Overview
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Asset ClassFixed Income
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CIFSC CategoryGlobal Corporate Fixed Income
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Risk RatingLow
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Holdings189
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Yield to Maturity6.4%
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Current Yield4.7%
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Average Duration2.3 Years
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Average Credit QualityA
Objectives
The Fund seeks to achieve above average income returns through a diversified portfolio composed primarily of debt and money market securities. The Fund may occasionally invest in equity securities. The Fund will attempt to manage the allocation among securities to lower the risk of capital loss as the Investment Manager deems appropriate.
Investment Focus
Established in 1997 by John Carswell, Canso is an investment management firm that has demonstrated independent research expertise in fundamental analysis.
Fund Facts
February 29, 2024Inception Date | December 31, 2000 |
Currency | CAD |
Fund AUM | $5.2 Billion |
Management Fee | 0.65% |
MER as of December 31, 2022 | 0.79% |
Minimum Initial Investment | $2,500 (accredited investor) |
RSP Eligible | Yes |
Portfolio Characteristics
Holdings | 189 |
Average Term to Maturity (Years) | 3.9 |
Average Duration (Years) | 2.3 |
Yield to Maturity (%) | 6.4% |
Current Yield (%) | 4.7% |
Average Credit Quality1 | A |
Credit Quality Breakdown
AA & Higher | 47.4% |
A | 10.1% |
BBB | 13.7% |
BB & Lower | 20.2% |
Not Rated | 8.6% |
Sector
Communication | 3.9% |
Energy | 3.8% |
Federal | 29.4% |
Financial | 34.6% |
Industrial | 14.7% |
Publishing/Printing | 0.2% |
Other | 13.4% |
Portfolio
Top 10 Holdings
Canso Corporate Value Fund
Security | % of Fund | Rating |
---|---|---|
Canada 0.25% Mar 01, 2026 | 10.2% | AAA |
Canada 0.5% Dec 01, 2030 | 6.8% | AAA |
Canso Strategic Credit Fund - Series O - 339O | 6.6% | NA |
RBC CB 4.256% Dec 21, 2026 | 4.8% | AAA |
Air Canada 4.625% Aug 15, 2029 | 4.2% | BB+ |
TD Bank CB 4.516% Jan 29, 2027 | 2.2% | AAA |
Pacific Life Global Funding II FRN Feb 1, 2027 (Q CDOR+38) | 2.1% | AA- |
Manulife Financial Corp (AT1) 3.375% Jun 19, 2026/2081 | 2.0% | BBB+ |
Canada RRB 4.25% Dec 1, 2026 | 1.9% | AAA |
TD Bank CB FRN Jun 8, 2026 (CORRA+65) | 1.8% | AAA |
Total | 42.6% |
Top 10 Holdings
Canso Strategic Credit Fund
Security | % of Fund | Rating |
---|---|---|
Canada RRB 0.5% Dec 1, 2050 | 9.9% | AAA |
Canada 0.5% Sep 1, 2025 | 8.1% | AAA |
Air Canada 4.625% Aug 15, 2029 | 6.4% | BB+ |
Bombardier Inc. 7.45% May 1, 2034 REGS (USD) | 5.2% | B |
Canada 1.75% Dec 1, 2053 | 4.8% | AAA |
Canada 0.25% Mar 1, 2026 | 4.7% | AAA |
LATAM Airlines Group SA 13.375% Oct 15, 2029 144A (USD) | 4.2% | B+ |
Cineplex Inc. 5.75% Sep 30, 2025 | 3.9% | Not Rated |
Black Press Group Ltd. 12% Mar 31, 2024 | 3.2% | Not Rated |
Canada 0.5% Dec 1, 2030 | 3.0% | AAA |
Total | 53.4% |
Performance
Inception Date
December 31, 2000
As of Date
February 29, 2024
Compound Returns - Series C
1 Month | 3 Months | YTD | 1 Year | 3 Year (Annualized) |
5 Year (Annualized) |
10 Year (Annualized) |
15 Year (Annualized) |
Since Inception (Annualized) |
0.8% | 3.0% | 1.0% | 7.6% | 4.3% | 8.1% | 6.1% | 8.9% | 8.6% |
Calendar Year Returns - Series C
Distributions
Quarterly Distributions
Record Date | Distribution Date |
---|---|
March 21, 2024 | March 22, 2024 |
June 20, 2024 | June 21, 2024 |
September 19, 2024 | September 20, 2024 |
December 19, 2024 | December 20, 2024 |