• Overview
  • Returns & Distributions
  • Reports

The Bentham High Yield Fund is actively managed and focused on generating higher income than traditional fixed income investments. The Fund provides diversified exposure to the US high yield bond market with active allocation between individual securities and industries.

High yield bonds are managed on the belief that returns above benchmark are driven by a strong credit culture and a systematic investment process. Security selection is based on relative value within the capital structure of comparable companies and industries. The preservation of principal and protection against downside risk plays an important role in the investment process. The Fund has a high level of industry and issuer diversification.

Fund Features

  • Access to a diversified high yield credit portfolio
  • Quarterly income distributions
  • Open Fund with daily unit pricing
  • Australian domiciled trust with more than 20 year's track record - one of Australia's longest-running high yield funds
  • Investments not generally available to direct retail investors
  • Access to a global investment universe.

Fund Profile

Fund name Bentham High Yield Fund
Responsible entity Fidante Partners Services Limited
Suggested minimum investment timeframe At least three years
Benchmark Merrill Lynch High Yield Cash Pay Constrained Index (hedged into AUD)
Distribution frequency Quarterly
Investment objective The Fund aims to outperform its benchmark over the suggested minimum investment timeframe
Investment strategy

The Fund is actively managed and aims to provide higher returns than traditional fixed income investments through investing in a diversified portfolio of US corporate debt securities which are rated below investment grade (high yield bonds). The Fund consists primarily of US high yield bonds with limited exposure to syndicated loans and collateralised debt obligations.

Bentham seeks to add value through active allocations between individual securities and industries, while maintaining a highly diversified portfolio.

Investment manager

Bentham Asset Management

CSAC is an appointed sub-advisor and is responsible for security selection

ASX mFund

BAM03

This material has been prepared by Bentham Asset Management Pty Limited (ABN 92 140 833 674) (Bentham), the investment manager of Bentham High Yield Fund (ARSN 088 907 224) (Fund). Fidante Partners Services Limited ABN 44 119 605 373 AFSL 320505 (Fidante), is the responsible entity of the Fund(s).  Other than information which is identified as sourced from Fidante in relation to the Fund, Fidante is not responsible for the information in this material, including any statements of opinion. It is general information only and is not intended to provide you with financial advice or take into account your objectives, financial situation or needs.  You should consider, with a financial adviser, whether the information is suitable for your circumstances. To the extent permitted by law, no liability is accepted for any loss or damage as a result of any reliance on this information. The PDS for the Fund, issued by Fidante, should be considered before deciding whether to acquire or hold units in the Fund. The PDS can be obtained by calling 13 51 53 or visiting www.fidante.com. Neither Fidante nor any of its respective related bodies corporate guarantees the performance of the Fund, any particular rate of return or return of capital. Past performance is not a reliable indicator of future performance. Any projections are based on assumptions which we believe are reasonable, but are subject to change and should not be relied upon. Bentham and Fidante have entered into arrangements in connection with the distribution and administration of financial products to which this material relates.  In connection with those arrangements, Bentham and Fidante may receive remuneration or other benefits in respect of financial services provided by the parties.

Returns

Net fund performance* - as at 31 August 2020 (% p.a.)

Bentham High Yield Fund 1 Year 3 Year 5 Year 7 Year 10 Year 15 Year 20 Year Since
Inception
Bentham High Yield Fund (% p.a.) -0.41 2.88 5.43 5.67 8.06 8.08 8.38 7.90
ML High Yield Cash Pay Constrained Index (hedged into AUD) 1.55 3.46 6.06 5.98 8.06 8.15 8.70 8.28
*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 Global Income Fund - 16 September 2003, Bentham Syndicated Loan Fund - 16 August 2004, Bentham High Yield Fund - 15 October 1998.

Distribution History (% of NAV*)

Financial Year Sep Dec Mar Jun YTD
FY2020  1.22  1.22 1.85   2.08  6.20
FY2019 1.36 1.40 1.37 1.63 5.99
FY2018 1.25 1.24  1.25  4.22  7.90
FY2017 1.20  1.21 1.15  1.03 5.11
FY2016 1.22  1.24 1.29 2.43   6.14
FY2015 1.76 1.62  0.00 3.10   6.67
FY2014 2.43 2.91 2.41 1.94 10.43
FY2013 1.53 2.32 2.57 3.07 10.37
FY2012 2.77 0.78 3.20 4.38 11.82
FY2011 0.96 4.26 2.64 6.69 16.39
FY2010 0.24 0.00 1.72 5.87 9.65
FY2009 1.96 0.00 0.00 1.95 3.64
FY2008 0.85 1.16 0.41 14.34 16.91
FY2007 1.40 0.99 1.10 1.63 5.54
*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 distributions. Source: Fidante Partners Services Limited.
Report Date
Bentham High Yield Fund Aug 2020 pdf - 199 KB
Bentham High Yield Fund Jul 2020 pdf - 198 KB
Bentham High Yield Fund Jun 2020 pdf - 198 KB
Bentham High Yield Fund May 2020 pdf - 199 KB
Bentham High Yield Fund Apr 2020 pdf - 199 KB
Bentham High Yield Fund Mar 2020 pdf - 196 KB
Bentham High Yield Fund Feb 2020 pdf - 198 KB
Bentham High Yield Fund Jan 2020 pdf - 207 KB
Bentham High Yield Fund Dec 2019 pdf - 207 KB
Bentham High Yield Fund Nov 2019 pdf - 207 KB
Bentham High Yield Fund Oct 2019 pdf - 207 KB
Bentham High Yield Fund Sep 2019 pdf - 207 KB

Ratings & Awards

  • logo-smart-investor-color.jpg
  • logo-zenith-color.jpg
  • logo-aus-awards-color.jpg
  • Lonsec Wordmark

Fund Statistics31-Aug-20

A$148.7 m

Fund Size

236

Number of Issuers

21 yrs+

Age of Fund

Quarterly

Distribution Frequency