Important risk disclosure

Please click here and read carefully the summary of the key features and risks specific to this fund stated in the offering document prepared by the relevant fund house before making any investment decision.

You should not rely solely on the information contained on this webpage to make investment decisions. You should read carefully and understand the relevant fund's offering documents before making any investment decision.

IE00BFM0NG98

Barings Global High Yield Bond Fund(IE00BFM0NG98)

Fixed income
High yield
Global
HKD Cash
Accumulating

Invest with

HKD Cash

Payout type

Accumulating

Risk rating

About this fund

Description

The Fund seeks to provide high current income generation and, where appropriate, capital appreciation by investing principally in a portfolio of high yield (i.e. sub-investment grade) fixed and floating rate corporate debt instruments, focusing prima...

Key information

Annual report

Key fact sheet

Prospectus

Factsheet

Our perspective

Why we think this fund is best-in-class

Product

Offers broad exposure to the global high yield bond market across the entire credit quality spectrum. Targets high current income and capital appreciation by investing in sub-investment grade fixed income instruments.

People

Managed by an experienced five-person portfolio management team with an average of over 25 years of industry experience. Supported by a large, well-resourced credit research team that provides deep fundamental analysis. Benefits from the firm's broader special situations and restructuring capabilities, which provide the resource depth to confidently underwrite lower-rated credits.

Performance

Targets consistent outperformance relative to the benchmark over the long term. Historical performance patterns suggest potential underperformance during risk-off periods due to higher exposure to lower-rated credits. Aims to capitalize on volatility to recalibrate exposures and capture upside during market recoveries.

Process

Employs a rigorous bottom-up credit selection process as the primary driver of alpha generation. Maintains a structural willingness to hold lower-rated credits (CCC and below) where mispricing opportunities are often more prevalent.

Cost

Endowus offers retail share class with 100% trailer fee rebated back to Endowus investors to achieve lower cost of access.

How it fits in a portfolio

Serves as an active satellite allocation for investors seeking specific exposure to the global high yield market. Complements other high yield funds by providing differentiated exposure to lower-rated credits (CCC and below), an area often underweighted by peers. Provides a potential diversifying source of income for investors willing to accept credit and duration risk.

Invest in this fund

Performance

Returns

NAV

Shows the total return of this accumulating fund, which includes dividends reinvested.

Total returns

Cumulative

Annualised

All Time

33.93%

YTD

0.57%

1 month

-1.06%

6 month

1.80%

1 year

7.53%

3 year

27.03%

5 year

22.73%

As of Mar 2026

Distributions

This is an accumulating fund, so dividends are re-invested at the fund level.

Yield

7.51%As of Feb 2025

Risk metrics

Max drawdown

-15.55%As of Mar 2026

Volatility

8.43%As of Mar 2026

Calendar returns

Year	Total	Jan	Feb	Mar	Apr	May	Jun	Jul	Aug	Sep	Oct	Nov	Dec
2026	-	1.3%	0.4%	-1.1%	-	-	-	-	-	-	-	-	-
2025	8.1%	1.5%	0.6%	-1.0%	-0.6%	2.9%	1.7%	0.8%	0.3%	0.5%	0.0%	0.5%	0.7%
2024	8.3%	0.8%	0.7%	1.0%	-0.6%	1.2%	0.6%	1.7%	1.0%	1.0%	-0.2%	1.2%	-0.5%
2023	12.9%	4.2%	-0.4%	0.8%	0.7%	-1.1%	1.6%	0.9%	0.9%	-1.0%	-1.4%	4.0%	3.3%
2022	-11.6%	-2.1%	-1.1%	-0.2%	-3.0%	-1.2%	-7.1%	5.0%	-1.0%	-3.7%	2.1%	1.2%	-0.6%
Load more		5 of 8

