Feeder Fund

KTPCRED-UI-A

KTAM U.S. Private Credit Fund Unhedged Not for Retail Investors (Class A)

9.7045
-0.0045       -0.0463%
*NAV
-
Offer
-
Bid
3,013,255,345.44
*Net Asset Value
*(According to the fund's currency)
  Data as of 31/10/2025

Information

“Fund for institutional and ultra-accredited investors only. This fund’s risks are high and complex.”

 
Fund Type Other funds with policy to invest in private credit. Feeder Fund.
Risk Level 8+
Investment Policy
  • Invests solely in the Class I UD units of the Ares Strategic Income Offshore Access Fund (master fund), averaging no less than 80% of NAV during the financial year.  The master fund invests at least 95% of its NAV in the Class I units of the Ares Strategic Income Fund (reference fund).
  • The reference fund’s aim is to directly invest in originated assets, namely first lien senior secured loans, second lien senior secured loans, subordinated secured and unsecured loans, subordinated debt, and other debt securities.  Investments are predominantly in US private companies.
  • The fund may invest or hold derivatives to hedge against risks, but will not specifically hedge against foreign exchange risks.
  • The fund may also engage in borrowing and repurchase contracts for portfolio management purposes up to no more than 50% of NAV.
Master Fund Ares Strategic Income Offshore Access Fund, which is a sub-fund of Ares Wealth Management Solutions Global Access S.C.A., SICAV-RAIF
ISIN code of Master Fund LU2708805176
Alternative Investment Fund
Manager (AIFM)
(Fund Manager)		 Carne Global Fund Managers (Luxembourg) S.A.
Investment Strategy
(Master Fund)
 		 Under normal market conditions, the master fund aims to invest at least 95% of its NAV in the Ares Strategic Income Fund (reference fund).  The remainder of the master fund’s portfolio is intended to (i) provide liquidity to support redemptions (“liquidity reserves”); and (ii) provide reserves to cover the fund’s liabilities and obligations.  This amount may be in the form of cash, cash equivalents, and/or liquid securities.
Currency (Maser Fund)     US dollars (USD)
Foreign Exchange Risk Hedging Policy (Baht) Unhedged against foreign exchange risk.
Dividend Policy No dividends
Minimum Initial Purchase 500,000 Baht
Minimum Subsequent Purchase 10,000 Baht
Minimum Redemption Amount None
Trading Hours Purchases : Orders to purchase units are accepted on a monthly basis with the first trading day of the month designated as the purchase date for that respective month.  If that date does not constitute a fund trading day, the next trading day shall apply.
 
Investors must submit orders to purchase along with payment in advance, according to schedules prescribed by KTAM, from the start of office hours – 15.30 hrs.  Submit orders to KTAM or a selling agent (if any).
 
KTAM prescribes the deadline for accepting advance orders and the trade date.  Investors are notified in advance through the company’s website, or any other channels KTAM prescribe.
 
Redemptions :
Discretionary redemptions:  Accepted once a month on the first trading day of March, June, September, and December of each year, respectively, or according to other schedules prescribed by KTAM.  If that date does not constitute a trading day, the next trading day shall apply.  Investors must place the redemption order at least 10 business days in advance according to the schedule prescribed by KTAM.  If the deadline for accepting advance orders coincides with a holiday for the Thai fund, the prior business day shall constitute the deadline.
 
