As filed with the U.S. Securities and Exchange Commission on April 24, 2024
Securities Act File No. 333-278042
U.S. SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM N-14
REGISTRATION STATEMENT UNDER THE SECURITIES ACT OF 1933 x
Pre-Effective Amendment No.
Post-Effective Amendment No. 1
VOYA PARTNERS, INC.
(Exact Name of Registrant as Specified in Charter)
7337 East Doubletree Ranch Road, Scottsdale, Suite 100
Scottsdale, Arizona 85258-2034
(Address of Principal Executive Offices) (Zip Code)
1-800-992-0180
(Registrant's Area Code and Telephone Number)
Huey P. Falgout, Jr., Esq.
Voya Investments, LLC
7337 East Doubletree Ranch Road, Suite 100
Scottsdale, Arizona 85258-2034
(Name and Address of Agent for Service)
With copies to:
Elizabeth J. Reza, Esq.
Ropes & Gray LLP
Prudential Tower
800 Boylston Street
Boston, Massachusetts 02199-3600
APPROXIMATE DATE OF PROPOSED PUBLIC OFFERING:
As soon as practicable after this Registration Statement becomes effective.
It is proposed that this filing will become effective immediately, pursuant to Rule 485(b) under the Securities Act of 1933, as
amended.
No filing fee is required because an indefinite number of shares have previously been registered pursuant to Rule 24f-2 under the
Investment Company Act of 1940, as amended.
Title of Securities Being Registered: Class I and Class S shares of capital stock in the series of the registrant designated as Voya
Solution Balanced Portfolio.
ACQUISITION OF THE ASSETS OF:
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BY AND IN EXCHANGE FOR SHARES OF:
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Voya Strategic Allocation Moderate Portfolio
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Voya Solution Balanced Portfolio
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(A series of Voya Strategic Allocation Portfolios, Inc.)
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(A series of Voya Partners, Inc.)
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7337 East Doubletree Ranch Road, Suite 100
Scottsdale, AZ 85258-2034
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7337 East Doubletree Ranch Road, Suite 100
Scottsdale, AZ 85258-2034
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1-800-992-0180
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1-800-262-3862
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By Phone:
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1-800-992-0180
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By Mail:
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Voya Investment Management
7337 East Doubletree Ranch Road, Suite 100
Scottsdale, AZ 85258-2034
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By Internet:
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https://individuals.voya.com/literature
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A-1
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B-1
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C-1
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Strategic Allocation Moderate Portfolio
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Solution Balanced Portfolio
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Investment Objective
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The Portfolio seeks to provide total return (i.e., income
and capital appreciation, both realized and unrealized).
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The Portfolio seeks to provide capital growth through a
diversified asset allocation strategy.
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Annual Portfolio Operating Expenses
Expenses you pay each year as a % of the value of your investment
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Strategic Allocation Moderate Portfolio
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Solution Balanced Portfolio
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Solution Balanced Portfolio
Pro Forma
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Class I
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Management Fees
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%
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0.18
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0.21
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0.18
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Distribution and/or Shareholder Services
(12b-1) Fees
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%
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None
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None
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None
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Other Expenses
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%
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0.16
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0.12
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0.13
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Acquired Fund Fees and Expenses
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0.441
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0.481
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0.481
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Total Annual Portfolio Operating Expenses
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%
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0.78
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0.81
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0.79
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Waivers and Reimbursements
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%
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(0.03)2
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(0.01)3
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(0.04)4
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Total Annual Portfolio Operating Expenses
after Waivers and Reimbursements
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%
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0.75
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0.80
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0.75
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Class S
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Management Fees
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%
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0.18
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0.21
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0.18
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Distribution and/or Shareholder Services
(12b-1) Fees
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%
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0.25
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0.25
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0.25
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Other Expenses
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%
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0.16
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0.12
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0.13
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Acquired Fund Fees and Expenses
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0.441
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0.481
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0.481
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Total Annual Portfolio Operating Expenses
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%
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1.03
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1.06
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1.04
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Waivers and Reimbursements
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%
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(0.03)2
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(0.01)3
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(0.04)4
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Total Annual Portfolio Operating Expenses
after Waivers and Reimbursements
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%
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1.00
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1.05
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1.00
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Strategic Allocation Moderate
Portfolio
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Solution Balanced Portfolio
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Solution Balanced Portfolio
Pro Forma
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Class
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1 Yr
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3 Yrs
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5 Yrs
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10 Yrs
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1 Yr
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3 Yrs
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5 Yrs
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10 Yrs
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1 Yr
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3 Yrs
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5 Yrs
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10 Yrs
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Class I
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$
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77
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243
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427
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960
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82
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257
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448
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1,000
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77
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244
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431
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970
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Class S
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$
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102
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322
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563
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1,254
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107
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335
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583
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1,292
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102
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323
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566
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1,264
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Strategic Allocation Moderate Portfolio
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Solution Balanced Portfolio
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Investment
Strategies
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Under normal market conditions, the sub-adviser (the
“Sub-Adviser”) invests the assets of the Portfolio primarily
in a combination of other funds (collectively, the “Underlying
Funds”) that, in turn invest, in varying degrees, among several
classes of equities, fixed-income instruments, emerging markets
debt, and money market instruments. The Portfolio normally
invests at least 80% of its assets in Underlying Funds affiliated
with the Investment Adviser, although the Sub-Adviser may
in its discretion invest up to 20% of the Portfolio’s assets
in Underlying Funds that are not affiliated with the Investment
Adviser, including exchange-traded funds (“ETFs”).
The Portfolio invests in a combination of Underlying Funds
that reflects a target allocation of approximately 60% of its
net assets in equity securities and 40% of its net assets in
fixed-income instruments (the “Target Allocation”).
The Portfolio’s assets normally will be invested in accordance
with its Target Allocation. As this is a Target Allocation, the
actual allocations of the Portfolio’s assets may deviate from
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The Portfolio invests primarily in a combination of underlying
funds, which are actively managed funds or passively managed
funds (index funds) (collectively, the “Underlying Funds”). The
Underlying Funds may or may not be affiliated with the
Investment Adviser. The Underlying Funds invest in U.S. stocks,
international stocks, U.S. bonds, and other fixed-income
instruments and the Portfolio uses an asset allocation strategy
designed for investors saving for retirement. The Portfolio’s
current approximate target investment allocation (expressed
as a percentage of its net assets) (the “Target Allocation”)
among the Underlying Funds is: 60% in equity securities and
40% in fixed-income instruments. Although this is the Target
Allocation, the actual allocation of the Portfolio’s assets may
deviate from the percentages shown.
The Portfolio normally invests at least 80% of its assets in
Underlying Funds affiliated with the Investment Adviser, although
the sub-adviser (the “Sub-Adviser”) may in its discretion invest
up to 20% of the Portfolio’s assets in Underlying Funds that
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Strategic Allocation Moderate Portfolio
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Solution Balanced Portfolio
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the percentages shown. The Target Allocation is measured
with reference to the principal investment strategies of the
Underlying Funds; actual exposure to these asset classes
will vary from the Target Allocation if an Underlying Fund is
not substantially invested in accordance with its principal
investment strategies. The Portfolio may be rebalanced
periodically to return to the Target Allocation. The Portfolio’s
Target Allocation may be changed, at any time, in accordance
with the Portfolio’s asset allocation process. The Portfolio
may periodically deviate from the Target Allocation based on
an assessment of the current market conditions or other factors.
