Core Property has reviewed the GEMI First Mortgage Fund, an unlisted wholesale fund that invests in a portfolio of property-backed loans, secured by first-ranked mortgages in Australia and New Zealand.
The Manager, Gemi Investments, is part of the Gemi Group, a Sydney based private investment firm that has been facilitating mortgage-backed investments for over 20 years.
- The Manager is targeting distributions of 8.0% p.a. (paid monthly), which the Fund has paid since it was established in November 2021.
- The principals of Gemi have invested $5M of capital in Manager Units, which provide a first loss position on any capital losses as well as support the target distributions.
- The Fund only invests in first ranked mortgages, and follows the Gemi Fund (with first and second ranked mortgages), which has maintained a 100% preservation of investor capital.
Core Property has rated the Fund as RECOMMENDED.
The Fund is open to Wholesale and Sophisticated investors only, with a minimum investment of $25,000.