Romspen Mortgage
Investment Fund

  • Performance built on a foundation of low risk tolerance, rigorous underwriting and many decades of experience
  • A long history of consistent cash distributions
  • The Fund’s investments are secured by commercial real estate including land, retail, industrial, office and multi-family properties
  • The Fund seeks compelling opportunities in both Canada
    and the U.S. that are often overlooked by traditional institutional lenders

RMIF is available to Accredited Investors and the Fundserv Dealer Network

Romspen Mortgage Investment Fund (CAD) June 30, 2022
  • RMIF Portfolio Size$2.8 Billion
  • # of Mortgages in RMIF134
  • RMIF Return 1(TTM)8.2%1
  • Net Asset Value Per Unit$9.75

1Trailing 12-month compounded net return. Romspen rates of return are historical compounded returns, after deducting management fees and expenses payable by the Fund, and include changes in unit value and assume the reinvestment of all distributions. They do not take into account any applicable sales, redemption, or distribution charges, or income taxes payable by any unitholder, that would have reduced returns. The calculation assumes a fixed historical monthly starting and ending date a the Unit value at such date, and that Unit values are capped at $10.00.

RMIF Portfolio Allocation – Q2 2022

By Geography
  • Texas
  • California
  • Florida
  • Other U.S
  • Ontario
  • British Columbia
  • Alberta
  • Other CDN
By Amount
  • Under $5 million
  • $5-10 million
  • $10-$20 million
  • Over $20 million
By Type
  • Construction
  • Term
  • Pre-development
By Maturity
  • 1-2 years
  • Under 1 year
  • 2-3 years

Performance Overview – June 30, 2022

Net Distribution %
Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Return
2022 0.59 0.55 0.53 1.01 0.50 0.75 8.2%1
2021 0.44 0.27 0.58 0.52 0.59 0.75 0.57 0.80 0.47 0.45 0.73 0.96 7.4%
2020 0.62 0.64 0.73 0.32 0.15 0.15 0.15 0.07 0.53 0.37 0.15 0.42 4.4%
2019 0.36 0.60 0.60 0.57 0.60 0.42 0.59 0.63 0.56 0.58 0.76 0.55 7.0%
2018 0.63 0.67 0.84 0.59 0.64 0.68 0.53 0.86 0.59 0.68 0.65 0.91 8.6%
2017 0.63 0.70 0.73 0.66 0.62 0.45 0.57 0.53 0.46 0.71 0.57 0.33 7.2%
2016 0.66 0.71 0.61 0.57 0.79 0.54 0.64 0.53 0.61 0.62 0.55 0.70 7.8%
2015 0.69 0.73 0.60 0.70 0.57 0.63 0.90 0.61 0.56 0.64 0.42 0.68 8.0%
2014 0.70 0.45 0.76 0.68 0.66 0.50 0.81 0.50 0.94 0.62 0.74 0.55 8.2%
2013 0.60 0.61 0.61 0.64 0.58 1.11 0.33 0.81 0.39 0.61 0.60 0.56 7.7%
2012 0.70 0.59 0.61 0.56 0.73 0.57 0.61 0.63 0.63 0.60 0.62 0.59 7.7%
2011 0.68 0.60 0.82 0.68 0.62 0.67 0.65 0.70 0.60 0.61 0.63 0.61 8.2%
2010 0.71 0.65 0.78 0.73 0.69 0.61 0.59 0.59 0.80 0.67 0.72 0.71 8.6%
2009 0.69 0.72 0.71 0.70 0.70 0.65 0.70 0.66 0.69 0.67 0.66 0.60 8.4%
2008 0.94 0.80 0.86 0.73 0.91 0.63 0.77 0.95 0.68 0.78 0.68 0.65 9.8%
2007 0.86 0.80 0.89 0.84 0.78 0.87 0.83 0.79 0.88 0.79 0.83 0.81 10.4%
2006 0.72 0.74 0.87 0.87 0.80 0.80 0.80 0.90 0.80 0.80 0.80 0.86 10.2%
2005 0.65 0.06 0.86 0.58 0.88 1.91 0.57 1.08 0.74 0.74 0.57 0.88 9.9%
2004 0.67 1.08 0.83 0.88 0.71 1.02 0.76 0.83 0.63 0.62 0.74 0.68 9.8%
2003 0.84 0.78 0.76 0.70 0.71 0.77 0.83 0.72 0.87 0.76 0.68 0.90 9.7%
2002 0.88 0.71 0.86 0.86 1.01 0.67 0.94 0.81 0.77 0.76 0.77 1.06 10.6%
2001 0.91 0.67 0.83 0.69 0.82 0.76 0.82 0.87 0.73 0.92 0.83 0.73 10.0%
2000 0.87 0.78 0.93 0.74 0.88 0.75 0.81 0.75 0.73 0.79 0.82 0.80 10.1%
1999 0.77 0.74 0.77 0.84 0.88 0.79 0.89 0.71 0.96 0.74 0.84 0.72 10.1%
1998 0.92 0.89 0.92 0.77 0.69 0.76 1.02 0.75 0.80 0.93 0.77 0.87 10.6%
1997 0.89 0.76 0.83 0.83 0.77 0.71 0.87 0.91 0.73 0.87 0.73 0.35 9.7%

