UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM N-Q
QUARTERLY SCHEDULE OF PORTFOLIO HOLDINGS
OF REGISTERED
MANAGEMENT INVESTMENT COMPANY
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 Rd., Suite 100, Scottsdale, AZ 85258
(Address of principal executive offices) (Zip code)
Huey P. Falgout, Jr., 7337 East Doubletree Ranch Road, Suite 100, Scottsdale, AZ 85258
(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: May 31, 2017
Item 1. Schedule of Investments
The schedules of investments as of the close of the reporting period are set forth below for:
Voya International High Dividend Equity Income Fund
The schedules are not audited.
| Voya International High Dividend Equity Income Fund | PORTFOLIO OF INVESTMENTS as of May 31, 2017 (Unaudited) |
| Shares | Value | Percentage of Net Assets |
||||||||||
| COMMON STOCK: 96.4% | ||||||||||||
| Australia: 7.8% | ||||||||||||
| 31,909 | Australia & New Zealand Banking Group Ltd. | $ | 663,166 | 1.1 | ||||||||
| 72,350 | Charter Hall Group | 305,347 | 0.5 | |||||||||
| 38,078 | Coca-Cola Amatil Ltd. | 264,271 | 0.4 | |||||||||
| 64,892 | Insurance Australia Group Ltd. | 306,770 | 0.5 | |||||||||
| 141,820 | @ | Metcash Ltd. | 216,084 | 0.4 | ||||||||
| 245,211 | Nine Entertainment Co. Holdings Ltd. | 236,746 | 0.4 | |||||||||
| 23,573 | QBE Insurance Group Ltd. | 226,226 | 0.4 | |||||||||
| 10,923 | Rio Tinto Ltd. | 508,568 | 0.9 | |||||||||
| 82,187 | @ | Santos Ltd. | 205,840 | 0.3 | ||||||||
| 92,320 | Scentre Group | 291,723 | 0.5 | |||||||||
| 229,789 | Sigma Healthcare Ltd. | 139,042 | 0.2 | |||||||||
| 162,708 | Spark Infrastructure Group | 326,206 | 0.6 | |||||||||
| 28,628 | Suncorp Group Ltd. | 294,538 | 0.5 | |||||||||
| 29,181 | Westpac Banking Corp. | 661,159 | 1.1 | |||||||||
| 4,645,686 | 7.8 | |||||||||||
| Austria: 0.5% | ||||||||||||
| 7,732 | @ | Erste Group Bank AG | 280,816 | 0.5 | ||||||||
| Belgium: 0.5% | ||||||||||||
| 3,623 | Ageas | 146,356 | 0.2 | |||||||||
| 4,417 | Ontex Group NV | 159,539 | 0.3 | |||||||||
| 305,895 | 0.5 | |||||||||||
| China: 13.3% | ||||||||||||
| 5,979 | @ | Alibaba Group Holding Ltd. ADR | 732,188 | 1.3 | ||||||||
| 59,000 | Beijing Enterprises Holdings Ltd. | 279,546 | 0.5 | |||||||||
| 678,000 | China BlueChemical Ltd. | 171,910 | 0.3 | |||||||||
| 930,380 | China Construction Bank | 767,963 | 1.3 | |||||||||
| 68,500 | China Mobile Ltd. | 759,179 | 1.3 | |||||||||
| 104,000 | China Overseas Land & Investment Ltd. | 312,129 | 0.5 | |||||||||
| 1 | China Overseas Property Holdings Ltd. | – | – | |||||||||
| 545,400 | China Petroleum & Chemical Corp. | 446,768 | 0.7 | |||||||||
| 136,000 | China Resources Land Ltd. | 399,296 | 0.7 | |||||||||
| 160,000 | China Resources Power Holdings Co. | 329,858 | 0.5 | |||||||||
| 175,030 | China State Construction International Holdings Ltd. | 303,515 | 0.5 | |||||||||
