Ma Credit Income Trust · ASX:MA1
Ma Credit Income Trust — Q2 2025 Earnings Presentation
19 slides from Ma Credit Income Trust's earnings presentation, Jul 18, 2025
Slide 1: MA Credit Income Trust Quarterly investor update
MA Credit Income Trust Quarterly investor update For personal use only June Quarter 2025
Slide 2: Important information
Important information Equity Trustees Limited (Equity Trustees) (ABN 46 004 031 298), AFSL 240975, is the Responsible Entity The address and telephone details for MA and MAAM RE are Level 27, Brookfield Place, 10 Carrington For personal use only for the MA Credit Income Trust ARSN 681 002 531 (the F
Slide 3: MA Credit Income Trust | Snapshot
MA Credit Income Trust | Snapshot MA Credit Income Trust (MA1 or the Fund) provides exposure to a $5.1 billion diversified portfolio of MA Financial’s flagship private credit strategies For personal use only Distribution yield2 Price / NAV (per unit) 1 Market cap. / NAV1 Target return Manager alignm
Slide 4: MA Credit Income Trust | Key highlights
MA Credit Income Trust | Key highlights Consistent monthly • Seeks to provide consistent monthly distributions targeting RBA Cash Rate + 4.25% per annum over a rolling 12-month period (pre-tax, net For personal use only income objective of Management Fees and costs)1 • The Fund is managed by MA Fina
Slide 5: Private Credit at MA Financial
Private Credit at MA Financial MA Financial is a leading private credit asset manager in Australia and the United States Leading Private Credit Asset Manager with outstanding track record Platform advantages For personal use only ASX-listed asset manager ~$1.2bn market cap. with $12.3b AUM1 $5.8 bil
Slide 6: Differentiated & proven investment process
Differentiated & proven investment process We have designed and refined a distinctive investment process to deliver for our investors For personal use only Investors, not Traders Carefully designed team structure Red team • Fundamentally oriented credit investors • Distinct Investment & Portfolio Ma
Slide 7: MA Credit Income Trust | Trading performance since listing
MA Credit Income Trust | Trading performance since listing Last traded price vs NAV Price / NAV Price / NAV1 For personal use only (30 June) (average since listing) 100.3% 99.7% 2.050 3.00 2.030 2.50 2.010 1.990 2.00 1.970 Price ($/unit) Volume trade (Units 'm) 1.950 Liberation 1.50 Day2 1.930 1.00
Slide 8: MA Credit Income Trust | Financial results – June 2025
MA Credit Income Trust | Financial results – 30 June 2025 MA1 delivered a net return of 2.11% for the June quarter 2025 (8.68% annualised) Performance for period ended 30 June 20251, 2 Trailing net return (annualised)1 For personal use only 10% 8.88% 8.79% 8.82% 9% 8.68% Fund performance 1 month 3 m
Slide 9: MA1 Portfolio composition
MA1 Portfolio composition MA1 provides access to a $5.1 billion portfolio of private credit assets allocated across three core lending segments Investment strategy1 Debt ranking1,2 For personal use only 1% 100% 100% 5% 13% 80% 80% 49% 46% 65% 60% 57% 60% 40% 40% 51% 52% 20% 30% 30% 20% 0% 2025 Q1 20
Slide 10: MA1 Portfolio composition (continued)
MA1 Portfolio composition (continued) Diversified across credit sub-segments where underlying exposures span a wide range of asset types and end markets Credit sub-segments1,2 For personal use only RMBS Real Estate - Investment Real Estate - Development Real Estate - Residual Stock Loan 12% 14% 3% S
Slide 11: MA1 Portfolio diversification
MA1 Portfolio diversification High level of granularity with a median position size comprising ~0.3% of total portfolio asset exposure For personal use only Underlying portfolio granularity 3.0% 2025 June 2025 March Key diversification statistics1,2 Quarter Quarter 2.5% No. positions 179 166 179 2.0
Slide 12: MA1 Portfolio quality
MA1 Portfolio quality The Underlying Fund exposures continue to demonstrate strong credit performance Credit Rating1,2 Performance indicator (% by asset value)1,3 Performance indicator descriptions3 For personal use only 1% 100% Performing – Neutral Risks 7% Position is performing as expected with r
Slide 13: Portfolio metrics by investment strategy
Portfolio metrics by investment strategy1 For personal use only Asset Backed Lending Direct Asset Lending Direct Corporate Lending Underlying investments (#) 78 Underlying investments (#) 84 Underlying investments (#) 17 Underlying assets (#) 714k+ Median position size ($’m) 13.9 Median position siz
Slide 14: Investment activity in quarter
Investment activity in quarter ~$1 billion of loans were funded in the three months to 30 June 2025 For personal use only Investment strategy Commentary • ~$400 million secured positions funded, largely in private funding warehouses Asset Backed Lending • Funded a diverse range of asset segments inc
Slide 15: Investment case studies
Investment case studies Three examples of new loans made in the quarter For personal use only Asset Backed Lending Direct Asset Lending Direct Corporate Lending Private warehouse facility to a leading Co-investment construction loan to Loan to fund working capital and Nature of facility Nature of fa
Slide 16: Market update and outlook
Market update and outlook • Outlook for Australia’s economy remains uncertain, with Q1 GDP growth at 0.2%, however unemployment remains steady at ~4% and inflation stabilising has enabled For personal use only two RBA rate cuts in 2025. • Further RBA cuts are expected, potentially supporting economi
Slide 17: Investor engagement
Investor engagement MA Financial is committed to active investor engagement Monthly Reporting Publications Webinars and Events For personal use only Quarterly Webinars with Q&A Quarterly letter from the Manager Annual Private Credit Investor Day Investment Insights MA Alternatives Summit What Matter
Slide 18: Q&A
MA Q&A Ajuo asn jeuosiad 104 18
Slide 19: MA Financial Group: We invest. We lend. We advise.
Financial Group nt , ip adi We invest. We lend. We advise.
MA Credit Income Trust — Q2 2025 Earnings Presentation on 6ix