 | | | | | | 4.9 | | |
| | | | | | | Spain: 3.4% | | ||||||||||||
| | | 25,379 | | | |
Abertis Infraestructuras S.A.
|
| | | | 393,170 | | | | | | 0.7 | | |
| | | 53,125 | @ | | Telefonica S.A. | | | | | 536,021 | | | | | | 0.9 | | | |
| | | 139,302 | | | | Other Securities | | | | | 1,033,279 | | | | | | 1.8 | | |
| | | | | | | | | | | | 1,962,470 | | | | | | 3.4 | | |
| | | | | | | Sweden: 2.6% | | ||||||||||||
| | | 34,293 | | | |
Svenska Handelsbanken AB
|
| | | | 441,955 | | | | | | 0.7 | | |
| | | 47,858 | | | | Volvo AB - B Shares | | | | | 513,741 | | | | | | 0.9 | | |
| | | 78,524 | | | | Other Securities | | | | | 562,902 | | | | | | 1.0 | | |
| | | | | | | | | | | | 1,518,598 | | | | | | 2.6 | | |
Voya International High Dividend | SUMMARY PORTFOLIO OF INVESTMENTS |
Equity Income Fund | as of August 31, 2016 (Unaudited) (continued) |
|
Shares
|
| |
Value
|
| |
Percentage
of Net Assets |
| ||||||||||||
| COMMON STOCK: (continued) | | ||||||||||||||||||
| | | | | | | Switzerland: 7.0% | | ||||||||||||
| | | 9,829 | | | | LafargeHolcim Ltd. | | | | $ | 521,851 | | | | | | 0.9 | | |
| | | 4,801 | | | | Nestle S.A. | | | | | 382,605 | | | | | | 0.7 | | |
| | | 9,351 | | | | Novartis AG | | | | | 736,513 | | | | | | 1.3 | | |
| | | 2,955 | | | | Roche Holding AG | | | | | 721,316 | | | | | | 1.3 | | |
| | | 28,198 | | | | UBS Group AG | | | | | 408,637 | | | | | | 0.7 | | |
| | | 1,820 | | | | Zurich Insurance Group AG | | | | | 466,045 | | | | | | 0.8 | | |
| | | 14,401 | | | | Other Securities | | | | | 777,778 | | | | | | 1.3 | | |
| | | | | | | | | | | | 4,014,745 | | | | | | 7.0 | | |
| | | | | | | Taiwan: 3.6% | | ||||||||||||
| | | 120,363 | | | | Taiwan Semiconductor Manufacturing Co., Ltd. |
| | | | 668,422 | | | | | | 1.2 | | |
| | | 1,050,892 | | | | Other Securities | | | | | 1,391,514 | | | | | | 2.4 | | |
| | | | | | | | | | | | 2,059,936 | | | | | | 3.6 | | |
| | | | | | | Thailand: 0.3% | | ||||||||||||
| | | 14,900 | | | | Other Securities | | | |
|
149,727
|
| | | |
|
0.3
|
| |
| | | | | | | United Kingdom: 12.7% | | ||||||||||||
| | | 39,003 | | | | GlaxoSmithKline PLC | | | | | 839,546 | | | | | | 1.4 | | |
| | | 36,115 | | | | HSBC Holdings PLC (GBP) | | | | | 268,511 | | | | | | 0.5 | | |
| | | 42,800 | | | | HSBC Holdings PLC (HKD) | | | | | 317,516 | | | | | | 0.5 | | |
| | | 131,035 | | | | J Sainsbury PLC | | | | | 413,510 | | | | | | 0.7 | | |
| | | 97,541 | | | | Kingfisher PLC | | | | | 475,712 | | | | | | 0.8 | | |
| | | 13,095 | | | | Rio Tinto PLC | | | | | 394,194 | | | | | | 0.7 | | |
| | | 206,515 | | | | Vodafone Group PLC | | | | | 623,189 | | | | | | 1.1 | | |
| | | 761,877 | | | | Other Securities | | | | | 4,014,502 | | | | | | 7.0 | | |
| | | | | | | | | | | | 7,346,680 | | | | | | 12.7 | | |
| | | | | | | United States: 11.9% | | ||||||||||||
| | | 15,774 | | | | AT&T, Inc. | | | | | 644,841 | | | | | | 1.1 | | |
| | | 28,497 | | | | Cisco Systems, Inc. | | | | | 895,946 | | | | | | 1.6 | | |
| | | 13,879 | | | | Coach, Inc. | | | | | 529,900 | | | | | | 0.9 | | |
| | | 15,257 | | | | Coca-Cola Co. | | | | | 662,611 | | | | | | 1.1 | | |
| | | 5,306 | | | | Cummins, Inc. | | | | | 666,487 | | | | | | 1.2 | | |
| | | 11,556 | | | | Dow Chemical Co. | | | | | 619,864 | | | | | | 1.1 | | |
| | | 8,027 | | | | Gilead Sciences, Inc. | | | | | 629,156 | | | | | | 1.1 | | |
| | | 6,496 | | | | Occidental Petroleum Corp. | | | | | 499,218 | | | | | | 0.9 | | |
| | | 2,523 | | | | Simon Property Group, Inc. | | | | | 543,631 | | | | | | 0.9 | | |
| | | 7,502 | | | | Valero Energy Corp. | | | | | 415,236 | | | | | | 0.7 | | |
| | | 14,383 | | | | Wells Fargo & Co. | | | | | 730,656 | | | | | | 1.3 | | |
