Strategies

MaxCap Notes

The MaxCap Notes offers noteholders access to a currency hedged exposure in the underlying MaxCap Investment Trust (MIT). The MaxCap Notes returns reflect the performance of the underlying AUD loan portfolio, less impact of currency hedging, fees and expenses.

This structure provides a streamlined way to access the MIT’s investment strategy of disciplined risk-adjusted returns, principal and interest in the currency, without the need to hold MIT units directly.

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Fund features

Two product options

Investors can choose from First Mortgage or High Yield, depending on their preferred risk appetite and investment return targets.

Prudent management

Established concentration limits by sponsor, sector, geography and investment type ensure diversification that helps to reduce downside risk.

Flexibility and liquidity

Investors can access liquidity with monthly application distributions and redemptions, providing flexibility.

AUD Note

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Key resources

Application terms

First Mortgage

	1 month	3 month	6 month	1 year
Target net return³	0.74%	2.11%	4.26%	8.78%
Net return⁴	0.72%	2.13%	4.32%	9.36%
Monthly cash distributions⁵	0.72%	2.12%	4.25%	8.99%
RBA cash yield	0.34%	0.93%	1.84%	3.78%

Data as of 31 March 2026

USD Note

Key resources

First Mortgage Factsheet High Yield Factsheet Application terms

First Mortgage

	1 month	3 month	6 month	1 year
Target net return³	0.74%	2.11%	4.26%	8.78%
Net return⁴	0.72%	2.13%	4.32%	9.36%
Monthly cash distributions⁵	0.72%	2.12%	4.25%	8.99%
RBA cash yield	0.34%	0.93%	1.84%	3.78%

Data as of 31 March 2026

High Yield

	1 month	3 month	6 month	1 year
Target net return³	0.97%	2.80%	5.68%	11.78%
Net Return⁴	0.89%	2.60%	5.28%	11.24%
Monthly cash distributions⁵	0.89%	2.58%	5.18%	10.61%
RBA cash yield	0.34%	0.93%	1.84%	3.78%

Data as of 31 March 2026

¹ Monthly liquidity includes applications, distributions and redemptions. Redemptions may be delayed by the Trustee in accordance with the Trust Deed and the Interests of Investors.

³ Net returns are calculated using a time-weighted average methodology and assume reinvestment of distributions. Past performance is not a reliable indicator of future performance.

⁴ Net return (after management fees and performance fees) is calculated based on the private management fee and performance fee rates. Past performance is not a reliable indicator of future performance.

⁵ Monthly distributions commenced from October 2024.

The information on this website relating to the MaxCap Investment Trust (Fund) is prepared by MaxCap Investment Management Pty Ltd (ACN 169 902 005, AFSL 462086) (Manager) as the investment manager and issued by Perpetual Trust Services Limited ACN 000 142 049, AFSL 236648 (Trustee) as trustee of the Fund.

The information provided in this website is of a general nature only and has been prepared without taking into account your objectives, financial situation or needs. Before making an investment decision in respect of the Fund, you should consider the current information memorandum.

Neither the Trustee nor the Manager guarantee repayment of capital or any particular rate of return from the Fund, gives any representation or warranty as to the reliability, completeness or accuracy of the information contained in this website. All opinions and estimates included in this website constitute judgments of the Manager as at the date of this website and are subject to change without notice. Past performance is not a reliable indicator of future performance.Note