Voya Global Advantage Fund (IGA) authorizes buyback of up to 10% of its stock
The fund's Board of Trustees authorized an open-market share repurchase program allowing the fund to buy up to 10% of its stock over one year beginning in March 2016. The filing says repurchases will depend on management discretion and market conditions, and the program aims to buy shares trading at a discount to net asset value.
- Program allows purchases of up to 10% of the fund's stock over a one-year period beginning March 2016
- Repurchases will be made in open-market transactions on a national securities exchange at prevailing market prices
- Filing states there is no assurance shares will be bought at any particular discount levels or in any particular amounts
- Six other Voya closed-end funds announced similar programs the same day