First National Mortgage Investment Fund
First National Mortgage Investment Fund provides unitholders with tax-advantaged monthly distributions by investing in Canadian mortgage loans originated by First National Financial LP. The Fund invests in a diversified portfolio of mortgages on multi-unit residential, industrial, and retail properties as well as land.
The Fund operated as a close-end fund listed on the TSX, from its inception in December 19, 2012 to December 22, 2017. The termination coincided with the expiry of the associated forward contract providing the tax-advantaged distributions, as a result of CRA no longer permitting such structures. Unitholders originally subscribed for units at $10.00 per unit and received monthly distributions of $.05 from March 15, 2013 to December 15, 2017, aggregating $2.90 and a terminating cash distribution of $9.33 per unit.
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