The CMI MIC Balanced Mortgage Fund (the “Fund”) provides Unitholders with exposure to the Canadian real estate market through a diversified portfolio of dividend-paying real estate securities. The Fund targets an 8 – 9% annual return. The Fund’s objective is to pay monthly dividends to Unitholders and preserve capital while generating an attractive and consistent long-term yield.
Investments in this fund are RRSP, RRIF, RESP, LIRA, LIF, TFSA and RDSP eligible.
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Investment Approach
The Fund focuses on short-term, first and second position residential mortgages with robust economic fundamentals. With a moderate, balanced approach relative to risk and return, the Fund includes both first and second mortgages that do not exceed an average of 75% LTV.
Managed by a team of experienced mortgage and investment professionals, this Mortgage Investment Corporation (MIC) is well-diversified across geographic region, borrower, mortgage type and duration – all of which are 100% secured by collateralized real estate. Overhead and carrying costs are kept to a minimum in order to lower fees and maximize returns for investors.
Funds Information
The Fund is well-diversified with a balanced focus.
| Weighted Average LTV | 66.85% |
| Average Number of Mortgages | 329 |
| Average Mortgage Size | $363,078 |
| Weighted Average Interest Rate | 7.34% |
| Residential mortgages | 98.51% |
| Fund Type | Investor Risk Profile |
| Inception | July 2015 |
| Redemptions | Quarterly |
| Management Fee | 1% |
| AUM at June 2022 | $122 Million |
| Divident Re-investment Plan (Drip) | Yes |
| Eligible for Registered Plans | Yes |
| Fundserv Codes | Class A: CCI 301 Class F: CCI 302 |
| Investor Risk Profile | Moderate |
Mortgage Allocation Per Building Type
- Residential
- Commercial
Mortgage Allocation Per Security Position
- First
- Second
- Third
- Blanket
Geographical Region
- Alberta
- B.C
- Manitoba
- New Brunswick
- Ontario
- Québec
Historical Performance
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CMI MIC Funds provide choice, transparency and performance in an accessible mortgage investment fund that targets a consistent, attractive return that’s not typically correlated with publicly-traded markets and the volatility they can experience.
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CMI’s Track Record of Performance
CMI is an industry leader in the alternative lending and investment markets. We have been recognized in recent years on both the Canadian Business Growth List as well as The Globe and Mail’s Report on Business (ROB) Top Growing Companies in Canada2.
Our track record includes:
10 years’ experience of managing real estate investments3, six in the mortgage investment corporation funds market with a corporate AUM of $600 Million4.
Over $1 billion dollars in mortgage originations since inception.
Our MIC managers have a loan loss rate of less than 1%5 since inception, due to our rigorous due diligence in mortgage analysis, underwriting and management.
Award-winning, experienced management team of mortgage and lending professionals with deep knowledge of Canadian real estate.
Proven, in-house active management process for all mortgage assets, helping to reduce defaults and minimize operating costs, allowing us to pass along these savings to our investors in the form of higher yields.
How to invest
Shares in our CMI MIC Funds are offered via registered securities dealers and issued contingent upon the investor qualifying. Minimum investment of $5,000. Investments can be made in cash or registered funds via a qualified Trustee. CMI MIC Funds offer penalty-free redemptions after 12 months, with 30 days’ notice.8 Please review the Offering Memorandum for further details, available upon request.
