For Immediate Release
April 22, 2024
Contact: info@readycapital.ca
April 22, 2024
Contact: info@readycapital.ca
Ready Capital Mortgage Investment Trust
AGM Celebrated 5 Years of Success
(Toronto, Canada)
Ready Capital Mortgage Investment Trust held its fifth Annual General Meeting on April 15th, 2024 at Cineplex Cinemas Markham, Ontario. Nearly 300 valued investors and guests graced the event with their presence. This significant event marked a celebration of the Trust’s 5 years of success story.
Ready Capital Mortgage Investment Trust’s long-standing partners, representatives from key entities including the Trust’s auditor Segal GCS LLP, the legal counsel AUM Law Firm, and its EMD distribution channel Belco Private Capital Inc, were all in attendance at this remarkable event. Notably, all initial partners have remained with the Trust since its inception on February 1st, 2019. This is a testament to Ready Capital's consistent leadership and long-term focus. The participation of reputable partners further solidifies the Trust’s commitment to excellence and reinforces the strong foundation that propels the Trust forward.
Markham Mayor Frank Scarpitti delivered a congratulation speech. He praised the hard working and professionalism of the Trust Founder and Trustee, Christine Xu, as a great inspiration for new immigrants. Richmond Hill Deputy Mayor Godwin Chan conveyed his compliments and good wishes to the Trust through a video greeting. Trustee Martin Reid, President of Belco Private capital Jonathon Botrie and corporate counsel Robert Kligerman, also made their remarks for the event. During the meeting, a brief overview of the Financial Statement of the Trust was presented to the audience by Ron Cuadra, the Trust COO and Trustee. The summary underlined key financial metrics and performance indicators for the past years, providing a snapshot of the Trust’s financial health and outstanding performance. Christine Xu, the Trust Founder and Trustee, delivered an inspiring and highlighting keynote speech, expressing gratitude to all partners and team members.
Ready Capital Mortgage Investment Trust continues to demonstrate its strength, with a fund asset under management of over $59 million and 540 investor accounts by December 31, 2023. 2023 was a difficult year for most businesses, with high interest rates, depressed real estate value, ongoing political turmoil, and global financial crisis. Under this circumstance, the Trust still successfully outperformed its target return as promised, achieved an impressive Trust Return of 8.10% in 2023, including an additional distribution per unit of 7 cents, proving its high resilience across a market downturn as well as its strong commitment to all investors. This achievement builds on the Trust's past consistent outperformance, with a Total Trust Return* of 8.23% in 2022, 8.37% in 2021, 8.48% in 2020, and 8.11% in 2019, which has included an extra distribution per unit* of 20.28 cents in 2022, 25.6 cents in 2021, 27 cents in 2020 and 25 cents in 2019.
Ready Capital Mortgage Investment Trust held its fifth Annual General Meeting on April 15th, 2024 at Cineplex Cinemas Markham, Ontario. Nearly 300 valued investors and guests graced the event with their presence. This significant event marked a celebration of the Trust’s 5 years of success story.
Ready Capital Mortgage Investment Trust’s long-standing partners, representatives from key entities including the Trust’s auditor Segal GCS LLP, the legal counsel AUM Law Firm, and its EMD distribution channel Belco Private Capital Inc, were all in attendance at this remarkable event. Notably, all initial partners have remained with the Trust since its inception on February 1st, 2019. This is a testament to Ready Capital's consistent leadership and long-term focus. The participation of reputable partners further solidifies the Trust’s commitment to excellence and reinforces the strong foundation that propels the Trust forward.
Markham Mayor Frank Scarpitti delivered a congratulation speech. He praised the hard working and professionalism of the Trust Founder and Trustee, Christine Xu, as a great inspiration for new immigrants. Richmond Hill Deputy Mayor Godwin Chan conveyed his compliments and good wishes to the Trust through a video greeting. Trustee Martin Reid, President of Belco Private capital Jonathon Botrie and corporate counsel Robert Kligerman, also made their remarks for the event. During the meeting, a brief overview of the Financial Statement of the Trust was presented to the audience by Ron Cuadra, the Trust COO and Trustee. The summary underlined key financial metrics and performance indicators for the past years, providing a snapshot of the Trust’s financial health and outstanding performance. Christine Xu, the Trust Founder and Trustee, delivered an inspiring and highlighting keynote speech, expressing gratitude to all partners and team members.
Ready Capital Mortgage Investment Trust continues to demonstrate its strength, with a fund asset under management of over $59 million and 540 investor accounts by December 31, 2023. 2023 was a difficult year for most businesses, with high interest rates, depressed real estate value, ongoing political turmoil, and global financial crisis. Under this circumstance, the Trust still successfully outperformed its target return as promised, achieved an impressive Trust Return of 8.10% in 2023, including an additional distribution per unit of 7 cents, proving its high resilience across a market downturn as well as its strong commitment to all investors. This achievement builds on the Trust's past consistent outperformance, with a Total Trust Return* of 8.23% in 2022, 8.37% in 2021, 8.48% in 2020, and 8.11% in 2019, which has included an extra distribution per unit* of 20.28 cents in 2022, 25.6 cents in 2021, 27 cents in 2020 and 25 cents in 2019.
