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Metrics Master Income Trust (ASX:MXT) is viewed by fund managers as an income-paying private credit vehicle trading below its asset backing. In September 2026, Emerald Capital said it had been buying a small amount of MXT after the units fell sharply over the previous two months. At $1.67, the units were trading at about a 15% discount to net tangible assets (NTA). Emerald described MXT as the safer choice compared with its MOT holding, because most of MXT's portfolio is in debt-type instruments, and said it was buying MXT rather than adding to MOT. Metrics Master Income Trust operates in the Financials sector within the Capital Markets industry, and Thesis Tracker has captured 1 comment from 1 fund manager, Emerald Capital. MXT is an ASX-listed managed investment trust that gives retail and wholesale investors exposure to the Australian corporate loan and private debt market.
Company figures as of 28 Oct 2026. For information only.
Fund managers including Emerald Capital have invested in Metrics Master Income Trust (ASX:MXT).
Emerald Capital sees an opportunity in MXT trading at about a 15% discount to its NTA after a sharp two-month fall, and expects the unit price to move back toward NTA over time. Meanwhile, Emerald notes it is receiving a cash distribution of about 9%.
The available fund manager commentary does not set out specific risks. However, Emerald Capital notes the units have fallen sharply over the past two months, and its investment case depends on the discount to NTA narrowing.
The Metrics Master Income Trust (ASX: MXT) is an ASX-listed managed investment trust providing retail and wholesale investors with exposure to the Australian corporate loan and private debt market.
General information only. Thesis Tracker reports what named fund managers have published about ASX companies. It does not take into account your objectives, financial situation or needs, and is not financial product advice or a recommendation to buy, sell or hold any security.
12,134 comments from 167 managers on 774 companies, snapshot 27 Oct 2026.