Generally, the deviations fall in the range of +/- 10% relative
to the current Target Allocation. The Investment Adviser may
determine, in light of market conditions or other factors, to
deviate by a wider margin in order to protect the Portfolio,
achieve its investment objective, or to take advantage of
particular opportunities.
The Underlying Funds provide exposure to a wide range of
traditional asset classes which includes stocks, bonds, and
cash; and non-traditional asset classes (also known as
alternative strategies) which includes real estate, commodities,
and floating rate loans.
The equity securities in which the Underlying Funds may invest
include, but are not limited to, the following: domestic and
international large-, mid-, and small-capitalization stocks;
emerging market securities; and real estate-related securities,
including real estate investment trusts (“REITs”).
The fixed-income instruments in which the Underlying Funds
may invest include, but are not limited to, the following: domestic
and international fixed-income instruments including high-yield
(high-risk) securities commonly referred to as “junk bonds”
and fixed-income instruments without limitation on maturity.
The Sub-Adviser may change the Portfolio’s asset allocations,
investments in particular Underlying Funds (including Underlying
Funds organized in the future), Target Allocation, or other
investment policies without the approval of shareholders as
it determines necessary to pursue the Portfolio’s investment
objective.
When investing in Underlying Funds, the Sub-Adviser takes
into account a wide variety of factors and considerations,
including among other things the investment strategy employed
in the management of a potential Underlying Fund, and the
extent to which an Underlying Fund’s investment adviser
considers environmental, social, and governance (“ESG”) factors
as part of its investment process. The manner in which an
Underlying Fund’s investment adviser uses ESG factors in
its investment process will be only one of many considerations
in the Sub-Adviser’s evaluation of any potential Underlying
Fund, and the extent to which the consideration of ESG factors
by an Underlying Fund’s investment adviser will affect the
Sub-Adviser’s decision to invest in an Underlying Fund, if at
all, will depend on the analysis and judgment of the Sub-Adviser.
The current group of Underlying Funds in which the Portfolio
may invest includes “index plus” funds. Generally these funds
seek to outperform a designated index of equity securities
by investing in a portion of the securities included in the index.
Also, some Underlying Funds may use growth or value investing
strategies.
The Portfolio may invest in derivative instruments including
futures and swaps (including interest rate swaps, total return
swaps, and credit default swaps) to make tactical allocations,
as a substitute for taking a position in the underlying asset,
and to assist in managing cash.
The Investment Adviser will oversee the Target Allocation and
the selection of Underlying Funds by the Sub-Adviser.
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are not affiliated with the Investment Adviser, including
exchange-traded funds (“ETFs”).
The Target Allocation is measured with reference to the principal
investment strategies of the Underlying Funds; actual exposure
to equity securities and fixed-income instruments will vary
from the Target Allocation if an Underlying Fund is not
substantially invested in accordance with its principal investment
strategy. The Portfolio may periodically deviate from the Target
Allocation based on an assessment of the current market
conditions or other factors. Generally, the deviations fall within
the range of +/- 10% relative to the current Target Allocation.
The Sub-Adviser may determine, in light of market conditions
or other factors, to deviate by a wider margin in order to protect
the Portfolio, achieve its investment objective, or to take
advantage of particular opportunities.
The Underlying Funds provide exposure to a wide range of
traditional asset classes which include, but are not limited
to: stocks, bonds, and cash and non-traditional asset classes
(also known as alternative strategies) which include, but are
not limited to the following: real estate, commodities, and
floating rate loans.
Equity securities in which the Underlying Funds invest include,
but are not limited to the following: domestic and international
large-, mid-, and small-capitalization stocks (which may be
growth oriented, value oriented, or a blend); emerging market
securities; domestic and international real estate-related
securities, including real estate investment trusts (“REITs”);
and natural resource/commodity securities.
Fixed-income instruments in which the Underlying Funds invest
include, but are not limited to the following: domestic and
international long-, intermediate-, and short-term bonds;
high-yield bonds commonly referred to as “junk bonds;” floating
rate loans; and U.S. Treasury Inflation-Protected Securities.
When investing in Underlying Funds, the Sub-Adviser takes
into account a wide variety of factors and considerations,
including among other things the investment strategy employed
in the management of a potential Underlying Fund, and the
extent to which an Underlying Fund’s investment adviser
considers environmental, social, and governance (“ESG”) factors
as part of its investment process. The manner in which an
investment adviser uses ESG factors in its investment process
will be only one of many considerations in the Sub-Adviser’s
evaluation of any potential Underlying Fund, and the extent
to which the consideration of ESG factors by an investment
adviser will affect the Sub-Adviser’s decision to invest in an
Underlying Fund, if at all, will depend on the analysis and
judgment of the Sub-Adviser.
The Portfolio may also invest in derivatives, including futures
and swaps (including interest rate swaps, total return swaps,
and credit default swaps), to make tactical asset allocations,
to seek to minimize risk, and to assist in managing cash.
The Portfolio may also allocate in the future to the following
asset class: emerging markets fixed-income instruments. There
can be no assurance that this allocation will occur.
The Portfolio will be rebalanced periodically to return to the
Target Allocation. The Target Allocation may be changed at
any time by the Sub-Adviser.
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Risks
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Strategic Allocation Moderate Portfolio
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Solution Balanced Portfolio
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Affiliated Underlying Funds: The Sub-Adviser’s selection of
Underlying Funds presents conflicts of interest. The net
management fee revenue received or costs incurred by the
Sub-Adviser and its affiliates will vary depending on the
Underlying Funds it selects for the Portfolio, and the
Sub-Adviser will have an incentive to select the Underlying
Funds (whether or not affiliated with the Sub-Adviser) that will
result in the greatest net management fee revenue or lowest
costs to the Sub-Adviser and its affiliates, even if that results
in increased expenses and potentially less favorable
investment performance for the Portfolio. The Sub-Adviser may
prefer to invest in an affiliated Underlying Fund over an
unaffiliated Underlying Fund because the investment may be
beneficial to the Sub-Adviser in managing the affiliated
Underlying Fund by helping the affiliated Underlying Fund
achieve economies of scale or by enhancing cash flows to the
affiliated Underlying Fund. For similar reasons, the Sub-Adviser
may have an incentive to delay or decide against the sale of
interests held by the Portfolio in affiliated Underlying Funds,
and the Sub-Adviser may implement Underlying Fund changes
in a manner intended to minimize the disruptive effects and
added costs of those changes to affiliated Underlying Funds.
Although the Portfolio may invest a portion of its assets in
unaffiliated Underlying Funds, there is no assurance that it will
do so even in cases where the unaffiliated Underlying Funds
incur lower fees or have achieved better historical investment
performance than the comparable affiliated Underlying Funds.
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Asset Allocation: Investment performance depends on the
manager’s skill in allocating assets among the asset classes
in which the Portfolio invests and in choosing investments
within those asset classes. There is a risk that the manager
may allocate assets or investments to or within an asset class
that underperforms compared to other asset classes or
investments. The Portfolio may underperform funds that
allocate their assets differently than the Portfolio, due to
differences in the relative performance of asset classes and
subsets of asset classes.
