Summary :
LICAT Weekly Summary: Yields, NTA Discounts & Liquidity — Top Movers (Week of 15 Nov 2025)
The latest snapshot of ASX ASX-listed investment Companies (LICs) reveals a mixed landscape of discounts to NTA, premium outliers, and income opportunities. Investors tracking LIC performance should note the following trends:
Key Highlights from This Week’s LIC Data
- Average running yield: ~7.2%, signaling strong income potential across the segment.
- Average premium/discount to NTA: –10%, with most LICs trading below intrinsic value.
- Total market capitalization: Over A$5.9 billion across the sample.
Top Yield Performers
- MCP Income Opportunities Trust (MOT): 9.05% running yield.
- KKR Credit Income Fund (KKC): 8.71% running yield.
- WAM Alternative Assets (WMA): 8.35% running yield.
These credit-focused LITs dominate the income space, offering attractive carry for yield-seeking investors.
Deepest Discounts to NTA
- Glennon Small Companies (GC1): –38.5% discount.
- Acorn Capital Investment Fund (ACQ): –18.8% discount.
- WAM Alternative Assets (WMA): –18.3% discount.
Persistent discounts highlight investor caution toward smaller-cap and alternative strategies, but they may present value opportunities for contrarian buyers.
Premium Outlier
- Perpetual Credit Income Trust (PCI): Trades at a +5.9% premium to NTA, reflecting strong demand for credit exposure and perceived stability.
Liquidity Leaders
- MCP Master Trust (MXT): A$2.39B market cap and 1,087k average daily turnover.
- PCI: 505k turnover.
- KKC: 431k turnover.
High liquidity ensures tighter spreads and better execution for institutional flows.
Investor Takeaways
- Income seekers: Focus on MOT, KKC, and WMA for high running yields.
- Value hunters: Monitor GC1 and ACQ for deep discounts, but assess fundamentals before entry.
- Liquidity preference: MXT and PCI remain top picks for large-ticket trades.
LICATs Weekly Summary
Name Code Closing Price Running Yield NTA Premium/(discount) to NTA Market Capitalisation (millions) Average Daily ASX turnover (000s) Acorn Capital Investment Fund ACQ $0.90 0.07 1.10 -0.19 80.00 56 Glennon Small Companies GC1 $0.49 0.07 0.79 -0.39 24.00 31 Katana Capital KAT $1.36 0.02 1.34 0.02 43.00 7 KKR Credit Income Fund KKC $2.30 0.09 2.46 -0.07 742.00 431 MCP Income Opportunities Trust MOT $1.88 0.09 2.15 -0.13 627.00 397 MCP Master Trust MXT $1.95 0.08 2.01 -0.03 2386.00 1,087 Perpetual Credit Income Trust PCI $1.17 0.07 1.11 0.06 855.00 505 Qualitas Real Estate Income Fund QRI $1.60 0.08 1.61 -0.01 1009.00 283 WAM Alternative Assets WMA $0.98 0.08 1.19 -0.18 192.00 209
Closing price as of the end of the week.