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PERFORMANCE SOLUTIONS TOOLS RESOURCES DOCUMENTATION ABOUT US

Overview

Daily NAV
$10.46
0.71% $0.07
September 30, 2022
  • Inception Date
    January 29, 2021
  • Fund Size
    $23.88MM
  • Management Fee
    0.50% *
  • Performance Fee
    17.50% ^
  • Hurdle Rate
    2.00%
  • High Water Mark
    Yes
  • Fund Strategy
    Multi-Asset Strategy
  • Fund Framework
    Hedge Fund (Offering Memorandum)

Risk: Medium

Low
Low To Moderate
Moderate
Moderate To High
High

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

* The Manager has elected to waive a portion of the Management Fee relating to each of the Class A Units and Class F Units of the Fund effective as of March 19, 2021 and continuing until December 31, 2022 (the “Management Fee Waiver”). After taking into account the Management Fee Waiver, the Management Fee for the Class A Units will be 0.375% per quarter (1.50% per annum) and the Management Fee for the Class F Units will be 0.125% per quarter (0.50% per annum). The Manager, in its sole discretion, may elect to extend the Management Fee Waiver beyond December 31, 2022.

Investment Objective

The Fund’s objective is to provide consistent long-term capital appreciation and an attractive risk-adjusted rate of return. 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 in One Fund
Investor returns will likely be harder to meet moving forward using only traditional asset classes. The Fund will seek to deliver exposure to a variety of Authentic Hedge® fund strategies that have historically been uncorrelated to traditional equity and fixed-income investments.
Risk-Controlled and Liquid
The strategy will 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 August 31, 2022

Growth of $10,000

Investment value: $10,593.72 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 Absolute Alpha Fund F 2.01% 3.60% 1.53% 1.18% 2.01% 3.71%
Series Picton Mahoney Absolute Alpha Fund F
1 mth 2.01%
3 mths 3.60%
6 mths 1.53%
YTD 1.18%
1 yr 2.01%
3 yrs *
5 yrs *
10 yrs *
Since Inception * 3.71%

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 3.71% 10.10%
Annualized Standard Deviation 5.47% 12.37%
Sharpe Ratio 0.57 0.82
Beta 0.11
Upside Capture Ratio 10.07%
Downside Capture Ratio -12.16%
Maximum Drawdown -5.05% -15.62%
Peak Value Date of Maximum Drawdown 2022-04-29 2022-03-25
Trough Value Date of Maximum Drawdown 2022-06-30 2022-07-15

**S&P/TSX Composite TR Index

Portfolio Allocations As at August 31, 2022

Dollar Allocation

Colours Name Weight
Market Neutral Strategy 68.00%
Arbitrage Strategy 38.00%
Special Situation Strategy 94.00%
Momentum 8.75%
Value 5.00%
Quality 6.25%
Discretionary Market Hedges 1.00%
Tail Risk Hedge 2.00%

Risk Allocation

Colours Name Weight
Market Neutral Strategy 3.83%
Arbitrage Strategy 4.35%
Special Situation Strategy 6.98%
Momentum 0.55%
Value 0.32%
Quality 0.35%
Discretionary Market Hedges 0.70%
Tail Risk Hedge 0.07%

Fees

Series Management Fee Fund codes
Class A 1.50% PIC 1350
Class F 0.50% PIC 1351

Historical Net Asset Values

Start Date

End Date

Effective Date Net Asset Value Distributions
2022-09-30 $10.46
2022-09-23 $10.38
2022-09-16 $10.40
2022-09-09 $10.42
2022-09-02 $10.42
2022-08-31 $10.45
2022-08-26 $10.46
2022-08-19 $10.38
2022-08-12 $10.25
2022-08-05 $10.22
2022-07-29 $10.24
2022-07-22 $10.11
2022-07-15 $9.97
2022-07-08 $9.99
2022-06-30 $9.96
2022-06-24 $9.97
2022-06-17 $9.97
2022-06-10 $10.11
2022-06-03 $10.08
2022-05-31 $10.09
2022-05-27 $10.08
2022-05-20 $10.18
2022-05-13 $10.25
2022-05-06 $10.38
2022-04-29 $10.49
2022-04-22 $10.46
2022-04-14 $10.44
2022-04-08 $10.43
2022-04-01 $10.36
2022-03-31 $10.39
2022-03-25 $10.33
2022-03-18 $10.41
2022-03-11 $10.36
2022-03-04 $10.27
2022-02-28 $10.29
2022-02-25 $10.30
2022-02-18 $10.32
2022-02-11 $10.38
2022-02-04 $10.43
2022-01-31 $10.36
2022-01-28 $10.38
2022-01-21 $10.28
2022-01-14 $10.24
2022-01-07 $10.25
2021-12-31 $10.33 0.1433
2021-12-24 $10.46
2021-12-17 $10.31
2021-12-10 $10.31
2021-12-03 $10.39
2021-11-30 $10.47
2021-11-26 $10.56
2021-11-19 $10.55
2021-11-12 $10.54
2021-11-05 $10.50
2021-10-29 $10.53
2021-10-22 $10.55
2021-10-15 $10.47
2021-10-08 $10.46

Portfolio Management

Neil Simons

Portfolio Manager, Multi-Asset Strategies

David Picton

President, CEO and Portfolio Manager, Canadian Equities

Phil Mesman, CFA

Head of Fixed Income

Jeffrey Bradacs, CFA

Portfolio Manager, Canadian Equities

Craig Chilton, CFA

Portfolio Manager, Merger Arbitrage

Tom Savage, CFA

Portfolio Manager, Merger Arbitrage