

| Fund Type: | Single | Discretionary/Quantitative: | Discretionary |
| Strategy: | Credit | This Funds FUM (millions): | AU$177.09m |
| Style: | N/A | Fund Inception Date: | Since 01 November 2022 |
| Geographic Mandate: | Australia/NZ | Latest Return Date: | August 2026 |
| Fund Domicile: | Australia | Investor Type: | Wholesale |
| Status: | Open | Reporting Status: | Current |
| Manager: | Rixon Capital | Total FUM for all funds: | AU$185.5m |
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Manager Overview:
Rixon Capital was founded by principals Patrick William and Shrikaanth Balasubramaniam, and equity investor and cornerstone fund investor, Tanooki Ventures. Patrick William is Managing Director and has over 15 years' experience in public & private market M&A and high yield Australian SME private credit. Shrikaanth Balasubramaniam is Director of Credit and has over 10 years' experience in equity research and high yield Australian SME private credit. Tanooki Ventures was founded by brothers Dallin & Luke Howes and brother-in-law Blair Murphy. The Tanooki Ventures founders led and exited fintech Proviso to Archer Capital-owned Illion in 2018. Blair Murphy sits on the Rixon Capital Board. All investment decisions by the Fund require unanimous approval from its Investment Committee. This Investment Committee comprises the principals, Blair Murphy, and two independents. The Lead Independent is Alan Butterfield who previously managed an SME private credit strategy. Prior to this he was Australian country head of two global debt financiers. The second Independent is Justin Roberts who is an experienced investment banker, owner-operator of SME businesses, and fintech entrepreneur. Justin holds an MBA from the University of Chicago Booth School of Business. |
Fund/Strategy Overview:
The Rixon Income Fund invests in first ranking senior secured, asset-backed loans to Australian SMEs. The Fund is an income-only strategy and makes monthly distributions to investors. The investment process has three key hurdles: First, the Investment team undertake due diligence on qualifying loans. Second, the Investment Team then prepares and presents a comprehensive Credit Paper to the Investment Committee, which is comprised of Rixon Capital executives, one shareholder-director, and two independents. Finally, should unanimous approval be received, the Investment Team will progress to documentation and loan settlement. |
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| Other funds operated by manager: | |||
| Rixon Credit Opportunities Fund | |||
| Minimum Investment: | Minimum Additional Investment: | Minimum Term: | Investment Frequency: |
| AU$50,000 | AU$25,000 | 0 | Monthly |
| Regular Savings Option: | Regular Savings Min. Amount: |
Regular Savings Max. Amount: |
Regular Savings Freq.: |
| No | |||
| Redemption Notice: | Redemption Frequency: | Notes: | |
| 90 Days | Quarterly |
||
| Distributions: | Distribution Frequency: | Last Distribution Date: | Last Distribution Amount: |
| Yes | Monthly | 08 May 2026 | AU$0.93 |
| Offshore/Onshore: | Fund Structure: | Share Classes: |
Trustee/Responsible Entity: |
| Onshore | Unit Trust | AU$ | AMAL Trustees Pty Ltd |
| Administrator: | Prime Broker: | Custodian: | Legal: |
| Ascent Fund Services Australia Pty Ltd | n/a | AMAL Trustees Pty Ltd | Corrs Chambers Westgarth |
| Management Fee: |
Performance Fee: |
