- 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.
For further details see:
Equity CEFs: Will IAE Be The Next Voya Fund To Liquidate?