|Fund Type||Open-Ended pooled mortgage fund|
|Inception||January 1, 2017|
|Eligibility||RRSP, RRIF, DPSP, RDSP, RESP, TFSA, IPP|
|Purchase||T + 2|
|Redemption||T + 20, subject to 1% retraction penalty if redeemed within 1st year.|
|Incentive Fee||10% of Net Operating Income|
|Target Return||7.5% per annum|
|Manager||Trez Capital Fund Management Limited Partnership|
|Manager AUM||CAD $3.5 Billion|
|Number of Loans||110|
|Weighted Average LTV||66.3%|
|Weighted Average Term-to-Maturity (Months)||17.7|
Texas - Other
United States - Other
1 Series F USD (DRIP)
2 Series F CAD (DRIP)
3 Series F (C$) (DRIP)
*As of December 31, 2018. Includes year end top up.
|2019 YTD||1 Year2||3 Year2||5 Year2||Since Inception2|
|Trez Capital Yield Trust US (CAD)
|Trez Capital Yield Trust US (CAD)
1 A Series units were introduced on April 1, 2013. Returns are reported as F Series.
2 Historical fund returns are reported as the calendar year ended December 31, 2018.
Trez Capital Yield Trust US (CAD) distributes 100% of its net income annually. Unitholders receive monthly distributions at a rate of 0.610% on Series F units and $0.53 on Series A units. An investor may be eligible for an additional annual top-up distribution, which is paid in mid-March following the conclusion of the annual audit of the Trust.
In 2019, Trez Capital moved from quarterly to monthly distributions.
|Year||Series||Jan||Feb||Mar||Apr||May||Jun||Jul||Aug||Sep||Oct||Nov||Dec||Top-up1||YTD Distribution||Annualized DRIP Return3|
1 Based on a weighted average return to Unitholders, this amount is an estimate of the average top up distribution paid. Those invested for less than a full one year period will receive a prorated allocation, and those invested in the dividend reinvestment plan will receive a slightly higher top up due to the effects of compounding. Top-up distributions are paid following the conclusion of the annual audit, to all registered unitholders on the record date December 31
2 Due to the fund being established in January of 2017 distributions prior to 2017 are reported as the returns on Trez Capital Yield Trust US CAD units.
3 This return is based on all distributions throughout the year being re-invested into the fund. This is a compounded return from the distribution re-investment program.
|Record Date||Expected Pay Date|
|January||January 31||February 7|
|February||February 28||March 8|
|March||March 31||April 9|
|April||April 30||May 9|
|May||May 31||June 7|
|June||June 30||July 9|
|July||July 31||August 9|
|August||August 31||September 9|
|September||September 30||October 8|
|October||October 31||November 8|
|November||November 30||December 9|
|December||December 31||January 8|
|Annual Top Up||December 31||March 17|
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.
|Management Fee||1.5% of the Average Annual Gross Assets relating to the F Series and A Series units.|
|Incentive Fee||10% of the Net Income for each unit series after deduction of the Management fee.|
|Province||Minimum investment when relying on accredited investor exemption1||Minimum investment when relying on offering memorandum exemption2||Minimum investment amount exemption3|
|British Columbia||$5,000||$ 5,000||$150,000|
|Newfoundland & Labrador||$5,000||$5,000||$150,000|
1 Accredited Investor Exemption: There is no regulatory minimum subscription amount for investors qualifying under the Accredited Investor Exemption. However, the minimum initial purchase amount established by the Manager is $5,000.
2 Offering Memorandum Exemption: There is no regulatory minimum subscription amount for investors qualifying under the Offering Memorandum Exemption. However, the minimum initial purchase amount established by the Manager is $5,000. (Only available for residents of British Columbia, Newfoundland & Labrador, Ontario, Alberta, Saskatchewan, Nova Scotia, and New Brunswick, subject to certain restrictions)
3 Minimum Amount Exemption (not available to individuals): The minimum initial subscription amount for investors qualifying under the Minimum Amount Exemption is $150,000 in each province listed above.
Units of the Trust may be purchased through your registered Investment Advisor. To purchase units in a non-registered account directly through Trez Capital, please contact Investor Services at:
Monday to Friday, 8:30am to 5:00pm PST
The Declaration of Trust for Trez Capital Yield Trust US (Canadian $) has been posted for informational purposes in connection with the special meeting of unitholders of Trez Capital Yield Trust US to be held on December 9, 2016, and remains subject to further change and finalization prior to the effective date of the reorganization of Trez Capital Yield Trust US, which is conditional upon, among other things, receipt of unitholder approval.