• Profit for the year down 2.58% to $169.6 million
• Distributions of 15.77 cents per unit, down from 18.02 cents per unit
• Net Tangible Assets per unit steady at $2.00

The Trust Company (RE Services) Limited, the responsible entity of the Metrics Master Income Trust (MXT), has announced the audited results of the fund for the year ended 30 June 2025. Revenue from ordinary activities was $176.6 million, down 2.51% from the previous year. Profit for the year was $169.6 million, a decrease of 2.58% compared to the prior year. Total comprehensive income also declined by 2.58% to $169.6 million. Distributions for the year were 15.77 cents per unit, down from 18.02 cents per unit in the previous year. As at 30 June 2025, the fund's total assets amounted to $2.46 billion, up from $2.14 billion a year earlier. The increase was driven by a $315 million wholesale placement completed in May 2025. Net Tangible Assets per unit remained steady at $2.00 throughout the year. The fund continued to maintain a diversified portfolio of Australian and New Zealand corporate loans, with over 98% of assets in senior ranking loans and a weighted average credit rating of BBB-. The fund's investment manager, Metrics Credit Partners, successfully entered 119 new investments and exited 87 investments during the year.

The fund delivered an annual net return of 8.17% and a 1-year net spread over the RBA Cash Rate of 3.86%, outperforming its target return of RBA Cash Rate + 3.25% p.a.

The fund will continue to be managed in accordance with its investment objectives and guidelines, with a focus on delivering consistent monthly income distributions and preserving investor capital through active portfolio risk management.