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PERFORMANCE SOLUTIONS TOOLS RESOURCES DOCUMENTATION ABOUT US

Overview

Daily NAV
$13.68
0.27% $0.04
September 30, 2022
  • Inception Date
    July 8, 2020
  • Fund Size
    $269.89MM
  • Management Fee
    1.95%
  • Performance Fee
    20.00% ^
  • Hurdle Rate
    2.00%
  • High Water Mark
    Yes
  • Fund Strategy
    Long Short Equity
  • 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 provide consistent long-term capital appreciation with an attractive risk-adjusted rate of return by actively investing in a portfolio comprised of long and short equity securities. The Fund invests in Canadian, U.S. and International equities, aims for less net equity market exposure than traditional long-only strategies through the use of short positions, and is designed to dampen volatility and mitigate downside risk relative to typical long-biased portfolios heavily exposed to broad market movements.

Why Invest

Equity Exposure With Less Broad Market Risk
Invest in a Fund designed to increase gross exposure to generate alpha while reducing net market exposure to decrease broad market risk.
Add Hedging Tools
Aimed to dampen volatility and seek to mitigate downside risk associated with investing in equities.
Benefit From Proven Managers
With an active approach to managing Authentic Hedge® strategies for over a decade.

Performance As at August 31, 2022

Growth of $10,000

Investment value: $13,912.50 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 Long Short Alternative Fund A -0.20% -1.02% -1.93% -3.37% -2.76% 16.63%
Series Picton Mahoney Fortified Long Short Alternative Fund A
1 mth -0.20%
3 mths -1.02%
6 mths -1.93%
YTD -3.37%
1 yr -2.76%
3 yrs *
5 yrs *
10 yrs *
Since Inception * 16.63%

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 Fortified Long Short Alternative Fund A 17.23%
Series Picton Mahoney Fortified Long Short Alternative Fund A
2021 17.23%

Risk Measures

Risk And Return Statistics Fund Benchmark **
Annualized Return 16.63% 13.59%
Annualized Standard Deviation 11.16% 13.26%
Sharpe Ratio 1.30 0.91
Beta 0.74
Upside Capture Ratio 92.83%
Downside Capture Ratio 65.39%
Maximum Drawdown -10.99% -16.32%
Peak Value Date of Maximum Drawdown 2022-03-22 2022-04-04
Trough Value Date of Maximum Drawdown 2022-07-14 2022-07-14

**S&P/TSX Composite TR Index

Portfolio Allocations As at August 31, 2022

Sector Allocation

Geographic Allocation (Gross)

Top 10 Long Positions

Name Weight
Canadian Pacific Railway Ltd. 3.97%
Toronto-Dominion Bank Com New 3.93%
Royal Bank of Canada 3.53%
Element Fleet Management Corp. 3.31%
Brookfield Asset Management Inc. Voting Shs Cl A 2.61%
Tourmaline Oil Corp. 2.51%
Trisura Group Ltd. Com New 2.48%
Waste Connections Inc. 2.40%
AltaGas Ltd. 2.39%
First Quantum Minerals Ltd. 1.88%

Exposure Breakout ±±

Name Weight
Long 125.01%
Short -68.44%
Gross 193.45%
Net 56.57%

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

Fees

Series Management Fee Fund codes
Class A 1.95% PIC 3200
Class F 0.95% PIC 3201
ETF 0.95% PFLS

