Overview

Daily NAV
$10.86
0.13% $0.01
November 5, 2024
  • Inception Date
    July 13, 2021
  • Fund Size
    1.40 billion
  • Management Fee
    0.95%
  • Performance Fee
    20.00% ^
  • Hurdle Rate
    2.00%
  • High Water Mark
    Yes
  • Distributions
    Monthly; targeting a rate of 4% per annum
  • Fund Strategy
    Market Neutral Equity
  • Fund Framework
    Alternative Mutual Fund (Simplified Prospectus)

Risk: Low to Medium

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 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 September 30, 2024

Growth of $10,000

Investment value: $12,224.93 at September 30, 2024

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 FT 0.76% 2.46% 6.12% 10.85% 9.70% 6.47% 6.44%
Series Picton Mahoney Fortified Market Neutral Alternative Fund FT
1 mth 0.76%
3 mths 2.46%
6 mths 6.12%
YTD 10.85%
1 yr 9.70%
3 yrs * 6.47%
5 yrs *
10 yrs *
Since Inception * 6.44%

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

2022 2023
Picton Mahoney Fortified Market Neutral Alternative Fund FT 5.60% 2.86%
Series Picton Mahoney Fortified Market Neutral Alternative Fund FT
2022 5.60%
2023 2.86%

Risk Measures

Risk And Return Statistics Fund Benchmark **
Annualized Return 6.44% 8.70%
Annualized Standard Deviation 3.05% 13.38%
Sharpe Ratio 1.00 0.45
Beta 0.02
Upside Capture Ratio 17.75%
Downside Capture Ratio -12.56%
Maximum Drawdown -3.49% -16.32%
Peak Value Date of Maximum Drawdown 2021-10-26 2022-04-04
Trough Value Date of Maximum Drawdown 2021-12-14 2022-07-14

**S&P/TSX Composite TR Index

Portfolio Allocations As at September 30, 2024

Sector Allocation

Geographic Allocation (Net)

Top 10 Long Positions

Name Weight
Toronto-Dominion Bank Com New 3.08%
Canadian Pacific Kansas City Limited 2.89%
Royal Bank of Canada 2.74%
Canadian Imperial Bank of Commerce 2.35%
Suncor Energy Inc. 2.15%
Manulife Financial Corporation 2.15%
Element Fleet Management Corp. 2.11%
NVIDIA Corp. 2.11%
Waste Connections Inc. 2.02%
AltaGas Ltd. 1.83%

