Overview
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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 nameBentham High Yield Fund
Responsible entityFidante Partners Services Limited
Suggested minimum investment timeframeAt least three years
BenchmarkMerrill Lynch High Yield Cash Pay Constrained Index (hedged into AUD)
Distribution frequencyQuarterly
Investment objectiveThe Fund aims to outperform its benchmark over the suggested minimum investment timeframe
Investment strategyThe 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 managerBentham Asset ManagementCSAC is an appointed sub-advisor and is responsible for security selection
ASX mFundBAM03
Returns & Distributions
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Returns

Net fund performance* – as at 30 April 2022 (% p.a.)

Bentham High Yield Fund1 Year3 Year p.a.5 Year p.a.7 Year p.a.10 Year p.a.15 Year p.a.20 Year p.a.Since Inception p.a.
Bentham High Yield Fund (% p.a.)-4.830.992.513.795.757.098.287.38
ML High Yield Cash Pay Constrained Index (hedged into AUD)-5.481.402.744.005.817.118.477.72

*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 YearSepDecMarJunYTD
FY20221.121.131.113.11
FY20211.361.351.32-10.78
FY20201.221.221.852.086.20
FY20191.361.401.371.635.99
FY20181.251.241.254.227.90
FY20171.201.211.151.035.11
FY20161.221.241.292.436.14
FY20151.761.620.003.106.67
FY20142.432.912.411.9410.43
FY20131.532.322.573.0710.37
FY20122.770.783.204.3811.82
FY20110.964.262.646.6916.39
FY20100.240.001.725.879.65
FY20091.960.000.001.953.64
FY20080.851.160.4114.3416.91
FY20071.400.991.101.635.54

*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.

Reports
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Fund Reports

PeriodBentham High Yield Fund
Jan 2017pdf - 173 KB
Feb 2017pdf - 174 KB
Mar 2017pdf - 252 KB
Apr 2017pdf - 252 KB
May 2017pdf - 172 KB
Jun 2017pdf - 174 KB
Jul 2017pdf - 173 KB
Aug 2017pdf - 174 KB
Sep 2017pdf - 191 KB
Oct 2017pdf - 174 KB
Nov 2017pdf - 174 KB
Dec 2017pdf - 174 KB
Jan 2018pdf - 174 KB
Feb 2018pdf - 174 KB
Mar 2018pdf - 174 KB
Apr 2018pdf - 174 KB
May 2018pdf - 173 KB
Jun 2018pdf - 173 KB
Jul 2018pdf - 173 KB
Aug 2018pdf - 173 KB
Sep 2018pdf - 174 KB
Oct 2018pdf - 363 KB
Nov 2018pdf - 363 KB
Dec 2018pdf - 246 KB
Jan 2019pdf - 237 KB
Feb 2019pdf - 239 KB
Mar 2019pdf - 188 KB
Apr 2019pdf - 212 KB
May 2019pdf - 215 KB
Jun 2019pdf - 287 KB
Jul 2019pdf - 238 KB
Aug 2019pdf - 206 KB
Sep 2019pdf - 207 KB
Oct 2019pdf - 207 KB
Nov 2019pdf - 207 KB
Dec 2019pdf - 207 KB
Jan 2020pdf - 207 KB
Feb 2020pdf - 198 KB
Mar 2020pdf - 196 KB
Apr 2020pdf - 199 KB
May 2020pdf - 199 KB
Jun 2020pdf - 198 KB
Jul 2020pdf - 198 KB
Aug 2020pdf - 199 KB
Sep 2020pdf - 198 KB
Oct 2020pdf - 199 KB
Nov 2020pdf - 199 KB
Dec 2020pdf - 198 KB
Jan 2021pdf - 201 KB
Feb 2021pdf - 201 KB
Mar 2021pdf - 200 KB
Apr 2021pdf - 200 KB
May 2021pdf - 200 KB
Jun 2021pdf - 201 KB
Jul 2021pdf - 201 KB
Aug 2021pdf - 202 KB
Sep 2021pdf - 202 KB
Oct 2021pdf - 203 KB
Nov 2021pdf - 203 KB
Dec 2021pdf - 202 KB
Jan 2022pdf - 203 KB
Feb 2022pdf - 203 KB
Mar 2022pdf - 202 KB
Apr 2022pdf - 202 KB
Apply Now Contact Us Today Performance Graph

Fund Statistics
31-Mar-22

A$ 151.3 m
Fund Size
255
Number of Issuers
23 yrs+
Age of Fund
Quarterly
Distribution Frequency