Bentham Syndicated Loan is an Managed Funds investment product that is benchmarked against Global High Yield Credit Hdg Index and sits inside the Fixed Income - High Yield Credit Index. Think of a benchmark as a standard where investment performance can be measured. Typically, market indices like the ASX200 and market-segment stock indexes are used for this purpose. The Bentham Syndicated Loan has Assets Under Management of 2.96 BN with a management fee of 0.77%, a performance fee of 0.00% and a buy/sell spread fee of 0.84%.
The recent investment performance of the investment product shows that the Bentham Syndicated Loan has returned 1.02% in the last month. The previous three years have returned 4.47% annualised and 7.18% each year since inception, which is when the Bentham Syndicated Loan first started.
There are many ways that the risk of an investment product can be measured, and each measurement provides a different insight into the risk present. They can be used on their own or together to perform a risk assessment before investing, but when comparing investments, it is common to compare like for like risk measurements to determine which investment holds the most risk. Since Bentham Syndicated Loan first started, the Sharpe ratio is NA with an annualised volatility of 7.18%. The maximum drawdown of the investment product in the last 12 months is -0.06% and -29.73% since inception. The maximum drawdown is defined as the high-to-low decline of an investment during a particular time period.
Relative performance is what an asset achieves over a period of time compared to similar investments or its peers. Relative return is a measure of the asset's performance compared to the return to the other investment. The Bentham Syndicated Loan has a 12-month excess return when compared to the Fixed Income - High Yield Credit Index of 0.83% and -0.58% since inception.
Alpha is an investing term used to measure an investment's outperformance relative to a market benchmark or peer investment. Alpha describes the excess return generated when compared to peer investment. Bentham Syndicated Loan has produced Alpha over the Fixed Income - High Yield Credit Index of NA% in the last 12 months and NA% since inception.
For a full list of investment products in the Fixed Income - High Yield Credit Index category, you can click here for the Peer Investment Report.
Bentham Syndicated Loan has a correlation coefficient of 0.79 and a beta of 0.43 when compared to the Fixed Income - High Yield Credit Index. Correlation measures how similarly two investments move in relation to one another. This establishes a 'correlation coefficient', which has a value between -1.0 and +1.0. A 100% correlation between two investments means that the correlation coefficient is +1. Beta in investments measures how much the price moves relative to the broader market over a period of time. If the investment moves more than the broader market, it has a beta above 1.0. If it moves less than the broader market, then the beta is less than 1.0. Investments with a high beta tend to carry more risk but have the potential to deliver higher returns.
For a full quantitative report on Bentham Syndicated Loan and its peer investments, you can click here for the Peer Investment Report.
For a full quantitative report on Bentham Syndicated Loan compared to the Global High Yield Credit Hdg Index, you can click here.
To sort and compare the Bentham Syndicated Loan financial metrics, please refer to the table above.
This investment product is in the process of being independently verified by SMSF Mate. Once we have verified the investment product, you will be able to find more information here.
If you or your self managed super fund would like to invest in the Bentham Syndicated Loan please contact Level 2, 5 Martin Place, Sydney NSW 2000 via phone +61 133 566 or via email info@challenger.com.au.
If you would like to get in contact with the Bentham Syndicated Loan manager, please call +61 133 566.
SMSF Mate does not receive commissions or kickbacks from the Bentham Syndicated Loan. All data and commentary for this fund is provided free of charge for our readers general information.
The Bentham Syndicated Loan Fund had a total return (after fees) of 1.27% in the month of August, outperforming the benchmark (Credit Suisse Leveraged Loan Index hedged into AUD) by 0.18%. On a before fees basis the fund returned 1.34% for the month, outperforming the benchmark by 0.25%.
The Fund’s three largest industry exposures are 15.0% in Electronics, 10.3% in Healthcare, Education and Childcare and 9.0% in Diversified/Conglomerate Service. The Fund’s top three company exposures are 1.3% in Polaris Newco, 1.1% in Hub International and 1.1% in Hyland Software. During the month, the Fund increased its exposure to Learning Care Group, AQA Acquisition and Tecta America; with decreased exposures to Flexera Software, CCI Buyer and Packaging Coordinators.
The Bentham Syndicated Loan Fund had a total return (after fees) of 1.37% in the month of July, outperforming the benchmark (Credit Suisse Leveraged Loan Index hedged into AUD) by 0.17%. On a before fees basis the fund returned 1.39% for the month, outperforming the benchmark by 0.19%.
