BrandywineGLOBAL - High Yield Fund
BGHIX
NASDAQ- -
USD
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Capital Structure
FRC
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in mil. unless spec.Working Capital
FRC
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in mil. unless spec.Growth Rates
FRC
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in mil. unless spec.Quarterly Revenue
FRC
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in mil. unless spec.Quarterly Earnings Per Share
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in mil. unless spec.Quarterly Dividends Per Share
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in mil. unless spec.- Sector
- Financial Services
- Industry
- Asset Management - Global
- Address
- New York, NY 10041 New York NY United States of America 10041
- IPO Date
- Dec 4, 2014
- CIK
- 0001520738
- Website
- franklintempleton.com
- Similar Companies
- Business
- BrandywineGLOBAL - High Yield Fund (BGHIX) is an actively managed open-end mutual fund that seeks high current income and capital appreciation by investing primarily in high yield (below-investment-grade) corporate bonds; it also allocates to bank loans, convertibles, non-U.S. bonds, cash equivalents and other fixed income securities across sectors such as financial services, leisure, energy, basic industry and retail. The fund employs a nimble, full-cycle approach emphasizing long-term outcomes, downside management, alpha generation and tactical trading in the secondary market for execution edge, with a portfolio of approximately 223 holdings, weighted average coupon of 6.84%, effective duration of 2.48 years and credit quality skewed toward BB (44.45%) and B (29.83%) ratings. Brandywine Global Investment Management, LLC, the fund's adviser and a specialist fixed income manager founded in 1986 with headquarters in Philadelphia, Pennsylvania, offers this strategy as part of its broader lineup of differentiated fixed income, equity and alternative solutions; the firm manages $65 billion in assets under management as of September 30, 2025, with offices in Columbus, Singapore, London and Sydney, and became a wholly owned subsidiary of Legg Mason (now part of Franklin Resources, Inc./Franklin Templeton) in 1998. The Class I shares (BGHIX), launched December 31, 2015 with a minimum initial investment of $1 million, carry a net expense ratio of 0.65% and distribute income monthly, targeting institutional investors in the United States. In a significant strategic expansion, Brandywine Global acquired the high yield-focused U.S. corporate credit funds and team (including portfolio managers John McClain, William Zox and Jack Parker) from Diamond Hill Capital Management in 2021, with fund performance prior to that date reflecting the predecessor private fund managed equivalently by the acquired team; more recently, in July 2025, manager John McClain departed abruptly for another opportunity, prompting Morningstar to adjust the fund's People and Process ratings to Above Average while maintaining long-term appeal. The fund benchmarks against the ICE BofA US High Yield Index, maintains total net assets of $3.64 billion and continues to emphasize value-driven credit selection amid supportive credit market conditions.