TORONTO, Jan. 21, 2013 /CNW/ - Return On Innovation Advisors Ltd. ("ROI Capital") joined the TMX Group to open the Toronto Stock Exchange ("TSX") this morning in respect of the following three ROI closed-end investment funds which were listed on the TSX on December 7, 2012: ROI High Income Canadian Mortgage Fund (TSX: RIH.UN), ROI Canadian Mortgage Fund (TSX: RIL.UN), and ROI Canadian Real Estate Fund (TSX: RIR.UN).
David Sharpe, President of ROI Capital remarked, "This milestone for ROI Capital and its investors represents the hard work of our employees and the confidence placed in us by our business partners - we thank them all for their support and look forward to continuing to provide solutions to Canadian businesses seeking non-conventional financing and investors seeking tax advantaged real estate investments."
The investment objective of each fund is as follows:
ROI Canadian High Income Mortgage Fund (TSX: RIH.UN)
To provide unitholders with attractive risk adjusted, monthly, tax advantaged cash distributions, a high current yield, some long-term capital appreciation and preservation of capital by investing primarily directly or indirectly in, or by obtaining economic exposure through the forward agreement to, an actively managed diversified portfolio of commercial mortgages, loans secured by, or that provide a participating interest in, real property or ownership interests in real property. ROI Canadian High Income Mortgage Fund anticipates paying a targeted monthly distribution to unitholders of $0.05 per Class A unit based on an assumed net asset value of $10.00 per unit. This represents an implied cash flow yield of 6.00% annually.
ROI Canadian Mortgage Income Fund (TSX: RIL.UN)
To provide Unitholders with attractive risk adjusted, monthly, tax advantaged cash distributions, a nominal after-tax current yield, long-term capital appreciation and preservation of capital by investing primarily, directly or indirectly in, or by obtaining economic exposure through the forward agreement to, an actively managed diversified portfolio of commercial mortgages, loans secured by, or that provide a participating interest in, real property or ownership interests in real property. ROI Canadian Mortgage Income Fund anticipates paying a targeted monthly distribution to unitholders of $0.042 per Class A unit based on an assumed net asset value of $10.00 per unit. This represents an implied cash flow yield of 5.04% annually.
ROI Canadian Real Estate Fund (TSX: RIR.UN)
To provide Unitholders with attractive risk adjusted, monthly, tax advantaged cash distributions, a nominal current yield, some long-term capital appreciation and preservation of capital by investing primarily, directly or indirectly in, or by obtaining economic exposure through the forward agreement to, an actively managed diversified portfolio of commercial mortgages, loans secured by, or that provide a participating interest in, real property or ownership interests in real property. ROI Canadian Real Estate Fund anticipates paying a targeted monthly distribution to unitholders of $0.05 per Class A unit based on an assumed net asset value of $10.00 per unit. This represents an implied cash flow yield of 6.00% annually.
Founded in 2002, ROI Capital is a Canadian investment firm that specializes in commercial mortgages and income-producing properties primarily in large urban markets. ROI Capital investments are typically secured or backed by commercial or residential property. ROI Capital strives to diversify across economic sectors, geography, borrowers and maturity dates. As of December 31, 2012, ROI Capital managed about $1.4 billion across 10 funds. For more about ROI Capital visit the company's website: roicapital.ca
Certain statements included in this news release constitute forward-looking statements. The forward-looking statements are not historical facts but reflect current expectations regarding future results or events. These forward-looking statements are subject to a number of risks and uncertainties that could cause actual results or events to differ materially from current expectations and, accordingly, readers are cautioned not to place undue reliance on such statements due to the inherent uncertainty therein. Return On Innovation Advisors Ltd. undertakes no obligation to update publicly or otherwise revise any forward looking statement whether as a result of new information, future events or other such factors which affect this information, except as required by law. Commissions, trailing commissions, management fees and expenses all may be associated with investments in closed-end investment funds. Closed-end investment funds are not guaranteed, their values change frequently and past performance may not be repeated. Investment funds are not covered by the Canada Deposit Insurance Corporation or by any other government deposit insurer. There is no guarantee that an investment in the Funds will earn any positive return in the short or long term nor is there any guarantee that the Funds' investment objectives will be achieved or that the net asset value per unit will appreciate or be preserved.
SOURCE: ROI Capital
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