Ready Capital Mortgage Investment Trust, a Mutual Fund Trust registered in Ontario, Canada, is a mortgage debt fund. The Trust’s sole investment option is private mortgages, currently all in Ontario. The Trust has consistently yielded an annual Trust Return of over 8% since its launch in February 2019, marking a successful streak of five consecutive years. As of Dec. 31, 2023, the total interest paid out to investors has reached $14,230,877 with an average LTV of portfolio at 62.97%. Investors are drawn to Ready Capital Mortgage Investment Trust because of its passive, stable, and flexible investment strategy with also excellent returns.
Ready Capital Mortgage Investment Trust is managed by a skilled and experienced team lead by its Founder and Trustee Christine Xu who has over 30 years of experience in the Canadian banking and investment field. Xu is a five-time recipient of the "Alternative Broker Specialist of the Year" from Canadian Mortgage Awards and has twice been named to the "Mortgage Global 100" list.
Investors can access Ready Capital Mortgage Investment Trust through TFSA/RRSP/LIRA/RRIF and regular savings account (individual/corporate accounts) with a minimum investment of $25K. The Trust is available through Exempt Market Dealer Belco Private Capital, and the Administrator is Falcon Ridge Management. The registered accounts are administrated by Olympia Trust Company. AUM Law Firm is the Securities Counsel and Segal GCSE LLP is Auditor.
In summary, Ready Capital Mortgage Investment Trust's 5th Annual General Meeting marked a significant milestone in the Trust's journey, showcasing its strong resilience, leadership, and impressive performance. Just as the Trust’s motto says, “Delivering Financial Stability”, its objective is to offer investors passive, stable, and flexible investment options with excellent returns, while prioritizing the preservation of investment capital.
Ready Capital Mortgage Investment Trust is managed by a skilled and experienced team lead by its Founder and Trustee Christine Xu who has over 30 years of experience in the Canadian banking and investment field. Xu is a five-time recipient of the "Alternative Broker Specialist of the Year" from Canadian Mortgage Awards and has twice been named to the "Mortgage Global 100" list.
Investors can access Ready Capital Mortgage Investment Trust through TFSA/RRSP/LIRA/RRIF and regular savings account (individual/corporate accounts) with a minimum investment of $25K. The Trust is available through Exempt Market Dealer Belco Private Capital, and the Administrator is Falcon Ridge Management. The registered accounts are administrated by Olympia Trust Company. AUM Law Firm is the Securities Counsel and Segal GCSE LLP is Auditor.
In summary, Ready Capital Mortgage Investment Trust's 5th Annual General Meeting marked a significant milestone in the Trust's journey, showcasing its strong resilience, leadership, and impressive performance. Just as the Trust’s motto says, “Delivering Financial Stability”, its objective is to offer investors passive, stable, and flexible investment options with excellent returns, while prioritizing the preservation of investment capital.
[*] Total Trust Return is expressed in ROI percentage terms, which calculates from the total income that was distributed to investors; [*] Extra distribution per unit is already included in Total Trust Return, only shown separately as the ROI is above its 8% target return.
Contact information:
Visit us at www.ReadyCapital.ca
Ready Capital Mortgage Investment Trust
4491 Hwy 7, Unionville, ON L3R 1M1
Office: 905-305-1539 Fax: 905-305-8982
Email: info@readycapital.ca
Visit us at www.ReadyCapital.ca
Ready Capital Mortgage Investment Trust
4491 Hwy 7, Unionville, ON L3R 1M1
Office: 905-305-1539 Fax: 905-305-8982
Email: info@readycapital.ca
*Disclaimer: Please note the information provided in this press release is for reference only. It does NOT constitute an offer, or solicitation by any person in any province or territory of Canada. Any offering is made only pursuant to the relevant offering memorandum together with the relevant subscription agreement, both of which should be read in their entirety. No offer to sell securities will be made prior to receipt of these documents by the offeree, and no offer to purchase securities will be accepted prior to completion of all appropriate documentation. Ready Capital Mortgage Investment Trust has engaged Belco Private Capital Inc (“Belco”) as its Exempt Market Dealer. Introductions are permitted exclusively through registered exempt market dealers. If you are interested in investing in Ready Capital MIT, please contact a registered dealing representative with Belco. PAST OR PRESENT PERFORMANCE HAS NO PREDICTIVE VALUE AND IS NOT AN INDICATOR OF FUTURE PERFORMANCE
