The Balmain AQUA Income Trust and the Balmain AQUA High Income Trust (Trusts)
The Trusts are managed by; Balmain AQUA Pty Limited a wholly owned subsidiary of
Balmain NB Commercial Mortgages Limited.
Balmain AQUA is an investment manager of commercial mortgage investments and
responsible for managing the investments of the Balmain AQUA Income and High
Income Trusts (formerly the Mirvac AQUA Income and High Income Funds) in line
with their investment strategies and benchmarks.
Balmain was a founding shareholder of the Trusts in partnership with the Mirvac
Group. Following unit holder meetings in April 2010 Balmain acquired Mirvac’s
50% shareholding in the Fund Manager Mirvac AQUA Pty Ltd and changed its name to
Balmain AQUA. Mirvac Funds Management Limited retired as Responsible Entity (RE)
and was replaced by Permanent Investment Management Limited an independent and
professional RE and a wholly owned subsidiary of Trust Company Australia
Limited.
About Balmain
Balmain is Australia's leading originator and manager of commercial property
loans. Over the last 30 years Balmain has helped more than 20,000 Australians
and their businesses secure finance. Balmain originates or manages more than 40%
of all commercial property loan investments made by the institutional sector in
Australia.
The Balmain Group is a major shareholder in AMAL Asset Management (AMAL), which
is a specialist mortgage administrator and currently administers in excess of $7
billion of mortgage portfolios. AMAL is rated by S&P as an "above average"
service provider, and manages funds for many of Australia's largest financial
institutions.
Balmain provides asset management services (including credit and special
servicing) to numerous programmes including services to such major Australian
financial institutions as NAB, AXA, Adelaide Bank, INGFM and CBA. Last financial
year Balmain settled over $3 billion in commercial mortgage loans. Balmain
operates from 9 offices throughout Australia and New Zealand and has 130 staff.
Balmain manages the $125 million Balmain (MMT) Mortgage Trust (formerly the
Mariner Mortgage Trust) and in partnership with Trilogy Funds Management Limited
formed Balmain Trilogy to manage the $450 million in assets of the City Pacific
First Mortgage Fund) (formerly City Pacific First Mortgage Trust). With the
addition of the $180 million Balmain AQUA Income Trusts, Balmain now manages
over $750 million in commercial mortgage assets on behalf of close to 30000
investors.