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Global Multi-Credit

  • AUM $6.2 billion
    (31 December 2019)
  • Inception Date 2012
  • Vehicles Available
    • QIF
    • Mutual Fund
    • Separate Account
 

Investment Philosophy

We believe attractive, long-term, risk-adjusted returns can best be achieved through a combination of:

  • Strong fundamental credit underwriting, with the primary focus on principal preservation
  • Active portfolio management to capture the best relative value and identify opportunities for capital appreciation

Our Value Add

One of the industry’s largest global high yield teams

  • 86 dedicated high yield and structured credit investment professionals allow our team to analyze more opportunities
  • Experienced in-house investment professionals in both U.S. and European markets
  • Long-term track records in managing both U.S. and European credit
  • Portfolio managers and analysts provide an on-the-ground, rigorous approach to managing credit by conducting company visits and regularly participating on management calls

In-depth, bottom-up credit analysis provides unparalleled coverage up and down the capital structure, across industries and geographies

  • Integrated loan and bond high yield research and portfolio management
  • On-the-ground resources provide local access and insight into the markets where we’re investing
  • Active portfolio management captures our best ideas while managing risk and optimizing relative value

Portfolio Managers

David Mihalick

David Mihalick

RelatedViewpoints

  • Sentiment Shift Fuels Lower-Rated Rally

    Uncovering relative value across high yield in 2020 may require looking in less obvious places.

    View

  • CLOs: Triple C's and Market Unease

    Taryn Leonard and Melissa Ricco, Co-Heads of Barings’ Structured Credit Investment Team, discuss the recent loan market weakness, and how technical pressures are creating value opportunities in the CLO market.

    View

  • High Yield: Rates, Recessions and Relative Value

    While there is no shortage of risks to consider in today’s high yield markets—from ESG to the end of the credit cycle—Barings’ Martin Horne describes how taking a contrarian approach can help investors uncover pockets of value.

    View

  • U.S. Loans: Challenged Market or Veiled Opportunity?

    With loan and bond yields currently comparable, we believe—in a somewhat contrarian view to the market—there is a good argument for investing in loans, particularly in the U.S., where the economy appears to be marginally stronger than in Europe.

    View

  • High Yield Bonds & Loans: Where to Next?

    High yield markets roared back in the first quarter. Can market fundamentals and technicals support continued strength? And how should investors factor in risks ranging from possible recession, to ratings downgrades, to liquidity concerns? Barings’ David Mihalick weighs in.

    View
See all viewpoints

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