No. 2 Fund Facts

Fund Managers Otago Limited is a Fund Manager and does not offer investors investment advice. For investment advice we recommend that you make contact with a qualified registered investment advisor.

Fund Managers Otago Ltd is licensed under the Financial Markets Conduct Act 2013 as a Manager of the NZ Mortgage Income Trust (No. 2 Fund), the Capital Mortgage Income Trust and the NZ Mortgage Income Trust. VIEW licence here. To view our schemes on the NZ Companies Office website – the Disclose Register.

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Key Investment Points

Fund size
$11.8 million as at 1 December 2017
Minimum Investment
$500
Unit price
$0.926 cents per unit as at 1 December 2017
The value of each unit in the Fund increases or decreases in value as net income accrues during each quarter of the financial year. On the first day of each quarter an income distribution to investors for the prior quarter is determined and paid out. The effect of any distribution is to reduce the unit value by the amount of the income accrual following completion of the distribution. This process then repeats each quarter. A portion of each income distribution made to investors is reinvested in new units in the Fund which has a dilutive effect for all unitholders.
Income Payments
Quarterly / floating rate of return / income can be compounded
Term of Investment
Medium to long term
Fees
No application fees, no entry fees. In the interest of encouraging a stable and planned approach to investment, the Manager has discretion to charge a fee of up to 2% on any money withdrawn 12 months after investment and up to 1% on any money withdrawn more than 12 months but less than 24 months after investment.

Return to Investors1

returntoinvestors

Where the Fund is invested – the mortgage portfolio4

 

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National spread of mortgage securities

 

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NOTES: On the 18th October 2007 NZ Mortgage Income Trust No.2 Fund was formed. All information on this page relates to the NZ Mortgage Income Trust No. 2 Fund current to the 11 December 2017, unless stated otherwise. For further information please contact your adviser or click here to obtain a copy of our current product disclosure statement.

1. The above return is based on a $1 unit value and on an investor being in the Fund for the entire quarter. Any investor who joined the Fund or withdrew from the Fund during the quarter would not necessarily earn the same return. The return to investors is calculated quarterly, after all fees and expenses have been deducted, and is expressed as a per annum equivalent before tax. Details on the return calculation are set out in the Product Disclosure Statement dated 9 December 2016 relating to the NZ Mortgage Income Trust No. 2 Fund that is available on request. Past returns do not guarantee future performance. Average quarterly returns are the mean average return and have not been compounded.

2. The ‘return for 12 months’ displayed above for the NZ Mortgage Income Trust (No. 2 Fund) is based on an investor being in the relevant Fund for both the entire 12 months to the end of the most recently completed quarter and having elected to have their quarterly income paid out to them at the end of each quarter and is calculated before tax but after fees and expenses have been deducted and expressed as a per annum equivalent before tax.

3. The ‘Compounded return past 12 months’ displayed above for the NZ Mortgage Income Trust No. 2 Fund is based on an investor being in the Fund for the entire year ended 31 December 2017 and having elected to have their quarterly income reinvested in further units and calculated before tax but after fees and expenses have been deducted and expressed as a per annum equivalent before tax.

4. Investments are pooled and invested across the entire mortgage portfolio. The portfolio breakdowns are calculated on dollar values. Averages are the mean average. The “Loan Max %” is the maximum loan amount against registered valuation or purchase price, whichever is lower.