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
    89
  • Yield to Maturity
    2.9%
  • Current Yield
    3.4%
  • Average Duration
    2.7 Years
  • Average Credit Quality
    BBB+

NAV

  • CDN $ NAV
    10.32
  • Change NAV $
    0.01
  • Change NAV %
    0.10
  • Date
    2020-10-23

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 70% of the portfolio in BBB or higher.

Fund Facts

September 30, 2020
Inception Date September 18, 2013
Currency CAD
Fund AUM $126.6 Million
NAVPU $10.26
Management Fee 1.05%
MER as of June 30, 2020 (unaudited) 1.32%
Minimum Initial Investment $1,000
Minimum Subsequent Investment $100
Liquidity Daily
RRSP Eligible Yes

Portfolio Characteristics

Number of Securities 89
Number of Issuers 45
Average Term to Maturity (Years) 4.4
Average Duration (Years) 2.7
Average Coupon 4.0%
Yield to Maturity 2.9%
Current Yield 3.4%
Average Credit Quality BBB+

Credit Quality Breakdown

The NAVs posted are post-distribution.

Top 10 Holdings

September 30, 2020
Security % of fund Rating
MetLife Global Funding I FRN Sep 27, 2022 (Q CDOR +50) 6.1% AA-
Ontario FRN Aug 21, 2023 Q CDOR +5.0 5.6% AA-
VW Credit Canada Inc. FRN Sep 27, 2021(Q CDOR +68) 4.8% BBB+
Apple Inc. 2.513% Aug 19, 2024 4.5% AA+
The Walt Disney Company 3.057% Mar 30, 2027 4.2% A-
TD Dep Note 1.994% Mar 23 2022 3.9% AA+
RBC Dep Note 1.968% Mar 2, 2022 3.9% AA
SNC Lavalin FRN Mar 2, 2021 (Q CDOR + 54) 3.8% BB+
Natwest Group PLC FRN May 15, 2023 (Q LIBOR + 147) (USD) 3.4% BBB
Honda Canada Finance Inc FRN Sept 13, 2021 (Q CDOR +39) 3.3% A-
Total 43.5%

Geographic Breakdown

Inception Date

September 18, 2013

As of Date

September 30, 2020

Compound Returns

  • 1 Month
    0.0%
  • 3 Months
    1.7%
  • YTD
    3.1%
  • 1 Year
    3.9%
  • 3 Year
    (Annualized)
    2.1%
  • 5 Year
    (Annualized)
    2.0%
  • Since Inception
    (Annualized)
    1.9%

Calendar Year Returns

Distributions

Distribution Frequency: Quarterly
Most Recent Distribution per Unit: $0.0084
12-Month Trailing Distribution Yield: 1.6%
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
Total Distributions 0.1217 0.2104 0.1337 0.0875 0.1604 0.1555 0.2092 0.0171
Interest 0.2104 0.1337 0.0794 0.1609 0.1414 0.2098 0.0171
Dividends
Capital Gains 0.0085 0.0000 0.0144
Withholding Tax (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. 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.