Registered unit holders in the Guardian Mortgage Fund have voted overwhelmingly in support of the resolution to enable Guardian Trust to wind up the Fund and begin making partial repayments of capital.
Guardian Trust is now determining the initial capital repayment amount and payment date. It is anticipated that the first repayment will be made in the next few months, and that the wind-up process will take 2-3 years, depending on market conditions and the ability to liquidate loans or sell properties.
The Guardian Mortgage Fund was suspended in July 2008 with $249 million in holdings. It invested only in first mortgages were advances were restricted to a maximum of 60% of valuations across commercial, industrial, farming and residential sectors
