AOFM Quarterly SFSF Update

AOFM Quarterly SFSF Update

AOFM Quarterly SFSF Update

Jan 11 2023
The AOFM has released an update on its SFSF activities as at 31 December 2022. As at this date, cumulative investment commitments made by the SFSF were $3.8 billion, while the total amount currently invested stands at ~$457m.

Public Markets
Public securitisation market investments of around $1.36 billion were made between late March 2020 and early July 2020. As at 31 December 2022, the book value of the SFSF’s public market investments stood at ~$388 million, representing a reduction of around $110 million for the quarter as a result of both amortisation and the exercising of call options by trustees.

Private markets
In private warehouse markets, a cumulative total of circa $2.3 billion in commitments were approved across 45 individual warehouses from 34 sponsors.

As at 31 December 2022, the SFSF had commitments in two warehouses from as many sponsors, and the approved SFSF limits within these facilities totalled $60 million, while the total drawn amount across these facilities stood at $47.6 million.  

The AOFM remains in active discussions with sponsors regarding the potential for replacement of the SFSF in the remaining warehouse investments.

Forbearance SPV
On the 31 March 2021, the Forbearance SPV availability period ceased and the Forbearance SPV moved into amortisation in April 2021 as planned. As at 30 September 2022, the balance of the Forbearance SPV stood at around $21.9 million across five remaining participating originators.

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SFSF Investment Reporting >