Retail Investor Disclaimer

To the extent that any statement on this website constitutes financial product advice, that advice is general advice only and has been prepared without considering your objectives, financial situation or needs.  You should, before deciding to acquire or to continue to hold an interest in the La Trobe Australian Credit Fund and La Trobe US Private Credit Fund, consider the appropriateness of the advice having regard to your objectives, financial situation or needs and obtain and consider the relevant Product Disclosure Statements for the fund. 

When considering whether to acquire or to continue to hold an interest in the La Trobe Australian Credit Fund and La Trobe US Private Credit Fund, you should remember that (1) an investment in the Fund is not a bank deposit or a term deposit, and is not covered by the Australian Government’s deposit guarantee scheme. Investing in the Fund has a higher level of risk compared to investing in a term deposit issued by a bank and (2) there are other risks associated with an investment in the Fund.  The key risks of investing in the Fund are explained in section 9 of the La Trobe Australian Credit Fund PDS and section 6 of the La Trobe US Private Credit Fund PDS.

A key objective of the Credit Fund is to invest in loans that are secured by real estate mortgages, which are, by their very nature, long term investments. This may in some circumstances potentially impact the ability of the Credit Fund to pay withdrawal requests within the time frames provided for in the Credit Fund Constitution and disclosed in the Product Disclosure Statement. Withdrawal rights are subject to liquidity and may be delayed or suspended by La Trobe Financial in certain circumstances.

The following disclaimers apply to retail investors in the La Trobe Australian Credit Fund .

1. The rates of return on your investment are current at 1 November 2024. The rates of return are reviewed and determined monthly and may increase or decrease each month. The rate of return applicable for any given month is paid at the start of the following month. The rates of return are not guaranteed and are determined by the future revenue of the Credit Fund and may be lower than expected.
2. An investment in the Credit Fund is not a bank deposit, and investors risk losing some or all of their principal investment. Past performance is not a reliable indicator of future performance. Withdrawal rights are subject to liquidity and may be delayed or suspended.
3. La Trobe Financial Asset Management Limited ACN 007 332 363 Australian Financial Services Licence 222213 Australian Credit Licence 222213 is the responsible entity of the La Trobe Australian Credit Fund ARSN 088 178 321.It is important for you to consider the Product Disclosure Statement (PDS) for the Credit Fund in deciding whether to invest, or to continue to invest, in the Credit Fund. You can read the PDS and the Target Market Determination on our website or ask for a copy by calling us on 13 80 10.
4. We will make every endeavour to release your funds after receiving your withdrawal request: 2 business days for the Classic Notice Account, 90 days for the 90 Day Notice Account, and 180 days for the 6 Month Notice Account. However, we have a 12-months under the Fund’s Constitution to fulfil the request. When determining whether to honour your withdrawal request within the specified timeframes we have to have regard to the Fund’s ability to realise for value the relevant assets and the best interests of investors. While there is a risk of not honouring your withdrawal request within 2 business days, 90 days, or 180 days, it’s important to note that there has never been a case in the history of the Fund when we have not honoured a withdrawal request on time due to a lack of liquidity.

The following disclaimers apply to retail investors in the La Trobe US Private Credit Fund:

1. The target distribution return is net of fees and costs but excludes any adjustments for FX rate fluctuations. The target return is reviewed monthly and may change. This target return is determined with reference to the return benchmark of the Secured Overnight Financing Rate (SOFR) + 3% as at 31 July 2024. This is a target return only and may not be achieved.
2. Redemption requests are generally processed on a quarterly basis in accordance with this PDS. Investors do not have a right to redeem and the Responsible Entity (RE) may reject redemption requests. The ability to redeem is subject to liquidity and the processing of redemptions may be delayed or suspended in certain circumstances. The RE will limit redemptions to up to 5% of the issued Class B Units each quarter. Redemption requests exceeding that limit may be accepted by the RE, pro-rated or scaled back to 5%. Please refer to this PDS for more details about redeeming Class B Units and how to submit a redemption request form.
3. La Trobe Financial Asset Management Limited ACN 007 332 363 Australian Financial Services Licence No. 222213 is the responsible entity of the La Trobe US Private Credit Fund ARSN 677 174 382. It is important that you consider the relevant Product Disclosure Statement (PDS) before deciding whether to invest or continue to invest in the fund. You can read the PDS and the Target Market Determination on our website or ask for a copy by calling us on 13 80 10.

Research Ratings are subject to change. To view the relevant research information, please visit www.latrobefinancial.com.au This rating will not take into account your, or your clients’ objectives, financial situation or needs. It is up to investors to consider whether specific financial products are suitable for their objectives, financial situation or needs. Research houses receive a fee from La Trobe Financial for rating the product. Any rating is only one factor to be taken into account in deciding to invest.

