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: 811-22144

 

Voya Infrastructure, Industrials and Materials 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: November 30, 2015

 

  

Item 1. Schedule of Investments

 

The schedules of investments as of the close of the reporting period are set forth below for:

 

Voya Infrastructure, Industrials and Materials Fund

 

The schedules are not audited.

 

 

Voya Infrastructure, Industrials and Materials Fund

PORTFOLIO OF INVESTMENTS as of November 30, 2015 (Unaudited)

 

 

Voya Infrastructure, Industrials and Materials Fund

PORTFOLIO OF INVESTMENTS as of November 30, 2015 (Unaudited) (Continued)

  

 

Voya Infrastructure, Industrials and Materials Fund

PORTFOLIO OF INVESTMENTS as of November 30, 2015 (Unaudited) (Continued)

 

Fair Value Measurements

The following is a summary of the fair valuations according to the inputs used as of November 30, 2015 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 November 30, 2015
Asset Table
Investments, at fair value
Common Stock
Australia		$	–			$	4,815,158			$	–			$	4,815,158
Brazil			4,101,900				–				–				4,101,900
China			5,494,132				4,344,058				–				9,838,190
France			–				18,166,176				–				18,166,176
Germany			–				13,098,042				–				13,098,042
India			–				6,876,016				–				6,876,016
Indonesia			–				2,543,094				–				2,543,094
Israel			–				4,268,733				–				4,268,733
Italy			–				5,621,719				–				5,621,719
Japan			–				29,295,865				–				29,295,865
Netherlands			–				14,791,353				–				14,791,353
South Africa			–				2,818,208				–				2,818,208
South Korea			–				3,604,354				–				3,604,354
Spain			–				4,070,631				–				4,070,631
Sweden			–				7,730,069				–				7,730,069
Switzerland			–				4,292,931				–				4,292,931
United Kingdom			–				3,184,223				–				3,184,223
United States			151,583,562				–				–				151,583,562
Total Common Stock			161,179,594				129,520,630				–				290,700,224
Preferred Stock			1,282,092				–				–				1,282,092
Short-Term Investments			7,415,000				–				–				7,415,000
Total Investments, at fair value		$	169,876,686			$	129,520,630			$	–			$	299,397,316
Liabilities Table
Other Financial Instruments+
Written Options		$	–			$	(854,777	)		$	–			$	(854,777	)
Total Liabilities		$	–			$	(854,777	)		$	–			$	(854,777	)

 

 

+

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 November 30, 2015, the following over-the-counter written options were outstanding for Voya Infrastructure, Industrials and Materials Fund:

 

Number of Contracts				Counterparty		Description		Exercise Price					Expiration Date		Premiums Received				Fair Value
Options on Indices
	668,724			Merrill Lynch		Call on Industrial Select Sector SPDR® Fund			55.090		USD		12/17/15		$	607,870			$	(342,463	)
	771,045			JPMorgan Chase & Co.		Call on iShares MSCI EAFE ETF			61.060		USD		12/17/15			720,310				(246,667	)
	146,103			JPMorgan Chase & Co.		Call on iShares MSCI Emerging Markets ETF			34.770		USD		12/17/15			114,808				(51,249	)
	325,378			Merrill Lynch		Call on Materials Select Sector SPDR® Fund			45.670		USD		12/17/15			289,782				(214,398	)
						Total Written OTC Options									$	1,732,770			$	(854,777	)

 

 

Voya Infrastructure, Industrials and Materials Fund

PORTFOLIO OF INVESTMENTS as of November 30, 2015 (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 November 30, 2015 was as follows:

 

		Instrument Type		Fair Value
Derivatives not accounted for as hedging instruments
Liability Derivatives
Equity contracts		Written options		$	854,777
Total Liability Derivatives				$	854,777

 

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 November 30, 2015:

 

		JPMorgan Chase & Co.				Merrill Lynch				Totals
Liabilities:
Written options		$	297,916			$	556,861			$	854,777
Total Liabilities		$	297,916			$	556,861			$	854,777
Net OTC derivative instruments by counterparty, at fair value		$	(297,916	)		$	(556,861	)			(854,777	)
Total collateral pledged by the Fund/(Received from counterparty)		$	-			$	-			$	-
Net Exposure(1)		$	(297,916	)		$	(556,861	)		$	(854,777	)

 

(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 Infrastructure, Industrials and Materials Fund
By	/s/ Shaun P. Mathews
	Shaun P. Mathews
	President and Chief Executive Officer
Date:	January 22, 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:	January 22, 2016
By	/s/ Todd Modic
	Todd Modic
	Senior Vice President and Chief Financial Officer
Date:	January 22, 2016