The Voya Prime Rate Trust operates as a diversified, closed-end investment fund. Its primary objective is to deliver substantial current income to its investors while simultaneously safeguarding their principal investment. To achieve this, under typical market circumstances, the Trust allocates roughly 80% of its net assets—including funds acquired through borrowing for investment—into U.S. dollar-denominated, secured, senior loans with floating interest rates. The Trust retains the flexibility to invest in both subordinated and unsecured loan instruments. Additionally, up to 20% of its total assets can be deployed into unsecured floating-rate loans, promissory notes, and other forms of debt. Its portfolio spans a broad spectrum of industries, such as electronics, healthcare, non-food/drug retail, telecommunications, business services, insurance, hospitality (lodging and casinos), automotive, food production, and chemicals/plastics. Voya Investments, LLC serves as the Trust's designated investment advisor.