Gryphon Capital Income Trust

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14 Jul 2020

GCI Investment Update June 2020

Reflecting on the 2019/2020 financial year, it seems like it was specifically designed to test the resilience of the GCI investment portfolio. Despite it being a tumultuous year, GCI was able to deliver on its objectives — sustainable, monthly income with low volatility of returns and stable underlying asset values (NTA).

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GCI Investment Update June 2020

18 Jun 2020

GCI Investment Update May 2020

Gryphon has been increasing our portfolio weighting to Prime RMBS and this continued in May as we participated in 2 Prime RMBS transactions taking advantage of the higher quality risk-adjusted returns on offer.

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GCI Investment Update May 2020

20 May 2020

GCI Investment Update April 2020

Gryphon believe our conservative portfolio positioning before the COVID crisis and our competitive advantage in data analysis in RMBS / ABS has placed us well to withstand the current dislocation in the financial markets.

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GCI Investment Update April 2020

15 May 2020

Gryphon Capital Income Trust Market Update

Ash Burtenshaw, CIO of Gryphon Capital Investments, discusses the impact of COVID-19 on GCI and its broader impact on the market.

(please ensure you read the disclaimer at the bottom of this page before viewing this video)

20 Apr 2020

GCI Investment Update March 2020

Predictable, reliable and sustainable monthly income is a core pillar of GCI and as such, we don’t envisage any disruption to the monthly distributions.

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GCI Investment Update March 2020

30 Mar 2020

GCI Market Update 27 March 2020

How will COVID-19 impact Australian RMBS? In this Market Update, we provide some reminders on the robust structure of RMBS bonds and the protections inherent for bond holders. We also explore how we think Australian mortgages will behave in the coming six months and why we are comfortable maintaining our income stream for unitholders in GCI.

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GCI Market Update 27 March 2020

18 Mar 2020

GCI Market Update 17 March 2020

In light of recent global market volatility, Gryphon Capital has released a market update to the ASX providing a summary of the current state of the fixed income markets.

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GCI Market Update 17 March 2020

11 Mar 2020

GCI Investment Update February 2020

As investors (not traders) our investment decisions are centred on the bond holder protections for each investment, the performance of each investment under our “stress testing” and the relative value of the investment opportunity.

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GCI Investment Update February 2020

14 Feb 2020

GCI Investment Update January 2020

It has been a relatively busy start to the new year with three securitized transactions launched and priced in January, including a $2.75 billion funding-only RMBS transaction by Westpac and two ABS issues from non-banks totaling $900 million.

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GCI Investment Update January 2020

13 Jan 2020

GCI Investment Update December 2019

The recent Entitlement and Shortfall Offers were settled on the 2nd and 9th of December respectively and Gryphon Capital was able to successfully invest approximately 80% of the new capital raised within days of the completion of the Offers.

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GCI Investment Update December 2019

16 Dec 2019

GCI Investment Update November 2019

During November, there were five new RMBS issues totalling $5.6 billion - Gryphon Capital’s Investment Committee elected to participate in two of the Prime RMBS new issue
transactions.

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GCI Investment Update November 2019

15 Nov 2019

GCI Investment Update October 2019

During October, there were five new RMBS issues, all from non-bank issuers totalling $4 billion, as well as four new ABS issues totalling circa $2.4 billion. Gryphon Capital’s Investment Committee elected to participate in two of the RMBS new issue transactions and one of the ABS transactions.

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GCI Investment Update October 2019

15 Oct 2019

GCI Investment Update September 2019

Gryphon Capital indicated in the recent capital raising that it may take up to three months to fully invest the additional capital raised. However, principally due to our forward planning and ability to source eligible investments, we have now effectively fully invested the proceeds in investments which satisfy the return and risk characteristics outlined in the PDS.

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GCI Investment Update September 2019

20 Sep 2019

GCI Investment Update August 2019

The recent Entitlement and Shortfall Offer and subsequent Placement were completed during August. Gryphon Capital was delighted with the overwhelmingly positive response received to the capital raise.

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GCI Investment Update August 2019

20 Aug 2019

GCI Investment Update July 2019

During the month, a rating agency Standard & Poor’s (S&P) released a report entitled “Can Australian RMBS Ratings Withstand a Slowing Economy and Lower Property Prices?” and concluded that Australian RMBS ratings are largely resilient. As Gryphon has been communicating to our investors, debt serviceability is driven by mortgage rates and employment (not house prices).

