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Barings Investment Grade CLO Fund

ISIN:IE00BQLDPQ02

Fund Size
as of 31/08/2020
$ 506.60 Million
Number of Investments
as of 31/08/2020
144 issuers
Yield to Maturity
as of 31/08/2020
2.93%
Spread
as of 31/08/2020
272 bps
Average Credit Rating
as of 31/08/2020
A

Fund Facts

Fund Type Qualifying Investor Alternative Investment Fund
Inception Date 21/03/2014
Domicile Ireland
Asset Class Structured Credit
Morningstar Category Loans
Distributions Quarterly
Dealing Frequency Monthly

Share Class Info

Share Class C
ISIN IE00BQLDPQ02
Currency JPY
Accumulating / Distributing Distributing
Management Charges 0.25%

Objective

The Barings Investment Grade CLO Fund seeks to provide access to attractive credit spreads and considerable protection from credit losses by investing primarily in senior CLO tranches that are carefully selected by Barings’ highly experienced structured credit team.

Strategy

The Fund opportunistically invests primarily in senior U.S. CLO tranches—1st, 2nd, 3rd, and 4th priority—with original ratings between AAA and BBB. The Fund employs a fundamental credit process with experienced CLO managers, structures and collateral portfolios and seeks to capture relative value opportunities between both the primary and secondary markets and the 1st, 2nd, 3rd and 4th priority tranches.

Who Should Invest

The Fund is designed for investors seeking to benefit from a strategy that provides current income generation and, where appropriate, capital appreciation.

Risks

The value of investments and the income they provide can fall as well as rise and investors may not get back the amount originally invested. The Fund may hold assets that are not always readily saleable. The Fund may have to lower the selling price, sell other investments or forego another more appealing investment opportunity as a result.

The information available on this website is not an offer to sell or an invitation to apply for this product and is by way of information only, nor is the information available on this website intended as an offering of this product to US Persons. Depending on your jurisdiction, you may not have access to this product. Individual investors should contact their financial advisor before investing in this product. The Key Investor Information Document (KIID), if applicable, must be received and read before investing. All other relevant documents relating to the product such as the Report and Accounts and Prospectus should also be read. The information available on this website does not constitute investment, tax, legal or other advice or recommendation.

Portfolio as of 31/08/2020

Average Life

5.85 yrs

Number of Managers

43.00 Managers

Regional Composition - Bonds

Credit Quality

Top 10 Holdings

Holding % of Assets
CIFC FUNDING 2014-V - RESET 2.56%
RR 5 LTD. 1.56%
CRESTLINE DENALI CLO XIV - RESET 1.48%
ROCKFORD TOWER 1.37%
HPS LOAN MANAGEMENT 14-2019, LTD. 1.37%
BLUEMOUNTAIN CLO XXIII LTD. 1.35%
CAIRN CLO X B.V. 1.32%
DRYDEN 56 EURO CLO 2017 B.V. 1.24%
REGATTA VIII FUNDING 1.21%
OAKTREE CLO 2018-1, LTD. 1.17%
Total 14.63%

Top 10 CLO Managers

Manager % of MV
APOLLO MANAGEMENT, L.P. 7.95%
BAIN CAPITAL CREDIT 5.87%
CSFB ALTERNATIVE CAPITAL 4.87%
KKR CREDIT ADVISORS 4.66%
CIFC ASSET MANAGEMENT 4.60%
PGIM 4.39%
CAIRN CAPITAL LIMITED 4.31%
FIRST EAGLE INVESTMENT MANAGEMENT (FKA: THL CREDIT 3.78%
OAK HILL ADVISORS 3.66%
CRESTLINE DENALI CAPITAL, L.P. 3.26%
Total 47.35%

Portfolio Managers

Kathleen Kraez

Kathleen Kraez

X

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