Angas Direct (formally Angas Contributory Mortgage Fund or ACMF) is a registered managed investment scheme regulated by ASIC under the Corporations Act.
Angas Securities Limited (‘Angas’) is the Responsible Entity and Fund Manager of Angas Direct, and holds an Australian Financial Services Licence No 232479 issued by ASIC.
Angas Direct offers investors access to direct first mortgage investments secured by real estate property. Angas Direct also provides investors with a Cash Management Option facility to hold funds pending placement in a mortgage investment if required.
Angas Direct is an ‘umbrella’ Managed Investment Scheme that comprises numerous individual mortgage investments, each identified in separate Syndicate PDS. The PDS contains a registration form for an investor to initially become a member of the Fund and be eligible to recieve a Syndicate PDS for mortgage investments.
Each mortgage investment security property stands alone, specifically approved by the investor for their investment criteria and operates independently and separately from any other mortgage security. Each Syndicate PDS contains an application form that allows an investor to opt to invest in a particular mortgage investment.
Mortgages are sourced direct from borrowers or through Angas’ network of finance brokers and introducers. For a proposed mortgage investment, Angas will have received a loan application from the borrower or their broker or representative. The loan application will be assessed in accordance with Angas Credit Policy guidelines.
As a Member of Angas Direct, Angas will provide one or more Syndicate PDS that provides information to investor about a potential mortgage investment for consideration. Mortgage investments offer the members a fixed rate of return, subject to certain factors set out in the Syndicate PDS, and members may select the mortgages in which to invest.
The mortgages are managed by Angas to provide investors with both the security of a registered mortgage over property, and distribution of monthly returns (subject to repayment by the borrower). Angas monitors borrower repayments for overdue payment of interest by borrower, overdue repayment of principal by borrower, overdue production of insurance certificate for security property.
Angas communicates with any borrower that has an overdue interest payment, setting a deadline for arrears rectification, confirming the applicable interest rate based on the terms & conditions of the loan agreement and mortgage, and will manage any collection and enforcement required on behalf of the mortgage investor.
Returns paid on investments are fixed for the term of the mortgage. No investment, mortgage or otherwise, is entirely risk free and in the case of mortgage investments there is a risk to both income and capital. Amongst other things these risks include default by the borrower; changes in market interest rates generally, decline in the value of the security, and/or inadequate risk management strategies by Angas.These are addressed in more detail in the PDS.
Click here to download the PDS. The Angas Direct Supplementary Product Disclosure Statement dated 20 February 2019 can be downloaded and viewed in PDF format here.
Please refer to the main list of Angas NSX announcements for all disclosure updates.
Call us on 1800 010 800 for more information.