Gryphon Capital Investments launches IPO of Gryphon Capital Income Trust, raising $ 350 million


Brisbane, Australia – (COMMERCIAL THREAD) – Gryphon Capital Investments (GCI) today announced the opening of the IPO of Gryphon Capital Income Trust (GCIT or Fund). The responsible entity of the Fund is One Managed Investment Funds Limited (Responsible entity). The responsible entity, on behalf of the Fund, is seeking to raise a maximum of $ 350 million through the initial public offering. GCI will act as manager of the Fund.

The Fund has a current target return of 5% per annum, equivalent to the RBA cash rate plus 3.5%; distributions will be at a variable rate and paid monthly.

GCIT offers investors a unique opportunity to access a portfolio of wholesale bonds secured in an ASX-listed vehicle managed by a specialist fund manager. The Fund fills a gap in the market for stable monthly income while preserving capital through a combination of portfolio diversification and, most importantly, secured debt securities. Specifically, investors will for the first time have direct access to Residential Mortgage Backed Securities (RMBS) and Asset Backed Securities (ABS), markets that were the preserve of institutional investors in Australia.

The Fund’s strategy will combine the disciplines and processes of two of GCI’s existing institutional funds. The Secured Opportunities (started in April 2015) and Investment Grade Securitized (started in September 2016) strategies managed for wholesale investors which have generated respectively 6.93% and 5.31% net of fees per year since their creation.

Transaction co-arrangers and leaders Morgans and NAB believe that GCI’s strong track record and extensive experience in this specialized fixed income sector make it an attractive offering for investors looking to increase diversification of their business. wallet. The long-term support of their institutional clients is a testament to GCI’s expertise and track record of capital stability as well as stable and predictable returns. We are pleased now to have the opportunity to provide retail investors with access to this specialist manager and investment strategy.

Ashley Burtenshaw, Co-Founder and Chief Investment Officer of GCI, said: “The portfolios of Australian investors are overweighted in cash who have turned to stable bank deposits that offer low returns due to the low cash rate of the bank. RBA. We are delighted to provide investors with a stable alternative, which offers both capital protection, through investment in a diversified portfolio of asset-backed securities, as well as strong targeted monthly income. ”

Offer details

The responsible entity, on behalf of the Fund, is offering up to 175 million new units at $ 2.00 per unit, in order to raise $ 350 million (Offer). The minimum subscription is $ 100 million.

Gryphon Group will pay the costs of the Offer such that the NAV of each Unit at listing equals the Asking Price of $ 2.00 per Unit.

To participate in the Offer

The Offer is being made pursuant to a product disclosure statement filed with ASIC on March 6, 2018 (PDS) and is available on the website of the Fund Applications under the General Offer can be made by completing the application form attached to the PDS or online via the application form accompanying the electronic PDS. Applicants under the brokerage firm’s offer should contact their broker for details of the application.

Key dates

Open offer

March 20, 2018

Brokerage firm Closing of the offer

April 27, 2018

Closure of the general offer

May 2, 2018

ASX quote expected (GCI.ASX)

May 18, 2018

About Gryphon Capital

Gryphon Capital Investments (“GCI”) (AFSL 454552) is an independent asset management firm specializing in fixed income strategies, founded in 2014 by Steven Fleming, Ashley Burtenshaw and Henry Cooke. GCI currently manages over A $ 1.7 billion of separate mandates from its Brisbane and London offices, primarily in high quality securitized assets.

GCI is a deep, research-driven, low-volatility credit manager focused on delivering strong and stable returns to our clients not constrained by conventional benchmarks.


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