Schedule of Composite Performance

1

For financial professional or qualified institutional investor use only. Not for inspection by, distribution or quotation to, the general public.

GIPS Presentation 1

Schedule of Composite PerformanceVoya Real Estate SMA Composite

REIT Year Net Returns (%)"Pure" Gross Returns (%)*

MSCI U.S. Real Estate Returns (%)

Composite 3-Yr St Dev (%)

Benchmark 3-Yr St Dev (%)

Dispersion of Portfolio Returns (%)

Number of Portfolios

2014 27.06 30.85 30.38 12.95 13.10 0.35 69 46 100,577 2013 (0.38) 2.65 2.47 16.55 16.49 0.07 98 25 93,084 2012 12.81 16.23 17.77 18.17 18.04 0.07 128 48 76,532 2011 6.98 10.24 8.69 NA NA 0.21 93 21 65,776 2010 24.92 28.64 28.48 NA NA 0.25 31 8 60,236 2009* 87.77 91.74 91.17 NA NA 0.00 ≤5 1 61,643

*Cumulative return for the period is from April 1, 2009 (inception of strategy) to December 31, 2009.

Notes:

Composite Definition:

Assets in this Composite ($mm)

Total Firm Assets ($mm)

Firm Definition:

Voya Investment Management claims compliance with the Global Investment Performance Standards (GIPS®) and has prepared and presented this report in compliance with the GIPS Standards. Voya Investment Management has been independently verified for the period January 1, 1996, through December 31, 2014. Verification assesses whether (1) the firm has complied with all of the composite construction requirements of the GIPS standards on a firm-wide basis and (2) the firm's policies and procedures are designed to calculate and present performance in compliance with the GIPS standards. The Voya Real Estate SMA Composite has been examined for the periods 2009-2011. The verification and performance examination reports are available upon request.

Voya Investment Management (the "Firm") is defined as all discretionary accounts managed by Voya Investment Management Co. LLC and its subsidiary Voya Investment Trust Co., but not including collateralized debt obligation structures, long/short hedge funds, structured mortgage derivative portfolios, or specialized accounts supporting the reinsurance arrangements of affiliated insurance companies. Effective May 1st, 2014, the firm changed its name from ING Investment Management to Voya Investment Management. No changes to composites nor to investment groups & processes resulted from this event.

* "Pure" Gross Returns are supplemental information only.

Benchmark Definition:

Treatment of Fees & Expenses:

Explanation of Risk Measures:

This is an actively managed SMA strategy that seeks to provide investors total return (dividends plus capital appreciation) by investing in a portfolio of equity securities of companies primarily engaged in the business of owning, operating, managing, developing, acquiring and selling commercial real estate properties. Portfolio valuations and returns for this composite are computed and stated in U.S. dollars. A $50,000 minimum has been set for inclusion in the composite. The name of this composite changed in May 2014. The composite was formerly known as the ING Real Estate Equity SMA Composite. This composite was created and incepted on April 1, 2009.

Returns are benchmarked to the MSCI U.S. Real Estate Index, which does not incur management fees, transaction costs, or other expenses associated with a composite portfolio. The MSCI US REIT Index is a free float-adjusted market capitalization index that consists of US equity securities that generate a majority of their revenue and income from real estate rental and leasing operations and are classified in the Real Estate Investment Trust (REIT) sector according to the Global Industry Classification Standard (GICS). Securities prices used to value the benchmark index for the purposes of calculating total return may or may not differ significantly from those used to value securities held within composite portfolios.

"Pure" Gross Returns are presented before the deduction of transaction costs, fees or expenses and should be used as supplemental information only. Prior to January 2007, net-of-fee returns presented reflect the deduction of actual fees paid by each account in the composite. After January 2007, net-of-fees returns presented are calculated by subtracting a hypothetical maximum total wrap fee (estimated at 3.00% per annum) from the monthly “pure” gross-of-fees returns. The total wrap fee includes transaction costs, portfolio management, investment advisory, custodial and other administrative costs. Wrap fees vary amongst brokerage firms and may be negotiated based on account size and other factors. The hypothetical maximum total wrap fee used is deemed to be the maximum fee charged to any composite account. More information about fees can be found in the Form ADV Part II of Voya Investment Management Co. LLC.

”Dispersion of Portfolio Returns" presented for each annual period is calculated using the asset-weighted standard deviation of the annual returns of all portfolios that were included in the composite for the entire year. In July 2014, the 2013 Dispersion of Portfolio Returns was corrected from 0.23 to 0.07. "Composite 3-Yr St Dev" and "Benchmark 3-Yr St Dev" are rolling 3-year standard deviation calculations, which measure the variability of the monthly performance returns for the composite and benchmark index return over the preceding 36-month period on an annualized basis. If the composite has not been in existence for at least 3 years as of a particular year-end, then “NA” will be displayed.

