Earn income through a diversified portfolio of New Zealand property loans, all secured by first-ranking mortgages, with returns that move with interest rates.
The Oyster Credit Fund returned 7.43% p.a. annualised in September 2026.
7.43%
p.a.
ANNUALISED PRE-TAX RETURN.
Comprising the fixed margin above the 30-day BKBM rate captured on 1 September 2026 of 2.93%. Past performance is not a reliable indicator of future performance.
BKBM+4.5%
p.a.
Returns that move with rates.
Target return of 30-day BKBM plus a 4.5% p.a. margin.
$250,000
Available to wholesale investors only, as defined under the FMCA 2013.
Minimum investment.
INVESTMENT OVERVIEW
Access the Credit Fund Overview
Discover how the Oyster Credit Fund puts investors capital to work through property-backed lending.
Download the Investment Overview to explore the Fund's income strategy, lending approach, key investment features and the team behind it.
Enter your name and email to access your copy.
Investor capital can be matched by senior bank funding on a 1:1 basis, with loan-by-loan due diligence undertaken by the bank.
Bank-backed platform
As a Portfolio Investment Entity, income is taxed at your PIR, capped at 28%.
Tax-efficient PIE fund
Diversified property lending, conservative portfolio limits and protection built into the structure.
Built to protect capital
After the 12-month lock-in,
investors can apply to withdraw
with six months’ notice.
Withdrawal flexibility
Built for income,
structured for resilience
INVESTMENT HIGHLIGHTS
INVESTMENT HIGHLIGHTS
Built for income,
structured for resilience
As a Portfolio Investment Entity, income is taxed at your PIR, capped at 28%.
Tax-efficient PIE fund
Investor capital can be matched by senior bank funding on a 1:1 basis, with loan-by-loan due diligence.
Bank-backed platform
Diversified property lending, conservative portfolio limits and protection built into the structure.
Built to protect capital
After the 12-month lock-in, investors can apply to withdraw with six months’ notice.
Withdrawal flexibility
FLOATING-RATE INCOME
Make rising interest
rates work for you
Rising interest rates can challenge an investment portfolio. They can also create an income opportunity.
The Oyster Credit Fund targets a pre-tax return of 4.5% p.a. above the 30-day BKBM, a New Zealand interest-rate benchmark. As BKBM moves, the Fund's target return moves too.
The result is an income stream that can strengthen when higher rates put pressure on other asset classes.
BUILD TO PROTECT YOUR CAPITAL
Protection built
into the structure
Exposure across borrowers, assets and deals, reducing reliance on any single loan.
Diversification
A portfolio loan-to-value ratio of 65% or below. Borrowers hold meaningful equity ahead of the Fund.
Conservative gearing (≤65%)
Every loan the fund has exposure to is secured by a registered first-ranking mortgage over property in NZ’s metropolitan areas.
First-mortgage security
Selective lending
Track record
An extra layer of protection, built to absorb loan losses up to the amount held in the reserve.
Principal & interest reserve
A focus on borrowers with a successful track record and clear repayment plans. We don't fund construction.
Backed by specialists with a proven track record.
Request the Information Memorandum
Ready to explore further? Request the Information Memorandum for details on:
-
How income is generated
-
Who can invest and how to apply
-
The lending strategy, loan security and approach to managing risk
-
Fees, withdrawal terms and other investment considerations
Request the Information
Memorandum
Ready to explore further?
Request the Information Memorandum for details on:
-
How income is generated
-
Who can invest and how to apply
-
The lending strategy, loan security and approach to managing risk
-
Fees, withdrawal terms and other investment considerations
BUILD TO PROTECT YOUR CAPITAL
Protection built into the structure
Exposure across borrowers, assets and deals, reducing reliance on any single loan.
Diversification
A portfolio loan-to-value ratio of 65% or below. Borrowers hold meaningful equity ahead of the Fund.
Conservative gearing (≤65%)
Every loan is secured by a registered first-ranking mortgage over NZ property.
First-mortgage security
An extra layer of protection, built to absorb loan losses up to the amount held in the reserve.
Principal & interest reserve
Selective lending
A focus on borrowers with a successful track record and clear repayment plans. We don't fund construction.
Track record
Backed by specialists with a proven track record.
Enhanced Liquidity
Unlike direct property investment, capital isn’t tied to asset sales. After the initial lock-in period, investors can apply to withdraw with 6 months’ notice.
It is a structured, predictable process - and provides a useful layer of flexibility alongside longer-term property asset holdings.
Full terms are available in the Information Memorandum
Capital Preservation
Diversification
Investors gain exposure to a diversified portfolio of first-mortgage loans across multiple borrowers, assets and deals, reducing reliance on the performance of any single loan.
First-mortgage security
The Fund provides exposure to a diversified portfolio of loans, secured by first-ranking mortgages, given the underlying lending takes a priority security position. All loans are secured over residential and commercial real estate in New Zealand’s metropolitan centres.
Selective lending
The Fund only lends against assets with viable exit strategies, valued on an as-is basis – not against future development potential or projected values. No construction loans. No unfinished developments. No speculative positions.
