Barrow Hanley Floating Rate Fund
Data updated: 2024-09-30
C000234970 — Barrow Hanley Floating Rate Fund. Short Corporate Bond · $98.79M AUM · 0.60% expense ratio. Holdings, fees, performance and SEC filings.
C000234970 Fund Overview
Barrow Hanley Floating Rate Fund is a US mutual fund managed by Advisors' Inner Circle Fund III, 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: Advisors' Inner Circle Fund III
- Category: Short Corporate Bond
- Assets under management: $98.79M
- 1-year return: 11.7%
- SEC CIK: 0001593547
- SEC series ID: S000075692
- Share class ID: C000234970
C000234970 Investment Objective and Strategy
Barrow Hanley Floating Rate Fund describes its objective and strategy as follows, from its latest prospectus filed with the SEC by Advisors' Inner Circle Fund III.
Investment objective
The Barrow Hanley Floating Rate Fund (the Floating Rate Fund or the Fund) seeks to maximize total return, consistent with preservation of capital.
Principal investment strategy
Under normal circumstances, the Fund invests at least 80% of its net assets, plus any borrowings for investment purposes, in floating rate instruments. This investment policy may be changed by the Fund upon 60 days prior written notice to shareholders. Floating rate instruments are debt instruments issued by companies or other entities with interest rates that reset periodically (typically, daily, monthly, quarterly, or semi-annually) in response to changes in the market rate of interest on which the interest rate is based. For purposes of this policy, any security or investment will be considered a floating rate instrument if it has a maturity of six months or less even if it pays a rate of interest rate that does not reset or adjust prior to maturity. Floating rate instruments include bank loans, high yield bonds, collateralized loan obligations (CLOs), structured notes and shares of investment companies that invest principally in floating rate instruments.
The Fund may invest in floating rate instruments of any credit quality. The Fund expects that many or all of the Funds investments will be rated below investment grade or unrated but of comparable credit quality. The Fund invests primarily in floating rate bank loans. Certain bank loans may be secured by collateral of the borrower and thus may be senior to most other securities issued by the borrower (e.g., common stock and other debt instruments) in the event of bankruptcy. Other bank loans may be unsecured obligations of the borrower. A bank loan may be acquired through the financial institution acting as agent for the lenders or from the borrower, as an assignment from another lender who holds a direct interest in the bank loan, or as a participation interest in another lenders portion of the bank loan.
The Funds portfolio typically will consist principally of floating rate instruments that Barrow, Hanley, Mewhinney & Strauss, LLC (the Sub-Adviser or Barrow Hanley), the Funds sub-adviser, believes are trading below their intrinsic value, selected through a fundamental research process designed to achieve a balanced goal for yield, principal preservation and capital appreciation. To construct the Funds portfolio, Barrow Hanley evaluates the macro environment and industry and sector trends to determine views from one to three years. This process is designed to enable Barrow Hanley to find specific sectors that offer opportunities for both industry and issuer mispricings given Barrow Hanleys expectations of changing fundamentals. From there, Barrow Hanley uses two primary methods of identifying potential investments.
The first involves independent sorting and research of documents filed with the Securities and Exchange Commission, as well as general and financial news, through the use of third-party research databases, news services and screening software. The second method relies on the professional relationships that Barrow Hanley has established with money managers, leveraged buyout and private equity investors, investment bankers, research analysts, consultants, securities traders, brokers, corporate managers, corporate attorneys and accountants including in depth discussions with Barrow Hanleys equity research professionals. This analysis is designed to lead Barrow Hanley to industries and debt issuers that offer opportunities for what Barrow Hanley believes are mispriced investments. In this regard, a mispriced investment refers primarily to traditional value metrics utilized by the Sub-Adviser, such as low price/earnings, price/book and high dividend yield relative to the markets in which the Fund may invest.
A security also may be mispriced due to a negative theme occurring within an overall industry and/or sector and where the Sub-Adviser believes an investment in the security creates opportunities for outperformance.
C000234970 Holdings
Top 10 holdings of Barrow Hanley Floating Rate Fund by percentage of net assets, from the fund's latest SEC N-PORT filing.
| Holding | % of net assets |
|---|---|
| Internet Brands | 2.57% |
| Tms/tube City 1/24 Cov-Lite | 2.20% |
| Imperial Bag & Paper/imperial Dade 1/24 Tl | 2.09% |
| Acrisure 6/24 B6 Cov-Lite Tlb | 1.66% |
| Magnite Inc. | 1.65% |
| Aqgen Island Holdings, Inc. | 1.58% |
| Global Iid Parent LLC | 1.54% |
| Schweitzer-Mauduit International, Inc. | 1.53% |
| Lifepoint Health, Inc. | 1.52% |
| The Chemours Company | 1.50% |
C000234970 Portfolio Allocation
Asset-class allocation of Barrow Hanley Floating Rate Fund by percentage of net assets, from the latest SEC N-PORT filing.
| Asset class | Allocation |
|---|---|
| Loans | 86.3% |
| Fixed Income | 10.4% |
| Securitized | 1.4% |
| Cash & Equivalents | 1.1% |
C000234970 Performance
Total returns for C000234970 (as of 2026-10-01), from SEC filings.
| Period | Total return |
|---|---|
| 1 year | 11.7% |
| 3 years (annualised) | 8.6% |
C000234970 Risk Information
Risk metrics for C000234970, derived from monthly returns in SEC filings.
- 1-year volatility (annualised): 2.0%
C000234970 Costs and Fees
C000234970 costs about $60 per $10,000 invested per year in fund expenses.
- Net expense ratio: 0.60%
- Gross expense ratio: 1.01%
- Portfolio turnover: 35%
- Brokerage commissions: 0.00 bps of average net assets (SEC N-CEN)
C000234970 Cashflows
Over the 12 months to 2024-07, Barrow Hanley Floating Rate Fund had net inflows of $16.53M, from monthly SEC N-PORT filings.
| Month | Net flow |
|---|---|
| 2024-07 | −$228.03K |
| 2024-06 | $4.42M |
| 2024-05 | −$38.85K |
| 2024-04 | −$1.50M |
| 2024-03 | $1.18M |
| 2024-02 | −$4.50M |
C000234970 Debt Constituents
Largest debt holdings of Barrow Hanley Floating Rate Fund by percentage of net assets, from the latest SEC N-PORT filing.
| Debt holding | % of net assets |
|---|---|
| Burford Capital Global Finance LLC | 1.28% |
| Ilfc E-Capital Trust I | 1.13% |
| Csc Holdings, LLC | 1.11% |
| The Chemours Company | 1.05% |
| Ilfc E-Capital Trust Ii | 0.94% |
| Rithm Capital Corp. | 0.88% |
| Aercap Global Aviation Trust | 0.80% |
| Cco Holdings, LLC | 0.62% |
| Graham Packaging Company Inc. | 0.49% |
| Ardagh Metal Packaging Finance Public Limited Company | 0.43% |
C000234970 Prospectus and SEC Filings
Official Barrow Hanley Floating Rate Fund filings on SEC EDGAR — prospectus, portfolio holdings and annual reports.
- Prospectus (485BPOS) — filed 2024-02-28
- Prospectus (485BPOS) — filed 2023-02-28
- Prospectus amendment (485APOS) — filed 2022-04-11
- Portfolio holdings (N-PORT) — filed 2024-09-30
- Portfolio holdings (N-PORT) — filed 2024-06-28
- Portfolio holdings (N-PORT) — filed 2024-03-28
- Annual census (N-CEN) — filed 2024-01-12
- Annual census (N-CEN) — filed 2023-01-13
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.