BXFEX — MassMutual Global Floating Rate Fund
Data updated: 2026-08-27
BXFEX — MassMutual Global Floating Rate Fund. Short Corporate Bond · $104.39M AUM · 0.70% expense ratio. Holdings, fees, performance and SEC filings.
BXFEX Fund Overview
BXFEX — MassMutual Global Floating Rate Fund is a US mutual fund managed by MassMutual Advantage Funds, categorised as Short Corporate Bond. ABC INVEST provides holdings, performance, costs, cashflows, risk data, prospectus documents and SEC filings, sourced from SEC filings.
- Type: US mutual fund
- Manager: MassMutual Advantage Funds
- Category: Short Corporate Bond
- Assets under management: $104.39M
- Ticker: BXFEX
- SEC CIK: 0001859808
- SEC series ID: S000072765
- Share class ID: C000271064
BXFEX Investment Objective and Strategy
MassMutual Global Floating Rate Fund describes its objective and strategy as follows, from its latest prospectus filed with the SEC by MassMutual Advantage Funds.
Investment objective
This Fund seeks a high level of current income. Preservation of capital is a secondary goal.
Principal investment strategy
Principal Investment Strategies Under normal circumstances, the Fund invests at least 80% of its net assets (plus the amount of any borrowings for investment purposes) in income-producing floating rate debt securities, consisting of floating rate loans, bonds, and notes, issued primarily by North American and Western European companies. For this purpose, debt instruments issued by issuers based in the Channel Islands, Cayman Islands, and Bermuda are considered North American and Western European companies. Such instruments are primarily, at the time of purchase, rated below investment grade (junk or high yield) by at least one credit rating agency (below Baa3 by Moodys Investors Service, Inc. or below BBB- by either S&P Global Ratings, a subsidiary of S&P Global, or Fitch Ratings, Inc.) or, if unrated, determined to be of comparable quality by the Funds subadviser, Barings LLC (Barings), or sub-subadviser, Baring International Investment Limited (BIIL).
The Fund may invest in a wide range of income-producing floating rate loans, bonds, and notes of issuers based in U.S. and non-U.S. markets, but primarily invests in senior secured loans of North American and Western European corporate issuers that are of below investment grade quality. Under normal market conditions, the Fund allocates its assets among various regions and countries (but in no less than three different countries) and invests at least 40% of its net assets in securities of non-U.S. issuers (or, if less, at least the percentage of net assets that is 5 percentage points less than the percentage of the market-capitalization weighted average of the S&P UBS Leveraged Loan Index and the S&P UBS Western European Leveraged Loan Index, represented by non-U.S. issuers). A significant portion of the Funds investments in floating rate debt securities is denominated in a currency other than the U.S.
dollar. Although the Funds investments in non-U.S. dollar-denominated assets may be on a currency hedged or unhedged basis, under normal market conditions, the Fund seeks to hedge substantially all of its exposure to non-U.S. currencies. The Fund may at times have significant exposure to one or more industries or sectors. The Fund seeks to take advantage of inefficiencies between geographies, primarily the North American and Western European loan and other debt markets. For example, the Fund seeks to take advantage of differences in pricing between senior secured loans of an issuer denominated in U.S. dollars and substantially similar senior secured loans of the same issuer denominated in Euros, potentially allowing the Fund to achieve a higher relative return for the same credit risk exposure.
The Fund invests primarily in senior secured loans (consisting of assignments and participations). By purchasing a participation, the Fund acquires some or all of the interest of a bank or other lending institution in a loan to a borrower. Participations typically will result in the Fund having a contractual relationship only with the lender and not the borrower. When the Fund purchases assignments from lenders, the Fund will acquire direct rights against the borrower on the loan. The Fund may invest in both floating rate debt instruments and debt instruments that pay a fixed rate of interest; listed and unlisted corporate debt obligations; convertible securities; structured products (consisting of collateralized bond and loan obligations); bank obligations; U.S. government securities; preferred securities and trust preferred securities; unsecured loans; delayed funding loans and revolving credit facilities; when-issued securities, delayed delivery purchases, and forward commitments; zero-coupon bonds, step-up bonds, and payment-in-kind securities; commercial paper; repurchase agreements; and other investment companies.
The instruments in which the Fund invests are primarily below investment grade quality, and may include investments in the lowest rating category of the applicable rating agency. The Fund may invest in distressed loans and bonds that are in default at the time of purchase in an effort to protect the Funds existing investments in securities of the same issuers. The Fund also may invest in equity securities (consisting of common and preferred stocks, warrants and rights, and limited partnership interests), but invests in such equity investments only for the preservation of capital. The Fund may also use over-the-counter and exchange-traded derivatives for hedging purposes or speculative purposesas substitutes for investments in securities in which the Fund can investprovided that, at the time the Fund enters into a derivative transaction, the Fund segregates assets determined to be liquid by Barings or BIIL in accordance with procedures established by the Funds Board of Trustees, in an amount at least equal to any payment or delivery obligation of the Fund in connection with such derivative transaction.