| 220,000 | @ | China Unicom Hong Kong Ltd. | 315,897 | 0.5 | ||||||||
| 286,000 | COSCO Pacific Ltd. | 333,882 | 0.6 | |||||||||
| 39,000 | Hengan International Group Co., Ltd. | 273,467 | 0.5 | |||||||||
| 811,123 | Industrial & Commercial Bank of China | 541,583 | 0.9 | |||||||||
| 418,000 | Lenovo Group Ltd. | 273,311 | 0.5 | |||||||||
| 604,500 | Parkson Retail Group Ltd. | 88,360 | 0.1 | |||||||||
| 416,000 | PetroChina Co., Ltd. | 276,637 | 0.5 | |||||||||
| Shares | Value | Percentage of Net Assets | ||||||||||
| COMMON STOCK: (continued) | ||||||||||||
| China: (continued) | ||||||||||||
| 102,000 | Shanghai Industrial Holdings Ltd. | $ | 318,458 | 0.5 | ||||||||
| 115,000 | Shanghai Pharmaceuticals Holding Co. Ltd. | 332,507 | 0.6 | |||||||||
| 186,000 | Shimao Property Holdings Ltd. | 317,103 | 0.5 | |||||||||
| 264,000 | Zhejiang Expressway Co., Ltd. | 309,443 | 0.5 | |||||||||
| 7,883,000 | 13.3 | |||||||||||
| Denmark: 0.4% | ||||||||||||
| 5,649 | Novo Nordisk A/S | 239,825 | 0.4 | |||||||||
| Finland: 0.3% | ||||||||||||
| 31,188 | Nokia OYJ - Finland | 197,454 | 0.3 | |||||||||
| France: 8.5% | ||||||||||||
| 26,686 | AXA S.A. | 712,578 | 1.2 | |||||||||
| 7,186 | BNP Paribas | 507,337 | 0.9 | |||||||||
| 1,516 | Cap Gemini SA | 156,976 | 0.3 | |||||||||
| 15,931 | Carrefour S.A. | 416,071 | 0.7 | |||||||||
| 5,939 | Cie de Saint-Gobain | 331,951 | 0.6 | |||||||||
| 5,773 | @ | Eutelsat Communications | 148,603 | 0.2 | ||||||||
| 29,082 | Orange SA | 510,980 | 0.9 | |||||||||
| 44,104 | Engie SA | 674,050 | 1.1 | |||||||||
| 2,572 | Danone | 191,176 | 0.3 | |||||||||
| 2,769 | Sanofi | 274,281 | 0.5 | |||||||||
| 11,602 | Total S.A. | 612,914 | 1.0 | |||||||||
| 5,622 | Vinci S.A. | 491,740 | 0.8 | |||||||||
| 5,028,657 | 8.5 | |||||||||||
| Germany: 5.7% | ||||||||||||
| 2,483 | Bayer AG | 329,925 | 0.6 | |||||||||
| 4,678 | Daimler AG | 340,181 | 0.6 | |||||||||
| 4,621 | Deutsche Boerse AG | 480,938 | 0.8 | |||||||||
| 11,238 | Deutsche Post AG | 410,935 | 0.7 | |||||||||
| 24,557 | Deutsche Telekom AG | 489,591 | 0.8 | |||||||||
| 5,922 | Evonik Industries AG | 204,246 | 0.3 | |||||||||
| 2,377 | LEG Immobilien AG | 224,350 | 0.4 | |||||||||
| 583 | Linde AG | 111,557 | 0.2 | |||||||||
| 3,159 | Muenchener Rueckversicherungs-Gesellschaft AG | 623,782 | 1.0 | |||||||||
| 4,574 | ProSiebenSat.1 Media SE | 194,362 | 0.3 | |||||||||
| 3,409,867 | 5.7 | |||||||||||
| Hong Kong: 2.7% | ||||||||||||
| 97,040 | AIA Group Ltd. | 686,612 | 1.2 | |||||||||
| 28,993 | CLP Holdings Ltd. | 317,044 | 0.5 | |||||||||
| 1,770,000 | @ | Emperor Watch & Jewellery Ltd. | 77,144 | 0.1 | ||||||||
| 1,050,000 | Hutchison Telecommunications Hong Kong Holdings Ltd. | 319,175 | 0.5 | |||||||||
| 433 | Link REIT | 3,415 | 0.0 | |||||||||
| 60,000 | Television Broadcasts Ltd. | 225,985 | 0.4 | |||||||||