Exposure Breakout ±±

Name Weight
Long 127.63%
Short -111.16%
Gross 238.79%
Net 16.47%

±± 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
2024-11-05 $10.86
2024-11-04 $10.85
2024-11-01 $10.86
2024-10-31 $10.84 0.0333
2024-10-30 $10.91
2024-10-29 $10.90
2024-10-28 $10.88
2024-10-25 $10.89
2024-10-24 $10.89
2024-10-23 $10.91
2024-10-22 $10.92
2024-10-21 $10.91
2024-10-18 $10.89
2024-10-17 $10.88
2024-10-16 $10.88
2024-10-15 $10.88
2024-10-11 $10.89
2024-10-10 $10.87
2024-10-09 $10.85
2024-10-08 $10.83
2024-10-07 $10.82
2024-10-04 $10.80
2024-10-03 $10.80
2024-10-02 $10.78
2024-10-01 $10.77
2024-09-30 $10.75 0.0333
2024-09-27 $10.76
2024-09-26 $10.81
2024-09-25 $10.81
2024-09-24 $10.79
2024-09-23 $10.80
2024-09-20 $10.81
2024-09-19 $10.79
2024-09-18 $10.77
2024-09-17 $10.76
2024-09-16 $10.78
2024-09-13 $10.79
2024-09-12 $10.79
2024-09-11 $10.77
2024-09-10 $10.73
2024-09-09 $10.71
2024-09-06 $10.69
2024-09-05 $10.70
2024-09-04 $10.69
2024-09-03 $10.68
2024-08-30 $10.70 0.0333
2024-08-29 $10.71
2024-08-28 $10.69
2024-08-27 $10.71
2024-08-26 $10.72
2024-08-23 $10.72
2024-08-22 $10.72
2024-08-21 $10.71
2024-08-20 $10.70
2024-08-19 $10.71
2024-08-16 $10.73
2024-08-15 $10.74
2024-08-14 $10.72
2024-08-13 $10.67
2024-08-12 $10.68
2024-08-09 $10.65
2024-08-08 $10.61
2024-08-07 $10.59
2024-08-06 $10.61
2024-08-02 $10.56
2024-08-01 $10.60
2024-07-31 $10.58 0.0333
2024-07-30 $10.57
2024-07-29 $10.58
2024-07-26 $10.60
2024-07-25 $10.64
2024-07-24 $10.67
2024-07-23 $10.66
2024-07-22 $10.62
2024-07-19 $10.59
2024-07-18 $10.53
2024-07-17 $10.54
2024-07-16 $10.59
2024-07-15 $10.62
2024-07-12 $10.62
2024-07-11 $10.62
2024-07-10 $10.60
2024-07-09 $10.58
2024-07-08 $10.61
2024-07-05 $10.59
2024-07-04 $10.64
2024-07-03 $10.64
2024-07-02 $10.61
2024-06-28 $10.59 0.0333
2024-06-27 $10.63
2024-06-26 $10.61
2024-06-25 $10.61
2024-06-24 $10.59
2024-06-21 $10.58
2024-06-20 $10.59
2024-06-19 $10.63
2024-06-18 $10.63
2024-06-17 $10.61
2024-06-14 $10.63
2024-06-13 $10.61
2024-06-12 $10.63
2024-06-11 $10.57
2024-06-10 $10.61
2024-06-07 $10.58
2024-06-06 $10.58
2024-06-05 $10.59
2024-06-04 $10.55
2024-06-03 $10.52
2024-05-31 $10.51 0.0333
2024-05-30 $10.59
2024-05-29 $10.60
2024-05-28 $10.59
2024-05-27 $10.57
2024-05-24 $10.56
2024-05-23 $10.54
2024-05-22 $10.51
2024-05-21 $10.55
2024-05-17 $10.54
2024-05-16 $10.51
2024-05-15 $10.50
2024-05-14 $10.47
2024-05-13 $10.48
2024-05-10 $10.52
2024-05-09 $10.53
2024-05-08 $10.53
2024-05-07 $10.52
2024-05-06 $10.53
2024-05-03 $10.49
2024-05-02 $10.47
2024-05-01 $10.46
2024-04-30 $10.45 0.0333
2024-04-29 $10.48
2024-04-26 $10.51
2024-04-25 $10.48
2024-04-24 $10.42
2024-04-23 $10.44
2024-04-22 $10.40
2024-04-19 $10.41
2024-04-18 $10.45
2024-04-17 $10.43
2024-04-16 $10.45
2024-04-15 $10.42
2024-04-12 $10.41
2024-04-11 $10.40
2024-04-10 $10.42
2024-04-09 $10.37
2024-04-08 $10.40
2024-04-05 $10.42
2024-04-04 $10.38
2024-04-03 $10.38
2024-04-02 $10.36
2024-04-01 $10.35
2024-03-28 $10.32 0.0333
2024-03-27 $10.35
2024-03-26 $10.39
2024-03-25 $10.38
2024-03-22 $10.37
2024-03-21 $10.37
2024-03-20 $10.35
2024-03-19 $10.35
2024-03-18 $10.35
2024-03-15 $10.34
2024-03-14 $10.31
2024-03-13 $10.30
2024-03-12 $10.31
2024-03-11 $10.28
2024-03-08 $10.32
2024-03-07 $10.35
2024-03-06 $10.33
2024-03-05 $10.33
2024-03-04 $10.33
2024-03-01 $10.32
2024-02-29 $10.28 0.0333
2024-02-28 $10.30
2024-02-27 $10.31
2024-02-26 $10.33
2024-02-23 $10.31
2024-02-22 $10.30
2024-02-21 $10.24
2024-02-20 $10.25
2024-02-16 $10.27
2024-02-15 $10.24
2024-02-14 $10.23
2024-02-13 $10.19
2024-02-12 $10.18
2024-02-09 $10.21
2024-02-08 $10.18
2024-02-07 $10.23
2024-02-06 $10.22
2024-02-05 $10.26
2024-02-02 $10.26
2024-02-01 $10.24
2024-01-31 $10.23 0.0333
2024-01-30 $10.25
2024-01-29 $10.22
2024-01-26 $10.23
2024-01-25 $10.22
2024-01-24 $10.21
2024-01-23 $10.19
2024-01-22 $10.19
2024-01-19 $10.19
2024-01-18 $10.17
2024-01-17 $10.16
2024-01-16 $10.18
2024-01-15 $10.14
2024-01-12 $10.13
2024-01-11 $10.09
2024-01-10 $10.06
2024-01-09 $10.03
2024-01-08 $10.01
2024-01-05 $10.00
2024-01-04 $9.99
2024-01-03 $9.98
2024-01-02 $9.95
2023-12-29 $9.98 0.0337
2023-12-28 $9.98
2023-12-27 $9.98
2023-12-22 $9.97
2023-12-21 $9.96
2023-12-20 $9.94
2023-12-19 $9.96
2023-12-18 $9.97
2023-12-15 $9.94
2023-12-14 $9.97
2023-12-13 $10.04
2023-12-12 $10.04
2023-12-11 $10.04
2023-12-08 $10.07
2023-12-07 $10.04
2023-12-06 $10.03
2023-12-05 $10.04
2023-12-04 $10.02
2023-12-01 $10.06
2023-11-30 $10.07 0.0337
2023-11-29 $10.09
2023-11-28 $10.11
2023-11-27 $10.13
2023-11-24 $10.12
2023-11-23 $10.13
2023-11-22 $10.12
2023-11-21 $10.11
2023-11-20 $10.14
2023-11-17 $10.11
2023-11-16 $10.12
2023-11-15 $10.11
2023-11-14 $10.14
2023-11-13 $10.14
2023-11-10 $10.14
2023-11-09 $10.13
2023-11-08 $10.13
2023-11-07 $10.12

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