Private Credit
MA Credit Income Fund
Curated access to MA Financial’s flagship private credit strategies. The Fund aims to provide investors with consistent monthly distributions, targeting a return of the RBA Cash Rate + 4.50% p.a. (current target return of 8.85%).¹ The Fund targets a return focused on capital preservation via exposure to a diversified portfolio of Australian, New Zealand and global credit investments.
Seeks to provide consistent monthly distributions targeting a return of the RBA Cash Rate + 4.50% p.a.1
MA Financial’s credit investment philosophy is based around ‘avoiding losers, not picking winners’, a mindset which informs our approach to investing and managing risk
Access to a large, diversified portfolio of MA Financial’s flagship private credit strategies, originated through proprietary channels and relationships
Fund overview
The Fund offers investors curated access to MA Financial’s flagship private credit strategies. These strategies have delivered consistent returns and outperformed traditional benchmarks for fixed income investments since inception.2
Actively managed by a team of over 50 professionals based in Australia, Singapore and the US as part of an institutional-grade asset management platform of over 180 people, the Fund aims to provide investors with consistent monthly income and focuses on preserving capital.
The Fund’s investments span three core private credit market segments in which the Manager has a proven track record and specialist capabilities: direct asset lending, asset-backed lending and direct corporate lending.
Please refer to the Product Disclosure Statement (PDS) for further information on investment strategy and portfolio composition of the Fund.
MA Credit Income Trust (ASX:MA1)
MA1 offers investors ASX-listed access to a portfolio of MA Financial’s flagship private credit strategies, and targets a return of the RBA Cash Rate + 4.25% p.a.1 Visit the MA1 webpage for more information.
Investor profile
The Fund is intended to be used as part of a diversified portfolio, for an investor who is seeking income and capital preservation.
Prospective investors should ensure they have an informed understanding of the strategies and techniques employed by the Manager, the risks of the Fund and that the risk profile of the Fund is compatible with their own risk tolerance. The Fund is not suitable for investors who cannot tolerate any loss of capital.
The Fund’s Target Market Determination (TMD) is available at https://www.eqt.com.au/insto/.
Fund video
In this short video our Head of Global Credit Solutions Frank Danieli introduces the Fund, outlining how both retail and wholesale investors gain curated access to MA Financial’s flagship private credit strategies.
Fund facts
Target return¹
RBA Cash Rate + 4.50% p.a.
Distribution frequency³
Monthly
Distribution Reinvestment Plan (DRP)
Available. Refer to the Product Disclosure Statement for more information
Fees⁴
Nil where investing in the MA Credit Income Fund (Wholesale). Fees charged at underlying fund level only. For any directly held investments, 0.90% management fee
Responsible Entity
EQT Responsible Entity Services Ltd ACN 101 103 011, AFSL 223271
ARSN
683 242 659
APIR
ETL9421AU
Platform availability
HUB24
Investment Manager
MA Investment Management Pty Ltd
Researcher rating
'Recommended' rating⁵
Risks
All investments carry risk. Different investments carry different levels of risk, depending on the investment strategy and the underlying assets. Generally, the higher the potential return of an investment, the greater the risk.
The risks of investing in this Fund include (this list is not exhaustive and you should refer to the PDS for further risks):
Redemption and liquidity risk: Redemptions are not guaranteed. The Fund’s ability to satisfy Redemption Requests depends materially on the liquidity of the Underlying Fund and, indirectly, the liquidity of the Underlying MA Financial Credit Funds and their underlying assets. The liquidity of the Fund, Underlying Fund or Underlying MA Financial Credit Funds depends on the relevant fund’s ability to realise the full market value from the sale of its investments and the Underlying Fund’s ability to redeem its investments from the Underlying MA Financial Credit Funds. Some of the Underlying Credit Investments are illiquid and cannot be readily traded to recover fair value in a short period of time. The liquidity profile of the Underlying MA Financial Credit Funds may change over time consequently impacting a Unitholder’s ability to redeem Units from the Fund as and when required.
