Overview

The Banner Ebisu Income Fund is a pooled, managed investment scheme for wholesale investors. The fund invests in mortgages and other forms of property-related debt, including investments into BWFIIF sub-schemes. As a pooled fund, the investor has a share of the fund’s assets but no interest in a specific asset. Investors are paid returns calculated across the fund’s investments.


The Fund

What type of investment is this?

The Fund is an unregistered managed investment scheme structured as an a unit trust. Investment in the Fund is limited to Wholesale Investors. The Fund provides Unit Holders with income returns by acquiring investments in Australian property debt and mortgage securities, including interests in other managed schemes operated by the Trustee.

 

What can the fund invest in?

The Fund will invest in ‘Authorised Investments’ comprising mortgages, but may also invest in other funds where the investment is secured by first mortgage, and cash.



Key Terms
  • Fund Size: Open-ended. There is no cap on the size of the Fund.
  • Fund Structure: An unregistered managed investment scheme structured as a unit trust. The rights and obligations of the Trustee and the Unit Holders are governed by the terms of the Trust Deed.
  • Term: There is no set term of the Fund.
  • LVR: The ratio of the loan amount by the Fund to the independently assessed value of the Security Property. Investment by the Fund will not exceed 90% of the assessed value of the Security Property (if a development project the Gross Realisable Value will be measure used. The Trustee may lend up to 100% of the loan-to-cost ratio for development). The average LVR of the Fund is at the date of this Fund Summary.
  • Minimum initial investment: $500,000.
  • Minimum holding: $100,000.
  • Applications: Applications are made by completion of the Application Form attached to the Information Memorandum and will be accepted from qualifying wholesale investors.
  • Distributions: The Trustee pays distributions of its distributable income (after deducting fees and expenses of the Fund) annually, within 90 days of 30 June in each year. Investors may choose to reinvest their distribution or receive cash.
  • Management Fees and Expenses: 2% per annum of the gross asset value of the Fund.
  • Redemption requests: A minimum holding period of 12 months applies to Units. Unit Holders may request a redemption of units any time after 12 months, on 90 days' notice.
  • Reports: Monthly performance reports.
  • Financial Year: The financial year of the fund is 1 July to 30 June.

The key terms are not an exhaustive summary and you should read the Fund’s Information Memorandum before deciding to invest in the Fund.


Find out more about this fund.

Get in touch directly with our investor relations team to start your Banner investment journey.

+61 3 9929 6400
enquiries@bannerassetmanagement.com
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