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Macquarie Fortress
This product is closed
Features
Macquarie Fortress provides investors with exposure to a leveraged portfolio of US senior secured loans (Senior Loans).
Macquarie Fortress Notes are available to purchase on the ASX and trade under ASX code MFNHA.
Macquarie Fortress Notes New Zealand are available to purchase on the NZX and trade under NZX code FTNFA.
Macquarie Fortress Fund offers are closed.
Payment information
Payment information regarding the Fortress products has been confirmed. Please see below for further information specific to your investment.
Macquarie Fortress Notes New Zealand
Important investment update
The portfolio of senior secured loans to which the Fortress products are exposed has been sold. Please see below for further information specific to your investment:
Performance
Net asset value
It is important to note that notwithstanding the fall in the market value of the Senior Loans in the portfolio, there is still an obligation for the borrowers to repay the Senior Loans in the portfolio at par. The final return to investors continues to depend on default and recovery rates of Senior Loans in the portfolio.
Fortress Notes AU
To view the latest NAV Announcement, click here.
| Month Ending |
NAV Per Note |
Distribution Per Note |
Fortress Accumulation Index^ |
|---|---|---|---|
| 30 June 2011 | $0.455 | - | $0.708 |
| 31 May 2011 | $0.454 | - | $0.707 |
| 29 April 2011 | $0.450 | - | $0.703 |
| 31 March 2011 | $0.443 | - | $0.696 |
| 28 February 2011 | $0.442 | - | $0.695 |
| 31 January 2011 | $0.428 | - | $0.681 |
| 31 December 2010 | $0.410 | - | $0.663 |
| 30 November 2010 | $0.397 | - | $0.650 |
| 29 October 2010 | $0.393 | - | $0.646 |
| 30 September 2010 | $0.378 | - | $0.631 |
| 31 August 2010 | $0.367 | - | $0.620 |
| 30 July 2010 | $0.360 | - | $0.613 |
| 30 June 2010 | $0.335 | - | $0.588 |
| 28 May 2010 | $0.345 | - | $0.598 |
| 30 April 2010 | $0.384 | - | $0.637 |
| 31 March 2010 | $0.372 | - | $0.625 |
| 26 February 2010 | $0.351 | - | $0.604 |
| 29 January 2010 | $0.352 | - | $0.605 |
| 31 December 2009 | $0.321 | - | $0.574 |
| 30 November 2009 | $0.291 | - | $0.544 |
| 30 October 2009 | $0.293 | - | $0.546 |
| 30 September 2009 | $0.286 | - | $0.539 |
| 31 August 2009 | $0.242 | - | $0.495 |
| 31 July 2009 | $0.217 | - | $0.470 |
| 30 June 2009 | $0.134 | - | $0.387 |
| 29 May 2009 | $0.058 | - | $0.311 |
| 30 April 2009 | $0.000 | - | $0.253 |
| 31 March 2009 | $0.000 | - | $0.253 |
| 27 February 2009 | $0.000 | - | $0.253 |
| 30 January 2009 | $0.000 | - | $0.253 |
| 31 December 2008 | $0.000 | - | $0.253 |
| 28 November 2008 | $0.000 | - | $0.253 |
| 31 October 2008 | $0.000 | - | $0.253 |
| 30 September 2008 | $0.251 | - | $0.504 |
| 29 August 2008 | $0.400 | - | $0.653 |
| 31 July 2008 | $0.414 | - | $0.667 |
| 30 June 2008 | $0.434 | - | $0.687 |
| 30 May 2008 | $0.429 | - | $0.682 |
| 5 May 2008 | $0.400 | - | $0.653 |
| 31 March 2008 | $0.338 | - | $0.591 |
| 29 February 2008 | $0.313 | - | $0.566 |
| 31 January 2008 | $0.533 | - | $0.786 |
| 31 December 2007 | $0.682 | - | $0.935 |
