FAQ

What does Pacifica invest into?

Pacifica invests into first and second mortgages, primarily in the Lower Mainland of Vancouver, B.C. The maximum loan to value is 75% and our lending policy is very conservative. Our primary investment philosophy is to preserve capital.

Who does Pacifica lend to?

Pacifica lends to borrowers who are not able to qualify for conventional mortgages through banks. Typically, our borrowers seek short term mortgages from Pacifica until they can either sell their property or refinance at a later time, once they are able to qualify with the banks. Because these are private mortgages, Pacifica’s rates are higher than the banks.

How often do I receive dividends?

Dividends are issued quarterly based on a November 30 year end for Pacifica. Dividends can be paid out in cash or reinvested automatically based on each investor’s preference.

How are the dividends treated for income tax?

Although you receive dividends from Pacifica, they are treated as interest income for income tax purposes. You will receive a T5 statement each year showing what interest you received during the year. Please check with your accountant for specific tax advice.

Will I receive statements?

Yes, you will receive a quarterly statement showing the balance of your investment. At the end of the year, you will receive a copy of our audited financial statements as well as a T5 statement in the early part of the following year.

Can I invest through my RRSP, RRIF Or TFSA?

Yes, Pacifica is a qualified investment for self-directed RRSP, RRIF and TFSA accounts. BlueShore Financial is able to offer self-directed RRSP, RRIF and TFSA accounts for investment into Pacifica. Please contact us and we will be able to assist you with your investment or to answer any other questions you may have.

Can I invest if I don’t have an RRSP, RRIF or TFSA?

Yes, you can invest without an RRSP, RRIF or TFSA. Please contact us and we will be able to assist you with your investment or to answer any other questions you may have.

How do I get my money back?

Under the Offering Memorandum, you must provide 18 months’ notice to redeem your shares. Pacifica may consider requests for redemption on an earlier basis.

What returns can I expect on my investment?

We can only provide information on historical returns. Investor returns have been stable over the past 25 years since inception of the fund. For the year ended Nov 30, 2018, the return was 7.74%.

How much are your management fees?

The management fees are 2% of the value of the portfolio per year plus 25% of the fees received. The returns stated above are net of all management fees.

Who manages Pacifica?

Pacifica is managed jointly by Capital West Mortgage Inc. and BlueShore Financial. The management team draws upon the expertise and experience of the leaders of BlueShore and the vast resources of a 4th largest credit union in British Columbia as well as the long term management group at Capital West Mortgage Inc. which has successfully management PMIC since inception in 1994. The website for both companies are: www.capitalwest.ca www.blueshorefinancial.com