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PERFORMANCE SOLUTIONS TOOLS RESOURCES DOCUMENTATION ABOUT US

Overview

Daily NAV
$15.45
0.18% $0.03
September 22, 2023
  • Inception Date
    July 12, 2019
  • Fund Size
    $76.80MM
  • Management Fee
    0.95%
  • Performance Fee
    20.00% ^
  • Fund Strategy
    130/30 Alpha Extension Equity
  • Fund Framework
    Alternative Mutual Fund (Simplified Prospectus)

Risk: Medium

Low
Low To Moderate
Moderate
Moderate To High
High
Geographic Allocation
Growth of $10,000
$16,053.05

^ of performance above the benchmark

Investment Objective

The investment objective of the Fund is to offer investors consistent long-term capital appreciation with an attractive risk-adjusted rate of return with similar volatility to the traditional equity market. The investment strategy of the Fund is to employ a long/short equity strategy that targets a net long equity exposure of 100% of Fund assets, investing 130% of assets long while selling 30% of assets short. This approach aims to achieve, over time, 160% gross equity exposure, increasing the opportunity set to generate alpha while maintaining a market exposure similar to the traditional equity market.

Why Invest

Extend the Opportunity for Alpha
With a Fund that seeks to increase return potential while experiencing similar volatility to the traditional equity market.
Benefit From Proven Management
With experience running Authentic Hedge® strategies for over a decade.
Add Hedging Tools
To enhance traditional long only equity portfolios.

Performance As at August 31, 2023

Growth of $10,000

Investment value: $16,053.05 at August 31, 2023

Compound Returns †

1 mth 3 mths 6 mths YTD 1 yr 3 yrs * 5 yrs * 10 yrs * Since Inception *
Picton Mahoney Fortified Active Extension Alternative Fund ETF -0.69% 4.88% 3.45% 8.10% 11.69% 13.14% — — 12.12%
Series Picton Mahoney Fortified Active Extension Alternative Fund ETF
1 mth -0.69%
3 mths 4.88%
6 mths 3.45%
YTD 8.10%
1 yr 11.69%
3 yrs * 13.14%
5 yrs * —
10 yrs * —
Since Inception * 12.12%

† The rate of return shown above is used only to illustrate the effects of the compound growth rate and is not intended to reflect future values of the investment fund, or returns on investment in the investment fund.

* refers to average annualized performance.

Calendar Returns

2020 2021 2022
Picton Mahoney Fortified Active Extension Alternative Fund ETF 21.29% 25.60% -6.36%
Series Picton Mahoney Fortified Active Extension Alternative Fund ETF
2020 21.29%
2021 25.60%
2022 -6.36%

Risk Measures

Risk And Return Statistics Fund Benchmark **
Annualized Return 12.12% 8.40%
Annualized Standard Deviation 18.71% 16.37%
Sharpe Ratio 0.64 0.50
Beta 1.10 —
Upside Capture Ratio 116.30% —
Downside Capture Ratio 102.53% —
Maximum Drawdown -39.42% -37.20%
Peak Value Date of Maximum Drawdown 2020-02-14 2020-02-20
Trough Value Date of Maximum Drawdown 2020-03-23 2020-03-23

**S&P/TSX Composite TR Index

Portfolio Allocations As at August 31, 2023

Sector Allocation

Geographic Allocation (Net)

Exposure Breakout ±±

Name Weight
Long 137.39%
Short -37.83%
Gross 175.22%
Net 99.55%

±± Exposure Breakout categories are shown as market values, except where indicated. Notional represents the total underlying notional exposure of the derivatives positions.

Fees

Series Management Fee Fund codes
Class A 1.95% PIC 3000
Class F 0.95% PIC 3001
ETF 0.95% PFAE

