0000895430 2017-02-28 2017-02-28 0000895430 vmf:S000012534Member 2017-02-28 2017-02-28 2017-02-28 497 2016-10-31 Voya MUTUAL FUNDS 0000895430 false 2017-05-24 2017-05-24 VOYA MUTUAL FUNDS Voya Global Bond Fund (“Fund”)   Supplement dated May 24, 2017 to the Fund’s Class A, Class C, Class I, Class O, Class P, Class R and Class W Prospectus, and Class R6 Prospectus (each a “Prospectus” and collectively the “Prospectuses”) each dated February 28, 2017   Pursuant to the 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 24, 2017. 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 immediately, the Fund’s Prospectuses are hereby revised as follows:   <table cellpadding="0" cellspacing="0" width="100%" style=" margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top"> <td style="width: 0"></td><td style="width: 13.5pt">1.</td><td style="text-align: justify">The eighth paragraph of the section entitled “Principal Investment Strategies” of the Fund’s Prospectuses is deleted in its entirety.</td></tr></table>   <table cellpadding="0" cellspacing="0" width="100%" style=" margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top"> <td style="width: 0"></td><td style="width: 13.5pt">2.</td><td style="text-align: justify">The risk entitled “Issuer Non-Diversification” of the section entitled “Principal Risks” of the Fund’s Prospectuses is hereby deleted in its entirety.</td></tr></table> VOYA MUTUAL FUNDS Voya Global Bond Fund (“Fund”)   Supplement dated May 24, 2017 to the Fund’s Class A, Class C, Class I, Class O, Class P, Class R and Class W Prospectus, and Class R6 Prospectus (each a “Prospectus” and collectively the “Prospectuses”) each dated February 28, 2017   Pursuant to the 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 24, 2017. 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 immediately, the Fund’s Prospectuses are hereby revised as follows:   <table cellpadding="0" cellspacing="0" width="100%" style=" margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top"> <td style="width: 0"></td><td style="width: 13.5pt">1.</td><td style="text-align: justify">The eighth paragraph of the section entitled “Principal Investment Strategies” of the Fund’s Prospectuses is deleted in its entirety.</td></tr></table>   <table cellpadding="0" cellspacing="0" width="100%" style=" margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top"> <td style="width: 0"></td><td style="width: 13.5pt">2.</td><td style="text-align: justify">The risk entitled “Issuer Non-Diversification” of the section entitled “Principal Risks” of the Fund’s Prospectuses is hereby deleted in its entirety.</td></tr></table>