Fisgard Asset Management

What Fisgard Asset Management does

Fisgard Asset Management, operating through its flagship entity Fisgard Capital Corporation (FCC), is a Canadian Mortgage Investment Corporation (MIC) founded in 1994 in Victoria, British Columbia. The company's core product is a single-fund structure that pools capital from individual accredited investors to originate and manage a diversified portfolio of mortgages secured by Canadian real estate, targeting underserved borrowers that mainstream lenders do not serve. Shares are sold under prospectus exemptions (primarily the Accredited Investor exemption) at a $1,000 minimum, with monthly dividend distributions, and are eligible for registered plan accounts (RRSP, TFSA, RRIF, RESP, RDSP, FHSA) as well as non-registered accounts. As of March 31, 2026, FCC reported $309.7M in total AUM, a 7.12% 12-month return on Class B shares, and a conservative 55.4% aggregate loan-to-value ratio, with more than 2,400 investors spanning British Columbia to Ontario.

The business model generates revenue through two primary streams: a net interest spread between mortgage portfolio yields and distributions paid to shareholders, and a 1% embedded trailer fee on FCC Class B shares. Distribution is executed through a dedicated in-house client advisory team operating under an Exempt Market Dealer (EMD) registration, complemented by a mortgage broker partner network that sources both borrower flow and prospective investors. The company maintains offices in Victoria and Vancouver, with a lean headcount of 11-50 employees. Compliance with the British Columbia Personal Information Protection Act (PIPA) and a designated Senior Compliance Officer / Chief Compliance Officer indicate a regulated operating posture appropriate to exempt market activities.

In October 2025, Fisgard Asset Management merged with Neighbourhood Holdings, transferring the mortgage financing team to Neighbourhood while FCC's investment vehicle continues to operate under Fisgard branding. The transaction positions Fisgard as a component of a broader Canadian alternative lending consolidation trend driven by funding pressures, regulation, and competitive intensity, while Neighbourhood assumes the origination platform. FCC's investment management, investor servicing, and fund administration continue under Fisgard's EMD and advisory framework, with investors redirected to the Neighbourhood platform for funds information.

Name

Fisgard Asset Management

Legal name

Fisgard Capital Corporation

Website

https://fisgard.com

Company type

Private

Founded year

1994

Operating status

Operating

Headcount range

11–50 employees

Short description

Fisgard Asset Management operates Fisgard Capital Corporation, a Canadian Mortgage Investment Corporation founded in 1994 that pools accredited investor funds to originate mortgages secured by Canadian real estate, serving 2,400+ individual investors across British Columbia to Ontario with monthly dividend distributions.

Ownership category

akta.pro rank

Headquarters

HQ city

Victoria

HQ country

Canada

HQ region

North America

Offices2 records

Markets served

GTM type

B2C

Offering type

Services

Cost components

Personnel, Operations, Technology or R&D

Revenue model

1. Interest Income from Mortgage Lending: FCC pools funds from investors and generates returns through interest income on mortgage loans secured by Canadian real estate. The corporation distributes a significant portion of income to shareholders in the form of regular dividends, typically monthly. Revenue is generated from the spread between mortgage interest rates and cost of capital.
2. Management Fees and Trailer Fees: FCC Class B shares carry a 1% embedded trailer fee as detailed in the Offering Memorandum. This provides ongoing fee revenue based on assets under management.

Pricing tiers

Go-to-market motion2 records

Distribution channels4 records

Marketing channels4 records

Core offering

Fisgard Asset Management operates Fisgard Capital Corporation (FCC), a Mortgage Investment Corporation (MIC) that pools funds from individual accredited investors to originate and manage a portfolio of mortgages secured by Canadian real estate. The company distributes a significant portion of interest income to shareholders in the form of monthly dividends and has maintained uninterrupted dividend payments and redemptions since its founding in 1994. As of October 2025, FCC is managed by Neighbourhood Holdings, while investor servicing continues through the Fisgard brand.

