News and Announcements
FINEXIA Direct Accommodation Income Fund Pays Distribution to Investors
- Published January 11, 2022 12:00AM UTC
- Publisher Wholesale Investor
- Categories Company Updates
Finexia Financial Group Limited (FNX) is pleased to announce that its flagship wholesale managed fund, the “Finexia Direct Accommodation Income Fund” (FDAIF), which was launched in September 2021, has recently achieved a key milestone, making its first income distribution to unit holders.
The open-ended Fund was established to take advantage of an opportunity to invest in a high-quality portfolio of holiday and long-term accommodation businesses, known as ‘management letting rights’. The properties currently within the portfolio are primarily located in the hugely popular coastal Southeast Queensland region. The strategic blend of accommodations (holiday letting and long-term tenancies) has afforded the fund the ability to diversify the income sufficiently to ensure the overall performance is not entirely hinged on one segment of the accommodation market.
The “Finexia Direct Accommodation Income Fund” is exclusively aimed at wholesale and qualified sophisticated investors, seeking enhanced returns through regular (monthly) income distributions. The targeted return, as stated in the disclosure document, is 12.00%pa net after costs and is paid monthly in arrears. This forecast return has been based on analysis conducted on the independent income verification reports commissioned prior to the acquisition of each of the underlying businesses. Earlier this week, the fund paid to the FDIAF1 unit holders $0.00987 per unit, the equivalent of 12.02%pa as its maiden distribution. This entitlement is only available to unit holders in the Fund.
As the investment manager, Finexia will apply a disciplined and measured approach to growing the total assets under management within the Fund. Finexia’s Mr Patrick Bell declared, “We believe we’ve got the right mix of businesses in the portfolio to grow earnings and importantly maintain the investor distribution. The businesses each have a solid pipeline of bookings going into the traditional Christmas holiday period, and with border restrictions easing, we only see bookings growing strongly in the first half of 2022. Furthermore, we are conducting due diligence on several complementary target properties that fit within our earnings and risk parameters.”
The next distribution for the Finexia Direct Accommodation Income Fund is scheduled for 21 January 2022. Going forward all distributions will be paid monthly on or about the 21st of each month.
Company Updates
The asset class where the market has no vote
Litigation funding returns are decided in a courtroom, not a cycle. Knightsbridge’s Head of Capital is careful to call that a different risk rather than a lower one, and his answer to it is spread, not concentration. Most alternative assets still answer to something. Property answers to rates. Private credit answers to defaults. Even the […]
The listing fee vendors pay whether the house sells or not
Australia’s property portals collect more than $2 billion a year while national listings sit flat. An Australian-built AI platform is targeting the economics, not just the interface. An Australian vendor listing a home pays a vendor-paid advertising fee on top of agency commission. Rama Dwarapudi, Founder and Chief Executive Officer of RealSearch, puts a typical […]
Reinventing the Condom: How an Australian Deep-Tech Startup Plans to Disrupt a $12 Billion Market
For more than half a century, the global condom industry has remained fundamentally unchanged, constrained by standard materials like latex and solid synthetic polymers. Despite widespread consumer demand for better alternatives, product design has treated the device strictly as a mechanical barrier, sacrificing feel for function. Sydney-based Eudaemon Technologies is setting out to upend that […]
Backed By Leading Investment Groups and Family Offices
