Msquared Capital’s Board of Directors is comprised of three members, Chairman John Thomas and joint Managing Directors, Paul Miron and Paul Myliotis.



John (JT) Thomas has been involved in banking, finance and funds management activities for 46 years. After initial training with a major bank, a building society and then a credit union, John joined the Howard Group in 1987, where he began managing the Howard Mortgage Trust.

John is considered an expert in the commercial mortgage trust lending space. John has an enviable record for not having lost one cent of investor funds even during the GFC, in either his mortgage or property fund activities.

Managing Director

Paul Miron is respected and recognised for his economic views and ability to mitigate risks through well considered structuring. Paul is the principal theorist behind Msquared Capital‘s credit policy.

Paul has facilitated funding for many significant projects predominantly in NSW but also spanning VIC and QLD. Paul has over the years received numerous significant industry accolades and has been regularly engaged to present on the topics of lending, property, superannuation and complex structuring.

Managing Director

Paul Myliotis is well regarded and has a vast network of trusted industry contacts. Paul’s highly commercial view comes from a wealth of on-the-ground experience in the private lending space, greatly complementing the decisions of the credit committee.

In recent years, Paul’s primary focus has been in commercial and residential developing requirements managing transactions of varying degrees in size and complexity.


Msquared Contributory Mortgage Income Fund provides an opportunity to invest in a range of quality
registered mortgages.

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The trustee has the legal responsibility to manage the day-to-day function of the funds’ assets. Msquared Capital Pty Ltd (MCPL) (ACN 622 507 297, AFSL No. 520293) is the Trustee of the Msquared Contributory Mortgage Income Fund.

fund manager

The trustee has delegated the day to day Msquared Capital Funds Management Pty Ltd (MCFMPL) (ACN 644 643 274) is the Fund Manager of Msquared Contributory Mortgage Income Fund.

credit committee

The Msquared Capital Credit Committee is comprised of Msquared Capital’s Chairman and Managing Directors.

The Credit Committee is responsible for the overall credit risk and investment strategy of the Fund, and has been convened by the Manager.

Unanimous credit committee approval is required for a loan to progress to application. If any one member is not in favour of the loan, the Fund will pass on the opportunity.


Perpetual Corporate Trust Limited (ACN 000 341 533)

Perpetual Corporate Trust holds, safeguards and administers assets including cash, property and mortgages of the Fund protecting interests of investors. These assets are held and managed in accordance with a custody agreement and any regulatory obligations. As custodian, Perpetual are obliged to act on properly authorised instructions.

unit registry

One Registry Services Pty Limited (ACN 141 757 360)

One Registry Services is a specialist provider of registry services for financial market participants. They provide a complete registry solution for the Fund, including processing of Investor Application Forms, maintenance of unitholder registers and distributions. One Registry Services also provide the Investors with access to the Investor Portal.