Sydney Wyde Mortgage Fund (Contributory)

The Sydney Wyde Mortgage Fund ARSN 108 342 123 is a managed investment scheme registered under the Corporations Act 2001. 

Sydney Wyde Mortgage Management Limited ABN 19 090 567 150 AFSL 245506 is the responsible entity (trustee) of the Fund.

The Sydney Wyde Mortgage Fund has:

• a constitution (trust deed) that complies with the legislative requirements and, amongst other things, sets out the responsible entity’s duties in relation to members;
• a comprehensive compliance plan lodged with ASIC;
• an independent compliance committee that includes two external expert compliance members;
• an independent compliance officer;
• a detailed operations manual;
• a current product disclosure statement;
• a custodian, The Trust Company (PTAL) Limited, appointed to hold the assets of the Fund as agent for the responsible entity.

In addition, Sydney Wyde holds an Australian financial services licence number 245506 permitting us to act as the responsible entity of the Sydney Wyde Mortgage Fund and is subject to the regulatory requirements of that licence. We also hold an Australian credit licence number 245506 and have professional indemnity insurance cover of $5m.

We meet ASIC benchmarks for the valuation of the Fund’s mortgages by requiring all valuers that we instruct to be independent and a member of an appropriate professional body in the jurisdiction in which the security property is located. We appoint a panel of valuers and all valuations must be under the instructions given by us or by solicitors acting on our behalf. We require our panel valuers to hold appropriate professional indemnity insurance.

Disclosures against the benchmarks and disclosure principles required under ASIC Regulatory Guide 45, together with the most recent annual and interim financial statements for the Fund and accompanying letters to investors follow. The benchmark and disclosure principles disclosures are updated at least twice yearly.

A target market determination (TMD) describes:

• For whom a product may be appropriate/inappropriate (target market)
• Any conditions on how the product can be distributed to customers
• The events or circumstances when we may need to review our products and the TMD

It provides general information only and does not take into account any person’s individual objectives, financial situation, needs or circumstances.

We’re required to have TMDs under the Treasury Laws Amendment (Design and Distribution Obligations and Product Intervention Powers) Act 2019, which came into effect on 5 October 2021.

Before applying to invest in the Fund you should consider whether the Fund is appropriate for you, by reading the TMD and the product disclosure statement (PDS) for the Fund and consider obtaining financial product advice.

Before applying to invest in a particular mortgage you should consider whether the loan is appropriate for you by reading the TMD and the relevant Syndicate SPDS and consider obtaining financial product advice.

In providing the PDS and any syndicate SPDS, ASIC requires that we draw your attention to matters regarding investments generally. We point out that in providing the PDS and any syndicate SPDS, to you we have not considered your objectives, financial situation or needs and are not providing you with advice as to whether this is an appropriate investment for your particular circumstances. You should also pay particular attention to the risks associated in section 4 of the current PDS and in the relevant SPDS. We draw your attention to the disclaimer of advice in the PDS. We recommend that you seek independent financial advice.

Change in Auditor: During August 2020 the Company approved a change in the name of the auditor of the Fund. The change was due to an internal change within BDO which has resulted in the auditor for the Fund being changed from BDO East Coast Partnership to BDO Audit Pty Ltd.

A copy of our Credit Reporting Policy is available on request and via the link below. Please also refer to our Statement of Notifiable matters.

If you require any additional information or explanation, please do not hesitate to contact us.