Picton Mahoney Tactical Income Fund Announces Target Monthly Distribution Rate for 2016 and Monthly Distribution for January 2016

TORONTO, Jan. 15, 2016 /CNW/ - (TSX: PMB.UN) Picton Mahoney Tactical Income Fund (the "Fund"), a closed-end investment fund, announced today the target monthly distribution rate for 2016. While the Fund does not have a fixed distribution, distributions are targeted to be 5% per annum of the net asset value per unit. Monthly distributions are now targeted to be equal to $0.0338 per unit for Class A and $0.0358 per unit for Class F moving forward.

The change in targeted monthly distribution for the Fund takes into account many factors, including but not limited to, the Fund's current and expected earnings, the overall market environment and Picton Mahoney's current economic and market outlook.

The Fund has also declared a monthly distribution for Class A of $0.0338 per unit ($0.4056 per unit on an annualized basis) and for Class F of $0.0358 per unit ($0.4296 per unit on an annualized basis) for the month of January 2016. The distribution will be paid on or before February 22, 2016 to unitholders of record as at January 29, 2016.

SOURCE Picton Mahoney Asset Management

For further information: Arthur Galloway, Picton Mahoney Asset Management, Tel: (416) 955-4108, Web site: www.pictonmahoney.com, Email: service@pictonmahoney.com

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