Class a, f, i
U.S. First Mortgage Income Fund (Cayman)
U.S. First Mortgage Income Fund (Cayman) provides Canadian investors direct access to U.S. short term, first lien, residential mortgages.
Stable and consistent, US high yield distributions with low volatility. U.S. First Mortgage Income Fund (Cayman) seeks to generate high interest income with low volatility by sourcing and originating U.S. senior secured, first mortgage bridge loans collaterized by U.S. residentially anchored investment properties.
$10
Stable NAV
100%
Borrower fees are paid to investors
2%
Quarterly distribution target
Fund Type
Cayman Islands Exempted Company
Minimum Investment
$80,000
Management Fee
1.5%
Inventive Fee
15%, paid annually
Distribution Schedule
Quarterly
Lock Up Period
1 year
Currency
CAD or USD
Liquidity
Quarterly Redemptions (25% max per quarter)
Why U.S. First Mortgage Income Fund? Why a U.S. private credit manager?
Higher investor return potential
Earn more by avoiding extra layers of fees and accessing U.S. private credit directly.
Lower Investor Expenses by Avoiding Fee Duplication
Skip Canadian intermediaries and eliminate redundant fees.
Direct Access to the Larger U.S. Private Credit Marketplace
Invest directly in the larger U.S. private credit market without cross-border limitations.
Fund Comparison
Evaluate key features across funds to align with your investment strategy.
Metrics
$/Min. Investment
FundServ A/F/I-Class
RSP/TFSA Eligible
Fund Domiciled
FX Hedged to CAD
AUM$ Date
2024
2023
2022
2021
2020
Since Inception
U.S.Bridge Loan Fund Trust (USBLF)
CAD/USD
$5,000
Canada
$33 MM
Sept 30, 2024
7.48%
7.37%
7.28%
6.35%
-
6.82%*
Dec 2020
U.S. Diversified Direct Lending Fund
USD
$50,000
USA
$1.7 BB
Dec 31, 2024
10.49%
10.46%
10.51%
9.59%
8.36%
10.9%*
Jul 2020
U.S. Mortgage Fund Trust (USMFT)
CAD/USD
$5,000
Canada
-
Mar 31, 2025
-
-
-
-
-
-
U.S. First Mortgage Income Fund (Cayman)
CAD/USD
$80,000
Cayman
$28 MM
Dec 31, 2024
12.41%
12.07%
1.35%
Nov&Dec
-
-
12.23%*
Nov 2022
U.S. First Mortgage Income Fund (USA)
CAD/USD
$1 MM
USA
$476 MM
Dec 31, 2024
10.39%
9.82%
8.83%
8.26%
7.22%
9.47%*
Dec 2016
For accredited investors only
*Past performance is not necessarily indicative of future returns
*As at Dec 31, 2024
U.S. First Mortgage Income Fund (Cayman)
Operations Summary
USD
Canadian Qualified Investors
Institutions, Direct U.S. Investments
CAD
Canadian Qualified Investors
Institutions, Direct U.S. Investments
U.S. Custodian
U.S. First Mortgage Income Fund
Available Downloads
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U.S. First Mortgage Income Fund (Cayman)
Business of U.S. First Mortgage Income Fund (Cayman)
An open-ended first mortgage U.S. bridge loan fund established as a Cayman Islands exempted company.
The Business of U.S. First Mortgage Income Fund (Cayman)
USFMIF seeks to generate high interest income with low volatility by sourcing and underwriting senior secured first mortgage bridge loans collateralized by residentially anchored investment properties located in the United States. USFMIF offers the opportunity for Canadian investors to access U.S. residential real estate debt in a tax efficient manner. Loans are senior secured, first-lien, non-levered and backed by real assets.
The U.S. Securities And Exchange Commission, (SEC), prevents the U.S. based Manager of the, “U.S. First Mortgage Income Fund (Cayman)”, from publicly displaying the name or identity of the fund. Contact us for more information.
President & CCO
Michael Steepe
Request a personal consultation with Michael Steepe,
a trusted leader in private credit.
Or contact Steepe & Co. directly here.
