Picton Mahoney Asset Management announces closing date for one of its hedge fund offerings



    The Picton Mahoney Market Neutral Equity Fund will be closed to new
    investments on or before September 28, 2007

    TORONTO, Sept. 5 /CNW/ - Picton Mahoney Asset Management today announced
that the Picton Mahoney Market Neutral Equity Fund will be closed to new
investments on or before September 28, 2007. This decision was made in light
of the strong level of capital inflows into the fund and is in keeping with
Picton Mahoney's commitment to providing authentic, nimble hedge fund
solutions with limited capacity.
    The Fund was introduced in December 2005 to offer Canadian investors
attractive risk-adjusted returns with low correlation to major stock market
indices. Since inception, the Fund has delivered on both objectives: as at
August 31, 2007, the Picton Mahoney Market Neutral Fund has performed
independently of the Canadian market, generating positive monthly performance
95% of the time with a beta of 0.17.
    "In late 2005, we introduced our first hedge fund solutions to help
Canadian investors strengthen their investment portfolios. We felt that there
weren't enough authentic hedge funds in Canada that focused on generating
solid investment results with low correlation to the performance of the
overall stock market," said David Picton, President, Chief Investment Officer
and Portfolio Manager of Picton Mahoney Asset Management. "At that time, we
promised our clients we would monitor the capacity of our funds to ensure they
remained nimble enough for us to meet their investment objectives. Our
decision to cap the Market Neutral Fund as it nears $150 million in sales is
evidence of our commitment to our founding principles of authenticity and
limited capacity."
    Those interested in enhancing the risk-adjusted return profile of their
portfolios with Picton Mahoney's authentic market neutral hedge solution are
encouraged to speak with their Investment Advisor before the Fund closes to
new investments later this month.

    About Picton Mahoney Asset Management

    Picton Mahoney Asset Management (PMAM) is a Canadian portfolio management
boutique entrusted with over $4.5 billion in assets for investors through
three lines of investment solutions: authentic hedge funds, institutional
long-only mandates and retail mutual fund sub-advisory services. PMAM's
investment focus is earnings momentum and growth strategies with expertise in
Canadian, U.S. and global equities.





For further information:

For further information: please contact Dean Shepard at 1-866-369-4108
or to view monthly performance data for the Picton Mahoney Market Neutral
Equity Fund, please visit us at www.pictonmahoney.com


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