LM's board of directors collectively offers extensive experience and specialist knowledge from the finance, insurance, legal, funds management and property sectors. The board comprises four Executive and two Non-Executive (independent) Directors.

LM's Board meets quarterly to discuss the strategic direction of LM, also monitoring its funds. LM has a strong commitment to corporate governance, compliance and risk management, and has a committee-based structure for all major decision making processes to ensure unlimate protection of investor funds.

The Directors encourage the key decision makers at LM to take a ' hands-on' approach to seeking new investment opportunities and anticipating market changes.

Company structure

LM's structure is designed to be flat and open. Management and day to day decision making at LM is carried out primarily through the senior executive committee and department team leaders.

We are accessible to financial adviser groups and commercial borrowers, providing them with prompt and professional decisions and advice.

Executives and representatives of the Board meet weekly to discuss issues pertinent to LM and its funds. Each executive is responsible to the Board for the operation of their own business unit. LM's Funds Management Committee meets monthly to analyse and review performance of the funds. LM's Compliance Committee meets quarterly to monitor and review compliance systems and processes to ensure they are in accordance with LM's Compliance Program and registered funds' compliance plans.

LM's Risk Management Committee meets monthly to monitor and review the risk and risk preventative measures within the organisation. LM's Arrears Management and Credit Committees meet weekly.

LM's PRAC Committee follows a disciplined approach to investment, and specifically tagets locations offering property growth opportunities and property sectors with are expected to perform.

Compliance culture

LM is licensed as an Australian Financial Services Licensee and Responsible Entity under the Corporations Act 2001 (Act). LM and its Funds are regulated by the Australian Securities and Investment Commission (ASIC).

In accordance with the Act all registered funds are required to have a compliance plan and constitution registered with ASIC. LM's registered funds and their compliance plans undergo independent external financial auduts on a biannual or annual basis, depending on the fund's legal requirements. The compliance plan stipulates the compliance measures and procedures to ensure that LM and the LM Funds remain compliant with the Act. The constitution states the rules within which the registered Funds operate.

As an unlisted company, LM is the subject of yearly financial audits under the Act. These audits are performed by an independent external auditor.

LM has implemented a compliance program which ensures best practice management and enables LM to focus on the most effective means of carrying on operations within the strict regulatory environment.

The underlying culture of compliance within LM ensures unequivocal commitment by all staff.