Barings Participation Invs:MPV

    Manage Alerts

    Overview

    As of 7/26/2021. NAV as of 3/31/2021.

     Share
    Price
    NAVPremium/
    Discount
    Current$13.74$14.18-2.29%
    52 Wk Avg$12.27$13.46-8.95%
    52 Wk High$13.99$14.18-1.14%
    52 Wk Low$10.22$12.60-23.45%
    Regular Distribution TypeIncome Only
    Distribution Rate5.82%
    Distribution Amount$0.2000
    Distribution FrequencyQuarterly
    Past performance is no guarantee of future results.

    Basic Information

    Investment Objective

    To maximise total return by providing a high level of current income, the potential for growth of income and capital appreciation. Its principal investments are privately placed, below-investment grade, long-term corporate debt obligations purchased directly from their issuers, which tend to be small companies. More than half of the investments would include equity features such as warrants, conversion rights that provide the fund with the opportunity to realize capital gains. It will also invest in publicly traded debt securities with an emphasis on those with equity features, and convertible preferred shares and marketable equity securities. It may temporarily invest in high quality, readily marketable securities.

    Capital Structure

    As of 7/26/2021

    Total Investment Exposure:$163.212M
    Total Common Assets:$148.212M
    Common Shares Outstanding:10,601,700
    Leverage

    As of 7/23/2021

    Preferred Share Assets:
    Total Debt (USD): $15.000M
    Regulatory Leverage (USD): $15.000M
    Effective Leverage (USD): $15.000M
    Effective Leverage (%): 9.19%
    Annual Expense Ratios

    As of 12/31/2020

      Per Common Share
    Management Fees0.89%
    Other Expenses:0.14%
    Baseline Expense: N/A
    Interest Expense:0.43%
    Total: 1.47%
    Fund Management

    Fund Sponsor
    MassMutual

    Portfolio Managers
    Raymond Abbott

    Basics
    Category: Fixed Income - Taxable-High Yield
    Ticker: MPV
    NAV Ticker: XMPVX
    Average Daily Volume (shares): 17,641
    Average Daily Volume (USD): $0.214M
    Inception Date: 10/6/1988
    Inception Share Price: $10.00
    Inception NAV: $9.30
    Tender Offer: No
    Term: No
    Fiscal Year End: December 31
    Third Party Links & Reports

    Distributions

    As of 7/26/2021

    Past performance is no guarantee of future results.
    Distribution History

    Enter declared start and end dates to display distribution history below. Income, Long Gain, Short Gain and ROC breakdowns will only be shown for the past year.

    Declared Date Payable Date Ex Date Distrib Amount Income Long Gain Short Gain ROC

    *Indicates a Special Distribution: A distribution disbursed in addition to the normal distributions paid out by the company.

    Key Information Regarding Distributions
    Avg. Earnings Per Share:
    As of 12/31/2020
    $0.3935
    Annualized Distribution Rate on NAV:
    As of 7/26/2021
    5.72%
    Total Return on NAV (12 months):
    As of 7/26/2021
    16.02%
    Avg. Portfolio Coupon:
    As of 7/26/2021
    7.59%
    Total % Portfolio Effectively Leveraged:
    As of 7/26/2021
    9.19%

    Pricing Information

    Premium/Discount Information
    Past performance is no guarantee of future results.
    Premium/Discount Information

    As of 7/26/2021

    PeriodAvg Discount
    6 Month-6.30%
    1 Year-8.95%
    3 Year4.77%
    5 Year5.68%
    Z-Score

    As of 7/26/2021

    PeriodZStat
    3 Month0.90
    6 Month1.19
    1 Year1.34
    Pricing History
    Date NAV Premium / Discount

