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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:

ManagerSupervisorCustodian

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

 
 

 

 

 

Documents

 

 
 

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 • team@cmt.co.nz