There are plenty of reasons to invest in a mortgage investment corporation (MIC) such as ASCEND MIC. It’s relatively simple, we take care of much of the administration and hassle of investing in mortgages, while you sit back and enjoy the relatively safe but high yields traditionally associated with MICs.
However, MICs constitute a very specific sector within the mortgages industry. To qualify as a MIC, companies such as ASCEND MIC need to meet various qualifications, including corporate structure, investor protections, and financial reporting.
One of these qualifications pertains to the type of investor that can choose an MIC as an investment option. In general, to qualify, one must first meet the requirements of what’s called an accredited investor.
What does it mean?
In general, the term accredited investor tends to apply to a class of investors, usually high-net worth individuals or organizations, for which exemptions often apply concerning certain types of investments, such as securities.
In Canada, an accredited investor has an even more specific definition with specific defining criteria. What complicates matters even further is that the term accredited investor is whittled down even further within provincial jurisdictions. So, what constitutes an accredited investor in one province might not exactly apply in another province.
But, don’t worry, at ASCEND MIC, one of our objectives is to make the complicated simple for you. And, as always, if you have any questions, you can talk to us directly. We’re more than happy to help in any way we can.
In a nutshell, you qualify as an accredited investor if you meet at least one of the following criteria:
- Alone, or together with a spouse, you own net financial assets of more than $1 million.
- As an individual, or with a spouse, you have net assets/net worth (including real estate) of at least $5 million.
- As an individual, your net income before taxes has exceeded $200,000 for both of the last two years, and is expected to do the same this year. Combined with a spouse, the amount is $300,000.
You can learn more about these accredited investor criteria at the Ontario Securities Commission. Other criteria might be applicable in other provinces or jurisdictions, so, again, feel free to talk to us directly to find out how you qualify.
Safe investing and high yields for those that qualify
In general, a MIC such as ASCEND MIC is an investment option for qualified/accredited investors and offers traditionally safe but high-yielding returns that take advantage of Canada’s historically and currently booming mortgages sector. In the short and the long run, an MIC is a terrific investment alternative for investors like you that qualify.
Talk to us today to find out more about what ASCEND MIC has to offer to forward-looking investors just like you. We look forward to hearing from you.