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December 2009
While you are waiting to move your Home Financing to a Halal option, consider moving your investments as well. What makes this Investment Shariah Compliant is that our Real Estate fund shares rental profits to our investors.
You can move your RSP's, Locked-In Pension Plans and most Education Savings Plans to UM Investment.
UM Launches $100 Million Real Estate Fund
UM Group's newest division, UM Real Estate Investment Inc. [UM REI], is the creation of a Shariah compliant Mortgage Investment Corporation. UM REI created by virtue of Section 130.1 of the Income Tax Act, a federal statute, to enable investors to invest in a pool of mortgages. This allows a flow-through investment vehicle and distributes 100% of its net income to its shareholders while being a tax-exempt corporation.
UM REI collects funds from its investors and operates as a fund manager, restricting investment to real estate. After ensuring mortgage security on real estate profits are made by collecting rentals on properties and fees. Collected funds will only be invested in properties that can provide a minimum rental return of approximately 8%.
Furthermore, like UM Financial which has a $120M Residential Real Estate portfolio, UM REI is also addressing grassroots demands from the Canadian Muslim community. Currently, UM client's have placed real estate mortgage security directly through their lawyers, totaling over
$5 million in the last three years. Referrals are available upon request.
For more information please call Br. Asad Ullah Khan at
Features:
Share Subscription: $100 Million @ $ 1 per share
Minimum Subscription: $2,000 RSP Eligible ?: Yes, RESP and TFSA also
Dividend: 3 Times per year
Investment: Real Estate Properties in Canada
 MIC_Shariah_Compliant_c.ppt
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