The Institutional Investor Section of the website is intended for the sole use of institutional investors. Any person who is not an institutional investor should not act or rely on this information.
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| Fund Type | Open-Ended pooled mortgage fund |
|---|---|
| Inception | January 1, 2013 |
| Eligibility | RRSP, RRIF, DPSP, RDSP, RESP, TFSA, IPP |
| Unit Value | $10 |
| Purchase | T + 2 |
| Redemption | T + 20, subject to 1% retraction penalty if redeemed within 1st year. |
| Management Fee | 1.15% |
| Incentive Fee | 10% of Net Operating Income |
| Distribution Frequency | Monthly |
| Target Return | 8.85% per annum |
| Manager | Trez Capital Fund Management Limited Partnership |
|---|---|
| Manager AUM | CAD 3.0 Billion |
| Fund AUM | $124,828,737 USD |
| Number of Loans | 62 |
|---|---|
| Weighted Average LTV | 71.1% |
| Weighted Average Term-to-Maturity (Months) | 19.9 |
| Weighted Average Interest Rate | 11.7% |
|
Dallas/Ft.Worth |
48.9% |
|---|---|
|
Houston |
22.8% |
|
Florida |
16.9% |
|
United States - Other |
6.4% |
|
San Antonio |
4.6% |
|
Austin |
0.2% |
|
Denver |
0.2% |
|
Residential |
96% |
|---|---|
|
Retail |
1.3% |
|
Office |
2.7% |
|
First Mortgages |
85.1% |
|---|---|
|
Second Mortgages |
12.2% |
|
Third Mortgages |
0.4% |
|
Preferred Equity Loan |
2.3% |
| 2018 YTD | 1 Year | 3 Year | 5 Year | Since Inception | |
|---|---|---|---|---|---|
| Trez Capital Yield Trust US Series I1 |
8.24% | 8.6% | 9.4% | 10.0% | 10.0% |
1 I Series returns are reported as F Series returns, plus 35bps to account for the reduction in management fee. To discuss eligibility, please contact Trez Capital Fund Management Limited Partnership.
2 Due to the inception of the fund in January 2013, the return for 2013 is an annualized return.
Trez Capital Yield Trust US distributes 100% of its net income annually. Unitholders receive quarterly distributions at a rate of 2.0% on Series I units, payable fifteen days following each calendar quarter end. Distributions are paid in the currency of the units denomination. All residual income attribuable to each unit series is distributed by way of an annual top-up distribution, which is paid in mid-March following the conclusion of the annual audit of the Trust.
| Year | Series | Q1 | Q2 | Q3 | Q4 | Total Quarterly Distribution | Top-up1 | Annual Distribution |
|---|---|---|---|---|---|---|---|---|
| 2018 | I2 | $0.200 | $0.200 | $0.200 | $0.200 | $0.800 | - | 8.24% (DRIP) |
| 2017 | I2 | $0.200 | $0.200 | $0.200 | $0.200 | $0.800 | $0.035 | $0.835 |
| 2016 | I2 | $0.200 | $0.200 | $0.200 | $0.200 | $0.800 | $0.133 | $0.933 |
| 2015 | I2 | $0.200 | $0.200 | $0.200 | $0.200 | $0.800 | $0.709 | $1.509 |
| 2014 | I2 | $0.200 | $0.200 | $0.200 | $0.200 | $0.800 | $0.303 | $1.103 |
| 2013 | I2 | $0.200 | $0.200 | $0.200 | $0.200 | $0.800 | $0.235 | $1.035 |
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.
2 I Series returns are reported as F Series returns, plus 35bps to account for the reduction in management fee. To discuss eligibility, please contact Trez Capital Fund Management Limited Partnership.
| Record Date | Expected Pay Date | |
|---|---|---|
| First Quarter | March 31 | April 15 |
| Second Quarter | June 30 | July 15 |
| Third Quarter | September 30 | October 15 |
| Fourth Quarter | December 31 | January 15 |
| Annual Top Up | December 31 | March 15 |
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 | Percentage negotiated by the Manager and the Unitholder of the Average Annual Gross Assets of the I Series units. |
|---|---|
| Incentive Fee | 10% of the Net Income for each unit series after deduction of the Management fee. |
Institutional Investors form a core part of our investor base. As investors seek ways to diversify away from equities and traditional fixed income to both enhance income while mitigating risks, alternative investments such as private mortgage pools provide for an attractive solution.
To learn more about our private mortgage pools for institutional clients please contact:
Daniel Marchand
Senior Vice President, Head of Investor Global Sales
P: 647.778.1780
E: DanielM@trezcapital.com