| 30 November 2007 | $0.675 | $0.0284 | $0.928 |
| 31 October 2007 | $0.804 | - | $1.029 |
| 28 September 2007 | $0.766 | - | $0.991 |
| 31 August 2007 | $0.675 | $0.0274 | $0.900 |
| 31 July 2007 | $0.728 | - | $0.926 |
| 29 June 2007 | $0.982 | - | $1.180 |
| 31 May 2007 | $0.999 | $0.0272 | $1.197 |
| 30 April 2007 | $1.014 | - | $1.185 |
| 30 March 2007 | $1.006 | - | $1.177 |
| 28 February 2007 | $1.009 | $0.0267 | $1.180 |
| 31January 2007 | $1.015 | - | $1.159 |
| 29 December 2006 | $0.980 | - | $1.124 |
| 30 November 2006 | $0.965 | $0.0265 | $1.109 |
| 31 October 2006 | $0.982 | - | $1.099 |
| 30 September 2006 | $0.967 | - | $1.084 |
| 31 August 2006 | $0.969 | $0.0261**** | $1.086 |
| 31 July 2006 | $0.982 | - | $1.073 |
| 30 June 2006 | $0.977 | - | $1.068 |
| 31 May 2006 | $0.983 | $0.0254*** | $1.074 |
| 30 April 2006 | $1.018 | - | $1.084 |
| 31 March 2006 | $1.019 | - | $1.085 |
| 28 February 2006 | $1.006 | $0.0248** | $1.072 |
| 31 January 2006 | $1.011 | - | $1.052 |
| 30 December 2005 | $1.001 | - | $1.042 |
| 30 November 2005 | $0.989 | $0.0251* | $1.030 |
| 31 October 2005 | $1.001 | - | $1.017 |
| 30 September 2005 | $1.063 | - | $1.079 |
| 31 August 2005 | $1.064 | $0.0163 | $1.080 |
| 29 July 2005 | $1.048 | - | $1.048 |
| 30 June 2005 | $1.019 | - | $1.019 |
|
17 May 2005 (First Unit issue date) |
$1.000 | - | $1.000 |
^ This column shows the aggregate of the NAV plus all distributions received, on Notes, since inception on 17 May 2005.
* An interest payment of $0.0066 per Note for MFNHB holders was declared as at 30 November 2005.
** An interest payment of $0.0136 per Note for MFNHB holders was declared as at 28 February 2006.
*** An interest payment of $0.0062 per Note for MFNHC holders was declared as at 31 May 2006.
**** An interest payment of $0.0148 per Note for MFNHC holders was declared as at 31 August 2006.
Remember, past performance is not a reliable indication of future performance.
Fortress Notes NZ
To view the latest NAV Announcement, click here.
| Month Ending | Nav Per Note | Interest Payment Per Note |
Fortress Accumulation Index^ |
|---|---|---|---|
| 30 June 2011 | $0.461 | - | $0.756 |
| 31 May 2011 | $0.463 | - | $0.758 |
| 29 April 2011 | $0.461 | - | $0.756 |
| 31 March 2011 | $0.452 | - | $0.747 |
| 28 February 2011 | $0.452 | - | $0.747 |
| 31 January 2011 | $0.432 | - | $0.727 |
| 31 December 2010 | $0.414 | - | $0.709 |
| 30 November 2010 | $0.399 | - | $0.694 |
| 29 October 2010 | $0.394 | - | $0.689 |
| 30 September 2010 | $0.376 | - | $0.671 |
| 31 August 2010 | $0.371 | - | $0.666 |
| 30 July 2010 | $0.369 | - | $0.664 |
| 30 June 2010 | $0.346 | - | $0.641 |
| 28 May 2010 | $0.351 | - | $0.646 |
| 30 April 2010 | $0.395 | - | $0.690 |
| 31 March 2010 | $0.379 | - | $0.674 |
| 26 February 2010 | $0.355 | - | $0.650 |
| 29 January 2010 | $0.355 | - | $0.650 |
| 31 December 2009 | $0.325 | - | $0.620 |
| 30 November 2009 | $0.288 | - | $0.583 |
| 30 October 2009 | $0.296 | - | $0.591 |
| 30 September 2009 | $0.296 | - | $0.591 |
| 31 August 2009 | $0.248 | - | $0.543 |
| 31 July 2009 | $0.214 | - | $0.509 |
| 30 June 2009 | $0.121 | - | $0.416 |
