balmain + corporation + group + balmaintrilogy
BalmainTRILOGY
Your financial crisis, our solution
Everybody has the right to have their investments properly managed especially in these tough economic times. For investors in the City Pacific First Mortgage Fund (‘Fund’) this means arresting and reversing the declining fortunes they have endured as a result of the management of the Fund by City Pacific (CP).
In an attempt to regain control over the destiny of their savings investors in the Fund approached BalmainTRILOGY to assist them in removing CP as responsible entity and manager (‘RE’) of the Fund and replacing CP with Trilogy. These investors shared many common concerns about the current RE including the lack of any meaningful information on the Fund and its assets being provided to members, significant conflicts of interest from the numerous related party transactions undertaken by CP, the poor financial position of CP as disclosed in CP’s half yearly results, the level of fees being charged by CP and the current freeze on both distributions and redemptions.
BalmainTRILOGY brings together the combined expertise and resources of Balmain NB Corporation Limited and Trilogy Funds Management Limited. Together they have a significant track-record in managing mortgage funds in Australia with collective funds under management of over $7 billion and a client list including CBA, GE, AXA, Colonial First State, Challenger, Australian Unity and ING.
In offering itself as a replacement RE, BalmainTRILOGY has been asked to make a number of pledges to members in respect of its future conduct including outsourcing custodian and registry functions, establishing an Investors’ Consultative Committee to provide an appropriate forum for investors to discuss their concerns, undertaking a detailed review of the assets of the fund and reporting to members when complete, completing a legal review of the past conduct of the Fund with particular emphasis on assessing whether Investor’s may have any legal cause of action to recover assets arising from previous management of the Fund, confirming the Fund will not be listed on any securities exchange, recommencing distributions and redemptions as soon as practicable and significantly reducing fees and establish a new transparent fee structure which is fair to members.
For BalmainTRILOGY to be successful we need your support.
To register your support please go to www.balmaintrilogy.com.au
balmain + corporation + group + balmaintrilogy
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