| 1,629,375 | 2.7 | |||||||||||
| Voya International High Dividend Equity Income Fund | PORTFOLIO OF INVESTMENTS as of May 31, 2017 (Unaudited) (Continued) |
| Shares | Value | Percentage of Net Assets | ||||||||||
| COMMON STOCK: (continued) | ||||||||||||
| India: 2.9% | ||||||||||||
| 69,289 | Coal India Ltd. | $ | 281,980 | 0.5 | ||||||||
| 47,109 | GAIL India Ltd. | 302,316 | 0.5 | |||||||||
| 65,462 | ICICI Bank Ltd. | 332,032 | 0.6 | |||||||||
| 120,114 | NTPC Ltd. | 298,278 | 0.5 | |||||||||
| 83,896 | @ | Punjab National Bank | 195,793 | 0.3 | ||||||||
| 42,425 | Tata Steel Ltd. | 331,915 | 0.5 | |||||||||
| 1,742,314 | 2.9 | |||||||||||
| Indonesia: 1.2% | ||||||||||||
| 606,700 | Bank Negara Indonesia Persero Tbk PT | 298,054 | 0.5 | |||||||||
| 151,100 | Indo Tambangraya Megah PT | 172,275 | 0.3 | |||||||||
| 355,100 | Semen Indonesia Persero Tbk PT | 251,594 | 0.4 | |||||||||
| 721,923 | 1.2 | |||||||||||
| Italy: 2.2% | ||||||||||||
| 128,914 | Enel S.p.A. | 690,131 | 1.1 | |||||||||
| 9,922 | ENI S.p.A. | 157,711 | 0.3 | |||||||||
| 77,410 | Intesa Sanpaolo SpA - ISP | 221,993 | 0.4 | |||||||||
| 7,911 | Prysmian S.p.A. | 220,279 | 0.4 | |||||||||
| 1,290,114 | 2.2 | |||||||||||
| Malaysia: 1.5% | ||||||||||||
| 439,128 | Berjaya Sports Toto BHD | 256,500 | 0.4 | |||||||||
| 227,700 | CIMB Group Holdings Bhd | 340,516 | 0.6 | |||||||||
| 399,100 | IJM Corp. Bhd | 324,490 | 0.5 | |||||||||
| 921,506 | 1.5 | |||||||||||
| Netherlands: 2.8% | ||||||||||||
| 13,934 | # | ABN AMRO Group NV | 359,831 | 0.6 | ||||||||
| 1,900 | Koninklijke DSM NV | 141,580 | 0.2 | |||||||||
| 18,127 | Koninklijke Ahold Delhaize NV | 400,088 | 0.7 | |||||||||
| 27,257 | Royal Dutch Shell PLC - Class B | 754,536 | 1.3 | |||||||||
| 1,656,035 | 2.8 | |||||||||||
| Norway: 0.4% | ||||||||||||
| 15,385 | Statoil ASA | 268,283 | 0.4 | |||||||||
| Singapore: 0.5% | ||||||||||||
| 210,000 | First Resources Ltd. | 298,219 | 0.5 | |||||||||
| South Korea: 5.8% | ||||||||||||
| 28,507 | DGB Financial Group, Inc. | 292,599 | 0.5 | |||||||||
| 17,333 | Hite Jinro Co. Ltd. | 374,546 | 0.6 | |||||||||
| 7,211 | Kangwon Land, Inc. | 233,373 | 0.4 | |||||||||
| 7,795 | Korea Electric Power Corp. | 298,189 | 0.5 | |||||||||
| 11,039 | KT Corp. | 320,873 | 0.6 | |||||||||
| 9,005 | LG Display Co., Ltd. | 261,771 | 0.5 | |||||||||
| 1,227 | POSCO | 309,553 | 0.5 | |||||||||
| 337 | Samsung Electronics Co., Ltd. | 671,204 | 1.1 | |||||||||
| 1,349 | Samsung Fire & Marine Insurance Co. Ltd. | 352,143 | 0.6 | |||||||||
| Shares | Value | Percentage of Net Assets | ||||||||||
| COMMON STOCK: (continued) | ||||||||||||
| South Korea: (continued) | ||||||||||||
| 7,186 | Shinhan Financial Group Co., Ltd. | $ | 316,900 | 0.5 | ||||||||
| 3,431,151 | 5.8 | |||||||||||
| Spain: 3.1% | ||||||||||||
