Scotia Mortgage Income Fund
Managed by 1832 Asset Management L.P. (Scotia Global Asset Management)
Data as of: April 30, 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
$1.6B CAD
2025 return
2.8%
Management fee
1.46%
First mortgages
100%
About Scotia Mortgage Income Fund
The Scotia Mortgage Income Fund is an open-end mutual fund managed by 1832 Asset Management L.P. (Scotia Global Asset Management) and offered to the public by prospectus. Its objective is to provide regular interest income by investing primarily in high-quality mortgages on Canadian residential properties. Holdings are generally insured or guaranteed by Canadian federal or provincial governments or their agencies, or conventional first mortgages with loan-to-value ratios up to 80% unless the excess is insured. Classified as a short-term fixed-income fund, it is managed using interest-rate and yield-curve analysis.
The fund reports approximately $1.6B CAD in assets.
The portfolio is predominantly composed of first mortgages.
The latest annual return declined from 6.4% in 2024 to 2.8% in 2025.
The portfolio is concentrated in Residential mortgages.
At a glance
| Assets under management (AUM) | $1.6B CAD |
| 2025 return | 2.8% |
| First mortgages (as a % of the portfolio) | 100% |
| Property focus | Residential (100%) |
| Structure | Trust |
| Investor access | Available to individual investors |
Scotia Mortgage Income Fund portfolio and performance
The portfolio is composed of residential mortgages (100%).
| Property Type | Share (%) |
| Residential | 100% |
Scotia Mortgage Income Fund returns
| Calendar year | Net return |
| 2023 | 3% |
| 2024 | 6.4% |
| 2025 | 2.8% |
Scotia Mortgage Income Fund facts
Fund structure
| Structure | Trust |
| Manager | 1832 Asset Management L.P. (Scotia Global Asset Management) |
| Series | A |
| Latest data | April 30, 2026 |
Mortgage portfolio
| First mortgages | 100% |
| Property focus | Residential |
| Leverage | No, the fund does not use leverage. This means the fund uses only investor capital, rather than borrowed money, to fund its mortgage portfolio. This avoids borrowing costs and reduces the additional risks associated with leverage. |
Fees
| Management fee | 1.46% |
| Performance fee | No |
Additional fund details
The fund held 6,671 underlying mortgages, approximately 89.6% of which were conventional and uninsured. Credit risk is partly reduced by a Scotiabank repurchase agreement under which Bank of Nova Scotia/Scotia Mortgage Corporation may be required to repurchase certain mortgages at par, including mortgages that default, do not qualify as valid first mortgages or breach applicable loan-to-value limits. This arrangement is a contractual repurchase commitment and should not be confused with CMHC insurance. The fund’s remaining risk is primarily related to interest-rate movements and portfolio duration. It is therefore classified as having a low-to-medium risk rating. The fund is managed by 1832 Asset Management L.P., a Scotiabank-owned investment manager operating under the Scotia Global Asset Management brand.
Who can invest in Scotia Mortgage Income Fund?
Available to individual investors
This fund is available to individual investors.
The minimum investment amount for accredited investors is $500.
The minimum investment amount through an advisor or dealer is $500.
About 1832 Asset Management L.P. (Scotia Global Asset Management)
Scotia Global Asset Management is the asset-management business of The Bank of Nova Scotia (Scotiabank), operating in Canada through 1832 Asset Management L.P., a limited partnership whose general partner is wholly owned by Scotiabank. It manages mutual funds, ETFs, and discretionary portfolios under brands including ScotiaFunds and Dynamic Funds, serving retail, private-client, and institutional investors. One of Canada's largest asset managers, it offers strategies across fixed income, equities, and multi-asset mandates, distributed through Scotiabank branches, affiliated dealers, and third-party intermediaries. Its products are offered by prospectus to the general public.
Frequently asked questions
It invests in residential mortgages.
Yes. It is available to individual investors.
The fund is managed by 1832 Asset Management L.P. (Scotia Global Asset Management).
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