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Risks
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Strategic Allocation Moderate Portfolio
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Solution Balanced Portfolio
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Bank Instruments: Bank instruments include certificates of
deposit, fixed time deposits, bankers’ acceptances, and other
debt and deposit-type obligations issued by banks. Changes in
economic, regulatory, or political conditions, or other events
that affect the banking industry may have an adverse effect on
bank instruments or banking institutions that serve as
counterparties in transactions with the Portfolio. In the event
of a bank insolvency or failure, the Portfolio may be considered
a general creditor of the bank, and it might lose some or all of
the funds deposited with the bank. Even where it is recognized
that a bank might be in danger of insolvency or failure, the
Portfolio might not be able to withdraw or transfer its money
from the bank in time to avoid any adverse effects of the
insolvency or failure.
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Cash/Cash Equivalents: Investments in cash or cash
equivalents may lower returns and result in potential lost
opportunities to participate in market appreciation which could
negatively impact the Portfolio’s performance and ability to
achieve its investment objective.
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China Investing Risks: The Chinese economy is generally
considered an emerging and volatile market. Although China
has experienced a relatively stable political environment in
recent years, there is no guarantee that such stability will be
maintained in the future. Significant portions of the Chinese
securities markets may become rapidly illiquid because
Chinese issuers have the ability to suspend the trading of their
equity securities under certain circumstances, and have shown
a willingness to exercise that option in response to market
volatility, epidemics, pandemics, adverse economic, market or
political events, and other events. Political, regulatory and
diplomatic events, such as the U.S.-China “trade war” that
intensified in 2018, could have an adverse effect on the
Chinese or Hong Kong economies and on related investments.
In addition, U.S. or foreign government restrictions on
investments in Chinese companies or other intervention could
negatively affect the implementation of the Portfolio's
investment strategies, such as by precluding the Portfolio from
making certain investments or causing the Portfolio to sell
investments at disadvantageous times.
Investing through Stock Connect: Shares in mainland
China-based companies that trade on Chinese stock
exchanges such as the Shanghai Stock Exchange and the
Shenzhen Stock Exchange (“China A-Shares”) may be
purchased directly or indirectly through the Shanghai-Hong
Kong Stock Connect (“Stock Connect”), a mutual market
access program designed to, among other things, enable
foreign investment in the People’s Republic of China (“PRC”)
via brokers in Hong Kong. There are significant risks inherent
in investing in China A-Shares through Stock Connect. The
underdeveloped state of PRC’s investment and banking
systems subjects the settlement, clearing, and registration of
China A-Shares transactions to heightened risks. Stock
Connect can only operate when both PRC and Hong Kong
markets are open for trading and when banking services are
available in both markets on the corresponding settlement
days. As such, if either or both markets are closed on a U.S.
trading day, the Portfolio may not be able to dispose of its
China A-Shares in a timely manner, which could adversely
affect the Portfolio’s performance.
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Commodities: Commodity prices can have significant volatility,
and exposure to commodities can cause the net asset value of
the Portfolio’s shares to decline or fluctuate in a rapid and
unpredictable manner. A liquid secondary market may not exist
for certain commodity-related investments, which may make it
difficult for the Portfolio to sell them at a desirable price or
time.
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Risks
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Strategic Allocation Moderate Portfolio
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Solution Balanced Portfolio
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Company: The price of a company’s stock could decline or
underperform for many reasons, including, among others, poor
management, financial problems, reduced demand for the
company’s goods or services, regulatory fines and judgments,
or business challenges. If a company is unable to meet its
financial obligations, declares bankruptcy, or becomes
insolvent, its stock could become worthless.
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Credit: The Portfolio could lose money if the issuer or guarantor
of a debt instrument in which the Portfolio invests, or the
counterparty to a derivative contract the Portfolio entered into,
is unable or unwilling, or is perceived (whether by market
participants, rating agencies, pricing services, or otherwise) as
unable or unwilling, to meet its financial obligations.
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Credit Default Swaps: The Portfolio may enter into credit
default swaps, either as a buyer or a seller of the swap. A
buyer of a credit default swap is generally obligated to pay the
seller an upfront or a periodic stream of payments over the
term of the contract until a credit event, such as a default, on
a reference obligation has occurred. If a credit event occurs,
the seller generally must pay the buyer the “par value” (full
notional value) of the swap in exchange for an equal face
amount of deliverable obligations of the reference entity
described in the swap, or the seller may be required to deliver
the related net cash amount if the swap is cash settled. As a
seller of a credit default swap, the Portfolio would effectively
add leverage to its portfolio because, in addition to its total
net assets, the Portfolio would be subject to investment
exposure on the full notional value of the swap. Credit default
swaps are particularly subject to counterparty, credit,
valuation, liquidity, and leveraging risks and the risk that the
swap may not correlate with its reference obligation as
expected. Certain standardized credit default swaps are
subject to mandatory central clearing. Central clearing is
expected to reduce counterparty credit risk and increase
liquidity; however, there is no assurance that it will achieve
that result, and, in the meantime, central clearing and related
requirements expose the Portfolio to new kinds of costs and
risks. In addition, credit default swaps expose the Portfolio to
the risk of improper valuation.
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Currency: To the extent that the Portfolio invests directly or
indirectly in foreign (non-U.S.) currencies or in securities
denominated in, or that trade in, foreign (non-U.S.) currencies,
it is subject to the risk that those foreign (non-U.S.) currencies
will decline in value relative to the U.S. dollar or, in the case of
hedging positions, that the U.S. dollar will decline in value
relative to the currency being hedged by the Portfolio through
foreign currency exchange transactions.
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Deflation: Deflation occurs when prices throughout the
economy decline over time—the opposite of inflation. Unless
repayment of the original bond principal upon maturity (as
adjusted for inflation) is guaranteed, when there is deflation,
the principal and income of an inflation-protected bond will
decline and could result in losses.
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Risks
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Strategic Allocation Moderate Portfolio
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Solution Balanced Portfolio
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Derivative Instruments: Derivative instruments are subject to a
number of risks, including the risk of changes in the market
price of the underlying asset, reference rate, or index credit
risk with respect to the counterparty, risk of loss due to
changes in market interest rates, liquidity risk, valuation risk,
and volatility risk. The amounts required to purchase certain
derivatives may be small relative to the magnitude of exposure
assumed by the Portfolio. Therefore, the purchase of certain
derivatives may have an economic leveraging effect on the
Portfolio and exaggerate any increase or decrease in the net
asset value. Derivatives may not perform as expected, so the
Portfolio may not realize the intended benefits. When used for
hedging purposes, the change in value of a derivative may not
correlate as expected with the asset, reference rate, or index
being hedged. When used as an alternative or substitute for
direct cash investment, the return provided by the derivative
may not provide the same return as direct cash investment.