| | | | | | | | | | | | 6,837,546 | | | | | | 11.9 | | |
| | | | | | | Total Common Stock (Cost $62,437,407) |
| | |
|
56,053,932
|
| | | |
|
97.2
|
| |
|
|
Shares
|
| |
Value
|
| |
Percentage
of Net Assets |
| ||||||||||||
| PREFERRED STOCK: 1.1% | | ||||||||||||||||||
| | | | | | | South Korea: 1.1% | | ||||||||||||
| | | 317 | | | | Samsung Electronics Co., Ltd. - Pref |
| | | $ | 375,952 | | | | | | 0.6 | | |
| | | 3,127 | | | | Other Securities | | | | | 278,184 | | | | | | 0.5 | | |
| | | | | | | Total Preferred Stock (Cost $469,879) |
| | |
|
654,136
|
| | | |
|
1.1
|
| |
| | | | | | | Total Investments in Securities (Cost $62,907,286) |
| | | $ | 56,708,068 | | | | | | 98.3 | | |
| | | | | | | Assets in Excess of Other Liabilities |
| | | | 975,226 | | | | | | 1.7 | | |
| | | | | | | Net Assets | | | | $ | 57,683,294 | | | | | | 100.0 | | |
|
| Gross Unrealized Appreciation | | | | $ | 3,470,285 | | |
| Gross Unrealized Depreciation | | | | | (9,679,028) | | |
| Net Unrealized Depreciation | | | | $ | (6,208,743) | | |
|
Sector Diversification
|
| |
Percentage of
Net Assets |
| |||
Financials | | | | | 22.3% | | |
Industrials | | | | | 11.4 | | |
Information Technology | | | | | 9.9 | | |
Consumer Staples | | | | | 8.4 | | |
Consumer Discretionary | | | | | 8.0 | | |
Telecommunication Services | | | | | 7.8 | | |
Health Care | | | | | 7.6 | | |
Energy | | | | | 7.3 | | |
Materials | | | | | 6.7 | | |
Utilities | | | | | 5.5 | | |
Real Estate | | | | | 3.4 | | |
Assets in Excess of Other Liabilities | | | | | 1.7 | | |
Net Assets | | | | | 100.0% | | |
|
Voya International High Dividend | SUMMARY PORTFOLIO OF INVESTMENTS |
Equity Income Fund | as of August 31, 2016 (Unaudited) (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 August 31, 2016 |
| ||||||||||||
Asset Table | | | | | | ||||||||||||||||||||
Investments, at fair value | | | | | | ||||||||||||||||||||
Common Stock | | | | | | ||||||||||||||||||||
Australia
|
| | | $ | — | | | | | $ | 4,483,699 | | | | | $ | — | | | | | $ | 4,483,699 | | |
Austria
|
| | | | — | | | | | | 217,184 | | | | | | — | | | | | | 217,184 | | |
Belgium
|
| | | | — | | | | | | 125,631 | | | | | | — | | | | | | 125,631 | | |
China
|
| | | | 689,563 | | | | | | 6,460,909 | | | | | | — | | | | | | 7,150,472 | | |
Denmark
|
| | | | — | | | | | | 300,688 | | | | | | — | | | | | | 300,688 | | |
Finland
|
| | | | — | | | | | | 175,913 | | | | | | — | | | | | | 175,913 | | |
France
|
| | | | — | | | | | | 4,746,790 | | | | | | — | | | | | | 4,746,790 | | |
Germany
|
| | | | — | | | | | | 2,886,213 | | | | | | — | | | | | | 2,886,213 | | |
Hong Kong
|
| | | | — | | | | | | 1,884,739 | | | | | | — | | | | | | 1,884,739 | | |
India
|
| | | | — | | | | | | 3,108,615 | | | | | | — | | | | | | 3,108,615 | | |
Indonesia
|
| | | | 2,287 | | | | | | 156,433 | | | | | | — | | | | | | 158,720 | | |
Ireland
|
| | | | — | | | | | | 132,084 | | | | | | — | | | | | | 132,084 | | |
Italy
|
| | | | — | | | | | | 914,885 | | | | | | — | | | | | | 914,885 | | |
Macau
|
| | | | — | | | | | | 316,122 | | | | | | — | | | | | | 316,122 | | |
Malaysia
|
| | | | 593,946 | | | | | | 274,373 | | | | | | — | | | | | | 868,319 | | |
Netherlands
|
| | | | — | | | | | | 1,531,351 | | | | | | — | | | | | | 1,531,351 | | |
Singapore
|
| | | | — | | | | | | 309,859 | | | | | | — | | | | | | 309,859 | | |
South Korea
|
| | | | — | | | | | | 2,852,946 | | | | | | — | | | | | | 2,852,946 | | |
Spain
|
| | | | — | | | | | | 1,962,470 | | | | | | — | | | | | | 1,962,470 | | |
Sweden
|
| | | | — | | | | | | 1,518,598 | | | | | | — | | | | | | 1,518,598 | | |
Switzerland
|