KTAM prescribes the deadline for accepting advance redemption orders and the trade date, whereby investors shall be notified in advance through the company’s website, or any other channels KTAM prescribe.
Settlement Payment for Redemptions T+32 business days after the redemption, which does not yet include foreign public holidays and does not yet include the approximately 10 days required to submit the order before the intended redemption date.  Under normal circumstances, settlement is completed within T+5 business days after calculation of NAV; NAV is typically calculated on the first trading day of the subsequent month.
Management Fee Not more than 2.14% p.a.1   (actual rate currently  1.07% p.a.1)
Trustee Fee Not more than 0.214% p.a.1 (actual rate currently  0.0321% p.a.1)
Registrar Fee      Not more than 0.535% p.a.1 (actual rate currently  0.107% p.a.1)
Front-End Fee (Purchase) Not more than 3.21%1 
During IPO  :
  • Investment amount under Bt10m/order:  1.07%
  • Investment amount from Bt10m/order but under Bt30m/order: 0.910%
  • Investment amount over Bt30m/order:  0.749%
Post IPO : 1.25%
Back-End Fee (Redemption) Not more than 3.21%1  (currently waived)
Brokerage Fee Incurred from Transacting Fund Units Not more than 5.35%1 (currently waived)
Exit Fee for premature redemption before 12-month holding period Not more than 5.35%1 (actual rate currently 2.00%)
(Investors are urged to review details about such exit fee from the fund prospectus)
Bloomberg Ticker Ticker : KTPCUHA TB
1 Fees already include value added tax, special business tax and other similar taxes.
 

Portfolio information

Asset allocation proportions (Data as of 31/10/2025)
Securities with the highest investment value 5 First rank (Data as of 31/10/2025)
Securities Credit rating (% NAV)
Unit Trust Ares Strategic Income Offshore Access Fund N/A 97.55
Bank of Thailand Bond 38/91/2025 25/12/2025 N/A 1.27
Investment in other funds exceeding 20% (domestic and/or foreign funds) (Data as of 31/10/2025)
  • Fund Name : Unit Trust Ares Strategic Income Offshore Access Fund
    ISIN code : LU2708805176
    Bloomberg code : ASIFIUD LX

Statistical information (Data as of 31/10/2025)
  • Maximum Drawdown
    -11.48 %
  • Recovering Period
    N/A
  • FX Hedging
    0.00 %
  • Portfolio Turnover Rate
    0.00
  • Sharpe Ratio
    N/A
  • Alpha
    N/A
  • Beta
    N/A

© Copyright 2025 Morningstar Research Thailand. This information (1) is the property of Morningstar and/or its data providers, (2) reproduction or distribution is prohibited, and (3) Morningstar does not guarantee accuracy or completeness and is not responsible for any damages arising from its use. Past performance is not indicative of future results.

Note: Please read and refer to the prospectus summary for more detailed information.

Investors must understand the product features, return conditions, and risks before making an investment decision.

NAV of Fund

Performance results

Time period Past Performance (%)
( Ending on date 31 October 2025 ) 		Volatility (Standard Deviation) (% per year)
KTPCRED-UI-A Benchmark 1 Benchmark 2 KTPCRED-UI-A Benchmark 1 Benchmark 2
Year-to-date return 1.01 - - 4.39 - -
Last 3 months 1.13 - - 1.29 - -
Last 6 months 1.19 - - 4.24 - -
Last 1 year 3.60 - - 4.85 - -
Last 3 years - - - - - -
Last 5 years - - - - - -
Last 10 years - - - - - -
Since fund inception -2.09 - - 12.55 - -

* Peer Group Fund Performance Report by AIMC

Benchmark 1 is None. The master fund does not have a matching performance benchmark as investments are in private credit, which are not listed. Therefore, there is no comparable performance benchmark.

Benchmark 1 is None. The master fund does not have a matching performance benchmark as investments are in private credit, which are not listed. Therefore, there is no comparable performance benchmark.

Annual performance results

Year Past Performance (%) Volatility (Standard Deviation) (% per year)
KTPCRED-UI-A Benchmark 1 Benchmark 2 KTPCRED-UI-A Benchmark 1 Benchmark 2
2024 -3.93 - - 42.72 - -

* Peer Group Fund Performance Report by AIMC

Benchmark 1 is None. The master fund does not have a matching performance benchmark as investments are in private credit, which are not listed. Therefore, there is no comparable performance benchmark.

Note :

  • The fund performance is prepared in accordance with AIMC standards no. สจก.ร. 1/2566 by
    1. Past performance less than 1 year is % for each period (not annualize)
    2. Past performance more than 1 year is % per year (annualize)
  • The assessment of the fund's performance as shown on this website has been in accordance with the assessment standards set by the Association of Investment Management Companies (AIMC).
  • Past performance of the fund may not be indicative of future operation.

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