View the entire January Update here.

Fast Facts

    * 245 investors (BC, AB, SK)
    * 39% investors receive 8% p.a. monthly dividend
    * 61% investors re-invest dividends
    * 70% investing with registered funds (RRSP, TFSA, LIRA, RIF etc.)
    * 30% investing with open non registered funds
    * Target LTV for overall fund – 65%
    * Current LTV for fund – 66.4%*
    * 1st mortgages – 39.8%
    * 2nd mortgages – 60.2%
    * 3rd mortgages – 0%
    * Secured by residential mortgages – 67.4%**
    * Secured by commercial mortgages – 32.6%**
    * BC mortgages – 41.8%**
    * Alberta mortgages – 43.6%**
    * Saskatchewan mortgages – 14.8%**
    * Average LTV on residential – 69%
    * Average LTV on commercial – 59.8%
    * Mortgages in foreclosure – 1
    * Foreclore as a percentage of assets under management - 1.6%

*Loan-to-Value (LTV) percentages are based on independent appraisals performed in a reasonable time period prior to funding.  Alta Pacific does not currently hold mortgages with greater  than 12 month terms.  Appraisals are less than one year old and therefore the fund manager remains confident in the LTV stated in this newsletter.
**Alta Pacific’s residential / commercial mortgage balance is targeted at 50% residential / 50% commercial .  Alta Pacific also targets an equal distribution of mortgages in BC and Alberta primarily.  The fund manager will advance mortgages secured by real estate in other provinces when terms are deemed favorable.  Due to the nature of mortgages maturing throughout the year, mortgage balances varies month to month.

Statements on investment performance from Alta Pacific MIC

We are often asked, “do I receive monthly statements for my investment in Alta Pacific?”  Today, unfortunately not, but we are working towards addressing this.  If you are an investor with shareholdings in other investment products such as mutual funds, you may be used to receiving regular statements on the value of your investment.  This is possible because mutual funds are publicly traded and in turn invest primarily in publicly traded securities; allowing the fund manager to calculate your account balance as often as they choose.  Your investment in Alta Pacific is somewhat different.  We invest shareholder funds directly in mortgages secured by Canadian real estate rather than in public securities.  We then manage mortgages in the same way that a bank does; collecting monthly mortgage payments as well as carrying out all other administrative duties.  As an investor, think about your investment with us like an investment in real estate.  Take your family home as an example; there are four ways we can determine its value:

  1. The Property Assessment Notice you receive annually.  This value is usually not “today’s value,” but it gives many a good indication based on basic home specifications.
  2. A professional independent appraisal (it is not very common to conduct an appraisal just to establish your home’s value)
  3. Watch for a neighbourhood home to sell or go online to  look at what they are listed for
  4. Finally, and maybe the only true way to know your home’s value, is to sell it and see what someone will pay

Knowing the value of your investment in Alta Pacific is perhaps most like the first example (Property Assessment Notice delivered annually); except it is not an assessment performed by City Hall.  Rather, it is an audit performed by external Chartered Accountants that look deep into our financial activities throughout the year.  This all occurs in the weeks following our year end on June 30.  The audit establishes exactly what the fund’s yield is; which results in each investor receiving the same return.  While we monitor our performance daily, it is only the annual audit that determines the exact return on investment for each shareholder.  Think of all this like selling your home once a year so you can realize its value and your return on investment – minus the packing and moving.

We invite you to speak directly with us – or your financial advisor – about your investment in Alta Pacific Mortgage Investment Corp.  If you have ready access to the web, we invite you to visit our website; or follow us on Facebook for regular updates from the company’s acting personnel.
Add Comment
 
 
Visit Alta Pacific's Canadian mortgage blog for yesterday's news and commentary on Monday's Bank of Canada speech by Agathe Côté and an interesting article in yesterday's Financial Post
Add Comment
 
 
News and blog post from Alta Pacific... Canadians saving for retirement ... read it all here.
Add Comment
 
 
A great resource for Canadian investors; giving you many things to think about, questions to ask, and qualities to look for. Visit the updated website and register for alerts - www.investright.org
Add Comment
 
 
Despite slow growth in the Canadian economy, the Bank of Canada (BoC) raised the overnight rate (the interest rate that major banks charge one another for daily loans) to 1.00% (from 0.75%).  
Add Comment
 
 
Visit Alta Pacific's blog for more details on this 2nd mortgage funded last week in Coquitlam BC
Add Comment
 
 
The latest news and information from Alta Pacific Mortgages & Investments - July / August Newsletter
Add Comment
 
TD talks rates 07/13/2010
 
Plus our review of the key points from this 6 minute interview.

Alta Pacific blog post on the interview can be found here.
Add Comment
 
 
Something must have happened during Canada Day... Arrived at the office today to find 8 new investors for Alta Pacific Mortgage Investment Corp.
Add Comment
 
 
The full video interview is here.
Add Comment