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Picton Mahoney Asset Management ("Picton Mahoney"), an alternative investment fund manager of the Picton Mahoney Fortified Alternative Fund family and the largest offering of liquid alternatives in Canada1, is celebrating the fifth anniversary of its Fortified Mutual Funds.
"Five years ago, we launched a suite of mutual funds designed to provide investors and advisors with access to our unique alternative investment management capabilities in a mutual fund structure," said David Picton, President, CEO and Portfolio Manager, Picton Mahoney. "Our Fortified Mutual Funds use our proven approach which aims to manage volatility, mitigate downside risk and enhance the quality of returns for investors. We are pleased to celebrate this milestone while we continue to focus on our stated mission to help investors achieve their financial goals with greater certainty."
The Picton Mahoney Fortified Multi-Asset Fund (Class F) received an Overall Morningstar RatingTM of 5 stars as of October 31, 2020. The rating is based on monthly risk-adjusted returns across 316 funds in the Tactical Balanced category as of October 31, 2020. The Picton Mahoney Fortified Income Fund (Class F) received an Overall Morningstar RatingTM of 5 stars as of October 31, 2020. The rating is based on monthly risk-adjusted returns across 416 funds in the High Yield Fixed Income category as of October 31, 2020.
Picton Mahoney Fortified Multi-Asset Fund Class F
***** Overall Rating
***** 5 Year Rating
***** 3 Year Rating
3 year (%)
5 year (%)
Picton Mahoney Fortified Multi-Asset
Tactical Balanced Category Average
Source: Morningstar Direct as of October 31, 2020. 2Difference refers to the amount by which the fund’s returns exceeded the Tactical Balanced category average returns for the periods shown.
Picton Mahoney Fortified Income Fund Class F
***** Overall Rating
***** 5 Year Rating
**** 3 Year Rating
Picton Mahoney Fortified Income
High Yield Fixed Income Category
Source: Morningstar Direct as of October 31, 2020. 2Difference refers to the amount by which the fund’s returns exceeded the High Yield Fixed Income category average returns for the periods shown.
Picton Mahoney Fortified Equity Fund Class F
Picton Mahoney Fortified Equity
Global Equity Category Average
Source: Morningstar Direct as of October 31, 2020. 2Difference refers to the amount by which the fund’s returns exceeded the Global Equity category average returns for the periods shown.
The Morningstar RatingTM, commonly referred to as the Star Rating, relates how a fund has performed on a risk-adjusted basis against its Morningstar category peers and is subject to change every month. Funds are ranked by their Morningstar Risk-Adjusted Return scores with the top 10% of funds in a category receiving 5 stars, the top 22.5% receiving 4 stars. A fund in the middle 35% receiving 3 stars, a fund in the next 22.5% receiving 2 stars and a fund in the bottom 10% receiving 1 star. The overall Star Rating for a fund is a weighted combination of its 3, 5 and 10 year ratings. Overall ratings are adjusted where a fund has less than 5 or 10 years of history. To receive a Morningstar Rating, a fund must have a record of more than three years. The ratings are applicable as of October 1, 2020 to October 31, 2020 and are updated on a monthly basis by Morningstar. Please refer to www.morningstar.ca for greater detail on the calculation of the Star Ratings.
The Tactical Balanced category is based on Retail Investment Fund Category Definitions from the Canadian Investment Funds Standards Committee ("CIFSC"). Funds in the Tactical Balanced category must have a flexible asset allocation policy ranging from 40% (or less) to 60% (or more) in each of equity and fixed income securities. Inclusion in this category may be based on: i) a written asset allocation policy meeting the above definition (i.e. in a fund’s prospectus or written investment policy); ii) a portfolio manager’ or sub-adviser’s stated or known approach to managing portfolios; or iii) the fund’s historical asset allocation tendencies. The portfolio manager or sub-adviser may employ one or more methods to make their asset allocation decisions. The High Yield Fixed Income category is based on Retail Investment Fund Category Definitions from CISFC. Funds in the High Yield Fixed Income category must invest primarily in fixed-income securities with a non-investment-grade credit rating, such that their average credit quality is below investment grade (Lower than BBB or equivalent) or in excess of 40% of the portfolio’s holdings are invested in high yield fixed income securities. The Global Equity category is based on Retail Investment Fund Category Definitions from CIFSC. Funds in the Global Equity category must invest in securities domiciled anywhere across the globe such that their average market capitalization is greater than the small/mid cap threshold, and invest more than 10% and less than 90% of their equity holdings in Canada or the U.S. Funds that do not meet any of the requirements of other geographic equity categories and have no formal restrictions that limit where they can invest will be assigned to this category.
Average performance returns for each of the Tactical Balanced, High Yield Fixed Income and Global Equity categories are calculated by Morningstar Inc. on a monthly basis and are as at October 31, 2020. For more information, visit Morningstar.ca
The performance data quoted here represents past performance. Past performance is no guarantee of future performance. Investment return and principal value will fluctuate, so that an investor's units may be worth more or less than their original cost when redeemed. Current performance may be lower or higher than the performance information quoted above.
Please consider each Fund's investment objectives, risks, fees and expenses carefully before investing.
To learn more about Picton Mahoney’s family of Fortified Funds and to obtain performance information current to the most recent month-end, please visit: https://www.pictonmahoney.com/Performance/Fortified-Funds.aspx.
1 Based on the number of liquid alternative mutual funds offered in Canada within a single fund family as at October 31, 2020
© 2020 Morningstar Research Inc. All Rights Reserved. The information contained herein: (1) is proprietary to Morningstar; (2) may not be copied or distributed; and (3) is not warranted to be accurate, complete or timely. Neither Morningstar nor its content providers are responsible for any damages or losses arising from any use of this information. Past performance is no guarantee of future results. Morningstar Ratings are for the F share classes only; other classes may have different performance characteristics.
About Picton Mahoney Asset Management
Picton Mahoney Asset Management specializes in differentiated investment solutions and rules-based volatility management. Picton Mahoney helps its clients fortify their portfolios based on experience honed over the years through different market cycles and investing environments.
Founded in 2004 and 100% employee-owned, Picton Mahoney is a portfolio management boutique entrusted with over $7.6 billion (as at September 30, 2020) in assets under management. Pioneers of Authentic Hedge® investment principles and practices in Canada, the firm offers a full suite of investment solutions, including mutual and alternative funds, to institutional and retail investors across the country.
Commissions, trailing commissions, management fees, performance fees and expenses all may be associated with mutual fund investments. Please read the prospectus before investing. The indicated rates of return are the historical annual compounded total returns including changes in unit value and reinvestment of all distributions and do not take into account sales, redemption, distribution or optional charges or income taxes payable by any unitholder that would have reduced returns. Mutual funds are not guaranteed, their values change frequently, and past performance may not be repeated. Alternative funds can only be purchased through a registered dealer and are available only in those jurisdictions where they may be lawfully offered for sale.
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