The investment objective of the Fund is to achieve long-term capital appreciation by investing primarily in global equity securities while mitigating capital loss by engaging in hedging strategies for downside risk protection.
Why Invest
Grow Your Wealth Through the growth potential of an actively managed portfolio of global equities. Benefit From Proven Managers With experience running Authentic Hedge® strategies for over a decade. Diversify Your Portfolio With a core equity holding designed to help grow your wealth while reducing downside risk.
† 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 25% S&P/TSX Composite Index (TR), 50% MSCI World Index (Net Returns) (in CAD ‡), 25% FTSE TMX Canada 30 Day TBill Index (TR)
Calendar Returns
2016
2017
2018
2019
2020
2021
2022
Picton Mahoney Fortified Equity Fund A
3.08%
8.33%
-5.04%
16.06%
18.73%
18.90%
-11.39%
Benchmark
1
7.63%
9.40%
-2.17%
16.70%
9.44%
16.38%
-7.10%
Series
Picton Mahoney Fortified Equity Fund A
Benchmark
2016
3.08%
7.63%
2017
8.33%
9.40%
2018
-5.04%
-2.17%
2019
16.06%
16.70%
2020
18.73%
9.44%
2021
18.90%
16.38%
2022
-11.39%
-7.10%
1 25% S&P/TSX Composite Index (TR), 50% MSCI World Index (Net Returns) (in CAD ‡), 25% FTSE TMX Canada 30 Day TBill Index (TR)
Risk Measures
Risk And Return Statistics
Fund
Benchmark
**
Annualized Return
6.96%
7.38%
Annualized Standard Deviation
10.38%
8.97%
Sharpe Ratio
0.59
0.73
Beta
1.10
—
Upside Capture Ratio
103.79%
—
Downside Capture Ratio
110.74%
—
Maximum Drawdown
-25.46%
-23.83%
Peak Value Date of Maximum Drawdown
2020-02-14
2020-02-19
Trough Value Date of Maximum Drawdown
2020-03-23
2020-03-23
**25% S&P/TSX Composite Index (TR), 50% MSCI World Index (Net Returns) (in CAD ), 25% FTSE TMX Canada 30 Day TBill Index (TR)
Portfolio Allocations
As at April 30, 2023
Sector Allocation
Geographic Allocation (Net)
Top 10 Long Positions
Name
Weight
Microsoft Corp.
3.99%
Apple Inc.
3.01%
Eli Lilly & Co.
2.21%
Mastercard Inc. Cl A
1.79%
UnitedHealth Group Inc.
1.67%
Progressive Corp.
1.57%
Amazon.com Inc.
1.48%
CANADIAN PACIFIC KANSAS CITY LTD
1.42%
Alphabet Inc. Cl A
1.41%
Exxon Mobil Corp.
1.31%
Exposure Breakout
±±
Name
Weight
Long
93.64%
Short
-3.56%
Gross
97.20%
Net
90.08%
±± 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
1.90%
PIC 8400
Class F
0.90%
PIC 8401
Class FT
0.90%
PIC 8403
Class T
1.90%
PIC 8402
Historical Net Asset Values
Start Date
End Date
Effective Date
Net Asset Value
Distributions
2023-06-01
$14.90
—
2023-05-31
$14.81
—
2023-05-30
$14.93
—
2023-05-29
$14.96
