NEW YORK–(BUSINESS WIRE)–January 3, 2022–
Voya Investment Management (Voya IM), the asset management business of Voya Financial, Inc. (NYSE: VOYA), has completed the previously announced acquisition of the investment advisory business and certain other assets of the specialist of small cap growth Tygh Capital Management (TCM).
Founded in 2004 in Portland, Oregon, TCM specializes in small- and mid-cap growth investments for institutional and retail investors. The team manages the TCM Small Cap Growth Fund (Ticker: TCMSX) (“TCM Fund”) with $529 million in assets, as of December 31, 2021.
All TCM employees have joined Voya IM, including Richard Johnson (CEO and CIO), Jeff Curtis (President and CFO) and the portfolio management team of Michael Coyne, CFA; Scott Haugan, CFA; and Mitchell Brivic, CFA. TCM’s investment team will remain in Portland and is now part of the Voya, Johnson and Curtis Equity Investment Platform reporting jointly to Vincent Costa and Michael Pytosh, Co-CIO of Equity at Voya IM. The TCM team will continue to follow its proven investment philosophy and process while leveraging Voya’s distribution capabilities and robust platform. Current clients in these TCM strategies will continue to have their assets managed by the Voya IM team.
“I would like to welcome the entire TCM team to Voya,” said Christine Hurtsellers, President and CEO of Voya IM. “Their investment skills and client-focused approach will take our clients to their next level of investment success.”
The MCT Fund has filed a supplement to its prospectus stating that the board of directors of the MCT Fund has approved Voya Investment Management Co. LLC as interim advisor to the Fund effective upon closing of the transaction, pursuant to an advisory agreement as an interim investment to allow TCM’s investment team to continue to manage the Fund. The supplement also described the board’s approval of a proposed reorganization of the TCM fund, subject to shareholder approval – into Voya Small Cap Growth, a new mutual fund, expected in the second quarter of 2022.
Terms of the transaction were not disclosed and are not material to Voya’s financial condition.
About Voya Investment Management
An active and leading asset management company, Voya Investment Management manages, as of September 30, 2021, more than 230 billion dollars for affiliated and external institutions as well as individual investors. With over 40 years of experience in asset management, Voya Investment Management has the experience and resources to provide its clients with investment solutions focused on equities, fixed income, strategies and alternative and multi-asset solutions. Voya Investment Management has been named each year since 2015 as “Best Places to Work” by Pensions and investments magazine. For more information, visit voyainvestments.com. Follow Voya Investment Management on Twitter @VoyaInvestments.
The foregoing does not constitute an offer to sell or a solicitation of an offer to buy shares of any fund, nor a solicitation of a proxy. For more information regarding the merger, please call Voya Investment Management toll-free at 1-800-992-0180.
For more information regarding any of the funds mentioned in this press release, please call Voya Investment Management toll-free at 1-800-992-0180. To receive a free copy of a proxy statement/prospectus regarding the proposed merger of TCM Small Cap Growth Fund with and into Voya Small Cap Growth Fund when it becomes available, please call Voya Investment Management toll-free at 1-800 -992-0180. This press release is qualified in its entirety by reference to the proxy statement/prospectus when available. The proxy statement/prospectus contains important information about the fund’s objectives, strategies, charges, expenses and risk considerations, and you are therefore advised to read it. The proxy statement/prospectus and shareholder reports and other information are or will also be available free of charge on the SEC’s website (www.sec.gov). Please read any management information circular/prospectus carefully before making any investment decision or approving the merger.
VOYA – IM
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KEYWORD: UNITED STATES NORTH AMERICA NEW YORK
SECTOR KEYWORD: FINANCE CONSULTANCY BANKING PROFESSIONAL SERVICES HUMAN RESOURCES
SOURCE: Voya Financial, Inc.
Copyright BusinessWire 2022.
PUBLISHED: 03/01/2022 16:30/DISC: 03/01/2022 16:32
Copyright BusinessWire 2022.