For investors in Singapore

High Yield Fund

A high-conviction active high-yield portfolio that focuses on taking the appropriate amount of risk throughout the credit cycle


USD 28.46
As of 2023/09/22

1-Day Change
USD 0.01 (0.04%)
As of 2023/09/22



The fund’s core US high yield strategy seeks strong, risk-adjusted results by investing in transformational balance sheet opportunities. Driven by a fundamentally based investment process, this dynamic risk-aware, approach seeks to temper the downside risks associated with the US high yield asset class over a full market cycle.

Note: You should not make investment decisions based solely on marketing materials. You should read the Prospectus and the Product Highlights Sheet of the Fund for more details of the investment risks and seek independent professional advice where appropriate.


  • High Conviction: We believe a high-conviction approach is essential to unlocking competitive excess returns and monitoring high-yield risk for our clients. We are focused on taking the appropriate amount of risk throughout the credit cycle by actively managing market exposure and portfolio composition.
  • Research Driven: Our analysts cover issuers across the credit-quality spectrum and capital structure, enabling a complete picture of fundamental credit risk. Analysts function as sector experts and risk managers alongside portfolio managers to identify potential outperformers.
  • Global Resources: This U.S. strategy benefits from our team of global credit experts. Instead of separate teams, we operate as one team globally looking at companies.


Tom Ross, CFA

Global Head of High Yield | Portfolio Manager

Industry since 2002. Joined Firm in 2002.

Brent Olson

Portfolio Manager

Industry since 1997. Joined Firm in 2017.

Seth Meyer, CFA

Head of Fixed Income Strategy | Portfolio Manager

Industry since 1998. Joined Firm in 2004.


Cumulative & Annualised Performance (%)
As of 2023/08/31
A2 USD (Net) A2 USD (With Sales Charge)* Bloomberg U.S. Corporate High Yield Bond TR
  Cumulative Annualised
1MO 3MO 6MO YTD 1YR 3YR 5YR 10YR Since Inception
A2 USD (Net) -0.45 2.63 3.10 5.66 3.40 -0.81 1.11 2.29 4.40
A2 USD (With Sales Charge)* -5.42 -2.51 -2.05 0.38 -1.77 -2.49 0.08 1.76 4.18
Bloomberg U.S. Corporate High Yield Bond TR 0.28 3.36 4.54 7.13 7.16 1.81 3.32 4.47 6.18
Initial Charge 5.00%
Annual Charge 1.00%
Ongoing Charge
(As of 2023/06/30)


Top Holdings (As of 2023/08/31)
Carnival Corp, 6.00%, 05/01/29 2.51
Medline Borrower LP, 5.25%, 10/01/29 1.76
Iron Mountain Inc, 5.25%, 07/15/30 1.53
Seagate HDD Cayman, 9.62%, 12/01/32 1.53
FTAI Infra Escrow Holdings LLC, 10.50%, 06/01/27 1.45
Cargo Aircraft Management Inc, 4.75%, 02/01/28 1.44
Standard Industries Inc/NJ, 3.38%, 01/15/31 1.38
Organon & Co / Organon Foreign Debt Co-Issuer BV, 5.12%, 04/30/31 1.37
ARD Finance SA, 6.50%, 06/30/27 1.35
TransDigm Inc, 4.88%, 05/01/29 1.22
Total 15.54