Since its inception in 2000, Angas Securities has prided itself on recruiting and retaining quality people for its operations. This month marks the 10 year anniversary of valued staff members Beata Mitkas (Chief Financial Officer) and Linley Vogel (Investor Relations Manager).
Beata Mitkas (pictured on the next page with the Managing Director) joined Angas on 13 September 2004. She grew up in Perth, where her parents still live, and graduated from Curtin University in 1999 with a Bachelor of Commerce degree. Her first job, whilst still at university, was with CSR Building Materials. Prior to joining Angas, Beata worked mainly in the financial services sector for companies such as TD Waterhouse and JP Morgan. Marriage saw Beata move to Adelaide in 2001. Her senior role at Angas means Beata is responsible for preparation of the annual and half yearly financial statements, preparation of management reports for monthly Board presentation, implementing cash flow management strategies, analysis relating to investing activities, statutory and revenue compliance and supervision of accounts payable. “From a professional point of view, I enjoy working for an evolving national financial services business that has grown significantly over the past 10 years with the introduction of two managed investment schemes - Angas Prime Income Fund and Angas Contributory Mortgage Fund” said Beata, “And from a personal point of view, the office atmosphere where we can have a laugh amidst the day to day pressures makes coming to work a pleasure!”
A week after Beata, Linley (pictured right) started at Angas and remembers, “When I joined Angas Securities, we were using Prospectus No. 4 and the Debenture Fund stood at about $60m - it is now around $240m! And two new investment products have been launched.” Many of the investors from those days are still investors with Angas and Linley says that her continuing interaction with them is one of the most satisfying parts of her job.
The full version of the September Investor News can be downloaded here
A key driver of the success of APIF has been developing good relations with investors (whose funds are utilized) and business introducers (which generate the investment opportunities). Another key driver is the talented staff of Angas Securities comprising investor relations, finance, administration, compliance, risk management, credit assessment and lending. The quality and professionalism of Angas Securities service standards and operational procedures is at the frontline of retaining the business of our investors and other stakeholders.
Through APIF being successfully launched, Angas Securities has developed a model suitable to modern business and regulatory environment whilst retaining a level of operational flexibility. Our staff members are skilled and experienced. Our systems are robust and have withstood the impact of subdued economic environment of the last few years. Our track record has fortified the loyalty and support of our stakeholders. In this competitive world, personalised service is not only appreciated by customers, it is the smart thing to do.
The complete newsletter can be downloaded here to be read in full.
Information and communications technology health check ticks all the boxes
Angas is highly regarded for its personal approach to all aspects of its business. Having staff readily available in person or by telephone to address investor queries stands Angas apart in this less personal age.
But staff require good support systems so Angas engaged with its ICT provider to determine if its ICT environment was adequate for existing business requirements. Angas requires a stable infrastructure platform with appropriate hardware and software applications in order to deliver high quality service to its investors and to take advantage of all available business opportunities. A brief was delivered by Angas to Iocane to undertake an initial ICT health check to audit the existing environment and identify any issues that needed to be addressed. Iocane’s health check reviewed the existing position of the infrastructure to determine any gaps, issues, risks and opportunities. From the audit, Iocane delivered a comprehensive report to Angas including an issues register and recommendations. “Our initial objective was to establish a reliable ICT partner and a reliable ICT environment. Iocane’s health check process allowed us to take stock of our entire ICT environment and holistically assess our requirements in line with our business needs. Iocane helped us to determine the right solutions to stabilise and support our ICT environment” said Kate Dermody, Angas Operations Manager.
To read the full newsletter, it can be downloaded here
As regular readers of Investor News would know, Angas relaunched the Angas Prime Income Fund (“APIF”) in January 2014 offering investors a Target Rate of 7.5%pa. The Target Rate is set based on the expected performance of the Fund over the next 12 month period.
Angas is pleased to announce that the Target Rate has been met each and every month since January 2014.
