Governance framework
When considering any investment, attention tends to focus on returns. Equally important is how those returns are achieved and the frameworks that support decision-making. Governance plays a central role in that, shaping how risk is managed, how decisions are made, and how investor interests are protected over time.
Within the Merx Private Credit Fund, governance is reflected in the way the Fund is structured, how responsibilities are defined, and how decisions are made. The following outlines the key elements that support this approach.
Independent Oversight
The Merx Private Credit Fund operates within a governance framework designed to support accountability, consistency, and the protection of investor interests. Independent trustee oversight and custody arrangements form an important part of that framework, supporting disciplined management of the Fund in line with its governing documents and established responsibilities.
Clear Separation of Roles
A clear division of responsibilities supports the way the Fund is managed. Portfolio management, administration, oversight, legal support, and audit each play distinct roles within the broader governance framework. This separation helps provide appropriate checks and balances and supports a disciplined approach to managing the Fund.
Investment Committee Discipline
Lending decisions are made within a disciplined approval framework designed to support consistency and prudent risk management. This reflects the importance Merx places on careful credit assessment, structured decision-making, and maintaining a consistent approach across the portfolio.
Alignment with Investors
Governance is also strengthened by alignment. The directors invest personally in the Fund alongside other investors, meaning they share in the same risks and potential outcomes. This helps reinforce a long-term perspective and a strong focus on disciplined decision-making.
Further Information
More detailed information on the Fund’s governance arrangements is available in the Information Memorandum.
Investors must qualify as “wholesale investors” as defined in Schedule 1 of the Financial Markets Conduct Act 2013. The fund is not suitable for retail investors.
11.63
%
Rolling 12 month pre-tax return
As at 30 June, 2026
Comments from Merx Investors
I have enjoyed investing with Merx and learnt a lot through the process too. Merx have been very transparent with what they do and the communication has been consistent. Wouldn’t be a testimonial without mentioning the returns too, thanks for those. Looking forward to being a part of the journey for years to come.
Luke
There's a lot to be said for a fund where the managers invest alongside their investors. It's a real partnership where the interests of investors are prioritised. The returns to date have been great, the unit structure gives me the flexibility I want, and I've been really impressed with the communication.
Aaron
I've been impressed by how Merx looks after their investors - from how the fund is structured for redemption, reinvestment, and tax efficiency - to the communication and care in understanding my investment goals. It makes a difference - investing alongside managers who are also invested in the fund.
John
Aligned Interests
Aligned interests is a core principle of the Merx Private Credit Fund. As the Fund's management team, we personally invest alongside our investor partners. We have the same risks and potential returns as our investors.
Aligned Interests
Aligned interests is a core principle of the Merx Wholesale 1 PIE Fund. As the Trust’s management team, we personally invest alongside our investor partners. We have the same risks and potential returns as our investors.
- Information Memorandum
Get the detail – fund description, management, fees, risks and more. View the Merx Private Credit Fund Information Memorandum here.
- Investor Application
Complete the Merx Private Credit Fund Investor Application form here. Note: the fund is not suitable for retail investors.