The Fund’s objective is to achieve long term capital growth of returns consisting of income and some capital gains primarily through investments in U.S. debt and money market securities either denominated in U.S. dollars or hedged to U.S. dollars using forward currency contracts.
The Fund invests primarily in U.S. debt and money market securities either denominated in U.S. dollars or hedged to U.S. dollars and is unrestricted across all credits.
|Series Inception Date||December 30, 2014|
|Fund AUM||$36.2 Million|
|MER (As of June 30, 2019 - unaudited)||1.58%|
|Minimum Initial Investment||$1,000|
|Minimum Subsequent Investment||$100|
|Number of Securities||62|
|Number of Issuers||32|
|Average Term to Maturity (Years)||4.6|
|Average Duration (Years)||1.1|
|Average Coupon (%)||3.8%|
|Yield to Maturity (%)||3.3%|
|Current Yield (%)||3.7%|
|Average Credit Quality2||BBB+|
▲The NAVs posted are post-distribution.
|Security||% of fund||Rating|
|GE Capital Corp FRN May 5, 2026 (USD) (Q LIBOR +38)||8.9%||BBB+|
|Lloyds Bank PLC FRN May 7, 2021 (Q LIBOR+49) (USD)||7.6%||A+|
|TD Bank CB 1.68% Jun 8, 2021||6.8%||AAA|
|Maxar Technologies Inc. 9.75% Dec 31, 2023 (USD)||6.8%||B|
|RBC FRN Feb 1, 2022 (3M LIBOR +73) USD||6.5%||AA|
|JP Morgan Chase FRN (USD) (Q LIBOR +100) Jan 15, 2022/2023||5.4%||A-|
|UniCredit S.p.A Sr Pref 3.75% Apr 12, 2022 (USD) 144A||4.6%||BBB|
|Cigna Corp FRN (Q LIBOR + 65) Sept 17, 2021 (USD) 144A||4.4%||BBB|
|Ford Motor Credit Co LLC FRN Jan 7, 2022 (USD)(Q LIBOR+314)||4.1%||BBB-|
|Goldman Sachs FRN Nov 15, 2021 (USD) (Q LIBOR +117)||3.8%||BBB+|
|Distribution Frequency: Quarterly|
|Most Recent Distribution per Unit: $0.0697|
|12-Month Trailing Distribution Yield: 2.6%|
|Next Record Date: March 26, 2020|
|Next Distribution Date: March 27, 2020|
|Record Date||Distribution Date|
|December 19, 2019||December 20, 2019|
|March 26, 2020||March 27, 2020|
*The final tax character will be determined based on the Fund’s tax year end information
Lysander Funds Limited is the investment fund manager of Lysander-Canso U.S. Credit 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.