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TCP Private Debt Income Fund

Aims to provide investors with attractive risk-adjusted returns with a focus on capital preservation. TCP seeks to deliver a differentiated asset class exposure compared to other offerings in the non-Investment Grade credit space.

Fund Overview

Private credit typically has low correlation with other asset classes, is less volatile, and provides excellent diversification and yield benefits within a broader fixed income portfolio. To capitalise on this, the Fund seeks to gain exposure to a combination of Senior Loans and Subordinated Loans to protect the principal investment, while securing attractive risk-adjusted returns.

As a pure credit investor, TCP does not face the relationship or ancillary business pressures experienced by banks, which may be expected to participate in specific transactions. TCP’s investment policies and processes are set to ensure the primary investment objective of the Fund, capital preservation, is met while attracting above benchmark returns.

This will be achieved by maintaining rigorous bottom-up analysis on each credit to guide investment decisions, providing a framework for ongoing monitoring of existing investments and guiding the overall portfolio mix.

The investment process and portfolio allocation strategy employed by TCP targets a broad allocation to diversified industry exposures and avoids single customer concentrations. Not more than 15% of total capital commitments may be invested in any single investment and the Fund does not invest in distressed companies.

TCP’s investment team has significant credit market experience across Asia-Pacific major markets, as well as an early mover advantage in Australia and New Zealand. This allows the team to capture value from the growing supply-demand imbalance for credit and establish a market-leading position.

Entry and exit prices are available here.

QUICKLINKS
FUND FACTS
  • APIRETL4900AU
  • Inception date30 September 2022
  • DistributionsQuarterly
  • Fund size at 31.03.2024$7.37 M
HOW TO INVEST

Investment can be made using the Fund’s PDS or through key platforms, including:

  • AMP MyNorth
  • HUB24 Investment
  • Mason Stevens Wealth
  • Netwealth Investment
  • PowerWrap
  • Praemium SMA
Research opinion

Portfolio Value of $10,000 Invested

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TCP Private Debt Income Fund Performance

As at
31 March 2024
Month % 3 Months % 1 Year % 3 Years % p.a. 5 Years % p.a. 7 Years % p.a. 10 Years % p.a. Since Inception1
% p.a.
Fund2 0.72 2.20 9.06 N/A N/A N/A N/A 7.04
Benchmark3 0.37 1.09 4.19 N/A N/A N/A N/A 3.83
Over / (Under) 0.35 1.11 4.87 N/A N/A N/A N/A 3.21

TCP Private Debt Income Fund Performance Components

As at
31 March 2024
Month % 3 Months % 1 Year % 3 Years % p.a. 5 Years % p.a. 7 Years % p.a. 10 Years % p.a. Since Inception1
% p.a.
Distribution4 2.12 2.15 7.82 N/A N/A N/A N/A 7.20
Growth (1.40) 0.05 1.24 N/A N/A N/A N/A (0.16)
Total 0.72 2.20 9.06 N/A N/A N/A N/A 7.04

30 September 2022
Fund returns are calculated net of management fees and assuming all distributions are reinvested
Bloomberg AusBond Bank Bill Index*

Past performance is not a reliable indicator of future performance.

*“Bloomberg®” and Bloomberg AusBond Bank Bill Index are service marks of Bloomberg Finance L.P. and its affiliates, including Bloomberg Index Services Limited (“BISL”), the administrator of the index (collectively, “Bloomberg”) and have been licensed for use for certain purposes by Equity Trustees Limited. Bloomberg is not affiliated with Equity Trustees Limited, and Bloomberg does not approve, endorse, review, or recommend the TCP Private Debt Income Fund. Bloomberg does not guarantee the timeliness, accurateness, or completeness of any data or information relating to the TCP Private Debt Income Fund.

IMPORTANT INFORMATION

This material has been provided for general information purposes only and must not be construed as investment advice. This material has been prepared without taking account of the objectives, financial situation or needs of individuals. Before making an investment decision in relation to a Fund, investors should consider the appropriateness of this information, having regard to their own objectives, financial situation and needs, and read and consider the product disclosure statement (PDS) for the Fund prior to making any investment decision. The PDS is available on this website or by calling (02) 9324 4356.

Past performance information provided on this website is given for illustrative purposes only and should not be relied upon as (and is not) an indication of future performance. Investing involves risk including loss of capital invested. None of Equity Trustees Limited the responsible entity of the Fund and GSFM Pty Limited, the distributor of the Fund, their related bodies or associates nor any other person guarantees the repayment of capital or the performance of the Fund or any particular returns from the Fund. Please click on this link to read the disclaimers in full.

Investment Team

Peter Szekely

Peter Szekely

Managing Partner

Graham Lees

Graham Lees

Managing Director

Peter Han

Peter Han

Managing Director

FUND AT A GLANCE
  • Reliable income stream from regular fixed interest payments
  • Focus on capital preservation balanced with compensation for risk
  • Access to Asia-Pacific private credit provides diversification benefits
  • Low correlation with other asset classes
  • Opportunity for attractive risk-adjusted returns resulting from market dislocations

Read | Watch | Listen

Insights

Australian private debt market to grow as investors seek lower volatility

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Media Release

Australian private debt market to grow as investors seek lower volatility

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Insights

We should expect another strong year for private credit | ausbiz

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Heading into 2024 private credit offers steady cash income with equities still vulnerable

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