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High Yield Opportunity Mortgage Fund

The CMI MIC High Yield Opportunity 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 a 10 – 11% 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, primarily second position residential mortgages with robust economic fundamentals. This Fund has an aggressive lending profile that selects higher-yield, second mortgages that do not exceed an average of 85% 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.

Portfolio Composition

The Fund is well-diversified with a more aggressive focus than the other CMI MICs.

  • Weighted Average LTV 76.49%
  • Average Number of Mortgages 169
  • Average Mortgage Size $239,502
  • Weighted Average Interest Rate 9.55%
  • Residential mortgages 99.41%

Key Facts

  • Fund Type Mortgage Investment Corporation
  • Inception October 2019
  • Redemptions Quarterly
  • Management Fee 1%
  • AUM at June 2022 $40.48 Million
  • Divident Re-investment Plan (Drip) Yes
  • Eligible for Registered Plans Yes
  • Fundserv Codes Class A: CCI 311
    Class F: CCI 312
  • Investor Risk Profile Aggressive

Fund Diversification as of Jun. 2022

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
  • Newfoundland and Labrador
  • Nova Scotia
  • Prince Edward Island

For more information on the CMI MIC Prime Mortgage Fund, please see our Fund Fact Sheet, Mortgage Summary and Monthly Reports.

Historical Performance

Growth of $10,000 Since Inception

The chart below illustrates the growth of an initial $10,000 investment in the CMI MIC High Yield Mortgage Fund through participation in a Dividend Reinvestment Plan (DRIP).

Get Started with CMI MIC Funds

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.

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 Canada.

Our track record includes:

10 years’ experience of managing real estate investments, six in the mortgage investment corporation funds market with a corporate AUM of $600 Million.

Over $1 billion dollars in mortgage originations since inception.

Our MIC managers have a loan loss rate of less than 1% 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. Please review the Offering Memorandum for further details, available upon request.

Contact Us

Contact us for more information on our MIC funds or to book an appointment with one of our
Investment Professionals.
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