AP Capital MIC
HISTORICAL PERFORMANCE
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Objectives
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Stable income. Since 2007, AP Capital MIC has paid investors a monthly distribution, currently set at 8% per annum*
AP Capital Mortgage Investment Corporation (MIC) started in 2007 and is a mortgage lender in Western Canada. The firm advances short term mortgages to owners of primarily single detached homes in urban markets of primarily BC and Alberta. Borrowers are home owners or home purchasers who require short term funds and often do not fit with conventional bank underwriting. Equity in each borrower's home is what protects the fund's capital as target loan to value is 70%, leaving 30% equity to protect AP in the event of borrower default. Approximately 1,700 mortgages have been advanced since inception.
- The majority of the mortgages are 1st position with at least 30% equity in the property
- Mortgages are kept to terms no longer than 12 months
- Preserve capital by acquiring and maintaining a diversified, conservative portfolio of mortgage loan investments that generate stable returns
- On a monthly basis, management provides investors with a business summary, supported by Fast Facts which provide key metrics
- Together with close friends and family, AP Capital management owns approximately 10% of investor class shares and units in AP Capital funds
- Distribution FrequencyMonthly
- CurrencyCAD
- Minimum Investment Amount$10000
- Annual Rate of Return Target Minimum* (Income + Equity Growth Combined)8%
- Annual Rate of Return Target* (Income Only)8%
- Annual Rate of Return Target* (Equity Growth Only)0%
- Hurdle rate for investors before management participates in profits6N/A%
- Split ratio paid to investors of additional profits (investors : Management)N/A
- Additional Profit PotentialNoYes
- Additional Profit Potential From Tax Efficient DistributionsNoYes
- Eligible for Registered Accounts (RRSP, LIRA, RIFF etc)NoYes
- Early Redemption OptionsYes. Refer to offering documents
- Accredited Investors OnlyNoYes
- Commission % paid to Dealer (*Paid by the Issuer, Not the investor)5.00%
- Trailer % paid to Dealer (*Paid by the Issuer, Not the investor)1.00%
- (AUM) Assets Under Management of Issuer$257 M
- Year issuer was founded2007
- Date investment originatedMarch 1, 2007
- Date of offering documentsApril 30, 2024
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