AFM Fund Profile — ASCF High Yield Fund

Fund & Manager Details

Key Facts

Fund Type: Single Discretionary/Quantitative: Discretionary
Strategy: Private Debt/Mortgage FUM (millions): AU$135.51m
Style: N/A Fund Inception Date: Since 01 March 2017
Geographic Mandate: Australia Latest Return Date: February 2024
Fund Domicile: Australia Investor Type: Retail
Status: Open Reporting Status: Current

Manager Details and Fund Description

Manager: Australian Secure Capital Fund Total FUM for all funds: AU$208.89m
Manager Overview:
Established in 2016, Australian Secure Capital Fund Ltd (ASCF) is a Brisbane based fund manager operating three pooled mortgage investment funds: ASCF Premium Capital Fund, ASCF Select Income Fund and ASCF High Yield Fund.

Unlike peer to peer lending, where investors will invest directly in a single loan, all investments in ASCF funds are spread across the entire pool of loans. This helps to minimise the impact of any losses incurred by a Fund.

ASCF does not provide any construction or development funding to property developers.
Fund/Strategy Overview:

ASCF High Yield Fund provides short term 1st and/or 2nd mortgage loans to a maximum Loan to Valuation Ratio (LVR) of 80% for a maximum term of 12 months on residential and commercial property. Does not require full valuations on loans <65% LVR. Borrowing rates are from 12% per annum on 1st mortgage loans and 16% per annum on 2nd mortgage/caveat loans. Pays investors between 6.50% - 7.75% per annum depending on their investment term.

Other funds operated by manager:
ASCF Premium Capital Fund, ASCF Select Income Fund

Investment Details

Investment Terms

Minimum Investment: Minimum Additional Investment: Minimum Term: Investment Frequency:
AU$5,000 AU$5,000 1 Months Daily
Regular Savings Option: Regular Savings Min. Amount : Regular Savings Max. Amount : Regular Savings Freq.:
No N/A 
Redemption Notice: Redemption Frequency: Notes:
1 Months Daily
Redemption notice is 1-3 months dependi...
Distributions: Distribution Frequency: Last Distribution Date: Last Distribution Amount:
Yes Monthly AU$

Structure

Offshore/Onshore: Fund Structure: Share Classes: Trustee/Responsible Entity:
Onshore Unit Trust AU$ Australian Secure Capital Fund Ltd
Administrator: Prime Broker: Custodian: Legal:
N/A N/A Certane CT Pty Ltd McMahon Clarke

Fund Fees

Management Fee: Performance Fee: High Water Mark: Hurdle:
% % N/A N/A
Buy Spread: Sell spread: Early Redemption Fee: Fees Notes:
% % Yes Management and Performance Fees not app...

Performance & Risk

Returns

Latest Return Date: Latest Result: Fund Inception Date: Annualised Return:
February 2024 0.59% 01 March 2017 8.18%
Latest 3 Months: Latest 6 Months: Latest 12 Months: Latest 2 Years p.a.:
1.83% 3.61% 7.13% 6.82%
Latest 3 Years p.a.: Latest 4 Years p.a.: Latest 5 Years p.a.: Latest 7 Years p.a.:
6.97% 7.34% 7.66% 8.18%

Performance Statistics

% Positive Months (S.I.): Average Return: Average +ve Return: Average -ve Return:
100.00% 0.66% 0.66% N/A
Best Month: Worst Month: Up Capture Ratio (S.I.): Down Capture Ratio (S.I.):
1.02% 0.35% 61.92% -71.67%
Largest Drawdown (S.I.): Longest Drawdown (S.I.): Current Drawdown (%): Current Drawdown (Months):
0.00% 0 months 0.00% N/A

Risk

Annualised Standard Deviation (S.I.): Downside Deviation (S.I.): Sortino Ratio (S.I.): -
0.40% 0.00% N/A -
Sharpe Ratio (12 months): Sharpe Ratio (3 years): Sharpe Ratio (5 years): Sharpe Ratio (S.I.):
56.89 9.04 10.12 10.82
Please note, Sharpe and Sortino ratios are calculated using the Australian Risk Free Rate

Ranking, Research & Availability

Fund Quintile in its Peer Group (Fixed Income - Debt) as at February 2024

AFM's Quintile Rankings show performance and Key Performance Indicators (KPI's) of ASCF High Yield Fund compared to a peer group of funds with a similar strategy and geographic mandate. Each green square places a fund in one quintile (or 20%) of its peer group - five indicating that the fund is in the top (best) quintile for the corresponding KPI.

