AltX Credit Fund
Diversified Exposure
Senior, 1st Ranking Mortgage Security
Interest Paid Monthly
8.36% p.a.*
*Annualised monthly return for November
Fund overview
Structure
Open-ended Australian Wholesale Unit Trust
Minimum Investment
AUD $50,000
Income Distributions
Monthly
Investor Eligibility
Wholesale investors only
Underlying Exposure
1st Mortgage Short-Term Regulated (NCCP) Loans 1st Mortgage Non-Regulated (Non-NCCP) Bridging Loans Typical underlying loan term: 3-12 months
Target Return p.a.
RBA Cash Rate plus 3.50%
Management Fee
1.75% p.a.
Performance Fee
20% of outperformance above Target Return
Withdrawal Frequency
Quarterly (as at end of March, June, September and December)
Notice to Withdraw
6 Months
Nil
Loans for Construction / Development
Yes
APIR Code
ATX2425AU
Fund structure
Investment guidelines*
UNDERLYING LOANS
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.
Non-regulated Underlying Loans will be made to Australian companies and, where this is not the case, there must be evidence that the funds are used predominantly for business purposes.
Regulated Underlying Loans will be made to consumers which will predominantly use the funds for personal, domestic or household purposes for the purchase of residential property.
The maximum LVR for residential property exposure shall not exceed 75%.
The maximum LVR for commercial and industrial property exposure shall not exceed 65%.
The maximum LVR for construction loans shall not exceed 60% of Net Realisation Value (determined on an 'as-if-complete' basis) and
The maximum LVR for vacant land exposure shall not exceed 50%.
* Refer to Investment Memorandum for detailed Investment Guidelines
Fund documentation
Investment Memorandum
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Class Overview
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Fund Fact Sheet
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Fund Rating Report
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