Terms of use

By accessing Lysander’s website or any of its pages, or having correspondence with an email address that ends in (a “Lysander email”), you understand, accept and agree to the terms set out herein. If you do not accept and agree, do not access Lysander’s website or any of its pages, or have further correspondence with a Lysander email.

The information posted on Lysander’s website or communicated through a Lysander email is not an offer to sell or a solicitation to buy any security nor does it constitute an offer by Lysander to provide investment advisory services. Contents on this website or in communications from a Lysander email is provided on an “as is” basis and is subject to change and periodic revision at any time. Lysander, its affiliates, the directors, officers and employees of the foregoing, or content providers will not be responsible in any manner for direct, indirect, special or consequential damages howsoever caused, in connection with or arising out of the use of Lysander’s website or communications from a Lysander email. Investors must contact their own Investment Professionals for any additional information.

No investment recommendations or professional advice

The information and materials on Lysander’s website or in communications from a Lysander email are posted for informational purposes only. They are not intended as investment, financial, legal, accounting, tax or other advice and should not be relied upon in that regard. All information herein with respect to any investment fund is qualified in its entirety by the more detailed information contained in each fund’s offering documents. Each potential investor should read the offering documents in their entirety and should carefully consider the risk warnings and disclosures set out therein before making an investment decision.

The information and materials on Lysander’s website or communications from a Lysander email should not be considered a recommendation to buy, sell or short a particular security. Any specific securities discussed are intended as an illustration of a portfolio manager’s security selection process. The funds may sell these securities at any time, or purchase securities that have previously been sold. The securities or short positions may increase or decrease in value after the date hereof, and the funds may accordingly gain or lose money on the investment in the securities. The statements by the portfolio managers in their commentaries are intended to illustrate their approach in managing the funds, and should not be relied upon for any other purpose.

Non-Canadian Residents

Lysander’s website is solely for investors or prospective investors resident in Canada.

Lysander and Canso Funds

Lysander Funds Limited is the investment fund manager of the Lysander Funds.  Canso Fund Management Ltd. is the investment fund manager of the Canso Funds.  Employees and personnel are acting on behalf of Lysander Funds Limited in respect of the Lysander Funds and on behalf of Canso Fund Management Ltd. in respect of the Canso Funds.

Purchases in the Canso Funds or Lysander Funds can only be made through an Investment Professional on the terms in a fund’s offering memorandum, prospectus or simplified prospectus by qualified investors. For example, only accredited investors may invest in funds sold via an offering memorandum.  Each purchaser of units in a fund may have statutory or contractual rights of action. The information in these documents are subject to change without notice.

Commissions, trailing commissions, management fees and expenses all may be associated with mutual fund investments. Please read the applicable offering memorandum or prospectus before investing.

The indicated rates of return are based on calculated net asset values per unit, which are net of management fees, operating expenses, any applicable performance fees and applicable taxes. These returns include changes in unit value and reinvestment of all distributions and do not take into account certain fees such as redemption fees or optional charges or income taxes payable by any securityholder that would have reduced returns.  Mutual fund securities are not covered by the Canada Deposit Insurance Corporation or by any other government deposit insurer. Mutual funds or pooled funds are not guaranteed; their values change frequently and past performance may not be repeated.

You will usually pay brokerage fees to your dealer if you purchase or sell units of funds listed on the Toronto Stock Exchange (TSX). If the units are purchased or sold on the TSX, investors may pay more than the current net asset value when buying units of these investment funds and may receive less than the current net asset value when selling them.

There are ongoing fees and expenses associated with owning units of closed end funds.  These investment funds must prepare disclosure documents that contain key information about the funds.  You can find more detailed information about the funds in these documents.

Forward Looking Statements

Lysander’s website or communications from a Lysander email may contain forward-looking statements. Statements concerning a Fund’s objectives, goals, strategies, intentions, plans, beliefs, expectations and estimates, and the business, operations, financial performance and condition of the Fund are forward-looking statements.  The words “believe”, “expect”, “anticipate”, “estimate”, “intend”, “aims”, “may”, “will”, “would” and similar expressions and the negative of such expressions are intended to identify forward-looking statements, although not all forward-looking statements contain these identifying words. These forward looking statements are subject to important risks and uncertainties that could cause actual results to differ materially from current expectations. While Lysander considers these risks and uncertainties to be reasonable based on information currently available, they may prove to be incorrect. The content on Lysander’s website or communications from a Lysander email is subject to change without notice.  Information given on a particular date may no longer be current when Lysander’s website or the communication is accessed on a later date.

Links to Other Sites

Links to non-Lysander websites are provided solely as pointers to information on topics that may be useful to users of the Lysander website or communications from a Lysander email. Lysander does not control the content on such non-Lysander websites. Lysander makes no warranties, either express or implied, concerning the content of such websites, including the accuracy, completeness, reliability or suitability thereof for any particular purpose, nor do we warrant that such website or content is free from any claims of copyright, trademark or other infringement of the rights of third parties or that such website or content is free of viruses or other contamination. Lysander does not guarantee the authenticity of documents on the Internet. Links to non-Lysander sites do not imply any endorsement of or responsibility for the opinions, ideas, products, information or services offered at such sites, or any representation regarding the content at such sites.