| 15,314 | Abertis Infraestructuras S.A. | 280,500 | 0.5 | |||||||||
| 12,536 | ACS Actividades de Construccion y Servicios S.A. | 501,667 | 0.8 | |||||||||
| 27,078 | Banco Santander SA | 176,307 | 0.3 | |||||||||
| 20,838 | Banco Bilbao Vizcaya Argentaria S.A. | 170,549 | 0.3 | |||||||||
| 9,956 | Ebro Foods SA | 235,279 | 0.4 | |||||||||
| 19,675 | Prosegur Cia de Seguridad SA | 131,986 | 0.2 | |||||||||
| 33,178 | Telefonica S.A. | 369,932 | 0.6 | |||||||||
| 1,866,220 | 3.1 | |||||||||||
| Sweden: 2.2% | ||||||||||||
| 3,188 | Svenska Cellulosa AB SCA | 112,453 | 0.2 | |||||||||
| 44,016 | Svenska Handelsbanken AB | 619,065 | 1.0 | |||||||||
| 13,062 | Telefonaktiebolaget LM Ericsson | 95,209 | 0.2 | |||||||||
| 58,809 | Telia Co. AB | 268,927 | 0.5 | |||||||||
| 11,775 | Volvo AB - B Shares | 192,327 | 0.3 | |||||||||
| 1,287,981 | 2.2 | |||||||||||
| Switzerland: 6.1% | ||||||||||||
| 8,760 | Credit Suisse Group AG | 119,630 | 0.2 | |||||||||
| 7,336 | LafargeHolcim Ltd.-CHF | 441,412 | 0.7 | |||||||||
| 6,114 | Julius Baer Group Ltd. | 317,028 | 0.5 | |||||||||
| 4,169 | Nestle S.A. | 355,956 | 0.6 | |||||||||
| 9,351 | Novartis AG | 765,241 | 1.3 | |||||||||
| 2,955 | Roche Holding AG | 811,292 | 1.4 | |||||||||
| 57 | SGS S.A. | 135,885 | 0.2 | |||||||||
| 28,198 | UBS Group AG | 449,434 | 0.8 | |||||||||
| 728 | Zurich Insurance Group AG | 214,210 | 0.4 | |||||||||
| 3,610,088 | 6.1 | |||||||||||
| Taiwan: 3.5% | ||||||||||||
| 22,000 | Catcher Technology Co., Ltd. | 232,537 | 0.4 | |||||||||
| 286,000 | Cathay Financial Holding Co., Ltd. | 447,912 | 0.8 | |||||||||
| 508,782 | CTBC Financial Holding Co. Ltd. | 323,710 | 0.5 | |||||||||
| 27,612 | MediaTek, Inc. | 211,020 | 0.4 | |||||||||
| 107,000 | Quanta Computer, Inc. | 244,701 | 0.4 | |||||||||
| 91,926 | Taiwan Semiconductor Manufacturing Co., Ltd. | 623,182 | 1.0 | |||||||||
| 2,083,062 | 3.5 | |||||||||||
| United Kingdom: 12.5% | ||||||||||||
| 2,628 | AstraZeneca PLC | 177,567 | 0.3 | |||||||||
| 59,342 | Aviva PLC | 402,612 | 0.7 | |||||||||
| 128,389 | Barclays PLC | 347,516 | 0.6 | |||||||||
| 22,852 | BP PLC | 138,061 | 0.2 | |||||||||
| 8,905 | Diageo PLC | 267,671 | 0.5 | |||||||||
| 6,663 | easyJet PLC | 121,434 | 0.2 | |||||||||
| Voya International High Dividend Equity Income Fund | PORTFOLIO OF INVESTMENTS as of May 31, 2017 (Unaudited) (Continued) |
| Shares | Value | Percentage of Net Assets | ||||||||||
| COMMON STOCK: (continued) | ||||||||||||
| United Kingdom: (continued) | ||||||||||||
| 39,003 | GlaxoSmithKline PLC | $ | 853,739 | 1.4 | ||||||||
| 30,006 | HSBC Holdings PLC (GBP) | 261,274 | 0.4 | |||||||||
| 37,200 | HSBC Holdings PLC (HKD) | 323,590 | 0.6 | |||||||||
| 131,035 | J Sainsbury PLC | 474,682 | 0.8 | |||||||||
| 97,541 | Kingfisher PLC | 407,982 | 0.7 | |||||||||
| 15,177 | Land Securities Group PLC | 209,448 | 0.4 | |||||||||