Policies for valuing portfolios, calculating performance, and preparing compliant presentations, as well as a complete list of composite descriptions, are available upon request. Past performance is no guarantee of future results.Other Notes:

2

For financial professional or qualified institutional investor use only. Not for inspection by, distribution or quotation to, the general public.

GIPS Presentation 2

Schedule of Composite PerformanceVoya Concentrated Intermediate Fixed Income SMA Composite

CINF Year Net Returns (%)"Pure" Gross Returns (%)*

Barclays Intermediate U.S. Government/Credit Returns (%)

Composite 3-Yr St Dev (%)

Benchmark 3-Yr St Dev (%)

Dispersion of Portfolio Returns (%)

Number of Portfolios

2014 1.08 3.11 3.13 2.08 1.94 0.07 59 25 100,577 2013 (2.54) (0.54) (0.86) 2.26 2.11 0.07 72 32 93,084 2012 2.62 4.71 3.89 2.26 2.16 0.08 125 50 76,532 2011 2.95 5.08 5.80 2.83 2.55 0.06 198 92 65,776 2010 3.71 5.85 5.89 4.14 3.91 0.18 228 105 60,236 2009 1.99 4.08 5.24 4.17 3.82 0.10 231 113 61,643 2008 7.77 9.96 5.08 NA NA 0.28 209 105 56,044 2007 6.41 8.58 7.39 NA NA 0.08 178 70 74,322 2006* 2.93 3.78 4.10 NA NA NA 205 120 66,276

*Cumulative return for the period is from February 1, 2006 (inception of strategy) to December 31, 2006.

Notes:

Composite Definition:

Assets in this Composite ($mm)

Total Firm Assets ($mm)

Firm Definition:

Voya Investment Management claims compliance with the Global Investment Performance Standards (GIPS®) and has prepared and presented this report in compliance with the GIPS Standards. Voya Investment Management has been independently verified for the period January 1, 1996, through December 31, 2014. The verification report is available upon request. Verification assesses whether (1) the firm has complied with all of the composite construction requirements of the GIPS standards on a firm-wide basis and (2) the firm's policies and procedures are designed to calculate and present performance in compliance with the GIPS standards. Verification does not ensure the accuracy of any specific composite presentation.

Voya Investment Management (the "Firm") is defined as all discretionary accounts managed by Voya Investment Management Co. LLC and its subsidiary Voya Investment Trust Co., but not including collateralized debt obligation structures, long/short hedge funds, structured mortgage derivative portfolios, or specialized accounts supporting the reinsurance arrangements of affiliated insurance companies. Effective May 1st, 2014, the firm changed its name from ING Investment Management to Voya Investment Management. No changes to composites nor to investment groups & processes resulted from this event.

* "Pure" Gross Returns are supplemental information only.

Benchmark Definition:

Treatment of Fees & Expenses:

Explanation of Risk Measures:

This is a fixed income SMA strategy that seeks to provide total return while preserving capital, largely through the use of treasuries, non-securitized agencies, and corporate credit securities of 1-10 year maturities. Portfolio valuations and returns for this composite are computed and stated in U.S. dollars. In December 2012, there was a change in personnel within the portfolio management team for this composite. However, the change had no substantial impact on the investment objective of the strategy. A $100,000 minimum has been set for inclusion in the composite. The name of this composite changed in May 2014. The composite was formerly known as the ING Concentrated Intermediate Fixed Income SMA Composite. This composite was created and incepted on February 1, 2006.

Returns are benchmarked to the Barclays Intermediate U.S. Government/Credit Index, which does not incur management fees, transaction costs, or other expenses associated with a composite portfolio. The Barclays U.S. Intermediate Government/Credit Index includes fixed rate, dollar-denominated, investment grade securities with maturities of 1-10 years held within both the Barclays U.S. Government Index (public obligations of the U.S. Treasury, U.S. Government agencies, quasi-federal corporations, and corporate or foreign debt guaranteed by the U.S. Government) and the Barclays U.S. Credit Index (publicly issued U.S. corporate and foreign debentures and secured notes). Securities prices used to value the benchmark index for the purposes of calculating total return may or may not differ significantly from those used to value securities held within composite portfolios.

"Pure" Gross Returns are presented before the deduction of transaction costs, fees or expenses and should be used as supplemental information only. Prior to January 2007, net-of-fee returns presented reflect the deduction of actual fees paid by each account in the composite. After January 2007, net-of-fees returns presented are calculated by subtracting a hypothetical maximum total wrap fee (estimated at 2.00% per annum) from the monthly “pure” gross-of-fees returns. The total wrap fee includes transaction costs, portfolio management, investment advisory, custodial and other administrative costs. Wrap fees vary amongst brokerage firms and may be negotiated based on account size and other factors. The hypothetical maximum total wrap fee used is deemed to be the maximum fee charged to any composite account. More information about fees can be found in the Form ADV Part II of Voya Investment Management Co. LLC.

