DRAFT
Fund Review
La Trobe US Private Credit Fund - Retail Class B
Performance as at Sep 2026
La Trobe Financial Services Pty Limited, established in 1952, is an independent credit specialist and alternative asset manager based in Melbourne and Sydney, with operations involving over 550 staff. It focuses on lending to borrowers underserved by mainstream financiers and is wholly owned by Brookfield Asset Management. La Trobe's investment management is carried out by LFS, while LFAM serves as the responsible entity for its fund, with substantial funds under management as of Jun 2025.
| 1 Year | 3 Years3 | 5 Years3 | 7 Years3 | Inception3,4 | ||
| Total Return | Fund | 4.09% | N/A | N/A | N/A | 6.51% |
| Peer Group1 | 8.62% | N/A | N/A | N/A | 8.77% | |
| Index2 | 9.06% | N/A | N/A | N/A | 9.08% | |
| Volatility | Fund | 1.36% | N/A | N/A | N/A | 1.22% |
| Peer Group1 | 1.48% | N/A | N/A | N/A | 1.07% | |
| Index2 | 0.10% | N/A | N/A | N/A | 0.08% | |
| 1Hybrid Private Credit, 2RBA Cash Rate + 5%, 3Annualised, 4Jul 2024 | ||||||
Strategy Description
The La Trobe US Private Credit Trust is focused on a private debt and mortgage strategy for Class B Retail Units, aiming for returns benchmarked to SOFR plus 3%. It seeks risk-adjusted returns and some capital appreciation through indirect investments via the LGAM US Private Credit Feeder Fund into LGAM Private Credit LLC. The primary investment targets are directly originated senior secured first-lien term loans to U.S. middle market companies, complemented by cash and cash-like positions. The Responsible Entity intends to hedge AUD exposure and allows monthly applications while facilitating quarterly redemptions, subject to liquidity constraints.Cumulative Performance
Core Details |
PG = Peergroup Average | ||
| APIR: | LTC1706AU | Status: | Open |
| Peer Group: | Hybrid Private Credit | Inception Date: | Jul 2024 |
| Strategy: | Private Debt/Mortgage | Style: | N/A |
| Geography: | USA | Domicile: | Australia |
| Investors: | Retail | Distributions: | Monthly |
| Fund Size: | Undisclosed | Manager FUM: | AU$ 12,616.57m |
| Applications: | Monthly, Initial: AU$ 10,000 | Redemptions: | Quarterly |
| Management Fee: | 1.00% (PG avg: 0.91%) | Performance Fee: | 0.59% (PG avg: 7.37%) |
| Buy/Sell Spread: | 0%/0% (PG avg: 0.09%/0.08%) | Hurdle: | 1.25% per quarter (5% annualised) |
| Early Redemption Fee | No | High Water Mark: | No |
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La Trobe US Private Credit Fund - Retail Class B
Performance vs Hybrid Private Credit and RBA Cash Rate + 5%
Since inception in Jul 2024, the Fund has returned 6.51% p.a. vs the Peer Group's return over the same period of 8.77%. Over the past 12 months, the Fund has returned 4.09% vs the Peer Group's 8.62%. The Fund's returns have been delivered with a volatility of 1.22% p.a. vs the Peer Group's 1.07%.
| Year | Jan % | Feb % | Mar % | Apr % | May % | Jun % | Jul % | Aug % | Sep % | Oct % | Nov % | Dec % | YTD % |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | 0.20 | 0.49 | 0.50 | -0.82 | 0.64 | 0.81 | 0.18 | 0.64 | 0.39 | NA | NA | NA | 3.06 |
| 2025 | 0.89 | 0.71 | 0.73 | 0.53 | 0.42 | 0.31 | 0.68 | 0.44 | 0.54 | 0.38 | 0.37 | 0.25 | 6.43 |
| 2024 | NA | NA | NA | NA | NA | NA | 0.71 | 0.50 | 0.76 | 1.01 | 0.88 | 1.10 | 5.06 |
| 1 Year | 3 Years | 5 Years | 7 Years | Inception | ||
| Total Return | Fund | 4.09% | N/A | N/A | N/A | 6.51% |
| Peer Group | 8.62% | N/A | N/A | N/A | 8.77% | |
| Index2 | 9.06% | N/A | N/A | N/A | 9.08% | |
| Volatility | Fund | 1.36% | N/A | N/A | N/A | 1.22% |
| Peer Group | 1.48% | N/A | N/A | N/A | 1.07% | |
| Index | 0.10% | N/A | N/A | N/A | 0.08% | |
| Sharpe | Fund | 0.03 | N/A | N/A | N/A | 1.93 |
| Peer Group | 3.00 | N/A | N/A | N/A | 4.21 | |
| Index | 1,100.29 | N/A | N/A | N/A | 1,262.29 | |
| Sortino | Fund | 0.03 | N/A | N/A | N/A | 2.91 |
| Peer Group | 46.15 | N/A | N/A | N/A | 71.15 | |
| Index | N/A | N/A | N/A | N/A | N/A | |
| Largest Drawdown | Fund | -0.82% | N/A | N/A | N/A | -0.82% |
| Peer Group | 0.00% | N/A | N/A | N/A | 0.00% | |
| Index | 0.00% | N/A | N/A | N/A | 0.00% |
Return in Index's 10 Best & 10 Worst Months %
Return in Index's 10 Best & 10 Worst Months %
Annualised Return vs Standard Deviation
La Trobe US Private Credit Fund - Retail Class B - Annualised Return vs. Standard Deviation
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La Trobe US Private Credit Fund - Retail Class B
Annual Returns
Annual Returns %
Drawdown
Drawdown%
Service Providers
| Trustee/RE: | La Trobe Financial Asset Management |
| Custodian: | Perpetual Corporate Trust |
| Administrator: | MS Private Credit Administrative Services |
| Auditor: | Ernst & Young |
| Legal: | N/A |
| Prime Broker: | N/A |
Available on Investment Platforms
No Data.
Key Staff
About AFM's Fund Reviews and Star Ratings
AFM's proprietary Star Rating system provides a quantitative ranking of performance and risk of funds in its peer group relative to similar funds. Funds must have a minimum 1 year track record.
Star Ratings for Performance reflects annualised return. Risk is a combination of downside deviation, maximum drawdown and longest drawdown, which are allocated in reverse.
| AFM Star Rating | Relative performance band compared to funds in the same Peer Group |
|---|---|
| ★ ★ ★ ★ ★ | Premium: The fund is in the top 10% of all funds in its peer group. |
| ★ ★ ★ ★ ☆ | Top Quartile: The fund ranges between 75 and 90% of all funds in its peer group. |
| ★ ★ ★ ☆ ☆ | Second Quartile: The fund ranges between 50 and 75% of all funds in its peer group. |
| ★ ★ ☆ ☆ ☆ | Third Quartile: The fund ranges between 25 and 50% of all funds in its peer group. |
| ★ ☆ ☆ ☆ ☆ | Fourth Quartile: The fund is in the lowest 25% of all funds in its peer group. |
All performances, rankings and Star Ratings are updated monthly. Past performance does not guarantee future performance.
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Disclaimer
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