Angas Prime Proves Popular
Investors strongly embraced the investment returns delivered by Angas Prime boosting Funds Under Management by a record 20% during 2022.
Executive Chairman, Andrew Luckhurst-Smith, observed that this trust, which manages a pool of first mortgage loans, has been around for a long time. Prime Mortgage Trust was established in 1984. It came under the control of Angas Securities in 2010 and was re-named Angas Prime.
Funds under Management have consistently grown but growth of 20% in 2022 was a record for Angas Prime.
An exciting development is the new Target Rate for Angas Prime investments which has increased to 5.5% p.a.* from 1 March 2023, with income paid monthly.
Invested funds are pooled into loans at fixed rates for fixed terms. The Target Rate reflects the projected returns from loans that have been written. As the loan book expires, new loans are written at prevailing fixed interest rates. This is a progressive process. In the coming months, the rollover into new loans paying higher fixed rates, should permit an upward trend in the Target Rate.
Returns on investment are important. Quality is paramount. Angas Prime won’t sacrifice loan quality to chase rates.
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