Frequently Asked Questions

The Fund is a well-diversified portfolio of private real estate credit investments, spanning multiple issuers and managers, loan types, geographies, and vintages (investment years). It provides investors with access to institutional-grade lending opportunities that may otherwise not be available to individual investors.

The Fund offers access to a specialised asset class through a structured and rules-based approach. It is diversified, defensive, and designed to deliver regular income. Active portfolio management ensures robust risk control and consistent performance.

Given the secured nature of the underlying loans (real estate-backed), we believe the Fund is best positioned within Defensive Assets > Defensive Alternatives. It complements traditional fixed income and cash holdings by enhancing yield while maintaining a conservative risk profile.

The Fund’s Administration Manager and Trustee, AMAL Trustees, oversees investor onboarding, approvals, redemptions, and fund accounting.

• Application frequency: Monthly, closing on the last business day of each month.
• Direct investors: All applications and funds must be received, vetted, and approved by the Trustee before the cut-off date.
• Platform and IDPS investors: Applications are processed through the platform custodian under standard platform procedures.
• Portal access: Direct investors can apply via the investor portal. Financial advisers may assist clients, provided proper authority is in place.

IDPS investors

All IDPS investors receive reports directly from their IDPS Operator, not from the Trustee.

Ekam Capital provides reports to each IDPS Operator, while indirect investors should refer to their IDPS Guide for reporting details.

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The minimum initial investment is $100,000. Investments below this threshold may be accepted with Ekam Capital’s approval, subject to Trustee discretion and compliance with Wholesale Client requirements under the Corporations Act. For IDPS investors, this minimum is waived.

Your investment becomes effective once your application is accepted, not when your unit certificate is issued.

Example: If funds are received on 28 July and processed on 30 July, your effective investment date is 30 July, meaning earnings accrue from that valuation period (30 July). Unit certificates are typically issued several weeks later, after unit pricing is finalised (usually six weeks post quarter-end).

Units are priced monthly based on the Fund’s Net Asset Value (NAV). Once the price is finalised, investments are converted into units. Delays can occur due to the timing of underlying data, which ensures accuracy. Once finalised, monthly reports are issued to investors and advisers.

Investors may make additional investments at any time via:

• The investor portal (direct investors)
• Their platform or IDPS provider (indirect investors)

Distributions are paid quarterly, generally within 30 business days of quarter-end, allowing time for consolidation of NAV and tax data. Distribution statements are provided simultaneously.

For the 30 June (EOFY) distribution, payments are typically made in two instalments:

• Partial payment: mid-September (pre-tax finalisation)
• Final payment: late September to mid-October (after receipt of all underlying tax data)

Indicative schedule:

• Q1 (31 Mar): mid-May
• Q2 (30 Jun): partial mid-Sep, final mid-Oct
• Q3 (30 Sep): mid-Nov
• Q4 (31 Dec): mid-Feb

Dividend Reinvestment Plan (DRP)

Investors may reinvest distributions via the DRP, purchasing additional units at the prevailing unit price. To participate, contact the Trustee to make an election.

Note: DRP is generally unavailable for IDPS investors due to custodian limitations. These investors may instead accumulate distributions and reinvest through an additional application (the $100,000 minimum does not apply).

Redemption windows open every 30 days. Requests must be submitted before month-end and are reviewed within 90 days. Redemptions are not guaranteed and depend on Fund liquidity.

Investors planning to redeem should provide 3–6 months’ notice to ensure smooth processing.

• Reporting: Monthly, quarterly, and periodic reports are provided.
• Access: Direct investors can view holdings via the investor portal; IDPS investors access details through their platform.

Tax statements

Tax statements are generally issued between September and October following the end of the financial year, once all underlying data has been received.