Solid Returns in a Year That Tested the Market
As we close out FY2026, Active Property Group (APG) is pleased to report that our pooled mortgage fund, the PMAC Trust, delivered an average 8.14% p.a. return throughout the financial, landing squarely within our targeted 8% – 9% p.a. range for our investors.
It’s a result we’re genuinely proud of as it came in one of the more volatile years for interest rates and credit markets in recent memory. Delivering results within our target range in that environment is a strong endorsement of our lending discipline and the security built into every loan in the portfolio.
A Year of Two Halves for Interest Rates
Earn Passive Income With Our Pooled Mortgage Fund
Quarterly distributions
Minimum investment from just $10K
No lock-in investment term
FY2026 opened with the cash rate at 3.60%, following the RBA’s run of cuts through late 2024 and into 2025, and inflation sitting comfortably within RBA’s 2 – 3%. This didn’t last, however.
Through the back half of 2025, inflation began climbing again, driven by housing, food and energy costs. By early 2026, the RBA had reversed course entirely.
Between February and May 2026, the Board delivered three consecutive rate hikes, taking the cash rate to 4.35% and fully undoing the prior easing cycle. For a market that had spent a year expecting rates to fall further, this was a significant reset, affecting funding costs, borrower serviceability and investor expectations across the entire private credit sector.
Not to mention, global events such as conflicts in the Middle East added to the economic uncertainties in the country, due to the massive hikes in the price of oil, and massive drops in the value of Gold.
Against that backdrop, delivering 8.14% p.a. reflects the strength of a lending model built on registered mortgage security, conservative loan-to-value ratios and a diversified loan book, rather than betting on the rate cycle going our way.
Key Highlights from FY2026
Deal Flow Accelerated Through the Year
We closed 115 deals in FY2026, worth a combined $14.62 million across the PMAC Trust and PMA Direct pipelines. Momentum built steadily as the year progressed.
The fund closed more in the final quarter (April – June 2026) than it did in the entire first half of the financial year. April alone delivered $3.25 million across 16 deals, our strongest single month of FY2026.
Growing Investor Confidence
- Average investment across the fund was $119,420.84, up 26.58% on the year prior
- Average investment from Wholesale investors rose to $209,632.19, up 16.91%
- Average investment from Retail investors reached $38,875.00, up 8.2%
Investors are continuing to commit more capital per investment; a trend that has now held for two years running, and one we read as a sign of deepening trust rather than a one-off.
Existing Investors Stayed, New Investors Arrived
Of the $12.66 million invested into the PMAC pipeline this year, 55.3% ($6.99 million) came from existing investors reinvesting, and 44.7% ($5.66 million) came from new investors joining the fund for the first time.
This tells us that existing investors remain confident enough in the fund to keep committing further capital, while the fund is also successfully attracting a healthy stream of new investors alongside them.
By investor type, 82.8% of investment came from Wholesale investors and 17.2% from Retail, while by entity structure, Individual/Joint investors and SMSFs were the largest contributors to the fund, at $7.25 million and $4.44 million respectively.
Looking Ahead to FY2027
To our valued investors: thank you for staying the course with us through a year impacted by so many high-impact economic events. As we head into FY2027, we remain focused on the fundamentals that got us through FY2026: disciplined risk management, responsible due diligence, and maintaining the highest standard when it comes to managing our loan portfolio.
It is our commitment to our investors to keep our promise of offering sustainable, competitive passive returns by providing quality mortgage investments that safeguards investor capital.
Interested in joining our growing investor base? Learn more about the PMAC Trust pooled mortgage fund today. For inquiries about investing in private mortgages, contact our Investor Relations team by booking a call or reaching out via our Contact Page.
If you have any questions about investing in private mortgages then please send us a message via our Contact Page.
