INVESTING

Romspen Mortgage
Investment Fund

  • Performance rooted in a disciplined approach, rigorous underwriting standards, and decades of experience
  • A track record of delivering cash distributions, with a focus on maintaining consistency and preserving capital even in challenging economic environments
  • 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
  • Redemption requests are currently higher than historical levels

RMIF is available to qualified investors and via Fundserv 

Romspen Mortgage
Investment Fund (CAD)
September 30, 2024
  • RMIF Portfolio Size$2.8 Billion
  • # of Mortgages in RMIF113
  • RMIF Return-1.1%
  • Net Asset Value Per Unit$9.37

Romspen returns 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
September 30, 2024

By Geography

  • Texas

  • California

  • Florida

  • Other U.S

  • Ontario

  • British Columbia

  • Alberta

  • Other CDN

By Amount

  • Under $20 million

  • $20-$40 million

  • $40-$60 million

  • $60-$80 million

  • Over $80 million

By Type

  • Leisure & Entertainment

  • Industrial

  • Office

  • Retail

  • Condominium

  • Residential

  • Mixed Use

  • Other

By Maturity

  • 1-2 years

  • Under 1 year

Performance Overview
December 31, 2023

Net Distribution %
Scroll
Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Return
2023 0.08 0.41 0.18 0.23 0.27 0.25 0.24 0.48 0.52 0.13 0.10 0.11 3.0%
2022 0.59 0.55 0.53 1.01 0.50 0.75 0.54 0.61 0.75 0.18 0.12 0.33 6.6%
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%

1Trailing 12-month return

Trailing 12-Month Comparative Performance
December 31, 2023

Annual Returns Comparison
(1998-2022)
  • Romspen Mortgage Investment Fund
  • FTSE® Canada STBI
  • S&P®/TSX®

Comparative Performance
Cumulative Returns to December 31, 2023
3-Year Performance
5-Year Performance
10-Year Performance
25-Year Performance

Results and other figures shown are either as at December 31, 2022 or June 30, 2023 (as indicated). Sources for data and analyses include Romspen Investment Corporation, the Fund, PricewaterhouseCoopers, Bank of Canada, FTSE Russell®, TSX®/S&P®.

Any returns or data shown which refer to a period of time that extends prior to January 16, 2006, reflect a combination of the results of an aggregated pool of individually syndicated mortgages then managed by Romspen Investment Corporation (based on an analysis provided by PricewaterhouseCoopers) with the results of the Fund (the successor to that aggregation of individually syndicated mortgages) for periods after January 15, 2006.

Performance data is unaudited and is taken from Fund’s audited and unaudited (for periods including Q2 2023) financial statements, which are available for review. The performance data assume the reinvestment of all Fund distributions. Values may not add up to the totals provided due to rounding.

Rates of return are historical annual compounded returns after deducting management fees and expenses payable, 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 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 a unitholder’s actual return for purchases prior to 2018.

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 Bond Index returns are based on 24 years of data due to data restrictions. 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.

An investment in units of the Fund is not guaranteed, the Fund’s value may change frequently and past performance may not be repeated.

Romspen results from January 1998 to January 16, 2006 reflect the aggregated pool of individually syndicated mortgages. Romspen return is calculated on a cash-on-cash basis, net of fees, and assumes a monthly reinvestment of distributions. It does not take into account income taxes, changes in unit values, third-party expenses or redemption charges. Results from January 16, 2006 to present reflect the Romspen Mortgage Investment Fund, the successor to the individually syndicated mortgages.

  • 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 month2
  • Redemption Monthly on the 15th with 30 days notice3 (Redemptions are currently being deferred)
  • 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

2First business day after the 15th, if the 15th occurs on a weekend or holiday.

3Subject to redemption provisions set out in RMIF’s offering memorandum.

Contact Us
Romspen Investment Corporation
Suite 300
162 Cumberland Street
Toronto, Ontario
M5R 3N5

General Inquiries
Phone: 416.966.1100
Toll Free: 1.800.494.0389
Email: info@romspen.com

Copyright © 2025 Romspen. All rights reserved.
Brokerage License #10172 | Administrator License #11600
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