Voya Global Advantage and Premium Opportunity Fund is a diversified, closed-end management investment company. The Fund's primary investment objective is to provide a high level of income, with a secondary objective of capital appreciation. The Fund invests approximately 80% of its managed assets in a portfolio of common stocks of companies located in a number of different countries throughout the world, including the United States, and utilizes an integrated derivatives strategy. The Fund sells call options on selected security indexes and/or exchange traded funds, on an amount equal to 50-100% of the value of the Fund's common stock holdings. The Fund invests in various sectors, such as financials, information technology, healthcare, consumer discretionary, industrials, consumer staples, energy, materials, utilities and telecommunication services. The Fund's investment advisor is Voya Investments, LLC. NNIP Advisors B.V. is the sub-advisor of the Fund.