SUBSCRIBE FR
PERFORMANCE SOLUTIONS TOOLS RESOURCES DOCUMENTATION ABOUT US

Overview

Daily NAV
$8.90
-0.03% ($0.00)
September 22, 2023
  • Inception Date
    July 13, 2021
  • Fund Size
    $139.04MM
  • Management Fee
    0.95%
  • Performance Fee
    20.00% ^
  • Hurdle Rate
    2.00%
  • High Water Mark
    Yes
  • Distributions
    Monthly
  • Fund Strategy
    Long Short Event Driven Credit
  • 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 Picton Mahoney Fortified Special Situations Alternative Fund is to maximize total return to unitholders through income and capital appreciation by investing primarily in event-driven situations in global fixed income while mitigating capital loss through shorting and other hedging strategies.

Why Invest

Unique Source of Return
Through long short event-driven investing that aims to have low correlation to major markets.
Benefit From Proven Managers
With experience running Authentic Hedge® strategies for over a decade.
Add Hedging Tools
Designed to hedge the risks associated with income investing such as capital loss.

Performance As at August 31, 2023

Growth of $10,000

Investment value: $10,184.88 at August 31, 2023

Compound Returns

1 mth 3 mths 6 mths YTD 1 yr 3 yrs * 5 yrs * 10 yrs * Since Inception *
Picton Mahoney Fortified Special Situations Alternative Fund F -0.00% 1.53% 1.72% 3.97% 3.03% 0.86%
Series Picton Mahoney Fortified Special Situations Alternative Fund F
1 mth -0.00%
3 mths 1.53%
6 mths 1.72%
YTD 3.97%
1 yr 3.03%
3 yrs *
5 yrs *
10 yrs *
Since Inception * 0.86%

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
Picton Mahoney Fortified Special Situations Alternative Fund F -1.34%
Series Picton Mahoney Fortified Special Situations Alternative Fund F
2022 -1.34%

Risk Measures

Risk And Return Statistics Fund Benchmark **
Annualized Return 0.86% -0.50%
Annualized Standard Deviation 3.97% 5.91%
Sharpe Ratio -0.41 -0.49
Beta 0.30
Upside Capture Ratio 42.69%
Downside Capture Ratio 29.96%
Maximum Drawdown -4.83% -12.69%
Peak Value Date of Maximum Drawdown 2022-01-27 2021-08-20
Trough Value Date of Maximum Drawdown 2022-06-29 2022-06-30

**HFRX FIXED INCOME-CREDIT INDEX (in CAD)

Portfolio Allocations As at August 31, 2023

Sector Allocation

Geographic Allocation (Net)

Credit Ratings

Security Type Allocation

Top 10 Long Positions

Name Weight
Horizon Therapeutics USA 5.5% 01Aug27 4.30%
Earthstone Energy Holdings 9.875% 15Jul31 4.11%
Tervita Corp 11% 01Dec25 4.08%
National Bank of Canada 7.50% 16Nov82 3.87%
Secure Energy Services 7.25% 30Dec26 3.65%
NCR Corporation 5.75% 01Sep27 3.29%
NCR Corporation 6.125% 01Sep29 3.28%
Stagwell Global LLC 5.625% 15Aug29 3.17%
Autocanada Inc 5.75% 07Feb29 3.14%
Vistra Corp Frn 31Dec49 3.09%

Exposure Breakout ±±

Name Weight
Long 138.56%
Short -44.11%
Gross 182.67%
Net 94.45%

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

Fundamental Metrics

Fund Benchmark
Weighted Average Modified Duration 2.24
Credit Rating BB
Issuers 103
Yield To Maturity 8.57%

Fees

Series Management Fee Fund codes
Class A 1.95% PIC 3550
Class F 0.95% PIC 3551
ETF 0.95% PFSS

