LYZ805 A
Lysander-Canso
Short Term & Floating Rate Fund
Series A

Series

  • Asset Class
    Fixed Income
  • Category
    Canadian Short-Term Fixed Income
  • Risk Rating
    Low
  • Number of Securities
    100
  • Yield to Maturity (%)
    1.4%
  • Current Yield
    1.9%
  • Average Duration
    1.3 Years
  • Average Credit Quality
    A-

NAV

  • CAD $ NAV
    10.54
  • Change NAV $
    0.00
  • Change NAV %
    0.00
  • Date
    2021-07-26

Objectives

The Fund’s objective is to provide total returns consisting principally of interest income by investing primarily in short term fixed income and floating rate debt securities of Canadian and foreign issuers.

Investment Focus

The fund invests primarily in short term fixed income and floating rate debt securities of Canadian and foreign issuers with a minimum of 75% of the portfolio in BBB or higher.

Fund Facts

June 30, 2021
Inception Date September 18, 2013
Currency CAD
Fund AUM $376.3 Million
NAVPU $10.53
Management Fee 1.05%
MER as of December 31, 2020 1.30%
Minimum Initial Investment $1,000
Minimum Subsequent Investment $100
Liquidity Daily
RRSP Eligible Yes

Portfolio Characteristics

Number of Securities 100
Number of Issuers 57
Average Term to Maturity (Years) 3.5
Average Duration (Years) 1.3
Average Coupon (%) 2.2%
Yield to Maturity (%) 1.4%
Current Yield (%) 1.9%
Average Credit Quality A-

Credit Quality Breakdown

The NAVs posted are post-distribution.

Top 10 Holdings

June 30, 2021
Security % of fund Rating
Canadian Dollar 6.9% NA
Canada Housing Trust FRN Sep 15, 2023 (Q CDOR -6) 4.9% AAA
TransCanada Pipelines FRN Jun 9, 2024 (Q CDOR +29) 4.5% BBB+
Bank of America Corp FRN Sep 15, 2027 (Q CDOR +60) 4.0% A
CIBC FRN Jun 10, 2024 (CDOR +23) 3.7% A
Morgan Stanley FRN Q CDOR +33 Mar 21, 2025 3.5% A
MetLife Global Funding I FRN Sep 27, 2022 (Q CDOR +50) 3.4% AA-
TD CB FRN Jun 28, 2023 (3M CDOR + 31) 3.3% AAA
Honda Canada Finance Inc. FRN Feb 26, 2024 (Q CDOR +9) 3.3% A-
Goldman Sachs FRN Apr 29, 2025 (CDOR +37) 3.1% A
Total 40.6%

Geographic Breakdown

Inception Date

September 18, 2013

As of Date

June 30, 2021

Compound Returns

  • 1 Month
    0.2%
  • 3 Months
    0.4%
  • YTD
    0.6%
  • 1 Year
    5.5%
  • 3 Year
    (Annualized)
    3.1%
  • 5 Year
    (Annualized)
    2.5%
  • Since Inception
    (Annualized)
    2.2%

Calendar Year Returns

Distributions

Distribution Frequency: Quarterly
Most Recent Distribution per Unit: $0.0000
12-Month Trailing Distribution Yield: 1.1%
Next Record Date: September 23, 2021
Next Distribution Date: September 24, 2021

Quarterly Distributions

Record Date Distribution Date
June 24, 2021 June 25, 2021
September 23, 2021 September 24, 2021
December 16, 2021 December 17, 2021
Distributions ($)/Unit3 YTD* 2020 2019 2018 2017 2016 2015 2014 2013
Total Distributions 0.0266 0.2066 0.2104 0.1337 0.0875 0.1604 0.1555 0.2092 0.0171
Interest 0.1957 0.2104 0.1337 0.0794 0.1609 0.1414 0.2098 0.0171
Dividends 0.0001
Capital Gains 0.0108 0.0085 0.0000 0.0144
Withholding Tax 0.0000 (0.0004) (0.0005) (0.0003) (0.0006)

*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 Short Term and Floating Rate 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. 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.