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PICTON Income Fund Class A
High Yield Fixed Income
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FundGrade C
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FundGrade A+® Rating Recipient
2018
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|
NAVPS (07-14-2026) |
$9.85 |
|---|---|
| Change |
$0.01
(0.10%)
|
As at June 30, 2026
As at November 30, 2025
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Legend
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Fund Returns
Inception Return (November 02, 2015): 4.28%
| 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 | 0.22% | 0.85% | 0.11% | 0.11% | 2.43% | 4.63% | 5.26% | 4.65% | 2.34% | 3.39% | 3.30% | 2.97% | 2.87% | 4.12% |
| Benchmark | 2.93% | 4.53% | 5.26% | 5.26% | 9.62% | 10.56% | 11.83% | 12.00% | 6.19% | 6.01% | 5.66% | 5.81% | 5.54% | 6.21% |
| Category Average | 0.09% | 2.19% | 1.64% | 1.64% | 4.58% | 6.07% | 6.70% | 6.25% | 2.52% | 3.98% | 3.29% | 3.45% | 3.22% | 3.69% |
| Category Rank | 136 / 253 | 250 / 252 | 236 / 250 | 236 / 250 | 224 / 245 | 210 / 242 | 222 / 235 | 223 / 232 | 159 / 229 | 182 / 218 | 136 / 212 | 160 / 197 | 145 / 185 | 89 / 169 |
| Quartile Ranking | 3 | 4 | 4 | 4 | 4 | 4 | 4 | 4 | 3 | 4 | 3 | 4 | 4 | 3 |
Monthly Return
| Return % | Jul | Aug | Sep | Oct | Nov | Dec | Jan | Feb | Mar | Apr | May | Jun |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Fund | 0.53% | 0.89% | 0.60% | 0.21% | -0.08% | 0.16% | 0.46% | -0.45% | -0.74% | 0.13% | 0.49% | 0.22% |
| Benchmark | 1.52% | 0.80% | 2.13% | 0.55% | -0.09% | -0.80% | -0.26% | 0.83% | 0.13% | -0.18% | 1.73% | 2.93% |
Best Monthly Return Since Inception
3.01% (March 2016)
Worst Monthly Return Since Inception
-4.94% (March 2020)
Calendar Return (%)
| Return % | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Fund | 16.28% | 8.12% | -2.72% | 5.37% | 6.71% | 2.18% | -6.03% | 5.88% | 7.35% | 5.31% |
| Benchmark | 10.80% | 2.96% | 5.36% | 7.98% | 6.14% | 0.50% | -6.92% | 10.36% | 17.23% | 5.59% |
| Category Average | 9.58% | 5.34% | -2.63% | 9.49% | 5.35% | 3.21% | -10.00% | 8.59% | 7.12% | 5.98% |
| Quartile Ranking | 1 | 1 | 3 | 4 | 1 | 4 | 1 | 4 | 3 | 3 |
| Category Rank | 24/ 168 | 15/ 176 | 95/ 187 | 204/ 211 | 51/ 217 | 189/ 222 | 27/ 229 | 221/ 235 | 142/ 241 | 131/ 242 |
Best Calendar Return (Last 10 years)
16.28% (2016)
Worst Calendar Return (Last 10 years)
-6.03% (2022)
Asset Allocation
| Name | Percent |
|---|---|
| Canadian Corporate Bonds | 52.39 |
| Foreign Corporate Bonds | 31.39 |
| Cash and Equivalents | 11.65 |
| Mortgages | 2.03 |
| US Equity | 1.55 |
| Other | 0.99 |
Sector Allocation
| Name | Percent |
|---|---|
| Fixed Income | 85.87 |
| Cash and Cash Equivalent | 11.65 |
| Real Estate | 0.78 |
| Telecommunications | 0.64 |
| Energy | 0.56 |
| Other | 0.50 |
Geographic Allocation
| Name | Percent |
|---|---|
| North America | 99.45 |
| Latin America | 0.55 |
| Europe | 0.00 |
Top Holdings
| Name | Percent |
|---|---|
| CAD Currency | 10.19 |
| Chemtrade Logistics Inc 6.38% 28-Aug-2029 | 1.96 |
| ATS Corp 6.50% 21-Aug-2032 | 1.62 |
| Sleep Country Canada Hldgs Inc 6.63% 28-Nov-2032 | 1.56 |
