How the fund works

PRODUCT DISCLOUSE STATEMENT (ISSUE DATE 1ST NOVEMBER 2012)

Investing into the Fund is a two stage process. The first stage involves applying for registration and being accepted into the Fund generally. The second stage involves your selection of an approved Mortgage and allocation of your investment to the specific Mortgage.

Please refer to the Product Disclosure Statement for full details of the products offered by Assured Management Limited.

Stage One: Registration

Registering in the Fund is easy. Simply complete the Registration Form attached to the Product Disclosure Statement (PDS Issue Date 1st November 2012) and provide identification in accordance with the Identification Guidelines. You may then wish to contact the Manager to arrange for the deposit of your funds.

Your cheque should be made payable to ASSURED MORTGAGE FUND.

Your investment amount is initially deposited in our Application Trust Account with a major Australian bank or building society. As this account does not earn interest, we will invest your moneys in an interest bearing account with a major Australian bank or building society on your behalf. This investment is held in the name of Assured Management Limited ATF "you". We cannot redeem your funds from the application trust account until they are cleared.

At this stage you may elect to sign a General Authority, which will give the manager the authority to choose what Mortgage you will be invested into. This will mean that you no longer have to sign off on every Mortgage summary that you receive.

Stage Two: Investment

As a registered Investor in the Fund you will receive a Mortgage Summary detailing approved Mortgages including information in relation to:-

  • the borrower offering the mortgage, including their creditworthiness;
  • the mortgage itself and the rights that go with it;
  • collateral securities, e.g. guarantees;
  • the property that is to be mortgaged, how it has been valued and by whom, and what is its value;
  • the loan to valuation ratio;
  • any other encumbrance to which the property may be subject;
  • the interest the borrower will pay;
  • application fees payable by the borrower;
  • the interest that you will receive;
  • the term of the loan and the arrangements for repayment.

You may contribute your investment amount to any or all of the Mortgages offered by the Manager at the time of your registration.

If you have elected for a General Authority you will still be sent out a mortgage summary for your new mortgage investment, if you are not happy with this particular mortgage investment, then you will have 14 days in which to contact Assured Management and your monies will be replaced within a 30 day period.

Maximum & Minimum Investment

The minimum investment for each Mortgage is $10,000.00 and multiples of $1,000.00 thereafter, or such other amounts at the Manager's discretion. The Manager will coordinate the contribution of your, and other Investors’ (if applicable), investment amounts until the minimum subscription for that particular Mortgage has been reached. Investment moneys are redeemed from the Application Trust Account and settlement of the Mortgage takes place. The monthly anniversary date of the settlement is the date interest is due to be paid by the borrower.

Income Distributions

Assured Interest Program

Income distributions are paid monthly, directly to your nominated bank account within fourteen days of the interest due date.