AltX Credit Fund
Diversified Exposure
Senior, 1st Ranking Mortgage Security
Interest Paid Monthly
8.76% 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
Diversified Portfolio of 1st Mortgage Loans
Target Return p.a.
RBA Cash Rate plus 4.00%
Management Fee
1.75% p.a.
Performance Fee
20% of outperformance above Target Return
Withdrawal Frequency
Semi-Annual (as at end of June and December)
Notice to Withdraw
6 Months
12 months
Loans for Construction / Development
Yes (limit of 25%)
APIR Code
ATX2244AU
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 and, where this is not the case, there must be evidence that the funds are used predominantly for business purposes.
The maximum initial term for each Underlying Loan may not exceed 36 months which may be extended subject to the approval of the Manager. Any extension of the term of the Underlying Loan will also be subject to the terms of the notes in the Loan SPV.
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 vacant land exposure shall not exceed 55%.
Underlying Loans made for the purposes of funding construction will be subject to the following guidelines:
The maximum LVR – 70% of Net Realisation Value (determined on an 'as-if-complete' basis) and
The maximum loan term - 36 months.
Maximum 25% allocation of Class C portfolio to construction funding.
* 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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