Metrics Credit Partners suspends three ASX funds after audit triggers asset-value cuts
Australian private credit manager Metrics Credit Partners has suspended trading in three ASX-listed investment vehicles and reduced their reported asset values following changes requested during the funds’ audit process, according to a report by Reuters.
Metrics Credit Partners has suspended trading in three ASX-listed investment funds and reduced their reported asset values following an audit. The funds affected are Metrics Real Estate Multi-Strategy Fund, Metrics Income Opportunities Trust, and Metrics Master Income Trust. The reduction in asset values is due to different conclusions drawn by auditor KPMG compared to preliminary financial reports, particularly concerning valuation inputs and probability weightings.
The largest adjustment was in the real estate-focused fund, with its net tangible asset value falling by 12.16% to AUD2.22 per unit. Metrics stated that the audit led to increased provisions for potential losses on loan exposures across all three funds, reflecting factors such as interest-rate conditions and regulatory expectations.
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