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PERFORMANCE SOLUTIONS TOOLS RESOURCES DOCUMENTATION ABOUT US

Overview

Daily NAV
$9.00
-0.20% ($0.02)
September 30, 2022
  • Inception Date
    July 14, 2021
  • Fund Size
    $58.41MM
  • Management Fee
    0.95%
  • Performance Fee
    20.00% ^
  • Hurdle Rate
    2.00%
  • High Water Mark
    Yes
  • Fund Strategy
    Long Short Event Driven Credit
  • Fund Framework
    Alternative Mutual Fund (Simplified Prospectus)

Risk: Low to Medium

Low
Low To Moderate
Moderate
Moderate To High
High

^ of performance above a 2% hurdle rate with a perpetual high water mark

Investment Objective

The investment objective of the Picton Mahoney Fortified Special Situations Alternative Fund is to maximize total return to unitholders through income and capital appreciation by investing primarily in event-driven situations in global fixed income while mitigating capital loss through shorting and other hedging strategies.

Why Invest

Unique Source of Return
Through long short event-driven investing that aims to have low correlation to major markets.
Benefit From Proven Managers
With experience running Authentic Hedge® strategies for over a decade.
Add Hedging Tools
Designed to hedge the risks associated with income investing such as capital loss.

Performance As at August 31, 2022

Growth of $10,000

Investment value: $9,874.45 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 Special Situations Alternative Fund ETF 1.44% 1.91% -0.23% -0.49% -0.69% -1.11%
Series Picton Mahoney Fortified Special Situations Alternative Fund ETF
1 mth 1.44%
3 mths 1.91%
6 mths -0.23%
YTD -0.49%
1 yr -0.69%
3 yrs *
5 yrs *
10 yrs *
Since Inception * -1.11%

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.

Risk Measures

Risk And Return Statistics Fund Benchmark **
Annualized Return -1.11% -11.23%
Annualized Standard Deviation 3.74% 9.29%
Sharpe Ratio -0.48 -1.40
Beta 0.17
Upside Capture Ratio 17.67%
Downside Capture Ratio 11.62%
Maximum Drawdown -4.87% -15.92%
Peak Value Date of Maximum Drawdown 2022-01-27 2021-09-17
Trough Value Date of Maximum Drawdown 2022-06-29 2022-06-30

**HFRX FIXED INCOME-CREDIT INDEX (in CAD

Portfolio Allocations As at August 31, 2022

Sector Allocation

Geographic Allocation (Gross)

Credit Ratings

Top 10 Long Positions

Name Weight
Secure Energ Se 7.25% 30Dec26 6.06%
Cushman & Wakefield Us 6.75% 15May28 4.56%
Parkland Corp 3.875% 16Jun26 4.15%
Autocanada Inc 5.75% 07Feb29 4.06%
American Airlines Inc 11.75% 15Jul25 3.66%
Bank Of Montreal Frn 31Dec49 3.59%
Toronto-Dominion Bank Frn 31Dec49 3.51%
Bank Of Nova Scotia Frn 27Jul82 3.46%
Nuvista Energy Ltd 7.875% 23Jul26 3.23%
Royal Bank Of Canada Frn 24Nov80 3.22%

Exposure Breakout ±±

Name Weight
Long 136.97%
Short -43.03%
Gross 180.00%
Net 93.93%

±± 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 2.51 4.20
Credit Rating BB
Issuers 123 3541
Yield To Maturity 9.08% 8.62%

Fees

Series Management Fee Fund codes
Class A 1.95% PIC 3550
Class F 0.95% PIC 3551
ETF 0.95% PFSS