| 149,108 | Lloyds Banking Group Plc | 135,724 | 0.2 | |||||||||
| 33,231 | Marks & Spencer Group PLC | 164,069 | 0.3 | |||||||||
| 36,353 | @ | Mitie Group PLC | 113,444 | 0.2 | ||||||||
| 17,791 | Prudential PLC | 399,164 | 0.7 | |||||||||
| 6,560 | Rio Tinto PLC | 261,964 | 0.4 | |||||||||
| 13,237 | Rolls-Royce Holdings PLC | 148,144 | 0.3 | |||||||||
| 15,592 | Sage Group PLC | 144,872 | 0.2 | |||||||||
| 21,615 | SSE PLC | 419,824 | 0.7 | |||||||||
| 5,045 | Smiths Group PLC | 104,352 | 0.2 | |||||||||
| 12,035 | Tate & Lyle PLC | 114,395 | 0.2 | |||||||||
| 21,839 | UBM PLC | 203,477 | 0.3 | |||||||||
| 2,575 | Unilever PLC | 143,552 | 0.2 | |||||||||
| 206,515 | Vodafone Group PLC | 616,728 | 1.0 | |||||||||
| 2,332 | Whitbread PLC | 128,937 | 0.2 | |||||||||
| 15,615 | WPP PLC | 351,376 | 0.6 | |||||||||
| 7,435,598 | 12.5 | |||||||||||
| United States: 12.0% | ||||||||||||
| 21,284 | Cisco Systems, Inc. | 671,084 | 1.1 | |||||||||
| 16,659 | Coach, Inc. | 769,812 | 1.3 | |||||||||
| 15,257 | Coca-Cola Co. | 693,736 | 1.2 | |||||||||
| 3,408 | Cummins, Inc. | 537,442 | 0.9 | |||||||||
| 7,471 | Deere & Co. | 914,899 | 1.5 | |||||||||
| 11,556 | Dow Chemical Co. | 716,010 | 1.2 | |||||||||
| 11,726 | Hartford Financial Services Group, Inc. | 579,147 | 1.0 | |||||||||
| 23,408 | Pfizer, Inc. | 764,271 | 1.3 | |||||||||
| 13,998 | Plains GP Holdings L.P. | 373,327 | 0.6 | |||||||||
| 5,663 | Schlumberger Ltd. | 394,088 | 0.7 | |||||||||
| 14,392 | Wells Fargo & Co. | 736,007 | 1.2 | |||||||||
| 7,149,823 | 12.0 | |||||||||||
| Total Common Stock | ||||||||||||
| (Cost $58,121,682) | 57,382,892 | 96.4 | ||||||||||
| PREFERRED STOCK: 1.3% | ||||||||||||
| South Korea: 1.3% | ||||||||||||
| 1,839 | Hyundai Motor Co. | 174,263 | 0.3 | |||||||||
| 3,382 | Hyundai Motor Co.- Series 2 | 343,208 | 0.6 | |||||||||
| 164 | Samsung Electronics Co., Ltd. - Pref | 255,503 | 0.4 | |||||||||
| 772,974 | 1.3 | |||||||||||
| United Kingdom: 0.0% | ||||||||||||
| 939,827 | @ | Rolls-Royce Holdings PLC - C Shares | 1,211 | 0.0 | ||||||||
| Total Preferred Stock | ||||||||||||
| (Cost $531,311) | 774,185 | 1.3 | ||||||||||
| Shares | Value | Percentage of Net Assets | ||||||||||
| RIGHTS: 0.0% | ||||||||||||
| Switzerland: 0.0% | ||||||||||||
| 8,760 | @ | Credit Suisse Group AG | $ | 4,070 | 0.0 | |||||||
| Total Rights | ||||||||||||
| (Cost $–) | 4,070 | 0.0 | ||||||||||
| Total Long-Term Investments | ||||||||||||
| (Cost $58,652,993) | 58,161,147 | 97.7 | ||||||||||
| SHORT-TERM INVESTMENTS: 1.8% | ||||||||||||
| Mutual Funds: 1.8% | ||||||||||||
| 1,056,476 | BlackRock Liquidity Funds, FedFund, Institutional Class, 0.680%†† | |||||||||||
| (Cost $1,056,476) | 1,056,476 | 1.8 | ||||||||||
| Total Short-Term Investments | ||||||||||||
| (Cost $1,056,476) | 1,056,476 | 1.8 | ||||||||||