Valuation risk: The Fund’s NAV is based primarily on the carrying value of its investment in the Underlying Fund, and ultimately on the carrying value of the Underlying Credit Investments. Because many of the Underlying Credit Investments are illiquid and are not traded in an active market, those carrying values may not reflect the actual price achievable on a sale or realisation of the relevant Underlying Credit Investments. Such an occurrence may adversely affect the Fund’s NAV and its ability to return the full value of a Unitholder’s investment under a Redemption Request.
Governance and related party risk: The Fund, the Underlying Fund and certain Underlying MA Financial Credit Funds participate in related party arrangements across MA Financial Group. If such arrangements or conflicts are not appropriately managed, a Unitholder’s investment, valuation outcomes for Underlying Credit Investments, and the Fund’s ability to meet Redemption Requests may be adversely impacted.
Strategy and investment management risk: There is a risk that the Fund, the Underlying Fund or the Underlying MA Financial Credit Funds may not achieve their investment objectives, and that the Manager and Underlying Fund Manager may not be able to source, execute or manage investments in accordance with the Fund’s investment strategy.
Regulatory and asset class risk: Changes to the regulation of private credit, or changes in market demand for private credit as an asset class, may adversely affect the Manager’s assumptions
for valuations, liquidity and the Fund’s ability to operate as intended.
More information on the risks of investing in the Fund are contained in the PDS, which should be considered along with the TMD before deciding to invest in the Fund. You should read the whole of the PDS and TMD in order to fully appreciate the risks of an investment in the Fund before any decision is made. You are also strongly advised to consider obtaining financial advice to determine whether the Fund is suitable for you based on your personal investment objectives and financial circumstances.
Resources
Design and Distribution Obligations
Issuers and distributors of financial products must comply with the Design and Distribution Obligations (DDO) from 5 October 2021. Distributors are required to notify the product issuer of any significant dealing in a product that is not consistent with the Target Market Determination and any complaints received in relation to the Fund. For more information regarding distributors’ reporting obligations, please refer to the Fund’s Target Market Determination.
Templates
You can use the Financial Services Council (FSC) reporting templates, or the templates provided below to report significant dealings and complaints to the Responsible Entity.
Significant Dealings Report
Complaints Report
Any significant dealings or complaints can be reported to:
Private credit insights
Quarterly Global Credit Solutions investor letter
Our quarterly private credit investor letter, authored by our Head of Global Credit Solutions Frank Danieli, offers regular updates on our Global Credit Solutions fund suite along with expert insights into key themes shaping the private credit landscape.
Why debt restructuring experience is crucial in private credit investing
In this insight, Managing Director and private credit Portfolio Manager Elliott Etheridge explains why private credit managers with debt restructuring experience have a significant advantage across all areas of credit investing.
Video series: unlocking private credit at MA
In this video series two of our senior leaders – Joint CEO Chris Wyke and Head of Global Credit Solutions Frank Danieli – provide transparency into our detailed and diligent approach to private credit investing explaining how and why it sets us apart.
Private Credit Investment Series
Through a series of four insights our Head of Global Credit Solutions, Frank Danieli, introduces private credit, exploring the wide range of opportunities now available for Australian investors.
For more information and to arrange a discussion, please contact us.
- Target return is over a rolling 12-month period and is pre-tax and net of Management Fees and costs. Refer to the Fund’s Product Disclosure Statement for further information on target returns and Fund details. Current target return as at 1 June 2026.
- Traditional benchmarks refer to the Bloomberg AusBond Credit 0+ Yr Index (BACR0), a benchmark used to measure performance of the Australian traded debt market. While the Manager recognises there is not a widely used index for Australian private credit, the Manager considers the AusBond benchmark, representative of the performance of a diversified portfolio of publicly traded debt, to be an appropriate basis for comparison of the performance of the diversified portfolio of private debt represented by MA Financial’s flagship private credit strategies. Fund returns are based on FSC re-investing distributions as at April 2026 for the underlying MA Financial credit funds. Past performance is not a reliable indicator of future performance.
