CMI Mortgage Investment Corporation Fund Now Available on NEO Connect
NEO Connect Welcomes 50th Fund
CMI Mortgage Investment Corp., including Chief Operating Officer Bryan Jaskolka, joined Joacim Wiklander, Chief Business Officer, NEO, to celebrate the CMI Mortgage Investment Corporation fund becoming available on NEO Connect. This represents the fifth fund manufacturer to distribute products on NEO Connect and the 50th product to become available on the platform.
Toronto – January 7, 2019 – NEO Connect, is pleased to announce that the CMI Mortgage Investment Corp. (CMI MIC) fund is now available on its platform as a Series PTFTM security under the symbol CMIMC. CMI MIC is the fifth company to distribute products on NEO Connect and the CMI MIC fund is both the 50th fund and the first mortgage-based fund to become available on the platform. NEO Connect is now used by 15 dealer networks and has allowed fund manufacturers to raise close to $600 million in assets to date.
CMI MIC is an Ontario based corporation funding first and second mortgages in urban centers across Canada. The fund provides investors with access to a pool of well analyzed and diversified mortgages.
“CMI MIC focuses on markets that are underpinned by strong economic growth fundamentals, yet provided with little liquidity offered by banks. This creates a gap in the marketplace where CMI MIC can capture a market segment that is not filled by traditional bank lenders while providing its investors with a low-risk investment that provides the return traditional fixed-income products cannot,” said Bryan Jaskolka, Chief Operating Officer, CMI MIC. “We are excited to join the NEO Connect platform and embrace the PTF format so our clients and investors can access our investment product in the most efficient way possible.”
NEO Connect is Canada’s newest and most efficient distribution platform for all types of mutual funds: it allows for bulk trading, integrates seamlessly with investment advisors’ front and back-office systems, requires no minimum investments and distributes its market data to all main market data distribution platforms used by investment advisors. Using NEO Connect, investment advisors can purchase and redeem PTFs with the same ease and efficiency as they trade ETFs. They look up the symbol using their existing equity trading tools, choose the number of units they want and hit “buy”. The order executes at the end of the day at NAV, without any bid/ask spreads. The resulting position automatically integrates into their client accounts – it’s that simple.
“We are pleased to welcome CMI MIC to the NEO family and the first mortgage-based fund available on NEO Connect,” said Jos Schmitt, President and CEO, NEO. “Like CMI MIC, we are proud to offer flexibility, creativity, and excellent service as we work to meet and exceed our clients’ needs. We are looking forward to further growing our respective businesses as PTFs, available exclusively on NEO Connect, continue to gain momentum and popularity within the advisor community.”
About NEO Connect
NEO Connect is Canada’s new fund distribution platform launched in May 2016 within the Aequitas Innovations Inc. group of companies. NEO Connect is a complementary offering to the NEO Exchange, Canada’s next generation stock exchange that puts the needs of investors, businesses looking to raise capital and dealers first.
NEO Connect is available to all investment dealers at no cost and streamlines the fund purchase and redemption process, making it easier and more cost-effective for advisors to transact and asset managers to distribute their products. An initial test trade can be organized and executed within 24 hours. To arrange a test or learn more, contact the NEO investor helpline toll-free at 1-844-567-6424 or visit: https://www.aequitasneo.com/en/connect/neo-connect