The Funds use of derivatives may consist primarily of total return swaps, options, index swaps or swaps on components of an index, interest rate swaps, credit default swaps, and foreign currency forward contracts and futures. The Fund may hold a portion of its assets in cash or cash equivalents. The Fund may invest in investments of any duration or maturity. The Fund may borrow up to one-third of its assets (including the amount borrowed) to fund redemptions, post collateral for hedges, or to purchase loans, bonds, or structured products prior to settlement of pending sale transactions. Securities may be sold when Barings or BIIL believes they no longer represent relatively attractive investment opportunities.
BXFEX Holdings
Top 10 holdings of MassMutual Global Floating Rate Fund by percentage of net assets, from the fund's latest SEC N-PORT filing.
| Holding | % of net assets |
|---|---|
| Fixed Income Clearing Corp. | 9.51% |
| CD&R Firefly Bidco Limited | 1.27% |
| Matterhorn Telecom Holding SA | 1.10% |
| Banijay Entertainment Sas | 1.10% |
| Zegona Communications PLC | 1.10% |
| Nidda Healthcare Holding AG | 1.09% |
| Eircom Finco S.a.r.l. | 1.09% |
| Fugue Finance Bv | 1.09% |
| Flint Group Topco Limited | 1.06% |
| Sandy BidCo BV | 1.00% |
BXFEX Portfolio Allocation
Asset-class allocation of MassMutual Global Floating Rate Fund by percentage of net assets, from the latest SEC N-PORT filing.
| Asset class | Allocation |
|---|---|
| Loans | 85.6% |
| Cash & Equivalents | 9.5% |
| Fixed Income | 8.4% |
| Equity | 1.6% |
| Derivatives | 0.4% |
BXFEX Performance
Total returns for BXFEX (as of 2026-10-01), from SEC filings.
| Period | Total return |
|---|---|
| YTD | 0.2% |
| 1 year | 2.0% |
| 3 years (annualised) | 5.6% |
BXFEX Risk Information
Risk metrics for BXFEX, derived from monthly returns in SEC filings.
- 1-year volatility (annualised): 1.6%
BXFEX Costs and Fees
BXFEX costs about $70 per $10,000 invested per year in fund expenses.
- Net expense ratio: 0.70%
- Gross expense ratio: 1.01%
- Portfolio turnover: 41%
- Brokerage commissions: 0.00 bps of average net assets (SEC N-CEN)
BXFEX Cashflows
Over the 12 months to 2026-06, MassMutual Global Floating Rate Fund had net outflows of $20.39M, from monthly SEC N-PORT filings.
| Month | Net flow |
|---|---|
| 2026-06 | $3.56M |
| 2026-05 | $1.24M |
| 2026-04 | −$8.66M |
| 2026-03 | −$10.29M |
| 2026-02 | −$5.20M |
| 2026-01 | −$886.21K |
BXFEX Debt Constituents
Largest debt holdings of MassMutual Global Floating Rate Fund by percentage of net assets, from the latest SEC N-PORT filing.
| Debt holding | % of net assets |
|---|---|
| Grifols SA | 0.94% |
| Atos Group | 0.93% |
| Froneri Lux Finco Sarl | 0.85% |
| Summer Bc Holdco B Sarl | 0.57% |
| Altice France SA | 0.55% |
| Plt Vii Finance Sarl | 0.48% |
| Fibercop Spa | 0.45% |
| Intrum Inv And Fin | 0.39% |
| Travelex Issuerco 2 PLC | 0.30% |
| Fedrigoni Spa | 0.28% |
BXFEX Prospectus and SEC Filings
Official MassMutual Global Floating Rate Fund filings on SEC EDGAR — prospectus, portfolio holdings and annual reports.
- Prospectus (485BPOS) — filed 2026-01-30
- Prospectus (485BPOS) — filed 2025-01-31
- Prospectus (485BPOS) — filed 2024-02-01
- Portfolio holdings (N-PORT) — filed 2026-08-27
- Portfolio holdings (N-PORT) — filed 2026-05-27
- Portfolio holdings (N-PORT) — filed 2026-02-26
- Annual census (N-CEN) — filed 2025-12-12
- Annual census (N-CEN) — filed 2024-12-13
Related Funds
Other Short Corporate Bond funds tracked on ABC INVEST:
Data Sources
ABC INVEST compiles this page from public filings made to the U.S. Securities and Exchange Commission (SEC) through EDGAR: portfolio holdings and monthly cashflows from Form N-PORT, expenses and returns from fund prospectuses (Form 485BPOS) and the SEC DERA Risk/Return Summary data sets, annual data from Form N-CEN, and shareholder reports from Form N-CSR.