The fund’s diversity metrics in remained strong and consistent with prior months, with the portfolio comprising investments in 24 loans to 18 borrowers across 8 regions, across the Residential, Industrial, Retail and Medical sectors. The average loan size at month end is $2.8m. This diversity remains the Manager’s primary focus in delivering Bedrock’s returns.
The fund’s bias remains weighted toward Residential and Industrial land and civil construction loans (79%), with an additional 13% 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.
The fund’s returns outlook continues to remain strong, with a solid pipeline of investment opportunities. The impact of the recent reduction in RBA cash rates will continue to have a limited impact on Bedrock given most current loans contain minimum interest rates, interest is prepaid, and the average loan expiry period is 7.5 months.
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