Overview

Daily NAV
$9.88
-0.10% ($0.01)
July 19, 2024
  • Inception Date
    July 10, 2019
  • Fund Size
    1.08 billion
  • Management Fee
    0.95%
  • Performance Fee
    20.00% ^
  • Hurdle Rate
    2.00%
  • High Water Mark
    Yes
  • Distributions
    Monthly
  • Fund Strategy
    Long Short Credit
  • Fund Framework
    Alternative Mutual Fund (Simplified Prospectus)

Risk: Low

Low
Low to Medium
Medium
Medium 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 June 30, 2024

Growth of $10,000

Investment value: $12,502.67 at June 28, 2024

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 F 0.77% 1.86% 3.58% 3.58% 7.22% 2.38% 4.60%
Series Picton Mahoney Fortified Income Alternative Fund F
1 mth 0.77%
3 mths 1.86%
6 mths 3.58%
YTD 3.58%
1 yr 7.22%
3 yrs * 2.38%
5 yrs *
10 yrs *
Since Inception * 4.60%

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 2022 2023
Picton Mahoney Fortified Income Alternative Fund F 8.74% 3.77% -3.30% 6.79%
Series Picton Mahoney Fortified Income Alternative Fund F
2020 8.74%
2021 3.77%
2022 -3.30%
2023 6.79%

Risk Measures

Risk And Return Statistics Fund Benchmark **
Annualized Return 4.60% 2.13%
Annualized Standard Deviation 4.87% 8.89%
Sharpe Ratio 0.52 0.03
Beta 0.47
Upside Capture Ratio 61.64%
Downside Capture Ratio 25.00%
Maximum Drawdown -11.58% -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 BofA Global High Yield Index / 25% ICE BofA Global Corporate Index (TR) (Hedged to CAD)

Portfolio Allocations As at June 30, 2024

Sector Allocation

Geographic Allocation (Net)

Security Type Allocation

Top 10 Long Positions

Name Weight
Parkland Corp 4.375% 26Mar29 2.45%
Royal Bank of Canada Frn 24Nov80 2.29%
Prime Healthcare Services Inc 7.25% 01Nov25 2.13%
Toronto-Dominion Bank Frn 31Dec49 2.03%
Acadia Healthcare Co Inc 5.50% 01Jul28 1.83%
Manitoulin USD Frn 10Nov27 1.81%
Mattr Corp 7.25% 02Apr31 1.80%
Enbridge Inc Frn 19Jan82 1.78%
Secure Energy Services In 6.75% 22Mar29 1.73%
Rogers Communications Inc Frn 17Dec81 1.72%

Fundamental Metrics

Fund Benchmark
Weighted Average Modified Duration 1.65 4.05
Credit Rating BB+
Issuers 162 22071
Yield To Maturity 6.62% 7.00%

