LYZ800A

Lysander-Canso
Balanced Fund
Series A

Series
Key Documents
Fund Profile
Fund Facts
Prospectus
Lysander Funds Ltd.

Overview

  • Asset Class
    Balanced
  • Category
    Global Equity Balanced
  • Risk Rating
    Medium
  • Number of Securities
    111
  • Yield to Maturity
    4.4%
  • Current Yield
    2.8%
  • Average Duration
    1.9 Years
  • Average Credit Quality
    AA-

NAV

  • CAD $ NAV
    17.61
  • Change NAV $
    -0.05
  • Change NAV %
    -0.28
  • Date
    2022-10-05

Objectives

The Fund’s objective is to provide above average, long-term total returns consisting of both income and capital gains by investing primarily in a portfolio of fixed income securities and equities.

Investment Focus

The Fund seeks to provide capital growth while moderating equity volatility by investing in a diversified portfolio of equities and bonds. It is unrestricted in both credit quality and geographic allocation.

Fund Facts

August 31, 2022
Inception Date December 28, 2011
Currency CAD
Fund AUM $40.0 Million
NAVPU $17.90
Management Fee 1.50%
MER as of June 30, 2022 (unaudited) 1.81%
Minimum Initial Investment $1,000
Minimum Subsequent Investment $100
Liquidity Daily
RRSP Eligible Yes
▲ The NAVs posted are post-distribution

Portfolio Characteristics - Fixed Income

Number of Securities 70
Number of Issuers 75
Average Term to Maturity (Years) 4.5
Average Duration (Years) 1.9
Average Coupon (%) 2.0%
Yield to Maturity (%) 4.4%
Current Yield (%) 2.8%
Average Credit Quality AA-

Portfolio Characteristics - Equity

Number of Securities 41
Dividend Yield (%) 2.2%

Credit Quality Breakdown

AA & Higher 54.8%
A 20.6%
BBB 16.1%
BB & Lower 7.7%
Not Rated 0.8%

Portfolio

Top 10 Holdings

Security % of Fund Rating
Canada 0.25% May 1, 2023 8.5% AAA
Canada 0.25% Nov 1, 2022 4.3% AAA
Concentra Bank NHA MBS (97512140) 2.54% Jul 1, 2023 4.0% AAA
First National NHA MBS (97511981) 2.39% Jul 1, 2023 3.4% AAA
Honda Canada Finance Inc. FRN Feb 26, 2024 (Q CDOR+9) 2.3% A-
Scotia Capital NHA MBS FRN (98100013) Jun 1, 2027 (CORRA+35) 1.9% AAA
Bank of America Corp FRN Sep 15, 2027 (Q CDOR+60) 1.9% A
BNS FRN Aug 4, 2026 (CORRA+54) 1.4% A
Goldman Sachs FRN Apr 29, 2025 (CDOR+37) 1.2% A
First National NHA MBS FRN (98004947) Jan 1, 2027(M CDOR-11) 1.2% AAA
Total 30.1%

Top 10 Holdings

Security % of Fund
Cenovus Energy Inc. 5.6%
Manulife Financial Corp. 3.4%
Apple Inc. 3.2%
Yellow Pages Limited 3.1%
Enbridge Inc. 3.0%
Ovintiv Inc. 2.8%
Hertz Global Holdings Inc 2.8%
NatWest Group PLC- SPON ADR 2.4%
SNC Lavalin 2.3%
Kraft Heinz Co. 2.1%
Total 30.7%

Geographic Breakdown

Canada 72.1%
USA 23.6%
Europe 4.2%

Performance

Inception Date

December 28, 2011

As of Date

August 31, 2022

Compound Returns

1 Month 3 Months YTD 1 Year 3 Year
(Annualized)		 5 Year
(Annualized)		 10 Year
(Annualized)		 Since Inception
(Annualized)
-0.4% -4.0% -4.7% 0.3% 15.7% 7.9% 9.6% 9.5%

Calendar Year Returns

Distributions

Distributions

Distribution Frequency Quarterly
Most Recent Distribution per Unit $0.0301
12-Month Trailing Distribution Yield 14.9%
Next Record Date September 29, 2022
Next Distribution Date September 30, 2022

Quarterly Distributions

Record Date Distribution Date
March 24, 2022 March 25, 2022
June 23, 2022 June 24, 2022
September 29, 2022 September 30, 2022
December 15, 2022 December 16, 2022
Distributions ($)/Unit3 YTD* 2021 2020 2019 2018 2017 2016 2015 2014 2013 2012
Total Distributions 0.0330 2.6543 0.0301 0.1112 1.2100 0.0210 0.5712 0.7556 0.0384 0.0313 0.0536
Interest - 0.0046 0.0048 0.0151 0.0115 - 0.0004 - - - 0.0097
Dividends - 0.1449 0.0268 0.1046 0.1643 0.0191 0.0915 0.0218 0.0399 0.0313 0.0439
Capital Gains - 2.5117 - - 1.0395 0.0019 0.4799 0.7338 - - -
Withholding Tax - (0.0069) (0.0015) (0.0085) (0.0052) - (0.0006) - (0.0015) - -
*The final tax character will be determined based on the Fund’s tax year end information.

Resources

Canso and GICs – May 2022

1. Greater Initial Yield–Lysander-Canso fixed income funds’ portfolios generally have greater yields than 1-Year, 3-Year, and 5-Year GICs as of March 31st, 2022 2. Historical Outperformance–Lysander-Canso fixed income funds have demonstrated outperformance compared to GICs, as…
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Lysander Funds Limited is the investment fund manager of Lysander-Canso Balanced Fund (the “Fund”). This document is not an invitation to invest in the Fund and does not constitute a public offering of sale. Purchases in the Fund can only be made through an Investment Professional on the terms in the Fund’s offering document by eligible investors. Each purchaser of units in a fund may have statutory or contractual right of action. Commissions, trailing commissions, management fees and expenses all may be associated with mutual fund investments. Please read the prospectus before investing. 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 securityholder that would have reduced returns. Mutual funds are not guaranteed or insured, their values change frequently and past performance may not be repeated. 1Source: FTSE Canada Global Debt Capital Markets. Copyright © FTSE Canada Global Debt Capital Markets. All rights reserved. Copyright © 2022 MSCI Inc. All rights reserved. 2Fixed income securities unrated by external agencies are assigned an internal Canso rating for Average Credit Quality. 3Distributions are based on the actual number of units outstanding at the relevant time. Distributions are paid in cash or reinvested in additional units. If the series’ net income/capital gains is less than the amounts distributed in the year, the distribution will include a return of capital. In these circumstances, if an investor elects to receive their distributions in cash and not reinvest distributions, it is expected that the value of their investment will decline over time. Distributions are not an indication of performance, rate of return or yield.

®Lysander Funds is a registered trademark of Lysander Funds Limited.