@vivRookie I hope this is a satirical account otherwise you are more delusional than Raygun....
@Stumpedup This FY interest payment and fees represented more than 6% of the equity!
Which is why I think this fund will permanently underperform. Too much overhead.
Regarding breaching the loan LTV (an extra 2% in interest) it's getting closer.
Current LTV is 42% - $54m in asset with a $23m loan. Another 15% drop in asset value and it will kick in.
No wonder they cut the dividend. It would be wise to suspend it altogether to prevent breaching the LTV clause.
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