Metrics launches LIT on ASX
Metrics Credit Partners has launched its new listed investment trust (LIT), the MCP Income Opportunities Trust (MOT), on the Australian Securities Exchange.
The MOT’s investment objective is to provide quarterly cash income, preserve investor capital and manage investment risks, while seeking to provide potential for upside gains through investments in private credit.
The LIT would also seek to provide investors exposure to a portfolio of private credit investments, and would target a cash income distribution of seven per cent per annum, with a total target return of eight to 10 per cent per annum net of fees.
Perpetual Limited’s wholly own subsidiary, The Trust Company, has been made the responsible entity of the fund, and Perpetual Trust Services Limited is the custodian of the LIT.
Metrics’ managing partner, Andrew Lockhart, said he believed there was strong demand for an investment product that could deliver quarterly cash income, with potential to participate in upside gains, without the volatility of listed equity markets.
“MOT offers exposure to a range of borrowers and private credit investments that are not typically available to retail investors, while keeping a core focus on managing investment risks,” he said.
The offer opened on 12 March, with a maximum size of $300 million, which Lockhart said was a deliberate cap to ensure capital was sensibly deployed, and to avoid a cash drag.
AUTHOR
Anastasia Santoreneos
Recommended for you
Ten Cap has announced it will launch its first active ETF on the ASX later this month, expanding retail access to its flagship Australian equities strategy.
Flows into cash and fixed income ETFs rose by 46 per cent in October with investors particularly demonstrating a preference for Australian credit ETFs as they move away from AT1 bank hybrids.
Having identified Australia as a growth market, J.P. Morgan Asset Management has collaborated with Betashares to offer two multi-asset managed portfolios on its Direct platform, the first funds on the platform from an external manager.
First Sentier has announced it will transition the Stewart Investors investment management responsibilities to its affiliate investment team in light of three senior portfolio manager exits.
