Lysander-Canso Corporate Value Bond Fund – Series F
- Fund Code: LYZ801F
- Portfolio Manager: Canso Investment Counsel
- As of: May 31, 2022
- Fund Category: Fixed Income
- Benchmark: FTSE Canada All Corporate Bond Index1
The fund employs a deep value investment strategy with an unrestricted mandate both geographically and by credit quality. It invests primarily in fixed income securities, but can occasionally invest in equities.
Why Invest In This Fund
Established in 1997, Canso is an independent firm focused on bottom up security selection. Proprietary research developed over multiple market cycles guides the investment of approximately $36 billion in AUM.
Each security is assessed on its own merits using bottom-up, fundamental research. Canso uses its proprietary Maximum Loss grade, where the max loss quantifies recovery value in the event of a default. The greater the potential downside, the lower the portfolio weight. Canso believes in concentrating their best ideas and having high conviction portfolios with limited holdings.
This independent credit expertise enables Canso to buy securities when they are out of favour and priced at a discount to their intrinsic value.
- Long Term Capital Growth – Manager is focused on long term capital growth, with returns consisting of income and some capital gains primarily through investing in corporate bonds of developed markets.
- Adaptable to Market Conditions – Portfolio is unconstrained from both a duration and credit perspective, allowing the manager the flexibility to position the portfolio according to market conditions. Mandate is benchmark agnostic.
- Proven Management Expertise – Large investment team with experienced credit specialists with an expertise in determining default risks and recovery values of issuers to identify corporate bond opportunities. The continuity of the team has contributed to the successful management of investor portfolios over different market cycles.
|Inception Date||December 23, 2011|
|MER as of December 31, 2021||0.92%|
Calendar Year Returns – Series F
|Number of Securities||214|
|Number of Issuers||93|
|Average Term to Maturity (Years)||4.5|
|Average Duration (Years)||2.0|
|Average Coupon (%)||3.1%|
|Yield to Maturity (%)||4.7%|
|Current Yield (%)||3.6%|
|Average Credit Quality||BBB+|
- Distribution Frequency: Quarterly