Overview

Daily NAV
$9.16
0.07% $0.01
December 2, 2024
  • Inception Date
    July 13, 2021
  • Fund Size
    $282.36MM
  • Management Fee
    1.95%
  • 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 Medium
Medium
Medium 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 October 31, 2024

Growth of $10,000

Investment value: $10,968.99 at October 31, 2024

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 A 0.47% 2.16% 4.47% 6.98% 11.24% 3.46% 2.84%
Series Picton Mahoney Fortified Special Situations Alternative Fund A
1 mth 0.47%
3 mths 2.16%
6 mths 4.47%
YTD 6.98%
1 yr 11.24%
3 yrs * 3.46%
5 yrs *
10 yrs *
Since Inception * 2.84%

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 Special Situations Alternative Fund A -2.54% 6.53%
Series Picton Mahoney Fortified Special Situations Alternative Fund A
2022 -2.54%
2023 6.53%

Risk Measures

Risk And Return Statistics Fund Benchmark **
Annualized Return 2.84% 2.74%
Annualized Standard Deviation 3.71% 5.31%
Sharpe Ratio -0.06 -0.04
Beta 0.28
Upside Capture Ratio 48.43%
Downside Capture Ratio 23.42%
Maximum Drawdown -5.54% -12.93%
Peak Value Date of Maximum Drawdown 2021-08-10 2021-09-20
Trough Value Date of Maximum Drawdown 2022-07-14 2022-07-04

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

Portfolio Allocations As at October 31, 2024

Sector Allocation

Geographic Allocation (Net)

Credit Ratings

Security Type Allocation

Top 10 Long Positions

Name Weight
Prime Healthcare Services Inc 9.375% 01Sep29 4.82%
goeasy Ltd 4.375% 01May26 3.92%
First Quantum Minerals Ltd 9.375% 01Mar29 3.42%
iA Financial Corp Inc Frn 30Sep84 3.15%
Getty Images Inc 9.75% 01Mar27 3.15%
Blue Racer Midstream LLC 7.25% 15Jul32 2.88%
Option Care Health Inc 4.375% 31Oct29 2.83%
Enbridge Inc Frn 19Jan82 2.67%
PetSmart Inc 7.75% 15Feb29 2.67%
Shift4 Payments LLC 4.625% 01Nov26 2.67%

Exposure Breakout ±±

Name Weight
Long 149.12%
Short -44.36%
Gross 193.48%
Net 104.76%

±± 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 2.48
Credit Rating BB
Issuers 138
Yield To Maturity 7.92%