| 29 May 2009 | $0.032 | - | $0.327 |
| 30 April 2009 | $0.000 | - | $0.295 |
| 31 March 2009 | $0.000 | - | $0.295 |
| 27 February 2009 | $0.000 | - | $0.295 |
| 30 January 2009 | $0.000 | - | $0.295 |
| 31 December 2008 | $0.000 | - | $0.295 |
| 28 November 2008 | $0.000 | - | $0.295 |
| 31 October 2008 | $0.000 | - | $0.295 |
| 30 September 2008 | $0.249 | - | $0.544 |
| 29 August 2008 | $0.405 | - | $0.700 |
| 31 July 2008 | $0.425 | - | $0.720 |
| 30 June 2008 | $0.452 | - | $0.747 |
| 30 May 2008 | $0.440 | - | $0.735 |
| 5 May 2008 | $0.408 | - | $0.703 |
| 31 March 2008 | $0.342 | - | $0.637 |
| 29 February 2008 | $0.316 | - | $0.611 |
| 31 January 2008 | $0.531 | - | $0.826 |
| 31 December 2007 | $0.680 | - | $0.975 |
| 30 November 2007 | $0.673 | $0.0328 | $0.968 |
| 31 October 2007 | $0.802 | - | $1.064 |
| 28 September 2007 | $0.765 | - | $1.027 |
| 31 August 2007 | $0.674 | $0.0319 | $0.936 |
| 31 July 2007 | $0.726 | - | $0.956 |
| 29 June 2007 | $0.981 | - | $1.211 |
| 31 May 2007 | $0.999 | $0.0310 | $1.229 |
| 30 April 2007 | $1.015 | - | $1.214 |
| 30 March 2007 | $1.006 | - | $1.205 |
| 28 February 2007 | $1.007 | $0.0298 | $1.206 |
| 31 January 2007 | $1.016 | - | $1.185 |
| 29 December 2006 | $0.981 | - | $1.150 |
| 30 November 2006 | $0.967 | $0.0298 | $1.136 |
| 31 October 2006 | $0.985 | - | $1.124 |
| 30 September 2006 | $0.969 | - | $1.108 |
| 31 August 2006 | $0.966 | $0.0301 | $1.105 |
| 31 July 2006 | $0.982 | - | $1.091 |
| 30 June 2006 | $0.977 | - | $1.086 |
| 31 May 2006 | $0.981 | $0.0302 | $1.090 |
| 30 April 2006 | $1.020 | - | $1.099 |
| 31 March 2006 | $1.019 | - | $1.098 |
| 28 February 2006 | $1.005 | $0.0300 | $1.0840 |
| 31 January 2006 | $1.014 | - | $1.0630 |
| 30 December 2005 | $1.001 | - | $1.0500 |
| 30 November 2005 | $0.988 | $0.0287 | $1.0370 |
| 31 October 2005 | $1.0010 | $1.0213 | |
| 30 September 2005 | $1.0640 | $1.0843 | |
| 31 August 2005 | $1.0580 | $0.0203 | $1.0783 |
| 29 July 2005 | $1.0480 | - | $1.0480 |
| 30 June 2005 | $1.0200 | - | $1.0200 |
|
17 May 2005 (First Fortress Notes issue date) |
$1.0000 | - | $1.0000 |
^ This column shows aggregate of the NAV plus all interest payments received, on the Fortress Notes, since issue on 17 May 2005.
Definition – Net Asset Value
Net Asset Value is the market value of the assets of the Macquarie New Zealand Fortress Notes Trust (”Trust”), including cash assets and any investments, less all present liabilities of the Trust, including any provision which the Trustee decides should be taken into account in determining the liabilities of the Trust.
Past performance is not a reliable indication of future performance.
Macquarie New Zealand Fortress Notes ("Fortress Notes") are secured by a first ranking security over the Loan Notes (as described in the Investment Statement and Prospectus) and the Issuer's rights under a junior ranking charge given by the Knight Portfolio Trust over the assets and undertakings of the proportion of the Knight Portfolio Trust relating to the Loan Notes. The security is subject to any statutory preferences, and reimbursement of trustee and receiver charges.
