First Mortgage Target Returns from 8%-12% Second Mortgage and caveat target from 18%-25%.第一抵押权回报 8%-12% 第二抵押权回报18%-25%.
Your Choice 您的解决方案
In a pooled fund, Benefriends investment manager selects a range of securities and sets the loan to valuation ratio for each security without any input from Investors, with a loss arising from any mortgage security being shared by all Investors.Currently, Mortgage Finance Fund is focused on senior loans, as the major banks have tightened their lending criteria. Senior loans are first in line to be repaid at expiry of the loan or where the loan is enforced while mezzanine is the last. Therefore, senior loans are considered less risky and consequently pay a lower return.在房产债权基金中，利友基金投资经理选择一系列证券并为每种证券设定贷款估值比率，无需投资者有相关经验。目前，非上市房地产债券基金市场以优先级贷款为主，各大银行纷纷收紧贷款标准。优先级贷款在贷款到期时或在贷款被强制执行时首先偿还，而其他贷款偿还级别靠后。
Investors’money is pooled together and invested collectively. Each Investor has a proportionate share in the entire investment portfolio rather than a specific interest in any particular investment.As Investors leave the day to day investment decisions to Benefriends, the experience of the manager and its ability to manage the loans and the Monthly Income Fund’s liquidity position is key to the success of the Monthly Income Fund.投资者的资金汇集在一起，共同投资。每个投资者在整个投资组合中都有一定比例的份额，而不是对任何特定投资的特定利益。由于投资者将日常投资决策留给利友基金，经理人的经验、管理贷款的能力、基金收入的情况、流动资金的状况，这些都是基金成功的关键。
The objective of the Monthly Income Fund is to provide monthly income distributions through a selection of investments in short-to-medium term registered first mortgage loans and provide additional capital protection measures to Investors.From a borrower’s perspective, these types of loans are increasingly prevalent and are often referred to as non-bank lending. Currently in Australia, the big four banks dominate all lending with more than 75% market share. However, in the US, bank finance accounts for less than 40%. We could see this trend from non-banking finance lending replicated here in Australia.房产债权基金适合短期1-3年的投资，房产债权基金通常波动比较小，收益可观， 从投资人的角度来看，这些类型的贷款越来越普遍，通常被称为非银行贷款。目前在澳大利亚，四大银行以超过 75% 的市场份额主导所有贷款。但在美国，银行融资占比不到40%。我们可以从澳大利亚的非银行金融贷款中看到这一趋势。
Why invest with Benfriends
Organic growth has led to a committed loan book exceeding $400m
With substantially more in pipeline opportunities
Proven historic track record with numerous investments made
Exits generating highly competitive returns with no non-accrual loans
Proven capital protection and risk mitigation
More than 94% of loan volumes secured by first mortgage security
Gross average LVR of 63%, LTC of 76%
Average presale debt coverage of 70%
Selection through fundamental credit analysis and deep due diligence
All processes codified into a scalable, unique, best-of-breed loan assessment and management platform
Proven alpha generation through tactical deal selection
Extensive due diligence and active asset management
Highly experienced team
什么是房产债权基金
不动产包括但不限于：写字楼、酒店、产业园区、物流地产、仓储地产等。
由于基金投资的项目是实物资产，所以投资者所拥有的就是实物资产的所有权。
房产债权基金会对不动产进行运营维护，每年绝大部分收益分配给投资者
现金流透明稳定，分红是可以预期的
房产债权基金收益基本是不动产收租、不动产项目运营利润、不动产本身抵押贷款后放贷出去产生的利息
风险相对可控
随着物价上涨，房租也会上涨，地产本身也会增值
可以抵抗通货膨胀
运作方式是大部分收益都要给投资者进行分红，收益是可以预期的
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