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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)
$8.88
Change
-$0.01 (-0.12%)

As at March 31, 2024

As at February 29, 2024

Period
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Legend

Picton Mahoney Fortified Special Situations Alternative Fund Class A

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Fund Returns

Inception Return (July 13, 2021): 1.75%

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 0.66% 1.05% -1.05% 2.23% 8.75% 3.39% - - - - - - - -
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 61 / 120 64 / 120 82 / 119 64 / 120 37 / 116 48 / 102 - - - - - - - -
Quartile Ranking 3 3 3 3 2 2 - - - - - - - -

Monthly Return

Monthly Return
Return % Apr May Jun Jul Aug Sep Oct Nov Dec Jan Feb Mar
Fund 2.12% -0.34% 0.95% 0.41% -0.02% 0.24% -1.05% 2.43% 1.50% 1.05% 0.50% 0.66%
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

2.43% (November 2023)

Worst Monthly Return Since Inception

-2.19% (May 2022)

Calendar Return (%)

Calendar Return
Return % 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023
Fund - - - - - - - - -2.54% 6.53%
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 3
Category Rank - - - - - - - - 43/ 98 61/ 116

Best Calendar Return (Last 10 years)

6.53% (2023)

Worst Calendar Return (Last 10 years)

-2.54% (2022)

Asset Allocation

Asset Allocation
Name Percent
Canadian Corporate Bonds 61.59
Cash and Equivalents 16.61
Canadian Equity 10.45
Foreign Corporate Bonds 9.90
US Equity 0.69
Other 0.76

Sector Allocation

Sector Allocation
Name Percent
Fixed Income 71.93
Cash and Cash Equivalent 16.62
Energy 5.55
Financial Services 2.42
Basic Materials 2.19
Other 1.29

Geographic Allocation

Geographic Allocation
Name Percent
North America 98.52
Europe 1.30
Latin America 0.18

Top Holdings

Top Holdings
Name Percent
Permian Resources Operatng LLC 8.00% 15-Apr-2024 3.97
Royal Bank of Canada 4.50% 24-Oct-2025 3.63
Prime Healthcare Services Inc 7.25% 01-Feb-2024 3.34
Toronto-Dominion Bank 7.23% PERP 3.22
Royal Bank of Canada 7.41% 31-Dec-2049 2.94
Rogers Communications Inc 5.00% 17-Dec-2026 2.77
Vista Outdoor Inc 4.50% 15-Mar-2024 2.75
National Bank of Canada 7.50% 16-Oct-2027 2.60
Secure Energy Services Inc 7.25% 30-Dec-2026 2.53
APX Group Inc 5.75% 15-Jul-2024 2.53

Equity Style

Equity style data not available

Fixed Income Style

Average Duration: S. Average Credit Quality: .

Risk vs Return (3 Yr)

3 Yr Annualized

Standard Deviation - - -
Beta - - -
Alpha - - -
Rsquared - - -
Sharpe - - -
Sortino - - -
Treynor - - -
Tax Efficiency - - -
Volatility - - -

Risk Rating

Rating Not Available

Annualized Key Ratio Period Comparison

Key Ratio
Key Ratio 1 Yr 3 Yr 5 Yr 10 Yr
Standard Deviation - - - -
Beta - - - -
Alpha - - - -
Rsquared - - - -
Sharpe - - - -
Sortino - - - -
Treynor - - - -
Tax Efficiency - - - -

Fund Details

Start Date July 13, 2021
Instrument Type Mutual Fund (Alternative)
Share Class Commission Based Advice
Legal Status Trust
Sales Status Open
Currency CAD
Distribution Frequency Annual
Assets ($mil) $195

Fund Codes

FundServ Code Load Code Sales Status
PIC3550

Investment Objectives

The investment objective of the Picton Mahoney Fortified Special Situations Alternative Fund (the “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

Investment Strategy

The Fund seeks to build a diversified portfolio by investing long or short in event driven, credit situations including fixed income securities that are impacted by some form of catalyst such as a corporate event, capital structure reorganization or other opportunistic situations.

Portfolio Manager(s)

Name Start Date
Picton Mahoney Asset Management 07-12-2021

Management and Organization

Fund Manager Picton Mahoney Asset Management
Advisor Picton Mahoney Asset Management
Custodian RBC Investor Services Trust
Registrar RBC Investor Services Trust (Canada)
Distributor -
Auditor PricewaterhouseCoopers LLP

Investment Minimums

RSP Eligible Yes
PAC Allowed Yes
PAC Initial Investment -
PAC Subsequent -
SWP Allowed Yes
SWP Min Balance -
SWP Min Withdrawal -

Fees

MER 2.75%
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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