The material on this page is provided and distributed by Macquarie Fortress Investments Limited in its capacity as trustee for the Macquarie New Zealand Fortress Notes Trust, the issuer of Fortress Notes for use by financial advisers only. This information is provided for the use of financial advisers only. In no circumstances is it to be used by a potential investor for the purposes of making a decision about a financial product or class of products. This advice is not personal advice. This advice has been prepared without taking account of investors objectives, financial situation or needs.
Any Macquarie subsidiary noted on this page is not an authorised deposit-taking institution for the purposes of the Banking Act (Cth) 1959. That subsidiary's obligations do not represent deposits or other liabilities of Macquarie Bank Limited ABN 46 008 583 542 (MBL). MBL does not guarantee or otherwise provide assurance in respect of the obligations of that subsidiary, unless noted otherwise.
MBL is a company incorporated in Australia and authorised under the Banking Act 1959 (Australia) to conduct banking business in Australia. Neither MBL nor any of its worldwide related bodies corporate (including Macquarie Fortress Investments Limited and Macquarie New Zealand Limited) are registered as a bank in New Zealand by the Reserve Bank of New Zealand under the Reserve Bank of New Zealand Act 1989.
Fortress Fund
To view the latest NAV Announcement, click here.
| Month Ending |
NAV per Unit after Distributions |
Quarterly Distribution per Unit* |
Total Investment Return per Unit Since Inception^ |
|---|---|---|---|
| 30 June 2011 | $0.505 | - | $0.881 |
| 31 May 2011 | $0.504 | - | $0.880 |
| 29 April 2011 | $0.500 | - | $0.876 |
| 31 March 2011 | $0.492 | - | $0.868 |
| 28 February 2011 | $0.491 | - | $0.867 |
| 31 January 2011 | $0.476 | - | $0.852 |
| 31 December 2010 | $0.456 | - | $0.832 |
| 30 November 2010 | $0.443 | - | $0.819 |
| 29 October 2010 | $0.439 | - | $0.815 |
| 30 September 2010 | $0.423 | - | $0.799 |
| 31 August 2010 | $0.413 | - | $0.789 |
| 30 July 2010 | $0.406 | - | $0.782 |
| 30 June 2010 | $0.379 | - | $0.755 |
| 28 May 2010 | $0.390 | - | $0.766 |
| 30 April 2010 | $0.432 | - | $0.808 |
| 31 March 2010 | $0.417 | - | $0.793 |
| 26 February 2010 | $0.394 | - | $0.770 |
| 29 January 2010 | $0.394 | - | $0.770 |
| 31 December 2009 | $0.360 | - | $0.736 |
| 30 November 2009 | $0.326 | - | $0.702 |
| 30 October 2009 | $0.328 | - | $0.704 |
| 30 September 2009 | $0.319 | - | $0.695 |
| 31 August 2009 | $0.272 | - | $0.648 |
| 31 July 2009 | $0.244 | - | $0.620 |
| 30 June 2009 | $0.153 | - | $0.529 |
| 29 May 2009 | $0.070 | - | $0.446 |
| 30 April 2009 | $0.000 | - | $0.376 |
| 31 March 2009 | $0.000 | - | $0.376 |
| 27 February 2009 | $0.000 | - | $0.376 |
| 30 January 2009 | $0.000 | - | $0.376 |
| 31 December 2008 | $0.000 | - | $0.376 |
| 28 November 2008 | $0.000 | - | $0.376 |
| 31 October 2008 | $0.000 | - | $0.376 |
| 30 September 2008 | $0.272 | - | $0.648 |
| 29 August 2008 | $0.427 | - | $0.803 |
| 31 July 2008 | $0.441 | - | $0.817 |
| 30 June 2008 | $0.464 | - | $0.840 |
| 30 May 2008 | $0.457 | - | $0.833 |
| 5 May 2008 | $0.424 | - | $0.800 |
| 31 March 2008 | $0.379 | - | $0.755 |
