Overview
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Inception DateDecember 30, 2005
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Fund Size$251.82MM
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Management Fee2.00%
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Performance Fee17.50% ^
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Hurdle Rate2.00%
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High Water MarkYes
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Fund StrategyLong Short Equity
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Fund FrameworkHedge Fund (Offering Memorandum)
Risk: Low to Medium
^ of performance above a 2% hurdle rate with a perpetual high water mark
Investment Objective
Why Invest
Invest in a Fund designed to increase gross exposure to generate alpha while reducing net market exposure to decrease broad market risk.
Add Hedging Tools
Aimed to dampen volatility and seek to mitigate downside risk associated with investing in equities.
Benefit From Proven Managers
With an active approach to managing Authentic Hedge® strategies for over a decade.
Performance As at September 30, 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 Long Short Equity Fund A | 1.75% | 5.60% | 8.57% | 17.01% | 20.18% | 7.98% | 11.94% | 7.93% | 9.21% |
Benchmark 1 | 3.15% | 10.54% | 9.96% | 17.24% | 26.74% | 9.52% | 10.95% | 8.09% | 7.23% |
Benchmark 2 | 2.17% | 4.59% | 10.18% | 24.88% | 35.97% | 14.26% | 16.42% | 15.50% | 11.55% |
Series | Picton Mahoney Long Short Equity Fund A | Benchmark | Benchmark |
---|---|---|---|
1 mth | 1.75% | 3.15% | 2.17% |
3 mths | 5.60% | 10.54% | 4.59% |
6 mths | 8.57% | 9.96% | 10.18% |
YTD | 17.01% | 17.24% | 24.88% |
1 yr | 20.18% | 26.74% | 35.97% |
3 yrs * | 7.98% | 9.52% | 14.26% |
5 yrs * | 11.94% | 10.95% | 16.42% |
10 yrs * | 7.93% | 8.09% | 15.50% |
Since Inception * | 9.21% | 7.23% | 11.55% |
† 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 S&P/TSX Composite TR Index
2 S&P 500 Index
Calendar Returns
2006 | 2007 | 2008 | 2009 | 2010 | 2011 | 2012 | 2013 | 2014 | 2015 | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | |
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Picton Mahoney Long Short Equity Fund A | 39.62% | 20.35% | -19.17% | 31.89% | 15.98% | -6.03% | 6.00% | 14.18% | 2.89% | -1.83% | 6.31% | 7.19% | -4.72% | 16.20% | 24.24% | 14.72% | -2.71% | 6.87% |
Benchmark 1 | 17.26% | 9.83% | -33.00% | 35.05% | 17.61% | -8.71% | 7.19% | 12.99% | 10.55% | -8.32% | 21.08% | 9.10% | -8.89% | 22.88% | 5.60% | 25.09% | -5.84% | 11.75% |
Benchmark 2 | 15.68% | -10.54% | -21.69% | 7.94% | 9.25% | 4.37% | 13.74% | 41.10% | 23.93% | 21.47% | 8.39% | 13.75% | 4.04% | 24.98% | 16.31% | 27.83% | -12.42% | 23.23% |
Series | Picton Mahoney Long Short Equity Fund A | Benchmark | Benchmark |
---|---|---|---|
2006 | 39.62% | 17.26% | 15.68% |
2007 | 20.35% | 9.83% | -10.54% |
2008 | -19.17% | -33.00% | -21.69% |
2009 | 31.89% | 35.05% | 7.94% |
2010 | 15.98% | 17.61% | 9.25% |
2011 | -6.03% | -8.71% | 4.37% |
2012 | 6.00% | 7.19% | 13.74% |
2013 | 14.18% | 12.99% | 41.10% |
2014 | 2.89% | 10.55% | 23.93% |
2015 | -1.83% | -8.32% | 21.47% |
2016 | 6.31% | 21.08% | 8.39% |
2017 | 7.19% | 9.10% | 13.75% |
2018 | -4.72% | -8.89% | 4.04% |
2019 | 16.20% | 22.88% | 24.98% |
2020 | 24.24% | 5.60% | 16.31% |
2021 | 14.72% | 25.09% | 27.83% |
2022 | -2.71% | -5.84% | -12.42% |
2023 | 6.87% | 11.75% | 23.23% |
1 S&P/TSX Composite TR Index
2 S&P 500 Index
Risk Measures
Risk And Return Statistics
Fund
Benchmark
**
Annualized Return
9.21%
7.23%
Annualized Standard Deviation
9.52%
13.43%
Sharpe Ratio
0.79
0.46
Beta
0.58
—
Upside Capture Ratio
69.59%
—
Downside Capture Ratio
41.75%
—
Maximum Drawdown
-29.54%
-47.94%
Peak Value Date of Maximum Drawdown
2008-06-13
2008-06-06
Trough Value Date of Maximum Drawdown
2008-10-10
2009-03-06
**S&P/TSX Composite TR Index
Risk Measures
Risk And Return Statistics | Fund | Benchmark ** |
---|---|---|
Annualized Return | 9.21% | 7.23% |
Annualized Standard Deviation | 9.52% | 13.43% |
Sharpe Ratio | 0.79 | 0.46 |
Beta | 0.58 | — |
Upside Capture Ratio | 69.59% | — |
Downside Capture Ratio | 41.75% | — |
Maximum Drawdown | -29.54% | -47.94% |
Peak Value Date of Maximum Drawdown | 2008-06-13 | 2008-06-06 |
Trough Value Date of Maximum Drawdown | 2008-10-10 | 2009-03-06 |
**S&P/TSX Composite TR Index
Portfolio Allocations As at September 30, 2024
Top 10 Long Positions
Name | Weight |
---|---|
Royal Bank of Canada | 5.09% |
Canadian Pacific Kansas City Limited | 4.51% |
Toronto-Dominion Bank Com New | 4.19% |
Waste Connections Inc. | 2.79% |
Canadian Imperial Bank of Commerce | 2.59% |
Shopify Inc. Cl A | 2.31% |
Element Fleet Management Corp. | 2.25% |
Suncor Energy Inc. | 2.22% |
Manulife Financial Corporation | 2.19% |
Constellation Software Inc. | 2.18% |
Exposure Breakout ±±
Name | Weight |
---|---|
Long | 168.46% |
Short | -98.35% |
Gross | 266.81% |
Net | 70.10% |
±± 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 |
---|---|---|
Class A | 2.00% | PIC 200 |
Class F | 1.00% | PIC 201 |
Portfolio Management
President, CEO and Portfolio Manager, Canadian Equities
Portfolio Manager, Canadian Equities
Portfolio Manager, U.S. Equities
Portfolio Manager, International Equities