Overview
The Banner Wholesale Real Estate Credit Fund (BWRCF) is a managed investment scheme designed to provide wholesale investors with fixed income yields from specific mortgages over real estate in Australia. The Fund comprises Cash Units and multiple classes of loan units which relate to specific properties. The investor’s return is fixed for each investment and each class of units is segregated from other investments of the Fund. Performance of one class is unaffected by the performance of another class.
The Fund
What type of fund is this?
The Fund is an asset-specific Australian unregistered wholesale managed investment scheme, comprising a number of separate and distinct classes referable to an asset.
What can the fund invest in?
The Fund originates and invests in commercial mortgage loans over property. The terms of each investment are offered to an investor through an investment-specific loan memorandum, which details the commercial terms of the investment.
Key Terms
- Investment Strategy of the Fund: The Fund will invest in Australian debt opportunities secured by registered mortgages for an investment term of typically 1-5 years. Cash Units will be invested in cash.
- Currency: Australian Dollars (AUD)
- Responsible Entity: Banner Capital Management Limited ACN 600 738 181
- Minimum Initial Investment: AUD 100,00 (subject to Manager’s discretion)
- Additional Investments: AUD 50,000
- Redemption Frequency: Loan Unit investments are made for the term of the mortgage loan. Cash Units can be redeemed with five Business Days’ notice. Early redemptions are at the discretion of the Manger.
- Management Fees and Expenses: All returns to investors are net of fees.
- Unit Pricing: Cash Units will be issued at a priced of $1.00 per Unit. Loan Units will be initially issued at $1.00 and then priced according to the Net Asset Value of the Loan Class.
- Eligible Investors: ‘Wholesale Investors’ as defined in the Corporations Act.
- Asset Valuations: All property valuations are undertaken by independent registered valuers appointed by the Manager, and comply with relevant industry standards.
The key terms are not an exhaustive summary and investors must read the Information Memorandum for the Fund 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 6400ir@bannerassetmanagement.com
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