T. Rowe Price’s OCREDIT Issues Distributions of $0.87 per Share for First Quarter

T. Rowe Price’s OHA Select Private Credit Fund (OCREDIT) has announced impressive distributions for the first quarter of the year, including a special distribution of $0.18 per share. With an annualised distribution yield of 9.8 per cent as of 31 March 2024, the fund continues to perform in line with expectations.

OCREDIT’s chief executive, Eric Muller, expressed confidence in the fund’s performance, citing robust interest income and attractive all-in asset yields. Last year, OCREDIT returned a weighted average yield on debt and income-producing investments of 12.7 per cent, with net investment income per share increasing to $1.05 by the end of March 2024.

The fund’s earnings per share were $1.02 at the end of the first quarter, with an annualised total return of 15.89 per cent since inception. Additionally, the net asset value per share increased to $28.15, up 0.5 per cent from the previous quarter.

In a significant development, OCREDIT launched on its first major wirehouse platform on 10 April 2024, expanding its reach among US intermediaries. T. Rowe Price’s head of US intermediaries alternatives sales, Doug Keller, highlighted the success of this launch, emphasizing the partnership between T. Rowe Price and OHA in delivering private credit expertise to individual investors.

Overall, T. Rowe Price’s OCREDIT fund continues to demonstrate strong performance and growth potential, attracting investors with its compelling investment opportunities and credit-first approach in the dynamic market environment.