Portfolio Reports

  • CCS LP - Series F
  • CCS RRSP Fund - Series F
Cortland Credit
MANAGER
Cortland Credit Group Inc.
FUND INVESTMENT OBJECTIVE
To preserve capital and generate uncorrelated returns that meet or exceed performance targets through cross class, short duration debt investments. The Fund aims to provide a superior fixed income investment vehicle with a distinct debt capital strategy for retail and institutional investors.
FUND DETAILS
Date of inception September 9, 2013
AUM $918.86MM
NAV Per Unit $11.7637
Management Fee 0.45%
Operations/Underwriting Expense 1.70%
Latest Distribution $0.0279
Distribution Frequency Monthly
Distributions Since Inception $3.8407
EXPOSURE BY SECTOR
graph 1
EXPOSURE BY SECURITY TYPE
graph 2
Fundserv CODES
CCSLP - F: CCG100
CCSLP - A: CCG102

Cortland Credit Strategies LP - Series F

Short-Term Private Debt
Performance as of June 30, 2021
Also available in RRSP version
FUND STRATEGY
  • Provide a stable income investment opportunity by acquiring a portfolio of diversified short term private debt, with peripheral exposures to short term Mortgages and public High Yield and Corporate/Government securities
  • Focus on short duration debt instruments to reduce interest rate sensitivity and achieve the Fund’s liquidity objectives
  • Execute origination strategies within robust Portfolio Management Guidelines, Investment Controls and Restrictions to provide prudent diversification while delivering superior risk-adjusted returns
  • Apply stringent investment review platform employing fundamental bottom-up analysis to select only companies with lower risk of default and to maximize protection through the capital structure
MONTHLY RETURNS SINCE INCEPTION (%)
  Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec YTD
2021 0.47 0.37 0.25 0.23 0.23 0.24 1.80%
2020 0.49 0.45 0.33 0.42 0.53 0.50 0.57 0.56 0.54 0.37 0.38 0.19 5.48%
2019 0.41 0.52 0.48 0.43 0.35 0.75 0.40 0.53 0.48 0.55 0.56 0.61 6.23%
2018 0.49 0.45 0.48 0.43 0.43 0.41 0.67 0.52 0.60 0.49 0.49 0.51 6.12%
2017 0.50 0.46 0.55 0.51 0.46 0.45 0.42 0.35 0.40 0.62 0.56 0.48 5.92%
2016 0.45 0.44 0.54 0.61 0.41 0.49 0.54 0.50 0.48 0.56 0.47 0.52 6.18%
2015 0.62 0.36 0.49 0.53 0.43 0.41 0.41 0.41 0.49 0.48 0.46 0.44 5.68%
2014 0.48 0.43 0.44 0.42 0.43 0.43 0.47 0.43 0.43 0.44 0.44 0.43 5.40%
2013 0.24 0.24 0.40 0.33 1.21%
PERIODIC AND ANNUALIZED RETURNS
Period 1 mo 3 mo 6 mo 1 yr 3 yr 5 yr Inception
Fund Performance 0.24% 0.70% 1.80% 4.49% 5.63% 5.74% 5.62%
*The indicated rates of return reflect changes to the net asset value of the Cortland Credit Strategies LP since inception and assumes reinvestment of all distributions and do not take into account sales, redemption, distribution, or optional charges or income taxes payable by any unitholder that would have reduced returns.
TOP 10 INVESTMENTS
# Type Industry Description # of Obligors Weight
1 Senior Secured Revolver Industrial Purchase order & AR financing for a solar panel manufacturer 45 5%
2 Senior Secured Short Term Loan Financial Short Term Loan to support a leading Canadian fintech loan origination 1304 5%
3 Senior Secured Short Term Loan Financial Secured demand loan provided to factoring firm 1 4%
4 Senior Secured Revolver Financial Mortgage financing 291 3%
5 Senior Secured Short Term Loan Financial Short Term Loan provided to fund borrowers origination of Canadian automobile loans 1817 3%
6 Senior Secured Short Term Loan Materials Short Term Loan to support the acquisition of a mining mill in Australia 1 2%
7 Senior Secured Short Term Loan Consumer Staples Short Term Loan to support the shareholder buyout and growth of an Ontario based craft brewer 1 2%
8 Senior Secured Revolver Information Technology UK-based value added reseller and service provider of diversified IT products and services 631 2%
9 Senior Secured Revolver Healthcare Revolving credit facility for a Canadian health care company 34 2%
10 Senior Secured Revolver Financial Toronto-based factoring company factoring insured receivables 11 2%
Total: 4136 30%
EXPLANATORY INFORMATION
Performance Information
The rates of return are not intended to reflect future values or returns on investment in an investment fund. Investment funds are not guaranteed, their values change frequently and past performance may not be repeated.
DISCLAIMER
Important information about the Cortland Credit Strategies LP is set out in its Offering Memorandum which should be reviewed carefully and discussed with your financial advisor prior to investment. This document has been provided for general information purposes only and does not constitute an offer to purchase or sell securities. The Fund is managed and administered by Cortland Credit Group Inc., which is registered as an Exempt Market Dealer (“EMD”), Portfolio Manager (“PM”) and Investment Fund Manager (“IFM”) in the province of Ontario, an EMD and IFM in the province of Quebec, and an EMD in the provinces of Manitoba, Saskatchewan, Alberta, BC, Nova Scotia and New Brunswick. For more information, please contact (416) 238-6736.