Analysts see ‘minimal’ outflow impact for Metrics

Mike Taylor

Managing Editor and Publisher

20 March 2025

Analysts have played down the possible outflow impacts of reports that Count Limited has informed its advisers that around three funds run by Metrics Credit Partners are not worthy of being included in client’s portfolios.

A report in the Australian Financial Review said that Count had told its advisers it was conducting an out-of-cycle review of private credit and placed a sell recommendation on the Metrics Master Income Trust and Metrics Income Opportunities Trust and the unlisted Direct Income Fund.

However, analysts were yesterday noting that Metrics had subsequently held a webinar in which it claimed Metrics had limited to no exposure or contact with Count Limited.

Wilson Advisory said that, as a consequence, it saw the net outflow risk from the Metrics funds as “minimal”.

In Metrics webinar, managing partner, Andrew Lockhart said that neither he nor any of his team had ever met with anyone from Count Limited and he was not aware of any due diligence the company may have taken on any of the Metrics funds.

“It is my understanding that on a number of occasions over most recent years, the Pinnacle investments team have sought to engage the team at Count Financial, encouraged to come and meet with the team at Metrics, those requests for a meeting and to do work in relation to understanding our funds have been declined,” he said.

“I am disappointed that the position that they have got to is a recommended redeem, and I’m certainly not aware of any reason why that would be an appropriate recommendation for an investor.”

The desirability or otherwise of private credit as an investment and its place on approved product lists (APLs) will be debated at next week’s Financial Newswire Advice, Wealth and Super Conference https://financialnewswire.com.au/upcoming-events/advice-wealth-and-super-rewired-2025/