Centuria Capital No. 2 Fund - Q4 FY24 Quarterly Report - 30 July 2024
CENTURIA FUNDS MANAGEMENT LIMITED (C2F) Share Update July 2024 Monday 29th
Centuria Capital No. 2 Fund Reports Stable Q4 FY24 Performance
Centuria Funds Management Limited, as trustee of the Centuria Capital No. 2 Fund, has released its Q4 FY24 quarterly report, indicating stable performance and compliance with all regulatory requirements.
Instant Summary:
- No compliance failures with the terms of the Notes or regulatory provisions.
- No events causing immediate repayment or enforceability of the Notes.
- No material prejudices to CFML, its subsidiaries, or any Guarantor.
- No substantial changes in the nature of CFML's business.
- No new appointments or changes in liability of Guarantors.
- Unsecured loans to related body corporates detailed.
Quarterly Performance Overview
Centuria Funds Management Limited (CFML), as trustee of the Centuria Capital No. 2 Fund (C2F), has released its quarterly report for Q4 FY24, covering the period from 1 April 2024 to 30 June 2024. The report confirms that CFML and its Guarantors have complied with all terms of the Notes, the Note Deed, and Chapter 2L of the Corporations Act 2001.
During the quarter, there were no events that caused or could cause any amounts deposited or lent under the Notes to become immediately repayable or enforceable. Additionally, there were no circumstances that materially prejudiced CFML, its subsidiaries, or any Guarantor.
Compliance and Stability
CFML reported no substantial changes in the nature of its business or that of its subsidiaries or Guarantors during the quarter. Furthermore, there were no new appointments or changes in the liability of any Guarantor for the payment of money under the guarantee.
Sections 283BF(4)(f) and 283BF(6) of the Corporations Act were not applicable for this report, and there were no other matters that could materially prejudice the interests of the Note holders.
Related Body Corporate Transactions
CFML provided details of loans and repayments to related body corporates during the quarter. The transactions included a loan of A$14,749,000 to Centuria Finance Pty Limited, a repayment of A$3,278,000 from Centuria Property Credit Fund, and a loan of A$28,567,000 to CHPF Sub Trust No. 4. All loans are unsecured.
Security Interests
For the purposes of ASIC Instrument 2022/61, CFML confirmed that the security interest consists of first ranking general security deeds over the assets of CFML and related entities. CFML assessed that the property securing the interest is sufficient to meet all liabilities that rank in priority or equally with the liability.
The value of the secured property is not affected by the financial position or performance of any related body corporate or related party of the borrower.
The stable performance and compliance reported by CFML are positive indicators for investors. The absence of any adverse events or material changes suggests that the Notes remain a secure investment. This stability is likely to maintain investor confidence in Centuria Capital No. 2 Fund.
Investor Reaction:
Analysts are expected to view the report favorably, given the consistent compliance and absence of negative events. The detailed disclosure of related body corporate transactions adds transparency, which is likely to be appreciated by investors.
Conclusion:
Investors should take note of the stable performance and compliance reported by Centuria Capital No. 2 Fund for Q4 FY24. The detailed report provides reassurance of the fund's stability and adherence to regulatory requirements. Investors are encouraged to stay informed about future updates and performance reports.