Lonsec Research upgrades ratings on Metrics Funds to ‘Highly Recommended’
Lonsec Research has upgraded their ratings on the Metrics Direct Income Fund and Metrics Master Income Trust as well as…
METRICS DIRECT
INCOME FUND
OVERVIEW
Metrics Direct Income Fund’s investment strategy is to provide investment exposure to Australian corporate loans, diversified by borrower, industry and credit quality – an investment space dominated by the banks. Through active portfolio management, Metrics seeks to balance investor requirements for return and capital preservation.
Target return
The Fund targets a return of the RBA Cash Rate plus 3.25% p.a. (currently 7.60% p.a. net of fees)* through the economic cycle and seeks to implement active strategies designed to balance delivery of the target return, while preserving investor capital.
*This is a target return and may not be achieved.
WHO IS THE METRICS DIRECT INCOME
FUND DESIGNED FOR?
Metrics Direct Income Fund may be suitable for investors looking for an investment that seeks to provide:
Monthly cash
income
Reduced capital
volatility
Attractive risk-adjusted returns from a portfolio diversified across >300 individual loans
Competitive fee structure & monthly liquidity where the fund is liquid
This information is of a general nature only and has been prepared without taking into account your objectives, financial situation or needs. If you require advice that takes into account your personal circumstances, you should consult a licensed or authorised financial adviser.
PERFORMANCE
0
%
Net Return since Incep (2)
0
%
Income distribution since inception
0
Individual loans
Fund Performance as at 31 October 2023
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NOTES: (1) Annualised (2) Inception date 01 July 2020
Past performance is not a reliable indicator of future performance. Returns greater than one year are annualized. Income payments depend on the success of the underlying investments and are at the responsible entity’s discretion.
Fund returns are net of fees and in AUD. Calculations are based on exit prices after taking into account ongoing fees and costs and assumes reinvestment of distributions via the Distribution Reinvestment Plan (DRP). No allowance has been made for entry fees or taxation.
RBA Cash Rate as at 04/10/2023 410 bps p.a.
Investment Updates
The Metrics Direct Income Fund monthly report will be released around the 10th of each month.
The October 2023 monthly report is now available.
| 1 mth | 3 mth | 6 mth | 1 yr | 2 yr(1) | Incep(2) | |
|---|---|---|---|---|---|---|
| Net Return (%) | 0.88 | 2.59 | 5.06 | 9.36 | 7.28 | 7.19 |
| RBA Cash Rate (%) | 0.35 | 1.04 | 2.06 | 3.73 | 2.27 | 1.41 |
| Distribution (%) | 0.82 | 2.46 | 4.86 | 9.31 | 7.38 | 6.16 |
| Spread to RBA (%) | 0.48 | 1.42 | 2.80 | 5.59 | 5.10 | 4.74 |
WHY INVEST IN METRICS DIRECT INCOME FUND
An alternative investment opportunity
The Australian corporate loan market represents a large and active segment of Australia’s corporate fixed income market which generally provides superior risk-adjusted returns compared with other fixed income investment opportunities.
As an experienced investment team that understands the various sources of income available from, and risks associated with, corporate loans, Metrics believes it is well placed to implement investment strategies and processes able to maximise returns from this asset class.
EDUCATION
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How to invest
The minimum initial investment for an investor is $1,000.
For an investment via platform, please refer to your IDPS operator’s requirements.
Before making an application for units in the Fund, please read the Product Disclosure Statement (PDS) and Additional Information Booklet and Target Market Determination (TMD).
| Platform Availability | |||
|---|---|---|---|
| AMP North | Australian Money Market (AMM) | Asgard | BT Panorama |
| CFS FirstWrap | Clearstream | Dash | HUB24 |
| IOOF eXpand | Macquarie Wrap | Mason Stevens | Netwealth |
| Powerwrap | Praemium | Xplore Wealth | |
Units in the Metrics Direct Income Fund are issued by Equity Trustees Limited AFSL 240975. Metrics Credit Partners Pty Ltd (Metrics) AFSL 416 146 is the manager of the Fund. Before making an investment decision in respect of the Fund, consider the PDS, TMD and whether the Fund is appropriate given your objectives, financial situation or needs.
RESEARCH RATINGS
The Fund has been independently rated by Foresight Analytics, Bond Adviser, Zenith Investment Partners, Lonsec and Independent Investment Research.
Note: You must be a financial advisor or wholesale investor to obtain the Zenith and Lonsec Research Reports.
Ratings are subject to Terms and Conditions which can be found here: Ts and Cs
Ratings are only one factor to be taken into account when making an investment decision.
Key Terms
| FUND | Metrics Direct Income Fund |
| TARGET RETURN | RBA Cash Rate plus 3.25% p.a. net of fees (currently 7.60% p.a.)* |
| DISTRIBUTIONS | The Fund intends to pay distributions monthly |
| MINIMUM APPLICATION AMOUNT | $1,000 |
| REDEMPTIONS | Generally monthly where the Fund is liquid. View redemption request cut-off dates. |
| MANAGEMENT COSTS | 0.58% p.a.** of the Funds NAV |
| INCEPTION DATE | 1 July 2020 |
| MANAGER | Metrics Credit Partners |
| RESPONSIBLE ENTITY | Equity Trustees Limited |
| UNIT REGISTRY | Automic Group |
| APIR CODE | EVO2608AU |
*This is a target return and may not be achieved.
**Excluding impact of performance fees.
**Excluding impact of performance fees.
FAQs
Here are some of our most frequently asked questions
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