| | | | — | | | | | | 4,014,745 | | | | | | — | | | | | | 4,014,745 | | |
Taiwan
|
| | | | — | | | | | | 2,059,936 | | | | | | — | | | | | | 2,059,936 | | |
Thailand
|
| | | | — | | | | | | 149,727 | | | | | | — | | | | | | 149,727 | | |
United Kingdom
|
| | | | — | | | | | | 7,346,680 | | | | | | — | | | | | | 7,346,680 | | |
United States
|
| | | | 6,837,546 | | | | | | — | | | | | | — | | | | | | 6,837,546 | | |
Total Common Stock | | | | | 8,123,342 | | | | | | 47,930,590 | | | | | | — | | | | | | 56,053,932 | | |
Preferred Stock | | | | | — | | | | | | 654,136 | | | | | | — | | | | | | 654,136 | | |
Total Investments, at fair value | | | | $ | 8,123,342 | | | | | $ | 48,584,726 | | | | | $ | — | | | | | $ | 56,708,068 | | |
Liabilities Table | | | | | | ||||||||||||||||||||
Other Financial Instruments+ | | | | | | ||||||||||||||||||||
Written Options | | | | $ | — | | | | | $ | (415,284) | | | | | $ | — | | | | | $ | (415,284) | | |
Total Liabilities | | | | $ | — | | | | | $ | (415,284) | | | | | $ | — | | | | | $ | (415,284) | | |
|
Voya International High Dividend | SUMMARY PORTFOLIO OF INVESTMENTS |
Equity Income Fund | as of August 31, 2016 (Unaudited) (continued) |
Number of Contracts |
| |
Counterparty
|
| |
Description
|
| |
Exercise
Price |
| |
Expiration
Date |
| |
Premiums
Received |
| |
Fair Value
|
| | | |||||||||||||
Options on Indices | | | | |||||||||||||||||||||||||||||||
800
|
| | Morgan Stanley | | | Call on S&P/ASX 200 Index | | |
5,452.470 AUD
|
| | | | 09/01/16 | | | | | $ | 51,840 | | | | | $ | (3,925) | | | | | ||||
1,670
|
| | Morgan Stanley | | | Call on EURO STOXX 50® Index | | |
2,928.386 EUR
|
| | | | 09/01/16 | | | | | | 111,960 | | | | | | (174,762) | | | | | ||||
610
|
| |
Goldman Sachs & Co.
|
| | Call on FTSE 100 Index | | |
6,688.323 GBP
|
| | | | 09/01/16 | | | | | | 73,549 | | | | | | (74,862) | | | | | ||||
700
|
| |
Goldman Sachs & Co.
|
| | Call on Hang Seng Index | | |
21,956.030 HKD
|
| | | | 09/01/16 | | | | | | 34,483 | | | | | | (91,946) | | | | | ||||
8,400,000
|
| | Morgan Stanley | | |
Call on Korea Stock Exchange KOSPI 200 Index
|
| |
250.126 KRW
|
| | | | 09/01/16 | | | | | | 21,184 | | | | | | (51,003) | | | | | ||||
5,600
|
| | Societe Generale | | |
Call on Taiwan Stock Exchange Weighted Index
|
| |
8,963.000 TWD
|
| | | | 09/01/16 | | | | | | 25,277 | | | | | | (18,786) | | | | | ||||
Total Written OTC Options
|
| | | | | | | | | | | | | | | $ | 318,293 | | | | | $ | (415,284) | | | | | |||||||
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Derivatives not accounted for as hedging instruments
|
| |
Location on Statement
of Assets and Liabilities |
| |
Fair Value
|
| |||
Liability Derivatives | | | | |||||||
Equity contracts | | |
Written options, at fair value
|
| | | $ | 415,284 | | |
Total Liability Derivatives | | | | | | |
$
|
415,284
|
| |
|
| | |
Amount of Realized Gain or (Loss) on
Derivatives Recognized in Income |
| |||
Derivatives not accounted for as hedging instruments
|
| |
Written options
|
| |||
Equity contracts | | | | $ | (445,055) | | |
Total
|
| | | $ | (445,055) | | |
|
| | |
Change in Unrealized Appreciation or
(Depreciation) on Derivatives Recognized in Income |
| |||
Derivatives not accounted for as hedging instruments
|
| |
Written options
|
| |||
Equity contracts | | | | $ | (150,930) | | |
Total | | | |
$
|
(150,930)
|
| |
|
| | |
Goldman
Sachs & Co. |
| |
Morgan
Stanley |
| |
Societe
Generale |
| |
Totals
|
| ||||||||||||
Liabilities: | | | | | | ||||||||||||||||||||
Written options | | | | $ | 166,808 | | | | | $ | 229,690 | | | | | $ | 18,786 | | | | | $ | 415,284 | | |
Total Liabilities
|
| | | $ | 166,808 | | | | | $ | 229,690 | | | | | $ | 18,786 | | | | | $ | 415,284 | | |
