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Genesis Mortgage Investment Corporation

Genesis MIC invests in residential and commercial mortgage loans secured by real estate in major urban centres in B.C., Alberta and Ontario. Since inception in 2012, it has generated an attractive yield for accredited investors through historically reliable quarterly distributions.

100% of regular distributions can be earmarked to personal RSPs and TFSAs for tax-sheltered investing.

Experience

11+ Years

Proven Track Record

TTM Yield

8.75%

Per Annum

Value

$190.92 Million

Total Mortgage Portfolio

Ratio

64%

weighted average
loan-to-value

Fund Summary

Fund Type:
Mortgage Investment Corp.
Eligibility:
Accredited Investors
Registered Accounts:
RRSP, TFSA
Distribution Frequency:
Quarterly
Unit Value:
$1.00
Redemption:
12 Months After Issuance
Inception:
October 16, 2012

Mortgage Portfolio Highlights
— December 31, 2023

Total Mortgage Portfolio:
$190.92 Million
Number of Mortgage Investments:
116
Average LTV Ratio:
64%
Percentage of Portfolio which are First Mortgages:
65.21%
Percentage of Portfolio which are Second Mortgages:
33.55%

GMIC Performance

Since our company’s founding eleven years and three months ago, we have invested in 732 mortgages in total with a cumulative loan amount of $952.02 million, yielding a cumulative dividend distribution of $ 84,028,774.31 made up of 45 regular dividends and 4 special dividends. Our mortgage portfolio currently stands at $190.92 million, with assets under management of $207.07 million. Our mortgage portfolio has historically been focused on British Columbia but has also been diversified across Alberta, Ontario, and Quebec.

Despite significant economic challenges in recent years, including global economic uncertainties, rising energy and food prices, increased inflation rates, and the impact of ongoing central bank interest rate hikes, GMIC continues to provide investors with stable quarterly dividends according to the target return rate. In the fiscal year 2023, GMIC distributed a special dividend of 0.75% to investors. Now, GMIC is pleased to announce that it will pay dividends in the first quarter of the 2024 fiscal year at the target return rate, with a simple interest of 8.75% (compounded 9.04%).

As part of our long-term strategy, we launched Gentai residential mortgage fund (GREF) in June 2021 and Gentai commercial mortgage fund (GCOM) in January 2023. The successful launch of GREF and GCOM represents the completion of our strategy of offering a complete investment product line in the mortgage market in Canada. By offering both residential and commercial mortgage funds, we are now able to cater to the needs of a broader range of investors, providing them with different investment options that suit their specific goals and risk profiles.

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