EN United States Individual

Barings Diversified Income Fund

CUSIP:06759W711

Symbol:BXTYX

NAV
as of 06/21/2019
USD 9.820
Diversity
as of 05/31/2019
131 issuers
Weighted Average Duration
as of 05/31/2019
0.47 yrs

Formerly known as Barings Total Return Bond Fund

Objective

The Barings Diversified Income Fund seeks to provide a total return comprised of current income and capital appreciation.

Strategy

The fund seeks to achieve its investment objective by investing primarily in an actively managed diversified portfolio of global investment grade rated fixed and floating rate instruments located in any country globally, including emerging markets.

Who Should Invest

The fund is designed for investors seeking a strategy that targets total return with a focus on investing in a diversified portfolio of primarily investment grade bonds.

Performance

Average Annual Returns %

June YTD 1 Year 3 Years 5 Years Since Inception
With Sales Charge N/A N/A N/A N/A N/A N/A
Without Sales Charge 0.42% 3.47% 4.13% 2.29% N/A 2.72%

Performance less than one year is cumulative; all other performance is annualized. Class I and Y Shares are sold at the net asset value per share without a sales charge.

Since inception date: 7/8/2015

May YTD 1 Year 3 Years 5 Years Since Inception
With Sales Charge N/A N/A N/A N/A N/A N/A
Without Sales Charge 0.22% 3.04% 3.30% 2.45% N/A 2.65%
Barclays U.S. Aggregate 1.78% 4.80% 6.40% 2.50% N/A 2.85%

The Barclays U.S. Aggregate Index (the Index) includes domestic, taxable, dollar-denominated securities. The index covers the U.S. investment-grade fixed rate bond market, with index components for government and corporate securities, mortgage pass-through securities, and asset-backed securities. In 2008, Barclays Capital Inc. acquired portions of Lehman Brothers businesses and re-branded its unified family of indices under the "Barclays Capital Indices" name. It is not possible to invest directly in an index.

Inception date: 07/8/2015

QTR YTD 1 Year 3 Years 5 Years Since Inception
With Sales Charge N/A N/A N/A N/A N/A N/A
Without Sales Charge 2.21% 2.21% 2.47% 2.60% N/A 2.55%
Barclays U.S. Aggregate N/A 2.94% 4.48% 2.03% N/A 2.48%

The Barclays U.S. Aggregate Index (the Index) includes domestic, taxable, dollar-denominated securities. The index covers the U.S. investment-grade fixed rate bond market, with index components for government and corporate securities, mortgage pass-through securities, and asset-backed securities. In 2008, Barclays Capital Inc. acquired portions of Lehman Brothers businesses and re-branded its unified family of indices under the "Barclays Capital Indices" name. It is not possible to invest directly in an index.

Inception date: 07/8/2015

Fund Yield

as of 05/31/2019
Sub. SEC 30-day Yield 3.43%
Unsub. SEC 30-day Yield 2.87%
Distribution Yield (at NAV) 3.38%
Distribution Yield (at Offer) 3.38%

The Securities and Exchange Commission 30-day Yield is calculated under an SEC standardized formula and is based on the maximum offer price per share. Subsidized (Sub.) yields reflect fee waivers in effect. Without such waivers, yields would be reduced. Unsubsidized (Unsub.) yields do not reflect fee waivers in effect. Distribution Yield at Offer includes maximum sales charges applied. The distribution yield is based on the fund's most recent monthly distribution per share (annualized) divided by the fund's NAV at the end of the period. Please click on the following links for additional information as well as access to the Fund's Prospectus and SAI.

Expense Ratios

A-Class C-Class I-Class Y-Class
Expense Ratio (Gross) 3.78% 4.66% 1.36% 1.39%
Expense Ratio (Net) 0.80% 1.55% 0.55% 0.55%

The net expense ratio reflects a contractual commitment by the Fund's investment adviser to waive fees and reimburse expenses through November 1, 2018. Absent the waiver and reimbursement, expenses would be higher and total returns would be less. The gross expense ratio reflects the total annual fund operating expense as of the most recent prospectus.

Performance shown is historical and does not guarantee future results. Current performance may be lower or higher. Because share price, principal value, and return will vary, you may have a gain or loss when you sell Fund shares. For current month-end performance information, call 1.855.439.5459. Performance includes the reinvestment of dividends and capital gains. Performance less than one year is cumulative; all other performance is annualized.