”Dispersion of Portfolio Returns" presented for each annual period is calculated using the asset-weighted standard deviation of the annual returns of all portfolios that were included in the composite for the entire year. In July 2014, the 2013 Dispersion of Portfolio Returns was corrected from 0.18 to 0.07. "Composite 3-Yr St Dev" and "Benchmark 3-Yr St Dev" are rolling 3-year standard deviation calculations, which measure the variability of the monthly performance returns for the composite and benchmark index return over the preceding 36-month period on an annualized basis. If the composite has not been in existence for at least 3 years as of a particular year-end, then “NA” will be displayed.

Policies for valuing portfolios, calculating performance, and preparing compliant presentations, as well as a complete list of composite descriptions, are available upon request. Past performance is no guarantee of future results.Other Notes:

3

For financial professional or qualified institutional investor use only. Not for inspection by, distribution or quotation to, the general public.

GIPS Presentation 3

Schedule of Composite PerformanceVoya Intermediate Fixed Income SMA Composite

INF Year Net Returns (%)"Pure" Gross Returns (%)*

Barclays Intermediate U.S. Government/Credit Returns (%)

Composite 3-Yr St Dev (%)

Benchmark 3-Yr St Dev (%)

Dispersion of Portfolio Returns (%)

Number of Portfolios

2014 1.00 3.04 3.13 2.09 1.94 0.06 957 472 100,577 2013 (2.48) (0.48) (0.86) 2.27 2.11 0.06 1,034 532 93,084 2012 2.35 4.44 3.89 2.33 2.16 0.11 1,479 844 76,532 2011 3.10 5.22 5.80 2.67 2.55 0.12 1,726 960 65,776 2010 3.48 5.61 5.89 3.94 3.91 0.14 1,668 948 60,236 2009 2.63 4.74 5.24 3.89 3.82 0.12 1,722 849 61,643 2008 3.44 5.56 5.08 3.68 3.64 0.23 1,546 772 56,044 2007 6.09 8.23 7.39 2.45 2.35 0.09 1,427 658 74,322 2006 3.08 3.99 4.08 2.69 2.75 0.08 1,561 638 66,276 2005 1.19 2.07 1.58 3.61 3.64 0.27 1,792 722 58,983

Notes:

"Pure" Gross Returns are presented before the deduction of transaction costs, fees or expenses and should be used as supplemental information only. Prior to January 2007, net-of-fee returns presented reflect the deduction of actual fees paid by each account in the composite. After January 2007, net-of-fees returns presented are calculated by subtracting a hypothetical maximum total wrap fee (estimated at 2.00% per annum) from the monthly “pure” gross-of-fees returns. The total wrap fee includes transaction costs, portfolio management, investment advisory, custodial and other administrative costs. Wrap fees vary amongst brokerage firms and may be negotiated based on account size and other factors. The hypothetical maximum total wrap fee used is deemed to be the maximum fee charged to any composite account. More information about fees can be found in the Form ADV Part II of Voya Investment Management Co. LLC.

Treatment of Fees & Expenses:

Voya Investment Management claims compliance with the Global Investment Performance Standards (GIPS®) and has prepared and presented this report in compliance with the GIPS Standards. Voya Investment Management has been independently verified for the period January 1, 1996, through December 31, 2014. Verification assesses whether (1) the firm has complied with all of the composite construction requirements of the GIPS standards on a firm-wide basis and (2) the firm's policies and procedures are designed to calculate and present performance in compliance with the GIPS standards. The Voya Intermediate Fixed Income SMA Composite has been examined for the periods 2002-2014. The verification and performance examination reports are available upon request.

Voya Investment Management (the "Firm") is defined as all discretionary accounts managed by Voya Investment Management Co. LLC and its subsidiary Voya Investment Trust Co., but not including collateralized debt obligation structures, long/short hedge funds, structured mortgage derivative portfolios, or specialized accounts supporting the reinsurance arrangements of affiliated insurance companies. Effective May 1st, 2014, the firm changed its name from ING Investment Management to Voya Investment Management. No changes to composites nor to investment groups & processes resulted from this event.

This is a fixed income SMA strategy that seeks to provide total return while preserving capital, largely through the use of treasuries, agencies, and corporate credit securities of 1-10 year maturities. Portfolio valuations and returns for this composite are computed and stated in U.S. dollars. In December 2012, there was a change in personnel within the portfolio management team for this composite. However, the change had no substantial impact on the investment objective of the strategy. A $100,000 minimum has been set for inclusion in the composite. The name of this composite changed in May 2014. The composite was formerly known as the ING Intermediate Fixed Income SMA Composite. This composite incepted on January 1, 1993 and was created in September 2003.

Returns are benchmarked to the Barclays Intermediate U.S. Government/Credit Index, which does not incur management fees, transaction costs, or other expenses associated with a composite portfolio. The Barclays U.S. Intermediate Government/Credit Index includes fixed rate, dollar-denominated, investment grade securities with maturities of 1-10 years held within both the Barclays U.S. Government Index (public obligations of the U.S. Treasury, U.S. Government agencies, quasi-federal corporations, and corporate or foreign debt guaranteed by the U.S. Government) and the Barclays U.S. Credit Index (publicly issued U.S. corporate and foreign debentures and secured notes). Securities prices used to value the benchmark index for the purposes of calculating total return may or may not differ significantly from those used to value securities held within composite portfolios.

