Investor insights

Millbrook Income Fund: Quarterly Insights March 2024


We are pleased to share with you the latest Quarterly Insights for the Millbrook Income Fund.

Read our March 2024 Quarterly Insights here.

The Millbrook Income Fund targets monthly income payments 5% pa above the RBA Cash Rate (net of fees and costs) together with a focus on preservation of capital for investors. The fund is actively managed and uses strict loan criteria to build a quality portfolio of diversified loans secured by registered 1st mortgages and registered/unregistered 2nd mortgages over real property assets in Australia.

Millbrook Income Fund: Quarterly Highlights

The Millbrook Income Fund has seen a modest growth with funds under management rising to $221.42m, contributing to an overall group FUM of $396.6m.

Demand for the fund’s offerings picked up in March after a slow start to the year, with increased competition noted in the 1st mortgage loan sector.

The fund maintains its conservative lending approach with a typical maximum LVR of 65% for 1st mortgages, despite observing competitors offering higher LVRs.

Market insights suggest that interest rates and returns may have reached their peak, with no rate cuts anticipated until late 2024. The fund is well positioned to take advantage of rate movements given the shorter average portfolio duration (~12 months) of the loan book.

Gain further insights by reading the Millbrook Perspective section, featuring a compelling Question & Answer session with Greg Sugars, National Director & CEO of leading property valuation firm Preston Rowe Paterson.

Looking for further investment opportunities?

Consider the Millbrook Income Fund Enhanced, which returned 10.90% pa* for the month of March. MIF Enhanced is a pooled fund spread across a range of 1st and 2nd mortgages, varying loan-terms, locations and real-estate security types.

If you would like to discuss our range of property credit funds investment opportunities, please contact us directly.

*Past performance is not necessarily a guide to future performance.

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