Investing with Merx
To secure your retirement aspirations; to grow wealth and income to live life how you choose. Complement your diversified portfolio with the Merx Private Credit Fund, designed for investors by investors.
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
Investing alongside our investors. Built for stable returns.
The Merx Private Credit Fund invests in loans to unrelated borrowers in the SME and property sectors.
Alignment of interests is our core principle. Merx management is personally invested in the Fund, with investments backed by security against local business and property assets.
PIE tax compliant and structured as a unit trust, the Fund allows eligible investors to keep more of their investment returns while providing flexibility, liquidity, and reduced concentration risk.
Investor Update
Merx Private Credit Fund | Performance Update 31 March 2026
The Quarterly Report for the period ending 31 March 2026 is now available. For investor returns, performance commentary and more, download the report by clicking below.
Our Investment Strategy
The Fund targets attractive risk-adjusted returns through a disciplined approach to private credit investing in New Zealand.
Capital is deployed into carefully selected lending opportunities, with a focus on security, structure, and borrower quality. Returns are primarily generated through interest income, supported by a consistent and structured lending approach.
Governance and Alignment
Governance and alignment are central to the way the Fund is managed. Independent oversight, defined roles, and disciplined decision-making support a consistent approach to risk management.
Directors invest alongside investors, reinforcing a long-term focus on capital preservation and income generation.
PIE Structure Benefits
The Fund is structured as a Portfolio Investment Entity (PIE), which can provide tax advantages for wholesale investors.
- Tax on returns capped at 28%
- Tax paid at source by the Fund
- Simplified year-end tax position
Risk in Private Credit
Private credit investing may provide access to income opportunities outside traditional listed markets, but it also comes with risks investors should understand.
This overview explains risks associated with private credit investing, including how they may affect returns or access to capital, along with some of the measures used within the Merx Private Credit Fund to help manage these risks.
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 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.
Why Invest with Merx
Active management of the portfolio
The management team are experienced and active investors in this space.
Secured Investments
Diversification
Manager has “skin in the game”
The Directors of the Fund Manager are personally invested in the Fund, which keeps their interest aligned with the interests of the investors. Their investments are on the same terms as all other investors in the Fund, ranking equally, and subject to the same terms, and conditions.
Efficiency in pooling investments funds and scale
PIE Tax compliant
The Fund seeks to maintain PIE tax compliant status which provides a tax efficient structure for investors.
Governance and Transparency
Why Invest with Merx
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
- 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.