Fund Performance Prior to Transition
The following table shows the most current past performance of the Fund up to December 31, 2016 prior to the transition of the Fund from an investment fund to a non-investment fund. Following the transition, the fund does not calculate or report a net asset value. Past performance does not necessarily indicate how the Fund will perform in the future. The information shown is based on Net Asset Value per unit and assumes that distributions made by the Fund on its units in the period shown were reinvested at Net Asset Value per unit in additional units of the Fund.
The table shows the Fund’s compound return on Class A shares, compared with the FTSE TMX Canada Short-Term Bond Index (‘‘Bond Index’’). The Bond Index is a market capitalization-weighted index consisting of a broadly diversified range of investment-grade federal, provincial, municipal and corporate bonds with a term of maturity between one and five years. The Fund invests in mortgages with a focus on mortgages that have a term of less than three years. It is therefore not expected that the Fund’s performance will mirror that of the index. Further, the index is calculated without the impact of management fees and fund expenses, whereas the performance of the Fund is calculated after deducting such fees and expenses.
|Annual Compound Returns(1)||
Eclipse Residential MIC
|Year-by-Year Returns||Since Inception(3)||2016||2015||2014||2013(2)|
|Eclipse Residential MIC||7.8%||8.7%||9.4%||
(1) Returns are for the period ended December 31, 2016.
(2) Period from June 28, 2013 (commencement of operations) to December 31, 2013.
(3) Period from June 28, 2013 (commencement of operations) to December 31, 2016.
Returns for Eclipse Residential Mortgage Investment Corporation are unaudited.
You will usually pay brokerage fees to your dealer if you purchase or sell shares of the investment fund on the Toronto Stock Exchange or other alternative Canadian trading system (an “exchange”). If the shares are purchased or sold on an exchange, investors may pay more than the current net asset value when buying shares of the investment fund and may receive less than the current net asset value when selling them.
There are ongoing fees and expenses associated with owning shares of an investment fund. An investment fund must prepare disclosure documents that contain key information about the fund. You can find more detailed information about the fund in the public filings available at www.sedar.com. The indicated rates of return are the historical annual compounded total returns including changes in share value and reinvestment of all distributions and does not take into account certain fees such as redemption costs or income taxes payable by any securityholder that would have reduced returns. Investment funds are not guaranteed, their values change frequently and past performance may not be repeated.