| Total Investments in Securities (Cost $59,709,469) | $ | 59,217,623 | 99.5 | |||||||||
| Assets in Excess of Other Liabilities | 270,222 | 0.5 | ||||||||||
| Net Assets | $ | 59,487,845 | 100.0 | |||||||||
| †† | Rate shown is the 7-day yield as of May 31, 2017. |
| # | 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 $59,757,880. | |
| Net unrealized depreciation consists of: |
| Gross Unrealized Appreciation | $ | 6,041,951 | ||
| Gross Unrealized Depreciation | (6,582,208 | ) | ||
| Net Unrealized Depreciation | $ | (540,257 | ) |
| Sector Diversification | Percentage of Net Assets | |||
| Financials | 26.4 | % | ||
| Industrials | 10.9 | |||
| Consumer Staples | 8.5 | |||
| Information Technology | 8.1 | |||
| Health Care | 8.0 | |||
| Consumer Discretionary | 7.2 | |||
| Energy | 6.8 | |||
| Telecommunication Services | 6.7 | |||
| Utilities | 6.0 | |||
| Materials | 5.6 | |||
| Real Estate | 3.5 | |||
| Short-Term Investments | 1.8 | |||
| Assets in Excess of Other Liabilities | 0.5 | |||
| Net Assets | 100.0 | % | ||
| Voya International High Dividend Equity Income Fund | PORTFOLIO OF INVESTMENTS as of May 31, 2017 (Unaudited) (Continued) |
Fair Value Measurements
The following is a summary of the fair valuations according to the inputs used as of May 31, 2017 in valuing the assets and liabilities:
| Quoted Prices in Active Markets for Identical Investments (Level 1) | Significant Other Observable Inputs# (Level 2) | Significant Unobservable Inputs (Level 3) | Fair Value at May 31, 2017 | |||||||||||||
| Asset Table | ||||||||||||||||
| Investments, at fair value | ||||||||||||||||
| Common Stock | ||||||||||||||||
| Australia | $ | – | $ | 4,645,686 | $ | – | $ | 4,645,686 | ||||||||
| Austria | – | 280,816 | – | 280,816 | ||||||||||||
| Belgium | – | 305,895 | – | 305,895 | ||||||||||||
| China | 732,188 | 7,150,812 | – | 7,883,000 | ||||||||||||
| Denmark | – | 239,825 | – | 239,825 | ||||||||||||
| Finland | – | 197,454 | – | 197,454 | ||||||||||||
| France | – | 5,028,657 | – | 5,028,657 | ||||||||||||
| Germany | – | 3,409,867 | – | 3,409,867 | ||||||||||||
| Hong Kong | 225,985 | 1,403,390 | – | 1,629,375 | ||||||||||||
| India | – | 1,742,314 | – | 1,742,314 | ||||||||||||
| Indonesia | – | 721,923 | – | 721,923 | ||||||||||||
| Italy | – | 1,290,114 | – | 1,290,114 | ||||||||||||
| Malaysia | 256,500 | 665,006 | – | 921,506 | ||||||||||||
| Netherlands | – | 1,656,035 | – | 1,656,035 | ||||||||||||
| Norway | – | 268,283 | – | 268,283 | ||||||||||||
| Singapore | – | 298,219 | – | 298,219 | ||||||||||||
| South Korea | – | 3,431,151 | – | 3,431,151 | ||||||||||||
| Spain | – | 1,866,220 | – | 1,866,220 | ||||||||||||
| Sweden | – | 1,287,981 | – | 1,287,981 | ||||||||||||
| Switzerland | – | 3,610,088 | – | 3,610,088 | ||||||||||||
| Taiwan | – | 2,083,062 | – | 2,083,062 | ||||||||||||
