Overview
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Asset ClassFixed Income
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CategoryCanadian Corporate Fixed Income
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Risk RatingLow
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Holdings56
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Yield to Maturity5.4%
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Current Yield4.2%
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Average Duration6.2 Years
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Average Credit QualityAA-
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
December 31, 2022Inception Date | March 31, 2008 |
Currency | CAD |
Fund AUM | $66.7 Million |
Management Fee | 0.55% |
MER as of December 31, 2021 | 0.71% |
Minimum Initial Investment | $25,000 (accredited investor) |
RRSP Eligible | Yes |
Portfolio Characteristics
Holdings | 56 |
Average Term to Maturity (Years) | 9.9 |
Average Duration (Years) | 6.2 |
Yield to Maturity (%) | 5.4% |
Current Yield (%) | 4.2% |
Average Credit Quality1 | AA- |
Credit Quality Breakdown
AA & Higher | 53.1% |
A | 23.1% |
BBB | 23.8% |
Sector
Communication | 1.5% |
Energy | 9.6% |
Financial | 27.0% |
Federal | 27.8% |
Industrial | 2.4% |
Infrastructure | 21.6% |
Provincial | 8.7% |
Real Estate | 1.1% |
Other | 0.4% |
Portfolio
Top 10 Holdings
Canso Canadian Bond Fund
Security | % of Fund | Rating |
---|---|---|
Canada 1% Jun 1, 2027 | 11.7% | AAA |
Canada 2% Jun 1, 2028 | 7.3% | AAA |
Pacific Life Global Funding II FRN Feb 1, 2027 (Q CDOR+38) | 6.3% | AA- |
Goldman Sachs FRN Apr 29, 2025 (CDOR+37) | 5.5% | A |
Bank of America Corp FRN Sep 15, 2027 (Q CDOR+60) | 5.4% | A |
Sun Life Financial Inc. FF 3.05% Sep 19, 2023/2028 | 5.2% | A |
Morgan Stanley FRN Mar 21, 2025 (Q CDOR +33) | 5.2% | A+ |
TransCanada Pipelines FRN Jun 9, 2024 (Q CDOR+29) | 4.9% | BBB+ |
Toyota Credit Canada Inc. 2.31% Oct 23, 2024 | 4.6% | A+ |
Met Life Glob Funding I 3.257% Apr 1, 2025 | 3.6% | AA- |
Total | 59.7% |
Performance
Inception Date
March 31, 2008
As of Date
December 31, 2022
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% | 0.3% | -9.5% | -9.5% | -1.1% | 0.8% | 2.2% | 3.7% |
Calendar Year Returns - Series C
Distributions
Quarterly Distributions
Record Date | Distribution Date |
---|---|
March 24, 2022 | March 25, 2022 |
June 23, 2022 | June 24, 2022 |
September 29, 2022 | September 30, 2022 |
December 29, 2022 | December 30, 2022 |