Both the LIT and LIC market were sold off during the week. But they are two very different markets. The LIT market is largely private debt, so unless you are making a call on loans, which we are far from doing so, it’s a buying opportunity. The LIC universe is different, but we won’t know the NTA moves until month end but appropriate for the market to move in advance. And there is an additional factor that impacts LIC – its call general market sentiment. Spreads to NTA would have no doubt widened in the negative this week, and that is perfectly reasonable.
| Name | Code | Closing Price | Running Yield | NTA | Premium/(discount) to NTA | Market Capitalisation (millions) | Average Daily ASX turnover (000s) |
|---|---|---|---|---|---|---|---|
| Acorn Capital Investment Fund | ACQ | 0.725 | 0.09 | 1.10 | -0.34 | 64.74 | 56 |
| Glennon Small Companies | GC1 | 0.445 | 0.08 | 0.79 | -0.44 | 21.47 | 31 |
| Katana Capital | KAT | 1.19 | 0.02 | 1.34 | -0.11 | 36.90 | 7 |
| KKR Credit Income Fund | KKC | 2.1 | 0.10 | 2.46 | -0.15 | 677.32 | 431 |
| MCP Income Opportunities Trust | MOT | 1.88 | 0.09 | 2.15 | -0.12 | 625.00 | 397 |
| MCP Master Trust | MXT | 1.93 | 0.08 | 2.01 | -0.04 | 2052.90 | 1087 |
| Perpetual Credit Income Trust | PCI | 1.135 | 0.08 | 1.11 | 0.03 | 552.16 | 505 |
| Qualitas Real Estate Income Fund | QRI | 1.575 | 0.09 | 1.61 | -0.02 | 958.03 | 283 |
| WAM Alternative Assets | WMA | 0.92 | 0.08 | 1.19 | -0.23 | 180.48 | 209 |