This will come as no surprise to long standing Angas investors who have always had their interest payments made in full and on time. A Target Rate is not the same as the Fixed Rate that is offered on Angas’s other investment products, and it may vary from time to time during the term of the investment. It is reviewed by Angas quarterly in February, May, August and November each year. At its May 2014 meeting, the Angas Board confirmed the Target Rate of 7.5% for the APIF, meaning there will be no rate change until at least 1 October 2014. Any change to the Target Rate will be advised to investors in writing and reflected immediately in distributions paid.
In the aftermath of the GFC, the Board of Angas Securities held a dedicated planning meeting with a range of investment and finance consultants and advisers over two days in mid 2009.
Amongst the trends identified by the Angas Board was the strong regulatory preference for mortgage trusts. Angas knew that its investors were familiar and comfortable with the established debenture model which had worked well for many years and continues to do so. However, the view expressed in 2009 was that the investment and finance industry was expected to be more regulated post GFC resulting in additional costs and restrictions for the less favoured products. this has proven to be the case. hence, the Angas Board resolved to develop a new mortgage trust product to compliment its successful fixed interest debenture issue. A series of steps followed leading to the successful relaunch of APIF late last year.
The complete edition of the May 2014 Investor News is available to view here
The Board of Angas Securities is pleased to announce the appointment of Duane Davies as General Manager of the Angas Prime Income Fund (APIF).
Duane is already well known at Angas, having joined the company in January 2010 in the role of Business Origination Manager for the Lending operations of the company. His new position will incorporate his current role, as well as taking on responsibility for the overall management of APIF. As General Manager, Duane will co-ordinate the breadth of administrative functions including operations, information technology, investor registry and website, through to compliance and liquidity monitoring. He will oversee lending processes, loan settlement and management but will not be involved in credit approvals which will be kept strictly separate.
Angas Securities has marked the commencement of the 15th year of operations by expanding its product range with the launch of the Angas Prime Income Fund (APIF). Managing Director Matthew Hower said the drive into the managed investment scheme market was driven by changes to the regulatory environment and by Angas’ desire to meet the needs and expectations of its investors. Angas Securities acts as Responsible Entity for APIF, which comprises first mortgage loans and cash.
Angas utilises a range of methods to keep investors informed about the operations of the company’s business. Investor News is posted to investors each month. The website is regularly updated. One on one contact by investors with Angas is encouraged. Investors can visit Angas offices coast to coast or can telephone Angas to speak direct with investor relations staff. Angas does not operate a call centre. Investors can access Angas personnel who all have a deep understanding of the company’s operations.
The complete Investor News is available for download here
Angas has been rated by Standard & Poor’s for many years. When regulatory changes prevented Angas from providing the Standard & Poor’s rating to retail investors, Angas obtained a Rating Report from Atchison Consultants in 2009. This report could be released to retail investors because Atchison Consultants hold an Australian Financial Services Licence which permits it to do so. Atchison Consultants consists of a team of investment professionals with extensive experience in all aspects of financial markets. Its principal focus is the provision of advice and analysis across all components of managing investment portfolios. Primarily this involves real property and related mortgage investments. The Angas Board felt that it was timely for Atchison Consultants to review the current performance of the company in light of the five years which have elapsed since the last report.
The complete newsletter is available to download here
Angas Securities has launched a new investment product designed to provide healthy income for investors to beat the current low interest climate.
Angas Prime Income Fund is a pooled first mortgage fund that is managed by Angas Securities. The key features of the traditional investment product offered by Angas Securities will remain. Some other features have been stripped out to reduce overhead expense in order to increase the return to you, the investor. A new feature is an incentive based performance fee. It works this way. Revenue generated from the mortgage portfolio each month is applied first to the Management Fee to meet operating overheads and next to the Investor Distribution up to the Target Rate. This is currently 7.5% per annum. Angas Securities receives its Performance Fee from whatever remains. So Angas Securities has an incentive to pay the Target Rate. The Fund is primed to deliver healthy investment income.