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Environmental, Social, and Governance (Funds-of-Funds): The
Sub-Adviser’s consideration of ESG factors in selecting
Underlying Funds for investment by the Portfolio is based on
information that is not standardized, some of which can be
qualitative and subjective by nature. There is no minimum
percentage of the Portfolio’s assets that will be allocated to
Underlying Funds on the basis of ESG factors, and the
Sub-Adviser may choose to select Underlying Funds on the
basis of factors or considerations other than ESG factors. It is
possible that the Portfolio will have less exposure to
ESG-focused strategies than other comparable mutual funds.
There can be no assurance that an Underlying Fund selected
by the Sub-Adviser, which includes its consideration of ESG
factors, will provide more favorable investment performance
than another potential Underlying Fund, and such an Underlying
Fund may, in fact, underperform other potential Underlying
Funds.
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Floating Rate Loans: In the event a borrower fails to pay
scheduled interest or principal payments on a floating rate loan
(which can include certain bank loans), the Portfolio will
experience a reduction in its income and a decline in the
market value of such floating rate loan. If a floating rate loan is
held by the Portfolio through another financial institution, or
the Portfolio relies upon another financial institution to
administer the loan, the receipt of scheduled interest or
principal payments may be subject to the credit risk of such
financial institution. Investors in floating rate loans may not be
afforded the protections of the anti-fraud provisions of the
Securities Act of 1933, as amended, and the Securities
Exchange Act of 1934, as amended, because loans may not
be considered “securities” under such laws. Additionally, the
value of collateral, if any, securing a floating rate loan can
decline or may be insufficient to meet the borrower’s
obligations under the loan, and such collateral may be difficult
to liquidate. No active trading market may exist for many
floating rate loans and many floating rate loans are subject to
restrictions on resale. Transactions in loans typically settle on
a delayed basis and may take longer than 7 days to settle. As
a result, the Portfolio may not receive the proceeds from a
sale of a floating rate loan for a significant period of time.
Delay in the receipts of settlement proceeds may impair the
ability of the Portfolio to meet its redemption obligations, and
may limit the ability of the Portfolio to repay debt, pay
dividends, or to take advantage of new investment
opportunities.
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Risks
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Strategic Allocation Moderate Portfolio
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Solution Balanced Portfolio
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Foreign (Non-U.S.) Investments/Developing and Emerging
Markets: Investing in foreign (non-U.S.) securities may result in
the Portfolio experiencing more rapid and extreme changes in
value than a fund that invests exclusively in securities of U.S.
companies due, in part, to: smaller markets; differing
reporting, accounting, auditing, and financial reporting
standards and practices; nationalization, expropriation, or
confiscatory taxation; foreign currency fluctuations, currency
blockage, or replacement; potential for default on sovereign
debt; and political changes or diplomatic developments, which
may include the imposition of economic sanctions (or threat of
new or modified sanctions) or other measures by the U.S. or
other governments and supranational organizations. Markets
and economies throughout the world are becoming increasingly
interconnected, and conditions or events in one market,
country, or region may adversely impact investments or issuers
in another market, country, or region. Foreign (non-U.S.)
investment risks may be greater in developing and emerging
markets than in developed markets.
|
✔
|
✔
|
Growth Investing: Prices of growth-oriented stocks are more
sensitive to investor perceptions of the issuer’s growth
potential and may fall quickly and significantly if investors
suspect that actual growth may be less than expected. There
is a risk that funds that invest in growth-oriented stocks may
underperform other funds that invest more broadly.
Growth-oriented stocks tend to be more volatile than
value-oriented stocks, and may underperform the market as a
whole over any given time period.
|
✔
|
✔
|
High-Yield Securities: Lower-quality securities (including
securities that are or have fallen below investment grade and
are classified as “junk bonds” or “high-yield securities”) have
greater credit risk and liquidity risk than higher-quality
(investment grade) securities, and their issuers’ long-term
ability to make payments is considered speculative. Prices of
lower-quality bonds or other debt instruments are also more
volatile, are more sensitive to negative news about the
economy or the issuer, and have greater liquidity risk and price
volatility.
|
✔
|
✔
|
Risks
|
Strategic Allocation Moderate Portfolio
|
Solution Balanced Portfolio
|
Index Strategy (Funds-of-Funds): An Underlying Fund (or a
portion of the Underlying Fund) that seeks to track an index’s
performance and does not use defensive strategies or attempt
to reduce its exposure to poor performing securities in an
index may underperform the overall market (each, an
“Underlying Index Fund”). To the extent an Underlying Index
Fund’s investments track its target index, such Underlying
Index Fund may underperform other funds that invest more
broadly. Errors in index data, index computations or the
construction of the index in accordance with its methodology
may occur from time to time and may not be identified and
corrected by the index provider for a period of time or at all,
which may have an adverse impact on the Portfolio. The
correlation between an Underlying Index Fund’s performance
and index performance may be affected by the timing of
purchases and redemptions of the Underlying Index Fund’s
shares. The correlation between an Underlying Index Fund’s
performance and index performance will be reduced by the
Underlying Index Fund’s expenses and could be reduced by the
timing of purchases and redemptions of the Underlying Index
Fund’s shares. In addition, an Underlying Index Fund’s actual
holdings might not match the index and an Underlying Index
Fund’s effective exposure to index securities at any given time
may not precisely correlate. When deciding between Underlying
Index Funds benchmarked to the same index, the manager
may not select the Underlying Index Fund with the lowest
expenses. In particular, when deciding between Underlying
Index Funds benchmarked to the same index, the manager will
generally select an affiliated Underlying Index Fund, even when
the affiliated Underlying Index Fund has higher expenses than
an unaffiliated Underlying Index Fund. When the Portfolio
invests in an affiliated Underlying Index Fund with higher
expenses, the Portfolio’s performance will be lower than if the
Portfolio had invested in an Underlying Index Fund with
comparable performance but lower expenses (although any
expense limitation arrangements in place at the time might
have the effect of limiting or eliminating the amount of that
underperformance). The manager may select an unaffiliated
Underlying Index Fund, including an ETF, over an affiliated
Underlying Index Fund benchmarked to the same index when
the manager believes making an investment in the affiliated
Underlying Index Fund would be disadvantageous to the
affiliated Underlying Index Fund, such as when the Portfolio is
investing on a short-term basis.
|
✔
|
✔
|
Inflation-Indexed Bonds: If the index measuring inflation falls,
the principal value of inflation-indexed bonds will be adjusted
downward, and consequently, the interest payable on these
bonds (calculated with respect to a smaller principal amount)
will be reduced. In addition, inflation-indexed bonds are subject
to the usual risks associated with debt instruments, such as
interest rate and credit risk. Repayment of the original bond
principal upon maturity (as adjusted for inflation) is guaranteed
in the case of U.S. Treasury inflation-indexed bonds. For bonds
that do not provide a similar guarantee, the adjusted principal
value of the bond repaid at maturity may be less than the
original principal.
|
|
✔
|
Interest in Loans: The value and the income streams of
interests in loans (including participation interests in lease
financings and assignments in secured variable or floating rate
loans) will decline if borrowers delay payments or fail to pay
altogether. A significant rise in market interest rates could
increase this risk. Although loans may be fully collateralized
when purchased, such collateral may become illiquid or decline
in value.
|
✔
|
|
Risks
|
Strategic Allocation Moderate Portfolio
|
Solution Balanced Portfolio
|
Interest Rate: A rise in market interest rates generally results
in a fall in the value of bonds and other debt instruments;
conversely, values generally rise as market interest rates fall.