| United Kingdom | 113,444 | 7,322,154 | – | 7,435,598 | ||||||||||||
| United States | 7,149,823 | – | – | 7,149,823 | ||||||||||||
| Total Common Stock | 8,477,940 | 48,904,952 | – | 57,382,892 | ||||||||||||
| Preferred Stock | – | 774,185 | – | 774,185 | ||||||||||||
| Rights | 4,070 | – | – | 4,070 | ||||||||||||
| Short-Term Investments | 1,056,476 | – | – | 1,056,476 | ||||||||||||
| Total Investments, at fair value | $ | 9,538,486 | $ | 49,679,137 | $ | – | $ | 59,217,623 | ||||||||
| Liabilities Table | ||||||||||||||||
| Other Financial Instruments+ | ||||||||||||||||
| Written Options | $ | – | $ | (222,860 | ) | $ | – | $ | (222,860 | ) | ||||||
| Total Liabilities | $ | – | $ | (222,860 | ) | $ | – | $ | (222,860 | ) | ||||||
| + | Other Financial Instruments are derivatives not reflected in the Portfolio of Investments and may include open forward foreign currency contracts, futures, centrally cleared swaps, OTC swaps and written options. Forward foreign currency contracts, futures and centrally cleared swaps are valued at the unrealized gain (loss) on the instrument. OTC swaps and written options are valued at the fair value of the instrument. |
| # | The earlier close of the foreign markets gives rise to the possibility that significant events, including broad market moves, may have occurred in the interim and may materially affect the value of those securities. To account for this, the Fund may frequently value many of its foreign equity securities using fair value prices based on third party vendor modeling tools to the extent available. Accordingly, a portion of the Fund's investments are categorized as Level 2 investments. |
At May 31, 2017, the following over-the-counter written options were outstanding for Voya International High Dividend Equity Income Fund:
| Number of Contracts |
Counterparty | Description | Exercise Price |
Expiration Date |
Premiums Received |
Fair Value | ||||||||||||||||
| Options on Indices | ||||||||||||||||||||||
| 800 | Morgan Stanley & Co. International PLC | Call on S&P/ASX 200 Index | 5,834.200 | AUD | 06/01/17 | $ | 30,713 | $ | (59 | ) | ||||||||||||
| 1,420 | Morgan Stanley & Co. International PLC | Call on EURO STOXX 50® Index | 3,587.580 | EUR | 06/01/17 | 57,496 | (1,917 | ) | ||||||||||||||
| 590 | Societe Generale | Call on FTSE 100 Index | 7,359.850 | GBP | 06/01/17 | 45,853 | (122,608 | ) | ||||||||||||||
| Voya International High Dividend Equity Income Fund | PORTFOLIO OF INVESTMENTS as of May 31, 2017 (Unaudited) (Continued) |
| Number of Contracts |
Counterparty | Description | Exercise Price |
Expiration Date |
Premiums Received |
Fair Value | ||||||||||||||||
| 700 | Morgan Stanley & Co. International PLC | Call on Hang Seng Index | 25,024.000 | HKD | 06/01/17 | $ | 22,250 | $ | (56,550 | ) | ||||||||||||
