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PERFORMANCE SOLUTIONS TOOLS RESOURCES DOCUMENTATION ABOUT US

Overview

Daily NAV
$9.33
-0.05% ($0.00)
September 30, 2022
  • Inception Date
    July 10, 2019
  • Fund Size
    1.10 billion
  • Management Fee
    1.95%
  • Performance Fee
    20.00% ^
  • Hurdle Rate
    2.00%
  • High Water Mark
    Yes
  • Fund Strategy
    Long Short 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 Fund is to maximize total return to unit holders through income and capital appreciation by investing primarily in corporate bonds while mitigating capital loss through shorting and other hedging strategies.

Why Invest

Diversify Your Portfolio
With a solution that aims to provide income and capital gains with low correlation to other income assets.
Benefit From Proven Managers
Experienced running Authentic Hedge® strategies for over a decade.
Mitigate Income Investing Risks
With a fund designed with a tool kit to hedge the risks with income investing.

Performance As at August 31, 2022

Growth of $10,000

Investment value: $10,984.56 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 Alternative Fund A -0.02% 0.06% -2.27% -3.52% -3.84% 2.85% 3.03%
Series Picton Mahoney Fortified Income Alternative Fund A
1 mth -0.02%
3 mths 0.06%
6 mths -2.27%
YTD -3.52%
1 yr -3.84%
3 yrs * 2.85%
5 yrs *
10 yrs *
Since Inception * 3.03%

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

2020 2021
Picton Mahoney Fortified Income Alternative Fund A 7.53% 2.78%
Series Picton Mahoney Fortified Income Alternative Fund A
2020 7.53%
2021 2.78%

Risk Measures

Risk And Return Statistics Fund Benchmark **
Annualized Return 3.03% -0.71%
Annualized Standard Deviation 5.63% 9.93%
Sharpe Ratio 0.48 -0.10
Beta 0.50
Upside Capture Ratio 63.20%
Downside Capture Ratio 30.21%
Maximum Drawdown -11.65% -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 3.15%
Horizon Therapeutics Usa 5.5% 01Aug27 2.40%
Cushman & Wakefield Us 6.75% 15May28 2.36%
Autocanada Inc 5.75% 07Feb29 2.16%
Parkland Corp 3.875% 16Jun26 2.16%
Freeport Minerals Corp 7.125% 01Nov27 2.08%
Northriver Midstream Fin 5.625% 15Feb26 1.95%
Rogers Communications Inc Frn 17Dec81 1.93%
American Airlines Inc 11.75% 15Jul25 1.88%
Bank Of Montreal Frn 31Dec49 1.88%

Exposure Breakout ±±

Name Weight
Long 109.48%
Short -23.23%
Gross 132.70%
Net 86.25%

±± 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 2.70 4.88
Credit Rating BB
Issuers 163 21308
Yield To Maturity 7.47% 6.35%

Fees

Series Management Fee Fund codes
Class A 1.95% PIC 3500
Class F 0.95% PIC 3501
ETF 0.95% PFIA

