TORONTO, Jan. 8 /CNW/ - Picton Mahoney Asset Management announced that
the Picton Mahoney Long Short Equity Fund and the Picton Mahoney Market
Neutral Equity Fund are open to new investors. The decision to open the
Domestic Hedge Funds was made in response to the demands of clients and
Investment Advisors looking for greater access to Picton Mahoney's authentic
hedge fund solutions.
The Funds were introduced in late 2005 to offer Canadian investors
attractive risk-adjusted returns with less correlation to major stock market
indices. Due to strong levels of capital inflows, and in keeping with Picton
Mahoney's commitment to keeping the funds nimble and manageable, the Funds
limited the acceptance of new investor capital in 2008.
Since inception, these Funds have delivered on their mandates to generate
returns less correlated to the overall stock market: as at December 31, 2008,
the Market Neutral Equity fund generated positive monthly performance 83% of
the time with a beta of 0.12 and the Long Short Equity Fund generated positive
monthly performance 77% of the time with a beta of 0.62.
"Authentic hedge offerings are an ideal strategy for today's volatile
markets, given their prudent focus on risk management and ability to
capitalize on opportunities in all market conditions," said David Picton,
President, Chief Investment Officer and Portfolio Manager of Picton Mahoney
Asset Management. "Since we limited capacity in the funds last year, we have
fielded numerous requests to open them. Given current market conditions, we
are now in a position to respond to this need and allow more investors access
to these popular, reliable offerings. As always, we will continue to monitor
capacity to ensure that our flagship funds remain nimble enough for us to meet
their investment objectives."
Notice of Distributions: Picton Mahoney also announced year-end
distributions for the Global Market Neutral Equity US Dollar Fund, launched in
February 2008. The distributions for the year ended December 31, 2008, were
capital gains in the amount of $1.0404 US per unit for Class A and $1.08253 US
per unit for Class F. These were paid to unitholders of record as at December
Those interested in enhancing the risk-adjusted return profile of their
portfolios with Picton Mahoney's authentic hedge solutions are encouraged to
speak with their Investment Advisor.
About Picton Mahoney Asset Management - Leaders in Volatility Management
Picton Mahoney Asset Management (PMAM) is a Canadian portfolio management
boutique entrusted with $3.7 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: Dean Shepard at (778) 834-1776 or Aaron Ferrera
at (416) 955-4118. To view monthly performance data for the Picton Mahoney
funds, visit us at www.pictonmahoney.com