| 29 February 2008 | $0.336 | - | $0.712 |
| 31 January 2008 | $0.532 | - | $0.908 |
| 31 December 2007 | $0.686 | - | $1.062 |
| 30 November 2007 | $0.685 | - | $1.061 |
| 31 October 2007 | $0.785 | $0.0277 | $1.161 |
| 28 September 2007 | $0.773 | - | $1.121 |
| 31 August 2007 | $0.686 | - | $1.034 |
| 31 July 2007 | $0.720 | $0.0272 | $1.068 |
| 29 June 2007 | $1.019 | - | $1.340 |
| 31 May 2007 | $1.040 | - | $1.361 |
| 30 April 2007 | $1.027 | $0.0265 | $1.348 |
| 30 March 2007 | $1.049 | - | $1.343 |
| 28 February 2007 | $1.054 | - | $1.348 |
| 31 January 2007 | $1.036 | $0.0270 | $1.330 |
| 29 December 2006 | $1.020 | - | $1.287 |
| 30 November 2006 | $1.008 | - | $1.275 |
| 31 October 2006 | $1.000 | $0.0269 | $1.267 |
| 30 September 2006 | $1.010 | - | $1.250 |
| 31 August 2006 | $1.016 | - | $1.256 |
| 31 July 2006 | $1.001 | $0.0264 | $1.241 |
| 30 June 2006 | $1.024 | - | $1.238 |
| 31 May 2006 | $1.041 | - | $1.255 |
| 28 April 2006 | $1.058 | $0.0241 | $1.272 |
| 31 March 2006 | $1.080 | - | $1.269 |
| 28 February 2006 | $1.061 | - | $1.250 |
| 31 January 2006 | $1.045 | $0.0257 | $1.234 |
| 30 December 2005 | $1.056 | - | $1.219 |
| 30 November 2005 | $1.045 | - | $1.208 |
| 31 October 2005 | $1.044 | $0.0266 | $1.207 |
| 30 September 2005 | $1.102 | - | $1.238 |
| 31 August 2005 | $1.095 | - | $1.231 |
| 29 July 2005 | $1.077 | $0.0256 | $1.213 |
| 30 June 2005 | $1.070 | - | $1.180 |
| 31 May 2005 | $1.044 | - | $1.154 |
| 29 April 2005 | $1.055 | $0.0258 | $1.165 |
| 31 March 2005 | $1.106 | - | $1.190 |
| 28 February 2005 | $1.086 | - | $1.171 |
| 31 January 2005 | $1.061* | $0.0514* | $1.146 |
| 31 December 2004 | $1.071 | - | $1.105 |
| 30 November 2004 | $1.056 | - | $1.090 |
| 29 October 2004 | $1.039* | $0.0035* | $1.073 |
| 30 September 2004 | $1.024* | $0.0295* | $1.054 |
| 31 August 2004 | $1.023 | N/A | $1.023 |
| 30 July 2004 | $1.019 | N/A | $1.019 |
|
9 June 2004 (First Unit Issue Date) |
$1.000 | N/A | $1.000 |
* A distribution of $0.0295 per Unit for Ordinary Unit holders was declared as of 30 September 2004 with a further distribution of $0.0035 per Unit for all Unit holders declared as of 29 October 2004. The sum total of these two distributions was paid on 30 November 2004. The 31 January 2005 distribution stated was the distribution to Ordinary Unit holders. Class A Unit holders completed their Initial Investment Period on that date and were paid a distribution of $0.0141 per unit. After the payment of the distribution Class A units were consolidated to be Ordinary units on a 1:1 basis.
^ This column shows the aggregate of the Net Asset Value plus all distributions received on Ordinary Units from the Macquarie Fortress Fund since inception on 9 June 2004.
Remember, past performance is not a reliable indication of future performance.
Distributions
All cash flows from the portfolio must be used to meet interest payments, expenses and to reduce the principal outstanding. There will be no interest payments made until the financing has been fully repaid, which currently is not expected to be before 2012. Consequently, it is not expected that investors will receive any interest payments from their Fortress investment during this period.
