Stabelo Fund 1
Stabelo Fund 1 offers institutional investors the opportunity to invest in Swedish private residential mortgage loans secured by single family homes or tenant-owned apartments. The mortgage loans have a loan-to-value of 60 percent or less at origination.
The Fund is registered with the Swedish Financial Supervisory Authority as an Alternative Investment Fund and is managed by Stabelo Asset Management AB, licensed by the Swedish Supervisory Authority as an Alternative Investment Fund Manager.
The Fund issues participating debentures to institutional investors in order to fulfil its funding requirements for mortgage lending. The participating debentures provide the holder of the instrument with a variable quarterly coupon based on the income received from the underlying portfolio of mortgages and other assets.
The Fund is specifically targeting professional institutional investors that have a long-term investment horizon. Participating debentures are issued by the Fund only to subscribed investors who have previously signed subscription undertakings with the Fund.
| Fund headlines | 2024-09-30 |
|---|---|
| Fund Assets under Management, MSEK | 19 288.6 |
| Number of fundshares in issue | 19 259 |
| Net Asset Value per fundshare, in SEK | 1 001 538 |
| Net Asset Value per fundshare, as % | 100.153843% |
| Full price per fundshare, in SEK | 1 012 054 |
| Full price per fundshare, as % | 101.205374% |
| Issue price per fundshare, in SEK | - |
| Issue price per fundshare, as % | - |
| Issue basis | - |
| Duration of mortgages, rolling 3 month average, years | 0.568 |
| Credit duration of mortgages, rolling 3 month average, years | 3.74 |
| Weighted average Loan-to-Value | 43.1% |
Notes:
1. Assets under management comprise the Fund’s portfolio assets less portfolio liabilities at the month-end, including investment funds drawn down prior to month-end.
2. Fundshares consist of participating debentures issued by the Fund with a nominal value (or ‘base amount’) of SEK 1 million each.
3. Net asset value per fundshare is the assets under management divided by the number of fundshares, expressed in SEK or as a percentage of nominal value. It is equivalent to the ‘clean’ price per fundshare exclusive of Fund income or interest compensation.
4. Full price per fundshare is the price per fundshare inclusive of Fund income or interest compensation.
5. Issue price per fundshare is the Fund issue price in the primary market. This comprises the net asset value per fundshare (determined according to Fund Terms and Conditions), plus interest compensation, where applicable, for interest accrued since the date of last distribution.
