8-K

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

Date of Report (Date of Earliest Event Reported) January 6, 2005

Macquarie Securitisation Limited (ABN 16 003 297 336)
(Exact Name of Registrant as Specified in its Charter)

New South Wales, Australia	333-105642	Not Applicable
(State or Other Jurisdiction of Incorporation)	(Commission File Number)	(I.R.S. Employer Identification No.)

Level 23, 20 Bond Street, Sydney NSW, 2000, Australia
(Address of Principal Executive Offices)	(Zip Code)

(011) 612 8232 3481

(Registrant’s Telephone Number, Including Area Code)

Not Applicable

(Former Name or Former Address, if Changed Since Last Report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

o   Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

o   Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

o   Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

o   Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

     

Exhibit Index Located on Page 5      

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TABLE OF CONTENTS

	Item 8.01 Other Events.
	Item 9.01 Financial Statements, Pro Forma Financial Information and Exhibits.
SIGNATURES
INDEX TO EXHIBITS
QUARTERLY SERVICING REPORT

Item 8.01 Other Events.

     On August 19, 2003, pursuant to a registration statement (No. 333-105642), Perpetual Trustees Australia Limited, in its capacity as issuer trustee (the “Issuer Trustee”) of the PUMA Global Trust No. 4 (the “Trust”), publicly issued initial principal amount U.S.$1,200,000,000 of Class A Mortgage Backed Floating Rate Notes and initial principal amount A$57,500,000 of A$ Class B Mortgage Backed Floating Rate Notes (the “Notes”). A regular quarterly distribution is due to be made by the Issuer Trustee to the holders of the Notes on the quarterly payment date falling on January 11, 2005. In connection with this quarterly payment date, the registrant, as the manager of the Trust, prepared and delivered a quarterly servicing report to the Issuer Trustee and The Bank of New York, New York, as principal paying agent and note trustee.

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Item 9.01 Financial Statements, Pro Forma Financial Information and Exhibits.

     List below the financial statements, pro forma financial information and exhibits, if any, filed as part of this report.

(a)   Financial Statements of Business Acquired.

     Not applicable

(b)   Pro Forma Financial Information.

     Not applicable

(c)   Exhibits.

Exhibit
No.	Document Description
99.1	Quarterly Servicing Report related to January 11, 2005 Quarterly Payment Date

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SIGNATURES

     Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

	MACQUARIE SECURITISATION LIMITED (Registrant)
Dated: January 6, 2005	By:	/s/ Matthew O’Hare
		Name:	Matthew O’Hare
		Title:	Treasurer

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INDEX TO EXHIBITS

Exhibit
No.	Document Description
99.1	Quarterly Servicing Report related to January 11, 2005 Quarterly Payment Date

5

EX-99.1

Exhibit 99.1

PUMA GLOBAL TRUST NO. 4 QUARTERLY SERVICING REPORT
THE QUARTERLY PERIOD FROM 12 OCTOBER 2004 TO 10 JANUARY 2005

NOTE INFORMATION

	Class A Notes	A$ Class B Notes
Original Principal Balance of each class of Note at the time of their issue	US$1,200,000,000	A$57,500,000
Principal Balance of each class of Note at the end of the immediately preceding Quarterly Payment Date	US$959,050,080	A$57,500,000
Amount to be applied towards payment of principal on each class of Note on this Quarterly Payment Date	US$60,939,840	A$0
Principal Balance of each class of Note after payments referred to above have been applied	US$898,110,240	A$57,500,000
Note Factor at the end of the Quarterly Payment Date	0.74842520	1.00000000
Amount to be applied towards payment of interest on each class of Note on this Quarterly Payment Date	US$5,454,597	A$896,693
LIBOR / BBSW in respect of this quarterly period	2.06000%	5.4050%
Rate of interest payable on each class of Note in respect of this quarterly period	2.25000%	6.2550%
SUBORDINATION LEVELS
Moody’s indicative required subordination level at time of issue	2.38%
Standard & Poor’s indicative required subordination level at time of issue	1.90%
Initial Subordination Level provided on the Closing Date	3.02%
Actual Subordination Level on this Quarterly Payment Date	4.00%
A$ REDRAW NOTES AND A$ SUBORDINATED NOTES
As at 4 January 2005 no A$ Redraw Notes or additional A$ Class B Notes have been issued
REDRAW FACILITY
Redraw Facility Limit as at 4 January 2005	A$7,500,000
Redraw Facility Principal at the commencement of this Quarterly Payment Date	A$250,000
Redraw Facility Principal at the end of this Quarterly Payment Date	A$250,000
Redraw Facility Principal repaid during the quarterly period	A$0
Aggregate Subordinate Funded Further Advance Amounts in relation to the Quarterly Payment Date	A$15,956
Interest paid on Redraw Facility Principal during the quarterly period	A$3,391
PRINCIPAL CASH BALANCE IN AUD
Principal Cash Balance at the commencement of this Quarterly Payment Date	A$7,664,810
Principal Cash Balance at the end of this Quarterly Payment Date	A$7,196,040
INCOME RESERVE IN AUD
Income Reserve at the commencement of this Quarterly Payment Date	A$0
Income Reserve at the end of this Quarterly Payment Date	A$0
COLLECTION INFORMATION IN AUD
Collections (1) held by the Trustee in relation to this Quarterly Payment Date	A$127,109,219
Less : Principal Cash Balance at the end of the Quarterly Payment Date	A$7,196,040
Less : Income Reserve at the end of the Quarterly Payment Date	A$0
Collections (other than Principal Cash Balance and Income Reserve) at the end of the Quarterly Payment Date	A$119,913,179
Less : Collections to be applied towards repayment of Redraw Facility Principal on the Quarterly Payment Date	A$0
Less : Collections to be applied towards payment of Expenses of the Trust in respect of this quarterly period	A$26,159,579
Collections to be applied towards repayment of US$ Notes on the Quarterly Payment Date	A$93,753,600
Principal Collections (net of redraws and further advances) in relation to this Monthly Payment Date	A$93,753,600
Less : Principal Collections applied or retained by the Trust to be applied towards the acquisition of substitute housing loans	A$0
Less : Principal Collections to be applied towards repayment of Redraw Facility Principal on the Quarterly Payment Date	A$0
Principal Collections to be applied towards repayment of US$ Notes on the Quarterly Payment Date	A$93,753,600
US$ Equivalent of Principal Collections to be applied towards repayment of US$ Notes on the Quarterly Payment Date	US$60,939,840

