Trez Capital Prime Trust | Series A, F, I

Net Asset Value

$10.00

Distributions
Year to Date1

3.040%

Annualized2
Since Inception

6.9%

1Based on distributions on F Series units as of August 31, 2020. Assumes distributions are reinvested.

2Historical fund returns are reported as at December 31, 2019.

A conservative short-term commercial mortgage strategy. Trez Capital Prime Trust participates exclusively in first position mortgages, or sub-tranches of first position mortgages, which have a maximum loan-to-value ratio of 75% at the time of funding. Loans may be secured by real property located in Canada or the United States. The investment objective is to preserve capital, while generating a consistent rate of interest income for distribution to unitholders.

Fund Summary

Fund TypeOpen-Ended pooled mortgage fund
FundServ Code
F SeriesTRZ410
A SeriesTRZ400
InceptionJanuary 1, 2006
EligibilityRRSP, RRIF, DPSP, RDSP, RESP, TFSA, IPP
Unit Value$10
PurchaseT + 2
RedemptionCurrently monthly liquidity with limits. Please contact your Trez Capital representative for additional information
Management Fee1.50%
Incentive Fee10% of Net Operating Income
Distribution FrequencyMonthly
Target Return5% per annum

Manager Summary

ManagerTrez Capital Fund Management Limited Partnership
Manager AUMGreater than $3.8 Billion (estimated as at June 30, 2020)
Fund AUM$388,900,875

Portfolio Metrics

Number of Loans62
Weighted Average LTV53.1%
Weighted Average Term-to-Maturity (Months)11.0

GEOGRAPHIC REGION

 

ASSET CLASS

 

SECURITY RANK

 

HISTORICAL PERFORMANCE

 

*Due to the inception of the fund in January 2006, the return for 2006 is an annualized return.

**As of June 30, 2020.

GROWTH OF $10,000

 
20191 Year23 Year25 Year210 Year2Since Inception2
Trez Capital Prime Trust
Series F
5.2%5.2%5.1%5.2%5.7%6.9%
Trez Capital Prime Trust
Series A1
4.1%4.1%4.1%4.2%4.6%5.8%

1 A Series units were introduced on April 1, 2013. Returns are reported as F Series returns less 100 bps.

2Historical fund returns are reported as at December 31, 2019.

 

 

 

Trez Capital Prime Trust distributes 100% of its net income annually. Unitholders receive monthly distributions at a rate of 0.375% on Series F units and 0.292% 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.

Distribution History

2020, Trez Capital monthly distributions.

YearSeriesJanFebMarAprMayJunJulAugSepOctNovDecTop-up1YTD DistributionYTD DRIP Return3
2020A2$0.0292$0.0292$0.0292$0.0292$0.0292$0.0292$0.0292$0.0292$0.23332.357%
F$0.0375$0.0375$0.0375$0.0375$0.0375$0.0375$0.0375$0.0375$0.30003.040%

In 2019, Trez Capital moved from quarterly to monthly distributions.

YearSeriesJanFebMarAprMayJunJulAugSepOctNovDecTop-up1Annual DistributionAnnualized DRIP Return4
2019A2$0.029$0.029$0.029$0.029$0.029$0.029$0.029$0.029$0.029$0.029$0.029$0.029$0.058$0.4084.14%
F$0.0375$0.0375$0.0375$0.0375$0.0375$0.0375$0.0375$0.0375$0.0375$0.0375$0.0375$0.0375$0.058$0.5085.18%

 

YearSeriesQ1Q2Q3Q4Quarterly
Distribution
Top-up1Annual
Distribution
Annualized
DRIP Return3
2018A2$0.075$0.075$0.075$0.075$0.300$0.100$0.4004.05%
F$0.100$0.100$0.100$0.100$0.400$0.100$0.5005.08%
2017A2$0.075$0.075$0.075$0.075$0.300$0.102$0.4024.12%
F$0.100$0.100$0.100$0.100$0.400$0.102$0.5025.13%
2016A2$0.075$0.075$0.075$0.075$0.300$0.113$0.4134.18%
F$0.100$0.100$0.100$0.100$0.400$0.113$0.5135.21%
2015A2$0.075$0.075$0.075$0.075$0.300$0.130$0.4304.40%
F$0.100$0.100$0.100$0.100$0.400$0.130$0.5305.39%
2014A2$0.125$0.125$0.075$0.075$0.400$0.037$0.4374.40%
F$0.150$0.150$0.100$0.100$0.500$0.037$0.5375.47%
2013F$0.150$0.150$0.150$0.080$0.530$0.040$0.5705.66%
2012F$0.150$0.150$0.150$0.150$0.600$0.040$0.6406.41%
2011F$0.150$0.150$0.150$0.150$0.600$0.010$0.6106.12%
2010F$0.150$0.150$0.150$0.150$0.600$0.040$0.6406.43%
2009F$0.150$0.150$0.150$0.150$0.600$0.190$0.7907.96%
2008F$0.150$0.150$0.150$0.150$0.600$0.700$1.30013.30%
2007F$0.150$0.150$0.150$0.150$0.600$0.220$0.8208.48%
2006F$0.150$0.150$0.150$0.150$0.600$0.250$0.8508.54%

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 A Series units were introduced on April 1, 2013.

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.

4 This return is based on all distributions year-to-date being re-invested into the fund, without any year-end top-up distribution. This is a compounded return from the distribution re-investment program.

