Active Mortgage Fund
Attractive, reliable income returns
The Active Mortgage Fund is an open-ended fund that invests in a well-diversified portfolio of high-quality core and core plus Canadian commercial mortgages with conservative loan fundamentals
Active Mortgage Fund (AMF)
The objective of the Active Mortgage Fund is to deliver a consistent and attractive long-term income stream to investors, with a focus on downside protection and capital preservation. The fund was originally launched as a closed-end fund in December of 2016 and was converted to an open-ended fund, effective January 1st, 2021.
Key Portfolio Characteristics
(As of June 30, 2022)
6.5%
Yield to Maturity
61.2%
Loan to value
74.3%
First Mortgages
87.7%
Floating Rate Mortgages
0.2
Duration
24.8%
Average Annual Turnover
1.3x
Debt Service Coverage Ratio
92%
Recourse
Performance History
(Annualized Returns as of June 30, 2022)
5.4%
1-Year
5.9%
3-Year
6.2%
5-Year
6.1%
Since Inception
The Benefits of the AMF
Experienced Team
We’ve been managing commercial mortgage portfolios for over 25 years.
Relationship-driven sourcing
80% of our mortgages are done with repeat borrowers.
Origination fees
Origination fees are directed to the fund to enhance returns.
No loan losses
No loan losses since the inception of the AMF.
Conservative positioning
The average loan-to-value is 61% and 92% of the loans have recourse.
Focus on generating income
Over 99% of the fund’s return is driven by income.
Low interest rate risk
Our focus on variable rate mortgages minimizes interest rate exposure and reduces volatility.
Disciplined and proven underwriting
We’re focused on credit quality and capital preservation.
Stable and attractive long- term returns
The fund has generated a since inception annualized return of 6.1%.