Overview
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Inception DateSeptember 27, 2018
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Fund Size$32.71MM
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Management Fee0.95%
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Performance Fee20.00% ^
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Hurdle Rate2.00%
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High Water MarkYes
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Fund StrategyMulti-Asset Strategy
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Fund FrameworkAlternative Mutual Fund (Simplified Prospectus)
Risk: Low to Medium
^ of performance above a 2% hurdle rate with a perpetual high water mark
Investment Objective
Why Invest
That is engineered to seek returns in a manner differentiated from traditional “balanced” / “diversified” strategies.
Benefit From Proven Managers
With experience running Authentic Hedge® strategies for over a decade.
Add Hedging Tools
That aim to lower their overall risk profile, thus enhancing the quality of returns garnered.
Performance As at October 31, 2024
Growth of $10,000
Compound Returns †
| 1 mth | 3 mths | 6 mths | YTD | 1 yr | 3 yrs * | 5 yrs * | 10 yrs * | Since Inception * | |
|---|---|---|---|---|---|---|---|---|---|
| Picton Mahoney Fortified Multi-Strategy Alternative Fund F | -0.57% | 2.53% | 6.02% | 11.78% | 17.65% | 3.02% | 5.25% | — | 5.25% |
| Benchmark 1 | -0.79% | 1.67% | 6.25% | 9.92% | 17.91% | 4.12% | 6.54% | — | 6.25% |
| Series | Picton Mahoney Fortified Multi-Strategy Alternative Fund F | Benchmark |
|---|---|---|
| 1 mth | -0.57% | -0.79% |
| 3 mths | 2.53% | 1.67% |
| 6 mths | 6.02% | 6.25% |
| YTD | 11.78% | 9.92% |
| 1 yr | 17.65% | 17.91% |
| 3 yrs * | 3.02% | 4.12% |
| 5 yrs * | 5.25% | 6.54% |
| 10 yrs * | — | — |
| Since Inception * | 5.25% | 6.25% |
† 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.
1 5% FTSE Canada 30 Day T-Bill Index, 40% MSCI World 100% Hedged to CAD Net Total Return Index, 5% LMBA Gold Price, 40% ICE BofA Global Broad Market Index (Hedge to CAD), 10% S&P GSCI Canadian Dollar Hedged Index TR
Calendar Returns
| 2019 | 2020 | 2021 | 2022 | 2023 | |
|---|---|---|---|---|---|
| Picton Mahoney Fortified Multi-Strategy Alternative Fund F | 9.94% | 7.36% | 10.06% | -4.83% | 2.01% |
| Benchmark 1 | 16.36% | 6.42% | 12.10% | -8.93% | 11.88% |
| Series | Picton Mahoney Fortified Multi-Strategy Alternative Fund F | Benchmark |
|---|---|---|
| 2019 | 9.94% | 16.36% |
| 2020 | 7.36% | 6.42% |
| 2021 | 10.06% | 12.10% |
| 2022 | -4.83% | -8.93% |
| 2023 | 2.01% | 11.88% |
1 5% FTSE Canada 30 Day T-Bill Index, 40% MSCI World 100% Hedged to CAD Net Total Return Index, 5% LMBA Gold Price, 40% ICE BofA Global Broad Market Index (Hedge to CAD), 10% S&P GSCI Canadian Dollar Hedged Index TR
Risk Measures
Risk And Return Statistics
Fund
Benchmark
**
Annualized Return
5.25%
6.25%
Annualized Standard Deviation
9.41%
9.06%
Sharpe Ratio
0.36
0.48
Beta
0.92
—
Upside Capture Ratio
84.29%
—
Downside Capture Ratio
83.36%
—
Maximum Drawdown
-22.24%
-19.67%
Peak Value Date of Maximum Drawdown
2020-02-21
2020-02-19
Trough Value Date of Maximum Drawdown
2020-03-18
2020-03-23
**5% FTSE Canada 30 Day T-Bill Index, 40% MSCI World 100% Hedged to CAD Net Total Return Index, 5% LMBA Gold Price, 40% ICE BofA Global Broad Market Index (Hedge to CAD), 10% S&P GSCI Canadian Dollar Hedged Index TR
Risk Measures
| Risk And Return Statistics | Fund | Benchmark ** |
|---|---|---|
| Annualized Return | 5.25% | 6.25% |
| Annualized Standard Deviation | 9.41% | 9.06% |
| Sharpe Ratio | 0.36 | 0.48 |
| Beta | 0.92 | — |
| Upside Capture Ratio | 84.29% | — |
| Downside Capture Ratio | 83.36% | — |
| Maximum Drawdown | -22.24% | -19.67% |
| Peak Value Date of Maximum Drawdown | 2020-02-21 | 2020-02-19 |
| Trough Value Date of Maximum Drawdown | 2020-03-18 | 2020-03-23 |
**5% FTSE Canada 30 Day T-Bill Index, 40% MSCI World 100% Hedged to CAD Net Total Return Index, 5% LMBA Gold Price, 40% ICE BofA Global Broad Market Index (Hedge to CAD), 10% S&P GSCI Canadian Dollar Hedged Index TR
Portfolio Allocations As at October 31, 2024
Dollar Allocation
| Colours | Name | Weight |
|---|---|---|
| Interest Rates | 40.70% | |
| High Yield Credit Spreads | 8.00% | |
| Investment Grade Credit Spreads | 11.60% | |
| Precious Metals | 4.50% | |
| Industrial Metals | 9.30% | |
| Energy | 7.40% | |
| Grains | 1.80% | |
| Developed Market Equities | 8.70% | |
| Emerging Market Equities | 4.70% | |
| Momentum | 10.23% | |
| Value | 6.69% | |
| Quality | 9.85% | |
| Picton Mahoney Fortified Market Neutral Alternative Fund | 33.00% | |
| Picton Mahoney Fortified Income Alternative Fund | 0.13% | |
| Picton Mahoney Fortified Arbitrage Plus Alternative Fund | 11.91% | |
| Picton Mahoney Fortified Special Situation Alternative Fund | 31.99% | |
| Discretionary Market Hedges | 1.77% |
Risk Allocation
| Colours | Name | Weight |
|---|---|---|
| Interest Rates | 2.99% | |
| High Yield Credit Spreads | 0.46% | |
| Investment Grade Credit Spreads | 0.25% | |
| Precious Metals | 0.55% | |
| Industrial Metals | 1.99% | |
| Energy | 2.53% | |
| Grains | 0.33% | |
| Developed Market Equities | 1.06% | |
| Emerging Market Equities | 0.56% | |
| Momentum | 0.57% | |
| Value | 0.37% | |
| Quality | 0.55% | |
| Picton Mahoney Fortified Market Neutral Alternative Fund | 1.24% | |
| Picton Mahoney Fortified Income Alternative Fund | 0.00% | |
| Picton Mahoney Fortified Arbitrage Plus Alternative Fund | 0.29% | |
| Picton Mahoney Fortified Special Situation Alternative Fund | 0.88% | |
| Discretionary Market Hedges | 1.27% |
Fees
| Series | Management Fee | Fund codes |
|---|---|---|
| ETF | 0.95% | PFMS |
| Class A | 1.95% | PIC 3600 |
| Class F | 0.95% | PIC 3601 |
| Class FT | 0.95% | PIC 3603 |
Portfolio Management
Portfolio Manager, Multi-Asset Strategies
Portfolio Manager, Multi-Asset Strategies
Portfolio Manager & Director, Quantitative Research/Risk