Historical Net Asset Values

Start Date

End Date

Effective Date Net Asset Value Distributions
2022-09-30 $9.33
2022-09-29 $9.33
2022-09-28 $9.36
2022-09-27 $9.36
2022-09-26 $9.37
2022-09-23 $9.37
2022-09-22 $9.39 0.0331
2022-09-21 $9.43
2022-09-20 $9.43
2022-09-19 $9.42
2022-09-16 $9.44
2022-09-15 $9.46
2022-09-14 $9.47
2022-09-13 $9.48
2022-09-12 $9.49
2022-09-09 $9.50
2022-09-08 $9.48
2022-09-07 $9.48
2022-09-06 $9.47
2022-09-02 $9.49
2022-09-01 $9.48
2022-08-31 $9.49
2022-08-30 $9.50
2022-08-29 $9.50
2022-08-26 $9.52
2022-08-25 $9.52
2022-08-24 $9.51
2022-08-23 $9.50 0.0360
2022-08-22 $9.54
2022-08-19 $9.55
2022-08-18 $9.56
2022-08-17 $9.55
2022-08-16 $9.55
2022-08-15 $9.55
2022-08-12 $9.55
2022-08-11 $9.55
2022-08-10 $9.54
2022-08-09 $9.53
2022-08-08 $9.53
2022-08-05 $9.53
2022-08-04 $9.54
2022-08-03 $9.53
2022-08-02 $9.52
2022-07-29 $9.53
2022-07-28 $9.50
2022-07-27 $9.47
2022-07-26 $9.46
2022-07-25 $9.46
2022-07-22 $9.46
2022-07-21 $9.43 0.0348
2022-07-20 $9.44
2022-07-19 $9.42
2022-07-18 $9.41
2022-07-15 $9.40
2022-07-14 $9.38
2022-07-13 $9.38
2022-07-12 $9.40
2022-07-11 $9.39
2022-07-08 $9.38
2022-07-07 $9.39
2022-07-06 $9.38
2022-07-05 $9.38
2022-07-04 $9.37
2022-06-30 $9.37
2022-06-29 $9.36
2022-06-28 $9.40
2022-06-27 $9.41
2022-06-24 $9.41
2022-06-23 $9.40
2022-06-22 $9.39 0.0316
2022-06-21 $9.44
2022-06-20 $9.43
2022-06-17 $9.44
2022-06-16 $9.45
2022-06-15 $9.49
2022-06-14 $9.47
2022-06-13 $9.50
2022-06-10 $9.53
2022-06-09 $9.54
2022-06-08 $9.54
2022-06-07 $9.53
2022-06-06 $9.55
2022-06-03 $9.57
2022-06-02 $9.57
2022-06-01 $9.58
2022-05-31 $9.59
2022-05-30 $9.59
2022-05-27 $9.59
2022-05-26 $9.58
2022-05-25 $9.53
2022-05-24 $9.53
2022-05-20 $9.54 0.0324
2022-05-19 $9.59
2022-05-18 $9.61
2022-05-17 $9.64
2022-05-16 $9.64
2022-05-13 $9.65
2022-05-12 $9.65
2022-05-11 $9.68
2022-05-10 $9.69
2022-05-09 $9.68
2022-05-06 $9.73
2022-05-05 $9.76
2022-05-04 $9.76
2022-05-03 $9.75
2022-05-02 $9.76
2022-04-29 $9.77
2022-04-28 $9.77
2022-04-27 $9.78
2022-04-26 $9.79
2022-04-25 $9.79
2022-04-22 $9.83
2022-04-21 $9.83 0.0317
2022-04-20 $9.85
2022-04-19 $9.86
2022-04-18 $9.86
2022-04-14 $9.86
2022-04-13 $9.85
2022-04-12 $9.86
2022-04-11 $9.87
2022-04-08 $9.86
2022-04-07 $9.86
2022-04-06 $9.86
2022-04-05 $9.87
2022-04-04 $9.84
2022-04-01 $9.84
2022-03-31 $9.85
2022-03-30 $9.85
2022-03-29 $9.84
2022-03-28 $9.82
2022-03-25 $9.84
2022-03-24 $9.84
2022-03-23 $9.83 0.0323
2022-03-22 $9.87
2022-03-21 $9.89
2022-03-18 $9.87
2022-03-17 $9.87
2022-03-16 $9.86
2022-03-15 $9.86
2022-03-14 $9.86
2022-03-11 $9.86
2022-03-10 $9.86
2022-03-09 $9.88
2022-03-08 $9.87
2022-03-07 $9.88
2022-03-04 $9.88
2022-03-03 $9.90
2022-03-02 $9.91
2022-03-01 $9.92
2022-02-28 $9.92
2022-02-25 $9.92
2022-02-24 $9.89
2022-02-23 $9.93
2022-02-22 $9.94
2022-02-18 $9.97
2022-02-17 $9.97 0.0234
2022-02-16 $10.00
2022-02-15 $10.02
2022-02-14 $10.02
2022-02-11 $10.04
2022-02-10 $10.05
2022-02-09 $10.05
2022-02-08 $10.06
2022-02-07 $10.07
2022-02-04 $10.07
2022-02-03 $10.08
2022-02-02 $10.08
2022-02-01 $10.08
2022-01-31 $10.09
2022-01-28 $10.11
2022-01-27 $10.12
2022-01-26 $10.12
2022-01-25 $10.10
2022-01-24 $10.10
2022-01-21 $10.11 0.0404
2022-01-20 $10.15
2022-01-19 $10.15
2022-01-18 $10.15
2022-01-17 $10.14
2022-01-14 $10.14
2022-01-13 $10.13
2022-01-12 $10.13
2022-01-11 $10.13
2022-01-10 $10.12
2022-01-07 $10.13
2022-01-06 $10.12
2022-01-05 $10.12
2022-01-04 $10.12
2021-12-31 $10.11
2021-12-30 $10.11
2021-12-29 $10.12
2021-12-24 $10.11
2021-12-23 $10.12
2021-12-22 $10.11 0.0421
2021-12-21 $10.14
2021-12-20 $10.14
2021-12-17 $10.14
2021-12-16 $10.14
2021-12-15 $10.14
2021-12-14 $10.14
2021-12-13 $10.14
2021-12-10 $10.14
2021-12-09 $10.14
2021-12-08 $10.14
2021-12-07 $10.16
2021-12-06 $10.15
2021-12-03 $10.14
2021-12-02 $10.14
2021-12-01 $10.15
2021-11-30 $10.15
2021-11-29 $10.16
2021-11-26 $10.16
2021-11-25 $10.18
2021-11-24 $10.17
2021-11-23 $10.17
2021-11-22 $10.18 0.0281
2021-11-19 $10.20
2021-11-18 $10.20
2021-11-17 $10.20
2021-11-16 $10.20
2021-11-15 $10.20
2021-11-12 $10.20
2021-11-11 $10.19
2021-11-10 $10.19
2021-11-09 $10.18
2021-11-08 $10.19
2021-11-05 $10.19
2021-11-04 $10.17
2021-11-03 $10.18
2021-11-02 $10.18
2021-11-01 $10.20
2021-10-29 $10.19
2021-10-28 $10.19
2021-10-27 $10.19
2021-10-26 $10.20
2021-10-25 $10.20
2021-10-22 $10.20
2021-10-21 $10.20 0.0232
2021-10-20 $10.22
2021-10-19 $10.21
2021-10-18 $10.21
2021-10-15 $10.21
2021-10-14 $10.20
2021-10-13 $10.21
2021-10-12 $10.22
2021-10-08 $10.22
2021-10-07 $10.22
2021-10-06 $10.22
2021-10-05 $10.23
2021-10-04 $10.22

Portfolio Management

Phil Mesman, CFA

Head of Fixed Income

Sam Acton, CFA

Portfolio Manager, Fixed Income