Assets in this Composite ($mm)

Total Firm Assets ($mm)

Firm Definition:

Composite Definition:

Benchmark Definition:

Explanation of Risk Measures:

Other Notes:

* "Pure" Gross Returns are supplemental information only.

”Dispersion of Portfolio Returns" presented for each annual period is calculated using the asset-weighted standard deviation of the annual returns of all portfolios that were included in the composite for the entire year. In July 2014, the 2013 Dispersion of Portfolio Returns was corrected from 0.16 to 0.06. "Composite 3-Yr St Dev" and "Benchmark 3-Yr St Dev" are rolling 3-year standard deviation calculations, which measure the variability of the monthly performance returns for the composite and benchmark index return over the preceding 36-month period on an annualized basis. If the composite has not been in existence for at least 3 years as of a particular year-end, then “NA” will be displayed.

Policies for valuing portfolios, calculating performance, and preparing compliant presentations, as well as a complete list of composite descriptions, are available upon request. Past performance is no guarantee of future results.

4

For financial professional or qualified institutional investor use only. Not for inspection by, distribution or quotation to, the general public.

GIPS Presentation 4

Schedule of Composite PerformanceVoya High Yield SMA Composite

HYLD Year Net Returns (%)"Pure" Gross Returns (%)*

Custom Benchmark Returns (%)

Composite 3-Yr St Dev (%)

Benchmark 3-Yr St Dev (%)

Dispersion of Portfolio Returns (%)

Number of Portfolios

2014 1.14 3.18 2.51 4.06 4.44 0.19 98 44 100,577 2013 2.68 4.78 7.40 5.23 6.42 0.17 84 59 93,084 2012 8.00 10.21 15.55 5.40 7.02 0.31 95 62 76,532 2011 5.00 7.14 4.37 6.12 10.96 0.18 74 46 65,776 2010 8.28 10.47 15.07 10.36 16.79 0.33 51 31 60,236 2009 15.04 17.39 58.10 10.19 16.66 0.51 30 20 61,643 2008 (11.41) (9.56) (26.11) 9.56 13.15 1.02 15 11 56,044 2007 0.90 2.97 2.53 4.19 4.53 0.77 20 14 74,322 2006 9.52 10.55 10.76 3.81 3.94 1.29 25 15 66,276 2005 (0.42) 0.77 2.70 NA NA 1.02 25 16 58,983

Notes:

"Pure" Gross Returns are presented before the deduction of transaction costs, fees or expenses and should be used as supplemental information only. Prior to January 2007, net-of-fee returns presented reflect the deduction of actual fees paid by each account in the composite. After January 2007, net-of-fees returns presented are calculated by subtracting a hypothetical maximum total wrap fee (estimated at 2.00% per annum) from the monthly “pure” gross-of-fees returns. The total wrap fee includes transaction costs, portfolio management, investment advisory, custodial and other administrative costs. Wrap fees vary amongst brokerage firms and may be negotiated based on account size and other factors. The hypothetical maximum total wrap fee used is deemed to be the maximum fee charged to any composite account. More information about fees can be found in the Form ADV Part II of Voya Investment Management Co. LLC.

Treatment of Fees & Expenses:

Voya Investment Management claims compliance with the Global Investment Performance Standards (GIPS®) and has prepared and presented this report in compliance with the GIPS Standards. Voya Investment Management has been independently verified for the period January 1, 1996, through December 31, 2014. Verification assesses whether (1) the firm has complied with all of the composite construction requirements of the GIPS standards on a firm-wide basis and (2) the firm's policies and procedures are designed to calculate and present performance in compliance with the GIPS standards. The Voya High Yield SMA Composite has been examined for the periods 2004-2014. The verification and performance examination reports are available upon request.

Voya Investment Management (the "Firm") is defined as all discretionary accounts managed by Voya Investment Management Co. LLC and its subsidiary Voya Investment Trust Co., but not including collateralized debt obligation structures, long/short hedge funds, structured mortgage derivative portfolios, or specialized accounts supporting the reinsurance arrangements of affiliated insurance companies. Effective May 1st, 2014, the firm changed its name from ING Investment Management to Voya Investment Management. No changes to composites nor to investment groups & processes resulted from this event.

This is a fixed income SMA strategy that invests in below-investment grade debt securities across multiple sectors and industries in order to maximize total return through income and capital appreciation. Portfolio valuations and returns for this composite are computed and stated in U.S. dollars. Effective April 1, 2009, a $200,000 minimum has been set for inclusion in the composite, and prior to that, the asset minimum was $500,000. Prior to December 2012, the portfolio management team for this strategy was Rogge Global Partners, which was appointed to sub-advise the assets managed by the team. In December 2012, the portfolio management was transitioned back to ING. During the transition, there was a change in personnel within the portfolio management team for this composite. However, the change had no substantial impact on the investment objective of the strategy. The name of this composite changed in May 2014. The composite was formerly known as the ING High Yield Fixed Income SMA Composite. This composite was created and incepted on July 1, 2003.

