Overview

Daily NAV
$9.03
-0.08% ($0.01)
April 18, 2024
  • Inception Date
    July 13, 2021
  • Fund Size
    $61.64MM
  • Management Fee
    0.95%
  • Performance Fee
    20.00% ^
  • Hurdle Rate
    2.00%
  • High Water Mark
    Yes
  • Distributions
    Monthly; targeting a rate of 5% per annum
  • Fund Strategy
    Multi-Asset Strategy
  • Fund Framework
    Alternative Mutual Fund (Simplified Prospectus)

Risk: Low to Medium

Low
Low To Moderate
Moderate
Moderate To High
High
Geographic Allocation
Growth of $10,000
$10,389.50

^ 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 over a full market cycle. The investment strategy of the Fund is to utilize a proprietary multi-layered investment process based on modern portfolio construction techniques to determine its allocation, utilizing a comprehensive set of traditional and alternative assets classes, factor risk premia strategies and alpha processes. A discretionary hedge layer is available to tactically enhance the Fund’s return.

Why Invest

An All-In-One Solution
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 March 31, 2024

Growth of $10,000

Investment value: $10,389.50 at March 28, 2024

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 FT 3.84% 5.02% 8.84% 5.02% 5.41% — — — 1.42%
Series Picton Mahoney Fortified Multi-Strategy Alternative Fund FT
1 mth 3.84%
3 mths 5.02%
6 mths 8.84%
YTD 5.02%
1 yr 5.41%
3 yrs * —
5 yrs * —
10 yrs * —
Since Inception * 1.42%

† 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 Multi-Strategy Alternative Fund FT -4.82% 2.06%
Series Picton Mahoney Fortified Multi-Strategy Alternative Fund FT
2022 -4.82%
2023 2.06%

Risk Measures

Risk And Return Statistics Fund Benchmark **
Annualized Return 1.42% 3.88%
Annualized Standard Deviation 9.11% 9.28%
Sharpe Ratio -0.14 0.13
Beta 0.89 —
Upside Capture Ratio 81.84% —
Downside Capture Ratio 96.92% —
Maximum Drawdown -13.61% -13.10%
Peak Value Date of Maximum Drawdown 2022-03-24 2021-11-09
Trough Value Date of Maximum Drawdown 2022-09-26 2022-09-30

**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 February 29, 2024

Dollar Allocation

Colours Name Weight
Interest Rates 47.20%
High Yield Credit Spreads 15.20%
Investment Grade Credit Spreads 12.40%
Precious Metals 7.60%
Industrial Metals 7.10%
Energy 6.10%
Grains 1.70%
Developed Market Equities 9.20%
Emerging Market Equities 4.60%
Momentum 8.44%
Value 5.55%
Quality 8.21%
Picton Mahoney Fortified Market Neutral Alternative Fund 29.93%
Picton Mahoney Fortified Income Alternative Fund 11.36%
Picton Mahoney Fortified Arbitrage Plus Alternative Fund 20.00%
Picton Mahoney Fortified Special Situation Alternative Fund 16.69%
Discretionary Market Hedges 1.86%

Risk Allocation

Colours Name Weight
Interest Rates 3.34%
High Yield Credit Spreads 0.87%
Investment Grade Credit Spreads 0.27%
Precious Metals 0.91%
Industrial Metals 1.53%
Energy 2.14%
Grains 0.33%
Developed Market Equities 1.14%
Emerging Market Equities 0.55%
Momentum 0.41%
Value 0.27%
Quality 0.40%
Picton Mahoney Fortified Market Neutral Alternative Fund 1.08%
Picton Mahoney Fortified Income Alternative Fund 0.28%
Picton Mahoney Fortified Arbitrage Plus Alternative Fund 0.54%
Picton Mahoney Fortified Special Situation Alternative Fund 0.50%
Discretionary Market Hedges 1.33%

