Lysander-Canso Short Term & Floating Rate Fund – Series A
- Fund Code: LYZ805A
- Portfolio Manager: Canso Investment Counsel
- As of: May 31, 2022
- Fund Category: Fixed Income
- Benchmark: FTSE Canada Short Term Overall Bond Index1
The fund invests primarily in short term fixed income and floating rate debt securities of Canadian and foreign issuers with a minimum of 75% of the portfolio in BBB or higher.
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 and successful investment management experience enables Canso to buy securities when they are out of favour and priced at a discount to their intrinsic value.
- Short Term Fixed Income Solution – An investment grade portfolio of low duration corporate bonds with the ability to include up to 25% in non investment grade yield enhancements.
- Low Sensitivity to Interest Rates – The manager seeks to maximize return while limiting interest risk by investing in primarily short term and floating rate debt securities.
- Proven Management Expertise – Large and 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||September 18, 2013|
|MER as of December 31, 2021||1.26%|
Calendar Year Returns – Series A
|Number of Securities||84|
|Number of Issuers||54|
|Average Term to Maturity (Years)||3.2|
|Average Duration (Years)||1.2|
|Average Coupon (%)||2.0%|
|Yield to Maturity (%)||3.8%|
|Current Yield (%)||2.5%|
|Average Credit Quality||A|
- Distribution Frequency: Quarterly