Returns are benchmarked to the Bank of American Merrill Lynch U.S. High Yield Master II Constrained Index, which does not incur management fees, transaction costs, or other expenses associated with a composite portfolio. The Bank of America Merrill Lynch High Yield Master II Index is a market value-weighted index consisting of U.S. dollar-denominated, non-investment grade bonds not currently in default and limits any individual issuer to a maximum of 2% benchmark exposure. Securities prices used to value the benchmark index for the purposes of calculating total return may or may not differ significantly from those used to value securities held within composite portfolios. In December 2006, the benchmark was changed from the Citigroup High Yield Cash Pay Index to the Bank of America Merrill Lynch US High Yield Master II Constrained Index effective from June 1, 2005 to the present. The reason for the change was due to a fundamental change in the composition of the Citigroup index that made it un-representative of the strategy’s investment process.

Assets in this Composite ($mm)

Total Firm Assets ($mm)

Firm Definition:

Composite Definition:

Benchmark Definition:

Explanation of Risk Measures:

Other Notes:

* "Pure" Gross Returns are supplemental information only.

”Dispersion of Portfolio Returns" presented for each annual period is calculated using the asset-weighted standard deviation of the annual returns of all portfolios that were included in the composite for the entire year. In July 2014, the 2013 Dispersion of Portfolio Returns was corrected from 0.65 to 0.17. "Composite 3-Yr St Dev" and "Benchmark 3-Yr St Dev" are rolling 3-year standard deviation calculations, which measure the variability of the monthly performance returns for the composite and benchmark index return over the preceding 36-month period on an annualized basis. If the composite has not been in existence for at least 3 years as of a particular year-end, then “NA” will be displayed.

Policies for valuing portfolios, calculating performance, and preparing compliant presentations, as well as a complete list of composite descriptions, are available upon request. Past performance is no guarantee of future results.

5

For financial professional or qualified institutional investor use only. Not for inspection by, distribution or quotation to, the general public.

GIPS Presentation 5

Schedule of Composite PerformanceVoya Short Term Bond SMA Composite

WSTF Year Net Returns (%)"Pure" Gross Returns (%)*

Custom Benchmark Returns (%)

Composite 3-Yr St Dev (%)

Benchmark 3-Yr St Dev (%)

Dispersion of Portfolio Returns (%)

Number of Portfolios

2014 (1.25) 0.75 0.72 0.94 0.46 0.00 ≤5 10 100,577 2013 (1.19) 0.85 0.56 1.10 0.51 0.00 ≤5 10 93,084 2012 1.10 3.18 0.52 1.27 0.73 0.00 ≤5 11 76,532 2011 0.69 2.76 1.55 1.41 1.02 0.00 ≤5 5 65,776 2010 0.84 2.92 2.35 1.99 1.74 0.00 ≤5 5 60,236 2009 (1.52) 0.51 0.78 1.98 1.93 0.43 ≤5 3 61,643 2008 4.17 6.30 6.61 1.66 1.69 0.23 ≤5 25 56,044 2007 4.77 6.95 7.34 1.17 1.35 0.08 ≤5 16 74,322 2006 3.27 4.06 3.96 NA NA 0.01 ≤5 17 66,276 2005 1.10 1.91 1.67 NA NA 0.05 7 11 58,983

*Cumulative return for the period is from April 1, 2004 (inception of strategy) to December 31, 2004.

Notes:

This is a fixed income SMA strategy that seeks to provide total return while preserving capital, largely through the use of treasuries, agencies, and corporate credit securities of generally 1-3 year maturities. Portfolio valuations and returns for this composite are computed and stated in U.S. dollars. In December 2012, there was a change in personnel within the portfolio management team for this composite. However, the change had no substantial impact on the investment objective of the strategy. A $250,000 minimum has been set for inclusion in the composite. The name of this composite changed in May 2014. The composite was formerly known as the ING Short Term Bond Fixed Income SMA Composite. This composite incepted on April 1, 2004 and was created in July 2004.

Returns are benchmarked to a customized index, which does not incur management fees, transaction costs, or other expenses associated with a composite portfolio. The customized benchmark is reflective of the Merrill Lynch 1-3 Year U.S. Treasury Index from the inception of the composite to September 2012 and the Barclays 1-3 Year Government/Credit Index from October 2012 to April 2013, geometrically linked with Barclays 1-3 Year Government/Credit A or better Index from May 2013 to present. The change was made consistent with the investment strategy of the composite.

