AltX-Assetline First Mortgage Debt Fund No. 1
AltX-Assetline First Mortgage Managed Debt Fund 1 delivers diversified exposure to 1st mortgage-backed bridging and construction loans
- 1st Mortgage Security
- Diversified Exposure
- Experienced Investment Manager
- Conservative Loan to Value Ratios
- Interest Paid Monthly
Fund Overview
Structure
Australian Wholesale Unit Trust
Minimum Investment
AUD $100,000
Fund Term
24 months, with run-off thereafter as underlying loans repay
Income Distributions
Monthly
Capital Distributions
Pro-rata as underlying loans repay at the end of the fund term
Investor Eligibility
Wholesale investors only
Management Fee
0.25% p.a.
Wholesale Eligible Investors
1st Mortgage Underlying Security
12 Months Fund Investment Period
Fund Structure
Exposure to the most senior part of the capital structure *
Equity
- Lender buffer, borrower first loss
First Mortgage
- Priority claim on interest and principal
- Priority claim on asset
* Illustrative example only. Refer to Information Memorandum for detailed Investment Guidelines.
Fund Performance
RBA Cash Rate vs Fund Performance - April 2022 *
* April 2022 monthly return, annualised variable rate
108 Underlying loans
100% Capital & Interest returned
Investment Guidelines *
UNDERLYING LOANS
- Underlying Loans must be made to Australian companies
- Repayment of all Underlying Loans must be secured by first ranking registered mortgages over Australian real estate
- All Underlying Loans must be supported by guarantees by the directors of the Borrower (or other persons who may control
the Borrower) and a charge that is registered by the lender on the PPSR over the Borrower, a related entity or both - The maximum initial term for each Underlying Loan may not exceed 24 months
- The maximum LVR for any Underlying Loan shall not exceed 65% of Gross Realisation Value (calculated net of GST on a cost to complete basis working backwards
PORTFOLIO
- Fund assets not invested in Underlying Loans must be held in cash, in a bank account in the name of the Fund with one of
the major Australian banks - No individual Underlying Loan exposure may exceed 15% of the assets of the Fund at the time of investment
- The Fund may not take exposure to any new Underlying Loan after 24 months
* Refer to Investment Memorandum for detailed Investment Guidelines
Fund Documentation
Investment Memorandum
Review the detailed offering document of the Fund
Managed Fund Overview
Review an overview of the investment opportunity, Fund highlights, key Fund terms, investment guidelines and Fund structure
Fund Fact Sheet
Review current and historic performance, Fund highlights and key Fund terms
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