AOFM Quarterly SFSF Update

AOFM Quarterly SFSF Update

AOFM Quarterly SFSF Update

Oct 12 2020

The AOFM has released an update on its SFSF activities as at September 30. As at this date, total funds invested or committed by the SFSF were $3.6 billion.

Public Market Support

The AOFM reported that public securitisation market conditions improved during the quarter, reducing the need for SFSF support for primary and secondary markets. 

Cumulative public market investments made since the SFSF’s inception stood at around $1.36 billion as at 30 September, and around $119 million was invested in the quarter, specifically in early July.

A table summarising the 12 primary market transactions supported by the SFSF in the quarter is available on the AOFM website.

Private (warehouse) markets

The AOFM continued to receive expressions of interest for the SFSF to invest in private warehouse facilities throughout the quarter and has made progress in assessing the many proposals received since late March. As at 30 September 2020, SFSF commitments of circa $2.1 billion have supported 39 individual warehouses sponsored by 29 eligible lenders.

Forbearance SPV

During the course of the September quarter, arrangements were finalised for the establishment of the Forbearance SPV (fSPV) and 63 trusts sponsored by five participating originators were approved for inclusion. The total approved limits for these participants is $95.5 million. The first draw on the fSPV occurred in September.

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