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
2024-12-02 $9.16
2024-11-29 $9.15
2024-11-28 $9.14
2024-11-27 $9.12
2024-11-26 $9.12
2024-11-25 $9.12
2024-11-22 $9.10
2024-11-21 $9.10 0.0264
2024-11-20 $9.14
2024-11-19 $9.13
2024-11-18 $9.14
2024-11-15 $9.14
2024-11-14 $9.14
2024-11-13 $9.11
2024-11-12 $9.10
2024-11-11 $9.10
2024-11-08 $9.10
2024-11-07 $9.10
2024-11-06 $9.09
2024-11-05 $9.11
2024-11-04 $9.12
2024-11-01 $9.12
2024-10-31 $9.12
2024-10-30 $9.12
2024-10-29 $9.12
2024-10-28 $9.12
2024-10-25 $9.11
2024-10-24 $9.11
2024-10-23 $9.12 0.0331
2024-10-22 $9.14
2024-10-21 $9.14
2024-10-18 $9.16
2024-10-17 $9.15
2024-10-16 $9.14
2024-10-15 $9.14
2024-10-11 $9.12
2024-10-10 $9.12
2024-10-09 $9.12
2024-10-08 $9.11
2024-10-07 $9.11
2024-10-04 $9.09
2024-10-03 $9.12
2024-10-02 $9.12
2024-10-01 $9.12
2024-09-30 $9.11
2024-09-27 $9.10
2024-09-26 $9.09
2024-09-25 $9.09
2024-09-24 $9.09
2024-09-23 $9.10
2024-09-20 $9.09 0.0369
2024-09-19 $9.12
2024-09-18 $9.11
2024-09-17 $9.10
2024-09-16 $9.10
2024-09-13 $9.10
2024-09-12 $9.10
2024-09-11 $9.10
2024-09-10 $9.11
2024-09-09 $9.10
2024-09-06 $9.11
2024-09-05 $9.09
2024-09-04 $9.10
2024-09-03 $9.09
2024-08-30 $9.06
2024-08-29 $9.06
2024-08-28 $9.06
2024-08-27 $9.05
2024-08-26 $9.06
2024-08-23 $9.04
2024-08-22 $9.04 0.0144
2024-08-21 $9.05
2024-08-20 $9.04
2024-08-19 $9.03
2024-08-16 $9.02
2024-08-15 $9.03
2024-08-14 $9.03
2024-08-13 $9.04
2024-08-12 $9.06
2024-08-09 $9.04
2024-08-08 $9.03
2024-08-07 $9.04
2024-08-06 $9.04
2024-08-02 $9.08
2024-08-01 $9.04
2024-07-31 $9.01
2024-07-30 $9.01
2024-07-29 $9.00
2024-07-26 $8.99
2024-07-25 $9.00
2024-07-24 $8.99
2024-07-23 $8.97 0.0341
2024-07-22 $9.00
2024-07-19 $9.01
2024-07-18 $9.02
2024-07-17 $9.01
2024-07-16 $9.01
2024-07-15 $9.00
2024-07-12 $9.00
2024-07-11 $8.99
2024-07-10 $8.98
2024-07-09 $8.98
2024-07-08 $8.99
2024-07-05 $8.98
2024-07-04 $8.97
2024-07-03 $8.97
2024-07-02 $8.96
2024-06-28 $8.98
2024-06-27 $8.97
2024-06-26 $8.97
2024-06-25 $8.97
2024-06-24 $8.98
2024-06-21 $8.97
2024-06-20 $8.97 0.0214
2024-06-19 $8.96
2024-06-18 $8.96
2024-06-17 $8.96
2024-06-14 $8.98
2024-06-13 $8.98
2024-06-12 $8.97
2024-06-11 $8.97
2024-06-10 $8.97
2024-06-07 $8.97
2024-06-06 $8.97
2024-06-05 $8.98
2024-06-04 $8.97
2024-06-03 $8.96
2024-05-31 $8.95
2024-05-30 $8.95
2024-05-29 $8.95
2024-05-28 $8.94
2024-05-27 $8.93
2024-05-24 $8.93
2024-05-23 $8.93 0.0126
2024-05-22 $8.94
2024-05-21 $8.95
2024-05-17 $8.94
2024-05-16 $8.94
2024-05-15 $8.93
2024-05-14 $8.91
2024-05-13 $8.91
2024-05-10 $8.90
2024-05-09 $8.90
2024-05-08 $8.91
2024-05-07 $8.91
2024-05-06 $8.90
2024-05-03 $8.91
2024-05-02 $8.90
2024-05-01 $8.90
2024-04-30 $8.88
2024-04-29 $8.88
2024-04-26 $8.86
2024-04-25 $8.86
2024-04-24 $8.87
2024-04-23 $8.88
2024-04-22 $8.87 0.0126
2024-04-19 $8.88
2024-04-18 $8.89
2024-04-17 $8.89
2024-04-16 $8.89
2024-04-15 $8.89
2024-04-12 $8.90
2024-04-11 $8.88
2024-04-10 $8.89
2024-04-09 $8.89
2024-04-08 $8.88
2024-04-05 $8.88
2024-04-04 $8.89
2024-04-03 $8.88
2024-04-02 $8.88
2024-04-01 $8.88
2024-03-28 $8.88
2024-03-27 $8.88
2024-03-26 $8.87
2024-03-25 $8.87
2024-03-22 $8.87
2024-03-21 $8.85
2024-03-20 $8.86 0.0131
2024-03-19 $8.87
2024-03-18 $8.86
2024-03-15 $8.86
2024-03-14 $8.86
2024-03-13 $8.86
2024-03-12 $8.86
2024-03-11 $8.86
2024-03-08 $8.86
2024-03-07 $8.86
2024-03-06 $8.85
2024-03-05 $8.85
2024-03-04 $8.84
2024-03-01 $8.84
2024-02-29 $8.83
2024-02-28 $8.83
2024-02-27 $8.81
2024-02-26 $8.81
2024-02-23 $8.81
2024-02-22 $8.80
2024-02-21 $8.79 0.0145
2024-02-20 $8.81
2024-02-16 $8.78
2024-02-15 $8.78
2024-02-14 $8.77
2024-02-13 $8.77
2024-02-12 $8.77
2024-02-09 $8.77
2024-02-08 $8.77
2024-02-07 $8.78
2024-02-06 $8.79
2024-02-05 $8.78
2024-02-02 $8.79
2024-02-01 $8.81
2024-01-31 $8.80
2024-01-30 $8.79
2024-01-29 $8.78
2024-01-26 $8.77
2024-01-25 $8.77
2024-01-24 $8.76
2024-01-23 $8.76 0.0243
2024-01-22 $8.77
2024-01-19 $8.76
2024-01-18 $8.76
2024-01-17 $8.75
2024-01-16 $8.76
2024-01-15 $8.76
2024-01-12 $8.75
2024-01-11 $8.74
2024-01-10 $8.73
2024-01-09 $8.74
2024-01-08 $8.74
2024-01-05 $8.75
2024-01-04 $8.76
2024-01-03 $8.75
2024-01-02 $8.74
2023-12-29 $8.74
2023-12-28 $8.72
2023-12-27 $8.71
2023-12-22 $8.71
2023-12-21 $8.71 0.0546
2023-12-20 $8.79
2023-12-19 $8.76
2023-12-18 $8.75
2023-12-15 $8.76
2023-12-14 $8.74
2023-12-13 $8.71
2023-12-12 $8.71
2023-12-11 $8.70
2023-12-08 $8.70
2023-12-07 $8.71
2023-12-06 $8.71
2023-12-05 $8.70
2023-12-04 $8.68

Portfolio Management

Phil Mesman, CFA

Portfolio Manager, Co-Head Fixed Income

Sam Acton, CFA

Portfolio Manager, Co-Head Fixed Income