In May, Westboro completed its fiscal year 2015 and tenth year of operations. The Westboro Mortgage Investment Corporation (MIC) had another year of strong performance with net yield to investors of 7.7%. This exceeded management’s target for the year.
Westboro MIC interest distributions are paid monthly to investors with an eleven-year average of 9.2% net yield to investors and a proven track record of 134 consecutive months of dividends.
Westboro MIC assets under management are currently at $111 million, up 26.6% from last year (as of July 31, 2015).
Kensington believes that the Westboro MIC’s portfolio, team and investment process has never been stronger and expect continued strong performance and growth in 2016.