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MIC (MortEq) Results

Steady and Consistent Growth

PHL has generated steady, consistent returns since its inception in 2006.

a chart of annual mortgage investment returns from 2008 to 2020


Past results are not indicative of future results. Please read the offering memorandum before investing.


What is a MIC?

A Mortgage Investment Corporation (“MIC”) is an investment and lending company that allows investors to pool funds in a diversified and secured portfolio of residential and commercial mortgage loans. Shares of a MIC are qualified investments under the Canadian Income Tax Act (Section 130.1) for RRSP’s, RRIF’s, TFSA’s, LIRA’s, LIFF’s and RESP’s. The Income Tax Act requires that 100% of a MIC’s annual net income be distributed to its shareholders.

mortgage investment corporation diagram
mortgage investment corporate diagram tall version

MIC Advantages

MIC’s offer investors a number of attractive advantages, including:


  • Experienced management

  • Each mortgage secured by tangible Real Estate

  • Historically Stable Returns

  • Investors own a diversified portfolio of mortgages

  • Typically higher yields than traditional investment products

  • Ability to invest via self-directed RRSP’s, RRIF’s, TFSA’s, LIRA’s, LIFF’s and RESP’s

MortEq Lending Corp. was established in 2006 and funded over $1 billion in mortgages to date


PHL Financial annual growth chart from 2008 to 2020


The chart above illustrated the growth of a $100,000 investment since inception with compounding quarterly dividends only and no additional contributions.

Risk Mitigation

PHL Capital Corp. (MIC Administrator) has built a proven and established underwriting process upon the following fundamentals:


  • Strategic Lending Area

    We offer financing in Metro Vancouver, Fraser Valley, Kamloops, Kelowna, Victoria & Saanich, where the respective markets exhibit long-term stability, growth and liquidity.

  • Credit Committee

    All mortgages are reviewed by our four-member credit committee.

  • Loan-to-Value Ratio

    Our mortgages never exceed 75% of the appraised property value.

  • Approved Appraiser List

    Every application requires a current appraisal prepared by a qualified and internally approved Appraiser.

  • Mortgage Security

    All mortgage security prepared and reviewed by qualified legal counsel.

  • Stringent underwriting procedures and guidelines

    These lending guidelines continue to help PHL successfully navigate the risks associated with real estate investment.


Shareholders will be entitled to receive dividends on a quarterly basis. Dividends may be taken as cash or reinvested as additional shares. Dividends reinvested as additional shares will qualify for future dividends.

Dividends are paid out as follows:


Sept 1 – Nov 30

Dividend paid out by Dec 31st


Dec 1 – Feb 28

Dividend paid out by Mar 31st


Mar 1 – May 31

Dividend paid out by June 30th


June 1 – Aug 31

Dividend paid out within 90 days of fiscal year end


Have more questions about Investing?

View FAQ Section

How to Invest

Please Contact Ravi Munday, Investment Manager, if you are considering investing with PHL Financial Group Ltd.

Phone: 604-579-0844 | Email: [email protected]

Prospective investors may invest in our quarterly share offerings held on:

Personal Investment Form
Corporate Investment Form