Bentham Global Income Fund added to Colonial First State First Choice platform
Richard Quin
Bentham Asset Management, a leading specialist global fixed interest and credit investment manager, has announced that addition of the Bentham Global Income Fund to the Colonial First State First Choice platform.
The Bentham Global Income Fund, which currently manages over $2.7 billion* in funds under management (FUM), invests in global credit markets across the capital structure with a focus on capital preservation and regular income.
Bentham Principal and CIO, Richard Quin, who has been the Fund’s Portfolio Manager since he established it 20 years ago, says the Colonial First State First Choice platform is an important addition to its investor offering.
“The thinking behind the Fund was to give local investors institutional quality, high-yielding credit opportunities that was then lacking in the market. For a minimum entry cost of $10,000, we provide access to offshore credit markets that offer more competitive risk yields and income diversity, an offering now available to financial advisers using the Colonial First State First Choice platform.
“The Fund has delivered what it set out to do – providing a reliable source of retirement income to those who need it the most,” says Quin.
The actively managed Fund, which includes senior secured and unsecured debt, subordinated or hybrid securities, loans, structured credit and asset-based securities, targets investors who want regular income above the cash rate in an asset class that has about half the volatility of equity markets, notes Quin.
Since inception in September 2003, the Fund has delivered a total return (after fees) of 6.90% pa[1], outperforming the benchmark (50% Bloomberg AusBond Bank Bill Index, 50% Bloomberg AusBond Composite Index) by 2.19% pa.
Quin adds: “Investment markets have been strong lately, boosted by growing optimism that central banks are near the end of the rate hike cycle and inflation has peaked. Economic data remains resilient in the face of growing pressures, while falling energy prices and signs of moderating wage growth have eased concerns over inflation. We continue to believe the long and variable lag of the fast-paced rake hikes has more the play out.”
The Fund was recently awarded Global Fixed Income Fund of the year by Lonsec Research.
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