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Alternative Credit Focus
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|
NAVPS (05-02-2024) |
$9.29 |
|---|---|
| Change |
$0.00
(0.04%)
|
As at March 31, 2024
As at February 29, 2024
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Inception Return (July 05, 2019): 3.35%
| Row Heading | Return | Annualized Return | ||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 1 Mth | 3 Mth | 6 Mth | YTD | 1 Yr | 2 Yr | 3 Yr | 4 Yr | 5 Yr | 6 Yr | 7 Yr | 8 Yr | 9 Yr | 10 Yr | |
| Fund | 0.58% | 1.50% | 4.43% | 1.50% | 6.76% | 2.18% | 1.07% | 4.57% | - | - | - | - | - | - |
| Benchmark | 0.48% | -1.28% | 6.84% | -1.28% | 1.93% | -0.14% | -1.50% | -0.83% | 0.22% | 1.02% | 1.12% | 1.15% | 1.09% | 2.01% |
| Category Average | 0.82% | 6.16% | 6.16% | 1.92% | 6.88% | 3.42% | 2.11% | 5.50% | - | - | - | - | - | - |
| Category Rank | 78 / 120 | 81 / 120 | 96 / 119 | 81 / 120 | 68 / 116 | 62 / 102 | 49 / 75 | 33 / 52 | - | - | - | - | - | - |
| Quartile Ranking | 3 | 3 | 4 | 3 | 3 | 3 | 3 | 3 | - | - | - | - | - | - |
| Return % | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Jan | Feb | Mar |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Fund | 1.99% | -0.70% | 0.85% | 0.35% | 0.00% | -0.24% | -0.63% | 2.20% | 1.30% | 0.71% | 0.21% | 0.58% |
| Benchmark | 0.90% | -1.62% | -0.04% | -1.08% | -0.19% | -2.62% | 0.43% | 4.21% | 3.42% | -1.36% | -0.40% | 0.48% |
2.86% (April 2020)
-7.18% (March 2020)
| Return % | 2014 | 2015 | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 |
|---|---|---|---|---|---|---|---|---|---|---|
| Fund | - | - | - | - | - | - | 7.53% | 2.78% | -4.29% | 5.69% |
| Benchmark | 9.10% | 3.57% | 1.54% | 2.70% | 1.29% | 6.97% | 8.61% | -2.71% | -11.46% | 6.38% |
| Category Average | - | - | - | - | - | - | 7.20% | 3.25% | -4.07% | 7.22% |
| Quartile Ranking | - | - | - | - | - | - | 2 | 2 | 3 | 3 |
| Category Rank | - | - | - | - | - | - | 23/ 47 | 35/ 75 | 58/ 98 | 76/ 116 |
7.53% (2020)
-4.29% (2022)
| Name | Percent |
|---|---|
| Canadian Corporate Bonds | 52.89 |
| Cash and Equivalents | 24.32 |
| Foreign Corporate Bonds | 14.43 |
| Canadian Equity | 6.03 |
| Canadian Bonds - Other | 1.64 |
| Other | 0.69 |
| Name | Percent |
|---|---|
| Fixed Income | 69.07 |
| Cash and Cash Equivalent | 24.32 |
| Energy | 3.26 |
| Financial Services | 1.39 |
| Basic Materials | 1.20 |
| Other | 0.76 |
| Name | Percent |
|---|---|
| North America | 98.37 |
| Europe | 1.52 |
| Latin America | 0.11 |
| Name | Percent |
|---|---|
| USD Currency | 3.86 |
| Secure Energy Services Inc 7.25% 30-Dec-2026 | 2.67 |
| Parkland Corp 4.38% 26-Mar-2024 | 2.38 |
| Royal Bank of Canada 4.50% 24-Oct-2025 | 2.31 |
| Freeport Minerals Corp 7.13% 01-Nov-2027 | 2.17 |
| Permian Resources Operatng LLC 8.00% 15-Apr-2024 | 2.08 |
| Toronto-Dominion Bank 7.23% PERP | 2.07 |
| Prime Healthcare Services Inc 7.25% 01-Feb-2024 | 1.90 |
| Northriver Midstream Fince LP 5.63% 01-Feb-2024 | 1.85 |
| MANITOULIN USD 13.29% 10-Nov-2027 | 1.83 |
Picton Mahoney Fortified Income Alternative Fund Class A
Median
Other - Alternative Credit Focus
| Standard Deviation | 3.46% | - | - |
|---|---|---|---|
| Beta | 0.31% | - | - |
| Alpha | 0.02% | - | - |
| Rsquared | 0.35% | - | - |
| Sharpe | -0.43% | - | - |
| Sortino | -0.72% | - | - |
| Treynor | -0.05% | - | - |
| Tax Efficiency | - | - | - |
| Volatility |
|
- | - |
| Key Ratio | 1 Yr | 3 Yr | 5 Yr | 10 Yr |
|---|---|---|---|---|
| Standard Deviation | 3.22% | 3.46% | - | - |
| Beta | 0.34% | 0.31% | - | - |
| Alpha | 0.06% | 0.02% | - | - |
| Rsquared | 0.53% | 0.35% | - | - |
| Sharpe | 0.58% | -0.43% | - | - |
| Sortino | 2.57% | -0.72% | - | - |
| Treynor | 0.05% | -0.05% | - | - |
| Tax Efficiency | 67.96% | - | - | - |
| Start Date | July 05, 2019 |
|---|---|
| Instrument Type | Mutual Fund (Alternative) |
| Share Class | Commission Based Advice |
| Legal Status | Trust |
| Sales Status | Open |
| Currency | CAD |
| Distribution Frequency | Monthly |
| Assets ($mil) | - |
| FundServ Code | Load Code | Sales Status |
|---|---|---|
| PIC3500 |
The investment objective of the Picton Mahoney Fortified Income Alternative Fund (the “Fund”) is to maximize total return to unitholders through income and capital appreciation by investing primarily in global fixed income securities while mitigating capital loss through shorting and other hedging strategies.
To achieve the investment objective, the Fund invests in an actively managed portfolio composed primarily of North American corporate debt securities. The Fund may also invest in government bonds, loans (including floating rate loans, senior loans, unsecured loans and distressed securities), convertible bonds and derivatives. The Fund may invest no more than 5% of its portfolio in preferred shares and equities.
| Name | Start Date |
|---|---|
| Picton Mahoney Asset Management | 07-05-2019 |
| Fund Manager | Picton Mahoney Asset Management |
|---|---|
| Advisor | Picton Mahoney Asset Management |
| Custodian | RBC Investor & Treasury Services |
| Registrar | RBC Investor & Treasury Services |
| Distributor | - |
| Auditor | PriceWaterhouseCoopers LLP |
| RSP Eligible | Yes |
|---|---|
| PAC Allowed | Yes |
| PAC Initial Investment | 0 |
| PAC Subsequent | 0 |
| SWP Allowed | No |
| SWP Min Balance | - |
| SWP Min Withdrawal | - |
| MER | 2.77% |
|---|---|
| Management Fee | 1.95% |
| Load | Back Fee Only |
| FE Max | 5.00% |
| DSC Max | - |
| Trailer Fee Max (FE) | - |
| Trailer Fee Max (DSC) | - |
| Trailer Fee Max (NL) | - |
| Trailer Fee Max (LL) | - |
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