Product overview

Fisgard Asset Management is a single-product-focused financial services company centered on its flagship offering, Fisgard Capital Corporation (FCC) — a Mortgage Investment Corporation (MIC) that has operated since 1994. The company pools investor funds to originate and manage a diversified portfolio of primarily first mortgages secured by Canadian real estate. As of October 2025, FCC was acquired by Neighbourhood Holdings, with the mortgage financing team joining Neighbourhood while FCC's investment management continues. The product suite supports various registered investment accounts (RRSP, TFSA, RRIF, RESP, RDSP, FHSA) and non-registered accounts, with a minimum investment of $1,000 and monthly distribution of returns.

Differentiator

Problem solved

Functional benefit

Products and services

• Fisgard Capital Corporation (FCC) A Mortgage Investment Corporation that pools investor funds to provide mortgage loans secured by Canadian real estate, focusing on the underserved borrower market with flexible financing terms and competitive products. FCC has paid dividends consistently since inception in 1994 and maintains uninterrupted redemptions for investors. Shares are eligible for registered plans including RRSP, TFSA, RRIF, RESP, RDSP, and FHSA, with a minimum investment of $1,000.

Quantifiable outcome

• 12-month return of 7.12% (Class B shares)
• +2 more outcomes

Named customers2 records

Segments3 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

One partnership is on record.

• Neighbourhood HoldingscoreStrategic or Co-development Partner · 1 January 2025Fisgard Asset Management merged with Neighbourhood Holdings. The mortgage financing team has joined Neighbourhood Holdings to continue offering flexible, transparent mortgage solutions. As of October 2025, Fisgard Capital Corporation (FCC) is now managed by Neighbourhood. This merger is part of industry consolidation trend driven by funding pressures, regulation, and competition.

Scale indicators6 records

Recent moves7 records

Expansion highlights5 records

Broad incumbents

• First National Financial Corporation: One of Canada's largest non-bank mortgage lenders and a TSX-listed MIC originator. Highly comparable to Fisgard's mortgage origination and securitization business, though materially larger and operating across Canada.
• Equitable Group (EQ Bank): Canadian Schedule I bank and parent of EQ Bank, with a significant MIC subsidiary (Equitable Mortgage Income Fund). Broad incumbent competitor in the Canadian MIC landscape serving a similar investor demographic.
• CMLS Financial: Major Canadian mortgage finance company with institutional and private MIC products. Overlaps with Fisgard's mortgage origination and investor-fund management activities but operates at significantly larger scale.

Direct peers

• Firm Capital Mortgage Investment Corporation: Canadian MIC focused on short-term mortgage lending secured by real estate. Closely comparable product structure, target investor base (accredited investors seeking monthly income), and underwriting focus to Fisgard's FCC.
• Timbercreek Financial: TSX-listed mortgage investment corporation focused on Canadian commercial real estate short-term mortgages. Direct MIC peer to Fisgard with similar investor base, dividend structure, and regulatory framework.
• Trez Capital: One of Canada's largest private mortgage lenders, managing multiple MIC and mortgage fund products for retail and institutional investors. Comparable to Fisgard in product structure and target borrower/Investor profiles.
• Atrium Mortgage Investment Corporation: Toronto-based MIC providing mortgage financing for residential and small commercial real estate in Canada. Directly comparable to Fisgard in product structure, target borrower segment, and accredited-investor distribution model.
• Romspen Mortgage Investment Fund: Private Canadian mortgage investment fund focused on first-mortgage lending. Comparable to Fisgard in asset class, target investor profile, and exempt-market distribution.
• Marret Asset Management: Canadian alternative credit manager with a flagship MIC offering (Marret MIC). Directly competes with Fisgard for accredited-investor capital seeking mortgage-backed yield.

Others

• Neighbourhood Holdings: Canadian alternative lending platform that acquired management of Fisgard Capital Corporation in October 2025. Strategic acquirer and now operating partner of Fisgard, making it directly relevant for evaluating FCC's go-forward trajectory.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xx.com/FisgardAsset
• Facebookfacebook.com/fisgard
• LinkedInlinkedin.com/company/fisgard-capital-corporation

Compliance1 record

Revenue estimate

Valuation estimate

Number of profiles

Profiles10 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Fisgard Asset Management