KV Mortgage Fund
Managed by KV Capital Inc.
Data as of: June 1, 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.
AUM
$461M CAD
2025 return
8.67%
LTV
62.5%
Management fee
1%
About KV Mortgage Fund
KV Mortgage Fund is an open-ended Alberta mortgage investment corporation investing in a diversified portfolio of short-term commercial mortgages, primarily first-position loans in major Western Canadian municipalities. KV Capital originates, underwrites and administers the mortgages in-house, and the fund distributes income monthly.
The fund reports approximately $461M CAD in assets.
Most of the portfolio is in first mortgages, with some subordinate exposure.
The portfolio is diversified across Alberta and BC.
At a glance
| Assets under management (AUM) | $461M CAD |
| 2025 return | 8.67% |
| Overall LTV | 62.5% |
| First mortgages (as a % of the portfolio) | 82% |
| Property focus | Construction (34%) / Commercial (56%) / Multi-Residential (10%) |
| Structure | Open-Ended Corporation (MIC) |
| Investor access | Available to individual investors |
KV Mortgage Fund portfolio and performance
The portfolio is composed of construction mortgages (34%), commercial mortgages (56%) and multi-residential mortgages (10%).
| Property Type | Share (%) |
| Construction | 34% |
| Commercial | 56% |
| Multi-Residential | 10% |
KV Mortgage Fund has a focus on Alberta, with 65% of its mortgages located in Alberta, followed by BC (33%), Ontario (2%).
| Province/Region | Share (%) |
| Ontario | 2% |
| BC | 33% |
| Alberta | 65% |
KV Mortgage Fund returns
| Calendar year | Net return |
| 2023 | 8.22% |
| 2024 | 8.84% |
| 2025 | 8.67% |
Return objective (2026)
KV Mortgage Fund's target for 2026: Two-year Government of Canada benchmark bond yield plus 4.5 percentage points.
KV Mortgage Fund facts
Fund structure
| Structure | Open-Ended Corporation (MIC) |
| Manager | KV Capital Inc. |
| Series | Class A and Class B preferred shares |
| Latest data | June 1, 2026 |
Mortgage portfolio
| First mortgages | 82% |
| Overall LTV | 62.5% |
| Property focus | Commercial |
| 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 | 1% |
| Performance fee | 20% of any distributions that exceed the 2 year Government of Canada benchmark bond yield (V122538) plus 4.5% |
Who can invest in KV Mortgage Fund?
Available to individual investors
This fund is available to individual investors.
The minimum investment amount for accredited investors is $10,000.
The minimum investment amount through an advisor or dealer is $10,000.
About KV Capital Inc.
KV Capital Inc. is an Edmonton-based alternative investment manager founded in 2006, operating across real estate debt, real estate equity, and private equity. The firm manages KV Mortgage Fund alongside real estate equity and private equity vehicles. Licensed as a mortgage brokerage in Alberta, Ontario, and BC, KV Capital opened a Toronto office in November 2025 to expand its national presence.
Frequently asked questions
It invests in commercial mortgages.
The fund reports a weighted-average LTV of 62.5%.
Yes. It is available to individual investors.
The fund is managed by KV Capital Inc..
Disclaimer:
- Any analysis or commentary reflects the opinions of WOWA.ca analysts and should not be considered financial advice. Please consult a licensed professional before making any decisions.
- The calculators and content on this page are for general information only. WOWA® does not guarantee the accuracy and is not responsible for any consequences of using the calculator.
- Financial institutions and brokerages may compensate us for connecting customers to them through payments for advertisements, clicks, and leads.
- Interest rates are sourced from financial institutions' websites or provided to us directly. Real estate data is sourced from the Canadian Real Estate Association (CREA) and regional boards' websites and documents.