—
2023-05-26
$15.00
—
2023-05-25
$14.86
—
2023-05-24
$14.74
—
2023-05-23
$14.77
—
2023-05-19
$14.96
—
2023-05-18
$14.96
—
2023-05-17
$14.86
—
2023-05-16
$14.76
—
2023-05-15
$14.84
—
2023-05-12
$14.82
—
2023-05-11
$14.76
—
2023-05-10
$14.71
—
2023-05-09
$14.69
—
2023-05-08
$14.68
—
2023-05-05
$14.72
—
2023-05-04
$14.67
—
2023-05-03
$14.80
—
2023-05-02
$14.81
—
2023-05-01
$14.83
—
2023-04-28
$14.85
—
2023-04-27
$14.83
—
2023-04-26
$14.68
—
2023-04-25
$14.67
—
2023-04-24
$14.79
—
2023-04-21
$14.78
—
2023-04-20
$14.70
—
2023-04-19
$14.71
—
2023-04-18
$14.69
—
2023-04-17
$14.63
—
2023-04-14
$14.58
—
2023-04-13
$14.60
—
2023-04-12
$14.55
—
2023-04-11
$14.58
—
2023-04-10
$14.59
—
2023-04-06
$14.54
—
2023-04-05
$14.49
—
2023-04-04
$14.56
—
2023-04-03
$14.63
—
2023-03-31
$14.65
—
2023-03-30
$14.51
—
2023-03-29
$14.43
—
2023-03-28
$14.33
—
2023-03-27
$14.36
—
2023-03-24
$14.37
—
2023-03-23
$14.35
—
2023-03-22
$14.34
—
2023-03-21
$14.43
—
2023-03-20
$14.23
—
2023-03-17
$14.21
—
2023-03-16
$14.31
—
2023-03-15
$14.17
—
2023-03-14
$14.31
—
2023-03-13
$14.17
—
2023-03-10
$14.35
—
2023-03-09
$14.52
—
2023-03-08
$14.69
—
2023-03-07
$14.65
—
2023-03-06
$14.72
—
2023-03-03
$14.72
—
2023-03-02
$14.53
—
2023-03-01
$14.47
—
2023-02-28
$14.48
—
2023-02-27
$14.47
—
2023-02-24
$14.45
—
2023-02-23
$14.50
—
2023-02-22
$14.41
—
2023-02-21
$14.44
—
2023-02-17
$14.61
—
2023-02-16
$14.63
—
2023-02-15
$14.68
—
2023-02-14
$14.62
—
2023-02-13
$14.61
—
2023-02-10
$14.52
—
2023-02-09
$14.59
—
2023-02-08
$14.65
—
2023-02-07
$14.73
—
2023-02-06
$14.58
—
2023-02-03
$14.61
—
2023-02-02
$14.65
—
2023-02-01
$14.58
—
2023-01-31
$14.47
—
2023-01-30
$14.34
—
2023-01-27
$14.44
—
2023-01-26
$14.48
—
2023-01-25
$14.40
—
2023-01-24
$14.35
—
2023-01-23
$14.33
—
2023-01-20
$14.27
—
2023-01-19
$14.16
—
2023-01-18
$14.21
—
2023-01-17
$14.28
—
2023-01-16
$14.29
—
2023-01-13
$14.31
—
2023-01-12
$14.22
—
2023-01-11
$14.14
—
2023-01-10
$14.03
—
2023-01-09
$13.90
—
2023-01-06
$13.96
—
2023-01-05
$13.81
—
2023-01-04
$13.92
—
2023-01-03
$13.96
—
2022-12-30
$13.89
—
2022-12-29
$13.95
—
2022-12-28
$13.82
—
2022-12-23
$13.92
0.1668
2022-12-22
$14.11
—
2022-12-21
$14.21
—
2022-12-20
$14.05
—
2022-12-19
$14.10
—
2022-12-16
$14.20
—
2022-12-15
$14.24
—
2022-12-14
$14.48
—
2022-12-13
$14.47
—
2022-12-12
$14.47
—
2022-12-09
$14.34
—
2022-12-08
$14.36
—
2022-12-07
$14.29
—
2022-12-06
$14.37
—
2022-12-05
$14.40
—
2022-12-02
$14.53
—
2022-12-01
$14.52
—
2022-11-30
$14.53
—
2022-11-29
$14.27
—
2022-11-28
$14.16
—
2022-11-25
$14.26
—
2022-11-24