Interest rate risk is generally greater for debt instruments than
floating rate instruments. The higher the credit quality of the
instrument, and the longer its maturity or duration, the more
sensitive it is to changes in market interest rates. Duration is a
measure of sensitivity of the price of a fixed-income instrument
to a change in interest rate. As of the date of this Proxy
Statement/Prospectus, the U.S. has recently experienced a
rising market interest rate environment, which may increase
the Portfolio’s exposure to risks associated with rising market
interest rates. Rising market interest rates have unpredictable
effects on the markets and may expose fixed-income and
related markets to heightened volatility. To the extent that the
Portfolio invests in debt instruments, an increase in market
interest rates may lead to increased redemptions and
increased portfolio turnover, which could reduce liquidity for
certain investments, adversely affect values, and increase
costs. Increased redemptions may cause the Portfolio to
liquidate portfolio positions when it may not be advantageous
to do so and may lower returns. If dealer capacity in
fixed-income markets is insufficient for market conditions, it
may further inhibit liquidity and increase volatility in the
fixed-income markets. Further, recent and potential future
changes in government policy may affect interest rates.
Negative or very low interest rates could magnify the risks
associated with changes in interest rates. In general, changing
interest rates, including rates that fall below zero, could have
unpredictable effects on markets and may expose fixed-income
and related markets to heightened volatility. Changes to
monetary policy by the U.S. Federal Reserve Board or other
regulatory actions could expose fixed-income and related
markets to heightened volatility, interest rate sensitivity, and
reduced liquidity, which may impact the Portfolio’s operations
and return potential.
|
✔
|
✔
|
Risks
|
Strategic Allocation Moderate Portfolio
|
Solution Balanced Portfolio
|
LIBOR Transition and Reference Benchmarks: The London
Interbank Offered Rate (“LIBOR”) was the offered rate for
short-term Eurodollar deposits between major international
banks. The terms of investments, financings or other
transactions (including certain derivatives transactions) to
which the Portfolio may be a party have historically been tied
to LIBOR. In connection with the global transition away from
LIBOR led by regulators and market participants, LIBOR was
last published on a representative basis at the end of June
2023. Alternative reference rates to LIBOR have been
established in most major currencies and markets in these
new rates are continuing to develop. The transition away from
LIBOR to the use of replacement rates has gone relatively
smoothly but the full impact of the transition on the Portfolio or
the financial instruments in which the Portfolio invests cannot
yet be fully determined.
In addition, interest rates or other types of rates and indices
which are classed as “benchmarks” have been the subject of
ongoing national and international regulatory reform, including
under the European Union regulation on indices used as
benchmarks in financial instruments and financial contracts
(known as the “Benchmarks Regulation”). The Benchmarks
Regulation has been enacted into United Kingdom law by virtue
of the European Union (Withdrawal) Act 2018 (as amended),
subject to amendments made by the Benchmarks (Amendment
and Transitional Provision) (EU Exit) Regulations 2019 (SI
2019/657) and other statutory instruments. Following the
implementation of these reforms, the manner of administration
of benchmarks has changed and may further change in the
future, with the result that relevant benchmarks may perform
differently than in the past, the use of benchmarks that are not
compliant with the new standards by certain supervised
entities may be restricted, and certain benchmarks may be
eliminated entirely. Such changes could cause increased
market volatility and disruptions in liquidity for instruments that
rely on or are impacted by such benchmarks. Additionally, there
could be other consequences which cannot be predicted.
|
✔
|
✔
|
Liquidity: If a security is illiquid, the Portfolio might be unable
to sell the security at a time when the Portfolio’s manager
might wish to sell, or at all. Further, the lack of an established
secondary market may make it more difficult to value illiquid
securities, exposing the Portfolio to the risk that the prices at
which it sells illiquid securities will be less than the prices at
which they were valued when held by the Portfolio, which could
cause the Portfolio to lose money. The prices of illiquid
securities may be more volatile than more liquid securities,
and the risks associated with illiquid securities may be greater
in times of financial stress.
|
✔
|
✔
|
Market: The market values of securities will fluctuate,
sometimes sharply and unpredictably, based on overall
economic conditions, governmental actions or intervention,
market disruptions caused by trade disputes or other factors,
political developments, and other factors. Prices of equity
securities tend to rise and fall more dramatically than those of
debt instruments. Additionally, legislative, regulatory, or tax
policies or developments may adversely impact the investment
techniques available to a manager, add to costs and impair the
ability of the Portfolio to achieve its investment objectives.
|
✔
|
✔
|
Risks
|
Strategic Allocation Moderate Portfolio
|
Solution Balanced Portfolio
|
Market Capitalization: Stocks fall into three broad market
capitalization categories: large, mid, and small. Investing
primarily in one category carries the risk that, due to current
market conditions, that category may be out of favor with
investors. If valuations of large-capitalization companies
appear to be greatly out of proportion to the valuations of mid-
or small-capitalization companies, investors may migrate to the
stocks of mid- and small-capitalization companies causing a
fund that invests in these companies to increase in value more
rapidly than a fund that invests in large-capitalization
companies. Investing in mid- and small-capitalization
companies may be subject to special risks associated with
narrower product lines, more limited financial resources,
smaller management groups, more limited publicly available
information, and a more limited trading market for their stocks
as compared with large-capitalization companies. As a result,
stocks of mid- and small-capitalization companies may be more
volatile and may decline significantly in market downturns.
|
✔
|
✔
|
Market Disruption and Geopolitical: The Portfolio is subject to
the risk that geopolitical events will disrupt securities markets
and adversely affect global economies and markets. Due to
the increasing interdependence among global economies and
markets, conditions in one country, market, or region might
adversely impact markets, issuers and/or foreign exchange
rates in other countries, including the United States. Wars,
terrorism, global health crises and pandemics, and other
geopolitical events that have led, and may continue to lead, to
increased market volatility and may have adverse short- or
long-term effects on U.S., and global economies and markets,
generally. For example, the COVID-19 pandemic has resulted,
and may continue to result, in significant market volatility,
exchange suspensions and closures, declines in global
financial markets, higher default rates, supply chain
disruptions, and a substantial economic downturn in
economies throughout the world. The economic impacts of
COVID-19 have created a unique challenge for real estate
markets. Many businesses have either partially or fully
transitioned to a remote-working environment and this
transition may negatively impact the occupancy rates of
commercial real estate over time. Natural and environmental
disasters and systemic market dislocations are also highly
disruptive to economies and markets. In addition, military
action by Russia in Ukraine has, and may continue to,
adversely affect global energy and financial markets and
therefore could affect the value of the Portfolio’s investments,
including beyond the Portfolio’s direct exposure to Russian
issuers or nearby geographic regions. The extent and duration
of the military action, sanctions, and resulting market
disruptions are impossible to predict and could be substantial.
