Allaria Lendar Fondo Común de Inversión Cerrado de Créditos (BYMA: ALLFD) is an Argentina-based closed-end credit mutual investment fund that specializes in the origination, financing, and management of U.S. dollar-denominated residential mortgage loans and asset-backed credit portfolios. The fund operates through an institutional management structure managed by Allaria Fondos Administrados S.G.F.C.I. S.A. (established in 2008 as the asset management arm of Allaria S.A., founded in 1968), in collaboration with investment advisor and mortgage origination platform Lendar S.R.L. and depository agent Banco Comafi S.A. Headquartered in Buenos Aires, Argentina, the fund operates within the domestic financial and real estate markets to channel private retail and institutional capital directly into real-economy housing credit. The entity's primary products and services include: U.S. dollar-denominated residential mortgage financing, offering private secured loans for residential real estate acquisitions with conservative underwriting metrics and loan-to-value caps; closed-end fund share units, providing exchange-traded shares on Bolsas y Mercados Argentinos under the ticker ALLFD that distribute recurring cash flows derived from the payment of principal and interest on underlying mortgage assets; mortgage credit portfolio administration, encompassing credit assessment, title verification, loan servicing, appraisal surveillance, and collateralized risk management; and retail-accessible structured fixed-income solutions, offering accessible dollar-denominated investment vehicles with medium-to-long term horizons of four to six years and periodic redemption windows. In recent corporate developments, the fund received official authorization from Argentina's National Securities Commission (CNV) in mid-2025 (Resolutions RESFC-2025-23192 and RESFC-2025-23237 under Registry No. 1706), marking the establishment of the first specialized dollar-denominated mortgage closed-end mutual fund in the Argentine capital markets; completed its initial public offering and commenced secondary market trading on BYMA in October 2025; successfully executed a capital expansion through a second subscription tranche offering in June 2026 under an updated regulatory prospectus; and expanded its strategic loan origination integration with Lendar S.R.L. to scale residential mortgage placement capacity nationwide.