Key Highlights

  • The units traded at $14.50 on 9 November 2026, up 21 cents or 1.46 per cent from the previous close of $14.29.
  • All holdings are financial services companies listed in the United States, with lending businesses forming the core of the portfolio.
  • The fund has a reported size of about $210.67 million and holds 31 companies.
  • Management fees and costs are 5.57 per cent a year, while the stated annual Yield is 12.35 per cent.

The VanEck Global Listed Private Credit (AUD Hedged) ETF (ASX:LEND) gives Australian investors exposure to listed companies that provide lending to private businesses, mainly through direct loans to mid-sized firms. As at 9 November 2026, the units traded at $14.50, within a bid and offer range of $14.39 to $14.50. The fund sits in the Miscellaneous category, reflecting its specialised strategy, and was admitted to the ASX on 2 February 2024.

Fund fact

Detail

Last price

$14.50

Previous close

$14.29

Fund size

About $210.67 million

Units outstanding

14,742,815

Management fees and costs

5.57% a year

Annual yield

12.35%

How the Strategy Operates

The fund invests directly in the securities that comprise its reference index, which tracks listed private credit vehicles. These vehicles typically originate loans to private companies and earn interest income, which in turn supports the distributions paid to unitholders. The model means that the fund's income depends on borrower repayments and the pricing of loans across the sector.

The hedged label indicates that currency exposure is neutralised back to the Australian dollar. Because the holdings are US-listed, this hedge is an important part of the structure for Australian investors.

Holdings and Concentration

Main Street Capital leads the portfolio at 8.35 per cent, followed by Hercules Capital at 8.33 per cent, FS Investment Corporation at 8.15 per cent and Ares Capital at 8.07 per cent. Blackstone Secured Lending, Golub Capital BDC, Blue Owl Capital, Sixth Street Specialty Lending, Trinity Capital and Capital Southwest complete the top ten.

The ten largest holdings make up 70.58 per cent of the fund, leaving 29.42 per cent across 21 other companies. The concentration means that developments affecting a small number of large lenders can have a material effect on the unit price.

Fees, Yield and Recent Notices

Management fees and costs are 5.57 per cent a year, a figure that reduces the Net Income available to unitholders. The stated annual yield of 12.35 per cent reflects the interest income earned across the portfolio, and yields of this kind often carry higher credit and Interest Rate sensitivity.

The units rose 1.46 per cent during the session, trading between $14.26 and $14.51. Recent filings include the Dividend component details released on 9 November 2026, the Dividend reinvestment plan prices from 2 November and the dividend timetable published in October.

Final Word

The VanEck listed private credit fund gives investors a specialised exposure to US lenders through a portfolio of 31 listed companies, with a high stated yield and a management cost of 5.57 per cent a year. The unit price advanced during the session, and the concentration in the ten largest holdings means lending conditions in a small group of firms carry weight. The dividend component details and product disclosure statement are the most relevant documents for understanding how income is generated.