Investing with Midlands

Midlands Mortgage Trust is a group investment fund that only invests in loans secured by first ranking mortgages over land and/or buildings.  The fund is conservatively managed and looks to provide investors with quarterly income and returns above 1-year bank term deposit rates. The portfolio is well diversified across residential, commercial and rural property spread throughout New Zealand.



annualised pre-tax return for quarter ended 30th June 2021

Investments & security

As an investor you invest in units in the Fund, your money is then pooled with other investors’ money and invested in a diverse portfolio of loans spread across residential, rural and commercial property throughout New Zealand.  All our loans are secured by first ranking mortgages over land and/or buildings, which means in the event of a default Midlands can exercise its right to sell the property.

Midlands follows relatively conservative policies for making loans, with a specific focus on Loan to Valuation Ratios (LVRs) and the servicing capability of our borrowers.

Click here for more information on our Investment Policy and Objectives.

We believe that diversifying your investment across the portfolio through the Fund and only lending against first mortgage security reduces the risk of poor returns from any single mortgage, while at the same time providing you with attractive risk-adjusted returns. This is explained in detail within our Product Disclosure Statement.

Regular income with competitive returns

Each quarter, Midlands distributes the net interest income from the fund.  You can choose to have the interest deposited into your bank account or automatically re-invest in units of the Fund.  Midlands aims to and has typically provided higher returns than 1-year trading bank term deposits. Click here to see historical returns.


Investors can invest a lump sum or make investments in smaller amounts at any time, subject to a minimum initial investment of $10,000 and thereafter amounts of $1,000 or more. Investments are not made for a fixed term and can be withdrawn at any time; however, given the nature of the underlying investments we suggest the minimum timeframe you should have in mind for holding your investment be 2 years. Generally, withdrawals will be actioned within a week of the Manager receiving the redemption request, however the Manager can suspend redemptions if financial, political or economic conditions warrant this. Your investment in the Fund cannot be sold or transferred to anyone else. More information on withdrawals can be found in our Product Disclosure Statement.


At the end of each quarter fund transactions will be suspended for a brief period while the quarterly distribution is processed.

Interest continues to be earned on existing investments during the suspense period but withdrawal and investment requests received during this time will only be processed on the day the Fund reopens.

The last day for withdrawals from the unit fund for the June quarter will be on Monday 28 June 2021.

The June distribution will then be processed.  The next processing day for withdrawals will be Thursday 1 July 2021.



There are no upfront fees required and currently no fees are charged on withdrawals. All management fees, trustee fees and other costs are deducted prior to determination of the quarterly return and distribution.

Invested funds

Midlands Mortgage Trust’s investment fund currently stands at approximately $80 million – with nearly 700 investors, including our team and board members.

Click here for more information on the funds’ investments.

Management of the Fund

The Midlands Mortgage Trust is managed by Midlands Funds Management Limited. Midlands Funds Management Limited is a professional team of experienced mortgage lenders, having been in operation since 2004 and dedicated solely to managing Midland’s funds. Click to view our team or our board.


Midlands deducts withholding tax from income at the investors’ marginal tax rate.  We would encourage investors to seek their own independent tax advice.

Regulation & supervision

The Fund is overseen by an independent supervisor, Trustees Executors Limited, licensed under the Financial Markets Supervisors Act 2011. Midlands is also licensed by the Financial Markets Authority as a manager of registered schemes that invest solely in first mortgages and cash. Click here to view our FMA license.

Reserve fund

Midlands Mortgage Trust follows conservative lending policies to reduce risk to investors.  A small part of the Fund’s income is allocated to a reserve fund that helps meet possible losses on individual loans. This does not have a material effect on income distributions.

Product Disclosure Statement 

Midlands encourages you to read all investment documents carefully. If you are unsure of the meaning of any content or if you have any questions relating to investing, we advise you seek clarification from a financial adviser or other appropriate professional experienced in this area. A Product Disclosure Statement for the Midlands Mortgage Trust Group Investment Fund has been registered on the Disclose Register. Click here to view our Product Disclosure Statement.