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Alternative Credit Focus

FundGrade C Click for more information on Fundata’s FundGrade

FundGrade C

Click for more information on Fundata’s FundGrade.

NAVPS
(04-11-2024)
$9.28
Change
-$0.01 (-0.10%)

As at March 31, 2024

As at February 29, 2024

Period
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Legend

Picton Mahoney Fortified Income Alternative Fund Class A

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Fund Returns

Inception Return (July 05, 2019): 3.35%

Fund Returns
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% 0.71% -0.63% 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% 1.93% 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 - - - - - -

Monthly Return

Monthly Return
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%

Best Monthly Return Since Inception

2.86% (April 2020)

Worst Monthly Return Since Inception

-7.18% (March 2020)

Calendar Return (%)

Calendar Return
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

Best Calendar Return (Last 10 years)

7.53% (2020)

Worst Calendar Return (Last 10 years)

-4.29% (2022)

Asset Allocation

Asset Allocation
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

Sector Allocation

Sector Allocation
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

Geographic Allocation

Geographic Allocation
Name Percent
North America 98.37
Europe 1.52
Latin America 0.11

Top Holdings

Top Holdings
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

Equity Style

Equity style data not available

Fixed Income Style

Fixed income style data not available
Period: 

Risk vs Return (3 Yr)

Picton Mahoney Fortified Income Alternative Fund Class A

Median

Other - Alternative Credit Focus

3 Yr Annualized

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 Volatility rating is 1 on a scale of 1 to 10 - -

Risk Rating

Rating 1 out of ten

Annualized Key Ratio Period Comparison

Key Ratio
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% - - -

Fund Details

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) $1,061

Fund Codes

FundServ Code Load Code Sales Status
PIC3500

Investment Objectives

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.

Investment Strategy

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.

Portfolio Manager(s)

Name Start Date
Picton Mahoney Asset Management 07-05-2019

Management and Organization

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

Investment Minimums

RSP Eligible Yes
PAC Allowed Yes
PAC Initial Investment 0
PAC Subsequent 0
SWP Allowed No
SWP Min Balance -
SWP Min Withdrawal -

Fees

MER 2.36%
Management Fee 1.95%
Load Front Fee Only
FE Max 1.00%
DSC Max -
LL Max -
Trailer Fee Max (FE) 1.00%
Trailer Fee Max (DSC) -
Trailer Fee Max (NL) -
Trailer Fee Max (LL) -

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