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Fund Summary

 

Fund Summary

Fund TypeMortgage Investment Corporation (MIC)
Lendable Funds$214.64 MM (July 2021)
Fund Inception DateIncorporated March 2007
Monthly Distributions6.3% per annum (not guaranteed) Cash or DRIP (dividend reinvestment) 144 consecutive months of distributions.
Share Price$100.00 per Class B Common Share (EMD)
$100.00 per Class F Common Share (IIROC – no load)
Minimum Investment$10,000
DividendsTaxed as interest income. T5 Tax Slips provided to Open/Cash Investors.
Credit / Leverage$78MM (RBC - Royal Bank)
Loan Asset ClassResidential Mortgages. Primarily single detached homes in urban Western Canadian cities (populations >75K) to arm’s length borrowers.
Redemption RightsMonthly redemption available (conditions may apply).
Redeemable on demand (with 60 days notice before year end). See Offering Memorandum for details.
Management Fee1.50% per annum of mortgages under management.
Registered FundsRRSPs, RRIFs, RESPs, LIRA and TFSA
Monthly Fast FactsMonthly Fast Facts
Mortgages advanced since fund's inception1,000+
Shareholder Yield (audited)2021: 5.65%
2020: 6.80%
2019: 7.15%
2018: 7.09%
2017: 7.03%
2016: 7.19%

3-year average: 6.54%
10-year average: 7.95%