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28 February 2020

Dear Investor

Canterbury Mortgage Trust Group Investment Fund (the "Fund") Progress Report

The purpose of this six monthly progress report is to update interested parties (being unitholders in the Fund, Trustees Executors Limited ("Supervisor") as the supervisor of the Fund and the Financial Markets Authority ("FMA")) on the progress of the winding up of the Fund.

Canterbury Fund Managers Ltd, as the manager of the Fund, is relying on a class exemption granted by the FMA that applies to Group Investment Funds in wind up which came into force on 14 July 2017 ("the Exemption"). Interested parties are updated by way of progress reports in accordance with the above Exemption

Mortgage Advances

In November 2019 litigation relating to the lease of 96 Lichfield St was resolved. The lessee had its application for leave to appeal to the Supreme Court rejected. See also the media report on this in the Christchurch Press

This clears the way for the final wind up of the Fund.

Unitholders' Funds

In December 2019 the Fund made a further repayment of 3 cents in the dollar to investors, bringing the total repaid to 90.5 cents in the dollar.

It is currently proposed to make a final repayment to investors in March 2020, and complete the processes required for the final wind up of the Fund (such as preparation of the Financial Statements for the year ended 31 March 2020 and final reporting to the FMA).

To ensure all possible monies are returned to investors, your contact address and bank account details need to be kept up to date, as once the office of the manager closes any unclaimed monies will be passed to the Crown. As at the date of this report there are 37 investors who have not received payments previously paid to unit holders

The contact details for the Manager, Custodian, and Supervisor are as follows:


Canterbury Fund Managers Limited

Trustees Executors Limited

FM Custodians Limited
FSP582067 FSP37383 FSP39836

6a / 212 Antigua Street
Christchurch 8011
New Zealand

Level 5,
10 Customhouse Quay
Wellington 6011
New Zealand

Level 5
10 Customhouse Quay
Wellington 6011
New Zealand

PO Box 13229
Christchurch 8141
New Zealand


Yours sincerely



Colin Gower


For Canterbury Fund Managers Limited





Financial Statements



Canterbury Mortgage Trust Annual Report 2019


Canterbury Mortgage Trust Annual Report 2018


Canterbury Mortgage Trust Annual Report 2017


Canterbury Mortgage Trust Annual Report 2016

CMT Annual Reports


Previous Annual Reports








Investment Transfer Policy


Trust Deeds & Wind-up Resolution


Previous Updates



Click here to access CMT transfer policy.


IRD Press Release 19 June 2019


Click here to view the IRD Press Release.

Click here to access deeds and resolution

December 2019


Incident Report November 2019


August 2019


Annual Report Aug 2019


July 2019


February 2019


November 2018


Report - 26 November 2018


Click here to access previous updates.


Canterbury Mortgage Trust Group Investment Fund, office of the Manager Canterbury Fund Managers Ltd

Unit 6a, 212 Antigua St, Christchurch 8011 • PO Box 13-229, Christchurch 8141
Phone 03 377 5201 •