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PERFORMANCE SOLUTIONS TOOLS RESOURCES DOCUMENTATION ABOUT US

Overview

Daily NAV
$12.63
0.02% $0.00
September 30, 2022
  • Inception Date
    January 10, 2020
  • Fund Size
    $206.24MM
  • Management Fee
    0.95%
  • High Water Mark
    Yes
  • Fund Strategy
    Merger Arbitrage
  • Fund Framework
    Hedge Fund (Offering Memorandum)

Risk: Medium

Low
Low To Moderate
Moderate
Moderate To High
High

^ of the amount above a perpetual high watermark

Investment Objective

The investment objective of the Fund is to generate consistent, positive returns, with low volatility and low correlation to equity markets. The Fund utilizes leverage to enhance returns and intends to gain 200% exposure to the Picton Mahoney Arbitrage Fund, net of borrowing and/or dealer costs. The underlying fund primarily employs arbitrage strategies, which are specialized investment techniques designed to profit from the successful completion of mergers, takeovers, tender offers, leveraged buyouts, spin-offs, liquidations, and other corporate reorganizations. The most common arbitrage activity the Manager intends to use is merger arbitrage, which involves purchasing the shares of an announced acquisition target company at a discount to the expected merger consideration.

Why Invest

Diversify Your Portfolio
With a Fund that seeks low correlation to the overall equity market, low volatility and aims to avoid large drawdowns.
Benefit From Proven Managers
Experienced running Authentic Hedge®merger arbitrage strategies for over 6 years.
Lower Interest Rate Risk
In your portfolio wit ha Fund that may benefit from rising rates, unlike most fixed income and dividend yielding securities.

Performance As at August 31, 2022

Growth of $10,000

Investment value: $15,096.91 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 Arbitrage Plus Fund V 0.18% 1.18% 0.31% -0.11% 2.47% 16.89%
Series Picton Mahoney Arbitrage Plus Fund V
1 mth 0.18%
3 mths 1.18%
6 mths 0.31%
YTD -0.11%
1 yr 2.47%
3 yrs *
5 yrs *
10 yrs *
Since Inception * 16.89%

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

2021
Picton Mahoney Arbitrage Plus Fund V 10.76%
Series Picton Mahoney Arbitrage Plus Fund V
2021 10.76%

Risk Measures

Risk And Return Statistics Fund Benchmark **
Annualized Return 16.89% 6.47%
Annualized Standard Deviation 12.58% 8.47%
Sharpe Ratio 1.29 0.77
Beta 1.01
Upside Capture Ratio 159.03%
Downside Capture Ratio 73.15%
Maximum Drawdown -5.74% -10.81%
Peak Value Date of Maximum Drawdown 2020-02-28 2020-02-28
Trough Value Date of Maximum Drawdown 2020-03-31 2020-03-31

**HFRI ED Merger Arbitrage Index (Hedged to CAD)

Portfolio Allocations As at August 31, 2022

Geographic Allocation (Gross)

Exposure Breakout ±±

Name Weight
Long 178.46%
Short -7.95%
Gross 186.41%
Net 170.51%

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

Portfolio Details

Name Value
Average Market Cap $14.70 Billions
# of Deals 29
# of SPACs 287

Fees

Series Management Fee Fund codes
Class A 2.00% PIC 1900
Class F 1.00% PIC 1901
Class V 0.95% PIC 1905

Historical Net Asset Values

Start Date

End Date

Effective Date Net Asset Value Distributions
2022-09-30 $12.63
2022-08-31 $12.63
2022-07-29 $12.60
2022-06-30 $12.40
2022-05-31 $12.48
2022-04-29 $12.65
2022-03-31 $12.68
2022-02-28 $12.59
2022-01-31 $12.53
2021-12-31 $12.64 2.0615
2021-11-30 $14.68
2021-10-29 $14.62

Portfolio Management

Craig Chilton, CFA

Portfolio Manager, Merger Arbitrage

Tom Savage, CFA

Portfolio Manager, Merger Arbitrage