1– Trailing 12-month compounded net return.

Trailing 12-Month Performance June 30, 2022

Annual Returns Comparison (1997-2021)
  • Romspen Mortgage Investment Fund
  • FTSE TMX Canada STBI
  • Common Stocks (S&P/TSX Total Return)

Comparative Performance – Cumulative Returns
3-Year Performance
5-Year Performance
10-Year Performance
25-Year Performance

Romspen rates of return are historical annual compounded returns, after deducting management fees and expenses payable by the Fund, and include changes in unit value and assume the reinvestment of all distributions. They do not take into account any applicable sales, redemption, or distribution charges, or income taxes payable by any unitholder, that would have reduced returns. The calculation assumes a fixed historical monthly starting and ending date at the Unit value at such date, and that Unit values are capped at $10.00. For that reason, they may not reflect an individual investor’s actual return for purchases prior to 2018. Romspen returns prior to January 16, 2006 reflect the aggregated pool of individually syndicated mortgages.

Romspen returns are net, comparative returns are gross.

1The Bond Index returns are based on 23 years of data due to data restrictions. The FTSE Canada Short-Term Overall Bond Index™ (“Bond Index”) is a market capitalized weighted index composed of a diversified range of semi-annual pay, fixed-rate investment grade Canadian government and corporate bonds, with terms to maturity of between 1 and 5 years. The S&P/TSX Composite Index™ (“S&P/TSX”) is a market capitalization weighted index of approximately 250 of the largest publicly -traded companies in Canada and is the broadest gauge of the performance of publicly-listed Canadian equities. These are unmanaged, broadly based indices and measurements that do not reflect any management fees and assume reinvestment of income. They should not be considered “benchmarks” for the Fund, as they do not track commercial mortgage investments, which is the Fund’s investment strategy. Whenever the Fund’s return for a given time period is compared to the performance of these indices over the same time period, the purpose is to compare the fund’s return against the performance of other major Canadian asset classes typically included in an investment portfolio.

Audited financial statements from RMIF are available upon request, performance from 1997 to 2006 is referenced from PWC analysis.

  • Fund Manager Romspen Investment Corporation
  • Structure Trust
  • FundSERV Symbol RIC100
  • Minimum Investment $50,000 (Dealer); $150,000 (Direct)
  • Purchases Monthly on the 1st business day of the month
  • Distributions Monthly on the 15th of the month 2
  • Redemption Monthly on the 15th with 30 days notice 3
  • Registered Plans Eligible
  • Eligibility “Accredited Investor” or other applicable prospectus exemption
  • Fees 1%
  • Early Redemption Charge 2% within the first year, none thereafter
  • Fund Administrator Romspen Investment Corporation/SS&C Technologies Inc.
  • Fund Auditor KPMG LLP
  • Legal Counsel Gardiner Roberts LLP

2 – First business day after the 15th, if the 15th occurs on a weekend or holiday.
3 – Subject to redemption provisions set out in RMIF’s offering memorandum.