(1) The Collections figure shown is net of amounts applied or to be applied towards the acquisition of substitute housing loans and the funding of redraws and further advances

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PUMA GLOBAL TRUST NO. 4 QUARTERLY SERVICING REPORT IN RESPECT OF
THE QUARTERLY PERIOD FROM 12 OCTOBER 2004 TO 10 JANUARY 2005 (continued)

HOUSING LOAN POOL INFORMATION IN AUD

		Number of Housing	Maximum Current Housing	Minimum Current Housing
	Number of Housing Loans	Loan Accounts	Loan Balance	Loan Balance
Amount as at the close of business on the seventh business day prior to this Quarterly Payment Date	7,173	8,669	A$1,049,994	A$0
	Weighted Average Original	Weighted Average Current	Maximum Original	Total Valuation of the
	Loan-to-Value Ratio	Loan-to-Value Ratio	Loan-to-Value Ratio	Security Properties
Amount as at the close of business on the seventh business day prior to this Quarterly Payment Date	73.90%	69.13%	95.00%	A$2,393,665,900
	Outstanding Balance of	Outstanding Balance of Fixed	Outstanding Balance of	Average Current Housing
	Housing Loans	Rate Housing Loans	Variable Rate Housing Loans	Loan Balance
Amount as at the close of business on the seventh business day prior to this Quarterly Payment Date	A$1,432,011,916	A$109,682,861	A$1,322,329,055	A$199,639
	Maximum Remaining Term	Weighted Average Remaining	Weighted Average	Stated Income
	To Maturity	Term to Maturity	Seasoning	Proportion
Amount as at the close of business on the seventh business day prior to this Quarterly Payment Date	345 months	333 months	26 months	19.64%
			Aggregate outstanding
			balance of loans on which a
			Further Advance was made
	Aggregate amount of	Average amount of Further	immediately prior to the
	Further Advances made	Advances made per loan	Further Advances being made
Further Advances (not being subordinated further advances) made during the period from 1 October 2004 to 4 January 2005	A$8,120,090	A$51,720	A$33,681,494

DELINQUENCY INFORMATION

As at the opening of business on December 1, 2004.

			Outstanding Balance of the	Percentage of Pool by
			Applicable Delinquent	Outstanding Balance of
	Number of Housing Loans	Percentage of Pool by number	Housing Loans	Housing Loans
30 - 59 days	17	0.20%	A$3,945,147	0.28%
60 - 89 days	4	0.05%	A$1,212,644	0.08%
90 - 119 days	6	0.07%	A$2,052,816	0.14%
Greater than 120 days	11	0.13%	A$2,760,236	0.19%
Total Arrears	38	0.45%	A$9,970,843	0.69%

MORTGAGE INSURANCE CLAIMS INFORMATION

Details provided are in respect of the period since the Closing Date to the opening of business on December 1, 2004.

Amount of mortgage insurance claims made:	A$0
Amount of mortgage insurance claims paid:	A$0
Amount of mortgage insurance claims pending:	A$0
Amount of mortgage insurance claims denied:	A$0

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