Overview
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Asset ClassFixed Income
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CategoryAlternative Credit Focused
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Risk RatingLow to Medium
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Number of Securities (Long/Short)115/3
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Yield to Maturity6.5%
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Current Yield4.9%
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Average Duration2.4 Years
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Average Credit Quality2A-
Objectives
The Fund’s investment objective is to (i) maximize total returns for unitholders while reducing risk; and (ii) provide unitholders with monthly cash distributions, by taking long and short positions primarily in corporate bonds and other income securities.
Investment Focus
The Canso Credit Income Fund is a closed-end fund which seeks to maximize total returns for unit holders while reducing risk and provide unitholders with monthly cash distributions, by taking long and short positions in a portfolio of primarily corporate bonds and other income securities.
Fund Facts
April 30, 2025Inception Date | July 16, 2010 |
Currency | CAD |
Fund Net AUM | $146.4 Million |
Total Long AUM | $171.9 Million |
Total Short AUM | -$25.5 Million |
NAVPU | $17.88 |
Management Fee | 0.75% |
Performance Fee | 20.00% |
MER as of December 31, 2024 | 2.28% |
RSP Eligible | Yes |
Portfolio Characteristics
Number of Securities (Long) | 115 |
Number of Securities (Short) | 3 |
Number of Issuers | 53 |
Average Term to Maturity (Years) | 6.1 |
Average Duration (Years) | 2.4 |
Yield to Maturity (%) | 6.5% |
Current Yield (%) | 4.9% |
Cash Weighting | 0.8% |
Average Credit Quality (long only)2 | A- |
Credit Quality Breakdown (Long only)
AAA | 29.4% |
AA | 1.3% |
A | 17.5% |
BBB | 24.4% |
BB | 7.9% |
B & Lower | 13.8% |
Not Rated | 5.5% |
Portfolio
Top 10 Holdings
Security | % of Fund | Rating |
---|---|---|
Canada 1.5% Dec 1, 2031 | 11.2% | AAA |
Air Canada 4.625% Aug 15, 2029 | 5.7% | BB+ |
Manulife Financial Corp (AT1) 4.1% Mar 19, 2027/2082 | 5.5% | BBB+ |
Pembina Pipeline Corp 4.75% Mar 26, 2048 | 4.6% | BBB |
Strait Crossing Dev. Inc. (amort) 6.17% Sep 15, 2031 | 4.4% | BBB |
Canada RRB 4.25% Dec 1, 2026 | 4.2% | AAA |
GE Capital Canada 5.73% Oct 22, 2037 | 4.1% | A- |
Canada RRB 4.25% Dec 1, 2026 | 3.7% | AAA |
FLINT Corp. 8% Oct 14, 2027 | 3.3% | Not Rated |
RBC FRN Jun 29, 2085 (SOFR+44.911)(USD) | 3.2% | A- |
Total | 49.9% |
Geographic Breakdown
Canada | 80.5% |
USA | 15.4% |
South America | 1.3% |
Europe | 2.8% |
Performance
Inception Date
July 16, 2010
As of Date
April 30, 2025
Compound Returns
1 Month | 3 Months | YTD | 1 Year | 3 Year (Annualized) |
5 Year (Annualized) |
10 Year (Annualized) |
Since Inception (Annualized) |
0.5% | -1.3% | -0.7% | 8.2% | 6.0% | 13.2% | 7.7% | 8.4% |
Calendar Year Returns
Distributions
Distributions
Distribution Frequency | Monthly |
Most Recent Distribution per Unit | $0.0417 |
12-Month Trailing Distribution Yield | 2.8% |
Next Record Date | May 30, 2025 |
Next Distribution Date | June 10, 2025 |
Monthly Distributions
Record Date | Distribution Date | Distribution Rate/Unit |
---|---|---|
January 31, 2025 | February 10, 2025 | $0.0417 |
February 28, 2025 | March 10, 2025 | $0.0417 |
March 31, 2025 | April 10, 2025 | $0.0417 |
April 30, 2025 | May 12, 2025 | $0.0417 |
May 30, 2025 | June 10, 2025 | $0.0417 |
June 27, 2024 | July 10, 2025 | $0.0417 |
July 31, 2025 | August 11, 2025 | $0.0417 |
August 29, 2025 | September 10, 2025 | $0.0417 |
September 29, 2025 | October 10, 2025 | $0.0417 |
October 31, 2025 | November 10, 2025 | $0.0417 |
November 28, 2025 | December 10, 2025 | $0.0417 |
December 31, 2025 | January 12, 2026 | $0.0417 |