Historical Net Asset Values

Start Date

End Date

Effective Date Net Asset Value Distributions
2023-09-22 $8.90
2023-09-21 $8.91 0.0479
2023-09-20 $8.94
2023-09-19 $8.92
2023-09-18 $8.93
2023-09-15 $8.93
2023-09-14 $8.93
2023-09-13 $8.92
2023-09-12 $8.92
2023-09-11 $8.91
2023-09-08 $8.91
2023-09-07 $8.91
2023-09-06 $8.91
2023-09-05 $8.92
2023-09-01 $8.92
2023-08-31 $8.90
2023-08-30 $8.90
2023-08-29 $8.91
2023-08-28 $8.91
2023-08-25 $8.91
2023-08-24 $8.92
2023-08-23 $8.92 0.0451
2023-08-22 $8.96
2023-08-21 $8.98
2023-08-18 $8.99
2023-08-17 $8.99
2023-08-16 $8.98
2023-08-15 $8.97
2023-08-14 $8.97
2023-08-11 $8.98
2023-08-10 $8.97
2023-08-09 $8.98
2023-08-08 $8.98
2023-08-04 $8.98
2023-08-03 $8.96
2023-08-02 $8.98
2023-08-01 $8.96
2023-07-31 $8.95
2023-07-28 $8.94
2023-07-27 $8.95
2023-07-26 $8.96
2023-07-25 $8.95
2023-07-24 $8.95
2023-07-21 $8.96 0.0404
2023-07-20 $8.99
2023-07-19 $8.98
2023-07-18 $8.98
2023-07-17 $8.97
2023-07-14 $8.96
2023-07-13 $8.97
2023-07-12 $8.93
2023-07-11 $8.95
2023-07-10 $8.95
2023-07-07 $8.95
2023-07-06 $8.96
2023-07-05 $8.96
2023-07-04 $8.96
2023-06-30 $8.94
2023-06-29 $8.94
2023-06-28 $8.95
2023-06-27 $8.93
2023-06-26 $8.93
2023-06-23 $8.92
2023-06-22 $8.91 0.0315
2023-06-21 $8.94
2023-06-20 $8.94
2023-06-19 $8.93
2023-06-16 $8.91
2023-06-15 $8.92
2023-06-14 $8.91
2023-06-13 $8.89
2023-06-12 $8.90
2023-06-09 $8.89
2023-06-08 $8.87
2023-06-07 $8.85
2023-06-06 $8.87
2023-06-05 $8.87
2023-06-02 $8.85
2023-06-01 $8.88
2023-05-31 $8.88
2023-05-30 $8.87
2023-05-29 $8.86
2023-05-26 $8.86
2023-05-25 $8.87
2023-05-24 $8.89
2023-05-23 $8.88 0.0346
2023-05-19 $8.90
2023-05-18 $8.90
2023-05-17 $8.91
2023-05-16 $8.93
2023-05-15 $8.93
2023-05-12 $8.93
2023-05-11 $8.94
2023-05-10 $8.94
2023-05-09 $8.95
2023-05-08 $8.95
2023-05-05 $8.93
2023-05-04 $8.97
2023-05-03 $8.97
2023-05-02 $8.96
2023-05-01 $8.94
2023-04-28 $8.94
2023-04-27 $8.94
2023-04-26 $8.96
2023-04-25 $8.96
2023-04-24 $8.95
2023-04-21 $8.94
2023-04-20 $8.93 0.0341
2023-04-19 $8.96
2023-04-18 $8.96
2023-04-17 $8.96
2023-04-14 $8.95
2023-04-13 $8.95
2023-04-12 $8.98
2023-04-11 $8.97
2023-04-10 $8.97
2023-04-06 $8.99
2023-04-05 $9.00
2023-04-04 $8.97
2023-04-03 $8.94
2023-03-31 $8.78
2023-03-30 $8.80
2023-03-29 $8.80
2023-03-28 $8.82
2023-03-27 $8.83
