The Perpetual Credit Income Trust (the Trust) offers investors a new way to access what is expected to be an attractive and reliable monthly income stream through a diversified exposure to domestic and global credit and fixed income assets. The Trust is also a unique opportunity to invest with one of Australia’s leading active credit fund managers.
The Trust invests in a portfolio of credit and fixed income assets diversified by country, asset type, credit quality, loan maturity and issuer. It is expected that the Trust will have a portfolio of approximately 50 to 100 assets. The Trust’s flexible investment strategy means the portfolio manager can actively move within this broad range of assets to adapt to changing market conditions. Due to Perpetual’s size and market position the Trust can offer investors access to credit and fixed income assets not typically available to individual investors.
Key facts
Trust Name |
Perpetual Credit Income Trust |
Proposed ASX code |
PCI |
Investment Manager |
Perpetual Investment Management Limited |
Responsible Entity |
Perpetual Trust Services Limited |
Portfolio Manager |
Michael Korber |
Investment Objective |
To provide investors with monthly income by investing in a diversified pool of credit and fixed income assets. |
Number of holdings |
Typically 50-100 |
Target return* |
To target a total return of RBA Cash Rate plus 3.25% p.a. (net of fees) through the economic cycle. |
Distributions |
Aims to provide monthly distributions |
Estimated Management costs |
0.88% |
Performance Fee |
None |
Establishment Costs |
Paid in full by Perpetual Investment Management Limited |
* This is a target only and may not be achieved.
A NEW WAY FOR YOU TO MEET YOUR INCOME NEEDS
Perpetual’s experienced investment professionals
The Trust is managed by one of Australia’s leading investment managers, Perpetual Investments. Perpetual Investments has more than $27.7 billion in funds under management as at 31 December 2018 and is part of the Perpetual Group, which has been in operation for over 130 years. The Manager’s investment philosophy seeks to deliver predictable and repeatable returns while preserving capital through an active and risk aware investment process. Michael Korber, Head of Credit and Fixed Income, will manage the portfolio with the support of Anne Moal and a specialist team, who currently have over $7.1 billion in funds under management in credit and fixed income (at 31 December 2018). The senior portfolio managers of the Perpetual Credit and Fixed Income team have been investing together at Perpetual for over a decade.
-
Michael Korber
Head of Credit and Fixed Income
BEcMichael has over 37 years’ experience, having been involved in credit markets since their development in Australia during the 1990’s. Unlike many other fixed income portfolio managers in this market, Michael has a background in lending and banking, understanding credit risk in a fundamental way. Prior to this he was a Divisional Director, working seven years in Corporate Banking and four years as deputy to the Head of Macquarie Bank Credit and earlier, he had spent four years as a Credit Analyst with Westpac Banking Corporation.
-
Anne Moal
Senior High Yield Analyst
M. Mgmt (Finance), GAICDAnne is an experienced credit markets specialist, having worked for 22 years in credit and fixed income markets in research, origination and trading roles. She joined Perpetual in 2014. Anne is the portfolio manager of the Perpetual Loan Fund with a focus on higher yielding income opportunities. Prior to Perpetual, Anne worked for 10 years at Deutsche Bank in Sydney across various high yield specialist roles, including Head of the Distressed Product Group and Head of Credit Research. She has also previously worked for major institutions in London, including Deutsche Bank, Bankers Trust International, Banque Nationale De Paris and Credit Lyonnais.
Resources
Looking for brochures, educational information, independent research reports and other investment resources?
If you are an individual investor or financial adviser, find the resources you need on our Resources page.
CONTACT US
Call 1300 778 468 (within Australia)
or +61(2) 9299 9621 (from overseas)
between 8.30am and 7.00pm (Sydney time)
Monday to Friday
Investor email support: perpetual@automicgroup.com.au
If you are uncertain as to whether an investment in the Trust is suitable for you, please contact your stockbroker, financial adviser, accountant, lawyer or other professional adviser.