KiWi Private Credit Fund has extended its profitability streak to 37 consecutive months as the fund returned 0.51% in September. Year to date return is 4.77% or 6.37% on an annualized basis.
With regard to the Consumer portion of the portfolio (40% weighting), we continue to see recovery from COVID as US employment recovers.
Small business credit (30%) remains strong and resilient. As this is a short duration portfolio, an increasing portion of these loans are underwritten and priced to ‘post-COVID’ standards. New borrowers in the Fund are in COVID-positive industry sectors such as auto repair, grocery and liquor stores, cleaning services and PPE wholesalers, IT services, etc.
Real Estate credit (30%) performance has stabilized. There is an increasing pace of repayment as construction financing provided by the Fund is refinanced by long-term lenders as projects are completed.
To learn more, please review our Monthly Portfolio Report, which is available here