Composite Definition:

Assets in this Composite ($mm)

Total Firm Assets ($mm)

Firm Definition:

Voya Investment Management claims compliance with the Global Investment Performance Standards (GIPS®) and has prepared and presented this report in compliance with the GIPS Standards. Voya Investment Management has been independently verified for the period January 1, 1996, through December 31, 2014. The verification report is available upon request. Verification assesses whether (1) the firm has complied with all of the composite construction requirements of the GIPS standards on a firm-wide basis and (2) the firm's policies and procedures are designed to calculate and present performance in compliance with the GIPS standards. Verification does not ensure the accuracy of any specific composite presentation.

Voya Investment Management (the "Firm") is defined as all discretionary accounts managed by Voya Investment Management Co. LLC and its subsidiary Voya Investment Trust Co., but not including collateralized debt obligation structures, long/short hedge funds, structured mortgage derivative portfolios, or specialized accounts supporting the reinsurance arrangements of affiliated insurance companies. Effective May 1st, 2014, the firm changed its name from ING Investment Management to Voya Investment Management. No changes to composites nor to investment groups & processes resulted from this event.

Policies for valuing portfolios, calculating performance, and preparing compliant presentations, as well as a complete list of composite descriptions, are available upon request. Past performance is no guarantee of future results.* "Pure" Gross Returns are supplemental information only.

Benchmark Definition:

Treatment of Fees & Expenses:

Explanation of Risk Measures:

The Merrill Lynch 1-3 Year U.S. Treasury Index is an unmanaged index comprised of U.S. Treasury securities, other than inflation-protection securities and STRIPS, with at least $1 billion in outstanding face value and a remaining term to final maturity of at least one year and less than three years.

The Barclays 1-3 Year Government/Credit A or Better Index includes fixed rate, dollar-denominated, investment grade securities with maturities of 1-3 years held within both the Barclays U.S. Government Index (public obligations of the U.S. Treasury, U.S. Government agencies, quasi-federal corporations, and corporate or foreign debt guaranteed by the U.S. Government) and the Barclays U.S. Credit Index A or better (publicly issued U.S. corporate and foreign debentures and secured notes). The Barclays 1-3 Year Government/Credit Index includes fixed rate, dollar-denominated, investment grade securities with maturities of 1-3 years held within both the Barclays U.S. Government Index (public obligations of the U.S. Treasury, U.S. Government agencies, quasi-federal corporations, and corporate or foreign debt guaranteed by the U.S. Government) and the Barclays U.S. Credit Index (publicly issued U.S. corporate and foreign debentures and secured notes).

Securities prices used to value the benchmark index for the purposes of calculating total return may or may not differ significantly from those used to value securities held within composite portfolios.

"Pure" Gross Returns are presented before the deduction of transaction costs, fees or expenses and should be used as supplemental information only. Prior to January 2007, net-of-fee returns presented reflect the deduction of actual fees paid by each account in the composite. After January 2007, net-of-fees returns presented are calculated by subtracting a hypothetical maximum total wrap fee (estimated at 2.00% per annum) from the monthly “pure” gross-of-fees returns. The total wrap fee includes transaction costs, portfolio management, investment advisory, custodial and other administrative costs. Wrap fees vary amongst brokerage firms and may be negotiated based on account size and other factors. The hypothetical maximum total wrap fee used is deemed to be the maximum fee charged to any composite account. More information about fees can be found in the Form ADV Part II of Voya Investment Management Co. LLC.

”Dispersion of Portfolio Returns" presented for each annual period is calculated using the asset-weighted standard deviation of the annual returns of all portfolios that were included in the composite for the entire year. "Composite 3-Yr St Dev" and "Benchmark 3-Yr St Dev" are rolling 3-year standard deviation calculations, which measure the variability of the monthly performance returns for the composite and benchmark index return over the preceding 36-month period on an annualized basis. If the composite has not been in existence for at least 3 years as of a particular year-end, then “NA” will be displayed.

Other Notes:

6

For financial professional or qualified institutional investor use only. Not for inspection by, distribution or quotation to, the general public.

GIPS Presentation 6

Schedule of Composite PerformanceVoya Strategic Fixed Income SMA Composite

ENF Year Net Returns (%)"Pure" Gross Returns (%)*

Custom Benchmark Returns (%)

Composite 3-Yr St Dev (%)

Benchmark 3-Yr St Dev (%)

Dispersion of Portfolio Returns (%)

Number of Portfolios

2014 1.24 3.28 2.89 2.90 2.64 0.07 152 126 100,577 2013 (0.15) 1.90 2.39 3.35 3.19 0.28 156 120 93,084 2012 5.33 7.48 8.43 3.31 3.21 0.26 182 144 76,532 2011 4.19 6.32 5.33 3.47 4.81 0.19 172 167 65,776 2010 6.03 8.21 9.54 4.83 7.61 0.17 175 149 60,236 2009 7.00 9.22 24.25 4.57 7.51 0.38 172 147 61,643 2008 0.58 2.64 (8.14) 4.32 6.20 0.98 137 109 56,044 2007 4.30 6.43 5.50 2.42 2.38 0.58 145 117 74,322 2006 5.97 6.86 6.71 2.66 2.66 0.58 175 110 66,276 2005 0.35 1.28 2.06 3.26 3.70 0.69 274 157 58,983

Notes:

Explanation of Risk Measures:

Other Notes:

* "Pure" Gross Returns are supplemental information only.

