Fund Summary
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Fund Type | Mortgage Investment Corporation (MIC) |
Mortgages Under Administration | $257MM CAD (January 2025) |
Fund Inception Date | Incorporated March 2007 |
Monthly Dividend Rate | 8.50% p.a. - Class B 9.00% p.a. - Class F Cash or DRIP (dividend reinvestment) Monthly distributions are not guaranteed. |
Share Price | $100/share - Class B $100/share - Class F |
Minimum Investment | $10,000 Class B $10,000 Class F $15MM Class I |
Dividends | Taxed as interest income. T5 Tax Slips provided to Open/Cash Investors. |
Credit / Leverage | $100MM CAD (3 of Canada's big 5 banks in syndication) Fiscal year 2024: debt to equity: 28.15% |
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 the fund's practice (conditions may apply). See Offering Memorandum for details on restrictions that may apply. |
Management Fee | 1.50% per annum of mortgages under administration (MUA). |
Registered Funds | RRSPs, RRIFs, RESPs, LIRA and TFSA |
Fund Facts (updated monthly) | Monthly Fund Facts |
Mortgages advanced since fund's inception | 2,400+ (over $1.04 B) |
Shareholder Yield | Class B (available via EMD) 2025: 8.50% p.a. monthly distribution 2024: 8.52% 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: 7.57% 10-year average: 7.06% Since inception: 8.62% Class F (available via Fundserv QWE834 – no load) 2025: 9.00% p.a. monthly distribution 2024: 9.16% 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: 8.13% Annualized average return of 7.62% since 2018 (Class F shares introduced) Class I Contact Us |