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IAE - Equity CEFs: Will IAE Be The Next Voya Fund To Liquidate?
Voya Asia Pacific High Dividend Equity Income Fund ING Asia Pacific High Dividend Equity Income Fund of Beneficial Interest
Voya is going through a purge of its option-income CEFs. Already this year, Voya has announced the liquidation of two of its funds, IID and IRR.
Why are they doing this? I'm guessing because the economies of scale don't work as well when the funds get down to around $100 million in assets.
That and perhaps Voya just wants to focus on traditional mutual funds. Historically, the Voya CEFs have not had a good track record and have generally lost NAV over the years.
So will Voya continue their purge of CEFs? Maybe, and if so, I believe IAE might be next.