Adelaide Managed Funds Asset Backed Yield Trust (AYT)

Stock Code

AYT

Stock Exchange

Australian Securities Exchange

The Adelaide Managed Funds Asset Backed Yield Trust (AYT) is a fund that invests in asset backed securities issued by securitisation programs. AYT was listed on the Australian Stock Exchange on 31 August, 2006. The Investment Manager of AYT is Adelaide Bank. The Fund provides investors, having an investment in the fund with exposure to a class of assets not generally available to retail investors. AMF is the responsible entity for the AYT and it offers units in the Fund according to the Product Disclosure Statement lodged with ASIC on 21 July 2006.

The factor that distinguishes AYT from most other Australian high yield funds is due to its ASX listing and its focus on asset backed securities which are investments backed by pools of loans and lease assets. The funds that dominate Australian high yield market focus on corporate high yield investment grade securities for which there is typically a higher degree of liquidity as compared to the investments into which AYT invests.

Adelaide Managed Funds Asset Backed Yield Trust History

Adelaide Managed Funds (AMF) was founded in May 1998. It manages two cash funds, two structured products and one listed fund, Adelaide Managed Funds Asset Backed Yield Trust (AYT). AYT is in charge of the AMF. AMF was responsible for the management of over $2.9B in assets as at 22 January 2007. AMF draws on the resources of Adelaide Bank for a range of management services which consists of investment management services and custody and administration services.