The union of Balmain and Trilogy as the investment manager for Pacific First Mortgage Fund brings together decades of experience in their respective industries of mortgage and funds management. Balmain is a specialist manager of mortgage fund assets while Trilogy has specialist skills and experience in administering property and income funds. The complementary skills of both groups were ideally suited to manage the Pacific First Mortgage Fund.
Balmain NB Corporation Limited and Trilogy were separately approached by investors in the City Pacific First Mortgage Fund (now known as the Pacific First Mortgage Fund), seeking replacement of the existing Responsible Entity (RE) and Manager, City Pacific Limited. Some of the allegations that had led to Investors seeking a replacement RE included: a lack of information in relation to the Fund and its assets; related party transactions; excessive fees; inability of the Manager to recover loans; and the suspension of distributions and redemptions.
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