Bay Street High Yield Mortgage Fund (BSHY)
Managed by Cameron Stephens Mortgage Capital Ltd.
Data as of: June 30, 2026
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
$350M CAD
About Bay Street High Yield Mortgage Fund (BSHY)
Bay Street High Yield Mortgage Fund is Cameron Stephens’ flagship private mortgage vehicle, with a track record exceeding 20 years. The fund invests in higher-yield Canadian real estate mortgages, including both priority and subordinate positions within registered first mortgages. It is primarily held by real estate family offices and is currently closed to new investors.
The fund reports approximately $350M CAD in assets.
At a glance
| Assets under management (AUM) | $350M CAD |
| Structure | Partnership |
| Investor access | Closed to new investors |
Bay Street High Yield Mortgage Fund (BSHY) portfolio and performance
Bay Street High Yield Mortgage Fund (BSHY) facts
Fund structure
| Structure | Partnership |
| Manager | Cameron Stephens Mortgage Capital Ltd. |
| Latest data | June 30, 2026 |
Fees
| Management fee | None disclosed |
| Performance fee | None disclosed |
Additional fund details
The fund’s current official size is $350 million. It reports an 11.4% compound annual growth rate since inception, which should not be interpreted as a calendar-year return. Approximately 75% to 80% of the fund’s loans are shared with CSMT. The strategy may include both priority and subordinate interests within first-mortgage structures. The fund is currently closed to new investors.
About Cameron Stephens Mortgage Capital Ltd.
Founded in 2004, Cameron Stephens Mortgage Capital Ltd. is a Canadian commercial real estate lender and investment manager with just under $3.6 billion in assets under administration, including approximately $3.0 billion of institutional assets and $0.6 billion of private assets. Its mortgage investment platform includes Cameron Stephens Mortgage Trust, Bay Street High Yield Fund and Western Canada High Yield Fund. The broader Cameron Stephens platform also provides institutional mortgage financing and real estate equity investments through Cameron Stephens Equity Capital.
Compare other funds by Cameron Stephens Mortgage Capital Ltd.
Cameron Stephens Mortgage Capital Ltd. manages several mortgage investment entities (MIEs) with different loan and investment objectives. Compare its other funds below.
| Fund | Primary strategy | Approx. size | |
|---|---|---|---|
| Cameron Stephens High Yield Mortgage Trust | N/A | $140M CAD | Learn More |
| Western Canada High Yield Mortgage Fund (WCHY) | N/A | $70M CAD | Learn More |
Frequently asked questions
No. It is offered to institutional investors.
The fund is managed by Cameron Stephens Mortgage Capital Ltd..
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