Metrics Master Income Trust Announces Daily NTA of $2.0064 Per Unit as of 10 July 2026

Unaudited NTA Per Unit of $2.0064 Confirmed for 10 July 2026

The Trust Company (RE Services) Limited, serving as Responsible Entity for Metrics Master Income Trust, confirmed in its 13 July 2026 update that the unaudited NTA per unit was $2.0064 as at 10 July 2026. All figures are denominated in Australian dollars unless otherwise noted. This disclosure aligns with the trust’s ongoing practice of providing daily NTA estimates to keep investors and the market informed of the fund’s underlying asset value on a near real-time basis.

It is important to emphasize that this NTA figure is unaudited and has not undergone independent verification at the time of release. The trust also clarified that Net Asset Value (NAV) and Net Tangible Assets (NTA) are considered equivalent values for reporting, eliminating potential confusion between these financial metrics. Investors should note the unaudited nature of this figure and anticipate possible minor adjustments upon final audit.

How Metrics Master Income Trust Delivers Monthly Cash Income to Investors

The Metrics Master Income Trust is designed to provide monthly cash income, a core aspect of its investment strategy. The trust accomplishes this by actively managing a diversified portfolio of loans within Australia’s bank-dominated corporate loan market. This strategy offers retail and wholesale investors access to corporate lending opportunities typically controlled by major financial institutions, an asset class historically difficult to access directly outside banking channels.

The Manager’s investment approach balances generating a Target Return with preserving investor capital. This dual objective defines the trust’s mandate. By actively managing a diversified loan portfolio rather than holding static assets, the Manager adapts to evolving credit market conditions to optimize the portfolio’s risk-return profile. Specific Target Return figures or updated yield metrics were not disclosed in this update.

The Trust Company (RE Services) Limited’s Role as Responsible Entity

The Trust Company (RE Services) Limited holds an Australian Financial Services Licence (AFSL: 235150) and acts as the Responsible Entity for Metrics Master Income Trust. It carries legal and regulatory responsibilities for overseeing the trust’s management on behalf of unit holders. The Responsible Entity ensures compliance with the trust’s constitution, Product Disclosure Statement, and the Corporations Act 2001.

As part of the Perpetual group, a prominent Australian financial services provider, The Trust Company (RE Services) Limited supports funds management, financial advisory, and trustee services. Additional information about the Responsible Entity and Perpetual’s operations is available at www.perpetual.com.au. The combination of Metrics Credit Partners as specialist credit manager and The Trust Company (RE Services) Limited as regulated Responsible Entity is a common structure for ASX-listed managed investment trusts.

Metrics Credit Partners’ Expertise in Australia’s Corporate Loan Market

Metrics Credit Partners, the investment manager of Metrics Master Income Trust, specializes in Australian credit asset management. The trust’s strategy focuses on corporate loans, a market traditionally dominated by major banks. Metrics Credit Partners provides investors access to this market through the trust, offering diversification and credit market participation otherwise difficult for individual investors. More details about the manager and its approach can be found at www.metrics.com.au.

The trust employs active management of diversified loan portfolios, making ongoing decisions on portfolio composition, credit selection, and risk management to meet investment objectives. This approach helps navigate fluctuations in interest rates, credit spreads, and borrower quality. The update did not disclose specific portfolio compositions, changes, or current Target Return.

Significance of Daily NTA Reporting for MXT Investors and Market Participants

Daily NTA reporting enhances transparency for listed investment trusts like Metrics Master Income Trust. By publishing estimated NTA per unit each business day, the trust enables investors to compare the fund’s asset value with its ASX market price. This comparison is especially important for income-focused trusts, where premiums or discounts to NTA indicate market sentiment regarding the trust’s loan portfolio value.

For MXT, daily NTA estimates provide investors with insight into capital stability over time. Given the trust’s low capital loss risk mandate, any sustained NTA fluctuations would be closely watched by unit holders and potential investors. The $2.0064 figure as of 10 July 2026 offers the latest data point, although no historical NTA comparisons were provided in this update.

Equating NAV and NTA in the Trust’s Reporting Framework

The trust’s update clarifies that Net Asset Value (NAV) and Net Tangible Assets (NTA) are treated as equivalent values. This reflects the trust’s asset base, which comprises loan portfolios rather than physical or intangible assets that could cause NAV and NTA to diverge in other funds or companies.

This approach simplifies reporting and ensures investors compare consistent figures. By explicitly equating NAV and NTA, The Trust Company (RE Services) Limited eliminates confusion and promotes clarity when reviewing NTA disclosures. The update also reminds investors that past performance is not indicative of future results, a standard disclaimer for managed investment schemes.

Risks Associated with the Corporate Loan Strategy of Metrics Master Income Trust

The trust’s corporate lending focus entails specific risks. Credit risk is primary, as returns depend on corporate borrowers’ ability to meet loan obligations. Economic downturns may increase default rates, potentially impacting NTA and income distributions. Although the Manager mitigates risk through diversification and credit selection, credit losses cannot be entirely avoided.

Liquidity risk is also relevant, since corporate loans, especially in private or non-bank lending, may be less liquid than publicly traded securities, limiting portfolio repositioning speed. Interest rate risk affects both income generated and market pricing of MXT units. Investors should carefully assess these risks relative to their financial goals before investing.

Key Factors MXT Investors Will Monitor After This NTA Release

Following the 10 July 2026 NTA release, MXT investors will closely watch the relationship between the reported $2.0064 NTA per unit and the trust’s ASX market price. A premium may reflect positive market sentiment on income potential, while a discount could indicate uncertainty or selling pressure.

Investors will also anticipate the next monthly income distribution, a key reason for holding MXT units. Any updates on loan portfolio composition, credit quality, or Target Return guidance would be material. The immediate share price impact of this routine daily NTA release was not evident. The next significant event will likely be a portfolio update or distribution announcement from Metrics Credit Partners.