LYZ804 A
Lysander-Canso
Bond Fund
Series A

Series

  • Asset Class
    Fixed Income
  • Category
    Canadian Short-Term Fixed Income
  • Risk Rating
    Low
  • Number of Securities
    88
  • Yield to Maturity
    1.9%
  • Current Yield
    3.1%
  • Average Duration
    4.6 Years
  • Average Credit Quality
    A

NAV

  • CDN $ NAV
    11.11
  • Change NAV $
    0.01
  • Change NAV %
    0.09
  • Date
    2020-10-23

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 and up to 60% in foreign issuers. Portfolio is able to invest up to 50% in BBB and is unable to purchase a bond rated below BBB-.

Fund Facts

September 30, 2020
Inception Date December 28, 2011
Currency CAD
Fund AUM $67.4 Million
NAVPU $11.11
Management Fee 1.15%
MER as of June 30, 2020 (unaudited) 1.43%
Minimum Initial Investment $1,000
Minimum Subsequent Investment $100
Liquidity Daily
RRSP Eligible Yes

Portfolio Characteristics

Number of Securities 88
Number of Issuers 47
Average Term to Maturity (Years) 6.4
Average Duration (Years) 4.6
Average Coupon 3.6%
Yield to Maturity 1.9%
Current Yield 3.1%
Average Credit Quality A

Credit Quality Breakdown

The NAVs posted are post-distribution.

Top 10 Holdings

September 30, 2020
Security % of fund Rating
The Walt Disney Company 3.057% Mar 30, 2027 6.7% A-
Apple Inc. 2.513% Aug 19, 2024 5.6% AA+
TransCanada Pipelines 3.8% Apr 5, 2027 4.8% BBB+
RBC Dep Note 1.968% Mar 2, 2022 4.3% AA
Molson Coors International LP 3.44% Jul 15, 2026 3.0% BBB-
Hwy 407 6.47% July 27, 2029 2.9% A
Pembina Pipeline Corp 3.31% Feb 1, 2030 2.8% BBB
Nav Canada 7.40% Jun 1, 2027 2.7% AA
UniCredit S.p.A Sr Pref 3.75% Apr 12, 2022 (USD) 144A 2.6% BBB
Heathrow Funding Limited 3.25% May 21, 2025 2.5% BBB+
Total 37.9%

Geographic Breakdown

Inception Date

December 28, 2011

As of Date

September 30, 2020

Compound Returns

  • 1 Month
    0.0%
  • 3 Months
    0.9%
  • YTD
    7.9%
  • 1 Year
    7.7%
  • 3 Year
    (Annualized)
    3.6%
  • 5 Year
    (Annualized)
    2.4%
  • Since Inception
    (Annualized)
    2.7%

Calendar Year Returns

Distributions

Distribution Frequency: Quarterly
Most Recent Distribution per Unit: $0.0620
12-Month Trailing Distribution Yield: 1.9%
Next Record Date: December 17, 2020
Next Distribution Date: December 18, 2020

Quarterly Distributions

Record Date Distribution Date
March 26, 2020 March 27, 2020
June 25, 2020 June 26, 2020
September 24, 2020 September 25, 2020
December 17, 2020 December 18, 2020
Distributions ($)/Unit3 YTD* 2019 2018 2017 2016 2015 2014 2013 2012
Total Distributions 0.1743 0.1657 0.1372 0.0862 0.0748 0.2416 0.2087 0.1153 0.1374
Interest 0.1657 0.1372 0.0869 0.0754 0.1586 0.2097 0.1153 0.1325
Dividends
Capital Gains 0.0838 0.0049
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.

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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. 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.