Investment updates
Fortress Notes AU
Fortress Notes NZ
Fortress Notes are listed on the NZDX - code FTNFA
Fortress Fund
Risks
The Product Disclosure Statement for this investment sets out various risks associated with the product. We advise you read the PDS prior to providing advice in relation to this investment.
Resources
Contact us
Call: 1800 080 033
Overseas: +61 2 8245 4903
Fax: +61 2 8232 6158
© Macquarie Group Limited
Where we provide any advice on this website, it has been prepared without considering your objectives, financial situation or needs. Before acting on any advice on this website, you should consider its appropriateness to your circumstances and, if a current offer document is available, read the offer document before acquiring products named on this website.
Past performance of any product described on this site is not a reliable indication of future performance.
Other than Macquarie Bank Limited (Australian Credit Licence (ACL) 237502) and Australian Financial Services Licence (AFSL) 237502) ABN 46 008 583 542 (MBL), any Macquarie Group entity noted on this page is not an authorised deposit-taking institution for the purposes of the Banking Act 1959 (Commonwealth of Australia). That entity's obligations do not represent deposits or other liabilities of MBL. MBL does not guarantee or otherwise provide assurance in respect of the obligations of that entity, unless noted otherwise.
The information on Fortress Notes (Notes) has been prepared by Macquarie Fortress Investments Limited ACN 113 113 214 as trustee of the Macquarie Fortress Australia Notes Trust (MFIL) and is provided by Macquarie Capital Investment Management (Australia) Limited ACN 086 159 060, AFSL 237843 (MCIMAL). The information on the Macquarie Fortress Fund (Fund) has been prepared by Macquarie Financial Products Management Limited ABN 38 095 135 694 AFSL 237847 (MFPML). Some of the information is based on information provided by Four Corners Capital Management, LLC (Four Corners), the US based portfolio manager of the Knight Portfolio Trust and the Fortress Portfolio Trust.
Invitations to apply for Fortress Notes were made by MFIL under Prospectuses dated 7 March, 31 August 2005 and 3 February 2006. Invitations to apply for units in the Fund were made by MFPML in Product Disclosure Statements (PDS) dated 27 April 2004, 12 July 2004 and 21 November 2007. Investors should obtain the relevant offer document available from us at No.1 Martin Place, Sydney and consider it in full before making any decision about whether to acquire or continue to hold the financial product. We recommend investors obtain financial, legal and taxation advice before making any financial investment decision. Investors should also consider all updated information made available on our website.
Past performance is not a reliable indication of future performance.
Investments in the Notes and the Fund are not deposits with or other liabilities of Macquarie Bank Limited ABN 46 008 583 542 or any Macquarie Group company and are subject to investment risk, including possible delays in repayment and loss of income and capital invested. Neither Macquarie Bank Limited nor any other member company of the Macquarie Group guarantees any particular rate of return on, the performance of, or the repayment of capital from the Notes or the Fund.
Other than Macquarie Bank Limited ABN 46 008 583 542 (MBL), any Macquarie Group entity noted on this page is not an authorised deposit-taking institution for the purposes of the Banking Act 1959 (Commonwealth of Australia). That entity's obligations do not represent deposits or other liabilities of MBL. MBL does not guarantee or otherwise provide assurance in respect of the obligations of that entity, unless noted otherwise.
* van Eyk Research Limited (ABN 99 010 664 632 AFSL 237917) (van Eyk) rates investment management capabilities rather than individual products. This rating is valid as at July 2009 but can change or cease at anytime and should not be relied upon without referring to the meaning of the ratings, as well as the full manager reports, available to subscribers at www.iRate.vaneyk.com.au. van Eyk has not directed the publication of Macquarie Funds Group's rating. Past performance information is given for illustrative purposes only and should not be relied upon as it is not an indication of future performance. The rating is not intended to influence you and your client's investment decision in relation to any products managed by Macquarie Funds Group and does not take into account your client's individual financial situation, needs or objectives. We recommend that you and your client do not rely on this rating in making an investment decision and instead you seek advice from an appropriate investment adviser and read the product disclosure statement before making such a decision.