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VOYA Prime Rate Trust

VOYA Prime Rate Trust

Sector: Unit Investment Trusts, Face-Amount Certificate Offices, and Closed-End Management Investment Offices Region: NY, United States


: | New York Stock Exchange: PPR


Overview

Invests at least 80% of net assets in U.S.-dollar-denominated, floating-rate, secured senior loans

Targets top-tier, non-investment grade senior loans seeking to achieve superior long term risk-adjusted returns with lower volatility

Uses leverage to enhance return potential

Investment Objective

This Closed-End Fund seeks a high a level of current income, consistent with preservation of capital

Executives

Dan Norman, Managing Director, Group Head, Managed Fund since 2000
Dan Norman is managing director and group head of the Voya Investment Management Senior Loan Group. He co-manages the group with Jeff Bakalar, and he is co-chairman of the group’s investment committee. Dan has over twenty-five years of investment experience. He began managing senior loan portfolios in 1995 when the firm’s predecessor acquired the management rights to what is now Voya Prime Rate Trust. Dan became the co-head of the firm’s senior loan business in January of 2000 and, with Jeff Bakalar, created and implemented the senior loan strategy in January of 2001. Dan is currently a member of the boards of directors of the Loan Syndications and Trading Association and the International Association of Credit Portfolio Managers. Dan has a wide variety of business and investment experience, having begun his career at Arthur Andersen & Co. in 1981. He joined the firm’s predecessor in 1992. Dan received his BA degree in 1980 from the University of Nebraska and completed the University of Nebraska MBA program in 1981.
Jeffrey Bakalar, Managing Director, Group Head, Managed Fund since 2000
Jeff Bakalar is managing director and group head of the Voya Investment Management Senior Loan Group. He co-manages the group with Dan Norman, and he is co-chairman of the group’s investment committee. Jeff has over twenty years of investment and banking experience. Jeff joined the firm’s predecessor in 1998 and became part of the investment team for what is now Voya Prime Rate Trust. He became the co-head of the firm’s senior loan business in January of 2000 and, with Dan Norman, created and implemented the Voya Senior Loan Strategy in January of 2001. Jeff began his career as an associate with Continental Bank in 1987, serving in various credit and corporate finance roles, including establishing and managing derivatives trading lines with international bank counterparties, and structuring and monitoring various classes of asset-backed transactions. In 1994, Jeff joined the Communications Division within The First National Bank of Chicago, ultimately serving as a senior underwriter responsible for structuring and managing leveraged transactions for issuers in the broadcasting and media sectors. Jeff received his BS degree in finance with honors from the University of Illinois Chicago in 1986, and his MBA in finance with highest distinction from DePaul University in 1992.

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