EN United States Institutional

Barings Participation Investors

(Ticker:MPV)

News & Events
NAV
as of 09/30/2019
USD 13.920
Share Price
as of 09/30/2019
$17.42
Distribution Rate1
(Share Price)

as of 09/30/2019
6.20%
Number of Issuers
as of 09/30/2019
141 issuers

About the Fund

First offered in 1988, Barings Participation Investors’ investment objective  is to maximize total return by providing a high level of current income, the potential for income growth and capital appreciation.

The principal investments are privately placed, below-investment-grade corporate debt obligations purchased directly from their issuers, which tend to be smaller companies domiciled in U.S. We also invest in publicly traded debt securities (including high yield) and in convertible preferred stocks and, subject to certain limitations, readily marketable equity securities. In addition to these equity securities, we may invest in high-quality, other readily marketable securities. 

We manage the Fund on a total return basis and distribute substantially all of its net income to each year via quarterly dividends.

1The Distribution Rate is based on the Fund’s most recent quarterly distribution, annualized and divided by the Fund’s quarter-end Share Price or NAV.

Strategy

Fund invests primarily in privately placed, below-investment grade debt obligations purchased directly from their issuers and often accompanied by equity features, with additional allocations to publicly traded debt securities, including high yield securities.

Fund Information

Primary Exchange NYSE
Ticker MPV

Fund Data

as of 09/30/2019
Net Asset Value (NAV) $13.92
Total Net Assets $147,228,157
Premium / (Discount) to NAV 25.14%
Dividend Frequency N/A

Definitions: Net Asset Value (NAV) is total assets less total liabilities, divided by the number of shares outstanding. Share Price is the closing price of a closed-end fund on the New York Stock Exchange (NYSE), as of the trading day noted. Premium/Discount is the percent difference between the Share Price and the NAV. There is no guarantee that you will receive the stated Premium/Discount and additional fees may result from individual broker fees and transactions costs in the secondary market.

Performance

Fund Performance

QTR YTD 1 Year 3 Years 5 Years 10 Years Since Inception
NAV 2.34% 9.85% 8.55% 8.88% 8.84% 11.24% 11.48%
Share Price 8.62% 19.81% 25.55% 14.41% 13.71% 13.24% 11.71%

Calendar Year Total Returns

Annualized Total Returns

as of 09/30/2019

Share Price and NAV History

as of 09/30/2019

Premium / Discount History

as of 09/30/2019

Before investing you should consider carefully the Fund's investment objectives, risks, charges and expenses.  

Distributions

Distribution History

Ex Date Record Date Payable Date Amount
11/01/2019 11/04/2019 11/15/2019 $0.2700
08/02/2019 08/05/2019 08/16/2019 $0.2700
05/03/2019 05/06/2019 05/17/2019 $0.2700
12/28/2018 12/31/2018 01/11/2019 $0.2700

Download Distribution History

Distribution Rate

as of 09/30/2019
Share Price 6.20%
NAV 7.80%

IPO Information

Date 10/28/1988
Share Price $10.00
CUSIP 05616B100
Ticker MPV

Before investing you should consider carefully the Fund's investment objectives, risks, charges and expenses.  

Portfolio as of 09/30/2019

Portfolio Assets Composition

Top 10 Holdings

Holding % of Assets
NSI INDUSTRIES HOLDINGS, INC. 2.32%
SR SMITH LLC 1.94%
BCC SOFTWARE, INC. 1.72%
BDP INTERNATIONAL, INC. 1.63%
ROCK-IT-CARGO 1.63%
GRAPHPAD SOFTWARE, INC. 1.62%
HOLLEY PERFORMANCE PRODUCTS 1.60%
ROBERTS-GORDON LLC 1.55%
TRIDENT MARITIME SYSTEMS 1.54%
PANOS BRANDS LLC 1.48%
Total 17.03%

Holdings are subject to change.

Top 10 Moody's Industries

Industry % of Assets
TECHNOLOGY 15.46%
DIVERSIFIED MANUFACTURING 10.55%
INDUSTRIAL OTHER 9.62%
TRANSPORTATION SERVICES 7.58%
FOOD & BEVERAGE 6.60%
AUTOMOTIVE 6.25%
HEALTHCARE 5.76%
CONSUMER PRODUCTS 5.67%
AEROSPACE & DEFENSE 5.62%
BUILDING MATERIALS 4.21%
Total 77.32%

Definitions: Net Asset Value (NAV) is total assets less total liabilities, divided by the number of shares outstanding. Share Price is the closing price of a closed-end fund on the New York Stock Exchange (NYSE), as of the trading day noted. Premium/Discount is the percent difference between the Share Price and the NAV. There is no guarantee that you will receive the stated Premium/Discount and additional fees may result from individual broker fees and transactions costs in the secondary market.

Documents

PAST PERFORMANCE IS NOT NECESSARILY INDICIATIVE OF FUTURE RESULTS. Current performance may be lower or higher than the performance data quoted. The share value and net asset value (NAV) will fluctuate with market conditions. Shares of closed-end investment companies frequently trade at a discount from their net asset value. All returns 1-year or less are cumulative.

Investment return, price, yields and NAV will fluctuate with changes in market conditions. At the time of sale, your shares may have a share price that is above or below net asset value, and may be worth more or less than your original investment. There is no assurance that a fund will meet its investment objective. The Fund is actively managed and its composition will vary. Fund details, holdings and characteristics are as of the date noted and subject to change.

Definitions: Net Asset Value (NAV) is total assets less total liabilities, divided by the number of shares outstanding. Share Price is the closing price of a closed-end fund on the New York Stock Exchange (NYSE), as of the trading day noted. Premium/Discount is the percent difference between the Share Price and the NAV. There is no guarantee that you will receive the stated Premium/Discount and additional fees may result from individual broker fees and transactions costs in the secondary market. An investment in the Fund is not appropriate for all investors and is not intended to be a complete investment program. The Fund is designed as a long-term investment and not as a trading vehicle.

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. The Fund invests in privately-placed below-investment grade, long-term corporate debt obligations, which are subject to credit risk (the risk that an issuer won’t make timely payments of principal and interest) and liquidity risk (the risk that the Fund’s investments may be difficult to sell at an advantageous time or price); high yield debt obligations, commonly referred to as below-investment grade obligations or “junk bonds,” which are subject to credit risk 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); and equity securities, including preferred stocks, warrants and rights, and limited partnership interests, which may have exposure to higher levels of volatility and market and issuer-specific risk. The Fund may trade at a discount to its net asset value and is subject to anti-takeover provisions that may delay, defer or prevent a transaction or a change in control that might otherwise be in the best interests of Fund shareholders. Before investing you should consider carefully the Fund’s investment objectives, risks, charges and expenses. 

Investment products are not insured by FDIC or any federal government agency, may lose value, and are not a deposit or guaranteed by any bank or any bank affiliate.
 
Click here to review a Reporting Person’s Section 16 filings. The link will take you to the SEC ‘s web site. 

 

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

Sean Feeley, CFA

Sean Feeley, CFA

Robert Shettle, CFA

Robert Shettle, CFA

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