Hastings High Yield Fund (HHY)

Shares / Stock Code

HHY

Stock Exchange / Sharemarket

ax

Hastings High Yield Fund (HHY) is an investment vehicle managed by Hastings Funds Management. It aims to provide investors with a regular source of income from a portfolio of high-yield securities in the form of loans and hybrid securities sourced from infrastructure and privatisation assets, private equity markets, acquisitions, financial restructures and other leveraged finance transactions.

The securities of HHY have been sourced from transactions associated with infrastructure and privatization, private equity, acquisitions and financial restructures, and other leveraged finance transactions. As of June 30, 2009, Hastings High Yield Fund’s investments in securities included AB Ports, Arqiva/NGW, BAA, BBI SPARCS, Cory Environmental, DCA Group and Eircom.

HHY provides investors with exposure to high-yield securities, which, although more risky than other forms of fixed interest investments (such as government bonds and rated corporate debt), offer superior cash yields. HHY's point of differentiation from other high-yield funds is its focus on un-rated securities.

HHY's customers include general investors and fund managers. Competitors include other listed and unlisted high yield funds, listed hybrid debt instruments and other listed investments companies and trusts.

Hastings High Yield Fund History

Hastings has been in operation since 1994 as a specialist alternative asset manager. Hastings has been fully owned by Westpac since 2005. Hastings operates the listed Hastings High Yield Fund (HHY) and the Hastings Yield Fund (unlisted). Hastings manages over 10 funds encompassing infrastructure, Timber, Private Equity and High Yield. Total funds under management exceed $4.9B. HHY was listed on the ASX on 11 April 2005.