Legal & Performance Disclosures

Disclosures

Last updated: July 3, 2026

This page explains how to read the performance information shown in our marketing materials and on this website, and sets out the principal risks of investing. It should be read together with our Terms of Use and the Offering Memorandum, which governs in the event of any inconsistency.

1. How to read our performance figures

The yield figures shown in our marketing materials (for example, a targeted annual yield) refer to the yield/distribution generated by the Fund’s mortgage portfolio. A portfolio or target yield is not the same as the return an investor earns on their shares, which is calculated after all fund fees and expenses (including the management and administration fee). You should focus on the after-expense return on shares, shown below and in the Fund Fact Sheet, when evaluating an investment.

All yields and returns quoted are annualized. Any target or illustrative figure is a goal, not a promise, and is not guaranteed. Where our materials refer to a “yield,” it means the portfolio/target yield described above; where they refer to a “return,” it means the after-expense return on shares.

2. Basis of the historical figures

Performance figures are based on the historical results of the Morex Fund from its inception in February 2012 to the date shown, and are not guaranteed. Historical results reflect market and credit conditions that may not recur. Class A shares carry a management and administration fee of 1.37% per annum; different share classes (for example, Class F) have different fees and therefore different returns.

3. Principal risks

An investment in the Fund involves significant risks, including the possible loss of some or all of your principal. These risks include, without limitation:

• No guarantee & not insured. Shares are not guaranteed and are not covered by the Canada Deposit Insurance Corporation (CDIC) or any other deposit or investor-protection insurance.
• Distributions are not guaranteed and may be reduced, suspended, or made as a return of capital.
• Illiquidity & redemption limits. Shares are not listed on any exchange and there is no secondary market. Redemptions are subject to a one-year closed period and 90 days’ notice on the anniversary, and may be delayed or suspended.
• Mortgage, credit & real-estate risk. The Fund invests in mortgages secured by residential real property (primarily in the Greater Toronto Area); borrower default, declining property values, and changing interest rates can reduce income and capital.
• Concentration. The portfolio is concentrated in a single asset class and region.
• Reliance on the manager and potential conflicts of interest.

This is a summary only. The Offering Memorandum contains a complete description of the risk factors and should be reviewed carefully before investing.

4. Forward-looking information

Our materials may contain forward-looking statements (including targets and projections) that involve assumptions, risks, and uncertainties. Actual results may differ materially, and we undertake no obligation to update forward-looking information except as required by law.

5. Eligibility & jurisdiction

Information about the Fund is intended only for residents of Canadian jurisdictions where the offering is lawful, and only for persons who qualify as Accredited Investors (minimum investment $5,000 for accredited individuals; $150,000 for certain non-individuals). Shares are eligible for TFSA, RRSP, LIRA, and RRIF accounts. Nothing here is directed at any person in a jurisdiction where such distribution would be unlawful.

6. Fund Fact Sheet

The Fund Fact Sheet sets out the Fund’s historical annualized returns after all fund expenses, fees, distribution history, and key terms. It is the source of the after-expense return figures referenced above.

7. Contact

Morex Asset Management Corp.
5025 Orbitor Drive, Building 2, Suite 200
Mississauga, Ontario  L4W 4Y5
Email: info@morexasset.com
Phone: (905) 896-2642