| 7,400,000 | Societe Generale | Call on Korea Stock Exchange KOSPI 200 Index | 299.870 | KRW | 06/01/17 | 24,432 | (32,106 | ) | ||||||||||||||
| 5,000 | Societe Generale | Call on Taiwan Stock Exchange Weighted Index | 9,988.210 | TWD | 06/01/17 | 11,238 | (9,620 | ) | ||||||||||||||
| Total Written OTC Options | $ | 191,982 | $ | (222,860 | ) | |||||||||||||||||
| Currency Abbreviations | ||
| AUD | - | Australian Dollar |
| EUR | - | EU Euro |
| GBP | - | British Pound |
| HKD | - | Hong Kong Sar Dollar |
| KRW | - | South Korean Won |
| TWD | - | Taiwan New Dollar |
| Voya International High Dividend Equity Income Fund | PORTFOLIO OF INVESTMENTS as of May 31, 2017 (Unaudited) (Continued) |
A summary of derivative instruments by primary risk exposure is outlined in the following tables.
The fair value of derivative instruments as of May 31, 2017 was as follows:
| Fair Value | ||||||
| Derivatives not accounted for as hedging instruments | ||||||
| Liability Derivatives | Instrument Type | |||||
| Equity contracts | Written options | $ | 222,860 | |||
| Total Liability Derivatives | $ | 222,860 | ||||
The following is a summary by counterparty of the fair value of OTC derivative instruments subject to Master Netting Agreements and collateral pledged (received), if any, at May 31, 2017:
| Morgan Stanley & Co. International PLC | Societe Generale | Totals | ||||||||||
| Liabilities: | ||||||||||||
| Written options | $ | 58,526 | $ | 164,334 | $ | 222,860 | ||||||
| Total Liabilities | $ | 58,526 | $ | 164,334 | $ | 222,860 | ||||||
| Net OTC derivative instruments by counterparty, at fair value | $ | (58,526 | ) | $ | (164,334 | ) | (222,860 | ) | ||||
| Total collateral pledged by the Fund/(Received from counterparty) | $ | - | $ | 110,000 | $ | 110,000 | ||||||
| Net Exposure(1) | $ | (58,526 | ) | $ | (54,334 | ) | $ | (112,860 | ) | |||
(1) Positive net exposure represents amounts due from each respective counterparty. Negative exposure represents amounts due from the Fund.
Item 2. 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-Q 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-Q and the officer certifications of such Form N-Q. |
| (b) | There were no significant changes in the registrant’s internal controls over financial reporting that occurred during the registrant’s last 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 3. Exhibits.
A separate certification for each principal executive officer and principal financial officer of the registrant as required by Rule 30a-2 under the Act (17 CFR 270.30a-2) is attached hereto as EX-99.CERT.
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: | July 27, 2017 |
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: | July 27, 2017 |
| By | /s/ Todd Modic | |
| Todd Modic | ||
| Senior Vice President and Chief Financial Officer |
| Date: | July 27, 2017 |