High Water Mark: |
Hurdle: |
| 1.5% | 20% | N/A | RBA Cash Rate + 6.00% |
| Buy Spread: | Sell spread: | Early Redemption Fee: | Fees Notes: |
| 0.000% | 0.000% | No |
| Latest Return Date: | Latest Result: | Fund Inception Date: | Annualised Return: |
| August 2026 | -3.17% | 01 November 2022 | 10.97% |
| Latest 3 Months: | Latest 6 Months: | Latest 12 Months: | Latest 2 Years p.a.: |
| -1.33% | 1.45% | 7.20% | 9.73% |
| Latest 3 Years p.a.: |
Latest 4 Years p.a.: |
Latest 5 Years p.a.: |
Latest 7 Years p.a.: |
| 10.54% | N/A | N/A | N/A |
| % Positive Months (S.I.): |
Average Return: | Average +ve Return: | Average -ve Return: |
| 97.83% | 0.87% | 0.96% | -3.17% |
| Best Month: | Worst Month: | Up Capture Ratio (S.I.): |
Down Capture Ratio (S.I.): |
| 1.79% | -3.17% | 125.10% | 0.00% |
| Largest Drawdown (S.I.): |
Longest Drawdown (S.I.): |
Current Drawdown (%): |
Current Drawdown (Months): |
| -3.17% | 1 months | -3.17% | 1 months |
| Annualised Standard Deviation (S.I.): |
Downside Deviation (S.I.): |
Sortino Ratio (S.I.): |
- |
| 2.14% | 1.80% | 3.62 | - |
| Sharpe Ratio (12 months): |
Sharpe Ratio (3 years): |
Sharpe Ratio (5 years): |
Sharpe Ratio (S.I.): |
| 0.80 | 2.56 | N/A | 3.02 |
| Please note, Sharpe and Sortino ratios are calculated using the Australian Risk Free Rate | |||
AFM's Quintile Rankings show performance and Key Performance Indicators (KPI's) of Rixon Income Fund compared to a peer group of funds with a similar strategy and geographic mandate. Each green square places a fund in one quintile (or 20%) of its peer group - five indicating that the fund is in the top (best) quintile for the corresponding KPI.
As a reference point the equivalent "quintile" performance of the peer group's underlying market index is also indicated by the red dot.
| SQM: | Favourable: 3.75 stars |
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Historical Performance (all figures shown here are net of fees unless otherwise stated)
| Year | Jan % | Feb % | Mar % | Apr % | May % | Jun % | Jul % | Aug % | Sep % | Oct % | Nov % | Dec % | YTD % |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | 0.93 | 0.85 | 0.92 | 0.93 | 0.94 | 0.94 | 0.95 | -3.17 | N/R | N/R | N/R | N/R | 3.26 |
| 2025 | 1.00 | 0.92 | 0.97 | 1.01 | 1.00 | 1.00 | 0.94 | 0.94 | 0.94 | 0.95 | 0.95 | 0.92 | 12.17 |
| 2024 | 0.94 | 0.94 | 0.94 | 0.95 | 0.98 | 0.93 | 0.99 | 0.96 | 0.94 | 0.97 | 0.99 | 1.00 | 12.16 |
| 2023 | 0.80 | 0.80 | 0.90 | 1.10 | 0.85 | 0.88 | 0.93 | 1.02 | 0.99 | 0.96 | 1.03 | 0.94 | 11.79 |
| 2022 | N/R | N/R | N/R | N/R | N/R | N/R | N/R | N/R | N/R | N/R | 1.79 | 0.80 | 2.60 |
Historical Financial Year Performance (all figures shown here are are percentage per month net of fees unless otherwise stated)
| Year | Jul % | Aug % | Sep % | Oct % | Nov % | Dec % | Jan % | Feb % | Mar % | Apr % | May % | Jun % | FYTD % |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026/2027 | 0.95 | -3.17 | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | -2.25 |
| 2025/2026 | 0.94 | 0.94 | 0.94 | 0.95 | 0.95 | 0.92 | 0.93 | 0.85 | 0.92 | 0.93 | 0.94 | 0.94 | 11.74 |
| 2024/2025 | 0.99 | 0.96 | 0.94 | 0.97 | 0.99 | 1.00 | 1.00 | 0.92 | 0.97 | 1.01 | 1.00 | 1.00 | 12.40 |
| 2023/2024 | 0.93 | 1.02 | 0.99 | 0.96 | 1.03 | 0.94 | 0.94 | 0.94 | 0.94 | 0.95 | 0.98 | 0.93 | 12.18 |
| 2022/2023 | N/A | N/A | N/A | N/A | 1.79 | 0.80 | 0.80 | 0.80 | 0.90 | 1.10 | 0.85 | 0.88 | 8.19 |