SUBSCRIBE FR
PERFORMANCE SOLUTIONS TOOLS RESOURCES DOCUMENTATION ABOUT US

Overview

Daily NAV
$7.44
0.11% $0.01
September 30, 2022
  • Inception Date
    October 29, 2015
  • Fund Size
    $673.50MM
  • Management Fee
    1.90%
  • Performance Fee
    20.00% ^
  • Distributions
    Monthly; targeting a rate of 5% per annum
  • Fund Strategy
    Long Short Credit
  • Fund Framework
    Mutual Fund

Risk: Low to Medium

Low
Low To Moderate
Moderate
Moderate To High
High

^ of performance above the benchmark

Investment Objective

The investment objective of the Fund is to maximize total return to unitholders through income and capital appreciation by investing primarily in global income securities while mitigating capital loss by engaging in hedging strategies for downside risk protection.

Why Invest

Generate Sustainable Income
Through a portfolio that invests primarily in medium-grade fixed income securities (rated B-BBB) issued in developed markets.
Benefit From Proven Managers
With experience running Authentic Hedge® strategies for almost a decade.
Diversify Your Portfolio
With a high yield income portfolio designed to complement long-only income and equity investments while reducing downside risk.

Performance As at August 31, 2022

Growth of $10,000

Investment value: $13,290.77 at August 31, 2022

Compound Returns

1 mth 3 mths 6 mths YTD 1 yr 3 yrs * 5 yrs * 10 yrs * Since Inception *
Picton Mahoney Fortified Income Fund T -0.50% -0.89% -3.32% -4.81% -5.13% 1.94% 1.74% 4.25%
Series Picton Mahoney Fortified Income Fund T
1 mth -0.50%
3 mths -0.89%
6 mths -3.32%
YTD -4.81%
1 yr -5.13%
3 yrs * 1.94%
5 yrs * 1.74%
10 yrs *
Since Inception * 4.25%

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

2016 2017 2018 2019 2020 2021
Picton Mahoney Fortified Income Fund T 16.28% 8.19% -2.75% 5.41% 6.63% 2.62%
Series Picton Mahoney Fortified Income Fund T
2016 16.28%
2017 8.19%
2018 -2.75%
2019 5.41%
2020 6.63%
2021 2.62%

Risk Measures

Risk And Return Statistics Fund Benchmark **
Annualized Return 4.25% 3.08%
Annualized Standard Deviation 3.96% 7.36%
Sharpe Ratio 0.87 0.33
Beta 0.43
Upside Capture Ratio 65.73%
Downside Capture Ratio 32.17%
Maximum Drawdown -9.91% -19.88%
Peak Value Date of Maximum Drawdown 2020-02-25 2020-02-21
Trough Value Date of Maximum Drawdown 2020-03-23 2020-03-23

**75% ICE BofAML Global High Yield Index / 25% ICE BofAML Global Corporate Index (TR) (Hedged to CAD)

Portfolio Allocations As at August 31, 2022

Sector Allocation

Geographic Allocation (Gross)

Credit Ratings

Security Type Allocation

Top 10 Long Positions

Name Weight
Secure Energ Se 7.25% 30Dec26 2.67%
Autocanada Inc 5.75% 07Feb29 1.99%
Horizon Therapeutics Usa 5.5% 01Aug27 1.94%
Cushman & Wakefield Us 6.75% 15May28 1.92%
Parkland Corp 3.875% 16Jun26 1.84%
Rogers Communications Inc Frn 17Dec81 1.77%
Northriver Midstream Fin 5.625% 15Feb26 1.54%
American Airlines Inc 11.75% 15Jul25 1.53%
Bank Of Montreal Frn 31Dec49 1.52%
Barclays Bank Plc Frn 31Dec49 1.52%

Exposure Breakout ±±

Name Weight
Long 91.10%
Short -8.26%
Gross 99.36%
Net 82.84%

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

Fundamental Metrics

Fund Benchmark
Weighted Average Modified Duration 2.75 4.88
Credit Rating BB
Issuers 162 21308
Yield To Maturity 7.23% 6.35%

