IMC Active Mortgage Fund
Managed by Institutional Mortgage Capital
Data as of: December 31, 2023 · 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.
2025 return
7.39%
LTV
57.9%
About IMC Active Mortgage Fund
The IMC Active Mortgage Fund is an open-ended private fund investing in a diversified portfolio of core and core-plus Canadian commercial mortgages. The strategy emphasizes conservative loan fundamentals, short terms, floating-rate exposure, income generation and capital preservation. The fund was launched as a closed-end vehicle in December 2016 and converted to an open-ended fund on January 1, 2021.
The portfolio is concentrated in Commercial mortgages.
At a glance
| 2025 return | 7.39% |
| Overall LTV | 57.9% |
| Property focus | Commercial (100%) |
| Structure | open-ended fund |
| Investor access | Available to individual investors |
IMC Active Mortgage Fund portfolio and performance
The portfolio is composed of commercial mortgages (100%).
| Property Type | Share (%) |
| Commercial | 100% |
IMC Active Mortgage Fund returns
| Calendar year | Net return |
| 2025 | 7.39% |
IMC Active Mortgage Fund facts
Fund structure
| Structure | open-ended fund |
| Manager | Institutional Mortgage Capital |
| Latest data | December 31, 2023 |
Mortgage portfolio
| Overall LTV | 57.9% |
| Property focus | Commercial |
Fees
| Management fee | None disclosed |
| Performance fee | None disclosed |
Additional fund details
Approximately 96% of the fund's mortgage portfolio has recourse to the borrower or guarantor.
Who can invest in IMC Active Mortgage Fund?
Available to individual investors
This fund is available to individual investors.
Minimum investment terms are not publicly disclosed.
About Institutional Mortgage Capital
Institutional Mortgage Capital is an independently owned Toronto-based commercial mortgage lender and real estate debt manager established in 2009. IMC manages core, core-plus and value-add Canadian commercial mortgage strategies for institutional and private-wealth investors. As of June 2025, Fitch reported more than $1.4 billion of firm-level AUM, including five investment funds with combined AUM of $529 million. Its affiliated servicer, IMS Limited Partnership, serviced $2.56 billion across 260 commercial mortgages and held a Fitch CPS2− commercial primary-servicer rating.
Compare other funds by Institutional Mortgage Capital
Institutional Mortgage Capital manages several mortgage investment entities (MIEs) with different loan and investment objectives. Compare its other funds below.
| Fund | Primary strategy | Approx. size | |
|---|---|---|---|
| Real Estate Debt Fund XIV (REDF XIV) | Commercial mortgages | $253M CAD | Learn More |
Frequently asked questions
It invests in commercial mortgages.
The fund reports a weighted-average LTV of 57.9%.
Yes. It is available to individual investors.
The fund is managed by Institutional Mortgage Capital.
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