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An Investment Statement has been issued in relation to this security and a copy is available from ING New Zealand, tel: 09 356 4000 or 0800 737 575.
NB: The fund managers listed may be reviewed and replaced from time to time.
NB: The Private Portfolio Service Superannuation Fund may invest directly into the Private Portfolio
Service unit trusts as well as other forms of investment.
Administered by   |
Mortgage Fund
Fund description
The objective is to generate capital growth by
investing in a wide range of mortgage assets,
complemented by short-term securities and
bank deposits.
Fund Managers
      Portfolio Mortgage Company Limited
      LM Investment Management Ltd
      Equitable Group
Fund details
Establishment date
25 March 1998
Minimum application
$600
Subsequent investments
$600
Minimum withdrawal
No minimum  (at least 35 days’ written
notice is required)
Minimum standing redemption
$100 per redemption (at least 35 days’
written notice is required)
Minimum switching amount
No minimum (at least 35 days’ written
notice is required)
Entry fee
5%
Switching fee
Nil
Exit fee
Nil
Valuations
Daily
Portfolio Mortgage Company Limited
Direct portfolio of commercial mortgages
Portfolio Mortgage Company is a non-bank lender providing first tier commercial property loans
to New Zealand businesses and investors. Portfolio Mortgage Company is wholly owned by its
directors who have all held senior positions in major banks. They have many years’ experience in
providing property advice and finance for a diverse range of clients and projects.
Fund commenced:
February 2006
Fund objective:
To outperform the CS First Boston 90-day Bank Bill Index over a
market cycle and provide a greater return than bank term deposits.
Primary investments:
First tier medium-term floating and fixed rate advances on
commercial properties.
LM Investment Management Limited
LM Currency Protected Australian Income Fund
Established in 1998, LM Investment Management Ltd (LM) is a privately owned unlisted public
company and is the only Australian fund manager with a specialist focus on the mortgage trust
sector. LM currently has approximately A$1 billion in funds under management, with 100 staff
and offices in Australia’s Gold Coast, Sydney, Hong Kong and New Zealand.
The LM Currency Protected Australian Income Fund invests into the LM Mortgage Income Fund.
Fund commenced:
LM Currency Protected Australian Income Fund - August 2004
LM Mortgage Income Fund - October 1999
Fund objective:
To outperform cash rates on a range of different currencies by
providing a competitive return, which is hedged in the respective
currency against A$ currency movements.
Primary investments:
First mortgages over commerical, residential, industrial, retail, vacant
land, interest-bearing cash investments and ‘at call’ securities.
Equitable Group
Equitable Mortgage Income Trust
The Equitable Group has been highly successful in providing the market with a full range of
mortgage-backed investment products. Equitable has been operating since 1972 and is 100%
New Zealand owned. It manages over $360 million of assets in its specialist niche of mortgage
funds. The Equitable Mortgage Income Trust invests into the Equitable Property Mortgage Fund.
Fund commenced:
December 1996
Fund objective:
To provide attractive fixed income returns and capital stability to
unitholders through investing in an asset base of high-quality
registered first mortgages over commercial and industrial property
throughout New Zealand.
Primary investments:

Registered first mortgages over real property.
 Cash held in registered bank deposits.
10/07