|Fund Manager:||Trez Capital Fund Management Limited Partnership|
|Asset Class:||Open-ended pooled mortgage fund|
|Fund Inception Date:||January 2017|
|Strategy Inception Date:||January 2013|
|Minimum Investment:||CDN$5,000 (500 units)|
|Redemptions:||30 days' notice, subject to 1% retraction penalty if redeemed within 1st year|
|Eligibility:||RRSP / RRIF / TFSA / RESP / RDSP / DPSP|
|FundSERV Codes:||Series A CAD - TRZ360, Series F CAD - TRZ370|
|Fund Assets (09/30/2018):||$418,526,506|
|Cash (and Equivalents)||$49,034,209|
|Limited Partnership Investments||$12,620,106|
|Total Fund Assets||$418,526,506|
|Average Loan Size||$4,567,704|
|No. of Mortgage Loans||74|
|Weighted Average LTV||71.3%|
|Weighted Average Term-to-Maturity (Months)||20.8|
|Weighted Average Interest Rate||11.8%|
|Net Assets per Unit||$10.00|
United States - Other
Preferred Equity Loan
Zero to 6 Months
6 Months - 12 Months
12 Months - 18 Months
18 Months - 24 Months
Over 24 Months
|2018 YTD||1 Year||3 Year||5 Year||Since Inception|
|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 Due to the inception of the fund in January 2013, the return for 2013 is an annualized return.
Trez Capital Yield Trust US (CAD) distributes 100% of its net income annually. Unitholders receive quarterly distributions at a rate of 2.0% on Series F units and 1.75% on Series A 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||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 be re-invested into the fund. This is a compounded return from the distribution re-investment program.
|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||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 may be purchased directly from Trez Capital, or through a self-directed registered plan administered by one of the following:
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.