Barings U.S. High Yield Fund
Data updated: 2021-11-24
C000157614 — Barings U.S. High Yield Fund. Corporate Bond · $54.18M AUM · 1.00% expense ratio. Holdings, fees, performance and SEC filings.
C000157614 Fund Overview
Barings U.S. High Yield Fund is a US mutual fund managed by Barings Funds Trust, categorised as 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: Barings Funds Trust
- Category: Corporate Bond
- Assets under management: $54.18M
- 1-year return: 16.6%
- SEC CIK: 0001577579
- SEC series ID: S000049917
- Share class ID: C000157614
C000157614 Investment Objective and Strategy
Barings U.S. High Yield Fund describes its objective and strategy as follows, from its latest prospectus filed with the SEC by Barings Funds Trust.
Investment objective
Barings U.S. High Yield Fund (U.S. High Yield Fund or the Fund) seeks to achieve a high level of total return, with an emphasis on current income, by investing primarily in high yield debt and related securities.
Principal investment strategy
The Fund invests primarily in lower rated U.S. debt securities (junk or high yield bonds), including securities in default. Debt securities may include, for example, corporate bonds, mortgage-backed and asset-backed securities, and obligations of the U.S. government or its agencies or instrumentalities. Under normal circumstances, the Fund invests at least 80% of its net assets (including the amount of any borrowings for investment purposes) in below investment grade fixed income securities (rated below Baa3 by Moody's or BBB- by either S&P or Fitch (using the lower rating) or, if unrated, determined by the Manager to be of comparable quality), and at least 80% of its net assets (including the amount of any borrowings for investment purposes) in securities of U.S. issuers. The Fund may also invest in convertible securities, preferred stocks, warrants, bank loans, and other fixed income securities, including Rule 144A securities, of both U.S.
and non-U.S. issuers. Currently, the Manager does not expect that the Fund will invest more than 20% of its total assets in bank loans. The Fund may invest up to 15% of its total assets in securities that are not denominated in U.S. dollars including, but not limited to, corporate bonds, government and agency issues, Rule 144A securities, convertible securities, bank loans, mortgage-backed, and asset-backed securities. In pursuing its investment objective, the Fund may (but is not obligated to) use a wide variety of exchange-traded and over-the-counter derivatives, including futures contracts (for hedging purposes, to adjust various portfolio characteristics, including the duration (interest rate volatility) of the Fund's portfolio, or as a substitute for direct investments); interest rate swaps (for hedging purposes or as a substitute for direct investments); total return swaps (for hedging purposes); and credit default swaps (for hedging purposes, to adjust various portfolio characteristics, including the duration (interest rate volatility) of the Fund's portfolio, or as a substitute for direct investments).
Use of derivatives by the Fund may create investment leverage. Derivatives instruments that provide exposure to investment grade fixed-income securities or have economic characteristics similar to such investments may be used to satisfy the Fund's 80% policy. The Fund may enter into repurchase agreement transactions. The Fund may hold a portion of its assets in cash or cash equivalents. The Fund may enter into reverse repurchase agreement transactions. Under normal market conditions, the Fund expects to have a dollar-weighted average portfolio maturity ranging from 4 to 10 years. The Fund's portfolio may include securities with maturities outside this range, and the range may change from time to time. In selecting the Fund's investments, the Manager employs a bottom-up, fundamental approach to its credit analysis, which focuses first on a specific issuer's financial strength, among other things, before considering trends or macro-economic factors.
The Manager prefers companies that it believes possess one or more of the following characteristics: strong business position, ability to generate free cash flow to repay debt, favorable capital structure, high level of fixed assets, conservative accounting, and respected management or equity sponsor(s) (such management and sponsors would have a good reputation and/or have had prior positive relations with the Manager). The Fund expects that it will engage in active and frequent trading and so will typically have a relatively high portfolio turnover rate.
C000157614 Performance
Total returns for C000157614 (as of 2026-10-01), from SEC filings.
| Period | Total return |
|---|---|
| 1 year | 16.6% |
C000157614 Risk Information
Risk metrics for C000157614, derived from monthly returns in SEC filings.
- 1-year volatility (annualised): 6.9%
C000157614 Costs and Fees
C000157614 costs about $100 per $10,000 invested per year in fund expenses.
- Net expense ratio: 1.00%
- Gross expense ratio: 1.64%
- Portfolio turnover: 75%
- Brokerage commissions: 0.00 bps of average net assets (SEC N-CEN)
C000157614 Cashflows
Over the 12 months to 2021-09, Barings U.S. High Yield Fund had net inflows of $2.29M, from monthly SEC N-PORT filings.
| Month | Net flow |
|---|---|
| 2021-09 | −$123.06K |
| 2021-08 | $395.26K |
| 2021-07 | $500.54K |
| 2021-06 | −$571.89K |
| 2021-05 | −$776.75K |
| 2021-04 | $1.21M |
C000157614 Debt Constituents
No individual debt constituents are reported in Barings U.S. High Yield Fund's latest SEC N-PORT filing.
C000157614 Prospectus and SEC Filings
Official Barings U.S. High Yield Fund filings on SEC EDGAR — prospectus, portfolio holdings and annual reports.
- Prospectus (485BPOS) — filed 2021-10-29
- Prospectus (485BPOS) — filed 2020-10-28
- Prospectus (485BPOS) — filed 2020-05-06
- Portfolio holdings (N-PORT) — filed 2021-11-24
- Portfolio holdings (N-PORT) — filed 2021-08-19
- Portfolio holdings (N-PORT) — filed 2021-05-25
- Annual census (N-CEN) — filed 2021-09-13
- Annual census (N-CEN) — filed 2020-09-11
Related Funds
Other 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.