Historical Net Asset Values

Start Date

End Date

Effective Date Net Asset Value Distributions
2023-09-22 $15.45 —
2023-09-21 $15.42 —
2023-09-20 $15.69 —
2023-09-19 $15.68 —
2023-09-18 $15.88 —
2023-09-15 $15.94 —
2023-09-14 $15.95 —
2023-09-13 $15.77 —
2023-09-12 $15.74 —
2023-09-11 $15.74 —
2023-09-08 $15.66 —
2023-09-07 $15.74 —
2023-09-06 $15.82 —
2023-09-05 $15.92 —
2023-09-01 $16.02 —
2023-08-31 $15.81 —
2023-08-30 $15.78 —
2023-08-29 $15.73 —
2023-08-28 $15.52 —
2023-08-25 $15.40 —
2023-08-24 $15.35 —
2023-08-23 $15.47 —
2023-08-22 $15.31 —
2023-08-21 $15.36 —
2023-08-18 $15.34 —
2023-08-17 $15.32 —
2023-08-16 $15.44 —
2023-08-15 $15.46 —
2023-08-14 $15.72 —
2023-08-11 $15.74 —
2023-08-10 $15.69 —
2023-08-09 $15.65 —
2023-08-08 $15.63 —
2023-08-04 $15.69 —
2023-08-03 $15.61 —
2023-08-02 $15.66 —
2023-08-01 $15.91 —
2023-07-31 $15.92 —
2023-07-28 $15.88 —
2023-07-27 $15.75 —
2023-07-26 $15.85 —
2023-07-25 $15.84 —
2023-07-24 $15.81 —
2023-07-21 $15.83 —
2023-07-20 $15.76 —
2023-07-19 $15.84 —
2023-07-18 $15.81 —
2023-07-17 $15.72 —
2023-07-14 $15.72 —
2023-07-13 $15.68 —
2023-07-12 $15.58 —
2023-07-11 $15.43 —
2023-07-10 $15.41 —
2023-07-07 $15.37 —
2023-07-06 $15.36 —
2023-07-05 $15.55 —
2023-07-04 $15.63 —
2023-06-30 $15.61 —
2023-06-29 $15.41 —
2023-06-28 $15.32 —
2023-06-27 $15.28 —
2023-06-26 $15.15 —
2023-06-23 $15.10 —
2023-06-22 $15.24 —
2023-06-21 $15.30 —
2023-06-20 $15.31 —
2023-06-19 $15.39 —
2023-06-16 $15.40 —
2023-06-15 $15.44 —
2023-06-14 $15.41 —
2023-06-13 $15.38 —
2023-06-12 $15.32 —
2023-06-09 $15.27 —
2023-06-08 $15.31 —
2023-06-07 $15.29 —
2023-06-06 $15.39 —
2023-06-05 $15.32 —
2023-06-02 $15.38 —
2023-06-01 $15.16 —
2023-05-31 $15.08 —
2023-05-30 $15.14 —
2023-05-29 $15.28 —
2023-05-26 $15.26 —
2023-05-25 $15.15 —
2023-05-24 $15.20 —
2023-05-23 $15.35 —
2023-05-19 $15.55 —
2023-05-18 $15.54 —
2023-05-17 $15.48 —
2023-05-16 $15.45 —
2023-05-15 $15.61 —
2023-05-12 $15.52 —
2023-05-11 $15.44 —
2023-05-10 $15.49 —
2023-05-09 $15.44 —
2023-05-08 $15.42 —
2023-05-05 $15.37 —
2023-05-04 $15.14 —
2023-05-03 $15.32 —
2023-05-02 $15.36 —
2023-05-01 $15.52 —
2023-04-28 $15.49 —
2023-04-27 $15.43 —
2023-04-26 $15.31 —
2023-04-25 $15.34 —
2023-04-24 $15.53 —
2023-04-21 $15.54 —
2023-04-20 $15.49 —
2023-04-19 $15.51 —
2023-04-18 $15.51 —
2023-04-17 $15.48 —
2023-04-14 $15.46 —
2023-04-13 $15.45 —
2023-04-12 $15.36 —
2023-04-11 $15.32 —
2023-04-10 $15.25 —
2023-04-06 $15.20 —
2023-04-05 $15.19 —
2023-04-04 $15.32 —
2023-04-03 $15.38 —
2023-03-31 $15.26 —
2023-03-30 $15.08 —
2023-03-29 $14.99 —
2023-03-28 $14.88 —
2023-03-27 $14.87 —
2023-03-24 $14.78 —
2023-03-23 $14.75 —
2023-03-22 $14.78 —
2023-03-21 $14.90 —
2023-03-20 $14.79 —
2023-03-17 $14.71 —
2023-03-16 $14.86 —
2023-03-15 $14.66 —
2023-03-14 $14.92 —
2023-03-13 $14.77 —
2023-03-10 $14.92 —
2023-03-09 $15.17 —
2023-03-08 $15.38 —
2023-03-07 $15.31 —
2023-03-06 $15.49 —
2023-03-03 $15.55 —
2023-03-02 $15.38 —
2023-03-01 $15.33 —
2023-02-28 $15.29 —
2023-02-27 $15.26 —
2023-02-24 $15.20 —
2023-02-23 $15.19 —
2023-02-22 $15.16 —
2023-02-21 $15.21 —
2023-02-17 $15.37 —
2023-02-16 $15.45 —
2023-02-15 $15.53 —
2023-02-14 $15.50 —
2023-02-13 $15.47 —
2023-02-10 $15.39 —
2023-02-09 $15.42 —
2023-02-08 $15.50 —
2023-02-07 $15.52 —
2023-02-06 $15.38 —
2023-02-03 $15.49 —
2023-02-02 $15.48 —
2023-02-01 $15.53 —
2023-01-31 $15.49 —
2023-01-30 $15.34 —
2023-01-27 $15.44 —
2023-01-26 $15.47 —
2023-01-25 $15.39 —
2023-01-24 $15.42 —
2023-01-23 $15.39 —
2023-01-20 $15.33 —
2023-01-19 $15.22 —
2023-01-18 $15.24 —
2023-01-17 $15.30 —
2023-01-16 $15.24 —
2023-01-13 $15.23 —
2023-01-12 $15.13 —
2023-01-11 $15.01 —
2023-01-10 $14.93 —
2023-01-09 $14.87 —
2023-01-06 $14.81 —
2023-01-05 $14.63 —
2023-01-04 $14.74 —
2023-01-03 $14.66 —
2022-12-30 $14.63 —
2022-12-29 $14.69 —
2022-12-28 $14.50 —
2022-12-23 $14.63 —
2022-12-22 $14.56 0.0808
2022-12-21 $14.80 —
2022-12-20 $14.58 —
2022-12-19 $14.50 —
2022-12-16 $14.69 —
2022-12-15 $14.81 —
2022-12-14 $15.09 —
2022-12-13 $15.14 —
2022-12-12 $15.11 —
2022-12-09 $15.04 —
2022-12-08 $15.07 —
2022-12-07 $15.02 —
2022-12-06 $14.99 —
2022-12-05 $15.22 —
2022-12-02 $15.41 —
2022-12-01 $15.43 —
2022-11-30 $15.26 —
2022-11-29 $15.05 —
2022-11-28 $15.00 —
2022-11-25 $15.14 —
2022-11-24 $15.12 —
2022-11-23 $15.08 —
2022-11-22 $15.02 —
2022-11-21 $14.83 —
2022-11-18 $14.82 —
2022-11-17 $14.74 —
2022-11-16 $14.84 —
2022-11-15 $14.89 —
2022-11-14 $14.80 —
2022-11-11 $14.91 —
2022-11-10 $14.86 —
2022-11-09 $14.35 —
2022-11-08 $14.62 —
2022-11-07 $14.53 —
2022-11-04 $14.43 —
2022-11-03 $14.30 —
2022-11-02 $14.26 —
2022-11-01 $14.47 —
2022-10-31 $14.46 —
2022-10-28 $14.50 —
2022-10-27 $14.39 —
2022-10-26 $14.36 —
2022-10-25 $14.24 —
2022-10-24 $14.04 —
2022-10-21 $13.98 —
2022-10-20 $13.76 —
2022-10-19 $13.87 —
2022-10-18 $14.00 —
2022-10-17 $13.87 —
2022-10-14 $13.62 —
2022-10-13 $13.84 —
2022-10-12 $13.56 —
2022-10-11 $13.55 —
2022-10-07 $13.83 —
2022-10-06 $14.18 —
2022-10-05 $14.37 —
2022-10-04 $14.41 —
2022-10-03 $14.00 —
2022-09-30 $13.70 —
2022-09-29 $13.68 —
2022-09-28 $13.82 —
2022-09-27 $13.52 —
2022-09-26 $13.50 —

