The Fund’s investment objective is to (i) maximize total returns for unitholders while reducing risk; and (ii) provide unitholders with monthly cash distributions, by taking long and short positions primarily in corporate bonds and other income securities.
|Inception Date||July 16, 2010|
|Issue Price||$10.00 per Unit|
|Latest Distribution||March 15, 2021 $0.04166 per unit|
|Next Distribution||April 15, 2021 $0.04166 per unit|
|Cumulative Distributions Since Inception||$5.33248 per unit|
|NAV per Unit (March 31, 2021)||$14.56|
|Closing Market price on TSX (Class A) (March 31, 2021)||14.16|
|Total Long Positions and Other||$237.4 Million|
|Total Short Positions||$(84.1) Million|
|Total Net Assets||$153.3 Million|
|Number of Securities Long||121|
|Number of Securities Short||11|
|Term to Maturity (Years)||9.9|
|Yield to Maturity (%)||5.9%|
|Current Yield (%)||6.3%|
|Average Credit Quality2||BB|
▲The NAVs posted are post-distribution.
|Security||% of fund||Rating|
|Royal Bank Of Canada Var Rt 24-Nov-2080||6.6%||BBB|
|Strait Crossing Development 6.170% 15-Sep-2031 144A||6.5%||BBB-|
|Ford Credit Canada Co Var Rt 21-Mar-2024||6.4%||BB|
|AT&T Inc 4.850% 25-May-2047 Restricted||5.9%||BBB|
|Air Canada 9.000% 22-Jun-2024||5.7%||B|
|Yellow Pages Limited||5.1%||N/A|
|Bombardier Inc 144A 7.875% 15-Apr-2027 (USD)||5.0%||CCC-|
|Pembina Pipeline Corp 4.750% 26-Mar-2048 Mtn Ser 11||5.0%||BBB|
|GE Capital Canada Funding Co 5.730% 22-Oct-2037 Mtn||4.6%||BBB+|
|American Airlines Inc 144A 11.750% 07/15/2025 Dd 06/30/20||3.9%||B+|
|Distribution Frequency: Monthly|
|Most Recent Distribution per Unit:|
|12-Month Trailing Distribution Yield:|
|Next Record Date:|
|Next Distribution Date:|
|Record Date||Distribution Date|
|March 31, 2021||April 15, 2021|
|April 30, 2021||May 17, 2021|
|May 31, 2021||June 15, 2021|
|June 29, 2021||July 15, 2021|
|July 30, 2021||August 16, 2021|
|August 31, 2021||September 15, 2021|
|September 30, 2021||October 15, 2021|
|October 29, 2021||November 15, 2021|
|November 30, 2021||December 15, 2021|
|December 31, 2021||January 17, 2022|
|January 31, 2022||February 15, 2022|
|February 28, 2022||March 15, 2022|
|March 31, 2022||April 18, 2022|
Lysander Funds Limited is the investment fund manager of Canso Credit Income Fund (the “Fund”). Refer to the Fund’s Prospectus and disclosure documents available on sedar.com or Lysander’s website below for more details on the Fund before making an investment decision. This document is not an invitation to invest in the Fund nor does it constitute a public offering of sale. Applications for purchases in the Fund will only be considered on the terms of the Prospectus and public disclosure documents which may also be obtained from your Investment Professional. Each purchaser of units in the Fund may have statutory or contractual rights of action. The information in this document is subject to change without notice. You will usually pay brokerage fees to your dealer if you purchase or sell units of the Fund on the Toronto Stock Exchange (TSX). Only Class A units of the Fund are listed on the TSX. If the units are purchased or sold on the TSX, investors may pay more than the current net asset value when buying units of the Fund and may receive less than the current net asset value when selling them. There are ongoing fees and expenses associated with owning units of the Fund. The Fund must prepare disclosure documents that contain key information about the Fund. You can find more detailed information about the Fund in these documents. The indicated rates of return are based on calculated net asset values per unit, which are net of management fees, operating expenses, any applicable performance fees and applicable taxes. These returns include changes in unit value and reinvestment of all distributions and do not take into account certain fees such as redemption fees or optional charges or income taxes payable by any securityholder that would have reduced returns. Investment funds are not guaranteed, their values change frequently and past performance may not be repeated.
Historical fund returns for Class A are shown net of an annual management fee of 0.25%, a service fee of 0.40% and the Fund’s operating expenses. These returns are also net of a management fee of 0.50% received by the Manager from the Canso Credit Trust up to June 25, 2015, plus applicable performance fees and operating expenses. After June 25, 2015 the Canso Credit Trust terminated and the Manager receives an annual management fee of 0.75% from the Fund, plus applicable performance fees on Class A and F units as noted in the Fund’s applicable disclosure documents. There is no service fee paid on class F units. All fees quoted are exclusive of applicable taxes.
The Class A performance numbers shown may be different to the performance of the Class A units of CCIF that are listed on the TSX under the symbol PBY.UN.
Effective July 1, 2020, the Fund discontinued paying servicing fees on Class A units of the Fund.
1Fixed income securities unrated by external agencies are assigned an internal Canso rating for Average Credit Quality.®Lysander Funds is a registered trademark of Lysander Funds Limited.