Net OTC derivative instruments by counterparty, at fair value
|
| | | $ | (166,808) | | | | | $ | (229,690) | | | | | $ | (18,786) | | | | | $ | (415,284) | | |
Total collateral pledged by the Fund/(Received from counterparty)
|
| | | $ | — | | | | | $ | — | | | | | $ | — | | | | | $ | — | | |
Net Exposure(1)
|
| | | $ | (166,808) | | | | | $ | (229,690) | | | | | $ | (18,786) | | | | | $ | (415,284) | | |
|
Voya International High Dividend | SUMMARY PORTFOLIO OF INVESTMENTS |
Equity Income Fund | as of August 31, 2016 (Unaudited) (continued) |
| Supplemental Call Option Statistics as of August 31, 2016: | | | ||
| % of Total Net Assets against which calls written | | |
34.53%
|
|
| Average Days to Expiration at time written | | |
27 days
|
|
| Average Call Moneyness* at time written | | |
ATM
|
|
| Premiums received for calls | | |
$ 318,293
|
|
| Value of calls | | |
$ (415,284)
|
|
|
Class III
Trustees |
| | | | |
Proposal
|
| |
Shares voted
for |
| |
Shares voted
against or withheld |
| |
Shares
abstained |
| |
Broker
non-vote |
| |
Total Shares
Voted |
| ||||||||||||||||||
| | | |
Voya International High Dividend Equity Income Fund
|
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| | | | John V. Boyer | | | |
|
1*
|
| | | | | 5,792,806.780 | | | | | | 728,558.000 | | | | | | 0.000 | | | | | | 0.000 | | | | | | 6,521,364.780 | | |
| | | | Patricia W. Chadwick | | | |
|
1*
|
| | | | | 5,737,897.780 | | | | | | 783,467.000 | | | | | | 0.000 | | | | | | 0.000 | | | | | | 6,521,364.780 | | |
| | | | Sheryl K. Pressler | | | |
|
1*
|
| | | | | 5,748,927.780 | | | | | | 772,437.000 | | | | | | 0.000 | | | | | | 0.000 | | | | | | 6,521,364.780 | | |
| | | | Christopher P. Sullivan | | | |
|
1*
|
| | | | | 5,796,377.780 | | | | | | 724,987.000 | | | | | | 0.000 | | | | | | 0.000 | | | | | | 6,521,364.780 | | |
|
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-16 | | | 15-Apr-16 | |
| 15-Apr-16 | | | 2-May-16 | | | 4-May-16 | | | 16-May-16 | |
| 16-May-16 | | | 1-Jun-16 | | | 3-Jun16 | | | 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 | |
Item 2. Code of Ethics.
Not required for semi-annual filing.
Item 3. Audit Committee Financial Expert.
Not required for semi-annual filing.
Item 4. Principal Accountant Fees and Services.
Not required for semi-annual filing.
Item 5. Audit Committee of Listed Registrants.
Not required for semi-annual filing.
Item 6. Schedule of Investments.
Complete schedule of investments filed herein.
Voya International High Dividend Equity Income Fund |
PORTFOLIO OF INVESTMENTS as of August 31, 2016 (Unaudited) |
Shares | Value | Percentage
of Net Assets | |||||||||||||
COMMON STOCK: 97.2% | |||||||||||||||
Australia: 7.8% | |||||||||||||||
31,909 | Australia & New Zealand Banking Group Ltd. | 643,810 | 1 .1 | ||||||||||||
42,582 | Coca-Cola Amatil Ltd. | 312,460 | 0 .5 | ||||||||||||
96,500 | Incitec Pivot Ltd. | 206,280 | 0 .3 | ||||||||||||
70,381 | Insurance Australia Group Ltd. | 293,667 | 0 .5 | ||||||||||||
141,820 | @ | Metcash Ltd. | 232,944 | 0 .4 | |||||||||||
211,582 | Nine Entertainment Co. Holdings Ltd. | 158,761 | 0 .3 | ||||||||||||
14,234 | Rio Tinto Ltd. | 509,209 | 0 .9 | ||||||||||||
47,892 | Santos Ltd. | 158,594 | 0 .3 | ||||||||||||
164,491 | Sigma Pharmaceuticals Ltd. | 150,615 | 0 .3 | ||||||||||||
145,606 | Spark Infrastructure Group | 277,664 | 0 .5 | ||||||||||||
81,462 | Stockland | 296,565 | 0 .5 | ||||||||||||
27,673 | Suncorp Group Ltd. | 264,031 | 0 .5 | ||||||||||||
116,603 | Vicinity Centres | 289,752 | 0 .5 | ||||||||||||
31,187 | Westpac Banking Corp. | 689,347 | 1 .2 | ||||||||||||
4,483,699 | 7 .8 | ||||||||||||||
Austria: 0.4% | |||||||||||||||
