MIC investing is an effective way to generate yield while diversifying your portfolio from stocks, bonds and plain Jane real estate. But picking and choosing among MICs (mortgage investment corporations) isn't easy for a layperson. Most smaller investors must put all their MIC eggs in just one or two baskets.
That's where Alitis comes in. The Alitis Private Mortgage Fund is a fund of funds. It invests in a bunch of MICs, providing borrowers with expert management and diversification. (See its Globe and Mail Fund Profile)