Current Unit Price: (20 min. delayed price) ASX:MXT $2.00 0.00%
NAV as at COB: 23.02.20 $2.0086
Current Unit Price: (20 min. delayed price) ASX:MOT $2.04 0.49%
NAV as at COB: 23.02.20 $2.0211

Latest News

Metrics to cut performance fee to counter low rate environment

Metrics Credit Partners (Metrics) has announced plans to voluntarily waive its performance fee for the MCP Income Opportunities Trust (ASX:MOT), to prevent investor returns being impacted by current record low interest rates.

The trust’s current performance fee terms are based on achieving the Reserve Bank of Australia (RBA) cash rate plus 6% per annum. At the time of the trust’s launch this was equal to 7.5% per annum but given the subsequent drop in the RBA cash rate, the performance fee now applies once returns hit 6.75%.

Metrics Managing Partner, Andrew Lockhart said the group would increase the trust performance fee  hurdle back to the original 7.5%, helping to cut costs for investors.

“Since the initial launch of MOT, we have seen the Reserve Bank of Australia decrease the cash rate by 75 basis points to 0.75%,” he said.

“As a result of these rate cuts, Metrics is entitled to a performance fee this year. We have therefore elected to waive this fee to ensure investors keep more of the trust’s outperformance in their back pocket and restores the position for investors to what was originally intended when MOT was first listed on the ASX.”

MOT offers investors exposure to a range of borrowers and private credit instruments that are typically not available to retail investors. The trust listed on the ASX in April 2019 and recently changed its income distributions from quarterly to monthly.

Since inception, the MCP Income Opportunities Trust has delivered 7.22%, exceeding the target return of 7% a year.

“Metrics is about seeking to consistently deliver for all investors. We believe the decision to waive the performance fee for MOT, coupled with the recent change to monthly distributions, will make the trust an even more attractive proposition for investors seeking income in the current low-rate environment,” Mr Lockhart said.

ASX ANNOUNCEMENT – 21 January 2020

Current Unit Price: (20 min. delayed price) ASX:MXT $2.00 0.00%
NAV as at COB: 23.02.20 $2.0086
Current Unit Price: (20 min. delayed price) ASX:MOT $2.04 0.49%
NAV as at COB: 23.02.20 $2.0211

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Disclaimer and disclosure

All website content in respect of the MCP Master Income Trust ARSN 620 465 090 (the Trust) is issued by The Trust Company (RE Services) Limited ABN 45 003 278 831 AFSL 235 150 (Perpetual) as responsible entity of the Trust and is prepared by Metrics Credit Partners Pty Ltd ABN 27 150 646 996 AFSL 416 146 (Metrics) as the investment manager of the Trust.

The information provided in this website is of a general nature only and has been prepared without taking into account your objectives, financial situation or needs. Before making an investment decision in respect of the Trust, you should consider the current product disclosure statement (PDS) of the Trust and the Trust’s other periodic and continuous disclosure announcements lodged with the ASX, which are available at www.asx.com.au/, and assess whether the Trust is appropriate given 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.

Neither Perpetual nor Metrics guarantees repayment of capital or any particular rate of return from the Trust. Neither Perpetual nor Metrics gives any representation or warranty as to the currency, reliability, completeness or accuracy of the information contained in this website. All opinions and estimates included in this website constitute judgments of Metrics as at the date of website creation and are subject to change without notice. Past performance is not a reliable indicator of future performance.

Cororate Governance
Personal Trading in Non-Perpetual Securities | RE Services Personal Trading in Non-Perpetual Securities | Unitholders Communications Policy | Continuous Disclosure Policy

The Zenith Investment Partners (ABN 27 103 132 672, AFS Licence 226872) (“Zenith”) rating (assigned May/2019) referred to in this document is limited to “General Advice” (s766B Corporations Act 2001) for Wholesale clients only. This advice has been prepared without taking into account the objectives, financial situation or needs of any individual and is subject to change at any time without prior notice. It is not a specific recommendation to purchase, sell or hold the relevant product(s). Investors should seek independent financial advice before making an investment decision and should consider the appropriateness of this advice in light of their own objectives, financial situation and needs. Investors should obtain a copy of, and consider the PDS or offer document before making any decision and refer to the full Zenith Product Assessment available on the Zenith website. Past performance is not an indication of future performance. Zenith usually charges the product issuer, fund manager or related party to conduct Product Assessments. Full details regarding Zenith’s methodology, ratings definitions and regulatory compliance are available on our Product Assessments and at http://www.zenithpartners.com.au/RegulatoryGuidelines

Disclaimer and disclosure

All website content in respect of the MCP Income Opportunities Trust ARSN 631 320 628 (the Trust) is issued by The Trust Company (RE Services) Limited ABN 45 003 278 831 AFSL 235 150 (Perpetual) as responsible entity of the Trust and is prepared by Metrics Credit Partners Pty Ltd ABN 27 150 646 996 AFSL 416 146 (Metrics) as the investment manager of the Trust.

The information provided in this website is of a general nature only and has been prepared without taking into account your objectives, financial situation or needs. Before making an investment decision in respect of the Trust, you should consider the current product disclosure statement (PDS) of the Trust, and the Trust’s other periodic and continuous disclosure announcements lodged with the ASX, which are available at www.asx.com.au, and assess whether the Trust is appropriate given 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.

Neither Perpetual nor Metrics guarantees repayment of capital or any particular rate of return from the Trust. Neither Perpetual nor Metrics gives any representation or warranty as to the currency, reliability, completeness or accuracy of the information contained in this website. All opinions and estimates included in this website constitute judgments of Metrics as at the date of website creation and are subject to change without notice. Past performance is not a reliable indicator of future performance.

Cororate Governance
Personal Trading in Non-Perpetual Securities | RE Services Personal Trading in Non-Perpetual Securities | Unitholders Communications Policy | Continuous Disclosure Policy

The Zenith Investment Partners (ABN 27 103 132 672, AFS Licence 226872) (“Zenith”) rating (assigned May/2019) referred to in this document is limited to “General Advice” (s766B Corporations Act 2001) for Wholesale clients only. This advice has been prepared without taking into account the objectives, financial situation or needs of any individual and is subject to change at any time without prior notice. It is not a specific recommendation to purchase, sell or hold the relevant product(s). Investors should seek independent financial advice before making an investment decision and should consider the appropriateness of this advice in light of their own objectives, financial situation and needs. Investors should obtain a copy of, and consider the PDS or offer document before making any decision and refer to the full Zenith Product Assessment available on the Zenith website. Past performance is not an indication of future performance. Zenith usually charges the product issuer, fund manager or related party to conduct Product Assessments. Full details regarding Zenith’s methodology, ratings definitions and regulatory compliance are available on our Product Assessments and at http://www.zenithpartners.com.au/RegulatoryGuidelines

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