7,732 | Erste Bank der Oesterreichischen Sparkassen AG | 217,184 | 0 .4 | ||||||||||||
Belgium: 0.2% | |||||||||||||||
3,623 | Ageas | 125,631 | 0 .2 | ||||||||||||
China: 12.4% | |||||||||||||||
7,095 | @ | Alibaba Group Holding Ltd. ADR | 689,563 | 1 .2 | |||||||||||
45,500 | Beijing Enterprises Holdings Ltd. | 260,500 | 0 .4 | ||||||||||||
838,000 | China BlueChemical Ltd. | 159,572 | 0 .3 | ||||||||||||
891,380 | China Construction Bank | 666,566 | 1 .2 | ||||||||||||
57,500 | China Mobile Ltd. | 708,344 | 1 .2 | ||||||||||||
108,000 | China Overseas Land & Investment Ltd. | 355,707 | 0 .6 | ||||||||||||
1 | China Overseas Property Holdings Ltd. | – | – | ||||||||||||
397,400 | China Petroleum & Chemical Corp. | 284,041 | 0 .5 | ||||||||||||
202,000 | China Resources Power Holdings Co. | 347,931 | 0 .6 | ||||||||||||
221,366 | China State Construction International Holdings Ltd. | 263,741 | 0 .5 | ||||||||||||
280,000 | China Unicom Hong Kong Ltd. | 316,590 | 0 .5 | ||||||||||||
258,000 | COSCO Pacific Ltd. | 279,060 | 0 .5 | ||||||||||||
670,000 | Datang International Power Generation Co., Ltd. | 175,024 | 0 .3 | ||||||||||||
30,000 | Hengan International Group Co., Ltd. | 253,413 | 0 .4 | ||||||||||||
884,383 | Industrial & Commercial Bank of China | 562,539 | 1 .0 | ||||||||||||
418,000 | Lenovo Group Ltd. | 281,338 | 0 .5 | ||||||||||||
604,500 | Parkson Retail Group Ltd. | 50,535 | 0 .1 | ||||||||||||
366,000 | PetroChina Co., Ltd. | 242,688 | 0 .4 | ||||||||||||
123,000 | Shanghai Industrial Holdings Ltd. | 319,645 | 0 .6 | ||||||||||||
115,000 | Shanghai Pharmaceuticals Holding Co. Ltd. | 315,171 | 0 .5 | ||||||||||||
206,500 | Shimao Property Holdings Ltd. | 286,598 | 0 .5 | ||||||||||||
298,000 | Zhejiang Expressway Co., Ltd. | 331,906 | 0 .6 | ||||||||||||
7,150,472 | 12 .4 | ||||||||||||||
Denmark: 0.5% | |||||||||||||||
201 | AP Moller - Maersk A/S - Class B | 300,688 | 0 .5 | ||||||||||||
Finland: 0.3% | |||||||||||||||
31,188 | Nokia OYJ - Finland | 175,913 | 0 .3 | ||||||||||||
France: 8.2%a | |||||||||||||||
26,686 | AXA S.A. | 561,667 | 1 .0 | ||||||||||||
10,397 | BNP Paribas | 530,979 | 0 .9 | ||||||||||||
15,931 | Carrefour S.A. | 401,997 | 0 .7 | ||||||||||||
4,616 | Casino Guichard Perrachon S.A. | 228,796 | 0 .4 | ||||||||||||
8,072 | Cie de Saint-Gobain | 354,331 | 0 .6 | ||||||||||||
5,773 | Eutelsat Communications | 112,465 | 0 .2 | ||||||||||||
29,082 | Orange SA | 443,323 | 0 .8 | ||||||||||||
44,104 | Engie SA | 704,850 | 1 .2 | ||||||||||||
2,572 | Danone | 195,800 | 0 .3 | ||||||||||||
8,595 | Metropole Television SA | 152,653 | 0 .2 | ||||||||||||
6,716 | Sanofi | 518,249 | 0 .9 | ||||||||||||
6,901 | Total S.A. | 329,704 | 0 .6 | ||||||||||||
2,790 | Vinci S.A. | 211,976 | 0 .4 | ||||||||||||
4,746,790 | 8 .2 | ||||||||||||||
Germany: 5.0% | |||||||||||||||
2,483 | Bayer AG | 265,063 | 0 .5 | ||||||||||||
6,523 | Daimler AG | 451,528 | 0 .8 | ||||||||||||
21,311 | Deutsche Post AG | 673,283 | 1 .2 | ||||||||||||
24,557 | Deutsche Telekom AG | 409,643 | 0 .7 | ||||||||||||
1,865 | Linde AG | 318,454 | 0 .5 | ||||||||||||
2,807 | Muenchener Rueckversicherungs-Gesellschaft AG | 506,890 | 0 .9 | ||||||||||||
2,976 | SAP SE | 261,352 | 0 .4 | ||||||||||||
2,886,213 | 5 .0 | ||||||||||||||
Hong Kong: 3.3% | |||||||||||||||
118,040 | AIA Group Ltd. | 743,436 | 1 .3 | ||||||||||||
26,493 | CLP Holdings Ltd. | 271,546 | 0 .5 | ||||||||||||
2,470,000 | @ | Emperor Watch & Jewellery Ltd. | 82,623 | 0 .1 | |||||||||||
840,000 | Hutchison Telecommunications Hong Kong Holdings Ltd. | 289,891 | 0 .5 | ||||||||||||
433 | Link REIT | 3,145 | 0 .0 | ||||||||||||
53,000 | MTR Corp. | 289,403 | 0 .5 | ||||||||||||
