0000895430 2013-03-01 2014-02-28 0000895430 vmf:S000010034Member 2013-03-01 2014-02-28 2014-02-28 Other 2013-10-31 Voya MUTUAL FUNDS 0000895430 false 2014-05-30 2014-05-30 VOYA MUTUAL FUNDS Voya International Real Estate Fund (“Fund”)   Supplement dated May 30, 2014 to the Fund’s Class A, Class B, Class C, Class I and Class W Prospectus dated February 28, 2014, as supplemented May 1, 2014 (“Prospectus”)   Pursuant to guidance from the U.S. Securities and Exchange Commission, as the Fund was originally classified as non-diversified but has been managed as diversified for a period of at least three years, the Fund’s classification has changed from a non-diversified fund to a diversified fund effective May 30, 2014. As a result of this classification change, the Fund is limited in the proportion of its assets that may be invested in the securities of a single issuer. Further, the classification change to a diversified fund may cause the Fund to benefit less from appreciation in a single issuer than if it had greater exposure to that issuer. Voya Mutual Funds is organized as a Delaware statutory trust.   Effective May 30, 2014, the Fund’s Prospectus is hereby revised as follows:   1.                  The fifth paragraph of the section entitled “Principal Investment Strategies” of the Fund’s Prospectus is hereby deleted in its entirety.   2.                  The risk entitled “Issuer Non-Diversification” of the section entitled “Principal Risks” of the Fund’s Prospectus is hereby deleted in its entirety. VOYA MUTUAL FUNDS Voya International Real Estate Fund (“Fund”)   Supplement dated May 30, 2014 to the Fund’s Class A, Class B, Class C, Class I and Class W Prospectus dated February 28, 2014, as supplemented May 1, 2014 (“Prospectus”)   Pursuant to guidance from the U.S. Securities and Exchange Commission, as the Fund was originally classified as non-diversified but has been managed as diversified for a period of at least three years, the Fund’s classification has changed from a non-diversified fund to a diversified fund effective May 30, 2014. As a result of this classification change, the Fund is limited in the proportion of its assets that may be invested in the securities of a single issuer. Further, the classification change to a diversified fund may cause the Fund to benefit less from appreciation in a single issuer than if it had greater exposure to that issuer. Voya Mutual Funds is organized as a Delaware statutory trust.   Effective May 30, 2014, the Fund’s Prospectus is hereby revised as follows:   1.                  The fifth paragraph of the section entitled “Principal Investment Strategies” of the Fund’s Prospectus is hereby deleted in its entirety.   2.                  The risk entitled “Issuer Non-Diversification” of the section entitled “Principal Risks” of the Fund’s Prospectus is hereby deleted in its entirety.