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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Holdings167
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Yield to Maturity5.0%
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Current Yield4.2%
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Average Duration3.7 Years
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Average Credit Quality2A+
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
December 31, 2024Inception Date | December 31, 2000 |
Currency | CAD |
Fund AUM | $6.8 Billion |
Management Fee | 1.40% |
MER as of December 31, 2023 | 1.63% |
Minimum Initial Investment | N/A |
RSP Eligible | Yes |
Portfolio Characteristics
Holdings | 167 |
Average Term to Maturity (Years) | 4.8 |
Average Duration (Years) | 3.7 |
Yield to Maturity (%) | 5.0% |
Current Yield (%) | 4.2% |
Average Credit Quality2 | A+ |
Credit Quality Breakdown
AA & Higher | 50.0% |
A | 9.0% |
BBB | 10.4% |
BB & Lower | 19.7% |
Not Rated | 10.9% |
Sector
Communication | 1.1% |
Energy | 2.1% |
Federal | 38.8% |
Financial | 35.1% |
Industrial | 10.1% |
Publishing/Printing | 0.2% |
Other | 12.6% |
Portfolio
Top 10 Holdings
Canso Corporate Value Fund
Security | % of Fund | Rating |
---|---|---|
Canada 1.5% Dec 1, 2031 | 18.7% | AAA |
Canso Strategic Credit Fund Series O | 9.4% | Not Rated |
Canada 0.5% Dec 1, 2030 | 6.3% | AAA |
RBC CB 4.256% Dec 21, 2026 | 3.8% | AAA |
Air Canada 4.625% Aug 15, 2029 | 3.6% | BB+ |
Hertz 12.625% Jul 15, 2029 144A (USD) | 2.6% | B+ |
BNS Sr. Unsecured 3.807% Nov 15, 2027/28 | 2.4% | A |
Scotia Capital Inc. NHA MBS (97528147) 3.7% Mar 1, 2029 | 2.3% | AAA |
Manulife Financial Corp (AT1) 3.375% Jun 19, 2026/2081 | 2.1% | BBB+ |
MetLife Global Funding l 4.642% Apr 1, 2027 | 1.9% | AA- |
Total | 52.9% |
Top 10 Holdings
Canso Strategic Credit Fund
Security | % of Fund | Rating |
---|---|---|
Canada RRB 0.5% Dec 1, 2050 | 7.5% | AAA |
Canada 0.25% Mar 1, 2026 | 7.0% | AAA |
Bird Construction Inc. | 6.9% | NA |
Air Canada 4.625% Aug 15, 2029 | 4.5% | BB+ |
Canso Private Loan Fund | 3.1% | Not Rated |
Canada 0.5% Sep 1, 2025 | 2.8% | AAA |
Manulife Financial Corp (AT1) 3.375% Jun 19, 2026/2081 | 2.8% | BBB+ |
Hertz 12.625% Jul 15, 2029 144A (USD) | 2.7% | B+ |
BNS Sr. Unsecured 3.807% Nov 15, 2027/28 | 2.5% | A |
The Boeing Company | 2.3% | NA |
Total | 42.1% |
Performance
Inception Date
December 31, 2000
As of Date
December 31, 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) |
0.0% | 1.7% | 8.3% | 8.3% | 3.5% | 8.8% | 6.3% | 7.6% | 8.6% |
Calendar Year Returns - Series C
Distributions
Quarterly Distributions
Record Date | Distribution Date |
---|---|
March 20, 2025 | March 21, 2025 |
June 19, 2025 | June 20, 2025 |
September 18, 2025 | September 19, 2025 |
December 18, 2025 | December 19, 2025 |