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

Historical Net Asset Values

Start Date

End Date

Effective Date Net Asset Value Distributions
2024-04-18 $9.03 —
2024-04-17 $9.04 —
2024-04-16 $9.06 —
2024-04-15 $9.08 —
2024-04-12 $9.12 —
2024-04-11 $9.12 —
2024-04-10 $9.13 —
2024-04-09 $9.15 —
2024-04-08 $9.14 —
2024-04-05 $9.16 —
2024-04-04 $9.09 —
2024-04-03 $9.09 —
2024-04-02 $9.03 —
2024-04-01 $9.02 —
2024-03-28 $9.02 0.0362
2024-03-27 $9.01 —
2024-03-26 $8.99 —
2024-03-25 $9.00 —
2024-03-22 $9.00 —
2024-03-21 $9.01 —
2024-03-20 $8.98 —
2024-03-19 $8.95 —
2024-03-18 $8.94 —
2024-03-15 $8.92 —
2024-03-14 $8.90 —
2024-03-13 $8.92 —
2024-03-12 $8.90 —
2024-03-11 $8.90 —
2024-03-08 $8.88 —
2024-03-07 $8.91 —
2024-03-06 $8.85 —
2024-03-05 $8.80 —
2024-03-04 $8.81 —
2024-03-01 $8.81 —
2024-02-29 $8.72 0.0362
2024-02-28 $8.73 —
2024-02-27 $8.74 —
2024-02-26 $8.74 —
2024-02-23 $8.74 —
2024-02-22 $8.73 —
2024-02-21 $8.66 —
2024-02-20 $8.66 —
2024-02-16 $8.67 —
2024-02-15 $8.67 —
2024-02-14 $8.62 —
2024-02-13 $8.57 —
2024-02-12 $8.63 —
2024-02-09 $8.62 —
2024-02-08 $8.62 —
2024-02-07 $8.66 —
2024-02-06 $8.65 —
2024-02-05 $8.62 —
2024-02-02 $8.68 —
2024-02-01 $8.74 —
2024-01-31 $8.70 0.0362
2024-01-30 $8.74 —
2024-01-29 $8.71 —
2024-01-26 $8.69 —
2024-01-25 $8.68 —
2024-01-24 $8.64 —
2024-01-23 $8.62 —
2024-01-22 $8.61 —
2024-01-19 $8.60 —
2024-01-18 $8.60 —
2024-01-17 $8.55 —
2024-01-16 $8.63 —
2024-01-15 $8.68 —
2024-01-12 $8.66 —
2024-01-11 $8.63 —
2024-01-10 $8.60 —
2024-01-09 $8.61 —
2024-01-08 $8.60 —
2024-01-05 $8.61 —
2024-01-04 $8.61 —
2024-01-03 $8.64 —
2024-01-02 $8.64 —
2023-12-29 $8.69 0.0374
2023-12-28 $8.75 —
2023-12-27 $8.79 —
2023-12-22 $8.72 —
2023-12-21 $8.73 —
2023-12-20 $8.70 —
2023-12-19 $8.72 —
2023-12-18 $8.67 —
2023-12-15 $8.64 —
2023-12-14 $8.65 —
2023-12-13 $8.59 —
2023-12-12 $8.52 —
2023-12-11 $8.52 —
2023-12-08 $8.55 —
2023-12-07 $8.56 —
2023-12-06 $8.53 —
2023-12-05 $8.56 —
2023-12-04 $8.56 —
2023-12-01 $8.63 —
2023-11-30 $8.58 0.0374
2023-11-29 $8.63 —
2023-11-28 $8.62 —
2023-11-27 $8.58 —
2023-11-24 $8.58 —
2023-11-23 $8.61 —
2023-11-22 $8.62 —
2023-11-21 $8.63 —
2023-11-20 $8.63 —
2023-11-17 $8.59 —
2023-11-16 $8.56 —
2023-11-15 $8.59 —
2023-11-14 $8.61 —
2023-11-13 $8.48 —
2023-11-10 $8.46 —
2023-11-09 $8.44 —
2023-11-08 $8.46 —
2023-11-07 $8.48 —
2023-11-06 $8.50 —
2023-11-03 $8.53 —
2023-11-02 $8.48 —
2023-11-01 $8.37 —
2023-10-31 $8.33 0.0374
2023-10-30 $8.36 —
2023-10-27 $8.40 —
2023-10-26 $8.38 —
2023-10-25 $8.39 —
2023-10-24 $8.41 —
2023-10-23 $8.41 —
2023-10-20 $8.43 —
2023-10-19 $8.44 —
2023-10-18 $8.46 —
2023-10-17 $8.49 —
2023-10-16 $8.51 —
2023-10-13 $8.54 —
2023-10-12 $8.47 —
2023-10-11 $8.52 —
2023-10-10 $8.51 —
2023-10-06 $8.38 —
2023-10-05 $8.34 —
2023-10-04 $8.33 —
2023-10-03 $8.37 —
2023-10-02 $8.43 —
2023-09-29 $8.50 0.0374
2023-09-28 $8.56 —
2023-09-27 $8.55 —
2023-09-26 $8.57 —
2023-09-25 $8.60 —
2023-09-22 $8.63 —
2023-09-21 $8.60 —
2023-09-20 $8.65 —
2023-09-19 $8.62 —
2023-09-18 $8.66 —
2023-09-15 $8.68 —
2023-09-14 $8.70 —
2023-09-13 $8.65 —
2023-09-12 $8.64 —
2023-09-11 $8.64 —
2023-09-08 $8.61 —
2023-09-07 $8.62 —
2023-09-06 $8.64 —
2023-09-05 $8.65 —
2023-09-01 $8.70 —
2023-08-31 $8.66 0.0374
2023-08-30 $8.71 —
2023-08-29 $8.71 —
2023-08-28 $8.64 —
2023-08-25 $8.62 —
2023-08-24 $8.60 —
2023-08-23 $8.64 —
2023-08-22 $8.54 —
2023-08-21 $8.53 —
2023-08-18 $8.54 —
2023-08-17 $8.50 —
2023-08-16 $8.52 —
2023-08-15 $8.54 —
2023-08-14 $8.61 —
2023-08-11 $8.64 —
2023-08-10 $8.69 —
2023-08-09 $8.71 —
2023-08-08 $8.71 —
2023-08-04 $8.70 —
2023-08-03 $8.66 —
2023-08-02 $8.67 —
2023-08-01 $8.74 —
2023-07-31 $8.78 0.0374
2023-07-28 $8.80 —
2023-07-27 $8.74 —
2023-07-26 $8.79 —
2023-07-25 $8.79 —
2023-07-24 $8.76 —
2023-07-21 $8.73 —
2023-07-20 $8.71 —
2023-07-19 $8.76 —
2023-07-18 $8.74 —
2023-07-17 $8.68 —
2023-07-14 $8.69 —
2023-07-13 $8.71 —
2023-07-12 $8.63 —
2023-07-11 $8.57 —
2023-07-10 $8.53 —
2023-07-07 $8.51 —
2023-07-06 $8.49 —
2023-07-05 $8.56 —
2023-07-04 $8.58 —
2023-06-30 $8.59 0.0374
2023-06-29 $8.57 —
2023-06-28 $8.59 —
2023-06-27 $8.59 —
2023-06-26 $8.60 —
2023-06-23 $8.59 —
2023-06-22 $8.62 —
2023-06-21 $8.69 —
2023-06-20 $8.68 —
2023-06-19 $8.70 —
2023-06-16 $8.71 —
2023-06-15 $8.71 —
2023-06-14 $8.62 —
2023-06-13 $8.60 —
2023-06-12 $8.60 —
2023-06-09 $8.58 —
2023-06-08 $8.59 —
2023-06-07 $8.55 —
2023-06-06 $8.60 —
2023-06-05 $8.63 —
2023-06-02 $8.62 —
2023-06-01 $8.63 —
2023-05-31 $8.57 0.0374
2023-05-30 $8.60 —
2023-05-29 $8.64 —
2023-05-26 $8.65 —
2023-05-25 $8.59 —
2023-05-24 $8.66 —
2023-05-23 $8.69 —
2023-05-19 $8.77 —
2023-05-18 $8.75 —
2023-05-17 $8.80 —
2023-05-16 $8.79 —
2023-05-15 $8.89 —
2023-05-12 $8.85 —
2023-05-11 $8.87 —
2023-05-10 $8.92 —
2023-05-09 $8.91 —
2023-05-08 $8.91 —
2023-05-05 $8.91 —
2023-05-04 $8.91 —
2023-05-03 $8.91 —
2023-05-02 $8.94 —
2023-05-01 $8.94 —
2023-04-28 $8.98 0.0374
2023-04-27 $8.97 —
2023-04-26 $8.98 —
2023-04-25 $9.02 —
2023-04-24 $9.05 —
2023-04-21 $9.03 —
2023-04-20 $9.04 —

