Overview
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Asset ClassFixed Income
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CIFSC CategoryCanadian Fixed Income
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Risk RatingLow
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Holdings34
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Yield to Maturity5.1%
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Current Yield4.1%
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Average Duration6.3 Years
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Average Credit QualityA+
Objectives
The Fund seeks to achieve a total return greater than the return achieved by a representative Canadian fixed income index, such as the FTSE Canada Universe Bond Index.
Investment Focus
Established in 1997 by John Carswell, Canso currently manages over $36 billion in assets. Canso is a investment management firm that has demonstrated independent research expertise in fundamental analysis.
Fund Facts
April 30, 2023Inception Date | March 31, 2008 |
Currency | CAD |
Fund AUM | $23.1 Million |
Management Fee | 1.30% |
MER as of December 31, 2022 | 1.51% |
Minimum Initial Investment | $25,000 (accredited investor) |
RRSP Eligible | Yes |
Portfolio Characteristics
Holdings | 34 |
Average Term to Maturity (Years) | 9.8 |
Average Duration (Years) | 6.3 |
Yield to Maturity (%) | 5.1% |
Current Yield (%) | 4.1% |
Average Credit Quality1 | A+ |
Credit Quality Breakdown
AA & Higher | 53.6% |
A | 21.2% |
BBB | 25.2% |
Sector
Communication | 1.6% |
Energy | 10.6% |
Financial | 27.8% |
Federal | 29.1% |
Industrial | 2.5% |
Infrastructure | 20.4% |
Provincial | 6.7% |
Real Estate | 1.1% |
Other | 0.3% |
Portfolio
Top 10 Holdings
Canso Canadian Bond Fund
Security | % of Fund | Rating |
---|---|---|
Canada 1.25% Jun 1, 2030 | 8.3% | AAA |
Equitable Bank NHA MBS (97518564) 0.75% Nov 1, 2025 | 6.8% | AAA |
MetLife Global Funding I 3.394% Apr 9, 2030 | 6.2% | AA- |
Hwy 407 Jr Secured 7.125% Jul 26, 2040 | 5.5% | A- |
New York Life Global FDG 2% Apr 17, 2028 | 5.5% | AAA |
Nav Canada (amort) 7.56% Mar 1, 2027 | 5.4% | AA- |
Canada 1.75% Dec 1, 2053 | 5.1% | AAA |
WTH Car Rental ULC (AVIS) 2.781% Jul 22, 2024 | 4.9% | AAA |
University Ont Institute of Tech (amort) 6.351% Oct 15, 2034 | 4.2% | A- |
Scotia Capital NHA MBS FRN (98004951) Dec 1, 2026(M CDOR-13) | 4.2% | AAA |
Total | 56.1% |
Performance
Inception Date
March 31, 2008
As of Date
April 30, 2023
Compound Returns - Series C
1 Month | 3 Months | YTD | 1 Year | 3 Year (Annualized) |
5 Year (Annualized) |
10 Year (Annualized) |
Since Inception (Annualized) |
1.1% | 1.0% | 3.8% | 2.3% | -1.0% | 1.6% | 2.3% | 3.9% |
Calendar Year Returns - Series C
Distributions
Quarterly Distributions
Record Date | Distribution Date |
---|---|
March 30, 2023 | March 31, 2023 |
June 29, 2023 | June 30, 2023 |
September 28, 2023 | September 29, 2023 |
December 28, 2023 | December 29, 2023 |