The Celernus Mortgage and Income Trust (CMIT) launched May 1, 2013. CMIT’s investment objective (to be accomplished indirectly by investments held in the Celernus Mortgages LP) is to provide investors with consistent monthly income while simultaneously protecting capital. Celernus Mortgages LP will invest directly in mortgages with a loan to value measure that provides a desirable degree of security of capital. In addition to Celernus Mortgages LP, the fund will invest in other asset-backed debt, government and corporate bonds and debentures, convertible debt, common equities, warrants, preferred shares, trust units, REITS, derivative instruments and other securities. As of December 30, 2022 this fund is closed to new subscriptions.
The Celernus Mortgages LP is designed to provide a steady stream of interest income with a high degree of safety. By investing in short term mortgages with terms predominantly between six and twelve months and maintaining a loan to value ratio for the portfolio of less than eighty percent, Celernus Mortgages LP offers a high degree of safety. Due to the short term nature of the mortgages, the principle invested is not subject to the swings in value due to changes in interest rates that medium and longer term fixed income investments are subject to. Each individual mortgage that the limited partnership invests in is carefully underwritten and selected to meet the standards for safety and return. The portfolio consists of mortgages secured by residential single family dwellings, multi-family residential, commercial, land and construction financing. The limited partnership does not intend to utilize leverage for the purpose of increasing returns; however, some leverage may be employed temporarily from time to time for the purpose of facilitating redemptions.Fund Files