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PERFORMANCE SOLUTIONS TOOLS RESOURCES DOCUMENTATION ABOUT US

Overview

Daily NAV
$13.53
0.03% $0.00
November 25, 2022
  • Inception Date
    September 27, 2018
  • Fund Size
    $901.24MM
  • Management Fee
    0.95%
  • Performance Fee
    20.00% ^
  • Hurdle Rate
    2.00%
  • High Water Mark
    Yes
  • Fund Strategy
    Market Neutral 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 in any market condition. The investment strategy of the Fund is to employ a true market neutral equity strategy by investing in long and short positions (typically 100% long equity exposure and 100% short equity and derivatives exposure), aiming for an average equity market beta of 0, while offering diversification and serving as a complement to typical long-biased portfolios heavily exposed to the equity market.

Why Invest

Manage Risk
By investing in a Fund designed to mitigate equity market volatility and, most importantly, reduce the severe impacts of deep drawdowns.
Benefit From Proven Managers
With experience running Authentic Hedge® strategies for over a decade.
Lower Correlation
To the overall equity market with a Fund that seeks a low correlation target.

Performance As at October 31, 2022

Growth of $10,000

Investment value: $13,609.63 at October 31, 2022

Compound Returns

1 mth 3 mths 6 mths YTD 1 yr 3 yrs * 5 yrs * 10 yrs * Since Inception *
Picton Mahoney Fortified Market Neutral Alternative Fund F 0.06% 1.98% 2.24% 3.71% 2.65% 8.64% 7.82%
Series Picton Mahoney Fortified Market Neutral Alternative Fund F
1 mth 0.06%
3 mths 1.98%
6 mths 2.24%
YTD 3.71%
1 yr 2.65%
3 yrs * 8.64%
5 yrs *
10 yrs *
Since Inception * 7.82%

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

2019 2020 2021
Picton Mahoney Fortified Market Neutral Alternative Fund F 6.07% 17.06% 5.91%
Series Picton Mahoney Fortified Market Neutral Alternative Fund F
2019 6.07%
2020 17.06%
2021 5.91%

Risk Measures

Risk And Return Statistics Fund Benchmark **
Annualized Return 7.82% 7.76%
Annualized Standard Deviation 5.28% 16.52%
Sharpe Ratio 1.26 0.49
Beta 0.17
Upside Capture Ratio 30.21%
Downside Capture Ratio 0.49%
Maximum Drawdown -8.70% -37.20%
Peak Value Date of Maximum Drawdown 2020-02-14 2020-02-20
Trough Value Date of Maximum Drawdown 2020-03-18 2020-03-23

**S&P/TSX Composite TR Index

Portfolio Allocations As at October 31, 2022

Sector Allocation

Geographic Allocation (Net)

Top 10 Long Positions

Name Weight
Element Fleet Management Corp. 3.13%
Toronto-Dominion Bank Com New 2.90%
Canadian Pacific Railway Ltd. 2.32%
Trisura Group Ltd. Com New 2.24%
Bank of Montreal 2.11%
AltaGas Ltd. 1.70%
WSP Global Inc. 1.65%
Royal Bank of Canada 1.58%
Freehold Royalties Ltd. 1.55%
Waste Connections Inc. 1.50%

Exposure Breakout ±±

Name Weight
Long 98.36%
Short -83.74%
Gross 182.09%
Net 14.62%

±± 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
ETF 0.95% PFMN
Class A 1.95% PIC 3100
Class F 0.95% PIC 3101
Class FT 0.95% PIC 3103