    Performance

    Calendar Year Total Returns

    As of 6/30/2021
    Category: Morningstar US CEF High Yield

    Past 20 Years

    Return YearPriceNAVCategory - PriceCategory - NAV
    YTD17.20%4.26%13.39%5.21%
    2020-21.03%4.82%1.13%3.11%
    201914.81%13.34%21.79%13.91%
    201815.11%0.52%-5.54%-2.01%
    20177.34%14.40%9.77%9.23%
    201611.77%8.85%19.94%16.22%
    201512.83%6.26%-4.93%-4.43%
    201410.40%11.82%2.04%2.36%
    20130.42%11.14%2.61%9.80%
    2012-5.07%15.33%16.41%20.47%
    201124.07%10.84%11.14%4.54%
    201023.04%24.54%19.84%18.51%
    200947.30%8.26%72.15%54.64%
    2008-24.88%-3.46%  
    2007-1.83%18.03%  
    200613.70%3.43%  
    200513.90%15.07%  
    200425.34%35.63%  
    200336.28%14.91%  
    200213.26%5.69%  
    2001-8.37%3.60%  
    Past performance is no guarantee of future results.
    Annualized Total Returns

    Returns for periods less than one year are cumulative rather than annualized

    As of 6/30/2021
    Category: Morningstar US CEF High Yield

    Past performance is no guarantee of future results.

    Portfolio Characteristics

    Portfolio Characteristics
    Average Coupon:
    As of 3/31/2021
    7.59%
    Number of Holdings:
    As of 3/31/2021
    265
    Annual Portfolio Turnover:
    As of 12/31/2020
    34.00%
    Average Bond Price:
    As of 3/31/2021
    $101.36
    Asset Allocation

    As of 3/31/2021 reported by Fund Sponsor

    Top Sectors

    As of 3/31/2021 reported by Fund Sponsor

    Sector%Portfolio
    Corporate (Super Sector)91.51%
    Bank Loan68.57%
    Corporate Bond20.61%
    Cash Equivalents (Super Sector)8.85%
    Cash Equivalents8.85%
    Preferred Stock1.98%
    Convertible0.35%
    Top Holdings

    As of 3/31/2021 reported by Fund Sponsor

    HoldingValue% Portfolio
    Madison Iaq Holdings Ii Llc Units$3.05M2.03%
    Srs Equity Holdings 2 Llc Unit Series A$2.61M1.74%
    UROGPO 2020 TERM LOAN$2.47M1.64%
    HOLLEY PURCHASER INC. TERM LOAN B$2.42M1.61%
    GRAPHPAD SOFTWARE INC. UNITRANCHE TERM LOAN$2.42M1.61%
    1WORLDSYNC INC. TERM LOAN$2.37M1.58%
    BDP INTERNATIONAL INC. TERM LOAN$2.37M1.57%
    TRYSTAR INC. TERM LOAN$2.27M1.51%
    Asset Offset$1.98M1.31%
    Other Liability$-15.77M-10.48%
    Maturity Breakdown

    As of 3/31/2021 reported by Fund Sponsor

    Country Allocation

    As of 3/31/2021 reported by Fund Sponsor

    Country% Portfolio
    United States - Fixed Income87.46%
    United States - Equity2.25%
    Others - Fixed Income0.60%
    France - Fixed Income0.45%
    Netherlands - Fixed Income0.34%
    United Kingdom - Fixed Income0.33%
    Canada - Equity0.15%

    Closed-end fund historical distribution sources have included net investment income, realized gains, and return of capital. For more detailed information on the distributions of a specific fund, please visit the sponsor's website.

    NOTES:

    Distribution type sourced from Morningstar. For specific information about a fund's distribution sources, visit the fund sponsor's website.

    The following information applies to closed-end funds in general: Fund shares are not guaranteed or endorsed by any bank or other insured depository institution, and are not federally insured by the Federal Deposit Insurance Corporation. Shares of closed-end funds are subject to investment risks, including the possible loss of principal invested. There can be no assurance that fund objectives will be achieved. Closed-end funds frequently trade at a discount to their net asset value. NAV returns are net of fund expenses, and assume reinvestment of distributions.

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