Mortgage-Investment-Corporations-MICs-in-Canada-An-Overview
                     Mortgage Investment 
Corporations (MICs) in 
Canada: An Overview
Explore the world of Mortgage Investment Corporations (MICs) in 
Canada. Learn their structure, Ontario’s role, and the wider Canadian 
MIC landscape.
What is a Mortgage 
Investment Corporation 
(MIC)?
Pooled Mortgage Investments
Investors pool funds to create a diversified mortgage portfolio.
Tax-Regulated Entity
Governed under Canada’s Income Tax Act for trust integrity.
Income Distribution
Returns distributed as taxable income to shareholders.
Mortgage Focus
Primarily residential and commercial mortgage investments.
Benefits of Investing in 
MICs
Higher Potential Returns
Outperform traditional fixed income investments.
Diversification
Reduce risk by diversifying within mortgages.
Income Distributions
Receive monthly or quarterly payments.
RRSP Eligibility
Invest through registered and non-registered accounts.
Risks Associated with MIC Investments
Credit Risk Interest Rate Risk Liquidity Risk Management 
Risk
Possibility of borrower Rising rates can reduce Shares may be hard to sell 
mortgage defaults. mortgage values. quickly. Depends on operational 
decisions of MIC 
managers.
The Canadian MIC 
Market Landscape
Market Growth
Assets under management have grown significantly.
Ontario's Importance
Ontario leads MIC activity among provinces.
Regulatory Oversight
Provincial securities commissions monitor MICs.
Investor Interest
Rising demand for alternative mortgage investments.
Top MICs in Canada: An 
Overview
MIC Name AUM Dividend Focus
Yield
First $2B+ 6-8% Residential 
National & 
Commercial
Timbercreek $1.5B 7-9% Commercial 
Mortgages
Trez Capital $1B 6-7% Mixed 
Mortgage 
Portfolio
Case Study: First National MIC
Inception & AUM Mortgage Focus Performance Management 
Team
Established 2007 with Targets residential and Consistent dividend yields 
over $2 billion assets commercial borrowers around 6-8% annually. Experienced experts in 
under management. throughout Canada. mortgage lending and risk 
management.
Investing in MICs: Key 
Considerations
1 Due Diligence
Understand the MIC’s investment strategy thoroughly.
2 Assess Risk
Match MIC investments to your risk tolerance and timeline.
3 Seek Advice
Consult a financial advisor for personalized guidance.
4 Diversify
Spread investments across multiple MICs to reduce risk.