Perpetual Credit Income Trust Announces Daily NTA of $1.099 Per Unit as of 1 July 2026

Perpetual Credit Income Trust Reports NTA of $1.099 Per Unit on 1 July 2026

Perpetual Credit Income Trust has disclosed its daily net tangible asset estimate, indicating a per-unit value of $1.099 as at the close of business on 1 July 2026. This figure was prepared by Perpetual Investment Management Limited (PIML) and disseminated to the market by Perpetual Trust Services Limited (PTSL), acting as the trust's responsible entity. As customary for listed investment trusts of this kind, the NTA is presented on an unaudited and approximate basis.

The daily NTA release serves as a regular transparency tool for listed credit trusts, enabling unitholders and potential investors to assess the trust’s underlying asset value against its prevailing ASX market price. This comparison helps identify whether units are trading at a premium or discount to the NTA. The immediate impact on the share price was not evident from publicly available information.

Implications of the $1.099 Per Unit NTA for PCI Investors

The net tangible asset value of $1.099 per unit reflects the trust’s estimated portfolio value on a per-unit basis as at 1 July 2026. For a credit income trust like PCI, the NTA is calculated based on the value of the underlying fixed income and credit assets held, minus liabilities, divided by the number of units outstanding. This metric is commonly used by investors in listed managed investment schemes to gauge whether the market price aligns with the intrinsic value.

It is important to emphasise that PIML, PTSL, and the wider Perpetual Group do not guarantee the trust’s performance or any return on investment. The NTA figure is unaudited and has not undergone independent verification at the time of release. Investors should consider this figure within the context of their own financial situation and seek advice from qualified financial advisers where appropriate.

Perpetual Investment Management Limited’s Role as Fund Manager

Perpetual Investment Management Limited (ABN 18 000 866 535, AFSL 234426) prepared the NTA estimate and manages the trust’s investment portfolio on a daily basis. PIML is a wholly owned subsidiary within the Perpetual Group, led by Perpetual Limited (ABN 86 000 431 827). PIML’s appointment as fund manager was made by PTSL in its capacity as responsible entity, a standard governance arrangement for Australian registered managed investment schemes operating under the Corporations Act.

The Perpetual Group, comprising Perpetual Limited and its subsidiaries, is a well-established Australian financial services and asset management organisation. The trust’s governance structure separates the responsible entity function, held by PTSL, from the investment management role performed by PIML, providing regulatory oversight consistent with Australian managed investment scheme requirements.

Oversight by Perpetual Trust Services Limited

Perpetual Trust Services Limited (ABN 48 000 142 049, AFSL 236648) acts as the responsible entity and unit issuer for the Perpetual Credit Income Trust (ARSN 626 053 496). As responsible entity, PTSL holds legal accountability for managing the trust according to its constitution and the Corporations Act 2001. PTSL authorised the release of the daily NTA estimate to the ASX.

The responsible entity framework protects unitholder interests by ensuring a licensed entity oversees compliance, disclosure, and administration of the trust. PTSL’s authorisation of the daily NTA release forms part of the trust’s ongoing market disclosure obligations, mandating timely and accurate communication of material information.

Daily NTA Reporting as a Continuous Disclosure Requirement

Listed investment trusts and companies with significant investment portfolios typically provide regular NTA updates. For PCI, daily NTA disclosures form part of consistent reporting that allows investors to monitor the trust’s portfolio value in near real-time. This transparency is especially important in fixed income and credit-focused vehicles, where portfolio composition can fluctuate with credit spreads, interest rates, and individual credit performance.

The $1.099 per unit NTA as of 1 July 2026 represents the latest reported figure. Investors and analysts generally compare this against PCI’s market-quoted unit price to evaluate premium or discount levels, which can influence trading and sentiment. The company did not disclose total asset value, units on issue, or portfolio details in this update.

Disclaimers and Limitations of the NTA Estimate

The company’s update includes important disclaimers for interpreting the NTA figure. It is explicitly stated as unaudited and approximate, meaning revisions may occur upon further review. PIML asserts the information is accurate at compilation and provided in good faith, but no guarantee of precision is offered.

The disclosure also highlights that past performance does not predict future results—a standard but legally significant disclaimer under Australian financial services law. Neither PTSL, PIML, nor any Perpetual Group entity guarantees any investment return. These disclaimers align with ASIC guidance on financial product disclosures to prevent undue reliance on a single daily figure in investment decisions.

General Information and Investor Guidance

The NTA update is provided as general information and does not constitute financial advice. The company states the disclosure does not consider individual investment objectives, tax, financial circumstances, or needs. It also clarifies that the release is not an offer, invitation, solicitation, or recommendation to buy or sell PCI units.

Investors contemplating transactions based on NTA data are encouraged to consult licensed financial advisers. The NTA is one of multiple factors to consider alongside distribution history, portfolio credit quality, interest rate sensitivity, and broader fixed income market conditions.

PCI’s Structure as an ASX-Listed Credit Income Trust

The Perpetual Credit Income Trust is an Australian registered managed investment scheme listed on the ASX under ticker PCI. It aims to provide income through exposure to a diversified portfolio of credit investments, including corporate bonds, asset-backed securities, and other fixed income instruments. As a listed trust, PCI units trade on the ASX during standard market hours, differing from unlisted managed funds with less frequent liquidity windows.

The trust’s registered office is Level 14, 123 Pitt Street, Sydney NSW 2000, operating under the Australian Financial Services Licence framework regulated by ASIC. The ARSN 626 053 496 identifies the trust’s regulatory filings and disclosure history. Investors should watch for upcoming daily NTA releases and any portfolio or distribution updates.

Investor Considerations Following NTA Updates for ASX-Listed Credit Trusts

For holders or prospective investors in PCI, the daily NTA serves as a reference point rather than a standalone investment indicator. Analysts often track NTA trends over time—whether stable, rising, or falling—to assess portfolio health and credit performance. A consistent NTA near $1.099 usually indicates portfolio stability, while significant fluctuations may prompt further analysis of holdings and market conditions.

In mid-2026, credit income trusts remain influenced by Reserve Bank of Australia interest rate policies, global credit spread changes, and corporate bond market performance. These macroeconomic factors affect asset valuations within the trust and, consequently, the daily NTA. Investors are advised to review ongoing NTA disclosures alongside these broader market dynamics when evaluating the trust’s relative value.