Products & platforms

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

Macquarie Fortress Notes New Zealand

Macquarie Fortress Fund

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:

Macquarie Fortress Notes

Macquarie Fortress Notes New Zealand

Macquarie Fortress Fund

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.

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.