M&G Diversified Private Credit Feeder LTAF

M&G Diversified Private Credit Feeder LTAF is an open-ended vehicle launched by M&G in 2025 and structured as a UK ICVC/OEIC authorised under the LTAF regime. As the name indicates, it operates as a feeder, channelling investor subscriptions into an underlying master portfolio rather than originating positions directly, and it is denominated in GBP. The LTAF wrapper is designed for assets that cannot be traded daily, pairing an evergreen share class structure with dealing and notice arrangements calibrated to the liquidity of the underlying loan book; investors should read the dealing terms alongside the prospectus, since the feeder's redemption mechanics are ultimately governed by the master's ability to realise assets.

The portfolio sits in private debt and follows a multi-strategy approach, meaning exposure is spread across more than one private credit sub-strategy rather than concentrated in a single lending format. Within the database it is one of 148 private debt vehicles tracked across 494 funds in total, and one of 31 domiciled in United Kingdom. The intersection is narrower: it is one of only 7 private debt funds domiciled in United Kingdom, a reflection of how recently the LTAF framework was introduced relative to offshore and EU alternatives.

Distribution is domestic, so the vehicle is positioned for UK investors, including defined contribution pension schemes and wealth platforms able to accommodate non-daily liquidity within a regulated open-ended wrapper. The EU long-term fund regime does not apply here, and cross-border marketing outside United Kingdom is not part of the current structure.