Historical Net Asset Values

Start Date

End Date

Effective Date Net Asset Value Distributions
2022-09-30 $13.68
2022-09-29 $13.64
2022-09-28 $13.70
2022-09-27 $13.52
2022-09-26 $13.49
2022-09-23 $13.55
2022-09-22 $13.74
2022-09-21 $13.86
2022-09-20 $13.94
2022-09-19 $14.00
2022-09-16 $13.97
2022-09-15 $14.09
2022-09-14 $14.16
2022-09-13 $14.12
2022-09-12 $14.21
2022-09-09 $14.12
2022-09-08 $14.00
2022-09-07 $13.87
2022-09-06 $13.83
2022-09-02 $13.86
2022-09-01 $13.80
2022-08-31 $13.91
2022-08-30 $13.96
2022-08-29 $14.05
2022-08-26 $14.08
2022-08-25 $14.20
2022-08-24 $14.18
2022-08-23 $14.15
2022-08-22 $14.10
2022-08-19 $14.14
2022-08-18 $14.19
2022-08-17 $14.16
2022-08-16 $14.17
2022-08-15 $14.15
2022-08-12 $14.16
2022-08-11 $14.09
2022-08-10 $14.03
2022-08-09 $13.89
2022-08-08 $13.93
2022-08-05 $13.90
2022-08-04 $13.85
2022-08-03 $13.79
2022-08-02 $13.85
2022-07-29 $13.94
2022-07-28 $13.81
2022-07-27 $13.65
2022-07-26 $13.48
2022-07-25 $13.57
2022-07-22 $13.53
2022-07-21 $13.57
2022-07-20 $13.52
2022-07-19 $13.46
2022-07-18 $13.30
2022-07-15 $13.21
2022-07-14 $13.13
2022-07-13 $13.22
2022-07-12 $13.26
2022-07-11 $13.39
2022-07-08 $13.52
2022-07-07 $13.56
2022-07-06 $13.32
2022-07-05 $13.33
2022-07-04 $13.40
2022-06-30 $13.33
2022-06-29 $13.41
2022-06-28 $13.48
2022-06-27 $13.54
2022-06-24 $13.47
2022-06-23 $13.23
2022-06-22 $13.33
2022-06-21 $13.45
2022-06-20 $13.39
2022-06-17 $13.28
2022-06-16 $13.28
2022-06-15 $13.59
2022-06-14 $13.55
2022-06-13 $13.62
2022-06-10 $13.88
2022-06-09 $14.02
2022-06-08 $14.10
2022-06-07 $14.21
2022-06-06 $14.13
2022-06-03 $14.12
2022-06-02 $14.24
2022-06-01 $14.04
2022-05-31 $14.06
2022-05-30 $14.13
2022-05-27 $14.05
2022-05-26 $13.96
2022-05-25 $13.82
2022-05-24 $13.84
2022-05-20 $13.88
2022-05-19 $13.85
2022-05-18 $13.77
2022-05-17 $13.97
2022-05-16 $13.82
2022-05-13 $13.77
2022-05-12 $13.46
2022-05-11 $13.53
2022-05-10 $13.56
2022-05-09 $13.59
2022-05-06 $13.97
2022-05-05 $14.00
2022-05-04 $14.28
2022-05-03 $14.12
2022-05-02 $14.09
2022-04-29 $14.17
2022-04-28 $14.31
2022-04-27 $14.12
2022-04-26 $14.06
2022-04-25 $14.26
2022-04-22 $14.26
2022-04-21 $14.45
2022-04-20 $14.65
2022-04-19 $14.63
2022-04-18 $14.56
2022-04-14 $14.53
2022-04-13 $14.54
2022-04-12 $14.45
2022-04-11 $14.45
2022-04-08 $14.54
2022-04-07 $14.53
2022-04-06 $14.48
2022-04-05 $14.57
2022-04-04 $14.67
2022-04-01 $14.66
2022-03-31 $14.66
2022-03-30 $14.66
2022-03-29 $14.64
2022-03-28 $14.60
2022-03-25 $14.63
2022-03-24 $14.66
2022-03-23 $14.63
2022-03-22 $14.75
2022-03-21 $14.70
2022-03-18 $14.69
2022-03-17 $14.62
2022-03-16 $14.49
2022-03-15 $14.27
2022-03-14 $14.15
2022-03-11 $14.37
2022-03-10 $14.40
2022-03-09 $14.36
2022-03-08 $14.20
2022-03-07 $14.12
2022-03-04 $14.23
2022-03-03 $14.23
2022-03-02 $14.22
2022-03-01 $14.10
2022-02-28 $14.19
2022-02-25 $14.16
2022-02-24 $14.06
2022-02-23 $13.97
2022-02-22 $14.04
2022-02-18 $14.06
2022-02-17 $14.14
2022-02-16 $14.22
2022-02-15 $14.27
2022-02-14 $14.20
2022-02-11 $14.30
2022-02-10 $14.42
2022-02-09 $14.39
2022-02-08 $14.24
2022-02-07 $14.19
2022-02-04 $14.20
2022-02-03 $14.11
2022-02-02 $14.24
2022-02-01 $14.23
2022-01-31 $14.07
2022-01-28 $13.91
2022-01-27 $13.82
2022-01-26 $13.85
2022-01-25 $13.77
2022-01-24 $13.87
2022-01-21 $13.89
2022-01-20 $14.11
2022-01-19 $14.15
2022-01-18 $14.14
2022-01-17 $14.24
2022-01-14 $14.17
2022-01-13 $14.20
2022-01-12 $14.25
2022-01-11 $14.22
2022-01-10 $14.05
2022-01-07 $14.12
2022-01-06 $14.17
2022-01-05 $14.18
2022-01-04 $14.36
2021-12-31 $14.40
2021-12-30 $14.38
2021-12-29 $14.39
2021-12-24 $14.33
2021-12-23 $14.31
2021-12-22 $14.24
2021-12-21 $14.11
2021-12-20 $13.88
2021-12-17 $13.94
2021-12-16 $13.89
2021-12-15 $13.93
2021-12-14 $13.86
2021-12-13 $13.94
2021-12-10 $14.00
2021-12-09 $14.05
2021-12-08 $14.13
2021-12-07 $14.26
2021-12-06 $14.10
2021-12-03 $13.98
2021-12-02 $14.07
2021-12-01 $13.97
2021-11-30 $14.12
2021-11-29 $14.32
2021-11-26 $14.29
2021-11-25 $14.50
2021-11-24 $14.47
2021-11-23 $14.42
2021-11-22 $14.45
2021-11-19 $14.56
2021-11-18 $14.56
2021-11-17 $14.59
2021-11-16 $14.62
2021-11-15 $14.63
2021-11-12 $14.68
2021-11-11 $14.62
2021-11-10 $14.58
2021-11-09 $14.71
2021-11-08 $14.71
2021-11-05 $14.63
2021-11-04 $14.60
2021-11-03 $14.55
2021-11-02 $14.54
2021-11-01 $14.59
2021-10-29 $14.55
2021-10-28 $14.59
2021-10-27 $14.50
2021-10-26 $14.63
2021-10-25 $14.66
2021-10-22 $14.63
2021-10-21 $14.59
2021-10-20 $14.55
2021-10-19 $14.49
2021-10-18 $14.48
2021-10-15 $14.48
2021-10-14 $14.42
2021-10-13 $14.31
2021-10-12 $14.22
2021-10-08 $14.21
2021-10-07 $14.24
2021-10-06 $14.06
2021-10-05 $14.08
2021-10-04 $13.96

Portfolio Management

David Picton

President, CEO and Portfolio Manager, Canadian Equities

Jeffrey Bradacs, CFA

Portfolio Manager, Canadian Equities

Michael Kimmel, CFA

Portfolio Manager, U.S. Equities

Michael Kuan, CFA

Portfolio Manager, International Equities