Voya Balanced Portfolio, Inc.
Voya Intermediate Bond Portfolio
Voya Money Market Portfolio
Voya Variable Funds
Voya Variable Portfolios, Inc.
(“Registrants”)
To each series of the Registrants (each a “Portfolio” and collectively the “Portfolios”)
Supplement dated June 5, 2015
To each Portfolio’s Current Prospectus and Statement of Additional Information
and
To the Current Summary Prospectuses for Voya Australia Index Portfolio
Voya Emerging Markets Index Portfolio, Voya Russell™ Mid Cap Growth Index Portfolio and
Voya Small Company Portfolio
| 1. | On May 21, 2015, the Portfolios’ Board of Directors approved a proposal to liquidate and dissolve Class ADV shares of Voya Australia Index Portfolio, Voya Emerging Markets Index Portfolio, and Voya Russell™ Mid Cap Growth Index Portfolio; and Class S2 shares of Voya Emerging Markets Index Portfolio and Voya Small Company Portfolio, effective on or about May 29, 2015. Class ADV shares for Voya Australia Index Portfolio, Voya Emerging Markets Index Portfolio, and Voya Russell™ Mid Cap Growth Index Portfolio; and Class S2 shares for Voya Emerging Markets Index Portfolio and Voya Small Company Portfolio were closed to new investment on or about May 29, 2015. |
| 2. | The fourth paragraph in the section of each Prospectus entitled “Management of the Portfolios – Management Fees” is hereby deleted and replaced with the following: |
At a meeting held on March 12, 2015, the Board approved amending and restating the Portfolios’ Investment Management Agreement so that, effective May 1, 2015, the terms of each Portfolio’s Investment Management Agreement and its Administration Agreement are combined under a single Amended and Restated Investment Management Agreement with a single management fee. The single management fee rate under each Portfolio’s Amended and Restated Investment Management Agreement does not exceed the former combined investment management and administrative services fee rates for each Portfolio and, under each Portfolio’s Amended and Restated Investment Management Agreement, there was no change to the investment management or administrative services provided or the fees charged to each Portfolio.
PLEASE RETAIN THIS SUPPLEMENT FOR FUTURE REFERENCE