Overview
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Inception DateSeptember 29, 2006
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Fund Size$221.63MM
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Management Fee1.00%
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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 StrategyMarket Neutral Equity
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Fund FrameworkHedge Fund (Offering Memorandum)
Risk: Low
^ of performance above a 2% hurdle rate with a perpetual high water mark
Investment Objective
Why Invest
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
Compound Returns †
1 mth | 3 mths | 6 mths | YTD | 1 yr | 3 yrs * | 5 yrs * | 10 yrs * | Since Inception * | |
---|---|---|---|---|---|---|---|---|---|
Picton Mahoney Market Neutral Equity Fund F | 0.84% | 2.59% | 6.58% | 12.31% | 10.88% | 6.43% | 7.82% | 4.86% | 5.38% |
Benchmark 1 | 3.15% | 10.54% | 9.96% | 17.24% | 26.74% | 9.52% | 10.95% | 8.09% | 7.18% |
Benchmark 3 | 1.83% | 4.56% | 5.59% | 4.22% | 12.79% | -0.07% | 0.55% | 2.23% | 3.49% |
Series | Picton Mahoney Market Neutral Equity Fund F | Benchmark | Benchmark |
---|---|---|---|
1 mth | 0.84% | 3.15% | 1.83% |
3 mths | 2.59% | 10.54% | 4.56% |
6 mths | 6.58% | 9.96% | 5.59% |
YTD | 12.31% | 17.24% | 4.22% |
1 yr | 10.88% | 26.74% | 12.79% |
3 yrs * | 6.43% | 9.52% | -0.07% |
5 yrs * | 7.82% | 10.95% | 0.55% |
10 yrs * | 4.86% | 8.09% | 2.23% |
Since Inception * | 5.38% | 7.18% | 3.49% |
† 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
3 ICE BofA Canada Broad Market Index (TR)
Calendar Returns
2007 | 2008 | 2009 | 2010 | 2011 | 2012 | 2013 | 2014 | 2015 | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | |
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Picton Mahoney Market Neutral Equity Fund F | 14.98% | 2.12% | 9.44% | 7.68% | 0.27% | 2.84% | 6.32% | 2.38% | 1.99% | -3.10% | 3.30% | 0.27% | 6.25% | 15.38% | 5.96% | 4.17% | 1.95% |
Benchmark 1 | 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 3 | 3.62% | 6.11% | 5.19% | 6.92% | 10.00% | 3.71% | -1.48% | 9.10% | 3.57% | 1.54% | 2.69% | 1.31% | 6.97% | 8.61% | -2.71% | -11.47% | 6.37% |
Series | Picton Mahoney Market Neutral Equity Fund F | Benchmark | Benchmark |
---|---|---|---|
2007 | 14.98% | 9.83% | 3.62% |
2008 | 2.12% | -33.00% | 6.11% |
2009 | 9.44% | 35.05% | 5.19% |
2010 | 7.68% | 17.61% | 6.92% |
2011 | 0.27% | -8.71% | 10.00% |
2012 | 2.84% | 7.19% | 3.71% |
2013 | 6.32% | 12.99% | -1.48% |
2014 | 2.38% | 10.55% | 9.10% |
2015 | 1.99% | -8.32% | 3.57% |
2016 | -3.10% | 21.08% | 1.54% |
2017 | 3.30% | 9.10% | 2.69% |
2018 | 0.27% | -8.89% | 1.31% |
2019 | 6.25% | 22.88% | 6.97% |
2020 | 15.38% | 5.60% | 8.61% |
2021 | 5.96% | 25.09% | -2.71% |
2022 | 4.17% | -5.84% | -11.47% |
2023 | 1.95% | 11.75% | 6.37% |
1 S&P/TSX Composite TR Index
3 ICE BofA Canada Broad Market Index (TR)
Risk Measures
Risk And Return Statistics
Fund
Benchmark
**
Annualized Return
5.38%
7.18%
Annualized Standard Deviation
4.12%
13.54%
Sharpe Ratio
0.89
0.46
Beta
0.07
—
Upside Capture Ratio
21.11%
—
Downside Capture Ratio
-5.69%
—
Maximum Drawdown
-6.47%
-47.94%
Peak Value Date of Maximum Drawdown
2020-02-14
2008-06-06
Trough Value Date of Maximum Drawdown
2020-03-20
2009-03-06
**S&P/TSX Composite TR Index
Risk Measures
Risk And Return Statistics | Fund | Benchmark ** |
---|---|---|
Annualized Return | 5.38% | 7.18% |
Annualized Standard Deviation | 4.12% | 13.54% |
Sharpe Ratio | 0.89 | 0.46 |
Beta | 0.07 | — |
Upside Capture Ratio | 21.11% | — |
Downside Capture Ratio | -5.69% | — |
Maximum Drawdown | -6.47% | -47.94% |
Peak Value Date of Maximum Drawdown | 2020-02-14 | 2008-06-06 |
Trough Value Date of Maximum Drawdown | 2020-03-20 | 2009-03-06 |
**S&P/TSX Composite TR Index
Portfolio Allocations As at September 30, 2024
Top 10 Long Positions
Name | Weight |
---|---|
Toronto-Dominion Bank Com New | 2.78% |
Canadian Pacific Kansas City Limited | 2.63% |
Royal Bank of Canada | 2.42% |
Canadian Imperial Bank of Commerce | 2.09% |
Manulife Financial Corporation | 1.96% |
Element Fleet Management Corp. | 1.94% |
NVIDIA Corp. | 1.92% |
Waste Connections Inc. | 1.89% |
Suncor Energy Inc. | 1.88% |
George Weston Ltd. | 1.73% |
Exposure Breakout ±±
Name | Weight |
---|---|
Long | 139.04% |
Short | -122.83% |
Gross | 261.87% |
Net | 16.21% |
±± 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 100 |
Class F | 1.00% | PIC 101 |
Portfolio Management
President, CEO and Portfolio Manager, Canadian Equities
Portfolio Manager, Canadian Equities
Portfolio Manager, U.S. Equities
Portfolio Manager, International Equities