Historical Net Asset Values

Start Date

End Date

Effective Date Net Asset Value Distributions
2022-11-25 $13.53
2022-11-24 $13.53
2022-11-23 $13.51
2022-11-22 $13.50
2022-11-21 $13.47
2022-11-18 $13.46
2022-11-17 $13.44
2022-11-16 $13.47
2022-11-15 $13.44
2022-11-14 $13.43
2022-11-11 $13.42
2022-11-10 $13.49
2022-11-09 $13.49
2022-11-08 $13.53
2022-11-07 $13.51
2022-11-04 $13.48
2022-11-03 $13.47
2022-11-02 $13.42
2022-11-01 $13.43
2022-10-31 $13.44
2022-10-28 $13.46
2022-10-27 $13.48
2022-10-26 $13.49
2022-10-25 $13.45
2022-10-24 $13.41
2022-10-21 $13.41
2022-10-20 $13.41
2022-10-19 $13.43
2022-10-18 $13.45
2022-10-17 $13.44
2022-10-14 $13.42
2022-10-13 $13.42
2022-10-12 $13.42
2022-10-11 $13.40
2022-10-07 $13.46
2022-10-06 $13.51
2022-10-05 $13.51
2022-10-04 $13.49
2022-10-03 $13.46
2022-09-30 $13.44
2022-09-29 $13.39
2022-09-28 $13.37
2022-09-27 $13.32
2022-09-26 $13.30
2022-09-23 $13.30
2022-09-22 $13.32
2022-09-21 $13.36
2022-09-20 $13.36
2022-09-19 $13.35
2022-09-16 $13.36
2022-09-15 $13.40
2022-09-14 $13.42
2022-09-13 $13.42
2022-09-12 $13.36
2022-09-09 $13.35
2022-09-08 $13.34
2022-09-07 $13.29
2022-09-06 $13.32
2022-09-02 $13.30
2022-09-01 $13.26
2022-08-31 $13.30
2022-08-30 $13.29
2022-08-29 $13.30
2022-08-26 $13.30
2022-08-25 $13.27
2022-08-24 $13.31
2022-08-23 $13.30
2022-08-22 $13.26
2022-08-19 $13.23
2022-08-18 $13.20
2022-08-17 $13.20
2022-08-16 $13.17
2022-08-15 $13.17
2022-08-12 $13.19
2022-08-11 $13.19
2022-08-10 $13.17
2022-08-09 $13.16
2022-08-08 $13.16
2022-08-05 $13.15
2022-08-04 $13.13
2022-08-03 $13.09
2022-08-02 $13.16
2022-07-29 $13.18
2022-07-28 $13.15
2022-07-27 $13.08
2022-07-26 $13.04
2022-07-25 $13.07
2022-07-22 $13.06
2022-07-21 $13.07
2022-07-20 $13.05
2022-07-19 $13.02
2022-07-18 $13.00
2022-07-15 $12.96
2022-07-14 $12.94
2022-07-13 $12.95
2022-07-12 $12.96
2022-07-11 $13.03
2022-07-08 $13.07
2022-07-07 $13.09
2022-07-06 $13.00
2022-07-05 $13.00
2022-07-04 $13.03
2022-06-30 $13.01
2022-06-29 $13.01
2022-06-28 $13.03
2022-06-27 $13.05
2022-06-24 $13.02
2022-06-23 $12.96
2022-06-22 $12.99
2022-06-21 $13.03
2022-06-20 $13.03
2022-06-17 $12.99
2022-06-16 $12.98
2022-06-15 $13.06
2022-06-14 $13.06
2022-06-13 $13.08
2022-06-10 $13.12
2022-06-09 $13.12
2022-06-08 $13.10
2022-06-07 $13.13
2022-06-06 $13.11
2022-06-03 $13.12
2022-06-02 $13.14
2022-06-01 $13.08
2022-05-31 $13.07
2022-05-30 $13.08
2022-05-27 $13.05
2022-05-26 $13.06
2022-05-25 $13.02
2022-05-24 $13.06
2022-05-20 $13.12
2022-05-19 $13.11
2022-05-18 $13.06
2022-05-17 $13.08
2022-05-16 $13.05
2022-05-13 $13.02
2022-05-12 $12.89
2022-05-11 $12.92
2022-05-10 $12.91
2022-05-09 $12.91
2022-05-06 $13.04
2022-05-05 $13.04
2022-05-04 $13.10
2022-05-03 $13.07
2022-05-02 $13.10
2022-04-29 $13.15
2022-04-28 $13.14
2022-04-27 $13.09
2022-04-26 $13.06
2022-04-25 $13.12
2022-04-22 $13.11
2022-04-21 $13.12
2022-04-20 $13.19
2022-04-19 $13.17
2022-04-18 $13.17
2022-04-14 $13.16
2022-04-13 $13.15
2022-04-12 $13.13
2022-04-11 $13.12
2022-04-08 $13.15
2022-04-07 $13.13
2022-04-06 $13.10
2022-04-05 $13.12
2022-04-04 $13.14
2022-04-01 $13.17
2022-03-31 $13.19
2022-03-30 $13.13
2022-03-29 $13.10
2022-03-28 $13.11
2022-03-25 $13.15
2022-03-24 $13.19
2022-03-23 $13.19
2022-03-22 $13.23
2022-03-21 $13.23
2022-03-18 $13.25
2022-03-17 $13.23
2022-03-16 $13.21
2022-03-15 $13.13
2022-03-14 $13.05
2022-03-11 $13.19
2022-03-10 $13.16
2022-03-09 $13.13
2022-03-08 $13.08
2022-03-07 $13.00
2022-03-04 $13.03
2022-03-03 $13.02
2022-03-02 $13.01
2022-03-01 $12.97
2022-02-28 $13.00
2022-02-25 $12.99
2022-02-24 $13.00
2022-02-23 $12.95
2022-02-22 $12.95
2022-02-18 $12.93
2022-02-17 $12.96
2022-02-16 $12.95
2022-02-15 $12.97
2022-02-14 $12.97
2022-02-11 $13.01
2022-02-10 $13.07
2022-02-09 $13.00
2022-02-08 $12.95
2022-02-07 $12.95
2022-02-04 $12.96
2022-02-03 $12.93
2022-02-02 $12.94
2022-02-01 $12.94
2022-01-31 $12.86
2022-01-28 $12.83
2022-01-27 $12.82
2022-01-26 $12.82
2022-01-25 $12.78
2022-01-24 $12.81
2022-01-21 $12.83
2022-01-20 $12.91
2022-01-19 $12.90
2022-01-18 $12.85
2022-01-17 $12.85
2022-01-14 $12.83
2022-01-13 $12.85
2022-01-12 $12.85
2022-01-11 $12.85
2022-01-10 $12.77
2022-01-07 $12.82
2022-01-06 $12.85
2022-01-05 $12.86
2022-01-04 $12.92
2021-12-31 $12.96
2021-12-30 $12.93
2021-12-29 $12.94
2021-12-24 $12.92
2021-12-23 $12.91
2021-12-22 $12.89
2021-12-21 $12.82
2021-12-20 $12.75
2021-12-17 $12.74
2021-12-16 $12.70
2021-12-15 $12.70
2021-12-14 $12.69
2021-12-13 $12.72
2021-12-10 $12.73
2021-12-09 $12.78
2021-12-08 $12.80
2021-12-07 $12.89
2021-12-06 $12.85
2021-12-03 $12.81
2021-12-02 $12.84
2021-12-01 $12.84
2021-11-30 $12.89
2021-11-29 $12.93

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