Other websites which may provide access to Lysander’s site by hypertext links are entirely independent of Lysander’s site. Any direction by a third party to Lysander’s site shall not, in any manner, be construed as an endorsement by Lysander of such party’s website, products or services.

Social Media

Lysander’s social media accounts may follow other users, share or provide hyperlinks to third-party content and “like/favourite” third-party content. Doing so is intended to provide additional perspective and should not be construed as an endorsement for any individuals, services, products, guidance or points of view. Comments and opinions posted by users are the responsibility of the person who posts them. Lysander does not endorse or guarantee the accuracy of the content posted by others. Any opinions expressed by our followers are those of the persons submitting the comments and do not necessarily represent the views of Lysander or its affiliates.

Lysander reserves the right to block any follower who posts content that is deemed inappropriate or offensive or that constitutes a testimonial, advice, recommendation or advertisement for securities, products or services or that is promotional in nature. We also reserve the right to block followers whose social media pages contain offensive or inappropriate content or serve as promotional sites.

Trade-marks and Copyrights

Certain names, words, titles, phrases, logos, icons, graphics or designs on the pages of Lysander’s website or in communications from a Lysander email may constitute trade names, registered or unregistered trade-marks or service marks of Lysander Funds Limited or other third parties.

Governing Law

Your access to and terms of use of the Lysander website, is governed by the laws of the Ontario, Canada.


Information included in Lysander emails are intended for the use of the individual(s) or entities named and should be treated as privileged, confidential, private and exempt from disclosure under any applicable law. If the reader is not the intended recipient, any dissemination, distribution, copying or use of any kind of this communication is strictly prohibited. If you have received an email from Lysander in error, please notify the sender immediately and destroy all copies of the email.

Disclaimers for Lysander Funds with FundGrade A+ Awards

FundGrade A+ Awards

The following Lysander Funds won the FundGrade A+ Awards for 2018:

Lysander-Canso Corporate Value Bond Fund* (fund code LYZ 801)

*Based on performance during the period from January 31, 2012 to December 31, 2018, for funds in the CIFSC Category of “global fixed income” (51 funds in the category in 2018)

Fundata is a leading provider of market and investment funds data to the Canadian financial services industry and business media. The Fund-Grade A+® rating identifies funds that have consistently demonstrated the best risk-adjusted returns throughout an entire calendar year.

FundGrade A+® is used with permission from Fundata Canada Inc., all rights reserved. The annual FundGrade A+® Awards are presented by Fundata Canada Inc. to recognize the “best of the best” among Canadian investment funds. The FundGrade A+® calculation is supplemental to the monthly FundGrade ratings and is calculated at the end of each calendar year. The FundGrade rating system evaluates funds based on their risk-adjusted performance, measured by Sharpe Ratio, Sortino Ratio, and Information Ratio. The score for each ratio is calculated individually, covering all time periods from 2 to 10 years. The scores are then weighted equally in calculating a monthly FundGrade. The top 10% of funds earn an A Grade; the next 20% of funds earn a B Grade; the next 40% of funds earn a C Grade; the next 20% of funds receive a D Grade; and the lowest 10% of funds receive an E Grade. To be eligible, a fund must have received a FundGrade rating every month in the previous year. The FundGrade A+® uses a GPA-style calculation, where each monthly FundGrade from “A” to “E” receives a score from 4 to 0, respectively. A fund’s average score for the year determines its GPA. Any fund with a GPA of 3.5 or greater is awarded a FundGrade A+® Award.

For more information, see Although Fundata makes every effort to ensure the accuracy and reliability of the data contained herein, the accuracy is not guaranteed by Fundata.

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, their values change frequently and past performance may not be repeated.

Disclaimers for the use of Indices

ALL INDICES except S&P/TSX & S&P 500 are Copyright © 2015 FTSE TMX Global Debt Capital Markets Inc. All rights reserved. FTSE®” is a trade mark of the London Stock Exchange Group companies and is used under licence. “TMX” is a trade mark of TSX Inc. and is used under licence. All rights in the FTSE TMX Global Debt Capital Markets Inc. indices and/or FTSE TMX Global Debt Capital Markets Inc.’s ratings vest in FTSE TMX Global Debt Capital Markets Inc and/or its licensors. Copyright © Merrill Lynch. All rights reserved. Copyright © 2013 MSCI Inc. All rights reserved. Copy © TSX Inc. All rights reserved. MCWX – © 1996-2018 Bourse de Montréal Inc. Cboe Options Exchange (Cboe). ©2017 Cboe Exchange, Inc. All rights reserved.