Canso Credit Trust - Canso Credit Income Fund
Canso Credit Trust - Canso Credit Income Fund is a closed ended fixed income mutual fund launched by Lysander Funds Limited. The fund is managed by Canso Investment Counsel Ltd. It invests in the fixed income markets of Canada. The fund primarily invests in corporate bonds. It employs fundamental analysis with bottom-up and deep value approach to create its portfolio. The fund benchmarks the perf… Read more
Canso Credit Trust - Canso Credit Income Fund (PBY-UN) - Net Assets
Latest net assets as of June 2025: CA$148.80 Million CAD
Based on the latest financial reports, Canso Credit Trust - Canso Credit Income Fund (PBY-UN) has net assets worth CA$148.80 Million CAD as of June 2025.
Net assets (also known as shareholders' equity or book value) represent the difference between a company's total assets (CA$170.85 Million) and total liabilities (CA$22.05 Million). This figure indicates the residual interest in the assets after deducting liabilities, essentially showing what would remain for shareholders if all assets were liquidated and all debts paid off.
Key Net Assets Metrics
| Metric | Value |
|---|---|
| Current Net Assets | CA$148.80 Million |
| % of Total Assets | 87.09% |
| Annual Growth Rate | -0.11% |
| 5-Year Change | -10.95% |
| 10-Year Change | -42.22% |
| Growth Volatility | 14.13 |
Canso Credit Trust - Canso Credit Income Fund - Net Assets Trend (2010–2023)
This chart illustrates how Canso Credit Trust - Canso Credit Income Fund's net assets have evolved over time, based on quarterly financial data. Explore and compare other companies by net assets.
Annual Net Assets for Canso Credit Trust - Canso Credit Income Fund (2010–2023)
The table below shows the annual net assets of Canso Credit Trust - Canso Credit Income Fund from 2010 to 2023.
| Year | Net Assets | Change |
|---|---|---|
| 2023-12-31 | CA$138.92 Million | -9.76% |
| 2022-12-31 | CA$153.95 Million | -4.11% |
| 2021-12-31 | CA$160.56 Million | +2.52% |
| 2019-12-31 | CA$156.62 Million | +0.39% |
| 2018-12-31 | CA$156.01 Million | -9.92% |
| 2017-12-31 | CA$173.20 Million | -19.85% |
| 2016-12-31 | CA$216.09 Million | -10.21% |
| 2015-12-31 | CA$240.67 Million | -6.20% |
| 2014-12-31 | CA$256.56 Million | +6.70% |
| 2013-12-31 | CA$240.45 Million | +7.00% |
| 2012-12-31 | CA$224.71 Million | +18.15% |
| 2011-12-31 | CA$190.20 Million | +35.01% |
| 2010-12-31 | CA$140.88 Million | -- |
Equity Component Analysis
This analysis shows how different components contribute to Canso Credit Trust - Canso Credit Income Fund's total equity over time. Equity components include common stock, retained earnings, additional paid-in capital, and other elements.
Equity Composition Insights
- Retained earnings have decreased by 0.0% over the analyzed period, potentially due to dividend distributions or operating losses.
Current Equity Component Breakdown (December 2023)
| Component | Amount | Percentage |
|---|---|---|
| Common Stock | CA$138.92 Million | 100.00% |
| Total Equity | CA$138.92 Million | 100.00% |
Canso Credit Trust - Canso Credit Income Fund Competitors by Market Cap
The table below lists competitors of Canso Credit Trust - Canso Credit Income Fund ranked by their market capitalization.
| Company | Market Cap |
|---|---|
|
Resort Savers Inc
PINK:PRCX
|
$101.48K |
|
RSUL4F
SA:RSUL4F
|
$101.50K |
|
Kyivstar Group Ltd. Common Shares
NASDAQ:KYIV
|
$101.53K |
|
Dios Exploration Inc
PINK:DIOSF
|
$101.56K |
|
Infinite Eagle Acquisition Corp. Unit
NASDAQ:IEAGU
|
$101.43K |
|
Business Warrior Corporation
PINK:BZWR
|
$101.39K |
|
Eaton Vance California MIT
NYSE MKT:CEV
|
$101.39K |
|
BREMER LAGERHAUS N
BE:BLH
|
$101.37K |
Equity Growth Attribution
This analysis shows how different factors contributed to changes in Canso Credit Trust - Canso Credit Income Fund's equity between the two most recent reporting periods.
Equity Growth Insights
- From 2022 to 2023, total equity changed from 153,953,286 to 138,923,952, a change of -15,029,334 (-9.8%).
- Net income of 6,110,000 contributed positively to equity growth.
- Dividend payments of 7,295,103 reduced retained earnings.
- Share repurchases of 16,170,728 reduced equity.
- Other factors increased equity by 2,326,497.
