Balmain has investments in a variety of funds management and business lending operations.
Balmain’s strategy is to use its capacity for loan origination to grow vertically
into lending businesses that specialise in the SME sector. By being a shareholder
in these businesses Balmain is able to improve our customer experience and to provide
a wider range of financial products to our clients. To our partners Balmain’s in-depth
knowledge of the marketplace is an important competitive advantage.
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Balmain is a founding and major shareholder in AMAL Asset Management Limited. For
over 16 years AMAL has focused on providing the most efficient and cost-effective
loan servicing solutions to its clients in Australia and New Zealand. And with over
$A6 billion of assets under administration on behalf of over 30 clients, AMAL is
the leading commercial loan and receivables servicer in the region.
AMAL's specialist team, customisable systems platforms and rigorous focus on
quality, risk-management and compliance have resulted in a service offering trusted
by some of the region¹s and the world¹s largest financial institutions.
Balmain was approached by number of high net worth Unitholders of the named City
Pacific First Mortgage Fund, to launch a bid to take over the management of the
Fund. At the same time, Trilogy Funds Management was also approached by a separate
group of Unitholders to take over management. Balmain and Trilogy joined forces
and launched a bid to take over the management of the Fund.
Following a Unitholder vote in June 2009, Balmain and Trilogy¹s bid was successful
and Trilogy Funds Management limited was appointed as Responsible entity of the
Fund and Balmain Trilogy Investment Management Pty Limited was appointed as the
Investment Manager (Balmain Trilogy). Balmain Trilogy appointed Balmain to perform
all credit, administration and recovery functions.
At the time of being appointed, the portfolio consisted of 40 loans, of which 37
were nonperforming loans, with an impaired value in excess of $650 mill. Within
18 months of taking over the Fund, Balmain was able reduce the Funds core debt facility
by $62 mill, extend the funds finance facility for 2 years, undertake recovery action
against all loans, have 5 cents of capital to Unitholders, complete several large
residential development projects, rectify and reposition security assets to restore
and add value and commence legal action against previous service providers who we
believe have caused significant losses to the Fund. Balmain Trilogy continues to
manage the fund in the best interests of Unitholders and it is targeted to return
$295 mill in capital to all Unitholders by October 2012.
With over $A800 million of assets under management on behalf of over 20,000 investors,
Balmain is one of Australia¹s largest mortgage fund managers.
Recent upheaval in the retail mortgage trust sector has upset the status quo and
has created a myriad of new opportunities. During this time Balmain has been acquiring
mortgage funds and leading the industry with the development of revised product
structures to reconcile the requirements of investors and borrowers.
Australia is now home to the 4th largest savings pool in the world and with an aging
population comes the growing need for reliable income streams secured by capital
stable assets. Balmain is well placed within the commercial mortgage industry to
play an ongoing role in the development of this important sector.
Balmain Fund Administration Limited (AFSL 333213) a wholly owned subsidiary of Balmain
NB Corporation Limited (Balmain), is currently the Responsible Entity of two mortgage
funds which are registered managed investment schemes. Balmain (MT) Pty Ltd, a wholly
owned subsidiary of Balmain Funds Management Pty Ltd which in turn is a wholly owned
subsidiary of Balmain, is the investment manager for these schemes. Balmain AQUA
Pty Ltd, a subsidiary of Balmain Funds Management Pty Limited, is currently the
investment manager of three mortgage funds which are registered managed investment
schemes, the responsible entity for these schemes is an independent entity.
Balmain continues to support mortgage funds and is keen to play a role in the continuing
consolidation of the industry.
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Snapshot as at
24 January 2020
Base Rates are our indicative base rates for commercial property lending.
A lending margin is added to these rates depending
on the nature and term of the transaction.
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Disclaimer: While all reasonable care has been taken in the preparation of this information, Balmain take no responsibility for any actions taken based on information contained herein or for any errors or omissions. Interested parties should seek independent advice prior to acting on any information presented.