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The Australian Business Securitisation Fund Act 2019 (the Act) established the Australian Business Securitisation Fund (ABSF) to improve debt funding opportunities for small and medium enterprises (SMEs) by developing the institutional funding market for SME lenders.
The ABSF is administered by the Australian Office of Financial Management, which directs its investments in accordance with the Act and its associated investment mandate, as well as its own ABSF investment principles. A total of $2 billion will be made available for ABSF investments over five years.
The Act requires a review to be undertaken as soon as practicable two and five years after commencement to assess the ABSF’s progress in meeting the objectives of the Act. The Treasurer announced the two‑year review on 20 December 2021, and Treasury then undertook industry consultation.
Treasury’s report to the Minister following its review finds that the ABSF is making progress towards meeting the objectives of the Act and has broad industry support to continue operating.