MA Financial's first listed private credit fund to begin trading on ASX
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The news: Alternative asset manager MA Financial Group's first listed private credit fund MA Credit Income Trust will begin trading on the ASX today.
The numbers: MA Financial said the new fund "offers investors access to a large, diversified portfolio of MA Financial’s flagship private credit strategies", with exposure to an underlying portfolio of over $3.7 billion and 165 private credit investments.
The fund will start trading today at a listing price of $2. MA Financial shares were down 1.2% to $8 at 11am AEDT.
The context: MA Financial said the listing was driven by an "unprecedented demand" in listed investment trusts in Australia. Listed investment trusts focused on private credit have performed particularly strongly, the company noted, often trading at a premium to their net asset values.
MA Financial secured $171 million in cornerstone commitments for MA Credit Income Trust in January.
The source: MA Financial Group media release