Fees

Series Management Fee Fund codes
Class A 1.90% PIC 8500
Class F 0.90% PIC 8501
Class FT 0.90% PIC 8503
Class T 1.90% PIC 8502

Historical Net Asset Values

Start Date

End Date

Effective Date Net Asset Value Distributions
2022-09-30 $7.44 0.0345
2022-09-29 $7.46
2022-09-28 $7.48
2022-09-27 $7.50
2022-09-26 $7.52
2022-09-23 $7.53
2022-09-22 $7.56
2022-09-21 $7.57
2022-09-20 $7.57
2022-09-19 $7.56
2022-09-16 $7.57
2022-09-15 $7.59
2022-09-14 $7.60
2022-09-13 $7.61
2022-09-12 $7.62
2022-09-09 $7.63
2022-09-08 $7.61
2022-09-07 $7.60
2022-09-06 $7.60
2022-09-02 $7.61
2022-09-01 $7.60
2022-08-31 $7.62 0.0345
2022-08-30 $7.66
2022-08-29 $7.67
2022-08-26 $7.68
2022-08-25 $7.68
2022-08-24 $7.68
2022-08-23 $7.67
2022-08-22 $7.67
2022-08-19 $7.69
2022-08-18 $7.70
2022-08-17 $7.70
2022-08-16 $7.70
2022-08-15 $7.71
2022-08-12 $7.70
2022-08-11 $7.71
2022-08-10 $7.70
2022-08-09 $7.69
2022-08-08 $7.69
2022-08-05 $7.68
2022-08-04 $7.69
2022-08-03 $7.69
2022-08-02 $7.69
2022-07-29 $7.69 0.0345
2022-07-28 $7.69
2022-07-27 $7.68
2022-07-26 $7.67
2022-07-25 $7.67
2022-07-22 $7.67
2022-07-21 $7.64
2022-07-20 $7.63
2022-07-19 $7.61
2022-07-18 $7.60
2022-07-15 $7.59
2022-07-14 $7.58
2022-07-13 $7.58
2022-07-12 $7.59
2022-07-11 $7.59
2022-07-08 $7.58
2022-07-07 $7.58
2022-07-06 $7.57
2022-07-05 $7.57
2022-07-04 $7.57
2022-06-30 $7.57 0.0345
2022-06-29 $7.61
2022-06-28 $7.64
2022-06-27 $7.65
2022-06-24 $7.65
2022-06-23 $7.64
2022-06-22 $7.66
2022-06-21 $7.67
2022-06-20 $7.67
2022-06-17 $7.67
2022-06-16 $7.68
2022-06-15 $7.71
2022-06-14 $7.69
2022-06-13 $7.72
2022-06-10 $7.75
2022-06-09 $7.75
2022-06-08 $7.75
2022-06-07 $7.74
2022-06-06 $7.76
2022-06-03 $7.77
2022-06-02 $7.78
2022-06-01 $7.78
2022-05-31 $7.79 0.0345
2022-05-30 $7.83
2022-05-27 $7.83
2022-05-26 $7.82
2022-05-25 $7.78
2022-05-24 $7.77
2022-05-20 $7.78
2022-05-19 $7.79
2022-05-18 $7.81
2022-05-17 $7.82
2022-05-16 $7.83
2022-05-13 $7.84
2022-05-12 $7.83
2022-05-11 $7.86
2022-05-10 $7.86
2022-05-09 $7.86
2022-05-06 $7.89
2022-05-05 $7.91
2022-05-04 $7.91
2022-05-03 $7.91
2022-05-02 $7.92
2022-04-29 $7.93 0.0345
2022-04-28 $7.96
2022-04-27 $7.97
2022-04-26 $7.98
2022-04-25 $7.97
2022-04-22 $8.00
2022-04-21 $8.00
2022-04-20 $7.99
2022-04-19 $8.00
2022-04-18 $8.00
2022-04-14 $8.01
2022-04-13 $8.00
2022-04-12 $8.01
2022-04-11 $8.01
2022-04-08 $8.01
2022-04-07 $8.01
