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Picton Mahoney Fortified Market Neutral Alternative Fund Class A

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Alternative Market Neutrl

FundGrade A Click for more information on Fundata’s FundGrade

FundGrade A

Click for more information on Fundata’s FundGrade.

Fundata ESG GradeD Click for more information on Fundata’s ESG Grade

Fundata ESG Grade D

Click for more information on Fundata’s ESG Grade.

FundGrade A+® Rating Recipient

FundGrade A+® Rating Recipient

2024, 2023, 2022

Click for more information on Fundata’s FundGrade

NAVPS
(06-04-2025) 		$15.41
Change
-$0.02 (-0.11%)

As at April 30, 2025

As at January 31, 2025

As at April 30, 2025

Period
Created with Highcharts 10.3.3Jan 2019Jul 2019Jan 2020Jul 2020Dec 2020May 2021Oct 2021Mar 2022Aug 2022Jan 2023Jun 2023Nov 2023May 2024Oct 2024Mar 2025Apr 2022Jul 2022Oct 2022Apr 2023Jul 2023Oct 2023Jan 2024Apr 2024Jul 2024Jan 2025Mar 2019Jan 2020Dec 2020Oct 2021Aug 2022Jul 2023May 2024$10,000$12,000$14,000$16,000$8,000$9,500$10,500$11,000$11,500$12,500Period

Legend

Picton Mahoney Fortified Market Neutral Alternative Fund Class A

Compare Options

Fund Returns

Inception Return (September 27, 2018): 6.99%

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 1.61% 0.48% 3.09% 0.64% 8.52% 7.54% 6.61% 5.87% 8.17% 7.45% - - - -
Benchmark -0.10% -2.00% 4.34% 1.41% 17.85% 13.20% 9.57% 10.07% 14.37% 10.31% 10.21% 9.29% 9.91% 8.27%
Category Average 0.79% 0.50% 2.23% 1.02% 6.54% 6.61% 4.46% 1.41% 2.24% 1.05% - - - -
Category Rank 14 / 44 23 / 44 14 / 44 26 / 44 9 / 38 10 / 37 9 / 33 9 / 26 8 / 16 4 / 14 - - - -
Quartile Ranking 2 3 2 3 1 2 2 2 2 2 - - - -

Monthly Return

Created with Highcharts 10.3.3-4%-2%0%2%4%6%8%
Monthly Return
Return % May Jun Jul Aug Sep Oct Nov Dec Jan Feb Mar Apr
Fund 0.86% 0.97% 0.16% 1.37% 0.69% 1.11% 1.71% 0.70% 0.15% -0.22% -0.89% 1.61%
Benchmark 2.77% -1.42% 5.87% 1.22% 3.15% 0.85% 6.37% -3.27% 3.48% -0.40% -1.51% -0.10%

Best Monthly Return Since Inception

4.17% (April 2020)

Worst Monthly Return Since Inception

-4.56% (March 2020)

Calendar Return (%)

Created with Highcharts 10.3.3-20%-10%0%10%20%30%
Calendar Return
Return % 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024
Fund - - - - 4.93% 16.21% 4.98% 4.75% 1.88% 14.12%
Benchmark -8.32% 21.08% 9.10% -8.89% 22.88% 5.60% 25.09% -5.84% 11.75% 21.65%
Category Average - - - - - -3.57% -6.24% -1.79% 4.02% 9.41%
Quartile Ranking - - - - - 1 2 2 3 2
Category Rank - - - - - 4/ 16 11/ 23 11/ 33 25/ 37 11/ 37

Best Calendar Return (Last 10 years)

16.21% (2020)

Worst Calendar Return (Last 10 years)

1.88% (2023)

Asset Allocation

Asset Allocation
Name Percent
Cash and Equivalents 59.67
Canadian Equity 38.56
Income Trust Units 1.91
Canadian Corporate Bonds 1.13
International Equity 0.14
Other -1.41

Sector Allocation

Sector Allocation
Name Percent
Cash and Cash Equivalent 59.67
Financial Services 12.14
Technology 7.02
Basic Materials 5.28
Energy 4.93
Other 10.96

Geographic Allocation

Geographic Allocation
Name Percent
North America 99.16
Europe 1.20
Multi-National 0.18
Latin America 0.08
Africa and Middle East -0.15
Other -0.47

Top Holdings

Top Holdings
Name Percent
Canada Government 22-May-2025 11.99
CAD Currency 9.97
Canada Government 18-Jun-2025 7.92
Canada Government 09-Apr-2025 7.60
Canada Government 16-Jul-2025 6.59
Canadian Treasury Bill % 27-Mar-2025 4.37
Canadian Treasury Bill % 24-Apr-2025 4.36
Canada Government 13-Aug-2025 4.32
Toronto-Dominion Bank 2.65
Canadian Pacific Kansas City Ltd 2.47

Equity Style

Market capitalization is large. Equity style is growth.

