AUSTRALIAN MASTERS CORPORATE BOND FUND SERIES

AMCBF SERIES OVERVIEW

The Australian Masters Corporate Bond Fund Series provides investors with the opportunity to gain access to a diversified portfolio of quality corporate bonds, not usually available to retail investors. The funds provide exposure to a diversified portfolio of bonds issued in Australia and denominated in Australian dollars.

The Companies were established to allow retail investors to access the fixed interest market for corporate bonds which continues to provide some of the most attractive risk adjusted returns available for medium term investors. The corporate bond market is not a market retail investors can normally access due to significant barriers to entry and difficulties in obtaining a diversified exposure.

To date there have been five funds in the Australian Masters Corporate Bond Fund Series (AMCBF), with the AMCBF No 5 initially raising over $53.8 million during September 2009 to February 2010, as well as a further $15.3 million and $8.10 million in May and June 2010 respectively. This followed the successful raising of the AMCBF No 1 which raised $54.3 million in June 2008, AMCBF No 2 which raised $35.5 million in September 2008, the AMCBF No 3 which raised $41.5 million in February 2009 and the AMCBF No 4 which raised $72.3 million.

THE MANAGER

The investments of AMCBF5 will be managed by Walsh & Company Asset Management Pty Limited.

The primary role of the Manager is to:

  • Construct the initial portfolio of investments in consultation with the Board
  • Review and present information, research and analysis to the Board with respect to ongoing monitoring of the underlying portfolio and make any required adjustments.
  • Ensure the cash component of the portfolio is managed appropriately to ensure the fund can meet its investment objective of distributing a high rate of income and consistent fully franked dividends, with the potential to receive capital returns throughout the life of the Company.

THE BOARD

The Board will review information, research, and analysis complied by the Manager with respect to economic conditions, the capital markets and market opportunities and meet quarterly to discuss such issues. The Manager is charged with the responsibility of executing the Board’s investment decisions.

The Board, in conjunction with the Manager, will also ensure adherence to strict risk management protocols adopted in managing the portfolios.

AMCBF Series summary

The Funds all intend to pay regular franked dividends and to conduct a full capital return to shareholders upon maturity of the underlying corporate bonds.

FUND

ISSUANCE

FUND SIZE

ANTICIPATED FUND MATURITY

AMCBF No 1 Ltd
June 2008
$54.3 million
Aug 2011
AMCBF No 2 Ltd
Sept 2008
$35.5 million
Aug 2011
AMCBF No 3 Ltd
March 2009
$41.5 million
Feb 2012
AMCBF No 4 Ltd
June 2009
$72.3 million
Dec 2012
AMCBF No 5 Ltd
Feb 2010
$77.2 million
Dec 2015

 

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