Before a registration of the Finexim Mortgage Investment Fund (the Fund), Finexim was a trading name for SIM International Pty Ltd (SIM), the company which provides financial and accounting services since its formation over 23 years ago.
Until 2004, SIM had been closely associated with the Ukrainian based private company Symbiosis Ltd. In 1989, the company developed a specialised financial product and offered it predominantly to wholesale Investors in Eastern Europe and Australia across a period of nearly 15 years. The main feature of this financial product was the issue of securities backed by specific qualities of wool (including Australian wool) redeemable at various stages of the production process.
In late 2000, Symbiosis Ltd acquired one of the largest and most technologically advanced companies in the wool industry of Eastern Europe including wool processing facilities, a wholesale, and retail network with a total staff of over 3,500.
The main responsibility of SIM ( at the time a member of Australian Wool Exchange) in the new company structure of Symbiosis, was to provide financial and accounting services over the whole spectrum of the company’s business activity, including supply of raw material, manufacture and its distribution and retail network.
Since 2009, following the company’s scheduled reorganisation, SIM business activities include the provision of accounting, tax agent and credit services to entities and individuals engaged in various sectors of the Australian economy.
In 2013, the management of SIM in collaboration with its partners thoroughly analysed the results of the prolonged studies of the managed investment business and its opportunities. Based on these analyses, the management manufactured a project of the financial product the features of which, from the management point of view, would satisfy requirements of specific categories of investors and borrowers.
In September 2013, the management along with the partners established a public company under the name of Finexim Ltd that in turn enabled to apply for Australian Financial Services License and on 14 July 2015 register its financial product under the name of Finexim Mortgage Investment Fund with Australian Security Investment Commission.