A medium-term investment fund composed of a diversified portfolio of commercial and multi-residential mortgages across Canada. TG Income Trust III provides a fixed quarterly return to investors while preserving invested capital by maintaining a steady net asset value. The trust holds investments in first position and second position mortgages, sub-tranches of mortgages, and blanket mortgages secured by multiple properties.

Fund Summary

Fund Manager Trez Capital Fund Management Limited Partnership
Asset Class Income trust fund
Inception Date July 14, 2016
Minimum Investment $2,000 (200 units)
Eligibility RRSP / RRIF / TFSA / RESP / RDSP / DPSP
Fund Assets (12/31/2018) $64,251,806

Portfolio Composition

Mortgage Loan Portfolio $62,197,661
Cash (and Equivalents) $1,632,877
Other Assets $421,268
Total Fund Assets $64,251,806
No. of Mortgage Investments 32
Average Mortgage Size $1,883,379
Average Loan-to-Value (LTV) 71.3%
Total Units Outstanding 5,794,320
Net Assets per Unit $10.00

Geographic Region

Texas
62.2%
United States - Other
23.3%
Alberta
10.2%
British Columbia
4.3%

Asset Class

Residential
98.6%
Industrial
1.4%

Security Rank

First Mortgages
99.4%
Second Mortgages
0.6%

Weighted Average Term to Maturity

1 Day to 90 Days
15.2%
91 Days - 120 Days
6.9%
121 Days - 240 Days
11.1%
241 Days - 365 Days
16.1%
Over 365 Days
50.7%

Historical Performance

  Q4 2018 2018 YTD 2017 2016
Series A1 1.8% 7.1% 7.1% 7.1%
Series C1 1.8% 7.2% 7.2% 7.2%
Series D2 1.9% 7.5% - -

1 The 2016 YTD returns for Series A and Series C are annualized as the initial closing date of each series occurred part way through 2016.
2
The 2018 YTD return for Series D are annualized as the initial closing date of the series occurred part way through 2018.

Distribution History

Year Series Q1 Q2 Q3 Q4
2018 A-1 0.175 0.177 0.175 0.179
  A-2 0.175 0.177 0.175 0.179
  C-1 0.178 0.180 0.181 0.181
  C-2 0.178 0.180 0.181 0.181
2017 A-1 $0.175  $0.177 $0.179  
  A-2 $0.175  $0.177 $0.179  
2016 C-1       $0.178
  C-2       $0.105
  C-3       $0.036

 

Distribution Schedule

  Record Date Expected Pay Date1
Q1 March 31 April 15
Q2 June 30 July 15
Q3 September 30 October 15
Q4 December 31 January 15

1This is an estimated date and subject to change. 

Note: Distributions are taxed in the year that they are earned. T3 slips are distributed to all unitholders in March of each year following completion of the year end audit and payment of the annual top-up distribution.

Fees

Management Fee Quarterly fee equal to the amount by which Net Revenue exceeds the Aggregate Fixed Return and Trust expenses for all Series

Minimum Investment

Province Minimum purchase per investor (units)1 Minimum purchase per investor ($)1
Series A 200 $2,000
Series B 200 $2,000
Series C 200 $2,000

1  There is no regulatory minimum subscription amount for investors; however, the minimum initial purchase amount established by the Manager is 200 units at $10 per unit ($2,000).

 

Quarterly Unitholder Reports


Financial Statements

  • Q4 2018 Financial Statements

    December 2018 - Trez Capital TGIT III - Q4 Financial Statements
    View/Download »
  • Q4 2018 MD&A

    December 2018 - Trez Capital TGIT III MD&A
    View/Download »

Investments