1Based on I Series units as of December 31, 2020. 2020 return is before the payment of the year-end top up, if any, distributed in March 2021. Assumes distributions are reinvested.
2Historical fund returns are reported as at December 31, 2019.
|Fund Type||Open-Ended pooled mortgage fund|
|FundServ Code||TRZ 120|
|Inception||June 1, 2009|
|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||6.85% per annum|
|Manager||Trez Capital Fund Management Limited Partnership|
|Manager AUM||Greater than $4.1 Billion (estimated as at December 31, 2020)|
|Number of Loans||164|
|Weighted Average LTV||69.9%|
|Weighted Average Term-to-Maturity (Months)||9.3|
¹ Unaudited and non-consolidated, as at December 31, 2020.
All reported returns are net of fees
* Due to the inception of the fund in June 2009, the return for 2009 is an annualized return.
** 2020 YTD return is before the payment of the year-end-top-up, if any, distributed in March 2021.
*** As of December 31, 2020.
|20202||1 Year||3 Year||5 Year||10 Year||Since Inception3|
|Trez Capital Yield Trust|
Trez Capital Yield Trust distributes 100% of its net income annually. Unitholders receive quarterly distributions at a rate of 1.5% on Series I units, payable fifteen days following each calendar quarter end. All residual income 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.
2021 Trez Capital Monthly Distributions¹
2020 Trez Capital Monthly Distributions¹
|YTD Distribution||YTD DRIP Return4|
¹ Distributions paid as of January 31, 2021. 2020 rate came into effect in April and therefore represents the pro-rate of 2020 rates.
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.
³ 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.
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.
⁵ In 2019 Trez Capital moved from quarterly to monthly distributions.
⁶ 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||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.|
To discuss minimum investment amounts and eligibility, please contact Trez Capital Fund Management L.P.
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:
Senior Vice President, Head of Investor Global Sales
December 2020 - Trez Capital Yield Trust Fund Fact Sheet (I Series)
décembre 2020 - Trez Capital Yield Trust Fiche d’information sur le fonds (Série I)
December 2019 - Institutional Investor Application Form
December 2019 - Trez Capital Yield Trust Audited Financial