Company becomes the first MIC to be listed on Canada’s first fund distribution platform for purchasing and redeeming mutual funds
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CMI Mortgage Investment Corporation is establishing itself as the first ever MIC to be listed on NEO Connect, which is the first (and so far only) Canadian fund distribution platform intended to facilitate the purchase and redemption of mutual funds with the ease and efficiency of trading exchange traded funds.
“As of today, CMI MIC is available under the symbol CMIMC and fund name (CMI Mortgage Investment Corporation). This Platform Traded Fund (PTF) provides a way to invest in the real estate market, mitigating some of the time and risk of investing in individual mortgages,” the company announced.
CMI currently works with a diverse selection of public and private lenders, including banks, insurance companies, investment trusts, credit unions, private lending corporations, and many others.
Read more: MICs should be regulated by B-20: CIBC economist
“The market is showing an increase demand for secure investment options when it comes to investing in real estate. Investing in a MIC is far less vulnerable to fluctuating property values,” CMI COO Bryan Jaskolka said.
“Launching on NEO Connect makes CMI MIC more accessible to Canadians and offers an alternative PTF for investment advisers and their clients to pool their money and create an alternative fixed-income investment that yields significant value,” he added. “With targeted net annual returns at 8 to 9%, it makes sense to add the CMI MIC to investment portfolios as an alternative to stock market-based assets.”
