CRUSADE MANAGEMENT LTD
6-K, 2001-01-11
ASSET-BACKED SECURITIES
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                       SECURITIES AND EXCHANGE COMMISSION
                             Washington, D.C. 20549

                                    FORM 6-K

                       SECURITIES AND EXCHANGE COMMISSION
                              Washington D.C. 20549

                            Report of Foreign Issuer
                      Pursuant to Rule 13a-16 or 15d-16 of
                       the Securities Exchange Act of 1934


For the month of January 2001

                           Crusade Management Limited,
                           --------------------------
              as manager of the Crusade Global Trust No. 1 of 1999
             (Exact name of Registrant as specified in its Charter)


             Level 11, 55 Market Street, Sydney, NSW 2000, Australia
             -------------------------------------------------------
                    (Address of principal executive offices)

     Indicate  by check mark  whether the  registrant  files or will file annual
reports under cover Form 20-F or Form 40-F.

              Form 20-F    X                Form 40-F
                        -------                       -------

     Indicate by check mark whether the registrant by furnishing the information
contained  in this  Form is  also  thereby  furnishing  the  information  to the
Commission pursuant to Rule 12g3-2(b) under the Securities Exchange Act of 1934.

                       Yes               No   X
                           -------         --------

     If  "Yes"  is  marked,  indicate  below  the file  number  assigned  to the
registrant in connection with Rule 12g3-2(b): 82-                             .
                                                  ----------------------------


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<PAGE>

Other Events

     As of December  11,  2000 all of the shares in AXA  Trustees  Limited,  the
issuer trustee,  have been acquired by Perpetual Trustees Australia Limited.  As
set out in the  original  offering  circular,  the notes have been issued by AXA
Trustees Limited in its capacity as trustee of the Trust and the personal assets
of the issuer are not available for recourse to investors.

     As a result of the change in  ownership,  the name of AXA Trustees  Limited
will be changed to Perpetual Trustees Consolidated Limited. The directors of the
issuer trustee as of today are:



Name                   Business Address                   Principal Activities

Graham Bradley         Level 7, 39 Hunter Street          Director
                       Sydney, New South Wales 2000
                       Australia

Gai McGrath            Level 7, 39 Hunter Street          Director
                       Sydney, New South Wales 2000
                       Australia

Michael Stefanovski    Level 7, 39 Hunter Street          Director
                       Sydney, New South Wales 2000
                       Australia

Andrew McKee           Level 7, 39 Hunter Street          Director
                       Sydney, New South Wales 2000
                       Australia

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<PAGE>
                                   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,  as Trust
Manager  for the  Crusade  Global  Trust  No.  1 of  1999,  by the  undersigned,
thereunto duly authorized.


                                Crusade Management Limited,
                                as Trust Manager for the Crusade
                                Global Trust No. 1 of 1999,
                                ---------------------------------------
                                (Registrant)



Dated: January 9, 2001


                            By: /s/
                                Name:  R. Desmarchelier
                                Title: Executive Manager Securitisation



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