LYZ800 F
Lysander-Canso
Balanced Fund
Series F

Series

  • Asset class
    Balanced
  • Category
    Global Equity Balanced
  • Risk Rating
    Low to Medium
  • Number of Securities
    220
  • Yield to Maturity
    3.5%
  • Current Yield
    4.1%
  • Average Duration
    5.9 Years
  • Average Credit Quality
    A

NAV

  • CDN $ NAV
    16.90
  • Change NAV $
    -0.37
  • Change NAV %
    -2.14
  • Date
    2020-02-24

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

Series Inception Date December 23, 2011
Currency CAD
Fund AUM $29.1 Million
NAVPU $17.07
Management Fee 0.75%
MER (As of June 30, 2019 - unaudited) 1.02%
Minimum Initial Investment $1,000
Minimum Subsequent Investment $100
Liquidity Daily
RRSP Eligible Yes

Portfolio Characteristics - Equity

Number of Securities 64
Dividend Yield 1.4%

Portfolio Characteristics - Fixed Income

Number of Securities 156
Number of Issuers 65
Average Term to Maturity (Years) 11.8
Average Duration (Years) 5.9
Average Coupon (%) 4.5%
Yield to Maturity (%) 3.5%
Current Yield (%) 4.1%
Average Credit Quality2 A

Credit Quality Breakdown (%)

The NAVs posted are post-distribution.

Top 10 Holdings - Equity

December 31, 2019
Security % of fund
General Electric 5.3%
SNC Lavalin 4.9%
Maxar Technologies Ltd. 4.4%
Apple Inc. 3.7%
Royal Bank of Scotland- SPON ADR 3.6%
Bombardier Inc. 3.3%
Second Cup ltd. 3.3%
Enbridge Inc. 3.2%
Nintendo Co Ltd 3.0%
Yellow Pages Limited 3.0%
Total 37.6%

Top 10 Holdings - Fixed Income

December 31, 2019
Security % of fund Rating
Canada T-Bill Jan 23, 2020 2.1% AAA
Apple Inc. 2.513% Aug 19, 2024 2.0% AA+
TWDC Enterprises 18 Corp. 2.758% Oct 7, 2024 2.0% A
Lloyds Bank PLC FRN Jul 11, 2023 (3M CDOR + 55) 1.6% A+
Shaw Communications Inc. 6.75% Nov 9, 2039 1.5% BBB-
BMO NHA MBS FRN (98003728) Sep 1, 2024(M CDOR -4) 1.3% AAA
Maxar Technologies Inc. 9.75% Dec 31, 2023 (USD) 1.1% B
AT&T Inc. 4.85% May 25, 2047 1.0% BBB
Eurofima 4.55% Mar 30, 2027 1.0% AA+
Strait Crossing Dev. Inc. (amort) 6.17% Sep 15, 2031 1.0% BBB-
Total 14.5%  

Geographic Breakdown

Inception Date

December 23, 2011

As of Date

December 31, 2019

Compound Returns

  • 1 Month
    4.0%
  • 3 Months
    11.2%
  • YTD
    16.3%
  • 1 Year
    16.3%
  • 3 Year
    (Annualized)
    5.7%
  • 5 Year
    (Annualized)
    3.1%
  • Since Inception
    (Annualized)
    9.6%

Calendar Year Returns

Distributions

Distribution Frequency: Quarterly
Most Recent Distribution per Unit: $0.0507
12-Month Trailing Distribution Yield: 2.1%
Next Record Date: March 26, 2020
Next Distribution Date: March 27, 2020

Quarterly Distributions

Record Date Distribution Date
December 19, 2019 December 20, 2019
March 26, 2020 March 27, 2020
Distributions ($)/Unit3 YTD* 2018 2017 2016 2015 2014 2013 2012
Total Distributions 0.3572 1.4407 0.1465 0.7799 0.9180 0.1036 0.1173 0.1175
Interest   0.0136 - 0.0005 -   0.0076 0.0258
Dividends   0.1956 0.1336 0.1250 0.0265 0.1078 0.1097 0.0590
Capital Gains   1.2376 0.0129 0.6553 0.8915   - 0.0327
Withholding Tax   (0.0062) - (0.0009) - (0.0042) - -

*The final tax character will be determined based on the Fund’s tax year end information

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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. Fixed income securities unrated by external agencies are assigned an internal Canso rating for Average Credit Quality. Distributions are based on the actual number of units outstanding at the relevant time. Distributions are paid in cash or reinvested in additional units, or both. 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.