GPS Invest Select Fund
A contributory mortgage fund offering investors the opportunity to invest directly in selected registered First Mortgages over predominately residential but also limited non-residential property in South East Queensland.
GPS Investment Fund (GPS), in various forms, has been involved in the management of Mortgage Funds since 1994.
Over that time, we have developed a niche market for funding residential construction and development projects in South East Queensland, exclusively through registered First Mortgages. The GPS Invest Select Fund (“The Fund”) is a contributory mortgage scheme and invests with other funds managed by GPS, as joint lenders, in a range of GPS-sourced and managed loans.
The Fund’s objective is to provide Investors with a stable and predictable monthly income. Investors have the opportunity to individually select the First Mortgages in which they wish to invest. Details of the registered First Mortgages are set out in a comprehensive Supplementary Product Disclosure Statement (“SPDS”).
Investors decide which mortgages suit them, based on information about the loan. This information includes its term and interest rate, the security property and the Borrower, and is all contained in the SPDS. Mortgages are secured on a First Mortgage basis and must meet GPS’s strict lending criteria. Investors receive the benefits and the rights that attach to the specific registered First Mortgage that they select.
From an individual Investor’s perspective, the Investor is exposed to the specific selected First Mortgage, and they do not have the benefit of the diversification provided by the GPS Invest Pooled Fund.
How the Fund Works
- GPS sources Borrowers who will offer the Fund registered First Mortgage security over acceptable real estate properties and who satisfy other lending criteria as defined by GPS lending guidelines;
- GPS raises funds through several Investors (like you) who collectively invest money in specific registered First Mortgages;
- The Borrowers pay monthly interest to the Fund for the use of the Fund’s money; and
- Where GPS determines there is an amount available for Distribution (interest), Investors receive a Distribution sourced from interest paid by the Borrower. The Distribution amount is directly related to the interest rate on the loan as disclosed in the SPDS.
The key fundamentals of the Fund investment strategy include:
- investing in registered First Mortgages and cash held in Australian banks;
- no related party lending;
- independent, expert valuations obtained before settlement;
- properties only located in South East Queensland; and
The GPS Group have been writing loans similar to those in which the Fund will invest since it was founded in 1994. GPS has built on its history and experience in the mortgage lending industry to develop proven, robust processes and policies in the key areas of:
- mortgage origination and assessment;
- legal documentation and loan settlement;
- ongoing management; and
- default management.
The Fund will invest exclusively in registered First Mortgage loans over predominately residential but also limited non-residential property in South East Queensland, and cash held in Australian banks. The Fund will lend predominately for residential but also limited non-residential construction and development projects.
We will only take a registered First Mortgage position as the Fund’s primary security. However, the Fund and other funds managed by GPS may make a loan to the same Borrower. In such a circumstance, the funds may be joint lenders with the loan secured by a joint First Mortgage.
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GPS does not charge fees to Investors.
GPS Development Finance Pty Ltd or GPS Investment Fund Ltd are rewarded for their efforts by receiving a variety of fees all paid for by the Borrower such as Application, Loan Monitoring, Line Fees and the differential between the interest paid by the Borrower and the interest paid to Investors.
The fees we earn are not taken off the indicative Distribution rate paid to Investors.
Withdrawals are not available to Fund Investors until the loan to which the mortgage relates has been repaid.
To allow for the efficient management of construction investments, GPS may make principal repayments to Investors from ongoing sales at its discretion.
GPS Invest Select Fund (ARSN: 149 257 401) and GPS Invest Pooled Fund (ARSN: 149 257 410) (“the Funds”) are issued by GPS Investment Fund Limited (ABN: 40 145 378 383) (AFSL: 383080) (“GPS”). This document may contain general advice which does not consider any particular person’s objectives, financial situation or needs. The Target Market Determinations (TMD) for the Funds can be found at www.gpsinvest.com.au/resources/ and includes a description of who the Funds are considered appropriate for. GPS is not licensed to provide financial product advice about the Funds, so you should obtain a Product Disclosure Statement (“PDS”) and read it prior to making a decision to invest. You should also consider obtaining professional financial advice before making an investment decision. The PDSs are available at www.gpsinvest.com.au or by calling 1800 999 109. Cooling-off periods do not apply to the Funds. Past performance is not a reliable indicator of future performance. An investment in either Fund has risk, can fluctuate in value, may achieve lower than expected returns, is not a bank deposit, is not guaranteed and investors risk losing some or all of their principal investment. Distributions, if any, will generally be paid monthly. GPS Invest Pooled Fund has limited withdrawal rights. Withdrawal offers will generally be made quarterly, subject to available liquidity. GPS Invest Select Fund withdrawals will only be considered at the completion of a mortgage investment. Refer to the relevant PDSs for full details.
GPS is part of a group of companies (“GPS Group”) founded by owner and Managing Director, Richard Woodhead. The initial company in the GPS Group commenced operations in Brisbane in 1994 sourcing and managing First Mortgage lending products predominantly in the residential construction and development market in South East Queensland.
History of GPS
The GPS Group brings to the Funds a wealth of experience gained by originating and managing mortgage loans since 1994. The GPS Group’s history of timely and consistent returns to Investors is as a result of well-defined investment strategies supported by established mortgage system capabilities and management processes.
GPS Investment Fund Limited was incorporated in 2010 and is the Responsible Entity of the Funds. GPS holds Australian Financial Services Licence No 383080 issued by the Australian Securities & Investments Commission (“ASIC”). ASIC takes no responsibility for the contents of this website.
Richard started his career in 1982. He worked for several law firms specialising in ligation, construction and property law. He was one of the founders of the GPS Group, which commenced private lending in 1994. He maintains a hands-on and full time role at GPS where his 35 plus years of experience as a lawyer and private lender provide great depth of experience and practicality.
Ben is a management executive with over 20 years specialist experience across a range of boutique and major brand banking and finance institutions. During a diverse career in consulting and finance, Ben has developed a broad skill base in business development and management. Over the past 20 years, he has held senior management positions with major Queensland based financial institutions including Suncorp Metway, Bank of Queensland and Investec Bank. Ben specialises in growing businesses by developing and implementing strategy through analytical exercises, relationship management and vision. He holds a Bachelor of Economics Degree from the University of New England.
Matt has over 30 years’ experience in the Queensland property market. He was registered as a valuer in 1989 and worked at numerous firms during his career. Matt established the valuation division at Savills in 1999 and became Managing Director in 2009. In 2013, Matt set up ACORPP in Brisbane which is an independent property advisory firm. Matt also joined the board of GPS in 2013 and continues to sit on the lending committee. Professional qualifications include those of Registered Valuer Qld No.1771, Certified Practicing Valuer within the Australian Property Institute and a Licensed Real Estate Agent.
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Published by GPS Investment Fund Limited
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The issuer of this product is identified at the top of this page. The PDS and target market determination for the product are available in the Documents section of this listing. Prospective investors should consider the PDS before deciding to acquire the product. An investment in the product is not a bank deposit and investors risk losing some or all of their money. This product listing was vetted by and approved by the product issuer identified above before publishing. Investment Markets(Aust) Pty Ltd AFSL 527875 (IM) is not the issuer of the product.
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