- Subject to liquidity.
- Refer to the Product Disclosure Statement for details of all fees and costs associated with this product.
- The rating issued for ETL9421AU 07/2025 is issued by Lonsec Research Pty Ltd ABN 11 151 658 561 AFSL 421 445 (Lonsec Research). Ratings are general advice only and have been prepared without taking account of investors’ objectives, financial situation or needs. Consider your personal circumstances, read the product disclosure statement and seek independent financial advice before investing. The rating is not a recommendation to purchase, sell or hold any product. Past performance information is not indicative of future performance. Ratings are subject to change without notice and Lonsec Research assumes no obligation to update. Lonsec Research uses objective criteria and receives a fee from the Fund Manager. Visit lonsec.com.au for ratings information and to access the full report. © 2025 Lonsec. All rights reserved.
DISCLAIMER
EQT Responsible Entity Services Ltd (“EQT Responsible Entity Services”) (ABN 94 101 103 011), AFSL 223271, is the Responsible Entity for the MA Credit Income Fund ARSN 683 242 659 (“the Fund”). EQT Responsible Entity Services is a subsidiary of EQT Holdings Limited (ABN 22 607 797 615), a publicly listed company on the Australian Securities Exchange (ASX: EQT).
This webpage has been prepared by MA Investment Management Pty Ltd (“MA”) as a representative of MAAM RE Ltd AFSL 335783 (“MAAM RE”) to provide you with general information only. In preparing this webpage, we did not take into account the investment objectives, financial situation or particular needs of any particular person. Because of that, before making an investment decision you should consider the appropriateness of this information having regard to those objectives, situation or needs. It is not intended to take the place of professional advice and you should not take action on specific issues in reliance on this information. Neither MA, EQT Responsible Entity Services nor any of their related parties, their employees or directors, provide any warranty of accuracy or reliability in relation to such information or accepts any liability to any person who relies on it. Past performance should not be taken as an indicator of future performance. You should obtain a copy of the Product Disclosure Statement (“PDS”) available at https://mafinancial.com/invest/private-credit/ma-credit-income-fund and Target Market Determination (“TMD”) available at https://www.eqt.com.au/insto/ and consider the PDS and TMD before making a decision about whether to invest in this product.
Neither the Responsible Entity nor any MA Financial group entity guarantees repayment of capital or any particular rate of return from the Fund. All opinions and estimates included in this document constitute judgements of MA as at the date of this webpage and are subject to change without notice. Statements contained in this webpage that are not historical facts are based on expectations, estimates, projections, opinions and beliefs of MA as at the date of this webpage. Such statements involve known and unknown risks, uncertainties and other factors, and should not be relied upon in making an investment decision. Any reference in this webpage to targeted or projected returns of the Fund are targets only and may not be achieved. Investment in the Fund is subject to risk including possible delays in payment or loss of income and principal invested. This information is intended for recipients in Australia only.
The address and telephone details for MA and MAAM RE are Level 27, Brookfield Place, 10 Carrington Street, Sydney NSW 2000 and +61 2 8288 5594. The Responsible Entity’s address and telephone details are Level 1, 575 Bourke Street, Melbourne VIC 3000 and +61 3 8623 5000. MA’s directors and employees and associates of each may receive remuneration in respect of advice and other financial services provided by the Responsible Entity in relation to the Fund. The Responsible Entity has entered into various arrangments with MA in connection with the management of the Fund. In connection with these arrangements MA may receive renumeration or other benefits in respect of the financial services it provides, including a management fee of 0.90% per annum of the portfolio value of the Fund attributable to direct credit investments. MA Financial group entities also receive management and performance fees of up to 1.35% per annum from managing the underlying investment vehicles indirectly invested into by the Fund.
