VANCOUVER, British Columbia, July 10, 2024 (GLOBE NEWSWIRE) -- Leading private market asset management firm, Amur Capital Management Corporation, surpassed the $1-billion mark in consolidated assets under management (AUM) in 2023 as it continues to expand its business in the mortgage investment corporations (MICs) industry.
"Reaching the $1-billion AUM mark is a testament to the trust our investors have placed in Amur Capital and the hard work of our talented investment team," said Arif Mulji, Chief Executive Officer of Amur Financial Group.
Amur Capital's success has been driven by its disciplined investment approach, which focuses on sourcing high-quality mortgages from its own origination entities, Alpine Credits and Sequence Capital. The firm also takes a prudent approach to providing consistent returns balanced with capital preservation through its longstanding risk and portfolio management protocol that has been employed for over 40 years.
Key mortgage funds highlights
Amur Capital offers a trio of conservative, income, and high-yield funds to suit the needs of different investors. With these MICs, investors can gain exposure to Canada’s thriving real estate market without the demands of active property management.
- Assets under management: Total assets under management across the funds grew by more than 40% over the last 3 years, from $700 million in 2021 to over $1 billion in Q1 2024.
- Mortgage portfolio:
- 99% residential mortgages
- Weighted average LTV for flagship MIC (Fund 2) is 53%
- Reduced concentration risk with geographically diversified mortgages across British Columbia, Alberta, and Ontario
- Target vs net returns: All three funds experienced considerable growth from 2022 to 2023, surpassing their target returns.
- Fund 1 - 8.29% vs 7%
- Fund 2 - 11.08% vs 9.5%
- Fund 3 - 14.03% vs 13%
"We will continue to build on this momentum, leveraging our expertise and resources to deliver innovative solutions and outstanding results for our investors," added Mulji.
A mortgage investment corporation (MIC) is a unique investment vehicle that pools money from investors to fund mortgages secured by Canadian real estate. The MIC earns money through interest payments on those mortgages and then shares all those profits with its shareholders.
Learn more about them here: https://amurcapital.ca/
About Amur Capital
Amur Capital Management Corporation is a registered Exempt Market Dealer acting as the capital raising and investor relations arm of its related entity, Amur Financial Group. Amur Capital Income Fund, the firm’s flagship fund, has provided a simple way to get consistent and stable annual returns since its inception in 1984. Building on this success, Amur Capital has expanded its lineup to include Amur Capital Conservative Income Fund (2009) and Amur Capital High Yield Fund (2017), offering Canadian investors more ways to achieve their medium to long-term financial goals.
For further information, please contact:
Investor Relations
Phone: 1-866-888-4139
Email: invest@amurcapital.ca
