Fund Summary
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| Fund Type | Mortgage Investment Corporation (MIC) |
| Mortgages Under Administration | $229.5MM CAD (June 2023) |
| Fund Inception Date | Incorporated March 2007 |
| Monthly Dividend Rate | 7.75% per annum Cash or DRIP (dividend reinvestment) 160 consecutive months of dividends paid. 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 |
| Dividends | Taxed as interest income. T5 Tax Slips provided to Open/Cash Investors. |
| Credit / Leverage | $100MM CAD available |
| Loan Asset Class | Residential Mortgages. Primarily single detached homes in urban Western Canadian cities (populations >75K) to arm’s length borrowers. |
| Redemption Rights | Monthly redemption is available (conditions may apply). See Offering Memorandum for details, including redeemable on demand (with 60 days notice before year end). |
| Management Fee | 1.50% per annum of mortgages under administration (MUA). |
| Registered Funds | RRSPs, RRIFs, RESPs, LIRA and TFSA |
| Fund Facts (updated monthly) | Monthly Fast Facts |
| Mortgages advanced since fund's inception | 1,900+ (over $775MM) |
| Shareholder Yield | Class B (available via EMD) 2023: 7.75% (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: 7.75% (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) |