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Melbourne, Thursday 9 July, 2020 – Australia Ratings Analytics (Australia Ratings) has assigned a ‘SUPERIOR’ investment rating to two Trusts managed by Metrics Credit Partners Pty Ltd (Metrics). Both, the MCP Master Income Trust (MXT) and the Metrics Direct Income Fund have been assigned a ‘SUPERIOR’ Investment Rating.

A rating of SUPERIOR is the highest rating on the investment rating scale used by Australia Rating. A SUPERIOR investment rating indicates the highest level of confidence that the Fund can deliver a risk-adjusted return in line with its investment objectives.

The Trusts have also been allocated a Product Complexity Indicator of ‘BLUE’, which indicates a ‘Relatively Simple’ financial product. This Product Complexity Indicator denotes a belief that the strategies used to outperform, while requiring a depth of market experience and due diligence, are completely compatible with normal market practice.

The Metrics Direct Income Fund is a newly released retail Fund that, like the listed MCP Master Income Trust (MXT, ASX), invests in the Australian corporate loan market through investment in Metrics’ wholesale funds. The characteristics of the investments are very low capital volatility, regular monthly income flow, and a significant return margin compared with cash and short-term cash securities.

Australia Ratings’ analyst Maggie Callinan said, “the Metrics team is very experienced and well-resourced, with a solid track record”. She added “These two Trusts are an attractive investment on a risk-return basis, offering well diversified investment in a sub-asset class that would otherwise be difficult to access for non-bank investors”. Although the listed vehicle, MXT, was subject to some market volatility at the end of the March quarter, the returns from the underlying wholesale funds have remained stable throughout the recent covid-19 related market volatility.

A full rating report is available from


Maggie Callinan, Director, 03 8080 6684


Australia Ratings is a local, independent rating agency that provides research and ratings on debt securities, investment products, and Operational Capability Assessments. As an ASIC-licensed rating agency, we provide general advice to the broader investment community through our detailed reports. We are Australia’s only agency that holds a retail Australian Financial Services Licence (AFSL). This enables both retail and wholesale investors to use our credit ratings to help them gauge credit risk and complexity of financial products sold in the Australian market.

About Australia Ratings’ Investment Rating

Our investment rating reflects Australia Ratings’ current opinion of a fund’s or an investment’s ability to achieve its stated investment objectives in the near term.The rating expresses a view on the expected consistency of the fund’s or investment’s performance within its peer or style group and on the fund manager’s ability to produce superior performance amongst its peers in the near term with due regard to the medium-term consensus view of the asset class to which the product is benchmarked.

A five-point scale is used to differentiate our opinion on how well we believe a fund will perform against a range of risks. Click here to find out more.