Distribution Schedule

 Record DateExpected Pay Date
JanuaryJanuary 31February 7
FebruaryFebruary 28March 8
MarchMarch 31April 9
AprilApril 30May 9
MayMay 31June 7
JuneJune 30July 9
JulyJuly 31August 9
AugustAugust 31September 9
SeptemberSeptember 30October 8
OctoberOctober 31November 8
NovemberNovember 30December 9
DecemberDecember 31January 8
Annual Top UpDecember 31March 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.

 

Fees

Management Fee1.5% of the Average Annual Gross Assets relating to the F Series and A Series units.
Incentive Fee10% of the Net Income for each unit series after deduction of the Management fee.

Minimum Investment

ProvinceMinimum investment
when relying on accredited investor exemption1
Minimum investment
when relying on offering memorandum exemption2
Minimum investment amount 3
Alberta$5,000$5,000$150,000
British Columbia$5,000$5,000$150,000
Manitoba$5,000N/A$150,000
New Brunswick$5,000$5,000$150,000
Newfoundland & Labrador$5,000$5,000$150,000
Nova Scotia$5,000$5,000$150,000
Ontario$5,000$5,000$150,000
Quebec$5,000N/A$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.

 

TREZ CAPITAL PRIME TRUST is sold BY offering memorandum and is available to:

  • Residents of British Columbia or Newfoundland & Labrador, who are provided with an offering memorandum and complete a risk acknowledgment form (45-106F4). Investment relies on the Offering Memorandum exemption.
  • Residents of Ontario, Alberta, Saskatchewan, New Brunswick, Nova Scotia or Quebec who are provided with an offering memorandum and complete a risk acknowledgement form (45-106F4) with Schedule I and Schedule II (Classification of Investors and Investment Limits). Investment relies on the Offering Memorandum exemption.
  • Residents of Manitoba or Prince Edward Island, who are provided with an offering memorandum and complete a risk acknowledgment form (45-106F4) and an eligible investor certification. Investment relies on the Offering Memorandum exemption.
  • Qualify as accredited investors and complete an accredited investor certification and a risk acknowledgement form (45-106F9 – for individual investors only). Investment relies on the Accredited Investor exemption. or;
  • By investing a minimum of $150,000 (for entities only). Investment relies on the Minimum Amount exemption.

How To Invest

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:

investor-services@trezcapital.com

T: 604-689-0821

TF: 1-877-689-0821

Monday to Friday, 8:30am to 5:00pm PST

 

Fund Fact Sheets

  • Fund Fact Sheet (A Series)

    Trez Capital Prime Trust – Fund Fact Sheet (A Series)

    June 2020 - Trez Capital Prime Trust Fund Fact Sheet (A Series)


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  • Fund Fact Sheet (F Series)

    Trez Capital Prime Trust – Fund Fact Sheet (F Series)

    June 2020 - Trez Capital Prime Trust Fund Fact Sheet (F Series)


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  • Fiche d’information sur le fonds (Série A)

    Trez Capital Prime Trust – Fiche d’information sur le fonds – Série A

    juin 2020 - Trez Capital Prime Trust Fiche d'Information - Série A


    View/Download »

  • Fiche d’information sur le fonds (Série F)

    Trez Capital Prime Trust – Fiche d’information sur le fonds – Série F

    juin 2020 - Trez Capital Prime Trust - Fiche d’information sur le fonds - Série F


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Subscription/Redemption Documents

  • Corporate Investor Application Form

    Trez Capital Prime Trust – Corporate Investor Application Form

    December 2019 - Fund Application form for Corporation, Partnership, or Trust


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  • Exempt Market Dealers - Subscription Form (Corporate)

    Trez Capital Prime Trust – Exempt Market Dealers – Subscription Form (Corporate)

    December 2019 - Exempt Market Dealers - Subscription Form (Corporate)
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  • Exempt Market Dealers - Subscription Form (Individual)

    Trez Capital Prime Trust – Exempt Market Dealers – Subscription Form (Individual)

    December 2019 - Exempt Market Dealers - Subscription Form (Individual)
    View/Download »

  • FundSERV Brokers - Subscription Form (Corporate)

    Trez Capital Prime Trust – FundSERV Brokers – Subscription Form (Corporate)

    December 2019 - FundSERV Brokers - Subscription Form (Corporate)
    View/Download »

  • Individual Investor Application Form

    Trez Capital Prime Trust – Individual Investor Application Form

    December 2019 - Individual Investor Application Form
    View/Download »

  • Redemption Request Form

    Trez Capital Prime Trust – Redemption Request Form

    June 2019 - TCPT US Redemption Request Form
    View/Download »

  • TCPT-FundServ-Corporatif

    Trez Capital Prime Trust – TCPT-FundServ-Corporatif

    décembre 2019 - TCPT-FundServ-Corporatif


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  • TCPT-FundServ-Individuel

    Trez Capital Prime Trust – TCPT-FundServ-Individuel

    décembre 2019 - TCPT-FundServ-Individuel


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  • FundSERV Brokers - Subscription Form (Individuals)

    Trez Capital Prime Trust – FundSERV Brokers – Subscription Form (Individuals)

    December 2019 - FundSERV Brokers - Subscription Form (Individuals)


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Financial Statements

  • Audited Financial Statements

    Trez Capital Prime Trust – Audited Financial Statements

    December 2019 - Trez Capital Prime Trust Audited Financial Statements


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Offering Documents

  • Offering Memorandum

    Trez Capital Prime Trust – Offering Memorandum

    April 2020 - Trez Capital Prime Trust Offering Memorandum


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  • TCPT-notice d'offre

    Trez Capital Prime Trust – TCPT-notice d’offre

    avril 2020 - TCPT-notice d'offre


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