Ann: SOL Conference Presentation Macquarie Australia, page-9

Metrics has two fairly popular listed private credit funds, MXT and MOT. They are each yielding about 8 to 9%. Their sales pitch is that the risk is spread across over a hundred separate short term loans and investing in debt is less volatile and safer than equity. They make distributions monthly. They have raised a fair bit of additional capital lately which is looking for a home. That potentially increases the risk in that it may lead to lower lending standards, but in another way it might reduce risk by spreading the risk over a greater number of loans.