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Fund Summary

 

Fund Summary

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Fund TypeMortgage Investment Corporation (MIC)
Mortgages Under Administration$229.5MM CAD (June 2023)
Fund Inception DateIncorporated March 2007
Monthly Dividend Rate8.05% per annum Cash or DRIP (dividend reinvestment)

162 consecutive months of dividends paid, however monthly distributions are not guaranteed.
Share Price$100.00 per Class B Common Share (available via EMD)
$100.00 per Class F Common Share (available via Fundserv QWE834– no load)
$100.00 per Class I Common Share Contact Us
Minimum Investment$10,000 Class B
$10,000 Class F
$15,000.000 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 available (conditions may apply).
See Offering Memorandum for details, including redeemable on demand (with 60 days notice before year end).
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 inception1,900+ (over $775MM)
Shareholder Yield Class B (available via EMD)

2023: 8.05% (monthly distribution rate)
2022: 6.34% (audited)
2021: 5.68% (audited)
2020: 6.80% (audited)
2019: 7.00% (audited)
2018: 7.09% (audited)

3-year average: 6.27%
10-year average: 7.61%

Class F (available via Fundserv QWE834 – no load)

2023: 8.05% (monthly distribution rate)
2022: 6.87% (audited)
2021: 6.23% (audited)
2020: 7.33% (audited)
2019: 7.71% (audited)
2018: 7.65% (audited)

3-year average: 6.81%
Class F shares launched 2018

Class I (Contact Us)