1Based on distributions on I Series units paid as of November 30, 2020. Assumes distributions are reinvested.
2Historical fund returns are reported as at December 31, 2019.
|Fund Type||Open-Ended pooled mortgage fund|
|FundServ Code||TRZ 380|
|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||8.35% per annum|
|Manager||Trez Capital Fund Management Limited Partnership|
|Manager AUM||Greater than $4.1 Billion (estimated as at September 30, 2020)|
|Number of Loans||118|
|Weighted Average LTV||69.9%|
|Weighted Average Term-to-Maturity (Months)||11.4|
**As of September 30, 2020.
|2019||1 Year||3 Year||5 Year||Since Inception|
|Trez Capital Yield Trust|
1 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.
3 The fund was established on Dec 8, 2016 and assets were transferred from Trez Capital Yield Trust US (“TCYT US”) pursuant to a unitholder-approved reorganization of TCYT US whereby the CAD denominated units of TCYT US were cancelled and an equal number of units of Trez Capital Yield Trust US (Canadian $) were issued to unitholders.
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.
2020, Trez Capital monthly distributions.
|Year||Series||Jan||Feb||Mar||Apr||May||Jun||Jul||Aug||Sep||Oct||Nov||Dec||Top-up1||YTD Distribution||YTD DRIP Return3|
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||Annual Distribution||Annualized DRIP Return4|
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.
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.
|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 3|
|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 $150,000 in each province listed above.
Institutional Investors form a core part of our investor base. As investors seek ways to diversify away from equities and traditional fixed income to both enhance income while mitigating risks, alternative investments such as private mortgage pools provide for an attractive solution.
To learn more about our private mortgage pools for institutional clients please contact:
Senior Vice President, Head of Investor Global Sales
Sep 2020 - Trez Capital Yield Trust US Fund Fact Sheet (I Series) CAD
septembre 2020 - Trez Capital Yield Trust US (CAD) fiche d’information sur le fonds - Série I
December 2019 - Fund Application form for Institutional, Pension Plan, or Investment Fund
December 2019 - Trez Capital Yield US Trust Audited Financial Statements ($C)
Apr 2020 - Trez Capital Yield Trust US ($CAD) Offering Memorandum
avril 2020 - TCYTUS(CAD) notice d'offre
December 2016 - Trez Capital Yield Trust US ($CAD) Declaration of Trust