Distributions

Distribution History

Ex Date Record Date Payable Date Amount
Daily Daily 06/03/2019 $0.0288
Daily Daily 05/01/2019 $0.0266
Daily Daily 04/01/2019 $0.0242
Daily Daily 03/01/2019 $0.2880
Daily Daily 02/01/2019 $0.0246
Daily Daily 01/02/2019 $0.0331
Daily Daily 12/03/2018 $0.0276
Daily Daily 11/01/2018 $0.0286
Daily Daily 10/01/2018 $0.0275
Daily Daily 09/04/2018 $0.0284
Daily Daily 08/01/2018 $0.0273
Daily Daily 07/02/2018 $0.0273

Download Distribution History

Pricing

52 Week High/Low

Date Price
High 08/24/2018 $9.83
Low 11/27/2018 $9.57

YTD High/Low

Date Price
High 06/21/2019 $9.82
Low 01/02/2019 $9.65

Portfolio as of 05/31/2019

Weighted Average Duration

0.47 yrs

Number of Issuers

131 issuers

Download Portfolio Holdings (xls)

Portfolio Assets Composition

Quality Distribution

Ratings % of Assets
AAA 6.42%
AA 23.46%
A 32.28%
BBB 35.01%
BB AND BELOW 2.29%
CASH AND SHORT TERM 0.54%
Total 100.00%

Percentages of assets are expressed by market value including cash, short-term instruments and accrued income, and will vary over time. Ratings shown are the highest rating given by one of the following national rating agencies: S&P, Moody's or Fitch. Additional information about ratings can be found at www.moodys.com, www.standardandpoors.com and www.fitchratings.com. Credit ratings are subject to change. AAA, AA, A, and BBB are investment grade ratings; BB, B, CCC/CC/C and D are below-investment grade ratings. Bonds backed by U.S. Government or agency securities are given an implied rating equal to the rating of such securities. Holdings designated Not Publicly Rated are not rated by these national rating agencies.

Top 10 Holdings

Holding % of Assets
CBAM LTD 2.39%
JPMORGAN CHASE & CO 2.39%
KKR CLO 25 LTD 2.39%
ALLEGRO CLO LTD 2.38%
GOLDMAN SACHS GROUP INC THE 2.31%
CVS HEALTH CORPORATION 2.19%
MORGAN STANLEY PARENT 2.14%
AT&T INC 2.08%
EATON VANCE CDO LTD 1.91%
CAPITAL ONE FINANCIAL CORP 1.87%
Total 22.05%

Holdings are subject to change. 

Duration Distribution

Duration % of Assets
0-2 YEARS 57.17%
2-4 YEARS 20.85%
4-6 YEARS 16.76%
6-8 YEARS 3.72%
8+ YEARS 1.49%
Total 99.99 %

Percentage of assets are expressed by market value including cash and accrued income, and will vary over time.

 

RISKS

Investing in the Fund involves risks, including the risk that you may receive little or no return on your investment or that you may lose part or even all of your investment. Fixed income investing is subject to interest rate risks. Bond prices and other fixed income product prices generally fall when interest rates rise. Duration measures the price sensitivity of a bond or a portfolio to changes in interest rates. The Fund invests in high yield loans and bonds, commonly referred to as “junk bonds,” including distressed securities, which are subject to greater credit risk (the risk that an issuer won’t make timely payments of principal and interest) and market risk (the risk that the value of the Fund’s investments may fall, sometimes rapidly or unpredictably, as a result of increasing interest rates or otherwise); loans and derivative securities, which may carry market, credit and liquidity risk (the risk that the Fund’s investments may be difficult to sell at an advantageous time or price); foreign securities, which are subject to additional risks including political and economic risks. The Fund may also invest in mortgage and asset-backed securities which may be sensitive to changes in interest rates, subject to early repayment risk, and their value may fluctuate in response to the market's perception of issuer creditworthiness; while generally supported by some form of government or private guarantee there is no assurance that private guarantors will meet their obligations. Although these securities tend to provide higher yields than higher rated securities, there is a greater risk that the Fund’s share price will decline.

We believe the information provided here is reliable, but do not warrant its accuracy or completeness. This material is not intended as an offer or solicitation for the purchase or sale of any financial instrument. The views and strategies described may not be suitable for all investors. This material has been prepared for informational purposes only and is not intended to provide, and should not be relied on for, accounting, legal or tax advice. References to future returns are not promises or even estimates of actual returns a client portfolio may achieve. Any forecasts contained herein are for illustrative purposes only and are not to be relied upon as advice or interpreted as a recommendation. Past performance is no guarantee of future results. Diversification does not ensure profit, nor does it eliminate the risk of experiencing investment losses.

Documents

Before investing you should consider carefully the Fund’s investment objectives, risks, charges and expenses. A prospectus, which contains this and other information, can be obtained by calling 1.855.439.5459. Read the prospectus carefully before investing: BFT Prospectus

ALPS Distributors, Inc. is the distributor for the Barings mutual funds. ALPS and Barings are separate and unaffiliated. 

© 2018 Barings LLC. All rights reserved.

Click here to report Complaints or Concerns Regarding Accounting or Auditing Matters via the service provider’s website. Additional reporting options can be found under Fund Documents.

Portfolio Managers

Kathleen Kraez

Kathleen Kraez

David Nagle, CFA

David Nagle, CFA

Charles Sanford

Charles Sanford

Douglas Trevallion II, CFA

Douglas Trevallion II, CFA

Kristine Li

Kristine Li

X

We use cookies on our website to provide you with the best experience. By proceeding to our site you agree to our Cookies Notice and our site Terms and Conditions.