Cameron Stephens High Yield Mortgage Trust
Managed by Cameron Stephens Mortgage Capital Ltd.
Data as of: December 31, 2025
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.
AUM
$140M CAD
2025 return
7.46%
LTV
60%
Management fee
1%
About Cameron Stephens High Yield Mortgage Trust
Cameron Stephens High Yield Mortgage Trust is an open-ended mutual fund trust investing in a diversified portfolio of Canadian commercial real estate mortgages originated primarily by Cameron Stephens Mortgage Capital. The strategy includes residential and commercial land, development, construction, bridge and inventory loans. The fund seeks capital preservation and stable income through monthly distributions.
The fund reports approximately $140M CAD in assets.
The portfolio has a meaningful mix of first and subordinate mortgage positions.
The latest annual return declined from 10.04% in 2024 to 7.46% in 2025.
At a glance
| Assets under management (AUM) | $140M CAD |
| 2025 return | 7.46% |
| Overall LTV | 60% |
| First mortgages (as a % of the portfolio) | 53.4% |
| Structure | Mutual fund trust |
| Investor access | Available to individual investors |
Cameron Stephens High Yield Mortgage Trust portfolio and performance
Cameron Stephens High Yield Mortgage Trust returns
| Calendar year | Net return |
| 2023 | 9.16% |
| 2024 | 10.04% |
| 2025 | 7.46% |
Cameron Stephens High Yield Mortgage Trust facts
Fund structure
| Structure | Mutual fund trust |
| Manager | Cameron Stephens Mortgage Capital Ltd. |
| Latest data | December 31, 2025 |
Mortgage portfolio
| First mortgages | 53.4% |
| Overall LTV | 60% |
Fees
| Management fee | 1% |
| Performance fee | None disclosed |
Additional fund details
The manager reports approximately $140 million in assets under management, although no measurement date is provided. The current portfolio consists of 102 mortgages with a weighted-average loan-to-value ratio of 60%, a trailing 12-month yield of 6.96% and monthly distributions. First-priority exposure was 53.4% as of December 31, 2025. This measure reflects the fund’s economic priority within the capital structure and does not necessarily correspond to the mortgage’s legal registration rank. Reported returns were 9.16% in 2023 and 10.04% in 2024. For 2025, the manager reports a 7.46% total return assuming distribution reinvestment, while Fundata reports 7.90% using its calendar-return methodology. The management fee is 1.00%, and the FundServ code is BEL701. The fund is available to accredited investors and is eligible for registered plans.
Who can invest in Cameron Stephens High Yield Mortgage Trust?
Available to individual investors
This fund is available to individual investors.
Minimum investment terms are not publicly disclosed.
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 | |
|---|---|---|---|
| Bay Street High Yield Mortgage Fund (BSHY) | N/A | $350M CAD | Learn More |
| Western Canada High Yield Mortgage Fund (WCHY) | N/A | $70M CAD | Learn More |
Frequently asked questions
The fund reports a weighted-average LTV of 60%.
Yes. It is available to individual investors.
The fund is managed by Cameron Stephens Mortgage Capital Ltd..
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