Lysander-Canso All Country Long/Short Equity Fund – Series A
- Fund Code: LYZ531A
- Portfolio Manager: Canso Investment Counsel Ltd.
- As of: December 31, 2023
- Asset Class: Equity
- CIFSC Category: Alternative Equity Focused
- Benchmark: Canadian Government Bonds 3 Month Bill + 3% per annum; floor of 4%1
Investment Focus
Invests in equity securities of companies having a broad range of capitalizations from anywhere in the world both long and short. Long positions can be leveraged up to 150% of fund Net Asset Value.
Risk Tolerance
Why Invest in this Fund?
Triasima Portfolio Management is a Canadian investment management firm founded by partners André R. Chabot, Scott Collins, and Redouane Khireddine. With a long-term track record since 1998, the firm serves institutional, sub-advisory, and individual clients. It is wholly owned by its employees and directors, and is completely independent from any other company or organization. Triasima is known for its unique Three-Pillar Approach™, a rigorous, yet innovative, investment process that remains consistent under all market conditions.
- Alternative Equity Fund – The Fund is absolute return focused with independent long and short equity positions that diversify from traditional long only equities.
- Unique and Proven Investment Process – The Three-Pillar Approach™ brings together fundamental, quantitative and trend analysis in a process of checks and balances, with each pillar reinforcing the other two.
- Geographic Diversification – There is no minimum or maximum weighing in geographical distribution or in distribution between emerging and advanced countries, thereby the Fund is not limited by geographical considerations in its investment opportunities.
Compound Returns – Series A
1 Month | 3 Months | YTD | 1 Year | 3 Year (Annualized) |
Since Inception (Annualized) |
---|---|---|---|---|---|
-2.1% | 1.0% | -5.4% | -5.4% | -1.0% | 1.3% |
Fund Facts
Inception Date | May 11, 2020 |
Currency | CAD |
Fund Net AUM | $2.2 Million |
Total Long AUM | $3.2 Million |
Total Short AUM | -$1.0 Million |
NAVPU | $10.50 |
Management Fee | 1.90% |
Performance Fee | 20.00% |
MER as of December 31, 2023 | 2.42% |
Minimum Initial Investment | $500 |
Minimum Subsequent Investment | $100 |
Liquidity | Daily |
RSP Eligible | Yes |
Calendar Year Returns – Series A
Top 10 Holdings (Short)
Security | % of Fund |
---|---|
EXTRA SPACE STORAGE INC. | -2.6% |
TECNOGLASS INC. | -2.2% |
Sociedad Quimica y Minera | -1.8% |
FUTURE PLC | -1.7% |
FIRST SOLAR INC. | -1.6% |
Gibson Energy Inc. | -1.6% |
SILICON LABORATORIES INC. | -1.6% |
Metro Inc. | -1.5% |
VIEMED HEALTHCARE INC. | -1.5% |
IRIDIUM COMMUNICATIO NS INC. | -1.5% |
Total | -17.6% |
Top 10 Holdings (Long)
Security | % of Fund |
---|---|
Toyota Credit Canada Inc. 2.11% Feb 26, 2025 | 8.8% |
Manulife Bank of Canada Feb 26, 2026 | 6.5% |
Toronto Hydro Corp 2.52% Aug 25 2026 | 6.3% |
Vertex Pharmaceuticals Inc | 4.6% |
FOMENTO ECONOMICO ME XICANO SAB DE CV | 4.0% |
RBC Dep Note 2.352% Jul 2, 2024 | 3.9% |
TEEKAY TANK LTD CLASS A | 3.9% |
McKesson Corp | 3.7% |
CROWDSTRIKE HOLDINGS INC. | 3.6% |
ZSCALER INC. | 3.6% |
Total | 48.9% |
Portfolio Characteristics
Number of Securities (Long) | 45 |
Number of Securities (Short) | 32 |
Dividend Yield (%) | 0.6% |
Cash Weighting | 22.7% |
Geographic Breakdown
Canada | 37.6% |
USA | 48.7% |
South America | 6.6% |
Europe | 2.7% |
Asia | 7.0% |
Other | -2.6% |
Distributions
- Distribution Frequency: Annually
- Most Recent Distribution per Unit: $0.0000
- 12-Month Trailing Distribution Yield: 0.0%
- Next Record Date: December 19, 2024
- Next Distribution Date: December 20, 2024
Distributions ($)/Unit2 | YTD* | 2022 | 2021 | 2020 |
---|---|---|---|---|
Total Distributions | – | – | – | – |
Interest | – | – | – | – |
Dividends | – | – | – | – |
Capital Gains | – | – | – | – |
Withholding Tax | – | – | – | – |
Lysander Funds Limited is the investment fund manager of Lysander-Canso All Country Long/Short Equity 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. Please read the prospectus before investing. Commissions, trailing commissions, management fees and expenses all may be associated with investment funds. This Fund is an alternative mutual fund. It has the ability to invest in asset classes or use investment strategies that are not permitted for other types of mutual funds. The specific strategies that differentiate this Fund from other types of mutual funds include: increased use of derivatives for non-hedging purposes; increased ability to sell securities short; and the ability to borrow cash to use for investment purposes. While these strategies will be used in accordance with the Fund’s investment objectives and strategies, during certain market conditions they may accelerate the pace at which your investment decreases in value.
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. Investment funds are not guaranteed or insured, 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. 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.
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