AI assistant
ATCO LTD. Fund Information / Factsheet 2026
42708_rns_2026-04-10_17fca869-65ba-43de-a447-01a9a3c2c587.pdf
Fund Information / Factsheet
Open in viewerOpens in your device viewer
Cover Page
The following “OM marketing materials” relate to the Offering Memorandum of ICM Crescendo Music Royalty Fund dated April 1, 2025.
ICM
CRESCENDO MUSIC ROYALTY
ICM Crescendo Music Royalty Fund
Income diversification & capital appreciation
through the ownership of music
Series A • Series B • Series C • Series US$
March 31, 2026
Investment Objective
ICM Crescendo Music Royalty Fund seeks to provide investors with an attractive, durable and uncorrelated yield by directly investing in music intellectual property.
Who Invests?
- An investor seeking stable monthly income not impacted by interest rates.
- An investor seeking to diversify from major asset classes.
- An investor seeking to participate in the high growth music streaming market.
- An investor who feels it is important to work with an experienced and aligned alternative investment fund manager.
| General Information | |
|---|---|
| Fund Assets | $389.01 million (gross) |
| Fund Type | Mutual Fund Trust |
| Investment Style | Income and Growth |
| Sold By | Offering Memorandum |
| Registered Plan Status | Eligible |
| Purchases | Monthly |
| Distribution Frequency | Monthly |
| Valuations & Liquidity¹ | Monthly |
| DRIP Unit Purchases | 97% of NAV |
| Target Total Net Return | 8-12% p.a. (5+ years) |
Payback Period vs. Estimated Life of Copyright
Portfolio Metrics²
| Songs | 6,226 |
|---|---|
| Catalogues | 45 |
| Leverage Ratio³ | 7.5% |
| Payback Period | 9.2 Years |
Growth of $100k Since Inception (Series B)⁴
Inception Date: October 2020
Assets By Genre²
| Genre | % of NAV |
|---|---|
| Pop | 34.8% |
| Rock | 22.4% |
| R&B/Hip Hop | 20.0% |
| Country | 6.6% |
| Electronic | 6.2% |
| Latin | 4.2% |
| Classical | 3.3% |
| Christian | 1.3% |
| Holiday | 1.2% |
| Total | 100.0% |
Assets By Age²
| Song Age | % of NAV |
|---|---|
| 0-2 Years | 0.2% |
| 3-5 Years | 11.3% |
| 6-10 Years | 26.5% |
| 10+ Years | 62.0% |
| Total | 100.0% |
ICM
CRESCENDO MUSIC ROYALTY
ICM Crescendo Music Royalty Fund
Series A • Series B • Series C • Series US$
Average Trailing Returns⁵
| Series | 1 Mo | 3 Mo | 6 Mo | 1 Yr | 3 Yr | 5 Yr | SI (Ann.) | |
|---|---|---|---|---|---|---|---|---|
| A | Cash | 0.54% | 1.63% | 3.65% | 7.36% | 8.80% | 9.73% | 9.45% |
| DRIP | 0.56% | 1.68% | 3.76% | 7.58% | 9.04% | 9.96% | 9.68% | |
| B | Cash | 0.54% | 1.63% | 3.83% | 7.54% | 8.86% | 9.77% | 9.43% |
| DRIP | 0.56% | 1.68% | 3.93% | 7.76% | 9.10% | 10.00% | 9.66% | |
| C | Cash | 0.57% | 1.72% | 3.81% | 8.08% | 10.11% | N/A | 11.04% |
| DRIP | 0.59% | 1.77% | 3.93% | 8.31% | 10.38% | N/A | 11.30% | |
| US$ | Cash | 0.61% | 2.29% | 4.17% | 9.03% | 9.39% | 9.65% | 9.46% |
| DRIP | 0.62% | 2.35% | 4.29% | 9.28% | 9.65% | 9.90% | 9.71% |
Calendar Year Returns⁵
| Series | Inception Date | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | YTD | |
|---|---|---|---|---|---|---|---|---|---|
| A | Oct 2020 | Cash | 1.00% | 8.80% | 13.60% | 8.38% | 9.99% | 7.85% | 1.63% |
| DRIP | 1.03% | 9.01% | 13.84% | 8.62% | 10.23% | 8.07% | 1.68% | ||
| B | Oct 2020 | Cash | 1.51% | 8.80% | 13.60% | 8.38% | 9.99% | 8.03% | 1.63% |
| DRIP | 1.55% | 9.01% | 13.84% | 8.62% | 10.23% | 8.26% | 1.68% | ||
| C | Jul 2021 | Cash | N/A | 5.28% | 14.17% | 8.93% | 11.28% | 9.98% | 1.72% |
| DRIP | N/A | 5.38% | 14.43% | 9.19% | 11.55% | 10.23% | 1.77% | ||
| US$ | Nov 2020 | Cash | 0.54% | 6.70% | 13.48% | 9.71% | 9.18% | 8.56% | 2.29% |
| DRIP | 0.56% | 6.91% | 13.75% | 9.98% | 9.44% | 8.82% | 2.35% |
Purchase Options
| A | B | US$ | C | |
|---|---|---|---|---|
| Minimum Investment | $10,000 | $10,000 | US$25,000 | $150,000 |
| Unit Price | $11.54 | $11.56 | US$11.10 | $11.81 |