2023-03-24 $8.83
2023-03-23 $8.87 0.0335
2023-03-22 $8.91
2023-03-21 $8.91
2023-03-20 $8.91
2023-03-17 $8.96
2023-03-16 $8.95
2023-03-15 $8.98
2023-03-14 $9.00
2023-03-13 $9.02
2023-03-10 $9.01
2023-03-09 $8.99
2023-03-08 $8.97
2023-03-07 $8.95
2023-03-06 $8.95
2023-03-03 $8.96
2023-03-02 $8.96
2023-03-01 $8.97
2023-02-28 $8.97
2023-02-27 $8.95
2023-02-24 $8.95
2023-02-23 $8.96
2023-02-22 $8.98
2023-02-21 $8.99
2023-02-17 $8.99 0.0300
2023-02-16 $9.03
2023-02-15 $9.02
2023-02-14 $9.02
2023-02-13 $9.03
2023-02-10 $9.02
2023-02-09 $9.02
2023-02-08 $9.02
2023-02-07 $9.01
2023-02-06 $9.01
2023-02-03 $9.01
2023-02-02 $9.00
2023-02-01 $8.99
2023-01-31 $8.99
2023-01-30 $8.98
2023-01-27 $8.97
2023-01-26 $8.94
2023-01-25 $8.93
2023-01-24 $8.93
2023-01-23 $8.93 0.0330
2023-01-20 $8.96
2023-01-19 $8.95
2023-01-18 $8.96
2023-01-17 $8.94
2023-01-16 $8.92
2023-01-13 $8.92
2023-01-12 $8.92
2023-01-11 $8.87
2023-01-10 $8.88
2023-01-09 $8.87
2023-01-06 $8.86
2023-01-05 $8.85
2023-01-04 $8.86
2023-01-03 $8.85
2022-12-30 $8.84
2022-12-29 $8.83
2022-12-28 $8.85
2022-12-23 $8.84
2022-12-22 $8.85 0.0709
2022-12-21 $8.92
2022-12-20 $8.93
2022-12-19 $8.93
2022-12-16 $8.93
2022-12-15 $8.93
2022-12-14 $8.92
2022-12-13 $8.92
2022-12-12 $8.92
2022-12-09 $8.92
2022-12-08 $8.92
2022-12-07 $8.92
2022-12-06 $8.93
2022-12-05 $8.91
2022-12-02 $8.90
2022-12-01 $8.88
2022-11-30 $8.87
2022-11-29 $8.87
2022-11-28 $8.88
2022-11-25 $8.88
2022-11-24 $8.88
2022-11-23 $8.88
2022-11-22 $8.85 0.0614
2022-11-21 $8.92
2022-11-18 $8.91
2022-11-17 $8.89
2022-11-16 $8.90
2022-11-15 $8.89
2022-11-14 $8.88
2022-11-11 $8.87
2022-11-10 $8.86
2022-11-09 $8.83
2022-11-08 $8.83
2022-11-07 $8.81
2022-11-04 $8.80
2022-11-03 $8.81
2022-11-02 $8.83
2022-11-01 $8.84
2022-10-31 $8.84
2022-10-28 $8.84
2022-10-27 $8.84
2022-10-26 $8.84
2022-10-25 $8.82
2022-10-24 $8.81
2022-10-21 $8.80 0.0601
2022-10-20 $8.87
2022-10-19 $8.88
2022-10-18 $8.90
2022-10-17 $8.93
2022-10-14 $8.92
2022-10-13 $8.93
2022-10-12 $8.94
2022-10-11 $8.93
2022-10-07 $8.94
2022-10-06 $8.95
2022-10-05 $8.98
2022-10-04 $8.99
2022-10-03 $8.97
2022-09-30 $9.01
2022-09-29 $9.03
2022-09-28 $9.05
2022-09-27 $9.05
2022-09-26 $9.06

Portfolio Management

Phil Mesman, CFA

Head of Fixed Income

Sam Acton, CFA

Portfolio Manager, Fixed Income