Manning Asset Management
Manning Asset Management Pty Ltd (ACN 608 352 576, AFSL 509561) is an Australian based boutique fund manager that specialises in investments in private debt.
Our strategy is simple: we aim to be the leading fund manager in the emerging private debt asset class.
Manning Asset Management’s values are integrity, collaboration, diversity, leadership and empowerment.
Manning Asset Management was founded in 2015. The Manning Private Debt Fund was launched in April 2016.
Manning Asset Management has a team of investment professionals with over 100 years of collective experience across credit, debt markets, legal, risk and investment management operating within a well-defined governance structure.
Biographies can be located here on the Manning Asset Management website or within the Fund’s Information Memorandum.
Manning Asset Management follows its investment process in the selection and approval of opportunities. Firstly, Manning Asset Management considers the macro-economic environment and relevant portfolio positioning considerations. These are used to inform portfolio construction and appropriate weighting of potential suitable lenders and desirable asset characteristics. Manning Asset Management’s detailed due diligence process is then undertaken to analyse each potential lender’s operations and ensure a clear understanding of its risk profile of each lender and the underlying loans. Manning Asset Management has a proprietary 10 stage 100+ point checklist to inform its decision-making and meets with all prospective lenders’ management teams throughout this process. The final stage is the evaluation and management of the loan purchasing program.
Any decision to formally approve (or not) the lender and the debt which can be purchased is taken by Manning Asset Management’s Investment Committee.
Once purchased, the performance of the exposures within the Fund is monitored on an ongoing basis and reported to the Investment Committee. Manning Asset Management maintains ongoing dialogue with the lenders as to performance of the Fund’s exposures, as well as addressing other relevant matters, including any changes in underwriting approach, target customer base, business model and strategy. Insights from these discussions are fed back to inform the investment approach and future purchasing decisions.
Manning Asset Management’s proprietary 10 stage 100+ point detailed checklist requires significant detail and documentation to be provided to enable its completion. This is supplemented by interviews with members of the lender’s management teams (including at least one meeting at the lender’s premises). Transparency (both upfront and on an ongoing basis) is an important criteria of Manning Asset Management’s investment process; if Manning Asset Management feels it has received insufficient or incomplete information it will simply not invest.
Yes. ESG considerations are incorporated into Manning Asset Management’s investment process. Manning Asset Management will analyse ESG risks, building the consideration of these into the overall assessment of various lenders. We believe an integrated approach to ESG analysis enables a more balanced consideration of each lender’s investment proposition as a whole.
Manning Asset Management monitors its portfolio on an ongoing basis. Cash is monitored daily and performance of the underlying exposures is monitored on an ongoing basis and formally reviewed at a lender specific level by the Investment Committee each month. Similarly, the overall Fund investment performance is monitored on an ongoing basis with formal monthly updates reported to the Investment Committee.