The TD Greystone Mortgage Fund celebrated its 15-year anniversary in the fall of 2022, marking a decade and a half of stable income generation for institutional investors through the underwriting of high-quality commercial mortgages secured by top-tier commercial real estate assets. These assets include well-known properties such as One York and the Bay Wellington Tower in Toronto and the Riverbend Business Park in Vancouver.

To mark the anniversary, TD Asset Management Inc. (TDAM) has just published a special in-depth report called the TD Greystone Mortgage Fund: 15 Years of Income Generation.

Generating Predictable and Stable Income

The guiding principle of the TD Greystone Mortgage Fund is to generate predictable income streams that institutional clients can rely on. The fund has delivered on that mandate since inception, providing consistent income returns across a plethora of market stress points, with over 97% of the fund’s total historical performance attributable to income.

Bottom-Up Expertise

The fund privately negotiates and finances commercial mortgages secured by properties across Canada and within the four major property types, industrial, office, retail and multi-unit residential.

Every mortgage investment starts with the underlying commercial real estate that is securing it. If TDAM's mortgage team does not believe a property is competitively positioned within its sub-market, it will not move forward with the investment.

The team enhances risk-adjusted income through its extensive network of relationships, with 85% of its portfolio holdings being with repeat or strategic borrowers. The fund also customizes mortgages to provide additional utility to borrowers while ensuring that clients are fully protected and compensated.

Quick Facts About the Fund

• $6.8 billion in assets under management representing 144 clients1
• Majority of loans sourced off-market through repeat or strategic borrowers2
• Yield of 6.3% and a duration of 2.1 years3
• Similar volatility to core bonds, with daily independent pricing

Since Inception Highlights

• $13.4 billion in commercial mortgage investments funded4
• 4.9% annualized income return5
• Zero historical loan losses6
• Average yield premium of 2.3% vs. universe bonds7

To learn more about the fund's investment philosophy and process, how it integrates ESG factors, as well as its history and the team which manages it, read the full report.