”Dispersion of Portfolio Returns" presented for each annual period is calculated using the asset-weighted standard deviation of the annual returns of all portfolios that were included in the composite for the entire year. In July 2014, the 2013 Dispersion of Portfolio Returns was corrected from 0.55 to 0.28. "Composite 3-Yr St Dev" and "Benchmark 3-Yr St Dev" are rolling 3-year standard deviation calculations, which measure the variability of the monthly performance returns for the composite and benchmark index return over the preceding 36-month period on an annualized basis. If the composite has not been in existence for at least 3 years as of a particular year-end, then “NA” will be displayed.

Policies for valuing portfolios, calculating performance, and preparing compliant presentations, as well as a complete list of composite descriptions, are available upon request. Past performance is no guarantee of future results.

Assets in this Composite ($mm)

Total Firm Assets ($mm)

Firm Definition:

Composite Definition:

Benchmark Definition:

"Pure" Gross Returns are presented before the deduction of transaction costs, fees or expenses and should be used as supplemental information only. Prior to January 2007, net-of-fee returns presented reflect the deduction of actual fees paid by each account in the composite. After January 2007, net-of-fees returns presented are calculated by subtracting a hypothetical maximum total wrap fee (estimated at 2.00% per annum) from the monthly “pure” gross-of-fees returns. The total wrap fee includes transaction costs, portfolio management, investment advisory, custodial and other administrative costs. Wrap fees vary amongst brokerage firms and may be negotiated based on account size and other factors. The hypothetical maximum total wrap fee used is deemed to be the maximum fee charged to any composite account. More information about fees can be found in the Form ADV Part II of Voya Investment Management Co. LLC.

Treatment of Fees & Expenses:

Voya Investment Management claims compliance with the Global Investment Performance Standards (GIPS®) and has prepared and presented this report in compliance with the GIPS Standards. Voya Investment Management has been independently verified for the period January 1, 1996, through December 31, 2014. Verification assesses whether (1) the firm has complied with all of the composite construction requirements of the GIPS standards on a firm-wide basis and (2) the firm's policies and procedures are designed to calculate and present performance in compliance with the GIPS standards. The Voya Strategic Fixed Income SMA Composite has been examined for the periods 2002-2014. The verification and performance examination reports are available upon request.

Voya Investment Management (the "Firm") is defined as all discretionary accounts managed by Voya Investment Management Co. LLC and its subsidiary Voya Investment Trust Co., but not including collateralized debt obligation structures, long/short hedge funds, structured mortgage derivative portfolios, or specialized accounts supporting the reinsurance arrangements of affiliated insurance companies. Effective May 1st, 2014, the firm changed its name from ING Investment Management to Voya Investment Management. No changes to composites nor to investment groups & processes resulted from this event.

This is a fixed income SMA strategy that seeks to generate higher income than pure investment grade bonds by adding selective high yield bond exposure while preserving principal. Portfolio valuations and returns for this composite are computed and stated in U.S. dollars. There were several changes to the named portfolio manager of the investment strategy (represented by the composite) throughout its existence, but none of those changes had a substantial impact on the investment objective of the strategy. Prior to December of 2012, the portfolio management team for the high yield portion of this strategy was Rogge Global Partners, which was appointed to sub-advise the assets managed by the team. A $250,000 minimum has been set for inclusion in the composite. The name of this composite changed in May 2014. The composite was formerly known as the ING Strategic Fixed Income SMA Composite. This composite incepted on July 1, 2001 and was created in July 2003.

Returns are benchmarked to a customized blend of 60% Barclays Intermediate Gov/Credit Index & 40% Merrill Lynch US High Yield Master II Constrained Index, rebalanced on a monthly basis, which does not incur management fees, transaction costs, or other expenses associated with a composite portfolio. Securities prices used to value the benchmark index for the purposes of calculating total return may or may not differ significantly from those used to value securities held within composite portfolios. In December 2006, the High Yield portion of the custom-weighted benchmark was changed from the Citigroup High Yield Cash Pay Index to the Bank of America Merrill Lynch US High Yield Master II Constrained Index, effective from June 1, 2005 to the present. The reason for the change was due to a fundamental change in the composition of the Citigroup index that made it unrepresentative of the strategy’s investment process.

7

For financial professional or qualified institutional investor use only. Not for inspection by, distribution or quotation to, the general public.

