Current Unit Price: (20 min. delayed price) ASX:MXT $2.03 -0.49%
NAV as at COB: 13.05.21 $2.0042
Current Unit Price: (20 min. delayed price) ASX:MOT $2.02 1.25%
NAV as at COB: 13.05.21 $2.0341

LATEST NEWS

MCP Master Income Trust (ASX:MXT) successfully raises $191.8 million in oversubscribed wholesale placement

Metrics Credit Partners’ MCP Master Income Trust (ASX:MXT) raised in excess of $190 million via a wholesale investor placement to further diversity its loan portfolio.

MXT issued more than 95 million units in the trust at $2 each in a placement to institutional and wholesale investors.

Andrew Lockhart, Managing Partner of Metrics Credit Partners, welcomed the outcome of the capital raising, which was oversubscribed.

“We are very pleased to continue to see strong investor interest in our funds and we thank investors that participated in the placement. The positive response to the offer reflects robust demand from investors for sources of attractive and stable income and is a great endorsement of the quality of our investment team and the strong track record of the fund.

“MXT continued to deliver reliable monthly income throughout 2020 even as many equity investors experienced reduced income as companies cut their dividend payments to repair their balance sheets – and this proven performance is underpinning ongoing investor appetite to invest in MXT,” Mr Lockhart said.

“Metrics will use the proceeds of this capital raise to further diversify the trust’s portfolio in order to reduce risk, enhance returns and further reduce costs over time.”

After initially planning to issue up to 95 million new units, Metrics issued 95,924,161 new units, in response to strong demand.

As Australia’s first ASX-listed corporate loan fund and the country’s largest credit LIT, MXT recently celebrated a three-year track record of successful performance. Launched in October 2017, MXT opened up a sector of the fixed income market that was previously only available to institutional investors and banks.

Since inception (through to the period ending 31 March 2021), MXT has delivered a net return of 5.30%, a spread of 4.30% p.a. above the RBA cash rate, and well above its target of 3.25% over the RBA cash rate. MXT is positively rated by all the major ratings agencies, including a ‘Superior’ investment rating by Australia Rating Analytics (Australia Ratings) and a ‘Highly Recommended’ by Zenith Investment Partners.

MXT’s current portfolio encompasses 154 corporate loans (as at March 31) diversified across industries and the credit spectrum.

Corporate loans offer stable cash yields with low risk of capital loss. They are also an inflation hedge and add diversity to an investment portfolio because of their low correlation to public equities and bonds.

Metrics is Australia’s largest non-bank lender in private debt and credit and has in excess of $7 billion in assets under management across its strategies.

Mr Lockhart said the successful capital raising will assist Metrics to continue to provide a source of nonbank funding to corporate Australia as businesses seek to pursue growth opportunities in the rebounding economy.

“As Australia’s economy shows its resilience yet again and recovers apace from the pandemic-led downturn, business confidence is rising and we are experiencing strong demand for credit from corporate borrowers across industries,” he said.

Joint lead managers on the offer were Taylor Collison, Morgans Financial, Ord Minnett and Wilsons Corporate Finance. Pinnacle Investment Management was appointed as distribution partner to Metrics. Minter Ellison acted as legal adviser to MXT.

26 April, 2021
Current Unit Price: (20 min. delayed price) ASX:MXT $2.03 -0.49%
NAV as at COB: 13.05.21 $2.0042
Current Unit Price: (20 min. delayed price) ASX:MOT $2.02 1.25%
NAV as at COB: 13.05.21 $2.0341

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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

Disclaimer and disclosure

All website content in respect of the Metrics Direct Income Fund ARSN 641 620 331 (the Fund) is issued by Evolution Trustees Limited ACN 611 839 519 AFSL 486 217 (Evolution) as responsible entity of the Fund. Metrics Credit Partners Pty Ltd ABN 27 150 646 996 AFSL 416 146 (Metrics) is the investment manager of the Fund.

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 Fund, you should consider the current product disclosure statement (PDS) of the Fund which is available at www.metrics.com.au, and assess whether the Fund 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 Evolution nor Metrics guarantees repayment of capital or any particular rate of return from the Fund. Neither Evolution 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.

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