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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 14 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 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 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 BAM04
*Benchmark for the Bentham Syndicated Loan Fund NZD is the Credit Suisse Leveraged Loan Index, hedged into New Zealand dollars.
This material has been prepared by Bentham Asset Management Pty Limited (ABN 92 140 833 674) (Bentham), the investment manager of Bentham Syndicated Loan Fund (ARSN 110 077 159) (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.
Report Date
Bentham Syndicated Loan Fund Sep 2020 pdf - 226 KB
Bentham Syndicated Loan Fund NZD Sep 2020 pdf - 216 KB
Bentham Syndicated Loan Fund Aug 2020 pdf - 227 KB
Bentham Syndicated Loan Fund NZD Aug 2020 pdf - 217 KB
Bentham Syndicated Loan Fund Jul 2020 pdf - 227 KB
Bentham Syndicated Loan Fund NZD Jul 2020 pdf - 217 KB
Bentham Syndicated Loan Fund Jun 2020 pdf - 226 KB
Bentham Syndicated Loan Fund NZD Jun 2020 pdf - 217 KB
Bentham Syndicated Loan Fund May 2020 pdf - 227 KB
Bentham Syndicated Loan Fund NZD May 2020 pdf - 217 KB
Bentham Syndicated Loan Fund Apr 2020 pdf - 227 KB
Bentham Syndicated Loan Fund NZD Apr 2020 pdf - 217 KB
Bentham Syndicated Loan Fund Mar 2020 pdf - 225 KB
Bentham Syndicated Loan Fund NZD Mar 2020 pdf - 215 KB
Bentham Syndicated Loan Fund Feb 2020 pdf - 226 KB
Bentham Syndicated Loan Fund NZD Feb 2020 pdf - 216 KB
Bentham Syndicated Loan Fund Jan 2020 pdf - 237 KB
Bentham Syndicated Loan Fund NZD Jan 2020 pdf - 215 KB
Bentham Syndicated Loan Fund NZD Dec 2019 pdf - 216 KB
Bentham Syndicated Loan Fund Dec 2019 pdf - 237 KB
Bentham Syndicated Loan Fund NZD Nov 2019 pdf - 192 KB
Bentham Syndicated Loan Fund Nov 2019 pdf - 237 KB
Bentham Syndicated Loan Fund NZD Oct 2019 pdf - 216 KB
Bentham Syndicated Loan Fund Oct 2019 pdf - 237 KB

Returns

Net fund performance* - as at 30 September 2020 (% p.a.)

Bentham Syndicated Loan Fund 1 Year 3 Year 5 Year 7 Year 10 Year Since
Inception
Bentham Syndicated Loan Fund (% p.a.) -2.67 1.13 3.68 4.17 6.20 6.80
Credit Suisse Leveraged Loans Index (hedged into AUD) -0.98 2.27 3.92  4.25 5.94 6.07
*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*)

Fin Year Jul Aug Sep Oct Nov Dec Jan Feb Mar Apr May Jun YTD
FY20 0.39 0.38  0.38                    
FY20 0.37 0.35  0.35   0.36 0.34  0.33   0.34  0.33  0.33 0.29  0.28  0.28   3.70
FY19 0.41 0.41  0.40  0.41  0.40  0.41   0.42 0.41  0.41  0.39  0.38   0.37 4.83
FY18 0.45 0.41  0.40   0.41 0.40 0.41 0.42  0.42  0.42  0.42  0.43  0.45  5.16
FY17 0.45 0.47  0.44  0.45 0.45   0.45 0.44  0.45  0.45  0.44   0.45  0.45  5.79
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.

Ratings & Awards

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Fund Statistics30-Sep-20

A$2.94 bn

Fund Size

393

Number of Issuers

16 yrs

Age of Fund

Monthly

Distribution Frequency