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.
| Inception Date | December 31, 2000 |
| Currency | CAD |
| Fund AUM | $2.5 Billion |
| Management Fee | 1.40% |
| MER as of December 31, 2020 | 1.65% |
| Minimum Initial Investment | $25,000 (accredited investor) |
| RRSP Eligible | Yes |
| Holdings | 224 |
| Term to Maturity (Years) | 6.0 |
| Yield to Maturity (%) | 3.9% |
| Current Yield (%) | 4.6% |
| Duration (Years) | 3.2 |
| Average Credit Quality | BB- |
▲The NAVs posted are post-distribution.
| Security | % of NAV | Rating |
|---|---|---|
| Canso Strategic Credit Fund - Series O - 339O | 9.6% | NA |
| Air Canada 9% Jun 22, 2024 | 4.1% | B |
| American Airlines Inc. 11.75% Jul 15, 2025 (USD) 144A | 3.2% | B+ |
| Bombardier Inc. 7.875% Apr 15, 2027 (USD) 144A | 2.6% | CCC |
| Ford Credit Canada Co. FRN Mar 21, 2024 (Q CDOR + 314) | 2.5% | BB+ |
| Manulife Financial Corp 3.375% Jun 19, 2026/2081 | 2.2% | BBB+ |
| TransCanada Pipelines FRN May 15, 2067 (Q LIBOR+221) (USD) | 2.2% | BBB |
| RBC (AT1) 4.5% Nov 24, 2025/2080 | 2.2% | BBB |
| BMO Laddered Preferred Share ETF | 2.0% | NA |
| CIBC FRN Mar 4, 2025 (CORRA + 46) | 2.0% | A |
| Total | 32.6% |
| Security | % of NAV | Rating |
|---|---|---|
| American Airlines Inc. 11.75% Jul 15, 2025 (USD) 144A | 10.5% | B+ |
| Air Canada 9% Jun 22, 2024 | 7.7% | B |
| Bombardier Inc. 7.875% Apr 15, 2027 (USD) 144A | 5.6% | CCC |
| Hertz Corp. VFN USD 1M L + 152 Mar 31, 2022 (USD) | 5.5% | NR |
| Boeing Co 6.125% Feb 15, 2033 (USD) | 5.4% | BBB- |
| AMC Entertainment Holdings 10.5% Apr 15, 2025 (USD) | 4.9% | CCC |
| Gannett Holdings LLC TLB USD 1M L + 700 Feb 9, 2026 (USD) | 4.0% | B |
| Occidental Petroleum Corp. 3% Feb 15, 2027 (USD) | 3.8% | BB |
| Avis Budget Car/Finance 4.75% Apr 1, 2028 144A (USD) | 3.4% | B- |
| Spirit Aerosystems Inc. 4.6% Jun 15, 2028 (USD) | 2.9% | CCC+ |
| Total | 53.7% |
Performance shown is that of Series C
| Record Date | Distribution Date |
|---|---|
| March 25, 2021 | March 26, 2021 |
| June 24, 2021 | June 25, 2021 |
| September 23, 2021 | September 24, 2021 |
| December 30, 2021 | December 31, 2021 |
Canso Fund Management Ltd. is the investment fund manager of Canso Corporate Value 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.
* Source: London Stock Exchange Group plc and its group undertakings (collectively, the “LSE Group”). © LSE Group 2021. FTSE Russell is a trading name of certain of the LSE Group companies. “FTSE ®” is a trade mark of the relevant LSE Group companies and is used by any other LSE Group company under license. All rights in the FTSE Russell indexes or data vest in the relevant LSE Group company which owns the index or the data. Neither LSE Group nor its licensors accept any liability for any errors or omissions in the indexes or data and no party may rely on any indexes or data contained in this communication. No further distribution of data from the LSE Group is permitted without the relevant LSE Group company’s express written consent. The LSE Group does not promote, sponsor or endorse the content of this communication.