$100 million FUM for Mariner Mortgage Trust
The Mariner Mortgage Trust (MMT) has passed the $100 million mark in funds under management, after experiencing growth of 152 per cent in 2006.
“MMT is enjoying strong growth. Our relationship with one of Australia’s largest commercial mortgage originators, Ashe Morgan Winthrop, has allowed the trust to receive a consistent and continuing loan deal flow,” Mariner Mortgage Management chief executive John Thomas said.
One of the major factors Mariner identified that led to the significant growth experienced by the fund in 2006 was an increase in the product’s distribution network.
“Funds under management continue to grow and we increased distribution from 37 dealer groups to 96 during 2006, with expanded exposure to the Asgard master trust, Asgard wrap and Avanteos platform,” Thomas said.
MMT is now also offered on the Macquarie Accumulator platform (super and non super).
These distribution channels are a recent addition to MMT’s existing network, which included adviser access through the BT Investment Wrap and Super Wrap platforms, Macquarie’s Investment Manager, Super and Pension Wraps, and Netwealth’s Investment and Super Wraps.
MMT’s focus has been on small business loans and mortgages in capital cities, with a maximum loan to value ratio of 70 per cent and a capacity to service debt ratios more than 1.25 times.
Thomas feels this business model has enabled Mariner to buck the trend that has seen support for mortgage trusts wane over the past year and a half.
“Although overall growth in mortgage trusts has slowed over the past 18 months, many advisers still appreciate a well run, well managed conservative mortgage trust for their client’s investments,” he said.
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