AltX Credit Fund
Diversified Exposure
Senior, 1st Ranking Mortgage Security
Interest Paid Monthly
9.55% p.a.*
*Target Investor Return
Fund overview
Structure
Closed-ended Australian Wholesale Unit Trust
Minimum Investment
AUD $50,000
Income Distributions
Monthly
Investor Eligibility
Wholesale investors only
Underlying Exposure
1st Mortgage Construction Loans Typical underlying loan terms: 12-36 months
Target Return p.a.
RBA Cash Rate plus 5.20%
Management Fee
1.75% p.a.
Performance Fee
20% of outperformance above Target Return
Withdrawal Frequency
As Underlying Loans repay following the end of the Investment Period
Notice to Withdraw
N/A
N/A
Loans for Construction / Development
Yes
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.
Underlying Loans must be made to Australian companies.
The maximum initial term for each Underlying Loan may not exceed 36 months which may be extended subject to the approval of the Manager.
The maximum LVR for any Underlying Loan shall not exceed 70% of Net Realisation Value (determined on an 'as-if-complete' basis).
* Refer to Investment Memorandum for detailed Investment Guidelines
Fund documentation
Investment Memorandum
Review the detailed offering document of the Fund
Supplementary Investment Memorandum
Review the detailed offering document of the Fund
Class Overview
Review an overview of the investment opportunity, fund highlights, key fund terms, investment guidelines and fund structure