Amur Capital Income Fund
Managed by Amur Financial Group
Data as of: March 31, 2026 · View latest fund facts
This review is compiled by WOWA for informational purposes only and is not investment advice, an offer, or a solicitation. Figures are drawn from the manager's published materials as of the dates shown and may change. Returns are historical and do not guarantee future results. Verify all details with the manager or a licensed advisor before investing.
Currently closed to new investors
This fund is currently not available to new investors.
AUM
$1.1B CAD
2025 return
10.65%
LTV
55%
Management fee
2%
About Amur Capital Income Fund
Amur Capital Income Fund Inc. (ACIF) is a residential mortgage investment corporation established in 1984. The fund lends to borrowers outside conventional bank lending criteria, sourcing mortgages exclusively through affiliated originators Alpine Credits and Sequence Capital. ACIF reported AUM of approximately $1.09 billion as of Q1 2026 and a 2025 net return of 10.65%. Note: as of Q1 2026, the fund is closed to new subscriptions.
The fund reports approximately $1.1B CAD in assets.
The portfolio has a meaningful mix of first and subordinate mortgage positions.
The latest annual return declined from 11.71% in 2024 to 10.65% in 2025.
The portfolio is concentrated in Residential mortgages.
The portfolio is diversified across Ontario, BC and Alberta.
At a glance
| Assets under management (AUM) | $1.1B CAD |
| 2025 return | 10.65% |
| Overall LTV | 55% |
| First mortgages (as a % of the portfolio) | 44.5% |
| Property focus | Residential (98%) / Commercial (2%) |
| Structure | Private Corporation (MIC) |
| Investor access | Closed to new investors |
Amur Capital Income Fund portfolio and performance
The portfolio is composed of residential mortgages (98%) and commercial mortgages (2%).
| Property Type | Share (%) |
| Residential | 98% |
| Commercial | 2% |
Amur Capital Income Fund has a focus on Ontario, with 41.93% of its mortgages located in Ontario, followed by BC (41.91%), Alberta (16.04%), Quebec (0.12%).
| Province/Region | Share (%) |
| Ontario | 41.93% |
| Quebec | 0.12% |
| BC | 41.91% |
| Alberta | 16.04% |
Amur Capital Income Fund returns
| Calendar year | Net return |
| 2023 | 11.08% |
| 2024 | 11.71% |
| 2025 | 10.65% |
Return objective (2026)
Amur Capital Income Fund has a target return of 10% for 2026.
Amur Capital Income Fund facts
Fund structure
| Structure | Private Corporation (MIC) |
| Manager | Amur Financial Group |
| Series | Single class |
| Latest data | March 31, 2026 |
Mortgage portfolio
| First mortgages | 44.5% |
| Overall LTV | 55% |
| Property focus | Residential |
| Leverage | Yes, the fund uses leverage. This means the fund borrows additional money and combines it with investor capital to fund more mortgages. Leverage can increase returns when the portfolio performs well, but it also adds interest costs and can magnify losses. |
Fees
| Management fee | 2% |
| Performance fee | No |
Additional fund details
The Amur Capital Income Fund is currently closed to new subscriptions and is not accepting investments from new or existing investors.
About Amur Financial Group
Amur Capital Management Corporation is a Surrey, BC–based exempt market dealer — registered in British Columbia, Alberta, Manitoba, Saskatchewan and Nova Scotia — and the investor-facing arm of Amur Financial Group (AFG), a vertically integrated alternative mortgage lender operating since 1969. AFG manages three residential mortgage investment corporations: the Income Fund (established 1984), the Conservative Income Fund (2009) and the High Yield Fund (2017), with roughly $1.36 billion in combined assets as of Q1 2026. The funds lend to Canadian borrowers who fall outside the conventional banking system, sourcing deal flow exclusively from affiliated originators Alpine Credits and Sequence Capital, and use bank credit facilities to modestly leverage their portfolios. All three funds are currently closed to new subscriptions.
Compare other funds by Amur Financial Group
Amur Financial Group manages several mortgage investment entities (MIEs) with different loan and investment objectives. Compare its other funds below.
| Fund | Primary strategy | Approx. size | |
|---|---|---|---|
| Amur Capital Conservative Income Fund Inc. | Residential mortgages | $219M CAD | Learn More |
| Amur Capital High Yield Fund Inc. (“ACHYF”) | Residential mortgages | $45M CAD | Learn More |
Frequently asked questions
It invests in residential mortgages.
The fund reports a weighted-average LTV of 55%.
The fund is managed by Amur Financial Group.
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