linebg

Fund Summary

 

Fund Summary

24 Fund Facts | Monthly Reports | Fund SummaryFact FridayAP on all the social networks 

Fund TypeMortgage Investment Corporation (MIC)
Mortgages Under Administration$234MM CAD (April 2024)
Fund Inception DateIncorporated March 2007
Monthly Dividend Rate8.50% p.a. - Class B
9.00% p.a. - Class F

Cash or DRIP (dividend reinvestment)

170 consecutive months of dividends paid, however monthly distributions are not guaranteed.
Share Price8.50% p.a. - Class B
9.00% p.a. - Class F

Cash or DRIP (dividend reinvestment)

169 consecutive months of dividends paid, however monthly distributions are not guaranteed.
Minimum Investment$10,000 Class B
$10,000 Class F
$15MM Class I
DividendsTaxed as interest income. T5 Tax Slips provided to Open/Cash Investors.
Credit / Leverage$100MM CAD (3 of Canada's big 5 banks in syndication)
Loan Asset ClassResidential Mortgages. Primarily single detached homes in urban Western Canadian cities (populations >75K) to arm’s length borrowers.
Redemption RightsMonthly redemption is the fund's practice (conditions may apply).
See Offering Memorandum for details on restrictions that may apply.
Management Fee1.50% per annum of mortgages under administration (MUA).
Registered FundsRRSPs, RRIFs, RESPs, LIRA and TFSA
Fund Facts (updated monthly)Monthly Fast Facts
Mortgages advanced since fund's inception2,000+ (over $900MM)
Shareholder Yield Class B (available via EMD)

2024: 8.50% (monthly distribution rate)
2023: 7.84% (audited)
2022: 6.34% (audited)
2021: 5.68% (audited)
2020: 6.80% (audited)
2019: 7.00% (audited)
2018: 7.09% (audited)

3-year average: 6.62%
10-year average: 7.61%

Class F (available via Fundserv QWE834 – no load)

2024: 9.00% (monthly distribution rate)
2023: 8.36% (audited)
2022: 6.87% (audited)
2021: 6.23% (audited)
2020: 7.33% (audited)
2019: 7.71% (audited)
2018: 7.65% (audited)

3-year average: 7.15%
Class F shares launched 2018

Class I (Contact Us)