Important risk disclosure

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IE00BFM0L764
Barings Global Senior Secured Bond Fund AUD-Hedged

Fixed income
High yield
Global
AUD Cash
Accumulating

Invest with

AUD 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 primarily in a portfolio of senior secured high yield (i.e. sub-investment grade) corporate debt instruments which are listed or traded...

Key information

Annual report

Key fact sheet

Prospectus

Factsheet

Our perspective

Why we think this fund is best-in-class

Product

Exposure to the global senior secured bond market, which is a sizable sub-component of the broader global high yield bond asset class. This sub-asset class resides at the top of a company's capital structure and benefits from security interests in various firm assets; however, the market seems to under-appreciate this and therefore creating mispricing opportunities for active managers like Barings.

People

Managed by an experienced 6-man PM team with an average industry experience of more than 22 years, supported by a large and resourced credit research team. Barings's expertise and scale also allows them to 1) access primary market opportunities 2) have special situation team to evaluate distressed credit and participate in restructuring 3) have more exposure to lower rated credits which requires strong credit research capability.

Performance

Outperformed the benchmark since inception in 2013 and delivered a higher sharpe ratio than the benchmark. The Fund can underperform during certain risk-off periods due to its preference to lower-rated credits. However, these periods also present opportunities for the Fund to recalibrate its exposure.

Process

Strong bottom-up credit selection process, a key pillar to its success. Because of this, the Fund can take advantage of market volatility and tap into the lower rated credits where mispricing opportunities are more.

Cost

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

How it fits in a portfolio

Investors who wish to access the relatively less risky part of the global high yield market could consider allocating to this Fund. The Fund could also complement other high yield funds well. Generally a traditional global high yield fund would not have a meaningful allocation to the senior secured part of the capital structure. The Fund may provide a diversifying source of income for income-seeking investors who do not already have an allocation to the senior secured market. The Fund, however, is subject to credit and duration risk and can experience heightened volatility in particular during risk-off environments. It is advisable to diversify the exposure with allocation to other asset classes after understanding one's risk tolerance and investment objective.

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

29.82%

YTD

0.37%

1 month

0.37%

6 month

2.60%

1 year

5.88%

3 year

22.69%

5 year

17.35%

As of Jan 2026

Distributions

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

Risk metrics

Max drawdown

-13.94%As of Jan 2026

Volatility

7.10%As of Jan 2026

Calendar returns

Year	Total	Jan	Feb	Mar	Apr	May	Jun	Jul	Aug	Sep	Oct	Nov	Dec
2026	-	0.4%	-	-	-	-	-	-	-	-	-	-	-
2025	6.4%	0.9%	0.6%	-1.0%	0.3%	1.4%	1.1%	0.7%	0.7%	0.5%	0.2%	0.1%	0.5%
2024	6.8%	0.3%	0.4%	0.5%	-0.2%	0.8%	0.6%	1.3%	1.0%	1.1%	-0.1%	0.9%	0.0%
2023	10.9%	3.1%	-0.2%	0.1%	0.6%	-0.7%	1.2%	1.1%	0.5%	-0.9%	-1.0%	3.7%	3.1%
2022	-11.1%	-1.6%	-1.2%	-0.4%	-2.7%	-1.6%	-6.6%	4.3%	-1.0%	-3.7%	1.9%	2.2%	-0.8%
Load more		5 of 9

Subscription details

Initial investment

Minimum A$10,000

Subsequent investment

Minimum

Top Exposures

Holdings

Regions

Sectors

BlackRock ICS USD Liquidity Core Inc	3.85%
Barings USD Liquidity F USD Dis	1.80%
Midwest Gaming Borrower LLC 0.04875% (2029-05-01 Maturity)	0.96%
Tenet Healthcare Corporation 0.055% (2032-11-15 Maturity)	0.94%
Windstream Services LLC / Windstream Escrow Finance Corp. 0.0825% (2031-10-01 Maturity)	0.93%
Lightning Power LLC 0.0725% (2032-08-15 Maturity)	0.93%
Aretec Escrow Issuer 2 Inc. 0.1% (2030-08-15 Maturity)	0.92%
Grifols S.A. 0.075% (2030-05-01 Maturity)	0.88%
IPD 3 B.V. 0.055% (2031-06-15 Maturity)	0.88%
Luna 2.5 S.a r.l. 0.055% (2032-07-01 Maturity)	0.86%
Live Nation Entertainment, Inc. 0.065% (2027-05-15 Maturity)	0.80%
PLT VII Finance S.a.r.l. 0.06% (2031-06-15 Maturity)	0.78%
CQP Holdco LP & Bip-V Chinook Holdco LLC 0.055% (2031-06-15 Maturity)	0.78%
VMED O2 UK Financing I PLC 0.05625% (2032-04-15 Maturity)	0.78%
ADT Security Corp. 0.05875% (2033-10-15 Maturity)	0.77%

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

1.33%0.65% p.a.

Save 51%

Fund facts

ISIN

IE00BFM0L764

Fund house

Barings

Fund size

A$3.4B

As of 30 Jan 2026

Fund inception date

01 Oct 2018

Fund class currency

AUD

Fund share class

G AUD Acc

Oldest share class ISIN

IE00B44PCR96

Oldest share inception date

16 Oct 2013

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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Product Risk Rating Please note that any product risk rating (the “PRR”) provided by us is an internal rating assigned based on our product risk assessment model, and is for your reference only. The PRR is subject to change from time to time. The PRR does not take into account your individual circumstances, objectives or needs and should not be regarded as advice or recommendation to purchase, hold or sell any fund or make any other investment decisions. Accordingly, you should not solely rely on the PRR in making your investment decision in the relevant Fund.

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IE00BFM0L764Barings Global Senior Secured Bond Fund AUD-Hedged

IE00BFM0L764
Barings Global Senior Secured Bond Fund AUD-Hedged