| Sunoco LP 4.38% 26-Mar-2029 | 1.49 |
| Rocket Cos Inc 7.13% 01-Feb-2032 | 1.37 |
| Coeur Mining Inc 5.13% 15-Feb-2029 | 1.30 |
| Sunoco LP 4.63% 01-May-2030 | 1.27 |
| IAMGOLD Corp 5.75% 15-Oct-2028 | 1.27 |
| Chemtrade Logistics Inc 5.75% 01-Oct-2032 | 1.25 |
Equity Style
Fixed Income Style
Risk vs Return (3 Yr)
PICTON Income Fund Class A
Median
Other - High Yield Fixed Income
3 Yr Annualized
| Standard Deviation | 1.98% | 2.93% | 3.40% |
|---|---|---|---|
| Beta | 0.14 | 0.29 | 0.30 |
| Alpha | 0.04 | 0.01 | 0.02 |
| Rsquared | 0.10% | 0.36% | 0.32% |
| Sharpe | 0.83 | -0.20 | 0.64 |
| Sortino | 2.19 | -0.29 | 0.45 |
| Treynor | 0.12 | -0.02 | 0.07 |
| Tax Efficiency | 61.29% | 20.37% | - |
| Volatility |
|
|
|
Risk Rating
Annualized Key Ratio Period Comparison
| Key Ratio | 1 Yr | 3 Yr | 5 Yr | 10 Yr |
|---|---|---|---|---|
| Standard Deviation | 1.58% | 1.98% | 2.93% | 3.40% |
| Beta | 0.13 | 0.14 | 0.29 | 0.30 |
| Alpha | 0.01 | 0.04 | 0.01 | 0.02 |
| Rsquared | 0.10% | 0.10% | 0.36% | 0.32% |
| Sharpe | 0.05 | 0.83 | -0.20 | 0.64 |
| Sortino | -0.46 | 2.19 | -0.29 | 0.45 |
| Treynor | 0.01 | 0.12 | -0.02 | 0.07 |
| Tax Efficiency | 25.95% | 61.29% | 20.37% | - |
Fund Details
| Start Date | November 02, 2015 |
|---|---|
| Instrument Type | Mutual Fund |
| Share Class | Commission Based Advice |
| Legal Status | Trust |
| Sales Status | Open |
| Currency | CAD |
| Distribution Frequency | Quarterly |
| Assets ($mil) | $1,299 |
Fund Codes
| FundServ Code | Load Code | Sales Status |
|---|---|---|
| PIC8500 |
Investment Objectives
The investment objective of the Picton Mahoney Fortified Income Fund (the “Fund”) is to maximize total return to unitholders through income and capital appreciation by investing primarily in global income securities while mitigating capital loss by engaging in hedging strategies for downside risk protection. The fundamental investment objective of the Fund will not change without the consent of a majority of the voting unitholders of the Fund.
Investment Strategy
To achieve the investment objective, the Fund invests in an actively managed portfolio composed primarily of global corporate debt securities. The Fund may also invest in government bonds, loans, and convertible bonds. The Fund may invest no more than 25% of its portfolio in preferred shares and equities, such as ETFs and other mutual funds, including mutual funds managed by the Portfolio Advisor.
Portfolio Management
| Portfolio Manager |
PICTON Investments
|
|---|---|
| Sub-Advisor |
- |
Management and Organization
| Fund Manager |
PICTON Investments |
|---|---|
| Custodian |
RBC Investor Services Trust |
| Registrar |
RBC Investor Services Trust |
| Distributor |
- |
Investment Minimums
| RSP Eligible | Yes |
|---|---|
| PAC Allowed | No |
| PAC Initial Investment | - |
| PAC Subsequent | - |
| SWP Allowed | Yes |
| SWP Min Balance | 500 |
| SWP Min Withdrawal | 500 |
Fees
| MER | 2.26% |
|---|---|
| Management Fee | 1.90% |
| Load | Back Fee Only |
| FE Max | 5.00% |
| DSC Max | - |
| Trailer Fee Max (FE) | 1.00% |
| Trailer Fee Max (DSC) | - |
| Trailer Fee Max (NL) | - |
| Trailer Fee Max (LL) | - |
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