• Overview
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The Bentham Syndicated Loan Fund is actively managed and focused on generating stable investment income. The Fund aims to provide investors with exposure to high-yielding investments primarily through the US syndicated loan market, with an active allocation to investments in different industries, issuers and geographies.

A syndicated loan is a senior loan that is made to a company, whose credit rating is generally below investment grade. Loans generally pay a floating rate of interest, have a maturity date and can be redeemed early. A loan is protected from the borrower's failure to repay the interest or principal by taking security over assets. This security is generally in the form of a fixed and floating charge over the company's assets. Security enhances recovery levels in the event of default (i.e. the secured debt holders get paid before all other debt and equity). In addition, loans generally have covenants which allow the lender to take action to protect their investment.

Fund features

  • Access to senior secured syndicated loans which are not generally available to direct retail investors
  • Monthly income distributions
  • High running yield with low interest rate risk
  • Australian domiciled trust with more than 11 year's track record
  • Loans are valued to market prices daily - with daily unit pricing
  • Access to a global investment universe.

Fund profile

Fund name Bentham Wholesale Syndicated Loan Fund
Investment manager Bentham Asset Management
Responsible entity Fidante Partners Services Limited
Suggested minimum investment timeframe At least three years
Benchmark Credit Suisse Leverage Loan Index (hedged into Australian dollars)
Currency The Fund is denominated in Australian dollars. A New Zealand dollar denominated fund (Bentham Wholesale Syndicated Loan Fund NZD) is also available from October 2013*
Distribution frequency Monthly
Investment objective The Fund aims to achieve investment returns above its benchmark over the suggested minimum investment timeframe
Investment strategy The Fund is actively managed and aims to provide exposure to high yielding investments primarily through the US syndicated loan market (non-investment grade securities) with limited exposure to US corporate debt securities that are rated below investment grade (high yield bonds) and collateralised debt obligations. The Fund seeks to add value through loan selection and industry rotation, while maintaining a highly diversified portfolio.
ASX mFund ASX Class available via mFund code BAM04
*Benchmark for the Bentham Wholesale Syndicated Loan Fund NZD is the Credit Suisse Leveraged Loan Index, hedged into New Zealand dollars.
The information contained above is current as at September 2013 and is provided by Fidante Partners Services Limited ABN 44 119 605 373 AFSL 320505, the issuer of the Bentham Syndicated Loan Fund and Fidante Partners Limited ABN 94 002 835 592 AFSL 234668, the issuer of the Bentham Syndicated Loan Fund NZD. It should be regarded as general information only rather than advice. It has been prepared without taking account of any person's objectives, financial situation or needs. Because of that each person should, before acting on any such information, consider its appropriateness, having regard to their objectives, financial situation and needs. Each person should obtain a Product Disclosure Statement (PDS) relating to the product and consider that Statement before making any decision about the product. A copy of the PDS can be obtained from your financial planner, the Fidante Partners Investor Services Team on 13 51 53, or on the Fidante Partners website: www.fidante.com.au. If you acquire or hold the product, we and/or a Fidante Partners related company will receive fees and other benefits which are generally disclosed in the PDS or other disclosure document for the product. Neither Fidante Partners nor a Fidante Partners related company and our respective employees receive any specific remuneration for any advice provided to you. However, financial advisers (including some Fidante Partners related companies) may receive fees or commissions if they provide advice to you or arrange for you to invest in the Fund. Bentham Asset Management, some or all of Fidante Partners related companies and directors of those companies may benefit from fees, commissions and other benefits received by another group company.

Returns

Net fund performance* - as at 31 March 2017 (% p.a.)

Bentham Wholesale Syndicated Loan Fund 1 Year 3 Year 5 Year 7 Year 10 Year Since
Inception
Bentham Wholesale Syndicated Loan Fund (% p.a.) 12.66 5.91 7.78  8.67 7.89 8.19
Credit Suisse Leveraged Loans Index (hedged into AUD) 11.04 5.50 7.14 7.82 6.74 7.08
*Returns are calculated after fees and using pre-distribution month end withdrawal unit prices, and assumes all income is reinvested in additional units. Past performance is not necessarily indicative of future performance. Returns may be volatile and may vary from year to year. Source: Fidante Partners Services Limited, State Street. Fund inception dates: Bentham Wholesale Global Income Fund - 16 September 2003, Bentham Wholesale Syndicated Loan Fund - 16 August 2004, Bentham Wholesale High Yield Fund - 15 October 1998.

