Senior Trust Management has listed its latest fund on the NZX Main Board (NZX:SRF).
The fund makes loans to well-located and soundly run retirement villages and aged care facilities. Senior Trust limits loans to a maximum of 60% of the value of the retirement village or aged care facility as determined by an independent registered valuation.
The minimum investment in the fund is $100, with increments of $100 thereafter, and 45 million is the maximum number of units which can be issued.
"Achieving listing is a landmark event for the organisation and positions Senior Trust as the specialist lender within this growth sector," Senior Trust Management director Scott Lester says.
The Senior Trust Retirement Village Listed Fund has a targeted distribution rate of 6% before tax, and though this is not a fixed or guaranteed rate of return. "We have confidence in repeating the success of Senior Trust's previous unit trust offers and delivering our investment strategy,” he says.
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