CFM111 A
Canso
Corporate Value Fund
Series A

Series

Key Documents

  • Asset class
    Fixed Income
  • Category
    Global Corporate Fixed Income
  • Risk Rating
    Low
  • Number of Securities
    157
  • Yield to Maturity
    3.1%
  • Current Yield
    3.5%
  • Average Duration
    1.2 Years
  • Average Credit Quality
    A-

NAV

  • CDN $ NAV
    11.91
  • Change NAV $
    -0.04
  • Change NAV %
    -0.33
  • Date
    2020-02-27

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.

Fund Facts

Fund Category: Fixed Income
Total Fund Assets: $1.8 Billion
Inception Date: December 31, 2000
Minimum Investment: $25,000 (accredited investor)
Distribution Frequency: Quarterly
Management Fee: Series A: 1.40%
Series F: 0.65%
MER (Dec 31, 2018): Series A: 1.64%
Series F: 0.79%
Fund Manager: Canso Fund Management Ltd.
Portfolio Manager: Canso Investment Counsel Ltd. ("Canso")
Holdings: 157
Term to Maturity: 4.5 Years
Yield to Maturity: 3.1%
Current Yield: 3.5%
Duration: 1.2 Years
Average Credit Quality1: A-

Credit Quality Breakdown (%)

Sector

The NAVs posted are post-distribution.

Top 10 Holdings

December 31, 2019
Security % of fund Rating
BMO CB FRN Feb 1, 2023 (3M CDOR + 19) 8.9% AAA
Maxar Technologies Inc. 9.75% Dec 31, 2023 (USD) 5.8% B
RBC CB FRN Jun 27, 2022 (3M CDOR + 14) 4.8% AAA
Lloyds Bank PLC FRN Jul 11, 2023 (3M CDOR + 55) 4.6% A+
Ford Credit Canada Co. FRN Mar 21, 2024 (3M CDOR + 314) 3.8% BBB
AT&T Inc. FRN (Q LIBOR + 118) Jun 12, 2024 (USD) 3.6% BBB
TD CB FRN Jun 28, 2023 (3M CDOR + 31) 3.4% AAA
GE Capital Canada 4.60% Jan 26, 2022 2.9% BBB+
TD Bank CB 1.68% Jun 8, 2021 2.8% AAA
Ford Motor Credit Co LLC FRN Jan 7, 2022 (USD)(Q LIBOR+314) 2.4% BBB
Total 43.0%  

Inception Date

December 31, 2000

As of Date

December 31, 2019

Compound Returns

  • 1 Month
    0.7%
  • 3 Months
    1.7%
  • YTD
    5.9%
  • 1 Year
    5.9%
  • 3 Year (Annualized)
    3.2%
  • 5 Year (Annualized)
    3.9%
  • 10 Year (Annualized)
    7.0%
  • 15 Year (Annualized)
    7.5%
  • Since Inception (Annualized)
    8.6%

Calendar Year Returns

Performance shown is that of Series C

Distributions

Record Date Distribution Date
March 28 2019 March 29 2019
June 20 2019 June 21 2019
September 26 2019 September 27 2019
December 30 2019 December 31 2019
No posts found.

Canso Fund Management Ltd. is the investment fund manager of the Canso Corporate Value 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 0.50%. 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.