57,400 | Television Broadcasts Ltd. | 204,695 | 0 .4 | ||||||||||||
1,884,739 | 3 .3 | ||||||||||||||
India: 5.4% | |||||||||||||||
55,564 | Coal India Ltd. | 276,644 | 0 .5 | ||||||||||||
49,457 | GAIL India Ltd. | 283,258 | 0 .5 | ||||||||||||
26,582 | HCL Technologies Ltd. | 308,833 | 0 .5 | ||||||||||||
5,608 | Hero Motocorp Ltd. | 296,345 | 0 .5 | ||||||||||||
76,866 | ICICI Bank Ltd. | 295,648 | 0 .5 | ||||||||||||
23,340 | Indiabulls Housing Finance Ltd. | 285,246 | 0 .5 | ||||||||||||
72,717 | ITC Ltd. | 282,281 | 0 .5 | ||||||||||||
114,246 | NTPC Ltd. | 271,508 | 0 .5 | ||||||||||||
113,600 | @ | Punjab National Bank | 216,029 | 0 .4 | |||||||||||
17,727 | Reliance Industries Ltd. | 280,263 | 0 .5 | ||||||||||||
56,610 | Tata Steel Ltd. | 312,560 | 0 .5 | ||||||||||||
3,108,615 | 5 .4 |
1 |
Voya International High Dividend Equity Income Fund |
PORTFOLIO OF INVESTMENTS as of August 31, 2016 (Unaudited) (continued) |
Shares | Value | Percentage of Net Assets | ||||||||||||
COMMON STOCK: (continued) | ||||||||||||||
Indonesia: 0.3% | ||||||||||||||
36,333 | @ | Bank CIMB Niaga Tbk PT | 2,287 | 0 .0 | ||||||||||
182,700 | Indo Tambangraya Megah PT | 156,433 | 0 .3 | |||||||||||
158,720 | 0 .3 | |||||||||||||
Ireland: 0.2% | ||||||||||||||
3,930 | CRH PLC - Dublin | 132,084 | 0 .2 | |||||||||||
Italy: 1.6% | ||||||||||||||
128,914 | Enel S.p.A. | 569,662 | 1 .0 | |||||||||||
9,922 | ENI S.p.A. | 149,783 | 0 .3 | |||||||||||
7,911 | Prysmian S.p.A. | 195,440 | 0 .3 | |||||||||||
914,885 | 1 .6 | |||||||||||||
Macau: 0.5% | ||||||||||||||
80,635 | Sands China Ltd. | 316,122 | 0 .5 | |||||||||||
Malaysia: 1.5% | ||||||||||||||
358,828 | Berjaya Sports Toto BHD | 296,406 | 0 .5 | |||||||||||
232,000 | CIMB Group Holdings BHD | 274,373 | 0 .5 | |||||||||||
351,800 | IJM Corp. BHD | 297,540 | 0 .5 | |||||||||||
868,319 | 1 .5 | |||||||||||||
Netherlands: 2.7% | ||||||||||||||
13,934 | # | ABN AMRO Group NV | 286,593 | 0 .5 | ||||||||||
5,713 | Koninklijke DSM NV | 398,775 | 0 .7 | |||||||||||
33,232 | Royal Dutch Shell PLC - Class B | 845,983 | 1 .5 | |||||||||||
1,531,351 | 2 .7 | |||||||||||||
Singapore: 0.5% | ||||||||||||||
234,700 | First Resources Ltd. | 309,859 | 0 .5 | |||||||||||
South Korea: 4.9% | ||||||||||||||
33,332 | DGB Financial Group, Inc. | 272,801 | 0 .5 | |||||||||||
14,253 | Hite Jinro Co. Ltd. | 279,726 | 0 .5 | |||||||||||
10,399 | Hyundai Marine & Fire Insurance Co., Ltd. | 314,872 | 0 .5 | |||||||||||
11,039 | KT Corp. | 312,085 | 0 .5 | |||||||||||
9,005 | LG Display Co., Ltd. | 241,545 | 0 .4 | |||||||||||
1,589 | POSCO | 327,097 | 0 .6 | |||||||||||
552 | Samsung Electronics Co., Ltd. | 800,659 | 1 .4 | |||||||||||
8,322 | Shinhan Financial Group Co., Ltd. | 304,161 | 0 .5 | |||||||||||
2,852,946 | 4 .9 | |||||||||||||
Spain: 3.4% | ||||||||||||||
25,379 | Abertis Infraestructuras S.A. | 393,170 | 0 .7 | |||||||||||
55,089 | Banco Santander SA | 247,100 | 0 .4 | |||||||||||
40,887 | Banco Bilbao Vizcaya Argentaria S.A. | 254,105 | 0 .5 | |||||||||||
9,956 | Ebro Foods SA | 222,873 | 0 .4 | |||||||||||
13,695 | @ | Indra Sistemas S.A. | 177,231 | 0 .3 | ||||||||||
19,675 | Prosegur Cia de Seguridad SA | 131,970 | 0 .2 | |||||||||||
53,125 | @ | Telefonica S.A. | 536,021 | 0 .9 | ||||||||||
1,962,470 | 3 .4 | |||||||||||||
Sweden: 2.6% | ||||||||||||||
13,062 | Telefonaktiebolaget LM Ericsson | 93,031 | 0 .2 | |||||||||||
6,653 | Svenska Cellulosa AB SCA | 204,484 | 0 .3 | |||||||||||
34,293 | Svenska Handelsbanken AB | 441,955 | 0 .8 | |||||||||||
58,809 | Telia Co. AB | 265,386 | 0 .4 | |||||||||||
47,858 | Volvo AB - B Shares | 513,742 | 0 .9 | |||||||||||
1,518,598 | 2 .6 | |||||||||||||