At month end, the Fund had a yield to maturity of 10.11% and running yield of 8.56%, with the credit yield spread decreasing by 26 bps to 564 bps during the month. The Fund had an interest rate duration of 0.54 years and credit duration of 2.87 years.
The Fund’s three largest industry exposures are 15.3% in Electronics, 10.9% in Healthcare, Education and Childcare and 8.7% in Diversified/Conglomerate Service. The Fund’s top three company exposures are 1.4% in Polaris Newco, 1.0% in Hub International and 1.0% in Hyland Software. During the month, the Fund increased its exposure to Genesee and Wyoming, Ziggo Financing Partnership and AQ Carver Buyer; with decreased exposures to Hornblower Sub, Newfold Digital and Anticimex Global.
The Bentham Syndicated Loan Fund had a total return (after fees) of 1.80% in the month of June, underperforming the benchmark (Credit Suisse Leveraged Loan Index hedged into AUD) by 0.26%. On a before fees basis the fund returned 1.84% for the month, underperforming the benchmark by 0.23%.
At month end, the Fund had a yield to maturity of 10.42% and running yield of 8.00%, with the credit yield spread decreasing by 25 bps to 590 bps during the month. The Fund had an interest rate duration of 0.51 years and credit duration of 2.84 years.
The Bentham Syndicated Loan Fund had a total return (after fees) of -0.14% in the month of May, outperforming the benchmark (Credit Suisse Leveraged Loan Index hedged into AUD) by 0.07%. On a before fees basis the fund returned -0.07% for the month, outperforming the benchmark by 0.14%.
At month end, the Fund had a yield to maturity of 10.35% and running yield of 7.99%, with the credit yield spread increasing by 10 bps to 616 bps during the month. The Fund had an interest rate duration of 0.51 years and credit duration of 2.78 years.
The Fund’s three largest industry exposures are 15.7% in Electronics, 10.7% in Healthcare, Education and Childcare and 8.4% in Diversified/Conglomerate Service. The Fund’s top three company exposures are 1.3% in Polaris Newco, 1.2% in Hub International and 1.1% in Hyland Software. During the month, the Fund increased its exposure to Ufc, Nouryon USA and VS Buyer; with decreased exposures to Diaverum, Irb and Jazz Pharmaceuticals.
The Bentham Syndicated Loan Fund had a total return (after fees) of 1.43% in the month of April, outperforming the benchmark (Credit Suisse Leveraged Loan Index hedged into AUD) by 0.56%. On a before fees basis the fund returned 1.53% for the month, outperforming the benchmark by 0.66%.
At month end, the Fund had a yield to maturity of 9.88% and running yield of 7.80%, with the credit yield spread increasing by 6 bps to 606 bps during the month. The Fund had an interest rate duration of 0.47 years and credit duration of 2.82 years.
The Fund’s three largest industry exposures are 14.7% in Electronics, 11.6% in Healthcare, Education and Childcare and 9.4% in Diversified/Conglomerate Service. The Fund’s top three company exposures are 1.4% in Polaris Newco, 1.1% in Hub International and 1.0% in Hornblower. During the month, the Fund increased its exposure to Garrett Motion, Topgolf Callaway Brands and Clarios Global; with decreased exposures to Polaris Newco, Peraton and Quest Software US.
At month end, the Fund had a yield to maturity of 9.90% and running yield of 7.61%, with the credit yield spread decreasing by 9 bps to 600 bps during the month. The Fund had an interest rate duration of 0.46 years and credit duration of 2.79 years.
The Fund’s three largest industry exposures are 14.4% in Electronics, 11.2% in Healthcare, Education and Childcare and 9.3% in Diversified/Conglomerate Service. The Fund’s top three company exposures are 1.5% in Polaris Newco, 1.0% in ABG Intermediate Holdings and 1.0% in Hornblower. During the month, the Fund increased its exposure to ABG Intermediate Holdings, AIP RD Buyer and Griffon; with decreased exposures to RealPage, Kindercare and CommerceHub.
The Bentham Syndicated Loan Fund had a total return (after fees) of 2.21% in the month of January, underperforming the benchmark (Credit Suisse Leveraged Loan Index hedged into AUD) by 0.14%. On a before fees basis the fund returned 2.28% for the month, underperforming the benchmark by 0.07%.
At month end, the Fund had a yield to maturity of 9.91% and running yield of 7.38%, with the credit yield spread decreasing by 44 bps to 571 bps during the month. The Fund had an interest rate duration of 0.44 years and credit duration of 2.93 years.
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