Overview
The Pallas High Yield Mortgage Fund is an open-ended, evergreen private credit fund managed by Pallas Capital in Auckland, New Zealand. It invests in first and second mortgage lending, targeting higher returns paid on a monthly basis, with a portfolio weighted average loan-to-value ratio capped at a conservative level. The fund operates on a twelve-month redemption notice period and is available to wholesale investors only.
Fund Overview
First and second mortgage fund targeting higher returns. Target return ~10.42% p.a. (8.0% p.a. plus 30-day BKBM, paid monthly). Max weighted portfolio LVR of 75%. 12 month redemption notice.
Asset Class
Private Credit
Structure
Open-Ended
Open for Subscription
Evergreen FundWholesale OnlyThis is an evergreen fund — open to qualifying wholesale investors year-round. Subscription details, minimum investment, and redemption terms are set out in the fund's Information Memorandum.
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Quick Info
This information is for wholesale investors only and does not constitute financial advice. All investments carry risk. Please seek professional advice before making investment decisions.
Frequently Asked Questions
What is Pallas High Yield Mortgage Fund?
First and second mortgage fund targeting higher returns. Target return ~10.42% p.a. (8.0% p.a. plus 30-day BKBM, paid monthly). Max weighted portfolio LVR of 75%. 12 month redemption notice.
Who manages Pallas High Yield Mortgage Fund?
Pallas High Yield Mortgage Fund is managed by Pallas Capital (FSPR FSP1004241, NZBN 9429050658909) based in Auckland, New Zealand. Manager registration on the Financial Service Providers Register is a legal requirement under the Financial Service Providers (Registration and Dispute Resolution) Act 2008 and does not itself constitute an endorsement.
What asset class is Pallas High Yield Mortgage Fund?
Pallas High Yield Mortgage Fund is classified as Private Credit on Wholesale Investor NZ. Asset-class classification reflects the fund's stated investment focus per its Information Memorandum and is provided for navigation purposes only — review the IM for the full strategy and risk profile.
Is Pallas High Yield Mortgage Fund evergreen or a closed-end fund?
Pallas High Yield Mortgage Fund is an evergreen fund — it is permanently open for subscription rather than running on fixed vintages. New investors can typically apply at any time subject to capacity, manager discretion, and the fund's stated subscription windows. Redemption terms are set in the Information Memorandum and vary by fund.
Is Pallas High Yield Mortgage Fund wholesale-only?
Yes — Pallas High Yield Mortgage Fund is offered on a wholesale-only basis under Schedule 1 of the Financial Markets Conduct Act 2013. Subscription requires self-certification under one of the seven Schedule 1 pathways (typically the NZ$5M net-assets "large person" pathway or an accountant- or lawyer-signed eligible-investor certificate per Clauses 38-40). Wholesale-only funds do not publish a retail Product Disclosure Statement and do not appear on the Disclose Register.
Where can I read the IM or PDS for Pallas High Yield Mortgage Fund?
Pallas High Yield Mortgage Fund is a wholesale-only fund and the manager does not publish a retail-accessible Information Memorandum on Wholesale Investor NZ. Wholesale-only funds typically share the IM directly with prospective investors after a Schedule 1 self-certification under the Financial Markets Conduct Act 2013. Contact the manager to request the IM and the certification process.