Lonsdale Securitieshas given a recommended rating to the latest retail offering from Macquarie Direct Investment (MDI), the Macquarie Private Equity Trust II (MPET II), following a review of the product.
The unit trust is looking to raise up to $150 million for private equity investment into a range of Australian companies, and has a 10 year plus time frame.
MPET II has been classified as a managed investment scheme under the Corporations Act, withMacquarie Investment Management Limited(MIML) the responsible entity.
MDI is an active manager and the trust takes a bottom up approach to choosing investments, Lonsec says. It has been given a high risk weighting by Lonsec.
“The underlying volatility of private equity returns is high and the risk profile, in line with the potential for higher than average returns, is also high,” Lonsec says.
Lonsec says its recommendation of the trust is based on the fact that it is a “quality private equity offering from a large and established industry player”.
