100% invested in Single Family Residential Mortgages3 (minimum 80%) – MCAP believes that Single Family Residential Mortgages are the most conservative, the most liquid and largest segment of the Canadian mortgage market
Diversification: Over 800 Canadian mortgages, diversified by term and location
Liquidity: Underlying properties are expected to be highly saleable homes in major urban centres
The mortgage portfolio is well positioned for potentially increased income if mortgage rates rise
The Investment objectives of the Company are to acquire and maintain a diversified mortgage portfolio comprised primarily of Single Family Residential Mortgages that seeks to preserve capital and generate sufficient income to permit the Company to pay monthly distributions to Shareholders
One of Canada’s largest mortgage financing companies, MCAP Financial Corporation originates and services all mortgages for Eclipse. MCAP has more than 30 years of experience underwriting and servicing Canadian Single Family Residential Mortgages, with over $70 billion in mortgage assets managed for banks, lifecos, credit unions and institutional investors.
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The following table shows current and past performance of the Corporation. Past performance does not necessarily indicate how the Corporation will perform in the future. The information shown is based on Net Book Value per share (Net Asset Value per share prior to January, 2017) and assumes that dividends made by the Corporation on its shares in the period shown were reinvested at Net Book Value (Net Asset Value per share prior to January, 2017) in additional shares of the Corporation.
(1) Returns are for the periods ended December 31, 2018.
(2) Period from September 24, 2015 (commencement of operations) to December 31, 2018.
(3) Period from June 28, 2013 (commencement of operations) to December 31, 2018.
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 a security on the Toronto Stock Exchange or other alternative Canadian trading system (an “exchange”).
You can find more detailed information about the Corporation 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 dividends and does not take into account income taxes payable by any securityholder that would have reduced returns.
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The annual breakdown of distributions for tax purposes will be provided to Shareholders annually in February. This information will also be posted on the website as soon as it becomes available.
This information is of general nature and does not constitute legal or tax advice to any particular investor. Accordingly, prospective investors are advised to consult their own tax advisors with respect to their individual circumstances.
The following information is applicable to holders who, for the purpose of the Income Tax Act (Canada), are resident in Canada and hold shares as capital property outside of an RRSP, RRIF or DPSP. Shareholders should receive a T5 slip from their investment dealer providing this information.
T5 supplementary slips will indicate Capital Gains Dividends in Box 18 and interest from Canadian sources in Box 13.
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