Search

One Lending Fund performance update





N1 Holdings Limited (ASX: N1H or the “Company”) is pleased to provide a distribution update for One Lending Fund, a wholesale fund managed by N1 Asset Management, a wholly-owned subsidiary of the Company. 1. One Lending Fund’s distributions to unitholders for the financial year to date (as at 31 December 2020) (FYTD) was $630,702 in total. 2. The total amount of distributions since inception as at 31 December 2020 was $1.77m in aggregate. 3. One Lending Fund’s FYTD revenue is $1.32m. 4. Management fees derived by N1 Asset Management FYTD as at the end of December 2020 were $539,788. All the amounts noted above are unaudited. Investors should note that One Lending Fund is not consolidated into the Company’s balance sheet (as One Lending Fund is a separate vehicle managed by N1 Asset Management). One Lending Fund was launched in February 2019 as a new driver of N1H’s growth. During the FYTD, One Lending Fund has originated $14m of loans. Since its inception until 31 December 2020, One Lending Fund has originated $57.6m of loans in aggregate to Australian SMEs. One Lending Fund is an open-end fund available only to wholesale investors, and forms part of N1H's SME lending brand OneLend, with committed lending capital comprised of N1H’s balance sheet and capital committed to One Lending Fund. Authorised for release by the Chairman. For more information, please contact:



Ren Hor Wong

Chairman & Chief Executive Officer

renwong@n1holdings.com.au

7 views0 comments

© 2021 by N1 Holdings Limited