Summary :
LICATs Weekly Market Summary: Key Trends and Insights
This week, the Listed Investment Companies and Trusts (LICATs) sector showcased mixed performance across credit and alternative asset funds. Here’s a snapshot of the major movements and investor takeaways:
Top Performers by Yield
- MCP Income Opportunities Trust (MOT) led the pack with a running yield of 9.14%, reflecting strong income generation for investors seeking high-yield credit exposure.
- KKR Credit Income Fund (KKC) followed closely at 8.91%, maintaining its position as a robust option for diversified credit strategies.
- WAM Alternative Assets (WMA) also impressed with an 8.10% yield, signaling resilience in alternative investments.
Premiums and Discounts to NTA
- Katana Capital (KAT) traded at a slight premium of 1.12%, indicating investor confidence in its small-cap strategy.
- Conversely, Glennon Small Companies (GC1) saw the steepest discount at -38.49%, suggesting potential value opportunities for contrarian investors.
- KKC and MOT continued to trade at notable discounts of -8.68% and -13.19%, respectively, offering attractive entry points for income-focused portfolios.
Market Capitalisation Leaders
- MCP Master Trust (MXT) dominated with a market cap of $2.37 billion, reinforcing its position as a cornerstone in credit income strategies.
- Qualitas Real Estate Income Fund (QRI) and Perpetual Credit Income Trust (PCI) followed with $1.02 billion and $832 million, respectively, highlighting strong investor demand for real estate-backed and credit-focused income streams.
Liquidity Snapshot
- MXT and PCI remained the most actively traded, with average daily ASX turnovers of 1,087k and 505k units, ensuring ample liquidity for investors.
LICATs Weekly Summary.xlsx
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 -0.18 80.64 56 Glennon Small Companies GC1 $0.49 0.07 0.79 -0.38 23.54 31 Katana Capital KAT $1.35 0.02 1.34 0.01 43.07 7 KKR Credit Income Fund KKC $2.25 0.09 2.46 -0.09 725.70 431 MCP Income Opportunities Trust MOT $1.87 0.09 2.15 -0.13 621.59 397 MCP Master Trust MXT $1.94 0.08 2.01 -0.03 2373.43 1,087 Perpetual Credit Income Trust PCI $1.14 0.07 1.11 0.03 832.79 505 Qualitas Real Estate Income Fund QRI $1.61 0.07 1.61 0.00 1015.95 283 WAM Alternative Assets WMA $1.01 0.08 1.19 -0.16 197.98 209
Closing price as of the end of the week.