Perpetual Credit Income Trust (PCI) has commenced trading on the Australian Securities Exchange (ASX).
PCI said it would intend to provide individual investors with access to credit and fixed income assets they would not typically be able to source themselves.
This followed the completion of the initial public offering to investors which raised the maximum $440 million from the issue of 400 million units at a price of $1.10 per unit.
Michael Korber, portfolio manager, said PCI was the only ASX-listed trust to invest across the spectrum of credit and fixed income assets.
“We developed it to meet the needs of individual investors who want sustainable, regular monthly income,” Korber said.
“The advantage of credit and fixed income investments is they can typically provide a combination of low capital volatility, liquidity and regular income.”
“I’m delighted to be leading a team of highly experienced specialist credit and fixed income professionals who have a strong track record in this market and are well positioned to deploy the funds entrusted to us.”