A number of U.S. domestic banks and foreign (non-U.S.) banks
have recently experienced financial difficulties and, in some
cases, failures. There can be no certainty that the actions
taken by regulators to limit the effect of those financial
difficulties and failures on other banks or other financial
institutions or on the U.S. or foreign (non-U.S.) economies
generally will be successful. It is possible that more banks or
other financial institutions will experience financial difficulties
or fail, which may affect adversely other U.S. or foreign
(non-U.S.) financial institutions and economies. These events
as well as other changes in foreign (non-U.S.) and domestic
economic, social, and political conditions also could adversely
affect individual issuers or related groups of issuers, securities
markets, interest rates, credit ratings, inflation, investor
sentiment, and other factors affecting the value of the
Portfolio’s investments. Any of these occurrences could
disrupt the operations of the Portfolio and of the Portfolio’s
service providers.
|
✔
|
✔
|
Risks
|
Strategic Allocation Moderate Portfolio
|
Solution Balanced Portfolio
|
Natural Resources/Commodity Securities: The operations and
financial performance of companies in natural resources
industries may be directly affected by commodity prices. This
risk is exacerbated for those natural resources companies that
own the underlying commodity.
|
|
✔
|
Prepayment and Extension: Many types of debt instruments are
subject to prepayment and extension risk. Prepayment risk is
the risk that the issuer of a fixed-income instrument will pay
back the principal earlier than expected. This risk is heightened
in a falling market interest rate environment. Prepayment may
expose the Portfolio to a lower rate of return upon
reinvestment of principal. Also, if a fixed-income instrument
subject to prepayment has been purchased at a premium, the
value of the premium would be lost in the event of prepayment.
Extension risk is the risk that the issuer of a fixed-income
instrument will pay back the principal later than expected. This
risk is heightened in a rising market interest rate environment.
This may negatively affect performance, as the value of the
fixed-income instrument decreases when principal payments
are made later than expected. Additionally, the Portfolio may
be prevented from investing proceeds it would have received at
a given time at the higher prevailing interest rates.
|
✔
|
✔
|
Real Estate Companies and Real Estate Investment Trusts:
Investing in real estate companies and REITs may subject the
Portfolio to risks similar to those associated with the direct
ownership of real estate, including losses from casualty or
condemnation, changes in local and general economic
conditions, supply and demand, market interest rates, zoning
laws, regulatory limitations on rents, property taxes,
overbuilding, high foreclosure rates, and operating expenses in
addition to terrorist attacks, wars, or other acts that destroy
real property. In addition, REITs may also be affected by tax
and regulatory requirements in that a REIT may not qualify for
favorable tax treatment or regulatory exemptions. Investments
in REITs are affected by the management skill of the REIT’s
sponsor. The Portfolio will indirectly bear its proportionate
share of expenses, including management fees, paid by each
REIT in which it invests.
|
✔
|
✔
|
Underlying Funds: Because the Portfolio invests primarily in
Underlying Funds, the investment performance of the Portfolio
is directly related to the investment performance of the
Underlying Funds in which it invests. When the Portfolio invests
in an Underlying Fund, it is exposed indirectly to the risks of a
direct investment in the Underlying Fund. If the Portfolio
invests a significant portion of its assets in a single Underlying
Fund, it may be more susceptible to risks associated with that
Underlying Fund and its investments than if it invested in a
broader range of Underlying Funds. It is possible that more
than one Underlying Fund will hold securities of the same
issuers, thereby increasing the Portfolio’s indirect exposure to
those issuers. It also is possible that one Underlying Fund may
be selling a particular security when another is buying it,
producing little or no change in exposure but generating
transaction costs and/or resulting in realization of gains with
no economic benefit. There can be no assurance that the
investment objective of any Underlying Fund will be achieved. In
addition, the Portfolio’s shareholders will indirectly bear their
proportionate share of the Underlying Funds’ fees and
expenses, in addition to the fees and expenses of the Portfolio
itself.
|
✔
|
✔
|
Risks
|
Strategic Allocation Moderate Portfolio
|
Solution Balanced Portfolio
|
Value Investing: Securities that appear to be undervalued may
never appreciate to the extent expected. Further, because the
prices of value-oriented securities tend to correlate more
closely with economic cycles than growth-oriented securities,
they generally are more sensitive to changing economic
conditions, such as changes in market interest rates,
corporate earnings and industrial production. The manager may
be wrong in its assessment of a company’s value and the
securities the Portfolio holds may not reach their full values.
Risks associated with value investing include that a security
that is perceived by the manager to be undervalued may
actually be appropriately priced and, thus, may not appreciate
and provide anticipated capital growth. The market may not
favor value-oriented securities and may not favor equities at
all. During those periods, the Portfolio’s relative performance
may suffer. There is a risk that funds that invest in
value-oriented securities may underperform other funds that
invest more broadly.
|
✔
|
✔
|
Strategic Allocation Moderate Portfolio
|
Solution Balanced Portfolio
|
Diversification:
The Portfolio may not purchase securities of any issuer if, as a
result, with respect to 75% of the Portfolio’s total assets, more
than 5% of the value of its total assets would be invested in the
securities of any one issuer or the Portfolio’s ownership would be
more than 10% of the outstanding voting securities of any issuer,
provided that this restriction does not limit the Portfolio’s
investments in securities issued or guaranteed by the U.S.
government, its agencies, and instrumentalities, or investments in
securities of other registered management investment companies.
|
Diversification:
The Portfolio may not with respect to 75% of the Portfolio’s total
assets, purchase the securities of any issuer (other than securities
issued or guaranteed by the U.S. government or any of its agencies
or instrumentalities, or securities of other investment companies),
if as a result: (a) more than 5% of the Portfolio’s total assets
would be invested in the securities of that issuer; or (b) the
Portfolio would hold more than 10% of the outstanding voting
securities of that issuer.
|
Concentration:
The Portfolio may not purchase any securities which would cause
25% or more of the value of its total assets at the time of
purchase to be invested in securities of one or more issuers
conducting their principal business activities in the same industry,
provided that: (i) there is no limitation with respect to obligations
issued or guaranteed by the U.S. government, any state or territory
of the United States, or tax exempt securities issued by any of their
agencies, instrumentalities, or political subdivisions; and (ii)
notwithstanding this limitation or any other fundamental investment
limitation, assets may be invested in the securities of one or more
registered management investment companies to the extent
permitted by the 1940 Act, the rules and regulations thereunder
and any exemptive relief obtained by the Portfolio.
|
Concentration:
The Portfolio may not “concentrate” its investments in a particular
industry, as that term is used in the 1940 Act and as interpreted,
modified or otherwise permitted by any regulatory authority having
jurisdiction from time to time. This limitation will not apply to the
Portfolio’s investments in: (i) securities of other investment
companies; (ii) securities issued or guaranteed as to principal
and/or interest by the U.S. government, its agencies or
instrumentalities; or (iii) repurchase agreements (collateralized by
securities issued by the U.S. government, its agencies, or
instrumentalities).
|
Making Loans:
The Portfolio may not make loans, except to the extent permitted
under the 1940 Act, including the rules, regulations,
interpretations thereunder, and any exemptive relief obtained by
the Portfolio.
|
Making Loans:
The Portfolio may not make loans, except to the extent permitted
under the 1940 Act, including the rules, regulations,
interpretations and any orders obtained thereunder. For the
purposes of this limitation, entering into repurchase agreements,
lending securities and acquiring debt securities are not deemed to
be making of loans.
