LYZ804A

Lysander-Canso
Bond Fund
Series A

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

Overview

  • Asset Class
    Fixed Income
  • CIFSC Category
    Canadian Short-Term Fixed Income
  • Risk Rating
    Low
  • Number of Securities
    60
  • Yield to Maturity
    4.0%
  • Current Yield
    3.1%
  • Average Duration
    8.4 Years
  • Average Credit Quality
    A+

NAV

  • CAD $ NAV
    10.58
  • Change NAV $
    0.01
  • Change NAV %
    0.09
  • Date
    2024-10-11

Objectives

The Fund’s objective is to provide above average, long-term total returns consisting principally of interest income by investing primarily in high-quality Canadian dollar denominated fixed income securities of Canadian and foreign issuers.

Investment Focus

The Fund invests in high-quality Canadian dollar denominated fixed income securities of Canadian issuers and up to 60% in foreign issuers. Portfolio is unable to purchase fixed income securities rated below BBB-.

Fund Facts

September 30, 2024
Inception Date December 28, 2011
Currency CAD
Fund AUM $94.0 Million
NAVPU $10.71
Management Fee 1.15%
MER as of June 30, 2024 (unaudited) 1.40%
Minimum Initial Investment $500
Minimum Subsequent Investment $100
Liquidity Daily
RSP Eligible Yes
▲ The NAVs posted are post-distribution

Portfolio Characteristics

Number of Securities 60
Number of Issuers 37
Average Term to Maturity (Years) 11.5
Average Duration (Years) 8.4
Average Coupon (%) 3.1%
Yield to Maturity (%) 4.0%
Current Yield (%) 3.1%
Average Credit Quality2 A+

Credit Quality Breakdown

AA & Higher 48.8%
A 24.5%
BBB 26.7%

Portfolio

Top 10 Holdings

Security % of Fund Rating
Canada RRB 0.5% Dec 1, 2050 17.3% AAA
MetLife Global Funding l 1.95% Mar 20, 2028 5.8% AA-
Nestle Holdings Inc. 2.192% Jan 26, 2029 4.4% AA-
Canada RRB 4.25% Dec 1, 2026 4.3% AAA
Enbridge Inc. 6.51% Nov 9, 2052 4.2% BBB+
Honda Canada Finance Inc 1.646% Feb 25, 2028 4.2% A-
Pembina Pipeline Corp 5.67% Jan 12, 2054 4.1% BBB
Canada 0.5% Dec 01, 2030 3.8% AAA
Pacific Life Global Funding II FRN Feb 1, 2027 (Q CDOR+38) 3.2% AA-
Union Gas Ltd 4.2% Jun 2, 2044 3.0% A-
Total 54.3%

Geographic Breakdown

Canada 76.5%
USA 13.4%
Europe 10.1%

Performance

Inception Date

December 28, 2011

As of Date

September 30, 2024

Compound Returns

1 Month 3 Months YTD 1 Year 3 Year
(Annualized)		 5 Year
(Annualized)		 10 Year
(Annualized)		 Since Inception
(Annualized)
1.8% 3.5% 4.6% 11.9% 1.3% 2.4% 1.9% 2.2%

Calendar Year Returns

Distributions

Distributions

Distribution Frequency Quarterly
Most Recent Distribution per Unit $0.0710
12-Month Trailing Distribution Yield 3.3%
Next Record Date December 19, 2024
Next Distribution Date December 20, 2024

Quarterly Distributions

Record Date Distribution Date
March 21, 2024 March 22, 2024
June 20, 2024 June 21, 2024
September 19, 2024 September 20, 2024
December 19, 2024 December 20, 2024
Lysander Funds 2023 Final Distribution December 15, 2023
Distributions ($)/Unit3 YTD* 2023 2022 2021 2020 2019 2018 2017 2016 2015 2014
Total Distributions 0.2116 0.3090 0.0936 0.1749 0.2415 0.1657 0.1372 0.0862 0.0748 0.2416 0.2087
Interest - 0.3090 0.0936 0.0700 0.2415 0.1657 0.1372 0.0869 0.0754 0.1586 0.2097
Dividends - - - - - - - - - - -
Capital Gains - - - 0.1049 - - - - - 0.0838 -
Withholding Tax - - - - - - - (0.0007) (0.0006) (0.0008) (0.0010)
*The final tax character will be determined based on the Fund’s tax year end information.

Resources

Lysander Funds Limited is the investment fund manager of Lysander-Canso Bond 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. Please read the prospectus before investing. Commissions, trailing commissions, management fees and expenses all may be associated with investment funds.

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. Investment funds are not guaranteed or insured, their values change frequently and past performance may not be repeated.

1Copyright © 2024 FTSE Global Debt Capital Markets Inc. All rights reserved. FTSE Global Debt Capital Markets Inc (“FTDCM”), FTSE International Limited (“FTSE”) or the London Stock Exchange Group companies (the “Exchange” and, together with FTDCM and FTSE, the “Licensor Parties”). The Licensor Parties make no warranty or representation whatsoever, expressly or impliedly, either as to the results to be obtained from the use of the FTSE Canada Indices (“the Indices”) and/or the figure at which the said Indices stand at any particular time on any particular day or otherwise. The Indices are compiled and calculated by FTDCM and all copyright in the Indices values and constituent lists vests in FTDCM. The Licensor Parties shall not be liable (whether in negligence or otherwise) to any person for any error in the Indices and the Licensor Parties shall not be under any obligation to advise any person of any error therein. “FTSE®” is a trade mark of the London Stock Exchange Group companies and is used by FTDCM under licence. “FTSE®” is a trade mark of the FTSE International Limited and is used by FTDCM under license.

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.