What the fund discloses
Perch Capital Mortgage Investment Corporation launched in 2022. Three years of self-reported operation is the entire track record, which is what sets the tone for everything else in this review. The fund operates from a Bay Street address in Toronto with a second address in Ajax, Ontario, pools investor capital into residential mortgage loans, and distributes income back to unit holders. That is the standard Mortgage Investment Corporation model. The numbers the fund publishes are specific: a 9.65% compounded net return, a stated ceiling of up to 12%, a $10,000 entry minimum, and no additional investor fees beyond that. A zero-loss claim covers the full three years. Those are unusually precise claims for a fund this young, and precision cuts both ways. A newer private fund making those numbers without a public audit trail is asking for a degree of trust that the listing itself cannot justify.
The registered-account wrapper is worth noting. TFSA, RRSP, RRIF, and RESP are all supported, so investors can hold units inside tax-sheltered plans. Access runs through two routes: self-directed via the FundServ platform, or through an eligible wealth advisor. The site addresses two audiences, investors on one side and mortgage brokers on the other. Perch Capital Mortgage Investment Corporation accepts borrower referrals for private, non-conventional, and shorter-term residential mortgages from people who do not qualify through chartered banks. Laying out both sides of the capital flow openly is one thing this presentation does better than many comparable fund sites, which bury the borrower profile in product language. Knowing what kind of borrower is generating the yield is useful context for any investor evaluating the risk. Most MIC sites lead with the return figure and say nothing about the loan book behind it. Perch Capital Mortgage Investment Corporation at least shows that the income comes from a specific class of private, non-bank residential borrowers.
The Learn section and what it cannot substitute
The site includes a Learn section that explains MIC basics and the mechanics of borrowing to invest, in plain language. For investors new to alternative income products, that is a practical inclusion. A phone number and full civic addresses are posted openly. For a financial product asking a five-figure minimum commitment, those contact details are basic expectations, not differentiators, but their absence elsewhere in the MIC space is common enough that their presence here is worth noting.
In February, a GlobeNewswire press release quoted a wealth advisor describing Perch Capital Mortgage Investment Corporation as a top-performing alternative investment with consistent monthly dividends. The fund itself would have distributed that release, which limits how much it advances the case. It is one data point, and a promotional one. A ProvenExpert profile exists for the Ajax entity; no rating score or review count appeared there when searched. Those two items together are the full extent of the external footprint for Perch Capital Mortgage Investment Corporation. No independent ratings from Google, Trustpilot, or any comparable platform appear for this entity.
The naming problem
Anyone researching this fund runs into a naming collision. A BBB listing for "Perch Mortgages" is a separate Toronto mortgage broker, accredited since 2023, with no connection to this MIC. Trustpilot and PissedConsumer entries that surface in search results belong to Perch Capital Limited, a UK debt-purchase company, which is entirely unrelated to the Canadian fund. None of those reviews describe Perch Capital Mortgage Investment Corporation, and treating them as evidence in either direction would be wrong.
Three years and no outside ratings
Strip away the naming confusion and what remains is a fund making significant return claims backed by a short, self-reported track record, with no independent third-party ratings from any platform. The zero-loss and 9.65% figures are the fund's own assertions. An offering memorandum would contain audited financials, and that document is where any real assessment has to start. No listing summary can substitute for it on a product of this type, and the absence of that external check is not a minor issue for a fund asking for $10,000 minimums on private units. Perch Capital Mortgage Investment Corporation has operated for three years without accumulating a single independently published rating. That is not damning on its own for a small private fund, but combined with the boldness of the performance claims, it removes any basis for confidence at this stage of research.
The honest comparison is Atrium Mortgage Investment Corporation: TSX-listed, multi-year public track record, independently auditable. Perch Capital Mortgage Investment Corporation is newer, smaller, and privately offered. That is not automatically disqualifying, but taken together with zero outside ratings and a three-year self-reported history, it means the claims cannot be assessed from the outside at all. The structure described is legitimate. The income pitch is coherent. The evidence behind the specific numbers is not accessible to anyone who has not reviewed the offering memorandum directly. For most people weighing where to place alternative income capital, a fund with a public audit history is the more defensible starting point, and Perch Capital Mortgage Investment Corporation does not clear that bar yet.