$14.22
—
2022-11-23
$14.22
—
2022-11-22
$14.13
—
2022-11-21
$14.07
—
2022-11-18
$14.04
—
2022-11-17
$13.92
—
2022-11-16
$13.95
—
2022-11-15
$14.00
—
2022-11-14
$13.85
—
2022-11-11
$13.94
—
2022-11-10
$13.91
—
2022-11-09
$13.56
—
2022-11-08
$13.71
—
2022-11-07
$13.66
—
2022-11-04
$13.56
—
2022-11-03
$13.55
—
2022-11-02
$13.55
—
2022-11-01
$13.78
—
2022-10-31
$13.79
—
2022-10-28
$13.81
—
2022-10-27
$13.58
—
2022-10-26
$13.64
—
2022-10-25
$13.69
—
2022-10-24
$13.54
—
2022-10-21
$13.42
—
2022-10-20
$13.20
—
2022-10-19
$13.34
—
2022-10-18
$13.40
—
2022-10-17
$13.27
—
2022-10-14
$13.12
—
2022-10-13
$13.31
—
2022-10-12
$13.04
—
2022-10-11
$13.13
—
2022-10-07
$13.25
—
2022-10-06
$13.55
—
2022-10-05
$13.61
—
2022-10-04
$13.57
—
2022-10-03
$13.26
—
2022-09-30
$13.07
—
2022-09-29
$13.10
—
2022-09-28
$13.24
—
2022-09-27
$13.10
—
2022-09-26
$13.08
—
2022-09-23
$13.14
—
2022-09-22
$13.33
—
2022-09-21
$13.39
—
2022-09-20
$13.50
—
2022-09-19
$13.57
—
2022-09-16
$13.52
—
2022-09-15
$13.60
—
2022-09-14
$13.65
—
2022-09-13
$13.64
—
2022-09-12
$13.89
—
2022-09-09
$13.81
—
2022-09-08
$13.68
—
2022-09-07
$13.62
—
2022-09-06
$13.43
—
2022-09-02
$13.46
—
2022-09-01
$13.55
—
2022-08-31
$13.58
—
2022-08-30
$13.66
—
2022-08-29
$13.70
—
2022-08-26
$13.78
—
2022-08-25
$14.04
—
2022-08-24
$13.97
—
2022-08-23
$13.93
—
2022-08-22
$13.99
—
2022-08-19
$14.17
—
2022-08-18
$14.27
—
2022-08-17
$14.24
—
2022-08-16
$14.27
—
2022-08-15
$14.31
—
2022-08-12
$14.19
—
2022-08-11
$14.00
—
2022-08-10
$14.00
—
2022-08-09
$13.87
—
2022-08-08
$13.92
—
2022-08-05
$13.96
—
2022-08-04
$13.89
—
2022-08-03
$13.87
—
2022-08-02
$13.76
—
2022-07-29
$13.79
—
2022-07-28
$13.66
—
2022-07-27
$13.51
—
2022-07-26
$13.26
—
2022-07-25
$13.38
—
2022-07-22
$13.34
—
2022-07-21
$13.45
—
2022-07-20
$13.34
—
2022-07-19
$13.28
—
2022-07-18
$13.01
—
2022-07-15
$13.11
—
2022-07-14
$13.02
—
2022-07-13
$12.94
—
2022-07-12
$13.01
—
2022-07-11
$13.13
—
2022-07-08
$13.21
—
2022-07-07
$13.26
—
2022-07-06
$13.12
—
2022-07-05
$13.05
—
2022-07-04
$13.00
—
2022-06-30
$12.93
—
2022-06-29
$13.05
—
2022-06-28
$13.12
—
2022-06-27
$13.29
—
2022-06-24
$13.30
—
2022-06-23
$13.01
—
2022-06-22
$12.98
—
2022-06-21
$13.03
—
2022-06-20
$12.87
—
2022-06-17
$12.89
—
2022-06-16
$12.81
—
2022-06-15
$13.14
—
2022-06-14
$12.98
—
2022-06-13
$13.00
—
2022-06-10
$13.37
—
2022-06-09
$13.60
—
2022-06-08
$13.75
—
2022-06-07
$13.88
—
2022-06-06
$13.80
—
2022-06-03
$13.78
—
2022-06-02
$13.94
—
Portfolio Management
David Picton
President, CEO and Portfolio Manager, Canadian Equities