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19 Jul 2021
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4 minute read

Plenti Lending Platform: June 2021 quarterly data report

Our quarterly data report in relation to the Plenti Lending Platform (PLP) loan book and provision fund performance.

Plenti Group Limited (Plenti or the Company) is pleased to provide its quarterly data report in relation to the Plenti Lending Platform (PLP) loan book.

Shareholders in Plenti should be aware that the data provided in this report only relates to the PLP and does not provide a complete picture of Plenti's total loan portfolio. In particular, it does not include data on loans funded via the Company's warehouse facilities and the Plenti Wholesale Lending Platform. Shareholders should refer to the quarterly trading update released to the ASX on 13 July 2021 for data in relation to the performance of the entire Plenti loan portfolio.

The PLP is a registered managed investment scheme with over 23,500 members (who are predominantly retail investors). Plenti releases to its website the data in this report on a quarterly basis to members who invest in the PLP. Plenti has also released this information to the ASX each quarter, however, as the PLP now represents a less significant proportion of Plenti's total loan funding the Company will discontinue providing this release to the ASX in future periods.

PLP lending statistics as at 30 June 2021

Lending StatisticsTotal
Total amount lent1$825,364,848
Total principal repaid$571,203,270
PLP loan book$254,161,578
Number of loans outstanding22,751
Average outstanding loan amount$11,171
Weighted average remaining term40 months

An important feature of the PLP is the Provision Fund. The Provision Fund comprises cash held on trust for the benefit of members who invest via the PLP and is designed to help protect them from loss in the event a borrower misses a payment or defaults. Information on the Provision Fund position as at 30 June 2021 is set out below.

Cash in Provision Fund1$14,269,076
Expected Provision Fund inflows2$5,088,755
Provision Fund buffer3$19,357,831
Estimated Provision Fund coverage ratio4199%
Claims made on Provision Fund to date100% of late payments and defaults
Claims paid by Provision Fund to date100% of total claim value

PLP loan and borrower characteristics as at 30 June 2021 (based on principal outstanding)

Further information regarding loans funded via the Plenti Lending Platform can be accessed here: https://www.plenti.com.au/newsroom/provision-fund-loan-book-update-june-2021/

All numbers in this release are preliminary and unaudited. This release was approved by the Chief Executive Officer on behalf of the Plenti board of directors. For more information, please contact Julia Lefort, Head of Corporate Affairs, julia.lefort@plenti.com.au, 0415 661128.

The information contained in this blog is accurate only at the date of publication. Expected losses and the performance of the Plenti Lending Platform loan book cannot be known with certainty and expectations are subject to change. Lender rates may assume your investment is protected by the Provision Fund in the event of any borrower late payment or default, however, there is no guarantee nor warranty as to any protection from the Provision Fund. Fees apply. Capital at risk. See the PDS and SPDS for details.

This information should not be taken as financial product advice and has been prepared as general information only without consideration of an individual’s particular investment objectives, financial circumstances or needs. Consider the Product Disclosure Statement (PDS) and Target Market Determination (TMD) available on our website to decide if this product is right for you. 

All figures stated represent the Plenti Lending Platform (ARSN 169 500 449) only unless stated otherwise.

The availability of the Early Access Transfer Feature is at Plenti's discretion and is subject to the terms and conditions set out in the PDS.

Issued by Plenti RE Limited ABN 57 166 646 635 AFSL 449176. Capital at risk. Past performance is not a reliable indicator of future performance. 

1 Lending statistics since inception

1 Funds currently held as cash at bank

2 Expected Provision Fund inflows represents contracted PLP borrower contributions to the Provision Fund due over the lifetime of outstanding PLP loans, adjusted to reflect expected early repayments and bad debt

3 Provision Fund buffer is the sum of money in the Provision Fund and expected future Provision Fund inflows

4 Provision Fund coverage ratio is calculated as estimated future lifetime losses from the current PLP loan book over the Provision Fund buffer

Important information*

This information does not constitute financial advice and you should consider whether it is appropriate to your circumstances before you act in reliance on it. Any opinions, forecasts or recommendations reflect the judgement and assumptions of Plenti as at the date of publication and may later change without notice.

Acknowledgement of Country

Plenti respects and honours Aboriginal and Torres Strait Islander Elders past, present and future. We acknowledge the stories, traditions and living cultures of Aboriginal and Torres Strait Islander peoples on this land and commit to building a brighter future together.

We recognise the Gadigal people of the Eora Nation, who are the traditional custodians of the land on which Plenti’s Sydney office stands, and the Kaurna people as the traditional owners of the Country where our Adelaide team is located.