from CareVest website - Dec 03


Blended Mortgage MIC (Pool of Mortgages)

There are certain advantages and strengths to investing in a MIC, some of which are.

  • Diversification: MIC funds are placed in several mortgages throughout B.C. and Alberta
  • Flexibility: Investment can be made in cash or by way of a self directed RRSP and/or RRIF.
  • Liquidity: No minimum hold period and funds can be redeemed within two months of notice pursuant to the terms and conditions detailed in the offering memorandum.
  • Investment The MIC will invest primarily in second mortgages with a loan to value ratio of 85%
    Policy: and in first mortgages with a loan to value ratio of 75%.
  • Dividends: Dividends are paid monthly with returns averaging 11.13% since inception.
  • Reporting: Personal monthly statements indicating your total investment and dividend paid. You will also receive a semi-annual report, plus annual audited financial statements of the MIC.

This investment is available through an OM, which should be read prior to investing.

Blended Mortgage MIC at December 31, 2003

Mortgage

Project Type

% of Portfolio

Interest Rate

Security Type

Location

Glenhaven

Multiple Family Dwellings

0.72%

11.00%

First

Cochrane, AB

Groat Estates II

Commercial

1.04%

12.50%

Second

Edmonton, AB

Innisfil Beach Gardens

Construct Care Facility

1.67%

14.00%

Second

Innisfil, ON

Pacific Palisades

Condominium Project

2.23%

10.00%

First

Calgary, AB

Atim Creek

Single Family Subdivision

0.51%

11.00%

First

Spruce Grove, AB

Fountain Creek

Residential Construction

0.32%

11.00%

First

Edmonton, AB

Ardrossan Lands

Single Family Subdivision

0.37%

11.00%

First

Ardrossan, AB

Aspen Meadows III

Residential  Lots

1.51%

12.00%

Second

Calgary, AB

Sunrise Park

Single Family Subdivision

0.16%

10.00%

First

Edmonton, AB

Cheddington III

Multiple Family 

1.74%

12.00%

First

Calgary, AB

Aspen Ridge

Single Family Subdivision

4.20%

13.00%

Second

Calgary, AB

Springbank III

Land

2.13%

10.00%

First

Calgary, AB

Parkdale Infil

Single Family Subdivision

0.66%

13.00%

Second

Calgary, AB

Paramount Homes

Single Family Construction

0.95%

10.50%

First

Edmonton, AB

Lynx Ridge

Single Family Subdivision

3.10%

10.00%

First

Calgary, AB

Brownstones II

Land Acquisition

2.23%

10.00%

First

Calgary, AB

Yang Lands

Single Family Subdivision

0.38%

10.00%

First

Calgary, AB

Winchester Homes

Single Family Subdivision

0.92%

10.50%

First

Fort McMurray, AB

Sunset Valley

Single Family Construction

8.92%

10.00%

First

Edmonton, AB

Tuscany Lands

Land Acquisition

1.62%

10.00%

First

Calgary, AB

Douglas Border

Commercial & Residential

0.22%

11.50%

First

Surrey, BC

Rose Garden

Multiple Family Construction

3.84%

15.00%

Second

Surrey, BC

Pinnacle Venture

Single Family Subdivision

0.33%

10.00%

First

Cowichan Lake, BC

Alpine Trail

Multi Family Development Site

0.43%

10.00%

First

Courtenay, BC

Cowichan Bay Inn

Commercial

0.45%

10.00%

First

Cowichan Bay, BC

Konsap

Single Family Subdivision

0.09%

10.00%

First

Sidney, BC

SJX Developments

Single Family Subdivision

2.97%

10.00%

First

Qualicum Beach, BC

Valley View Terrace

Condominium Project

3.39%

10.00%

First

Vermillion, AB

Green Acres

Resort Cabin Construction

1.63%

11.00%

First

Salt Spring Island, BC

Lodges at Kimberley

Multifamily Construction

7.83%

10.00%

First

Kimberley, BC

Marine Drive

Single Family Subdivision Construction

0.93%

10.50%

First

Ucluelet, BC

Redwoods

Single Family Construction

0.06%

14.00%

Second

Langley, BC

Westlake

Single & Multi Family Subdivision Construc

15.82%

10.00%

First

Red Deer, AB

Pemberton Valley

Condo Construction

2.41%

11.50%

Second

Pemberton, BC

Main Street

Single Family Construction

1.15%

16.00%

Second

Vancouver, BC

Golf & Country

Golf Course & Clubhouse

2.11%

10.50%

First

Victoria, BC

Bear Mountain Lands

Land

4.90%

10.00%

First

Victoria, BC

Riverbend Phase

Single Family Subdivision

2.96%

18.50%

Second

Coquitlam, BC

Williams Crown

Single Family Construction

1.27%

9.50%

First

Courtenay, BC

Harrison Beach Resort

Condominium Hotel

2.25%

15.00%

Second

Harrison Hot Springs, BC

Trust

 

9.59%

2.00%

 

 

Total

 

100.00%

 

 

 


CareVest Blended MIC Performance:

Total Portfolio $19,954,936
# of Investors 420		 3 month 11.64% (average annualized yield)
6 month 11.44% (average annualized yield)
Year to Date 11.40% (average annualized yield)
Since Inception 11.72% (average annualized yield) (2002)

*Effective yields shown are historical monthly compounded total yields including changes in yield and reinvestment of all distributions

 



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