Historical Net Asset Values

Start Date

End Date

Effective Date Net Asset Value Distributions
2022-09-30 $9.00
2022-09-29 $9.01
2022-09-28 $9.04
2022-09-27 $9.04
2022-09-26 $9.05
2022-09-23 $9.04
2022-09-22 $9.05 0.0646
2022-09-21 $9.12
2022-09-20 $9.11
2022-09-19 $9.10
2022-09-16 $9.12
2022-09-15 $9.14
2022-09-14 $9.14
2022-09-13 $9.14
2022-09-12 $9.14
2022-09-09 $9.16
2022-09-08 $9.15
2022-09-07 $9.15
2022-09-06 $9.14
2022-09-02 $9.17
2022-09-01 $9.16
2022-08-31 $9.17
2022-08-30 $9.17
2022-08-29 $9.16
2022-08-26 $9.17
2022-08-25 $9.17
2022-08-24 $9.17
2022-08-23 $9.15 0.0637
2022-08-22 $9.21
2022-08-19 $9.20
2022-08-18 $9.20
2022-08-17 $9.19
2022-08-16 $9.18
2022-08-15 $9.17
2022-08-12 $9.16
2022-08-11 $9.16
2022-08-10 $9.15
2022-08-09 $9.14
2022-08-08 $9.13
2022-08-05 $9.12
2022-08-04 $9.12
2022-08-03 $9.11
2022-08-02 $9.09
2022-07-29 $9.10
2022-07-28 $9.08
2022-07-27 $9.06
2022-07-26 $9.04
2022-07-25 $9.04
2022-07-22 $9.04
2022-07-21 $9.02 0.0661
2022-07-20 $9.07
2022-07-19 $9.04
2022-07-18 $9.03
2022-07-15 $9.01
2022-07-14 $9.00
2022-07-13 $9.00
2022-07-12 $9.02
2022-07-11 $9.01
2022-07-08 $9.00
2022-07-07 $9.01
2022-07-06 $9.02
2022-07-05 $9.01
2022-07-04 $9.01
2022-06-30 $9.01
2022-06-29 $9.00
2022-06-28 $9.02
2022-06-27 $9.03
2022-06-24 $9.03
2022-06-23 $9.02
2022-06-22 $9.02 0.0623
2022-06-21 $9.10
2022-06-20 $9.09
2022-06-17 $9.10
2022-06-16 $9.11
2022-06-15 $9.14
2022-06-14 $9.14
2022-06-13 $9.15
2022-06-10 $9.16
2022-06-09 $9.15
2022-06-08 $9.15
2022-06-07 $9.14
2022-06-06 $9.15
2022-06-03 $9.17
2022-06-02 $9.17
2022-06-01 $9.18
2022-05-31 $9.19
2022-05-30 $9.19
2022-05-27 $9.19
2022-05-26 $9.19
2022-05-25 $9.16
2022-05-24 $9.17
2022-05-20 $9.19 0.0620
2022-05-19 $9.27
2022-05-18 $9.30
2022-05-17 $9.33
2022-05-16 $9.33
2022-05-13 $9.34
2022-05-12 $9.34
2022-05-11 $9.37
2022-05-10 $9.38
2022-05-09 $9.37
2022-05-06 $9.41
2022-05-05 $9.44
2022-05-04 $9.44
2022-05-03 $9.43
2022-05-02 $9.43
2022-04-29 $9.45
2022-04-28 $9.44
2022-04-27 $9.45
2022-04-26 $9.46
2022-04-25 $9.46
2022-04-22 $9.48
2022-04-21 $9.49 0.0550
2022-04-20 $9.52
2022-04-19 $9.52
2022-04-18 $9.52
2022-04-14 $9.52
2022-04-13 $9.51
2022-04-12 $9.52
2022-04-11 $9.53
2022-04-08 $9.52
2022-04-07 $9.51
2022-04-06 $9.51
2022-04-05 $9.52
2022-04-04 $9.49
2022-04-01 $9.48
2022-03-31 $9.49
2022-03-30 $9.48
2022-03-29 $9.47
2022-03-28 $9.46
2022-03-25 $9.47
2022-03-24 $9.46
2022-03-23 $9.46 0.0528
2022-03-22 $9.52
2022-03-21 $9.53
2022-03-18 $9.51
2022-03-17 $9.52
2022-03-16 $9.51
2022-03-15 $9.53
2022-03-14 $9.53
2022-03-11 $9.51
2022-03-10 $9.50
2022-03-09 $9.52
2022-03-08 $9.50
2022-03-07 $9.52
2022-03-04 $9.51
2022-03-03 $9.54
2022-03-02 $9.55
2022-03-01 $9.56
2022-02-28 $9.56
2022-02-25 $9.55
2022-02-24 $9.55
2022-02-23 $9.58
2022-02-22 $9.58
2022-02-18 $9.62
2022-02-17 $9.62 0.0465
2022-02-16 $9.68
2022-02-15 $9.70
2022-02-14 $9.69
2022-02-11 $9.70
2022-02-10 $9.71
2022-02-09 $9.70
2022-02-08 $9.71
2022-02-07 $9.72
2022-02-04 $9.71
2022-02-03 $9.71
2022-02-02 $9.71
2022-02-01 $9.71
2022-01-31 $9.72
2022-01-28 $9.74
2022-01-27 $9.74
2022-01-26 $9.74
2022-01-25 $9.72
2022-01-24 $9.71
2022-01-21 $9.72 0.0439
2022-01-20 $9.76
2022-01-19 $9.75
2022-01-18 $9.76
2022-01-17 $9.74
2022-01-14 $9.73
2022-01-13 $9.72
2022-01-12 $9.72
2022-01-11 $9.71
2022-01-10 $9.71
2022-01-07 $9.71
2022-01-06 $9.70
2022-01-05 $9.69
2022-01-04 $9.68
2021-12-31 $9.67
2021-12-30 $9.68
2021-12-29 $9.69
2021-12-24 $9.68
2021-12-23 $9.68
2021-12-22 $9.67 0.0562
2021-12-21 $9.72
2021-12-20 $9.71
2021-12-17 $9.71
2021-12-16 $9.71
2021-12-15 $9.72
2021-12-14 $9.72
2021-12-13 $9.72
2021-12-10 $9.71
2021-12-09 $9.72
2021-12-08 $9.72
2021-12-07 $9.74
2021-12-06 $9.73
2021-12-03 $9.73
2021-12-02 $9.73
2021-12-01 $9.73
2021-11-30 $9.74
2021-11-29 $9.76
2021-11-26 $9.77
2021-11-25 $9.78
2021-11-24 $9.77
2021-11-23 $9.77
2021-11-22 $9.77 0.0514
2021-11-19 $9.80
2021-11-18 $9.80
2021-11-17 $9.81
2021-11-16 $9.81
2021-11-15 $9.80
2021-11-12 $9.80
2021-11-11 $9.79
2021-11-10 $9.79
2021-11-09 $9.77
2021-11-08 $9.78
2021-11-05 $9.78
2021-11-04 $9.76
2021-11-03 $9.78
2021-11-02 $9.76
2021-11-01 $9.80
2021-10-29 $9.79
2021-10-28 $9.79
2021-10-27 $9.79
2021-10-26 $9.79
2021-10-25 $9.81
2021-10-22 $9.81
2021-10-21 $9.81 0.0537
2021-10-20 $9.85
2021-10-19 $9.84
2021-10-18 $9.84
2021-10-15 $9.84
2021-10-14 $9.83
2021-10-13 $9.85
2021-10-12 $9.86
2021-10-08 $9.86
2021-10-07 $9.86
2021-10-06 $9.87
2021-10-05 $9.87
2021-10-04 $9.86

Portfolio Management

Phil Mesman, CFA

Head of Fixed Income

Sam Acton, CFA

Portfolio Manager, Fixed Income