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The Maseco Asset Management Limited website is intended for use only by knowledgeable and experienced investors who meet certain criteria.

MASECO Asset Management Limited (MAM) registered office at Leeward Management Limited Camana Bay, 9 Forum Lane, Suite 3119, PO Box 144, Grand Cayman KY1-9006, Cayman Islands. A limited company incorporated in the Cayman Islands with company number CE-357344 and registered with the Cayman Islands Monetary Authority (CIMA).

A “knowledgeable and experienced” investor could be an institutional investor, a professional investor or in the case of a retail investor an investor with sufficient knowledge and investment experience.

UK Resident Investors – Certified High Net-worth Investor Statement

You have throughout the financial year immediately preceding the date below had an annual income of £100,000 or more or held throughout the financial year immediately preceding the date below, net assets to the value of £250,000 or more.

Net assets for these purposes do not include the property which is your primary residence or any money raised through a loan secured on that property; any rights of yours under a qualifying contract of insurance; or any benefits (in the form of pensions or otherwise) which are payable on the termination of your service or on your death or retirement and to which you (or your dependants are), or may be, entitled.

You accept that the investments to which the promotions will relate may expose you to a significant risk of losing all of the money or other property invested.  That you are aware that it is open to you to seek advice from an authorised person who specialises in advising on non-mainstream pooled investments.

US Resident Investor – Accredited Investor Statement

As a US citizen you are an Accredited Investor as one of the following applies, you either have individual Income in excess of $200,000 in each of the last two calendar years or joint Income with a spouse in excess of $300,000 in each of the last two calendar years and reasonably expects to attain levels of Income this year at least equal to these amounts.[1] Or you have, and at the time of any purchase of securities of the Investment will have, an individual Net Worth, or the spouse and the investor currently has, and at the time of any purchase of securities of the Investment will have, a combined Net Worth in excess of $1,000,000.[2]

You accept that the investments to which the promotions will relate may expose you to a significant risk of losing all of the money or other property invested.  You are aware that it is open to you to seek independent advice.

Risk Warning

You should refer to the Prospectus, an Adviser and a Tax Specialist in each case before making any decision to invest in either of MAM’s Alternative Income Funds.

Past performance is not an indicator of future results.  Currency fluctuations may increase or decrease the returns of any investment.  The value of investments can fall as well as rise; you may not get back what you invest.  The funds have limited liquidity and so you should expect not always to receive back your capital in a timely manner, during this time the fund value may fall as well as rise.

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By accepting these statements you confirm you have read, understood and you meet the conditions of the relevant category of investor.

1 Income means adjusted gross income, as reported for federal income tax purposes, increased by the following amounts: (i) the amount of any tax exempt interest income received; (ii) the amount of losses claimed as a limited partner in a limited partnership; (iii) any deduction claimed for depletion; (iv) amounts contributed to an IRA or Keogh retirement plan; (v) alimony paid; and (vi) any amount by which income from long-term capital gains has been reduced in arriving at adjusted gross income pursuant to the provisions of Section 1202 of the Internal Revenue Code.

2 Net Worth is the amount by which your total assets at fair market value exceed your total liabilities, with the following adjustments:

(i) the estimated fair market value of your primary residence is excluded from your total assets; (ii) the amount of any indebtedness secured by your primary residence up to the fair market value of such residence is not treated as a liability; (iii) the amount of any indebtedness secured by your primary residence that exceeds the fair market value of your primary residence is treated as a liability; and (iv) the amount of any debt secured by your primary residence incurred during the 60 days immediately preceding your purchase of any securities of the Company is treated as a liability (even if the estimated fair market value of your primary residence exceeds the aggregate amount of indebtedness secured by such primary residence), unless such debt resulted from the purchase of your primary residence during such 60 day period.

Daniel Lanyon
Daniel Lanyon
Daniel Lanyon is Editor of AltFi Investor, extensively covering professional investment in the alternative finance space. He was formerly a senior and award winning journalist at FE Trustnet covering the world of financial markets and asset management. Having attained a degree in economics, he went on to work as a journalist at several of the world’s leading media organisations including The Times, BBC and Reuters covering economics, business and politics.

daniel@altfi.com

Back to opinions
April 12, 2016
Daniel Lanyon

Institutional Investors Increase Presence in Marketplace Lending Space

The second annual survey by Richards Kibbe & Orbe and Wharton FinTech reveals that half of all institutional investors surveyed hold investments in marketplace lending.

Global law firm Richards Kibbe & Orbe and Wharton FinTech – a firm focusing on education, career development and idea promotion in FinTech – today released their second annual survey on the marketplace lending industry, entitled: “2016 Survey of U.S. Marketplace Lending”.

The two companies surveyed more than 300 US institutional investors. Approximately 16% of those surveyed work for firms with $10bn or more in assets under management (AUM), 36% work at funds with more than $1bn in AUM and 47% are at funds with less than $200m in AUM. 82% of respondents defined themselves as somewhat or very familiar with marketplace lending – up from 75% last year – showing an increased familiarity with the industry.

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Source: 2016 Survey of U.S. Marketplace Lending

The report points to a general solidifying of confidence among investment funds. The optimism surrounding the space appears to be following an upward trajectory, with more than 80% of respondents expressing a positive outlook, up from 71% last year. This comes despite widespread qualms about the performance of the asset class. Moreover, the institutional investors surveyed appear to have increased their investments in the sector over the past year. Half (50%) of all the investors surveyed have some form of investment in marketplace lending, up considerably from the 2015 figure, which was below 30%.

 

Richards Kibbe & Orbe partner Scott Budlong offered comment:

“Institutional investors are right to identify potential regulatory developments as a key factor in the industry’s continued growth, which means they will want to arm themselves with better knowledge about the evolving regulatory framework,”

The survey also honed in on other industry issues, revealing some key findings:

  • More than 72% of respondents believe that the marketplace lending industry is somewhat or very likely to consolidate in the foreseeable future.
  • The most popular asset classes amongst institutional investors are unsecured consumer, small business and real estate loans.
  • The primary risks in the industry at present are borrower quality, market-wide credit risk and regulatory risk.

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Source: 2016 Survey of U.S. Marketplace Lending

 

Steve Weiner, co-founder of Wharton FinTech, also weighed in:

 “Our second survey gives us a chance to compare data with last year’s baseline. We predicted that the views and actions of institutional investors toward this nascent industry would change rapidly, and this year’s results bear that out.”

The research concludes with some broad-brush forecasts about the future of marketplace lending:

  • Platforms will continue to explore more niche markets in an effort to avoid competition from established players.
  • There will be a greater integration between platforms and banks.
  • There will be significant regulatory developments over the next year.
  • There will be greater interest among investors in secured consumer loans, such as home mortgage loans or refinanced auto loans.
June 4, 2016
Comparing the Big Three – What effect is institutional involvement having on Gross Lending rates?
By Daniel Lanyon
June 14, 2016
European Banks – the most amazing transition in a generation?
By Josh Matthews
July 10, 2016
Why I think we are in a unique position
By James Sellon