|
Strategic Allocation Moderate Portfolio
|
Solution Balanced Portfolio
|
Issuing Senior Securities:
The Portfolio may not issue senior securities except to the extent
permitted by the 1940 Act, the rules and regulations thereunder
and any exemptive relief obtained by the Portfolio.
|
Issuing Senior Securities:
The Portfolio may not issue any senior security (as defined in the
1940 Act), except that: (i) the Portfolio may enter into
commitments to purchase securities in accordance with the
Portfolio’s investment program, including reverse repurchase
agreements, delayed delivery and when-issued securities, which
may be considered the issuance of senior securities; (ii) the
Portfolio may engage in transactions that may result in the
issuance of a senior security to the extent permitted under the
1940 Act, including the rules, regulations, interpretations and any
orders obtained thereunder; (iii) the Portfolio may engage in short
sales of securities to the extent permitted in its investment
program and other restrictions; and (iv) the purchase of sale of
futures contracts and related options shall not be considered to
involve the issuance of senior securities.
|
Purchasing or Selling Real Estate:
The Portfolio may not purchase or sell real estate, except that the
Portfolio may: (i) acquire or lease office space for its own use; (ii)
invest in securities of issuers that invest in real estate or interests
therein; (iii) invest in mortgage-related securities and other
securities that are secured by real estate or interests therein; or
(iv) hold and sell real estate acquired by the Portfolio as a result of
the ownership of securities.
|
Purchasing or Selling Real Estate:
The Portfolio may not purchase or sell real estate, except that the
Portfolio may: (i) acquire or lease office space for its own use; (ii)
invest in securities of issuers that invest in real estate or interests
therein; (iii) invest in mortgage-related securities and other
securities that are secured by real estate or interests therein; or
(iv) hold and sell real estate acquired by the Portfolio as a result of
the ownership of securities.
|
Purchasing or Selling Commodities:
The Portfolio may not purchase or sell physical commodities,
unless acquired as a result of ownership of securities or other
instruments (but this shall not prevent the Portfolio from
purchasing or selling options and futures contracts or from
investing in securities or other instruments backed by physical
commodities). This limitation does not apply to foreign currency
transactions, including, without limitation, forward currency
contracts.
|
Purchasing or Selling Commodities:
The Portfolio may not purchase or sell physical commodities,
unless acquired as a result of ownership of securities or other
instruments (but this shall not prevent the Portfolio from
purchasing or selling options and futures contracts or from
investing in securities or other instruments backed by physical
commodities).
|
Borrowing:
The Portfolio may not borrow money, except to the extent permitted
under the 1940 Act, including the rules, regulations,
interpretations thereunder, and any exemptive relief obtained by
the Portfolio.
|
Borrowing:
The Portfolio may not borrow money, except to the extent permitted
under the 1940 Act, including the rules, regulations,
interpretations and any orders obtained thereunder.
|
Underwriting Securities:
The Portfolio may not underwrite any issue of securities within the
meaning of the under the Securities Act of 1933, as amended (the
“1933 Act”) except when it might technically be deemed to be an
underwriter either: (i) in connection with the disposition of a
portfolio security; or (ii) in connection with the purchase of
securities directly from the issuer thereof in accordance with its
investment objective. This restriction shall not limit the Portfolio’s
ability to invest in securities issued by other registered
management investment companies.
|
Underwriting Securities:
The Portfolio may not act as an underwriter of securities except to
the extent that, in connection with the disposition of securities by
the Portfolio for its portfolio, the Portfolio may be deemed to be an
underwriter under applicable law.
|
Other:
In implementing its fundamental objectives and policies, the
Portfolio will look through to the investments of the Underlying
Funds.
|
No corresponding fundamental policy
|
Average Annual Total Returns %
(for the periods ended December 31, 2023)
|
|
|
1 Year
|
5 Years
|
10 Years
|
Since
Inception
|
Inception
Date
|
|
|
|
|
|
|
|
Class I
|
%
|
16.11
|
7.78
|
5.87
|
N/A
|
07/05/95
|
Russell 3000® Index1
|
%
|
25.96
|
15.16
|
11.48
|
N/A
|
|
Class S
|
%
|
15.78
|
7.51
|
5.61
|
N/A
|
06/07/05
|
Russell 3000® Index1
|
%
|
25.96
|
15.16
|
11.48
|
N/A
|
|
Average Annual Total Returns %
(for the periods ended December 31, 2023)
|
|
|
1 Year
|
5 Years
|
10 Years
|
Since
Inception
|
Inception
Date
|
|
|
|
|
|
|
|
Class I
|
%
|
16.25
|
8.21
|
6.12
|
N/A
|
07/02/07
|
S&P Target Risk® Growth Index1
|
%
|
15.38
|
7.73
|
5.96
|
N/A
|
|
Class S
|
%
|
16.07
|
7.94
|
5.85
|
N/A
|
07/02/07
|
S&P Target Risk® Growth Index1
|
%
|
15.38
|
7.73
|
5.96
|
N/A
|
|
|
Strategic Allocation Moderate Portfolio
|
Solution Balanced Portfolio
|
Investment Adviser
|
Voya Investments, LLC
|
Same
|
Management Fee
(as a percentage of average daily net assets)
|
Direct Investments1
0.70%
Underlying Funds2
0.18%
Other Investments3
0.40%
|
Direct Investments1
0.400%
Underlying Funds2, 4
0.200%
|
Sub-Adviser
|
Voya Investment Management Co. LLC
|
Same
|
Sub-Advisory Fee
(as a percentage of average daily net assets)
|
Direct Investments1
0.27%
Underlying Funds2
0.02%
Other Investments3
0.14%
|
Direct Investments1
0.13500%
Underlying Funds2
0.04500%
|
Portfolio Managers
|
Barbara Reinhard, CFA
(since 05/18)
|
Lanyon Blair, CFA, CAIA
(since 05/23)
Barbara Reinhard, CFA
(since 09/19)
|
Distributor
|
Voya Investments Distributor, LLC
|
Same
|
Strategic Allocation Moderate Portfolio
|
Solution Balanced Portfolio
|
Special Meetings of Shareholders:
Special Meetings of shareholders may be called by the President or
by the Board; or shall be called by the President, Secretary or any
Director at the request in writing of holders of not less than 10% of
the outstanding voting shares of the capital stock of the Corporation.
|
Special Meetings of Shareholders:
Special Meetings of shareholders may be called by the President or
by the Board; and shall be called by the President, Secretary or any
Director at the request in writing of holders of the outstanding voting
shares of capital stock of the corporation entitled to cast not less
than 50% of the votes entitled to be cast at such meeting.