GIPS Presentation 7

Schedule of Composite PerformanceVoya SPorts Core Fixed Income SMA Composite

SCFX Year Net Returns (%)"Pure" Gross Returns (%)*

Merrill Lynch U.S. Corporate Government 1-10 Year Returns (%)

Composite 3-Yr St Dev (%)

Benchmark 3-Yr St Dev (%)

Dispersion of Portfolio Returns (%)

Number of Portfolios

2014 0.84 2.87 3.34 1.98 2.06 0.03 39 8 100,577 2013 (2.03) (0.01) (1.03) 2.27 2.20 0.03 47 9 93,084 2012 2.51 4.63 4.24 2.32 2.17 0.04 73 15 76,532 2011 3.65 5.80 5.88 2.71 2.60 0.07 56 13 65,776 2010 3.48 5.59 6.03 4.03 3.97 0.08 24 4 60,236 2009 4.15 6.30 5.71 NA NA 0.07 20 4 61,643 2008 3.40 5.52 4.11 NA NA 0.00 15 2 56,044 2007* 4.02 4.88 4.79 NA NA NA ≤5 1 74,322

*Cumulative return for the period is from August 1, 2007 (inception of strategy) to December 31, 2007.

Notes:

"Pure" Gross Returns are presented before the deduction of transaction costs, fees or expenses and should be used as supplemental information only. Prior to January 2007, net-of-fee returns presented reflect the deduction of actual fees paid by each account in the composite. After January 2007, net-of-fees returns presented are calculated by subtracting a hypothetical maximum total wrap fee (estimated at 2.00% per annum) from the monthly “pure” gross-of-fees returns. The total wrap fee includes transaction costs, portfolio management, investment advisory, custodial and other administrative costs. Wrap fees vary amongst brokerage firms and may be negotiated based on account size and other factors. The hypothetical maximum total wrap fee used is deemed to be the maximum fee charged to any composite account. More information about fees can be found in the Form ADV Part II of Voya Investment Management Co. LLC.

Treatment of Fees & Expenses:

Voya Investment Management claims compliance with the Global Investment Performance Standards (GIPS®) and has prepared and presented this report in compliance with the GIPS Standards. Voya Investment Management has been independently verified for the period January 1, 1996, through December 31, 2014. Verification assesses whether (1) the firm has complied with all of the composite construction requirements of the GIPS standards on a firm-wide basis and (2) the firm's policies and procedures are designed to calculate and present performance in compliance with the GIPS standards. The Voya SPorts Core Fixed Income SMA Composite has been examined for the periods 2007-2009. The verification and performance examination reports are available upon request.

Voya Investment Management (the "Firm") is defined as all discretionary accounts managed by Voya Investment Management Co. LLC and its subsidiary Voya Investment Trust Co., but not including collateralized debt obligation structures, long/short hedge funds, structured mortgage derivative portfolios, or specialized accounts supporting the reinsurance arrangements of affiliated insurance companies. Effective May 1st, 2014, the firm changed its name from ING Investment Management to Voya Investment Management. No changes to composites nor to investment groups & processes resulted from this event.

This is a fixed income SMA strategy that combines individual securities with an embedded pooled investment vehicle in order to model our institutional investment model. Portfolio valuations and returns for this composite are computed and stated in U.S. dollars. In December 2012, there was a change in personnel within the portfolio management team for this composite. However, the change had no substantial impact on the investment objective of the strategy. A $100,000 minimum has been set for inclusion in the composite. The name of this composite changed in May 2014. The composite was formerly known as the ING SPorts Core Fixed Income SMA Composite. This composite was created and incepted on August 1, 2007.

Returns are benchmarked to the Bank of America Merrill Lynch U.S. Corporate Government 1-10 Year Index, which does not incur management fees, transaction costs, or other expenses associated with a composite portfolio. The Bank of America Merrill Lynch 1-3 Year U.S. Treasury Index is an unmanaged index comprised of U.S. Treasury securities, other than inflation-protection securities and STRIPS, with at least $1 billion in outstanding face value and a remaining term to final maturity of at least one year and less than three years. It is not possible to invest directly in an unmanaged indexSecurities prices used to value the benchmark index for the purposes of calculating total return may or may not differ significantly from those used to value securities held within composite portfolios.

Assets in this Composite ($mm)

Total Firm Assets ($mm)

Firm Definition:

Composite Definition:

Benchmark Definition:

Explanation of Risk Measures:

Other Notes:

* "Pure" Gross Returns are supplemental information only.

”Dispersion of Portfolio Returns" presented for each annual period is calculated using the asset-weighted standard deviation of the annual returns of all portfolios that were included in the composite for the entire year. In July 2014, the 2013 Dispersion of Portfolio Returns was corrected from 0.13 to 0.03. "Composite 3-Yr St Dev" and "Benchmark 3-Yr St Dev" are rolling 3-year standard deviation calculations, which measure the variability of the monthly performance returns for the composite and benchmark index return over the preceding 36-month period on an annualized basis. If the composite has not been in existence for at least 3 years as of a particular year-end, then “NA” will be displayed.

Policies for valuing portfolios, calculating performance, and preparing compliant presentations, as well as a complete list of composite descriptions, are available upon request. Past performance is no guarantee of future results.