DRAFT
Fund Review
La Trobe Private Credit Fund (ASX:LF1)
Performance as at Sep 2026
La Trobe Financial Services Pty Limited, established in 1952, is an independent credit specialist and alternative asset manager in Melbourne and Sydney with over 550 staff. The company focuses on lending to underserved borrowers, primarily through low-doc lending. La Trobe, wholly owned by Brookfield Asset Management, manages funds through La Trobe Financial Services Pty Ltd and La Trobe Financial Asset Management Ltd, both licensed with an Australian Credit Licence. As of 30 Jun 2025, it managed $A 20.44 billion in funds.
| 1 Year | 3 Years3 | 5 Years3 | 7 Years3 | Inception3,4 | ||
| Total Return | Fund | 5.43% | N/A | N/A | N/A | 5.81% |
| Peer Group1 | 8.62% | N/A | N/A | N/A | 8.67% | |
| Index2 | 7.06% | N/A | N/A | N/A | 6.98% | |
| Volatility | Fund | 0.84% | N/A | N/A | N/A | 0.78% |
| Peer Group1 | 1.48% | N/A | N/A | N/A | 1.34% | |
| Index2 | 0.10% | N/A | N/A | N/A | 0.10% | |
| 1Hybrid Private Credit, 2RBA Cash Rate + 3%, 3Annualised, 4Jun 2025 | ||||||
Strategy Description
The La Trobe Private Credit Fund is a managed investment scheme listed on the ASX, aiming to generate risk-adjusted returns and consistent income. It invests in a diversified portfolio of Australian mortgage assets, U.S. private credit assets, cash, and equivalents. The Australian strategy focuses on loans secured by first mortgages over Australian real estate, while the U.S. strategy involves senior secured first-lien loans to U.S. middle-market companies. The fund targets monthly cash distributions and a two-to-three-year investment horizon, with long-term allocation approximately evenly split between the Australian and U.S. strategies.Cumulative Performance
Core Details |
PG = Peergroup Average | ||
| APIR: | Status: | Open | |
| Peer Group: | Hybrid Private Credit | Inception Date: | Jun 2025 |
| Strategy: | Credit | Style: | N/A |
| Geography: | Australia | Domicile: | Australia |
| Investors: | Retail | Distributions: | Monthly |
| Fund Size: | 527.27m | Manager FUM: | AU$ 12,616.57m |
| Applications: | Daily, Initial: AU$ 1 | Redemptions: | |
| Management Fee: | 1.93% (PG avg: 0.91%) | Performance Fee: | 0.07% (PG avg: 7.37%) |
| Buy/Sell Spread: | 0%/0% (PG avg: 0.09%/0.08%) | Hurdle: | 5% p.a. annualised on indirect income-based performance fee component |
| Early Redemption Fee | No | High Water Mark: | N/A |
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La Trobe Private Credit Fund (ASX:LF1)
Performance vs Hybrid Private Credit and RBA Cash Rate + 3%
Since Jul 2025, the Fund has returned 5.81% p.a. vs the Peer Group's return over the same period of 8.67%. Over the past 12 months, the Fund has returned 5.43% vs the Peer Group's 8.62%. The Fund's returns have been delivered with a volatility of 0.78% p.a. vs the Peer Group's 1.34%.
| Year | Jan % | Feb % | Mar % | Apr % | May % | Jun % | Jul % | Aug % | Sep % | Oct % | Nov % | Dec % | YTD % |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | 0.09 | 0.55 | 0.63 | 0.10 | 0.65 | 0.62 | 0.14 | 0.65 | 0.62 | NA | NA | NA | 4.12 |
| 2025 | NA | NA | NA | NA | NA | NA | 0.61 | 0.60 | 0.57 | 0.59 | 0.07 | 0.59 | 3.07 |
| 1 Year | 3 Years | 5 Years | 7 Years | Inception | ||
| Total Return | Fund | 5.43% | N/A | N/A | N/A | 5.81% |
| Peer Group | 8.62% | N/A | N/A | N/A | 8.67% | |
| Index2 | 7.06% | N/A | N/A | N/A | 6.98% | |
| Volatility | Fund | 0.84% | N/A | N/A | N/A | 0.78% |
| Peer Group | 1.48% | N/A | N/A | N/A | 1.34% | |
| Index | 0.10% | N/A | N/A | N/A | 0.10% | |
| Sharpe | Fund | 1.60 | N/A | N/A | N/A | 2.25 |
| Peer Group | 3.00 | N/A | N/A | N/A | 3.38 | |
| Index | 1,090.19 | N/A | N/A | N/A | 1,096.80 | |
| Sortino | Fund | 2.91 | N/A | N/A | N/A | 4.33 |
| Peer Group | 46.15 | N/A | N/A | N/A | 53.05 | |
| Index | N/A | N/A | N/A | N/A | N/A | |
| Largest Drawdown | Fund | 0.00% | N/A | N/A | N/A | 0.00% |
| 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 Private Credit Fund (ASX:LF1) - Annualised Return vs. Standard Deviation
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La Trobe Private Credit Fund (ASX:LF1)
Annual Returns
Annual Returns %
Drawdown
Drawdown%
Service Providers
| Trustee/RE: | La Trobe Financial Asset Management Limited |
| Custodian: | Perpetual Corporate Trust Limited |
| Administrator: | La Trobe Financial Services Pty Limited |
| Auditor: | Ernst & Young |
| Legal: | DLA Piper Australia |
| 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.
Copyright
This report is produced and owned by Australian Fund Monitors Pty Ltd and the contents are Copyright 2025. Distribution is limited to those parties with a current Distribution Licence.
Disclaimer
The information in this report, including financial returns, strategies, and other content (collectively referred to as "Content") has been prepared and issued by Australian Fund Monitors Pty Limited (A.C.N. 122 226 724, AFSL 324476) otherwise referred to as AFM. The information and content herein is designed for holders of an Australian Financial Services Licence or for Wholesale or Sophisticated investors, and does not constitute personal financial advice, and is for general information purposes only. Users of this report or any Content of AFM's websites (the "Websites") should not act or make any financial decision without first seeking professional advice. Whilst the Content has been prepared with all reasonable care from sources which we believe are reliable, no responsibility or liability is accepted by AFM for any errors or omissions or misstatements contained herein.