Fixed Income Style

Average Duration: S. Average Credit Quality: H.
Period: 

Risk vs Return (3 Yr)

Created with Highcharts 10.3.3Risk (Annualized Standard Deviation)ReturnMedian DeviationMedian Return12345678910111213141516-5%0%5%10%15%

Picton Mahoney Fortified Market Neutral Alternative Fund Class A

Median

Other - Alternative Market Neutrl

3 Yr Annualized

Standard Deviation 2.97% 3.79% -
Beta 0.00% 0.07% -
Alpha 0.06% 0.07% -
Rsquared 0.00% 0.06% -
Sharpe 0.86% 1.46% -
Sortino 2.14% 2.48% -
Treynor -15.42% 0.78% -
Tax Efficiency 97.48% 98.65% -
Volatility Volatility rating is 1 on a scale of 1 to 10 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 2.67% 2.97% 3.79% -
Beta 0.06% 0.00% 0.07% -
Alpha 0.07% 0.06% 0.07% -
Rsquared 0.05% 0.00% 0.06% -
Sharpe 1.69% 0.86% 1.46% -
Sortino 4.22% 2.14% 2.48% -
Treynor 0.80% -15.42% 0.78% -
Tax Efficiency 100.00% 97.48% 98.65% -

Fundata ESG Metrics

Fundata ESG Score

Created with Highcharts 10.3.3Grade: EGrade: DGrade: CGrade: BGrade: A21.9​21.965.1​65.10%10%20%30%40%50%60%70%80%90%100%

The E, S, and G scores are averaged for each security in the portfolio, to arrive at an ESG score for each security. We take the portfolio weighted average of the ESG scores for each fund and rank them against their peers to arrive at the Fundata ESG Score from 0-100.

Fundata E Score

Created with Highcharts 10.3.3Grade: EGrade: DGrade: CGrade: BGrade: A19.1​19.163.5​63.50%10%20%30%40%50%60%70%80%90%100%

Three scores under the Environment bucket are averaged to yield the Fundata Environment Score for each fund from 0-100: (1) Pollution Prevention, (2) Environmental Transparency, (3) Resource Efficiency.

Fundata S Score

Created with Highcharts 10.3.3Grade: EGrade: DGrade: CGrade: BGrade: A19.7​19.761.3​61.30%10%20%30%40%50%60%70%80%90%100%

Six scores under the Social bucket are averaged to yield the Fundata Social Score for each fund from 0-100. (1) Compensation and Satisfaction, (2) Diversity and Rights, (3) Education and Work Conditions, (4) Community and Charity, (5) Human Rights, (6) Sustainability Integration.

Fundata G Score

Created with Highcharts 10.3.3Grade: EGrade: DGrade: CGrade: BGrade: A30.5​30.569.3​69.30%10%20%30%40%50%60%70%80%90%100%

Three scores under the governance bucket are averaged to yield the Fundata Governance Score for each fund from 0-100: (1) Board Effectiveness, (2) Management Ethics, (3) Disclosure and Accountability.

Powered by OWL Analytics. For more information, please contact Fundata Canada.

View the full methodology

Fund Details

Start Date September 27, 2018
Instrument Type Mutual Fund (Alternative)
Share Class Commission Based Advice
Legal Status Trust
Sales Status Open
Currency CAD
Distribution Frequency Annual
Assets ($mil) $2,206

Fund Codes

FundServ Code Load Code Sales Status
PIC3100

Investment Objectives

The investment objective of the Picton Mahoney Fortified Market Neutral Alternative Fund (the “Fund”) is to provide consistent long-term capital appreciation and to provide unitholders with an attractive risk-adjusted rate of return with less volatility than traditional equity markets and low correlation to major equity markets.

Investment Strategy

To achieve the investment objective, the Fund invests in an actively managed long portfolio comprised primarily of equity securities identified as attractive investment candidates by the Portfolio Advisor’s investment process. Consistent with the investment objectives of the Fund, up to 100% of the aggregate market value of the Fund may be sold short, as permitted by securities regulations.

Portfolio Management

Portfolio Manager

Picton Mahoney Asset Management
Sub-Advisor

-

Management and Organization

Fund Manager

Picton Mahoney Asset Management
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 No
SWP Min Balance -
SWP Min Withdrawal -

Fees

MER 5.16%
Management Fee 1.95%
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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