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SEN Unlisted Mortgage Fund

Sen Capital is a holder of an Australian Financial Services License (AFSL No. 513 200). AFSL License holders are regulated by the Australian Securities and Investment Commission (ASIC). Sen Capital is an investment manager that aims to deliver a range of competitive products and services to our investors. Our business is centered around property funds management including property development and commercial mortgage funds.
Key Features
  • Regulated by Australian Securities and Investments Commission (ASIC)
  • No entry or exit fees
  • Distribution paid half yearly after 31 March and 30 September each year (*)
  • First mortgage lending only, with conservative loan to valuation ratios not exceeding 66.67% of proper valuation
  • Redemption of monies generally available at end of each month (refer below)
  • No related party loans
  • Investment can only be made using the application form that accompanies the current Investment Memorandum (IM)
* The payment of income distributions and the repayment of capital are not guaranteed and there may be circumstances where no distributions are paid. Past performance is not necessarily indicative of future performance.
About The Fund
  • The SEN Mortgage Fund is an unlisted managed investment scheme registered under the Corporations Act 2001.
  • Sen Capital ACN 621978934 AFSL 513200 is the Trustee of the Fund.
  • The SEN Mortgage Fund has:
  • a constitution (trust deed) that complies with the legislative requirements and, amongst other things, sets out the Trustee鈥檚 duties in relation to unitholders;
  • a comprehensive compliance plan lodged with the Australian Securities and Investments Commission;
  • an independent compliance committee that includes two external expert compliance members;
  • an independent compliance officer;
  • a detailed operations manual;
  • a current product disclosure statement;
  • a custodian, Perpetual Corporate Trust Limited, appointed to hold the assets of the Fund as agent for the Trustee.
  • In addition, Sen Capital (ACN 621978934) holds an Australian Financial Services Licence number 513200 permitting us to act as the Trustee of the SEN Unlisted Mortgage Fund and is subject to the regulatory requirements of that licence.
We meet ASIC benchmarks for the valuation of the Fund鈥檚 mortgages by requiring all valuers that we instruct to be independent and a member of an appropriate professional body in the jurisdiction in which the security property is located. We appoint a panel of valuers and all valuations must be under the instructions given by us or by solicitors acting on our behalf. We require our panel valuers to hold appropriate professional indemnity insurance.
Loans

First mortgage loans are secured on real property to a maximum of 66.67% of proper valuation.

Loans will be made secured on various types of property, including residential, commercial, industrial, development sites and vacant land. The loan to valuation ratio (LVR) percentage is a matter of judgement, and will often be less than the maximum LVR of 66.67% depending upon the type of security.

Progress payments will not be made in respect of development loans, and such loans will be limited to an LVR based upon the land value of the development site.

Loans will predominantly be made in respect of securities in the Sydney metropolitan area, but securities elsewhere in New South Wales, Victoria and Queensland may also be considered.

We hold an Australian credit licence and from time to time will consider making loans that fall within the provisions of the National Consumer Credit Protection Act.

See our lending guidelines below.