Commentary Archives

Insights

At Lysander Funds we strive to inform and educate Canadian investors. In this section you'll find resources that highlight the thinking of our Portfolio Managers.

Fulcra Commentary – Q3 2025

Opacity Emerges in Private Credit Compared to the first two quarters of 2025, Q3 was relatively benign. Credit market participants enjoyed low volatility as the Bloomberg US Corporate High Yield Bond Index spread over treasuries traded…

Patient Capital Quarterly Commentary – Q3 2025

The third quarter of 2025 closed with a broad-based – rally across North American equities, underpinned by an inflection toward lower interest rates and a resilient U.S. economy. In the United States, the S&P 500 Index…

Slater Quarterly Recap – Q3 2025

The Canadian Preferred Share market had another positive quarter in 2025 with the S&P/TSX Preferred Share Total Return Index (the “Index”) up 4.3%. In comparison, Series F of Lysander-Slater Preferred Share Dividend Fund (the “Fund”), and…

Canso October 2025 Corporate Bond Newsletter

Golden Era Fear and uncertainty moved aside this summer, and optimism is now abound. Central Bankers are cutting rates, equity markets are touching new highs, and the Toronto Blue Jays are headed to the World Series!…

Canso October 2025 Market Observer

We last left you in early July with the observation that the financial markets now seemed to thrive on and reward uncertainty. The equity and credit markets had plunged in March on the initial economic…

The S&P 500 has been Flying High; Now May be the Time to Diversify

US Market is Flying High The S&P 500 Index1 (“S&P 500” or the “Index”) has been on a tear. As of August 31, 2025, the Index hit an all-time high returning 9.8%, year-to-date, after it returned…

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