FIXED INTEREST RETURN OF 6.5% p.a.
About the Fund
This fund provides eligible investors an opportunity to participate in the NZ Securities First Mortgage Fund.
NZ Securities First Mortgage Fund was established in 2022. The fund provides investors with a fixed interest return of 6.5% per annum on their investment with maturity dates from 12 months to 3 years. The fund is secured against first mortgages primarily over New Zealand residential property.
All the funds raised by NZ Securities First Mortgage Fund are advanced to Spinnaker Nominees who has agreed to maintain a minimum equity requirement of 5.0% of its total assets. This results in the manager of the fund investing up to $5 million of their own funds into the fund which ranks behind the investor funds in priority. This provides comfort to investors that the manager has their own funds at risk.
The recent changes to the New Zealand banking market and an increased demand by housing developers for residential house development funding has created an opportunity to provide secure first mortgage loans. The loans are well secured with a first ranking registered mortgage over the properties, a general security agreement providing security over the assets of the borrower (where applicable) and unless otherwise specifically agreed, personal guarantees.
Fund Manager
Tom
Huang
Tom has been involved in many significant property transactions in excess of NZ$3 Billion of property acquisitions, mainly for the Auckland Market including the provision of real estate services, property and due diligence advice.
Director
Martyn Reesby
Martyn has been involved in the finance industry for over 40 years. He is a director of Reesby & Co and Spinnaker Capital Limited which has sourced or provided over NZ$20 Billion of property finance in New Zealand in the last 30 years.