(1) The Zenith Investment Partners (ABN 27 103 132 672, AFS Licence 226872) (“Zenith”) rating (assigned 13 June 2024) referred to in this piece is limited to “General Advice” (s766B Corporations Act 2001) for Wholesale clients only.  This advice has been prepared without taking into account the objectives, financial situation or needs of any individual, including target markets of financial products, where applicable, and is subject to change at any time without prior notice.  It is not a specific recommendation to purchase, sell or hold the relevant product(s).  Investors should seek independent financial advice before making an investment decision and should consider the appropriateness of this advice in light of their own objectives, financial situation and needs.  Investors should obtain a copy of, and consider the PDS or offer document before making any decision and refer to the full Zenith Product Assessment available on the Zenith website.  Past performance is not an indication of future performance. Zenith usually charges the product issuer, fund manager or related party to conduct Product Assessments.  Full details regarding Zenith’s methodology, ratings definitions and regulatory compliance are available on our Product Assessments and at Fund Research Regulatory Guidelines

(2) The Zenith Investment Partners (ABN 27 103 132 672, AFS Licence 226872) (“Zenith”) rating (assigned 10 October 2024) referred to in this piece is limited to “General Advice” (s766B Corporations Act 2001) for Wholesale clients only.  This advice has been prepared without taking into account the objectives, financial situation or needs of any individual, including target markets of financial products, where applicable, and is subject to change at any time without prior notice.  It is not a specific recommendation to purchase, sell or hold the relevant product(s).  Investors should seek independent financial advice before making an investment decision and should consider the appropriateness of this advice in light of their own objectives, financial situation and needs.  Investors should obtain a copy of, and consider the PDS or offer document before making any decision and refer to the full Zenith Product Assessment available on the Zenith website.  Past performance is not an indication of future performance. Zenith usually charges the product issuer, fund manager or related party to conduct Product Assessments.  Full details regarding Zenith’s methodology, ratings definitions and regulatory compliance are available on our Product Assessments and at Fund Research Regulatory Guidelines

(3) The rating contained in this document is issued by SQM Research Pty Ltd ABN 93 122 592 036 AFSL 421913. SQM Research is an investment research firm that undertakes research on investment products exclusively for its wholesale clients, utilising a proprietary review and star rating system. The SQM Research star rating system is of a general nature and does not take into account the particular circumstances or needs of any specific person. The rating may be subject to change at any time. Only licensed financial advisers may use the SQM Research star rating system in determining whether an investment is appropriate to a person’s particular circumstances or needs. You should read the product disclosure statement and consult a licensed financial adviser before making an investment decision in relation to this investment product. SQM Research receives a fee from the Fund Manager for the research and rating of the managed investment scheme.

(4) Lipper Leaders Rating Total Return (Score – 5) Lipper Ratings for Total Return reflect funds’ historical return performance relative to peers. The ratings are subject to change every month. The highest 20% of funds in each peer group are named Lipper Leader or a score of 5 for Total Return. Lipper Leader ratings are not intended to predict future results and does not guarantee the accuracy of this information. More information is available at www.lipperweb.com. Thomson Reuters Copyright, All Rights Reserved.

(5) The rating published on 11/2024 for12MTA is issued by Lonsec Research Pty Ltd ABN 11 151 658 561 AFSL 421 445 (Lonsec Research). Ratings are general advice only and have been prepared without taking account of investors’ objectives, financial situation or needs. Consider your personal circumstances, read the product disclosure statement and seek independent financial advice before investing. The rating is not a recommendation to purchase, sell or hold any product. Past performance information is not indicative of future performance. Ratings are subject to change without notice and Lonsec Research assumes no obligation to update. Lonsec Research uses objective criteria and receives a fee from the Fund Manager. Visit lonsec.com.au for ratings information and to access the full report. © 2024 Lonsec. All rights reserved.

(6) The rates of return from the Fund are not guaranteed and are determined by future revenue of the Fund and may be lower than expected. Select Investment Account and High Yield Investment Account returns are specific to individual mortgages and therefore subject to the performance of that individual mortgage investment. Investors risk losing some or all of their principal investment. The investment is not a bank deposit.

(7) Subject to availability.

(8) Past performance is not a reliable indicator of future performance.

(9) The Benchmark for the Classic Notice Account is the Official Cash Rate plus 0.5%. The Benchmark for the 12 Month Term Account is the Bloomberg Ausbond BBI plus 1.5%.

(10) Withdrawal rights are subject to liquidity and may be delayed or suspended. See the important information in the PDS in relation to La Trobe Financial’s ability to allow withdrawals while the Fund is Liquid (as defined by the law).

(11) The Investment Options may invest in the same mortgage. Loan numbers refer to the number of loans only and do not reflect the number of individual securities.

(12) Arrears for the fund are calculated by dividing the total investment amount of loans in arrears by the total balance of outstanding investments.

(13) From time to time we take on the administration of third party originated mortgage books into the Select Investment Account and High Yield Investment Account of the Fund, that may have higher arrears than our own loans, and we do so on a “workout recovery” basis to repair the transferred portfolio. These loans are excluded from the Select Investment Account, High Yield and Fund Total Arrears figures.

(14) The total Fund Investments > $1m will not equal the sum of each individual Option’s investments as multiple Options can invest in a single loan.

NOTE: The Fund currently does not use derivatives for interest rate management.

IMPORTANT: This message, together with the La Trobe Financial website (www.latrobefinancial.com.au) and all its contents have been prepared for general information only and should not be taken as legal or financial advice, and as such the specific needs, investment objectives or financial situation of any particular user have not been taken into consideration. Individuals should therefore talk with their financial planner or advisor before acting on any information present in this message or the La Trobe Financial website