Top Exposures

Holdings

Regions

Sectors

BlackRock ICS USD Liquidity Core Inc	2.59%
1261229 Bc Ltd. 0.1% (2032-04-15 Maturity)	1.44%
Barings USD Liquidity F USD Dis	1.03%
Time Warner Cable Enterprises LLC 0.08375% (2033-07-15 Maturity)	0.94%
Directv Financing LLC/Directv Financing Co-Obligor Inc. 0.05875% (2027-08-15 Maturity)	0.92%
EchoStar Corp. 0.1075% (2029-11-30 Maturity)	0.92%
Team Health Holdings Inc. 0.135% (2028-06-30 Maturity)	0.86%
Radiology Partners Inc. 0.09781% (2030-02-15 Maturity)	0.81%
Clydesdale Acquisition Holdings Inc. 0.0875% (2030-04-15 Maturity)	0.79%
Alpha Generation LLC 0.0675% (2032-10-15 Maturity)	0.73%
Carvana Co 0.09% (2031-06-01 Maturity)	0.70%
CCO Holdings, LLC/ CCO Holdings Capital Corp. 0.05% (2028-02-01 Maturity)	0.70%
LifePoint Health, Inc 0.1% (2032-06-01 Maturity)	0.68%
Northriver Midstream Finance LP 0.0675% (2032-07-15 Maturity)	0.68%
LifePoint Health, Inc 0.11% (2030-10-15 Maturity)	0.67%

Top exposures represent up to 15 of the fund's largest exposures for each category. Allocation percentages may not sum up to 100% and can include negative values due to rounding or trading activities by the underlying fund managers, including short positions.

Fund fees

1.32%0.64% p.a.

Save 51%

Fund facts

ISIN

IE00BFM0NG98

Fund house

Barings

Fund size

HK$34.6B

As of 23 Apr 2026

Fund inception date

27 Jun 2019

Fund class currency

HKD

Oldest share inception date

14 Oct 2015

Pricing frequency

Daily

Warning statements

All investments involve risks (including the possibility of loss of the capital invested) and the price of fund units may go up as well as down.
Past performance is not indicative of future performance.
Although this fund has been authorised by the Hong Kong Securities and Futures Commission (“SFC”), it does not imply an official recommendation or endorsement by the SFC nor does it guarantee the commercial merits of the fund or its performance.
If you are in any doubt, you should clarify with us or seek independent professional advice.

Risk Warnings Investment involves risk. Past performance is not an indicator nor a guarantee of future performance or returns. Projected performance or returns are not guaranteed to materialise. The value of investments and the income from them can go down as well as up, and you may not get the full amount you invested. Rates of exchange may cause the value of investments to go up or down. Individual stock performance does not represent the return of a fund.

The value of the fund can be volatile and can go down substantially within a short period of time. It is possible that a certain amount or all of your investment could be lost.

Generic risk warnings relating to collective investment schemes

Funds are not a bank deposit and not capital guaranteed, and is subject to investment risks, including the possible loss of the principal amount invested. There is no assurance that a fund will have sufficient liquidity to meet redemption requests and that the fund's investment objectives and strategies will be achieved.

The funds' investment may involve substantial market, currency, volatility, liquidity, regulatory and political risks. Some funds may use derivatives, whether for hedging or for investment purposes. The risks associated with derivatives include counterparty/credit, liquidity, valuation, volatility and market risks. The fund's volatility may increase or decrease from its derivative usage and such fund may suffer losses from its derivative usage. Do not invest in these funds unless you fully understand and are willing to assume the risks associated with them.

Opinions Any forward-looking statements, prediction, projection or forecast on the economy, stock market, bond market or economic trends of the markets contained in this material are subject to market influences and contingent upon matters outside the control of Endowus HK Limited (“Endowus”) and therefore may not be realised in the future. Further, any opinion or estimate is made on a general basis and subject to change without notice. In presenting the information above, none of Endowus HK Limited, its affiliates, directors, employees, representatives or agents have given any consideration to, nor have made any investigation of the objective, financial situation or particular need of any user, reader, any specific person or group of persons. Therefore, no representation is made as to the completeness and adequacy of the information to make an informed decision. You should carefully consider (i) whether any investment views and products/ services are appropriate in view of your investment experience, objectives, financial resources and relevant circumstances. You may also wish to seek financial advice through a financial advisor or the Endowus platform and independent legal, accounting, regulatory or tax advice, as appropriate.

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