Cannect Mortgage Investment Corporation
Managed by Cannect Capital Management Corporation
Data as of: May 1, 2024
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
$50M CAD
LTV
51.2%
Management fee
2%
First mortgages
59.8%
About Cannect Mortgage Investment Corporation
Cannect Mortgage Investment Corporation is a Toronto-based private MIC incorporated in 2010 and active since 2012, investing in a portfolio of residential first and second mortgages secured primarily by properties in Ontario. The fund is distinguished by its direct-to-consumer lending model, which bypasses broker intermediaries and targets an industry-low weighted average LTV of approximately 51%. The fund has reported an average net return of approximately 8% since inception. Units are RRSP, TFSA, RRIF, and RESP eligible.
The fund reports approximately $50M CAD in assets.
The portfolio has a meaningful mix of first and subordinate mortgage positions.
The portfolio is highly concentrated in Ontario.
At a glance
| Assets under management (AUM) | $50M CAD |
| Overall LTV | 51.2% |
| First mortgages (as a % of the portfolio) | 59.8% |
| Property focus | Residential (69%) / Construction (12%) / Commercial (19%) |
| Structure | Private Corporation (MIC) |
| Investor access | Available to individual investors |
Cannect Mortgage Investment Corporation portfolio and performance
The portfolio is composed of residential mortgages (69%), construction mortgages (12%) and commercial mortgages (19%).
| Property Type | Share (%) |
| Residential | 69% |
| Construction | 12% |
| Commercial | 19% |
Cannect Mortgage Investment Corporation has a focus on Ontario, with 99% of its mortgages located in Ontario.
| Province/Region | Share (%) |
| Ontario | 99% |
Cannect Mortgage Investment Corporation returns
| Calendar year | Net return |
| 2023 | 8.73% |
| 2024 | 8.86% |
Cannect Mortgage Investment Corporation facts
Fund structure
| Structure | Private Corporation (MIC) |
| Manager | Cannect Capital Management Corporation |
| Latest data | May 1, 2024 |
Mortgage portfolio
| First mortgages | 59.8% |
| Overall LTV | 51.2% |
| 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
Eligible investors can invest a maximum of $30,000, Non-eligible investors can invest a maximum of $10,000.
Who can invest in Cannect Mortgage Investment Corporation?
Available to individual investors
This fund is available to individual investors.
The minimum investment amount for accredited investors is $10,000.
About Cannect Capital Management Corporation
Cannect Capital Management Corporation is a Toronto-based Ontario corporation serving as the manager of Cannect Mortgage Investment Corporation since the fund's inception in 2012. It operates as part of the integrated Cannect platform, founded by Marcus Tzaferis, which combines direct-to-consumer mortgage lending with direct-to-investor capital raising to eliminate intermediary costs on both sides. Mortgage origination flows through affiliated brokers Cannect Inc. and MorCan Direct Inc. The platform has funded over $7 billion in residential mortgages since inception, focusing primarily on the Greater Toronto Area.
Frequently asked questions
It invests in residential mortgages.
The fund reports a weighted-average LTV of 51.2%.
Yes. It is available to individual investors.
The fund is managed by Cannect Capital Management Corporation.
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