Pengana launches private credit platform for retail investors
Pengana Capital has launched a new online term account platform, providing access to a diversified portfolio of global private credit to everyday Australians.
TermPlus will be accessible with a minimum investment of AUS$2,000 (£1,035) and aim to provide income via floating-rate term accounts. The target rates are calculated as a fixed spread about the RBA cash rate. For a one-year account the target rate is 7.35 per cent, increasing to 8 per cent per annum for a two-year term account. For a five-years this goes up to 8.5 per cent a year.
Investors can receive monthly income or reinvest their earnings.
Pengana expects there to be significant interest from both retail and institutional investors.
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“TermPlus unlocks the world of global private credit to deliver highly attractive target rates for all Aussies, via a modern and user-friendly digital platform that allows investors to open a term account within minutes,” said Dean Weinbren, managing executive of TermPlus.
“TermPlus caters to an extensive list of investor types, including personal accounts, joint accounts, child accounts, SMSFs, companies, and unregulated trusts.”
The group’s strategic relationship with Mercer allows it to provide access to private credit, according to Pengana Capital chief executive Russel Pillemer.
“With TermPlus, Pengana has successfully innovated to democratise a new category of highly sought after, typically inaccessible, investment opportunities for income investors. This is further delivered through an easy-to-use product supported by a hugely sophisticated engine and technology platform,” he added.
TermPlus is the third product launched by Pengana’s credit division. It launched a wholesale private credit fund in October 2023 and will list a private credit trust on the ASX this month.
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