Leader says this marks the Trust as a “success story”
First Mortgage Trust has reached over $1 billion in investor funds under management, a milestone CEO Tony Kinzett says is a significant achievement.
Kinzett says the figure “cements the Trust’s position as New Zealand’s largest non-bank first mortgage provider,” with most new investors now joining through word of mouth referrals.
The Trust currently has over 4,600 investors, and receives enquiries from across all parts of New Zealand. Kinzett says First Mortgage Trust’s history of delivering better than bank returns and protecting investor capital has paid off, with many former borrowers returning to the Trust as investors.
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“The Trust has consistently delivered solid returns based on well-considered commercial, industrial, residential and rural property loans, secured by first mortgages, primarily located in the economic strongholds of New Zealand,” Kinzett commented.
“With borrowers coming back as investors, and the knowledge that current investors are referring others, it shows that we are taking care of people and their requirements at a very high level.”
Michael Smith, chair of First Mortgage Managers says that reaching $1 billion in funds under management is a “true success story.”
“The Trust’s financial growth has depended on its resolute conservative approach and the respect we’ve shown for our investors’ trust and confidence,” Smith said.
“Year after year, First Mortgage Trust has gone from strength to strength, both in terms of serving our investors and in meeting the needs and aspirations of borrowers. Our unwavering operational care and prudent risk management underpin both arms of our business and I am delighted that our investors and borrowers benefit from this.”
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Kinzett and Smith noted that the Trust has never pursued growth for growth’s sake, and that the First Mortgage Trust team has put its commitment to customer deliverables front and centre. Kinzett says the Trust will now look to build on its capacity and capability, and ensure that it is optimally positioned to operate in a post-COVID environment.
“While it’s always satisfying to reach milestones such as this, we would never look to grow simply for the sake of it. The business fundamentals always come first,” Kinzett said.
“That means working smarter to ensure our client engagement and business performance are second-to-none. We want our investors and borrowers to continue to stay loyal and to tell our good news story to others.”
