The Voya Target Retirement 2040 Fund Class R is a target-date mutual fund structured to help investors prepare for retirement, specifically those anticipating retirement between 2038 and 2042. This fund uses a diversified blend of actively and passively managed underlying investments, including mutual funds and exchange-traded funds. Early in its lifecycle, it emphasizes asset accumulation with a higher allocation to equities, aiming for growth, and then gradually reallocates towards fixed income and more conservative assets as the target date approaches to help protect accumulated capital. The fund follows a defined glide path that systematically reduces investment risk and equity exposure as participants age. Holdings include broad exposure to U.S. large-cap stocks, international equities, and a core of bond funds, managed by Voya’s experienced multi-asset team. Annual dividend payments are part of its structure. With its multi-manager approach and open-architecture investment framework, the fund plays a critical role for those seeking a single, professionally managed solution that adjusts risk over time, making it a cornerstone option in retirement planning for a wide range of investors.
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