Equity Change Factors (2022 to 2023)
| Factor | Impact | Contribution |
|---|---|---|
| Net Income | CA$6.11 Million | +4.4% |
| Dividends Paid | CA$7.30 Million | -5.25% |
| Share Repurchases | CA$16.17 Million | -11.64% |
| Other Changes | CA$2.33 Million | +1.67% |
| Total Change | CA$- | -9.76% |
Book Value vs Market Value Analysis
This analysis compares Canso Credit Trust - Canso Credit Income Fund's book value (net assets) with its market value over time. The relationship between these values can provide insights into investor sentiment and company valuation.
Valuation Insights
- Current price-to-book ratio: 1.06x
- The company is trading above its book value, indicating the market recognizes value beyond its reported assets.
- The price-to-book ratio has decreased from 1.65x to 1.06x over the analyzed period, indicating reduced market premium.
Historical Price-to-Book Ratios
| Date | Book Value per Share | Market Price | P/B Ratio |
|---|---|---|---|
| 2010-12-31 | CA$9.62 | CA$15.86 | x |
| 2011-12-31 | CA$9.86 | CA$15.86 | x |
| 2012-12-31 | CA$10.07 | CA$15.86 | x |
| 2013-12-31 | CA$10.78 | CA$15.86 | x |
| 2014-12-31 | CA$11.51 | CA$15.86 | x |
| 2015-12-31 | CA$10.81 | CA$15.86 | x |
| 2016-12-31 | CA$10.42 | CA$15.86 | x |
| 2017-12-31 | CA$10.20 | CA$15.86 | x |
| 2018-12-31 | CA$10.79 | CA$15.86 | x |
| 2019-12-31 | CA$11.42 | CA$15.86 | x |
| 2021-12-31 | CA$15.37 | CA$15.86 | x |
| 2022-12-31 | CA$15.58 | CA$15.86 | x |
| 2023-12-31 | CA$14.89 | CA$15.86 | x |
Capital Efficiency Dashboard
This dashboard shows how efficiently Canso Credit Trust - Canso Credit Income Fund utilizes its equity to generate returns, including Return on Equity (ROE) and its components based on the DuPont analysis framework.
Capital Efficiency Insights
- Current Return on Equity (ROE): 4.40%
- The company may be facing challenges in efficiently utilizing shareholder equity.
- DuPont Analysis Breakdown:
- • Net Profit Margin: 51.74%
- • Asset Turnover: 0.06x
- • Equity Multiplier: 1.38x
- Recent ROE (4.40%) is below the historical average (5.93%), suggesting potential challenges in capital efficiency.
Historical Capital Efficiency Metrics
| Year | Return on Equity | Net Profit Margin | Asset Turnover | Equity Multiplier | Economic Value Added |
|---|---|---|---|---|---|
| 2010 | 3.37% | 0.00% | 0.00x | 1.01x | CA$-9.33 Million |
| 2011 | -8.34% | -1585300000.00% | 0.00x | 1.01x | CA$-34.87 Million |
| 2012 | 20.44% | 0.00% | 0.00x | 1.01x | CA$23.46 Million |
| 2013 | 11.34% | 34005.71% | 0.00x | 1.01x | CA$3.22 Million |
| 2014 | 10.73% | 91.73% | 0.12x | 1.01x | CA$1.87 Million |
| 2015 | -1.66% | 0.00% | 0.00x | 1.46x | CA$-28.07 Million |
| 2016 | 9.50% | 77.32% | 0.10x | 1.28x | CA$-1.09 Million |
| 2017 | 7.75% | 66.01% | 0.09x | 1.32x | CA$-3.90 Million |
| 2018 | -4.10% | -62.22% | 0.04x | 1.49x | CA$-21.99 Million |
| 2019 | 10.34% | 190.72% | 0.04x | 1.51x | CA$530.38K |
| 2021 | 13.84% | 64.55% | 0.16x | 1.35x | CA$6.16 Million |
| 2022 | -0.58% | -43.23% | 0.01x | 1.33x | CA$-16.28 Million |
| 2023 | 4.40% | 51.74% | 0.06x | 1.38x | CA$-7.78 Million |
Industry Comparison
This section compares Canso Credit Trust - Canso Credit Income Fund's net assets metrics with peer companies in the same industry.
Industry Context
Peer Company Comparison
| Company | Net Assets | Return on Equity | Debt-to-Equity | Market Cap |
|---|---|---|---|---|
| Canso Credit Trust - Canso Credit Income Fund (PBY-UN) | CA$148.80 Million | 3.37% | 0.15x | $101.44K |
| Economic Investment Trust Ltd (EVT) | $1.01 Billion | -1.73% | 0.09x | $137.78K |
| Precious Metals And Mining Trust (MMP-UN) | $59.10 Million | -128.52% | 0.02x | $27.12K |