|
|
|
Strategic
Allocation
Moderate
Portfolio(1)
|
Solution
Balanced
Portfolio(1)
|
Pro Forma Adjustments
|
Solution
Balanced
Portfolio
Pro Forma(1)
|
Class ADV
|
|
|
|
|
|
Net Assets
|
$
|
N/A
|
9,126,142
|
-
|
9,126,142
|
Shares Outstanding
|
|
N/A
|
1,054,865
|
-
|
1,054,865
|
Net Asset Value Per Share
|
$
|
N/A
|
8.65
|
-
|
8.65
|
Class I
|
|
|
|
|
|
Net Assets
|
$
|
127,302,205
|
4,994,953
|
(32,679)(A)
|
132,264,479
|
Shares Outstanding
|
|
9,928,917
|
545,799
|
3,980,321(B)
|
14,455,037
|
Net Asset Value Per Share
|
$
|
12.82
|
9.15
|
-
|
9.15
|
Class R6
|
|
|
|
|
|
Net Assets
|
$
|
N/A
|
22,763,630
|
-
|
22,763,630
|
Shares Outstanding
|
|
N/A
|
2,486,238
|
-
|
2,486,238
|
Net Asset Value Per Share
|
$
|
N/A
|
9.16
|
-
|
9.16
|
Class S
|
|
|
|
|
|
Net Assets
|
$
|
1,251,101
|
14,646,818
|
(321)(A)
|
15,897,598
|
Shares Outstanding
|
|
98,239
|
1,662,049
|
43,734(B)
|
1,804,022
|
Net Asset Value Per Share
|
$
|
12.74
|
8.81
|
-
|
8.81
|
Class S2
|
|
|
|
|
|
Net Assets
|
$
|
N/A
|
1,142,288
|
-
|
1,142,288
|
Shares Outstanding
|
|
N/A
|
129,993
|
-
|
129,933
|
Net Asset Value Per Share
|
$
|
N/A
|
8.79
|
-
|
8.79
|
Class
|
Shares Outstanding
|
I
|
9,936,594.74
|
S
|
97,786.27
|
Total
|
10,034,381.01
|
|
|
Income (loss)
from
investment
operations
|
|
Less distributions
|
|
|
|
|
Ratios to average net assets
|
Supplemental
data
|
|||||||
|
Net asset value, beginning
of year or period |
Net investment income (loss)
|
Net realized and unrealized
gain (loss) |
Total from investment
operations |
From net investment
income |
From net realized gains
|
From return of capital
|
Total distributions
|
Payment from affiliate
|
Net asset value,
end of year or period |
Total Return(1)
|
Expenses before
reductions/additions(2)(3) |
Expenses, net of fee waivers
and/or recoupments, if any(2)(3) |
Expenses, net of all
reductions/additions(2)(3) |
Net investment income
(loss)(2)(3) |
Net assets, end of year or
period |
Portfolio turnover rate
|
Year or Period ended
|
($)
|
($)
|
($)
|
($)
|
($)
|
($)
|
($)
|
($)
|
($)
|
($)
|
(%)
|
(%)
|
(%)
|
(%)
|
(%)
|
($000's)
|
(%)
|
Voya Solution Balanced Portfolio
|
|||||||||||||||||
Class I
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
12-31-23
|
8.39
|
0.17•
|
1.15
|
1.32
|
0.37
|
0.56
|
—
|
0.93
|
—
|
8.78
|
16.25
|
0.33
|
0.33
|
0.33
|
1.95
|
4,154
|
37
|
12-31-22
|
11.98
|
0.14•
|
(2.15)
|
(2.01)
|
0.40
|
1.18
|
—
|
1.58
|
—
|
8.39
|
(17.61)
|
0.34
|
0.34
|
0.34
|
1.43
|
3,906
|
87
|
12-31-21
|
10.70
|
0.17•
|
1.34
|
1.51
|
0.23
|
—
|
—
|
0.23
|
—
|
11.98
|
14.15
|
0.36
|
0.30
|
0.30
|
1.49
|
3,831
|
50
|
12-31-20
|
10.14
|
0.18•
|
1.09
|
1.27
|
0.23
|
0.48
|
—
|
0.71
|
—
|
10.70
|
13.30
|
0.39
|
0.31
|
0.31
|
1.88
|
3,224
|
79
|
12-31-19
|
9.24
|
0.18•
|
1.59
|
1.77
|
0.26
|
0.61
|
—
|
0.87
|
—
|
10.14
|
19.75
|
0.32
|
0.25
|
0.25
|
1.78
|
2,482
|
85
|
Class S
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
12-31-23
|
8.10
|
0.14•
|
1.12
|
1.26
|
0.34
|
0.56
|
—
|
0.90
|
—
|
8.46
|
16.07
|
0.58
|
0.58
|
0.58
|
1.70
|
14,310
|
37
|
12-31-22
|
11.63
|
0.09•
|
(2.07)
|
(1.98)
|
0.37
|
1.18
|
—
|
1.55
|
—
|
8.10
|
(17.90)
|
0.59
|
0.59
|
0.59
|
1.00
|
15,078
|
87
|
12-31-21
|
10.39
|
0.13•
|
1.31
|
1.44
|
0.20
|
—
|
—
|
0.20
|
—
|
11.63
|
13.96
|
0.61
|
0.55
|
0.55
|
1.18
|
24,044
|
50
|
12-31-20
|
9.87
|
0.16
|
1.04
|
1.20
|
0.20
|
0.48
|
—
|
0.68
|
—
|
10.39
|
12.95
|
0.64
|
0.56
|
0.56
|
1.49
|
19,713
|
79
|
12-31-19
|
9.01
|
0.17•
|
1.53
|
1.70
|
0.23
|
0.61
|
—
|
0.84
|
—
|
9.87
|
19.47
|
0.57
|
0.50
|
0.50
|
1.76
|
20,388
|
85
|
Name and Address of
Shareholder
|
Percent of Class of
Shares and Type of
Ownership
|
Percentage of
Fund
|
Percentage of
Combined Fund
After the
Reorganization*
|
Voya Institutional Trust Company
1 Orange Way
Windsor, CT 06095-4773
|
37.6% Class S;
Beneficial
|
0.4%
|
3.7%
|
ReliaStar Life Insurance Co
FBO SVUL I
Attn Jill Barth Conveyer TN41
1 Orange Way
Windsor, CT 06095
|
11.1% Class I;
Beneficial
|
11.0%
|
7.0%
|
Voya ReliaStar Life Insurance Company Of New York II
One Orange Way
Windsor, CT 06095
|
7.9% Class S;
Beneficial
|
0.1%
|
0.1%
|
Venerable Insurance and Annuity Company
1475 Dunwoody Drive
West Chester, PA 19380-1478
|
54.5% Class S;
Beneficial
|
0.5%
|
0.3%
|
Voya Retirement Insurance and Annuity Company
Attn Valuation Unit-TN41
One Orange Way B3N
Windsor, CT 06095
|
81.3% Class I;
Beneficial
|
80.5%
|
50.8%
|
Voya Institutional Trust Company
1 Orange Way
Windsor, CT 06095-4773
|
37.6% Class S;
Beneficial
|
0.4%
|
3.7%
|
Name and Address of
Shareholder
|
Percent of Class of
Shares and Type of
Ownership
|
Percentage of
Fund
|
Percentage of
Combined Fund
After the
Reorganization*
|
Voya Institutional Trust Company
1 Orange Way
Windsor, CT 06095-4773
|
100% Class I;
Beneficial
|
9.3%
|
3.7%
|
Voya Retirement Insurance and Annuity Company
Attn Valuation Unit-TN41
One Orange Way B3N
Windsor, CT 06095
|
99.8% Class A;
96.7% Class R6;
100% Class S;
100% Class S2;
Beneficial
|
89.3%
|
33.0%
|