CFM124 A
Canso
Corporate Bond Fund
Series A

Series

Key Documents

  • Asset Class
    Fixed Income
  • Category
    Canadian Corporate Fixed Income
  • Risk Rating
    Low
  • Holdings
    166
  • Yield to Maturity
    2.4%
  • Current Yield
    3.4%
  • Average Duration
    7.1 Years
  • Average Credit Quality
    A-

NAV

  • CDN $ NAV
    12.02
  • Change NAV $
    0.01
  • Change NAV %
    0.08
  • Date
    2020-10-23

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 Corporate Bond Index.

Fund Facts

September 30, 2020
Inception Date June 30, 2004
Currency CAD
Fund AUM $933.3 Million
Management Fee 1.35%
MER as of December 31, 2019 1.58%
Minimum Initial Investment $25,000 (accredited investor)
RRSP Eligible Yes

Portfolio Characteristics

Holdings 166
Term to Maturity (Years) 11.2
Yield to Maturity 2.4%
Current Yield 3.4%
Duration (Years) 7.1
Average Credit Quality A-

Credit Quality Breakdown

Sector

The NAVs posted are post-distribution.

Top Ten Holdings - Canso Private Debt Fund

September 30, 2020
Security % of NAV Rating
Arrow Lakes Power Corp (amort) 5.516% Apr 5, 2041 Series B 7.6% A+
Green Timbers LP (amort) 6.838% Jun 30, 2037 5.3% A-
North Battleford Power L.P (amort) 4.958% Dec 31, 2032 5.0% A-
Plenary Properties LTAP LP -CSEC (amort) 6.288% Jan 31, 2044 4.8% A
N.B. Highway (amort) 6.47% Nov 30, 2027 4.5% A+
Inpower BC GP (amort) 4.471% Mar 31, 2033 4.2% BBB+
Pembina Pipeline Corp 4.75% Mar 26, 2048 4.1% BBB
University Ont Institute of Tech (amort) 6.351% Oct 15, 2034 3.8% A-
FSCC (amort) 6.915% Jul 31, 2042 3.8% A-
McCain Finance Canada 4.565% Feb 7, 2033 3.3% A-
Total 46.4%

Top Ten Holdings - Canso Corporate Bond Fund

September 30, 2020
Security % of NAV Rating
Canso Private Debt Fund 9.5% A-
AT&T Inc. 4.85% May 25, 2047 3.8% BBB
Suncor Energy Inc. 5% Apr 9, 2030 3.6% BBB+
TWDC Enterprises 18 Corp. 2.758% Oct 7, 2024 3.5% A-
Pembina Pipeline Corp 4.75% Mar 26, 2048 3.4% BBB
The Walt Disney Company 3.057% Mar 30, 2027 3.0% A-
RBC Dep Note 1.968% Mar 2, 2022 2.7% AA
Enbridge Inc. 4.57% Mar 11, 2044 2.3% BBB+
Magna International Inc. 3.10% Dec 15, 2022 2.1% A-
Shaw Communications Inc. 6.75% Nov 9, 2039 2.1% BBB-
Total 36.0%

Inception Date

June 30, 2004

As of Date

September 30, 2020

Compound Returns

  • 1 Month
    0.0%
  • 3 Months
    1.2%
  • YTD
    10.6%
  • 1 Year
    10.5%
  • 3 Year
    (Annualized)
    6.8%
  • 5 Year
    (Annualized)
    5.0%
  • 10 Year
    (Annualized)
    5.5%
  • 15 Year
    (Annualized)
    5.8%
  • Since Inception
    (Annualized)
    6.0%

Calendar Year Returns

Performance shown is that of Series C

Quarterly Distributions

Record Date Distribution Date
March 26, 2020 March 27, 2020
June 25, 2020 June 26, 2020
September 24, 2020 September 25, 2020
December 30, 2020 December 31, 2020
No posts found.

Canso Fund Management Ltd. is the investment fund manager of the Canso Corporate Bond Fund (the “Fund”).  This document is not an invitation to invest in the Fund and does not constitute a public offering of sale. The Fund is only available under prospectus exemptions and other exemptions available to investors who meet certain eligibility or minimum purchase requirements. Currently these exemptions include the accredited investor exemption and the $150,000 minimum purchase exemption for non-individual investors. Each purchaser of Units in the Fund may have statutory or contractual rights of action. The offering of Units of the Fund is made pursuant to an Offering Memorandum and the information contained herein is a summary only and is qualified by the more detailed information in the Offering Memorandum. Information presented in this material should not be construed as investment or financial advice. Please consult a Financial Advisor. Please read the offering memorandum before investing.

Commission, trailing commissions, management fee and expenses may be associated with investments. Products are not guaranteed, their values change frequently and past performance may not be repeated. The indicated rates of return are historical annual compounded total returns including changes in unit value and reinvestment of all distributions and do not take into account sales, redemption, distribution or optional charges or income taxes payable by any unitholder that would have reduced returns. Historical fund returns are based on Series C NAVs which include a management fee of 0.40%. Information provided is believed to be reliable when published. All information is subject to modification from time to time without notice. Please read the offering document carefully before investing.

1 Fixed income securities unrated by external agencies are assigned an internal Canso rating for Average Credit Quality.