OTTAWA, June 21, 2022 (GLOBE NEWSWIRE) -- Effective June 1, 2022, the managing board of Westboro Mortgage Investment Fund has increased the monthly distribution per eligible Class F unit from $0.06/Unit to $0.064/Unit. This increase provides for a non-compounded annualized return of 7.68% or if the investor opted to reinvest distributions (DRIP), a compounded annualized return of 7.96%. This is the fund’s second consecutive monthly increase to the investor distribution. The managing board of Westboro Mortgage Investment Fund had previously authorized an increase from $0.052/Unit in April 2022 (6.24% annualized non-compounded) to $0.06/Unit for May 2022 (7.2% annualized non-compounded). The impressive performance of the Westboro Mortgage Investment Fund is a direct result of the following: a) long-standing and strong broker-client relationships; b) client-centric team culture; c) best-in-class underwriting practices; and d) an increasing interest rate environment.
“We currently observe a healthy and robust alternative mortgage market. The increasing interest rate environment has resulted in an influx of highly qualified borrowers who do not meet the stringent and inflexible requirements imposed by traditional lenders due to governmental regulations. Our mortgage fund is open for new investor capital. We see this as an excellent opportunity for qualified investors to increase their portfolio yield by investing in our pool of predominantly 1st residential mortgages,” said Nick Christopoulos, CEO of Westboro Mortgage Investment Fund.
About Westboro Mortgage Investment Fund
The Westboro Mortgage Investment Fund was established in 2004 as a Mortgage Investment Corporation in the Ottawa area. Throughout the years, the fund has strategically expanded its lending region to include Central and Southwestern Ontario and the Gatineau regional area of Quebec. Today, the fund manages assets in excess of $325 million all while maintaining the primary objective of providing investors with a consistent and stable fixed-income solution for their investment portfolio.
To learn more about the Westboro Mortgage Investment Fund, including investment opportunities and qualification criteria please contact the Vice President of Fund Sales, Scott Roberts at sroberts@westboromic.com.