Conservative gearing
The portfolio maintains a loan-to-value ratio of 65% or below. Borrowers hold meaningful equity in every deal - equity that sits ahead of the Fund in any downside scenario.
Invested alongside you
A capital reserve is built and maintained by the Fund's managers from free cash flow - never from investor funds. It is in place to absorb any credit loss before investors are impacted.
Fortis Capital
20+ years combined private credit experience across banks and non-banks · No investor capital losses to date · Specialist real estate credit expertise.
Oyster Property Group
20+ years in property funds management · ~$1.8b in assets under management · Governance, oversight and stewardship · In-depth insight into the New Zealand market.
BACKED BY PROPERTY & CREDIT SPECIALISTS
Oyster and Fortis,
together as Rockpool Capital
Rockpool Capital, the Fund’s lending platform, is a joint venture between Oyster Property Group and Fortis Capital, providing access to private real estate credit opportunities.
Fortis Capital
20+ years combined private credit experience across banks and non-banks · no investor capital losses to date · specialist real estate credit expertise.
Oyster Property Group
20+ years in property funds management ·
~$1.8b in assets under management · governance, oversight and stewardship · deep NZ market insight
BACKED BY PROPERTY & CREDIT SPECIALISTS
Oyster and Fortis,
together as Rockpool Capital
Rockpool Capital, the Fund’s lending platform, is a joint venture between Oyster Property Group and Fortis Capital, providing access to private real estate credit opportunities.
OUR LENDING PLATFORM:
Backed by property and credit specialists
Rockpool Capital, the Fund’s lending platform, is a joint venture between Oyster Property Group and Fortis Capital - providing access to private real estate credit opportunities.
Our wholesale investments give qualified investors access to premium commercial property portfolios offering income and growth potential, with a risk profile that is aligned to experienced investors.
Enhanced Liquidity
Oyster Credit Fund FAQs
The Oyster Credit Fund is a wholesale investment fund that provides investors with indirect exposure to income generated from property-backed lending.
Rather than investing directly in property, the Fund participates in returns generated by a diversified portfolio of short-term loans secured by first-ranking mortgages over residential and commercial property in New Zealand's metropolitan centres.The Fund is available to wholesale investors only, as defined under the Financial Markets Conduct Act 2013. It is designed for investors seeking regular monthly income, exposure to asset-backed lending rather than direct property ownership, and diversification within an existing investment portfolio.
Returns are generated from interest paid by borrowers on loans originated and managed by Rockpool Capital, the Fund's lending platform.
Interest is calculated by adding a fixed 4.5% margin to the 30-day Bank Bill Benchmark Rate (BKBM) - New Zealand's primary wholesale floating rate benchmark.
Income received flows through the Fund and is intended to be distributed to investors monthly, subject to the Fund's terms and available cashflow.No. The Fund does not own property or invest directly in property assets. It provides indirect exposure to property-backed lending, where the underlying loans are secured by registered first-ranking mortgages over completed residential and commercial assets in New Zealand.
The Fund does not hold property mortgages directly. The underlying loans originated by Rockpool Capital are secured by registered first-ranking mortgages over the relevant properties. The Fund has indirect exposure to those loans through its investment structure.
Risk management is supported through a combination of diversification across multiple borrowers, assets and loan transactions; conservative loan-to-value ratios capped at a portfolio weighted average of 65%; short-duration loan terms of up to 18 months; lending only against completed assets valued on an as-is basis; and active underwriting, monitoring and governance through Rockpool Capital's credit processes.
Full details of the risks associated with investing in the Fund are set out in the Information Memorandum.Rockpool Capital is the Fund's dedicated lending platform, responsible for sourcing lending opportunities, underwriting and approving loans, managing borrower relationships, and overseeing loan performance and repayments.
Rockpool Capital is a 50/50 joint venture between Oyster Property Group and Fortis Capital, combining Oyster's property investment and funds management expertise with Fortis' specialist private credit experience.The Fund offers a structured withdrawal facility that may provide greater flexibility than direct property ownership. Following the Fund's initial 12-month lock-in period, investors may apply to withdraw their capital with six months' written notice.
Withdrawals are subject to the Fund's terms, available liquidity, and the Manager's discretion. Withdrawals may be deferred or suspended in certain circumstances, as described in the Information Memorandum.The Fund operates as a Portfolio Investment Entity (PIE). Income is taxed at each investor's Prescribed Investor Rate (PIR), which may result in tax efficiencies depending on individual circumstances. Investors should seek independent tax advice.
This webpage provides a high-level overview only. Prospective investors should carefully review the Information Memorandum and seek independent financial, legal and tax advice before deciding whether to invest.
†The Oyster Credit Fund is available only to Wholesale Investors (as defined in Schedule 1 of the Financial Markets Conduct Act 2013).
†Any offer to invest in the Oyster Credit Fund is made solely under, and subject to, the Information Memorandum, including the risks, terms and conditions described in that document. Prospective investors should read the Information Memorandum in full before making any investment decision.
*References to investment returns or capital outcomes are indicative only and not guaranteed. See the Investment Memorandum for further detail.