2022-04-06 $8.02
2022-04-05 $8.03
2022-04-04 $8.01
2022-04-01 $8.01
2022-03-31 $8.02 0.0345
2022-03-30 $8.05
2022-03-29 $8.04
2022-03-28 $8.03
2022-03-25 $8.04
2022-03-24 $8.04
2022-03-23 $8.04
2022-03-22 $8.04
2022-03-21 $8.05
2022-03-18 $8.04
2022-03-17 $8.04
2022-03-16 $8.03
2022-03-15 $8.03
2022-03-14 $8.04
2022-03-11 $8.04
2022-03-10 $8.04
2022-03-09 $8.06
2022-03-08 $8.05
2022-03-07 $8.06
2022-03-04 $8.07
2022-03-03 $8.09
2022-03-02 $8.09
2022-03-01 $8.10
2022-02-28 $8.09 0.0345
2022-02-25 $8.12
2022-02-24 $8.10
2022-02-23 $8.13
2022-02-22 $8.13
2022-02-18 $8.15
2022-02-17 $8.16
2022-02-16 $8.16
2022-02-15 $8.17
2022-02-14 $8.17
2022-02-11 $8.19
2022-02-10 $8.20
2022-02-09 $8.21
2022-02-08 $8.21
2022-02-07 $8.21
2022-02-04 $8.21
2022-02-03 $8.23
2022-02-02 $8.23
2022-02-01 $8.23
2022-01-31 $8.24 0.0345
2022-01-28 $8.28
2022-01-27 $8.29
2022-01-26 $8.30
2022-01-25 $8.29
2022-01-24 $8.28
2022-01-21 $8.30
2022-01-20 $8.30
2022-01-19 $8.30
2022-01-18 $8.30
2022-01-17 $8.30
2022-01-14 $8.30
2022-01-13 $8.30
2022-01-12 $8.29
2022-01-11 $8.29
2022-01-10 $8.28
2022-01-07 $8.29
2022-01-06 $8.28
2022-01-05 $8.29
2022-01-04 $8.29
2021-12-31 $8.29 0.0365
2021-12-30 $8.32
2021-12-29 $8.32
2021-12-24 $8.32 0.0626
2021-12-23 $8.38
2021-12-22 $8.38
2021-12-21 $8.37
2021-12-20 $8.37
2021-12-17 $8.37
2021-12-16 $8.37
2021-12-15 $8.37
2021-12-14 $8.37
2021-12-13 $8.37
2021-12-10 $8.37
2021-12-09 $8.38
2021-12-08 $8.38
2021-12-07 $8.39
2021-12-06 $8.37
2021-12-03 $8.37
2021-12-02 $8.36
2021-12-01 $8.37
2021-11-30 $8.37 0.0365
2021-11-29 $8.41
2021-11-26 $8.41
2021-11-25 $8.42
2021-11-24 $8.42
2021-11-23 $8.42
2021-11-22 $8.43
2021-11-19 $8.42
2021-11-18 $8.42
2021-11-17 $8.43
2021-11-16 $8.43
2021-11-15 $8.43
2021-11-12 $8.43
2021-11-11 $8.43
2021-11-10 $8.43
2021-11-09 $8.43
2021-11-08 $8.43
2021-11-05 $8.43
2021-11-04 $8.42
2021-11-03 $8.42
2021-11-02 $8.42
2021-11-01 $8.43
2021-10-29 $8.43 0.0365
2021-10-28 $8.46
2021-10-27 $8.47
2021-10-26 $8.47
2021-10-25 $8.47
2021-10-22 $8.47
2021-10-21 $8.48
2021-10-20 $8.47
2021-10-19 $8.47
2021-10-18 $8.47
2021-10-15 $8.47
2021-10-14 $8.46
2021-10-13 $8.46
2021-10-12 $8.47
2021-10-08 $8.47
2021-10-07 $8.47
2021-10-06 $8.47
2021-10-05 $8.48
2021-10-04 $8.48

Portfolio Management

Phil Mesman, CFA

Head of Fixed Income

Sam Acton, CFA

Portfolio Manager, Fixed Income