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GCI Investment Update July 2019

11 Jul 2019

GCI Investment Update June 2019

The existing GCI Entitlement Offer and Shortfall Offer (to raise up to $108.03 million) opened on 4 July 2019 and due to very strong support shown by new investors the Shortfall Offer was closed early on 8 July 2019.

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GCI Investment Update June 2019

02 Jul 2019

GCI for Income

At IPO Gryphon Capital Income Trust the stated investment objectives were:
- Sustainable monthly cash income
- Highest Risk Adjusted Returns
- Capital Preservation

We’re proud to say that since IPO we have delivered everything we said we would without exception. Meaning GCI has achieved more yield for less risk than IPO targets.

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02 Jul 2019

GCI Risk vs Return

At GCI our measure of ‘risk’ is the volatility of assets; with term deposits with low volatility compared to growth assets or higher risk assets with higher volatility such as equities...

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02 Jul 2019

GCI for Capital Preservation

When investing for income, capital preservation is paramount and is our central pillar.
No investor in Australian RMBS has ever lost capital when held to maturity.

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02 Jul 2019

NAB Interviews Gryphon’s CIO

Ash Burtenshaw, the Chief Investment Officer of Gryphon Capital Investments, provides Mark Todd from NAB - one of the Joint Lead Managers in the Entitlement Offer for the Gryphon Capital Income Trust (GCI) – an update on GCI and they discuss the upcoming Entitlement Offer.

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01 Jul 2019

A Defensive Income Alternative

Where does GCI sit within the income alternatives?

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01 Jul 2019

RMBS and House Prices

What drives the performance of RMBS? Do house prices matter?

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19 Jun 2019

GCI Investment Update May 2019

During May, we witnessed quite a busy primary new issue market, with five public RMBS totalling almost A$5.6 billion. Due to a combination of credit analysis, relative value and GCI portfolio optimisation considerations the Gryphon Capital Investment Committee elected to participate in only one of these RMBS transactions.

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GCI Investment Update May 2019

20 May 2019

GCI Investment Update April 2019

The IMF concluded in its recent stress tests on the major banks that house prices are important for the “wealth effect” and government coffers, but have only a second order impact on a borrower’s capacity to pay their mortgage (arrears). The most important drivers for arrears performance are unemployment and home loan interest rates.

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GCI Investment Update April 2019

15 Apr 2019

GCI Investment Update March 2019

In early April the A$2 billion Australian Business Securitisation Fund Act (“ABSF”) was passed by the Federal Parliament, which was established to invest in securitisations backed by small and medium enterprise (“SME”) loans made by non-major banks and non-banks. The Government’s objective is to provide competitive financing to smaller banks who can then in turn increase the availability of finance to the SME sector.

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GCI Investment Update March 2019

09 Apr 2019

Gryphon Capital Investments featured on CommSec Executive Series

Ash Burtenshaw, CIO of Gryphon Capital Investments discusses RMBS and house prices on CommSec Executive Series

15 Mar 2019

GCI Investment Update February 2019

It was quite a busy month in terms of trading turnover as the team had identified a number of very attractive opportunities. To fund these opportunities, we chose to divest a number of holdings which had outperformed our price expectations, resulting in a portfolio shift towards a higher blended credit rating profile for little or no loss in yield.

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GCI Investment Update February 2019

06 Mar 2019

Apollo RMBS in the spotlight - "Suncorp mortgage bond failure" - cause for concern?

An article published in The Australian on 5 March 2019 generated some questions from clients of Gryphon Capital Investments and we wanted to provide some background and outline some key facts.

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09 Jan 2019

Meet the Manager – Gryphon Capital Investments

Mark Todd from NAB, one of the Joint Lead Managers in the IPO of the Gryphon Capital Income Trust introduces Ash Burtenshaw, Chief Investment Officer of Gryphon Capital Investments. Ash discusses the performance of the Gryphon Capital Income Trust.

05 Oct 2018

Gryphon: Adding portfolio diversification to your income

The Gryphon Capital Income Trust allows retail investors to access a fixed income asset class that generally has only been available to institutional investors. These listings allow retail investors to diversify beyond traditional income assets while maintaining a higher yield.

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04 Jul 2018

Morgans article – Diversification

Morgans one of the Joint Lead Managers in the recent IPO of the Gryphon Capital Income Trust explains the benefits of portfolio diversification.

