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.
† 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.
1 S&P/TSX Composite TR Index
2 S&P 500 Index
Calendar Returns
2020
2021
2022
Picton Mahoney Fortified Active Extension Alternative Fund ETF
21.29%
25.60%
-6.36%
Benchmark
1
5.60%
25.09%
-5.84%
Benchmark
2
16.31%
27.83%
-12.42%
Series
Picton Mahoney Fortified Active Extension Alternative Fund ETF
Benchmark
Benchmark
2020
21.29%
5.60%
16.31%
2021
25.60%
25.09%
27.83%
2022
-6.36%
-5.84%
-12.42%
1 S&P/TSX Composite TR Index
2 S&P 500 Index
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