Press Release – Foresight Assigns a ‘VERY STRONG’ Rating to the ORDE Income Fund.
Sydney, 16th June 2026
Foresight Ratings has recently completed a ratings assessment of the ORDE Income Fund.
The Investment Rating for the strategy has been determined to be VERY STRONG. The Product Complexity Rating has been confirmed as MORE COMPLEX.
A VERY STRONG rating indicates a very high level of confidence that the Fund can deliver a risk-adjusted return in line with its investment objectives. Designation as a MORE COMPLEX product reflects the Fund’s exposure to specialist non-bank mortgage lending, which requires specialist credit underwriting and ongoing portfolio monitoring expertise. Investor exposure to the Fund is provided through a non-unitised investment account structure. A 12-month term-based lock-up exists.
The ORDE Income Fund is a registered managed investment scheme investing in Australian real estate mortgage assets. It offers a pooled mortgage investment product which is unlisted, open-ended with 12-month term-based lock-up. The Fund has a non-unitised, investor account structure, with investors holding a direct interest in the underlying mortgage pool.
The Fund commenced in February 2026 with an initial seed of $100M, invested in a diversified pool of first-registered mortgage loans originated by ORDE across the residential, commercial, industrial, and development finance asset sectors. The Fund is currently available to wholesale investors only.
Governance is anchored by the majority-independent ORDE Capital Management Ltd. (OCML) board, and BNY Mellon acts as independent custodian and backup servicer. The investment team is deep and experienced, drawing heavily from former senior La Trobe Financial personnel.
Key strengths include the scale and credibility of ORDE’s lending platform, the resilient portfolio design, the committed liquidity framework targeting minimum 25% across all sectoral exposures, ORDE-funded reserves (arrears and portfolio reserves) and a commitment to rigorous transparency. A core advantage is its broker-first origination model, which leverages 8,000+ brokers with strong service delivery to support high-quality, consistent asset origination for the Fund. The broader ORDE lending business has $6.0bn in assets under management and in excess of 200 staff.
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About Foresight Analytics’ Investment Due Diligence Rating (IDD Rating)
The objective of Foresight Analytics’ Investment Due Diligence Rating (IDD Rating) is to identify the best funds and opportunities for future investment. We assess the fund’s historical risk-adjusted performance, compared to its peers, to form a holistic view of the manager’s ability to deliver future returns. The IDD rating indicates the quality of the investment option within the context of a diversified portfolio and full investment cycle.
Foresight’s analysts use a 5-point scale to determine how the fund will perform against a range of risk factors.
- SUPERIOR indicates the highest level of confidence that the fund can deliver a risk-adjusted return in line with its investment objectives and that it is highly suitable for inclusion on APLs.
- VERY STRONG indicates a very strong conviction that the fund can deliver a risk-adjusted return in line with its investment objectives and that it is suitable for inclusion on most APLs.
- STRONG indicates a strong likelihood that the fund can deliver a risk-adjusted return in line with its investment objectives and that it is suitable for inclusion on most APLs.
- COMPETENT indicates the fund may deliver a risk-adjusted return in line with its relevant benchmark and that it may be suitable for APLs.
- WEAK indicates the fund is unlikely to deliver a risk-adjusted return in line with its investment objective and that it is not suitable for most APLs.
A ‘Hold’ designation is applied to a fund’s rating if a material change impacts the fund manager, and we need to review the rating. A ‘Sell’ designation indicates the Foresight Investment Ratings Committee considers risk factors to be elevated enough that maintaining an investment in the fund as part of their diversified portfolio is questionable.
Foresight Analytics Foresight Complexity Indicator
A Foresight Complexity Indicator (FCI) highlights the complexity of an investment product based on a range of indicators. These typically include its terms and conditions, performance-based fees, liquidity structure, financial leverage, use of derivatives, rare and niche asset class/opportunity set, currency exposure and the level of transparency offered for investors. Foresight believes these factors can disproportionately affect risk-adjusted return outcomes for investors even if a manager is very skilled. Investors can use FCI as a guide to portfolio position sizing within a diversified portfolio context.
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