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.
- 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 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*|
|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.|
*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 Product Disclosure Statement (PDS) and Target Market Determination (TMD) for the Fund, issued by Fidante, should be considered before deciding whether to acquire or hold units in the Fund. The PDS and TMD 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.
Net fund performance* – as at 30 September 2023 (% p.a.)
|Bentham Syndicated Loan Fund||1 Year||3 Year p.a.||5 Year p.a.||7 Year p.a.||10 Year p.a.||Since Inception p.a.|
|Bentham Syndicated Loan Fund (% p.a.)||10.52||4.99||2.60||3.84||4.42||6.51|
|Credit Suisse Leveraged Loans Index (hedged into AUD)||11.04||5.19||3.34||4.05||4.53||5.93|
*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*)
*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.