Portfolio Management

David Picton

President, CEO and Portfolio Manager, Canadian Equities

Jeffrey Bradacs, CFA

Portfolio Manager, Canadian Equities

    This material is intended for use by Investment Advisors.

    Risk/Reward Analysis results are calculated based on ETF Class fund unit’s daily data since inception. Due to the fund’s limited history, all risk/reward analysis results may not be statistically relevant. Beta measures the fund’s volatility relative to its benchmark: a rating of “1” implies the fund’s movements are identical to the index (typically you pay a manager to achieve beta of less than 1). Up/Downside Capture is a measure of an investment manager’s performance during only the up or down movements of an index (ideally you want low downside and a fairly high level of upside): the numbers shown here are the fund’s up/down capture relative to the benchmark(s). Maximum drawdown measures the largest single drop in a class’s Net Asset Value Per Unit from peak to trough before establishing a higher peak (the smaller, the better).

    There is no guarantee that a hedging strategy will be effective or achieve its intended effect. The use of derivatives or short selling carries several risks which may restrict a strategy in realizing its profits, limiting its losses, or, which cause a strategy to realize a loss. There may be additional costs and expenses associated with the use of derivatives and short selling in a hedging strategy.

    The rate of return shown in the "Growth of $10,000 investment" graph is used only to illustrate the effects of the compound growth rate and is not intended to reflect future values of the investment fund or returns on investment in the investment fund.

    This is provided as a general source of information, is subject to change without notification and should not be construed as investment advice. This material should not be relied upon for any investment decision and is not a recommendation, solicitation or offering of any security in any jurisdiction.

    Commissions, trailing commissions, management fees, performance fees and expenses all may be associated with mutual fund investments. Please read the prospectus before investing. The indicated rates of return are the historical annual compounded total returns including changes in unit value and 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. Mutual funds are not guaranteed, their values change frequently and past performance may not be repeated. Alternative funds can only be purchased through a registered dealer and are available only in those jurisdictions where they may be lawfully offered for sale.

    Investment Risk Rating is the historical volatility risk as measured by the standard deviation of fund performance, which is the standard methodology outlined in Appendix F Investment Risk Classification Methodology to NI 81-102 Investment Funds.

    PERFORMANCE SOLUTIONS TOOLS RESOURCES DOCUMENTATION ABOUT US

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