MA Financial Group (ASX:MAF) locked in commitments of AU$171 million from cornerstone investors for its new MA Credit Income Trust, before its pre-listing offer period, set to begin on Jan. 28, according to a Monday Australian bourse filing.

The period is expected to run through to Feb. 10 and the fund will seek to raise up to AU$300 million.

The fund, which plans to give investors access to private credit strategies, is expected to list on the Australian Securities Exchange on March 5, with the ticker "MA1."

It will be structured as a listed investment trust and target a risk-adjusted return of the Reserve Bank of Australia Cash Rate plus 4.25% per annum over a rolling 12-month period, pre-tax, net of all fees and costs.

Its shares rose nearly 1% in recent trading on Monday.