| Annual Distribution per Unit | $0.75 | $0.75 | US$0.81 | $0.81 |
| Implied Annual Distribution | 6.50% | 6.49% | 7.26% | 6.83% |
| Management Fee | 1.90% | 1.90% | 1.90% | 1.65% |
| Annual Advisor Trailer Fee | - | 1.00% | 0.75% | 0.75% |
Redemption¹ Monthly liquidity, subject to conditions and restrictions (See Item 5.1 – Terms of Securities of the Offering Memorandum for full details)
This fact sheet should be read in conjunction with the ICM Crescendo Music Royalty Fund (the "Trust") offering memorandum (the "Offering Memorandum") dated April 1, 2025. This document is for information purposes only and does not constitute an offer to sell nor a solicitation to buy the securities referred to herein. The document does not, and it is not intended to, provide any financial, legal, accounting, or tax advice, and must not be relied upon by you in that regard. The document should not be used, or relied upon by you, as a substitute for your independent research or consultation with your own financial, legal or tax advisors. There is no guarantee of performance, and past or projected performance is not indicative of future results. Eligible Investors should review the Offering Memorandum in its entirety for a complete description of the Trust, its risks, and consult their registered advisors before making an investment.
This fund fact sheet contains "forward-looking information" within the meaning of applicable securities laws in Canada relating to the estimated pay back period and life of copyright of investments of ICM Crescendo Music Royalty Fund. Statements containing forward-looking information are not historical facts but instead represent ICM Investment Management Inc. ("ICM"), the investment fund manager of the Trust, expectations, estimates and projections regarding future events or circumstances as of the date hereof. Readers are cautioned not to place undue reliance on the forward-looking information as there can be no assurances that the condition, events, plans and assumptions on which there were based will occur. The forward-looking information in the fund fact sheet reflects ICM's assumptions, estimates, and opinions based on our experience and perception of historical, current, and future trends within the music royalty market that we currently believe are reasonable in the circumstances including certain assumptions in respect of digital streaming growth, physical sales and downloads and synchronization royalties. Forward-looking information is necessarily based on a number of opinions, estimates and assumptions that ICM considers appropriate and reasonable which are subject to known and unknown risks, uncertainties, assumptions and other factors that may cause the actual results, level of activity, performance or achievements to be materially different from those expressed or implied by such forward-looking information. Please refer to the Offering Memorandum for a full description of risk factors. Returns included in this Fact Sheet are based upon ICM Investment Management Inc.'s Fund Returns Calculation Methodology.
- Redemptions subject to certain restrictions. Please see the Offering Memorandum for full details.
- For the period ending December 31, 2025. Total may not equal 100% due to rounding. Portfolio metrics prepared by ICM are unaudited.
- Leverage Ratio as at December 31, 2025. The debt is held in a separate entity from ICM Crescendo Music Royalty LP, the Trust's main investment vehicle.
- Assumes that all distributions are reinvested at 97% of Series NAV (Advantaged DRIP™).
- For the period ending March 31, 2026. Past performance is not indicative of future returns.
Contact Geoff LaFleur
VP National Sales
E: [email protected]
ICM Investment Management
E: [email protected]
T: +1 (403) 256-5350