Switzerland: 7.0% | ||||||||||||||
5,483 | Cie Financiere Richemont SA | 316,044 | 0 .5 | |||||||||||
8,760 | Credit Suisse Group AG | 114,213 | 0 .2 | |||||||||||
9,829 | LafargeHolcim Ltd. | 521,851 | 0 .9 | |||||||||||
4,801 | Nestle S.A. | 382,605 | 0 .7 | |||||||||||
9,351 | Novartis AG | 736,513 | 1 .3 | |||||||||||
2,955 | Roche Holding AG | 721,316 | 1 .3 | |||||||||||
158 | SGS S.A. | 347,521 | 0 .6 | |||||||||||
28,198 | UBS Group AG | 408,637 | 0 .7 | |||||||||||
1,820 | Zurich Insurance Group AG | 466,045 | 0 .8 | |||||||||||
4,014,745 | 7 .0 | |||||||||||||
Taiwan: 3.6% | ||||||||||||||
25,000 | Catcher Technology Co., Ltd. | 179,326 | 0 .3 | |||||||||||
241,000 | Cathay Financial Holding Co., Ltd. | 303,987 | 0 .5 | |||||||||||
556,280 | CTBC Financial Holding Co. Ltd. | 321,166 | 0 .6 | |||||||||||
27,612 | MediaTek, Inc. | 216,706 | 0 .4 | |||||||||||
107,000 | Quanta Computer, Inc. | 197,464 | 0 .3 | |||||||||||
120,363 | Taiwan Semiconductor Manufacturing Co., Ltd. | 668,422 | 1 .2 | |||||||||||
94,000 | TPK Holding Co. Ltd. | 172,865 | 0 .3 | |||||||||||
2,059,936 | 3 .6 | |||||||||||||
Thailand: 0.3% | ||||||||||||||
14,900 | PTT PCL-Foreign | 149,727 | 0 .3 | |||||||||||
United Kingdom: 12.7% | ||||||||||||||
2,628 | AstraZeneca PLC | 169,639 | 0 .3 | |||||||||||
59,342 | Aviva PLC | 334,897 | 0 .6 | |||||||||||
128,389 | Barclays PLC | 290,168 | 0 .5 | |||||||||||
50,238 | BP PLC | 282,416 | 0 .5 | |||||||||||
8,905 | Diageo PLC | 246,801 | 0 .4 | |||||||||||
6,663 | easyJet PLC | 96,713 | 0 .2 | |||||||||||
39,003 | GlaxoSmithKline PLC | 839,547 | 1 .5 | |||||||||||
36,115 | HSBC Holdings PLC (GBP) | 268,511 | 0 .5 | |||||||||||
42,800 | HSBC Holdings PLC (HKD) | 317,516 | 0 .6 | |||||||||||
131,035 | J Sainsbury PLC | 413,511 | 0 .7 | |||||||||||
97,541 | Kingfisher PLC | 475,712 | 0 .8 | |||||||||||
15,177 | Land Securities Group PLC | 218,028 | 0 .4 | |||||||||||
257,455 | Lloyds Banking Group Plc | 200,662 | 0 .3 | |||||||||||
63,141 | Marks & Spencer Group PLC | 285,604 | 0 .5 | |||||||||||
76,353 | Mitie Group PLC | 270,983 | 0 .5 | |||||||||||
13,095 | Rio Tinto PLC | 394,194 | 0 .7 | |||||||||||
13,237 | Rolls-Royce Holdings PLC | 133,836 | 0 .2 | |||||||||||
12,105 | SSE PLC | 239,306 | 0 .4 | |||||||||||
11,055 | Smiths Group PLC | 194,723 | 0 .3 | |||||||||||
12,035 | Tate & Lyle PLC | 115,978 | 0 .2 | |||||||||||
21,839 | UBM PLC | 197,282 | 0 .3 | |||||||||||
5,368 | Unilever PLC | 249,188 | 0 .4 | |||||||||||
206,515 | Vodafone Group PLC | 623,189 | 1 .1 | |||||||||||
2,332 | Whitbread PLC | 127,758 | 0 .2 | |||||||||||
15,615 | WPP PLC | 360,518 | 0 .6 | |||||||||||
7,346,680 | 12 .7 |
See Accompanying Notes to Financial Statements
2 |
Voya International High Dividend Equity Income Fund |
PORTFOLIO OF INVESTMENTS as of August 31, 2016 (Unaudited) (continued) |
Shares | Value | Percentage of Net Assets | ||||||||||||
COMMON STOCK: (continued) | ||||||||||||||
United States: 11.9% | ||||||||||||||
15,774 | AT&T, Inc. | 644,841 | 1 .1 | |||||||||||
28,497 | Cisco Systems, Inc. | 895,946 | 1 .6 | |||||||||||
13,879 | Coach, Inc. | 529,900 | 0 .9 | |||||||||||
15,257 | Coca-Cola Co. | 662,611 | 1 .1 | |||||||||||
5,306 | Cummins, Inc. | 666,487 | 1 .2 | |||||||||||
11,556 | Dow Chemical Co. | 619,864 | 1 .1 | |||||||||||
8,027 | Gilead Sciences, Inc. | 629,156 | 1 .1 | |||||||||||
6,496 | Occidental Petroleum Corp. | 499,218 | 0 .9 | |||||||||||
2,523 | Simon Property Group, Inc. | 543,631 | 0 .9 | |||||||||||
7,502 | Valero Energy Corp. | 415,236 | 0 .7 | |||||||||||
14,383 | Wells Fargo & Co. | 730,656 | 1 .3 | |||||||||||
6,837,546 | 11 .9 | |||||||||||||
Total Common Stock | ||||||||||||||
