Unparalleled
Access

Global Opportunities

HIGHLY
DIVERSIFIED

Targeting STRONG
RISK-ADJUSTED RETURNS

The Pengana Diversified Private Credit Fund offers wholesale investors unparalleled access to a professionally constructed portfolio of high-quality global private credit investments.

The Fund is supported by Mercer’s investment advisory team who, along with the responsibility of sourcing, research and due diligence of underlying managers, bring local and global footprint, access and investment expertise.

Key Features OF GLOBAL PRIVATE CREDIT

Diversification

Investing in a global private credit portfolio allows investors to diversify their portfolio across various sectors and geographical regions, reducing risk.

Higher historical returns

Investors in global private credit receive a return premium, which is typically floating rate, over traditional fixed income.

Inflation protection

Private credit investments can provide a hedge against inflation as the underlying assets are predominantly floating-rate investments.

Illiquidity premium

Private credit investments are often illiquid, which can lead to a higher return compared to traditional fixed income, as compensation for the lack of liquidity.

Lower correlation
with public markets

Private credit investments tend to have a lower correlation with public markets, providing a potential source of diversification.

Flexibility

Private credit investments offer a wide range of investment options, providing flexibility to investors.

Capital Resilience

Global private credit assets are predominantly secured loans underpinned by contractual agreements with borrowers, which may result in lower default rates and higher recovery rates relative to other credit alternatives.

access toP-RATED MANAGERS

 The Fund provides exposure to top-rated managers with strong track records and sustainable competitive advantages.

Long-term investment horizon

Private credit investments typically have a long-term investment horizon, providing an opportunity for investors to achieve strong long-term returns.

MERCER’S ROLE

Mercer has been appointed as investment consultant and is primarily responsible for underlying manager sourcing, research, and due diligence. All underlying managers identified by Mercer are rated by Mercer’s global research team and have undergone operational risk assessments, which provides an additional level of governance. Mercer also provides assistance with portfolio construction, underlying manager monitoring, valuation, performance measurement and asset and liability modelling.

 

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PERFORMANCE

  • CHART
  • TABLE
  • UNIT PRICES
DATE APPLICATION REDEMPTION DISTRIBUTIONS
20/07/20241.04211.0421-
20/08/20241.04781.0478-
30/06/2024 1.0672 1.0672 0.0331
20/06/2024 1.0714 1.0714 -
20/05/2024 1.0702 1.0702 -
20/04/2024 1.0538 1.0538 -
20/03/2024 1.0498 1.0498 -
20/02/2024 1.0400 1.0400 -
20/01/2024 1.0315 1.0315 -
20/12/2023 1.0230 1.0230 -
20/11/2023 1.0118 1.0118 -
20/10/2023 1.0032 1.0032 -
30/09/2023 1.0000 1.0000 -

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THE TEAM

Nehemiah Richardson

Nehemiah Richardson

Managing Director and CEO - Pengana Credit

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Adam Rapeport

Adam Rapeport

Portfolio Manager

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Nick Griffiths

Nick Griffiths

Chief Investment Officer

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Scott Wilkinson

Scott Wilkinson

Mercer - Head of Private Debt APAC

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Fund Facts

Investment Objective

To generate strong risk adjusted returns via exposure to a diversified portfolio of global private credit investments, liquid credit investments and cash.

Target Return

RBA Official Cash Rate + 7 – 9% p.a. in Australian Dollars, generated over a rolling 5 year investment horizon.

Target Annual Distribution

Minimum of 80% of the annual Fund return in cash, paid quarterly

Application Frequency

Monthly

Term

3-year lock-up based on investment date

Redemption Frequency

Quarterly redemptions at each Quarter end after a 3-year lock-up Term, subject to conditions as set out in Section 5.2.3 of the IM

Redemption Notice

Three months before the end of a Quarter

Minimum Initial Investment

$500,000

Minimum Additional Contribution

$100,000

Pricing Frequency

Quarterly

Management Fee*

1% p.a.

Performance Fee*

20% of returns above the Hurdle

Hurdle

RBA Official Cash Rate + 6% p.a. with a floor of 7.5% p.a.

Distribution Reinvestment

Yes

† The Target Return is an objective only and may not be achieved. The target return is subject to significant economic, market and other uncertainties that may adversely affect the actual returns of any investments. Future returns are not guaranteed. Investors should review the risk disclosures set out in Section 6 of the Fund’s Information Memorandum available under the Reports & Resources section.

*Fees are stated inclusive of GST and net of RITC. For more information, refer to the Fund’s Information Memorandum available under the Reports & Resources section.

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Mercer insights

Issued by Mercer Consulting (Australia) Pty Ltd – Available for Financial Advisers only.

Pengana Capital Group