Distribution history (% of NAV*)

Fin Year Jul Aug Sep Oct Nov Dec Jan Feb Mar Apr May Jun Year
FY17 0.45 0.47  0.44  0.45 0.45   0.45 0.44  0.45  0.45       4.31
FY16 0.40 0.40 0.40  0.40  0.40 0.40 0.40 0.40 0.41   0.39 0.39 0.29  4.65
FY15 0.47 0.48 0.47 0.47 0.47  0.49   0.48 0.45   0.43  0.44 0.43 1.33  6.53 
FY14 0.54 0.53 0.52 0.52 0.52 0.52 0.53 0.52 0.52 0.53 0.54 2.31 8.47
FY13 0.64 0.70 0.67 0.66 0.66 0.64 0.63 0.56 0.61 0.62 0.61 0.59 8.17
FY12 1.01 0.97 1.00 0.72 0.69 0.68 0.72 0.71 0.71 0.68 0.63 1.92 10.61
FY11 0.74 0.73 0.74 0.74 0.75 0.75 0.74 0.92 0.92 0.92 0.92 4.15 14.12
FY10 0.62 0.62 0.63 0.65 0.67 0.70 0.70 0.69 0.68 0.68 0.72 1.24 10.09
FY09 0.65 0.66 0.65 0.56 0.46 0.36 0.38 0.32 0.26 0.29 0.27 0.28 4.85
FY08 0.49 0.50 0.54 0.58 0.57 0.58 0.59 0.59 0.59 0.64 0.66 5.26 11.17
FY07 0.50 0.48 0.50 0.50 0.50 0.50 0.54 0.54 0.52 0.47 0.54 1.33 7.31
*Calculated as the CPU distribution at month end divided by the ex-distribution NAV at the start of the month. Past distributions are no indication of future distributons. Source: Fidante Partners Services Limited.
Report Date
Bentham Syndicated Loan Fund Mar 2017 pdf - 227 KB
Bentham Syndicated Loan Fund NZD Mar 2017 pdf - 202 KB
Bentham Syndicated Loan Fund Feb 2017 pdf - 203 KB
Bentham Syndicated Loan Fund NZD Feb 2017 pdf - 176 KB
Bentham Syndicated Loan Fund Jan 2017 pdf - 175 KB
Bentham Syndicated Loan Fund NZD Jan 2017 pdf - 176 KB
Bentham Syndicated Loan Fund Dec 2016 pdf - 175 KB
Bentham Syndicated Loan Fund NZD Dec 2016 pdf - 175 KB
Bentham Syndicated Loan Fund Nov 2016 pdf - 201 KB
Bentham Syndicated Loan Fund NZD Nov 2016 pdf - 201 KB
Bentham Syndicated Loan Fund Oct 2016 pdf - 201 KB
Bentham Syndicated Loan Fund NZD Oct 2016 pdf - 226 KB
Bentham Syndicated Loan Fund Sep 2016 pdf - 202 KB
Bentham Syndicated Loan Fund NZD Sep 2016 pdf - 226 KB
Bentham Syndicated Loan Fund Aug 2016 pdf - 201 KB
Bentham Syndicated Loan Fund NZD Aug 2016 pdf - 226 KB
Bentham Syndicated Loan Fund Jul 2016 pdf - 201 KB
Bentham Syndicated Loan Fund NZD Jul 2016 pdf - 226 KB
Bentham Syndicated Loan Fund Jun 2016 pdf - 202 KB
Bentham Syndicated Loan Fund NZD Jun 2016 pdf - 226 KB
Bentham Syndicated Loan Fund May 2016 pdf - 201 KB
Bentham Syndicated Loan Fund NZD May 2016 pdf - 226 KB
Bentham Syndicated Loan Fund Apr 2016 pdf - 201 KB
Bentham Syndicated Loan Fund NZD Apr 2016 pdf - 226 KB

Ratings & Awards

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  • Lonsec Wordmark

Fund Statistics31-Mar-17

A$4.31 bn

Fund Size

420

Number of Issuers

12 yrs

Age of Fund

Monthly

Distribution Frequency