(Cost $62,437,407) | 56,053,932 | 97 .2 | ||||||||||||
PREFERRED STOCK: 1.1% | ||||||||||||||
South Korea: 1.1% | ||||||||||||||
856 | Hyundai Motor Co. | 73,541 | 0 .1 | |||||||||||
2,271 | Hyundai Motor Co.- Series 2 | 204,643 | 0 .4 | |||||||||||
317 | Samsung Electronics Co., Ltd. - Pref | 375,952 | 0 .6 | |||||||||||
Total Preferred Stock | ||||||||||||||
(Cost $469,879) | 654,136 | 1 .1 | ||||||||||||
Total Investments in Securities (Cost $62,907,286) | $ | 56,708,068 | 98 .3 | |||||||||||
Assets in Excess of Other Liabilities | 975,226 | 1 .7 | ||||||||||||
Net Assets | $ | 57,683,294 | 100 .0 |
# | Securities with purchases pursuant to Rule 144A or section 4(a)(2), under the Securities Act of 1933 and may not be resold subject to that rule except to qualified institutional buyers. | |
@ | Non-income producing security. | |
ADR | American Depositary Receipt |
Cost for federal income tax purposes is $62,916,811. | ||||
Net unrealized depreciation consists of: |
Gross Unrealized Appreciation | $ | 3,470,285 | ||
Gross Unrealized Depreciation | (9,679,028 | ) | ||
Net Unrealized Depreciation | $ | (6,208,743 | ) |
See Accompanying Notes to Financial Statements
3 |
Item 7. Disclosure of Proxy Voting Policies and Procedures for Closed-End Management Investment Companies.
Not applicable.
Item 8. Portfolio Managers of Closed-End Management Investment Companies.
Not applicable.
Item 9. Purchases of Equity Securities by Closed-End Management Investment Company and Affiliated Purchasers.
Not applicable.
Item 10. Submission of Matters to a Vote of Security Holders.
Not applicable.
Item 11. Controls and Procedures.
(a) | Based on our evaluation conducted within 90 days of the filing date, hereof, the design and operation of the registrant’s disclosure controls and procedures are effective to ensure that material information relating to the registrant is made known to the certifying officers by others within the appropriate entities, particularly during the period in which Forms N-CSR are being prepared, and the registrant’s disclosure controls and procedures allow timely preparation and review of the information for the registrant’s Form N-CSR and the officer certifications of such Form N-CSR. |
(b) | There were no significant changes in the registrant’s internal controls that occurred during the second fiscal quarter of the period covered by this report that has materially affected, or is reasonably likely to materially affect, the registrant’s internal control over financial reporting. |
Item 12. Exhibits.
(a)(1) | The Code of Ethics is not required for the semi-annual filing. |
(a)(2) | A separate certification for each principal executive officer and principal financial officer of the registrant is required by Rule 30a-2 under the Act (17 CFR 270.30a-2) is attached hereto as EX-99.CERT. |
(a)(3) | Not required for semi-annual filing. |
(b) | The officer certifications required by Section 906 of the Sarbanes-Oxley Act of 2002 are attached hereto as EX-99.906CERT. |
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
(Registrant): Voya International High Dividend Equity Income Fund
By | /s/ Shaun P. Mathews | |
Shaun P. Mathews | ||
President and Chief Executive Officer |
Date: November 4, 2016
Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, this report has been signed below by the following persons on behalf of the registrant and in the capacities and on the dates indicated.
By | /s/ Shaun P. Mathews | |
Shaun P. Mathews | ||
President and Chief Executive Officer |
Date: November 4, 2016
By | /s/ Todd Modic | |
Todd Modic | ||
Senior Vice President and Chief Financial Officer |
Date: November 4, 2016