April was another solid month for Bedrock. The return at 11.10% annualised is consistent with the previous month and continues to be at a market leading level.
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Importantly in less certain times, it is delivered from a diverse portfolio of 23 loans to 18 borrowers, and we feel Bedrock is absolutely achieving the goal of risk reduction in delivery of its returns.
The fund’s bias remains weighted toward Residential and Industrial land and civil construction loans (77%), with an additional 19% invested in Industrial built-form loans. These loan types are preferred in the fund due to their typically lower complexity and reduced risk. The fund has no investments in residential built-form loans.