Global Senior Secured High Yield Bonds
- AUM $0.6 billion
(31 March 2019) - Inception Date 2010
- Vehicles Available
- UCITS
- 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
- 69 dedicated high yield 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 capturing our best ideas while managing risk and optimizing relative value
Portfolio Managers
Sean Feeley
Michael Freno
Scott Roth, CFA
Craig Abouchar, CFA
RelatedViewpoints
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Four Reasons Security Matters Right Now
Amid the late stages of an elongated credit cycle, Martin Horne, Barings’ Head of Global High Yield, discusses four reasons why global senior secured bonds—a lesser known and perhaps underappreciated subset of high yield—could be an attractive option in the event of defaults.
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High Yield: Identifying Value Amid Shifting Sentiment
Despite the sharp turns in high yield markets over the past two quarters, companies ticked along without flinching—posting strong earnings over the course. David Mihalick, Barings’ Head of U.S. High Yield Investments, explains why.
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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.
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High Yield: A Swift Rebound
High yield bonds and loans posted a strong Q1 following the technically induced Q4 sell-off. With defaults still near historical lows, current spreads provide attractive risk-adjusted return potential.
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An Underappreciated Subset of High Yield
For investors willing to surrender a nominal amount of yield in favor of greater protection given a default, global senior secured bonds can be an attractive option in a recessionary environment.
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