LYZ815 A
Lysander-Canso
U.S. Short Term and Floating Rate Fund (USD)
Series A

Series

  • Asset Class
    Fixed Income
  • Category
    Global Fixed Income
  • Risk Rating
    Low
  • Number of Securities
    71
  • Yield to Maturity (%)
    1.7%
  • Current Yield
    2.0%
  • Average Duration
    1.3 Years
  • Average Credit Quality
    A

NAV

  • USD $ NAV
    9.93
  • Change NAV $
    0.01
  • Change NAV %
    0.10
  • Date
    2021-12-07

Objectives

The Fund’s objective is to provide total return by investing primarily in investments in U.S. dollar denominated 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 either denominated in U.S. dollars or hedged to U.S.
dollars with a minimum of 75% of the portfolio in BBB or higher.

Fund Facts

October 31, 2021
Inception Date May 12, 2021
Currency USD
Fund AUM $14.6 Million
NAVPU $9.96
Management Fee 1.05%
MER as of June 30, 2021 (unaudited) N/A
Minimum Initial Investment $1,000
Minimum Subsequent Investment $100
Liquidity Daily
RRSP Eligible Yes

Portfolio Characteristics

Number of Securities 71
Number of Issuers 37
Average Term to Maturity (Years) 3.3
Average Duration (Years) 1.3
Average Coupon (%) 2.2%
Yield to Maturity (%) 1.7%
Current Yield (%) 2.0%
Average Credit Quality A

Credit Quality Breakdown

The NAVs posted are post-distribution.

Top 10 Holdings

October 31, 2021
Security % of fund Rating
JP Morgan Chase FRN (USD) (Q LIBOR+85) Jan 10, 2025 6.9% AA-
US Dollar 6.8% NA
Goldman Sachs FRN May 15, 2026 (USD)(Q LIBOR +117) 5.2% A+
BNS FRN Aug 4, 2026 (CORRA +54) 4.7% AA-
CIBC FRN Jul 15, 2026 (CORRA +58) 4.7% AA-
Bank of America Corp FRN Oct 24, 2024 (USD)(SOFR+73) 4.3% AA-
Met Life Global Funding I FRN Jan 7, 2024(USD)(SOFR +32)144A 3.7% AA-
New York Life Global FDG FRN Apr 26, 2024 (USD) (SOFR+31) 3.7% AAA
Canada Housing Trust FRN Sep 15, 2023 (Q CDOR -6) 3.6% AAA
Morgan Stanley FRN May 8, 2023/2024 (USD) (Q LIBOR +122) 3.6% A+
Total 47.2%

Geographic Breakdown

Performance data is not available as Series A has not been offered under a prospectus for 12 consecutive months.

Distributions

Distribution Frequency: Quarterly
Most Recent Distribution per Unit: $0.0121
12-Month Trailing Distribution Yield: 0.2%
Next Record Date: December 16, 2021
Next Distribution Date: December 17, 2021

Quarterly Distributions

Record Date Distribution Date
March 25, 2021 March 26, 2021
June 24, 2021 June 25, 2021
September 23, 2021 September 24, 2021
December 16, 2021 December 17, 2021
Distributions ($)/Unit3 YTD*
Total Distributions 0.0169
Interest
Dividends
Capital Gains
Withholding Tax

*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 U.S. 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. 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.

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