As a reference point the equivalent "quintile" performance of the peer group's underlying market index is also indicated by the red dot.

1 Year
3 Year
5 Year
7 Year
ASCF High Yield Fund
RBA Cash Rate + 5%

External Research and Ratings: As reported by each Fund Manager.

No external fund ratings provided

Availability:As reported by each Fund Manager.

Available on Investment Platforms:
OLIVIA123

News & Insights

Australian Secure Capital Fund - Market Update
26 Mar 2024 - Australian Secure Capital Fund
The first weekend of March saw 2019 auctions take place across the combined capital cities, down slightly on the previous year's 2,054, however clearance rates were up, 71.8% in comparison to 66.3% in 2023.
Read more...
Performance Report: ASCF High Yield Fund
6 Mar 2024 - FundMonitors.com
The ASCF High Yield Fund rose by +0.59% in February, outperforming the Bloomberg AusBond Composite 0+ Yr benchmark by +0.89%. Since inception in March 2017, the fund has returned +8.18% per annum, an outperformance of +6.69% relative to...
Read more...
Australian Secure Capital Fund - Market Update
27 Feb 2024 - Australian Secure Capital Fund
The November RBA meeting brought the 13th interest rate increase for the cycle, raising rates by 25 basis points, bringing the cash rate to 4.35%. This increase was anticipated following the uptick in inflation as reported in the last...
Read more...

Fund Documents

Product disclosure/IM

Target Market Determination



Fund Performance

Historical Performance (all figures shown here are net of fees unless otherwise stated)

Year Jan % Feb % Mar % Apr % May % Jun % Jul % Aug % Sep % Oct % Nov % Dec % YTD %
2024 0.60 0.59 N/R N/R N/R N/R N/R N/R N/R N/R N/R N/R 1.20
2023 0.53 0.49 0.55 0.55 0.55 0.55 0.58 0.56 0.56 0.59 0.59 0.62 6.95
2022 0.56 0.50 0.55 0.54 0.55 0.53 0.53 0.53 0.52 0.54 0.51 0.53 6.55
2021 0.65 0.59 0.61 0.61 0.62 0.60 0.61 0.61 0.58 0.59 0.56 0.57 7.46
2020 0.72 0.66 0.73 0.71 0.73 0.68 0.68 0.70 0.68 0.68 0.66 0.67 8.62
2019 0.72 0.67 0.73 0.72 0.71 0.75 0.75 0.74 0.70 0.72 0.68 0.73 8.97
2018 0.81 0.71 0.76 0.66 0.74 0.75 0.79 0.74 0.70 0.70 0.72 0.74 9.18
2017 N/R N/R 1.02 0.92 0.95 0.95 0.57 0.35 0.84 0.83 0.80 0.75 8.27

Historical Financial Year Performance (all figures shown here are are percentage per month net of fees unless otherwise stated)

Year Jul % Aug % Sep % Oct % Nov % Dec % Jan % Feb % Mar % Apr % May % Jun % FYTD %
2023/2024 0.58 0.56 0.56 0.59 0.59 0.62 0.60 0.59 N/A N/A N/A N/A 4.80
2022/2023 0.53 0.53 0.52 0.54 0.51 0.53 0.53 0.49 0.55 0.55 0.55 0.55 6.56
2021/2022 0.61 0.61 0.58 0.59 0.56 0.57 0.56 0.50 0.55 0.54 0.55 0.53 6.95
2020/2021 0.68 0.70 0.68 0.68 0.66 0.67 0.65 0.59 0.61 0.61 0.62 0.60 8.03
2019/2020 0.75 0.74 0.70 0.72 0.68 0.73 0.72 0.66 0.73 0.71 0.73 0.68 8.89
2018/2019 0.79 0.74 0.70 0.70 0.72 0.74 0.72 0.67 0.73 0.72 0.71 0.75 9.05
2017/2018 0.57 0.35 0.84 0.83 0.80 0.75 0.81 0.71 0.76 0.66 0.74 0.75 8.91
2016/2017 N/A N/A N/A N/A N/A N/A N/A N/A 1.02 0.92 0.95 0.95 3.90

General Notes

Performance shown is the aggregate return for all investors across all investment terms (3, 6, 12 and 24 months). Redemption notice is 1-3 months depending on investment term.