The Fund’s objective is to provide income and capital growth by investing in fixed income, floating rate, convertible, preferred equity, and common equity securities of corporations anywhere in the world.
The fund invests primarily in fixed income securities of small and mid-cap companies with the tactical inclusion of equity investments. It is unconstrained both geographically and by credit quality.
|Series Inception Date||December 30, 2016|
|Fund AUM||$103.2 Million|
|MER (As of June 30, 2020 - unaudited)||1.66%|
|Minimum Initial Investment||$1,000|
|Minimum Subsequent Investment||$100|
|Number of Securities||59|
|Number of Issuers||38|
|Average Term to Maturity (Years)||2.5|
|Average Duration (Years)||2.0|
|Average Coupon (%)||5.9%|
|Yield to Maturity (%)||7.5%|
|Current Yield (%)||6.7%|
|Average Credit Quality||B+|
|Average Bond Price||$93.38|
▲The NAVs posted are post-distribution.
|Security||% of fund||Rating|
|Millar Western 9.50% June 20, 2023||6.2%||B-|
|RockPoint Gas Storage 7.00% March 31, 2023||4.5%||B|
|Tidewater Midstream & Infrastructure 6.75% December 19, 2022||4.1%||NR|
|Frontier Communications 8.5% April 1, 2026||3.8%||NR|
|Optiva Inc 9.75% Jul 20, 2025||3.4%||NR|
|Petsmart L+300 02/03/2022||3.2%||B|
|Global Ship Lease Inc 9.875% November 15, 2022||3.1%||B|
|Kelt Exploration 5% May 31, 2021||3.1%||NR|
|Montage Resources Corporation 8.875 July 15, 2023||3.1%||B-|
|Russel Metals Inc 6% April 19, 2022||2.7%||B+|
|Distribution Frequency: Quarterly|
|Most Recent Distribution per Unit: $0.0468|
|12-Month Trailing Distribution Yield: 5.6%|
|Next Record Date: December 17, 2020|
|Next Distribution Date: December 18, 2020|
|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|
* 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-Fulcra Corporate Securities 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, their values change frequently and past performance may not be repeated. 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 trrademark of Lysander Funds Limited.