SINGAPORE - Media
OutReach - 26 JULY 2018 - CoAssets
Limited (CoAssets or the "Company") (ASX: CA8), a financial technology platform specialising in
providing funding solutions for small to medium-sized enterprises (SMEs), is pleased to announce the
launch of the CoAssets Stirling Fort Absolute Return Fund (CASFAR Fund or Fund) by
its wholly owned Singapore based subsidiary CoAssets International Pte Ltd. The
Fund will undertake collateralised lending and it aims to grow the Asset under
Management (AUM) to S$100 million
over the next five years.
The launch of
the CASFAR Fund will give accredited investors an avenue to invest in the regional
SME lending space. As the Fund
principally engages in SME Bridging Loans, the loan tenures will generally be
less than 12 months and Fund performance is unlikely to be affected by the
equities or interest rate markets. The bulk of the portfolio will be made up of
loans to SMEs that are able to pledge hard assets while the rest of the
portfolio will be made up of loans to SMEs that allow the Fund to hold a charge
over their shares, earnings, or contract receivables.
Fund Manager, Singapore based Stirling Fort Capital (Stirling), established in 13 April 2014, is a multi-family office
with a proven track record in providing tailored and customised investment
solutions. Stirling will assist CoAssets in the set up and operations of the
Fund by proving the fund management services. Stirling is led by a highly
accomplished management team who has accumulated a wide array of experience in
the finance industry. CoAssets expects that together with Stirling, the
expertise and investment techniques utilised will enable the Fund to take full
advantage of investment opportunities as they arise.
CEO and Co-founder of CoAssets, Mr Getty Goh
constantly looking for ways to add value to our crowdfunding investor base. So
far, we have more than 400,000 registered users from around the region and more
than 50,000 of them are from Singapore. Based on our interaction with them, we
realize that quite a number of them are accredited investors. Some of them are
on the look out for higher returns and are currently underserved -- hence we see
CASFAR as an opportunity for us to add value to that specific group of
"On the other
hand, we have been actively growing our corporate loan book since Sep 2015. In
terms of corporate loans, we have deployed about S$18million in total, with an
annualized weighted return of about 24% and default rate of less than 2%. Based
on the last few year's track records, we are optimistic that we able to help CASFAR
investors generate positive returns.
Admitted, CASFAR is a new fund in a fairly competitive investment market. However, given our experience in using
financial technology to raise funds and assess deals, we believe that this will
be the edge that sets us apart from the other new entrants."
About CoAssets Ltd
CoAssets (www.coassets.com) is one of South-East
Asia's leading crowdfunding platforms which is headquartered in Singapore and
listed on the Australian Stock Exchange (ASX).
Officially launched in Singapore in July 2013, it currently has more
than 400,000 registered users and the amount successfully funded stands at more
than S$45 million (US$33 million). The company won the Red Herring Top 100 Asia
Award for 2014, as well as OPP Gold Award for Excellence and currently has
offices in Singapore, Australia, China, Malaysia and Indonesia.