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27 May 2018

Media Release - Gryphon Capital Income Trust lists on ASX

Gryphon Capital Income Trust raises $175.3 million and successfully lists on the ASX.

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13 Apr 2018

Media Release - Minimum Funds Raised

Gryphon Capital Income Trust Offer Minimum Funds Raised.

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12 Apr 2018

Gryphon Capital Income Trust IPO : Where is the risk in seeking income?

Steven Fleming, Partner at Gryphon Capital Investments, explains to Informed Investor the benefits of secured debt.

11 Apr 2018

A message for SMSF investors

Self-Managed Super Funds (SMSFs) typically invest in a rather narrow range of assets: equities, fixed income, property, private equity or infrastructure, and cash, but these assets are increasingly correlated under the label of ‘risk-on assets’, reducing the benefits of diversification.

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09 Apr 2018

Industry Moves Q&A with Gryphon co-founder and CEO Steven Fleming

“Our performance speaks for itself”: Q&A with Gryphon Capital Investments co-founder and CEO Steven Fleming.

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05 Apr 2018

Morgans Article highlighting the benefits of diversification

Morgans one of the Joint Lead Managers in the upcoming IPO of the Gryphon Capital Income Trust explains the importance and benefit of portfolio diversification.

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26 Mar 2018

Protecting investors through ‘skin in the game’

Despite the complex name, securitisation is a simple concept. Securitisation is taking an illiquid pool of assets and converting them to liquid securities. Securitisation got a bad rap in the wake of the GFC, but in Australia, there are important differences to the “sub-prime” market in the USA. This video explains the basics of this widely misunderstood asset class.

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22 Mar 2018

The securitisation process explained


22 Mar 2018

Media Release - IPO launch

Gryphon Capital Investments Launches IPO for Gryphon Capital Income Trust, Raising $350 Million

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21 Mar 2018

Gryphon knocks on doors ahead of $350m float

An article from The Australian Financial Review.

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Gryphon knocks on doors ahead of $350m float

02 Feb 2018

Can Australian homeowners handle higher rates?

The average variable home loan rate in Australia has fallen from 8.3% to 5.1% in the past ten years, enabling households to borrow more and drive house prices higher. Despite higher levels of household debt, Australians’ level of mortgage stress is quite low. But what if interest rates go up?

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04 Dec 2017

New fund float hopes for a happy new year

An article from The Australian Financial Review.

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27 Nov 2017

Gryphon announces the appointment of Seed Partnerships for upcoming IPO

Gryphon Capital Investments is pleased to announce that in preparation for the upcoming IPO of Gryphon Capital Income Trust, Seed Partnerships have been appointed to act as Corporate Advisor.

One Managed Investment Funds Limited (ABN 47 117 400 987) (AFSL 297042) (OMIFL) is the responsible entity of the Gryphon Capital Income Trust (ARSN 623 308 850 (“Fund”). Information contained in this website was prepared by Gryphon Capital Investments Pty Ltd (ACN 167 850 535) (GCI). While neither OMIFL nor GCI has any reason to believe the information is inaccurate, the truth or accuracy of the information cannot be warranted or guaranteed. Before making any decision regarding the Fund, investors and potential investors should consider the Product Disclosure Statement (PDS) and other continuous disclosures available on the Australian Securities Exchange ("ASX") website (Disclosure Material). The Disclosure Material contains important information about investing in the Fund and it is important investors obtain and read the Disclosure Material before making a decision about whether to acquire, continue to hold or dispose of units in the Fund. This website contains general information only and is not intended to be financial product advice. It does not take into account any person’s (or class of persons’) investment objectives, financial situation or particular needs, and should not be used as the basis for making investment, financial or other decisions.  Investors should also consult a licensed financial adviser before making an investment decision in relation to the Fund. This website may contain forward-looking statements based on current expectations, estimates, and projections about the Fund’s business and the industry in which the Fund invests.  Readers are cautioned not to place undue reliance on these forward-looking statements. Neither OMIFL nor GCI undertakes any obligation to revise any such forward-looking statements to reflect events and circumstances after the date of this publication.  Past performance is not indicative of future performance. Neither OMIFL or GCI nor any other person associated with the Fund guarantees or warrants the future performance of the Fund, the return on an investment in the Fund, the repayment of capital or the payment of distributions from the Fund. To the extent permitted by law, no liability is accepted by OMIFL, GCI or their respective directors for any loss or damage as a result of any reliance on this information.