Overview
Daily NAV
$11.52
0.08% $0.01
December 20, 2024
-
Inception DateMay 3, 2022
-
Fund Size$649.59MM
-
Management Fee1.95%
-
Performance Fee20.00% ^
-
Hurdle Rate2.00%
-
High Water MarkYes
-
Fund StrategyMulti-Asset Strategy
-
Fund FrameworkAlternative Mutual Fund (Simplified Prospectus)
Risk: Low to Medium
Low
Low to Medium
Medium
Medium to High
High
^ of performance above a 2% hurdle rate with a perpetual high water mark
Investment Objective
The strategy is expected to combine the firm’s best ideas by deploying the investment expertise of the equity, fixed income, arbitrage and quantitative teams. The low correlation among these components to equity markets will aim to enhance risk-adjusted returns.
Why Invest
Access Diverse Alternative Investment Strategies
The Fund will seek to deliver exposure to a variety of Fortified Alternative fund strategies that have historically been uncorrelated to traditional equity and fixed-income investments.
Benefit From Proven Managers
With experience running Authentic Hedge® strategies for over a decade.
Mitigate Risk and Manage Liquidity
That aim to source its alpha from factors that do not compound portfolio risks (such as equity and interest rate risks). The Fund will also allow for ample liquidity.
The Fund will seek to deliver exposure to a variety of Fortified Alternative fund strategies that have historically been uncorrelated to traditional equity and fixed-income investments.
Benefit From Proven Managers
With experience running Authentic Hedge® strategies for over a decade.
Mitigate Risk and Manage Liquidity
That aim to source its alpha from factors that do not compound portfolio risks (such as equity and interest rate risks). The Fund will also allow for ample liquidity.
Performance As at November 30, 2024
Growth of $10,000
Investment value:
$11,829.85
at
November 29, 2024
Compound Returns †
| 1 mth | 3 mths | 6 mths | YTD | 1 yr | 3 yrs * | 5 yrs * | 10 yrs * | Since Inception * | |
|---|---|---|---|---|---|---|---|---|---|
| Picton Mahoney Fortified Alpha Alternative Fund A | 0.84% | 2.89% | 5.53% | 11.57% | 11.91% | — | — | — | 6.74% |
| Benchmark 1 | 6.37% | 10.66% | 16.91% | 25.77% | 30.69% | — | — | — | 11.77% |
| Benchmark 2 | 0.30% | 1.02% | 2.21% | 4.38% | 4.80% | — | — | — | 4.17% |
| Benchmark 3 | 1.50% | 2.25% | 6.22% | 4.65% | 8.21% | — | — | — | 4.21% |
| Series | Picton Mahoney Fortified Alpha Alternative Fund A | Benchmark | Benchmark | Benchmark |
|---|---|---|---|---|
| 1 mth | 0.84% | 6.37% | 0.30% | 1.50% |
| 3 mths | 2.89% | 10.66% | 1.02% | 2.25% |
| 6 mths | 5.53% | 16.91% | 2.21% | 6.22% |
| YTD | 11.57% | 25.77% | 4.38% | 4.65% |
| 1 yr | 11.91% | 30.69% | 4.80% | 8.21% |
| 3 yrs * | — | — | — | — |
| 5 yrs * | — | — | — | — |
| 10 yrs * | — | — | — | — |
| Since Inception * | 6.74% | 11.77% | 4.17% | 4.21% |
† 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 FTSE Canada 30 Day TBill Index (TR)
3 ICE BofA Canada Broad Market Index (TR)
Calendar Returns
| 2023 | |
|---|---|
| Picton Mahoney Fortified Alpha Alternative Fund A | 4.33% |
| Benchmark 1 | 11.75% |
| Benchmark 2 | 4.77% |
| Benchmark 3 | 6.37% |
| Series | Picton Mahoney Fortified Alpha Alternative Fund A | Benchmark | Benchmark | Benchmark |
|---|---|---|---|---|
| 2023 | 4.33% | 11.75% | 4.77% | 6.37% |
1 S&P/TSX Composite TR Index
2 FTSE Canada 30 Day TBill Index (TR)
3 ICE BofA Canada Broad Market Index (TR)
Risk Measures
Risk And Return Statistics
Fund
Benchmark
Annualized Return
6.74%
11.77%
Annualized Standard Deviation
2.21%
14.34%
Sharpe Ratio
1.44
0.44
Beta
0.06
—
Upside Capture Ratio
21.10%
—
Downside Capture Ratio
-9.43%
—
Maximum Drawdown
-2.22%
-12.91%
Peak Value Date of Maximum Drawdown
2022-05-06
2022-05-09
Trough Value Date of Maximum Drawdown
2022-06-23
2022-07-14
Risk Measures
| Risk And Return Statistics | Fund | Benchmark |
|---|---|---|
| Annualized Return | 6.74% | 11.77% |
| Annualized Standard Deviation | 2.21% | 14.34% |
| Sharpe Ratio | 1.44 | 0.44 |
| Beta | 0.06 | — |
| Upside Capture Ratio | 21.10% | — |
| Downside Capture Ratio | -9.43% | — |
| Maximum Drawdown | -2.22% | -12.91% |
| Peak Value Date of Maximum Drawdown | 2022-05-06 | 2022-05-09 |
| Trough Value Date of Maximum Drawdown | 2022-06-23 | 2022-07-14 |
Portfolio Allocations As at November 30, 2024
Dollar Allocation
| Colours | Name | Weight |
|---|---|---|
| Market Neutral Strategy | 44.59% | |
| Arbitrage Strategy | 30.45% | |
| Long Short Credit Strategy | 48.79% | |
| Momentum | 6.30% | |
| Value | 3.15% | |
| Quality | 3.15% | |
| Discretionary Market Hedges | 0.20% |
Risk Allocation
| Colours | Name | Weight |
|---|---|---|
| Market Neutral Strategy | 1.50% | |
| Arbitrage Strategy | 0.74% | |
| Long Short Credit Strategy | 1.66% | |
| Momentum | 0.28% | |
| Value | 0.14% | |
| Quality | 0.14% | |
| Discretionary Market Hedges | 0.14% |
Fees
| Series | Management Fee | Fund codes |
|---|---|---|
| Class A | 1.95% | PIC 3350 |
| ETF | 0.95% | PFAA |
| Class F | 0.95% | PIC 3351 |
| Class FT | 0.95% | PIC 3353 |
Portfolio Management
Neil Simons
Portfolio Manager, Multi-Asset Strategies
Dashmeet Singh, CFA
Portfolio Manager & Director, Quantitative Research/Risk