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
2024-07-19 $9.88
2024-07-18 $9.89
2024-07-17 $9.88
2024-07-16 $9.87
2024-07-15 $9.87
2024-07-12 $9.87
2024-07-11 $9.86
2024-07-10 $9.85
2024-07-09 $9.85
2024-07-08 $9.86
2024-07-05 $9.85
2024-07-04 $9.84
2024-07-03 $9.84
2024-07-02 $9.83
2024-06-28 $9.85
2024-06-27 $9.84
2024-06-26 $9.84
2024-06-25 $9.84
2024-06-24 $9.84
2024-06-21 $9.83
2024-06-20 $9.83 0.0300
2024-06-19 $9.84
2024-06-18 $9.84
2024-06-17 $9.84
2024-06-14 $9.85
2024-06-13 $9.85
2024-06-12 $9.84
2024-06-11 $9.83
2024-06-10 $9.83
2024-06-07 $9.83
2024-06-06 $9.83
2024-06-05 $9.84
2024-06-04 $9.83
2024-06-03 $9.82
2024-05-31 $9.80
2024-05-30 $9.79
2024-05-29 $9.79
2024-05-28 $9.79
2024-05-27 $9.78
2024-05-24 $9.78
2024-05-23 $9.79 0.0270
2024-05-22 $9.81
2024-05-21 $9.82
2024-05-17 $9.80
2024-05-16 $9.81
2024-05-15 $9.80
2024-05-14 $9.78
2024-05-13 $9.78
2024-05-10 $9.77
2024-05-09 $9.78
2024-05-08 $9.78
2024-05-07 $9.78
2024-05-06 $9.77
2024-05-03 $9.77
2024-05-02 $9.76
2024-05-01 $9.75
2024-04-30 $9.74
2024-04-29 $9.74
2024-04-26 $9.72
2024-04-25 $9.72
2024-04-24 $9.73
2024-04-23 $9.74
2024-04-22 $9.73 0.0315
2024-04-19 $9.77
2024-04-18 $9.77
2024-04-17 $9.77
2024-04-16 $9.77
2024-04-15 $9.76
2024-04-12 $9.77
2024-04-11 $9.75
2024-04-10 $9.76
2024-04-09 $9.76
2024-04-08 $9.75
2024-04-05 $9.75
2024-04-04 $9.76
2024-04-03 $9.75
2024-04-02 $9.76
2024-04-01 $9.76
2024-03-28 $9.75
2024-03-27 $9.76
2024-03-26 $9.75
2024-03-25 $9.75
2024-03-22 $9.75
2024-03-21 $9.73
2024-03-20 $9.74 0.0240
2024-03-19 $9.76
2024-03-18 $9.75
2024-03-15 $9.75
2024-03-14 $9.75
2024-03-13 $9.74
2024-03-12 $9.74
2024-03-11 $9.75
2024-03-08 $9.75
2024-03-07 $9.74
2024-03-06 $9.74
2024-03-05 $9.74
2024-03-04 $9.72
2024-03-01 $9.73
2024-02-29 $9.72
2024-02-28 $9.71
2024-02-27 $9.69
2024-02-26 $9.70
2024-02-23 $9.69
2024-02-22 $9.68
2024-02-21 $9.68 0.0249
2024-02-20 $9.70
2024-02-16 $9.68
2024-02-15 $9.68
2024-02-14 $9.68
2024-02-13 $9.68
2024-02-12 $9.68
2024-02-09 $9.67
2024-02-08 $9.67
2024-02-07 $9.69
2024-02-06 $9.69
2024-02-05 $9.68
2024-02-02 $9.70
2024-02-01 $9.72
2024-01-31 $9.71
2024-01-30 $9.70
2024-01-29 $9.69
2024-01-26 $9.68
2024-01-25 $9.68
2024-01-24 $9.67
2024-01-23 $9.67 0.0367
2024-01-22 $9.70
2024-01-19 $9.68
2024-01-18 $9.69
2024-01-17 $9.68
2024-01-16 $9.69
2024-01-15 $9.69
2024-01-12 $9.68
2024-01-11 $9.67
2024-01-10 $9.67
2024-01-09 $9.67
2024-01-08 $9.66
2024-01-05 $9.67
2024-01-04 $9.68
2024-01-03 $9.69
2024-01-02 $9.67
2023-12-29 $9.68
2023-12-28 $9.67
2023-12-27 $9.65
2023-12-22 $9.64
2023-12-21 $9.64 0.0608
2023-12-20 $9.73
2023-12-19 $9.70
2023-12-18 $9.68
2023-12-15 $9.69
2023-12-14 $9.68
2023-12-13 $9.65
2023-12-12 $9.66
2023-12-11 $9.65
2023-12-08 $9.65
2023-12-07 $9.67
2023-12-06 $9.67
2023-12-05 $9.66
2023-12-04 $9.63
2023-12-01 $9.63
2023-11-30 $9.61
2023-11-29 $9.61
2023-11-28 $9.59
2023-11-27 $9.57
2023-11-24 $9.55
2023-11-23 $9.55
2023-11-22 $9.55 0.0602
2023-11-21 $9.60
2023-11-20 $9.58
2023-11-17 $9.58
2023-11-16 $9.59
2023-11-15 $9.58
2023-11-14 $9.58
2023-11-13 $9.54
2023-11-10 $9.55
2023-11-09 $9.56
2023-11-08 $9.57
2023-11-07 $9.56
2023-11-06 $9.55
2023-11-03 $9.55
2023-11-02 $9.51
2023-11-01 $9.47
2023-10-31 $9.45
2023-10-30 $9.43
2023-10-27 $9.46
2023-10-26 $9.45
2023-10-25 $9.44
2023-10-24 $9.45
2023-10-23 $9.45 0.0494
2023-10-20 $9.50
2023-10-19 $9.48
2023-10-18 $9.49
2023-10-17 $9.49
2023-10-16 $9.52
2023-10-13 $9.53
2023-10-12 $9.54
2023-10-11 $9.53
2023-10-10 $9.53
2023-10-06 $9.48
2023-10-05 $9.51
2023-10-04 $9.52
2023-10-03 $9.53
2023-10-02 $9.55
2023-09-29 $9.55
2023-09-28 $9.55
2023-09-27 $9.55
2023-09-26 $9.56
2023-09-25 $9.57
2023-09-22 $9.57
2023-09-21 $9.57 0.0456
2023-09-20 $9.62
2023-09-19 $9.60
2023-09-18 $9.61
2023-09-15 $9.61
2023-09-14 $9.61
2023-09-13 $9.61
2023-09-12 $9.61
2023-09-11 $9.61
2023-09-08 $9.61
2023-09-07 $9.61
2023-09-06 $9.61
2023-09-05 $9.62
2023-09-01 $9.62
2023-08-31 $9.61
2023-08-30 $9.61
2023-08-29 $9.60
2023-08-28 $9.60
2023-08-25 $9.60
2023-08-24 $9.61
2023-08-23 $9.61 0.0420
2023-08-22 $9.65
2023-08-21 $9.65
2023-08-18 $9.66
2023-08-17 $9.67
2023-08-16 $9.66
2023-08-15 $9.66
2023-08-14 $9.66
2023-08-11 $9.67
2023-08-10 $9.67
2023-08-09 $9.67
2023-08-08 $9.67
2023-08-04 $9.67
2023-08-03 $9.65
2023-08-02 $9.66
2023-08-01 $9.65
2023-07-31 $9.64
2023-07-28 $9.64
2023-07-27 $9.65
2023-07-26 $9.65
2023-07-25 $9.65
2023-07-24 $9.65
2023-07-21 $9.66 0.0448

Portfolio Management

Phil Mesman, CFA

Portfolio Manager, Co-Head Fixed Income

Sam Acton, CFA

Portfolio Manager, Co-Head Fixed Income