Portfolio Management

Neil Simons

Portfolio Manager, Multi-Asset Strategies

Michael White, CFA

Portfolio Manager, Multi-Asset Strategies

Dashmeet Singh, CFA

Portfolio Manager & Director, Quantitative Research/Risk

    This material is intended for use by Investment Advisors.

    There is no guarantee that a hedging strategy will be effective or achieve its intended effect. The use of derivatives or short selling carries several risks which may restrict a strategy in realizing its profits, limiting its losses, or, which cause a strategy to realize a loss. There may be additional costs and expenses associated with the use of derivatives and short selling in a hedging strategy.

    This is provided as a general source of information, is subject to change without notification and should not be construed as investment advice. This material should not be relied upon for any investment decision and is not a recommendation, solicitation or offering of any security in any jurisdiction.

    Commissions, trailing commissions, management fees, performance fees and expenses all may be associated with mutual fund investments. Please read the prospectus before investing. Mutual funds are not guaranteed, their values change frequently and past performance may not be repeated. Alternative funds can only be purchased through a registered dealer and are available only in those jurisdictions where they may be lawfully offered for sale.

    Investment Risk Rating is the historical volatility risk as measured by the standard deviation of fund performance, which is the standard methodology outlined in Appendix F Investment Risk Classification Methodology to NI 81-102 Investment Funds.