For educational purposes only. Nothing on this site constitutes investment advice. Disclaimers
PFLS.TO - Picton Mahoney Fortified Long Short Alternative Fund ETF
Global long/short equity with moderate net exposure from Picton: Fortified risk budgeting in an ETF wrapper.
PFLS price history
Total return (Yahoo adjusted close—dividends and splits per Yahoo), normalized to $10,000 at first available trade date. Educational only.
Strategy
Long book leans resilient growers and quality cyclicals; shorts fund factor and single-name hedges. You keep meaningful equity risk, just damped next to 100% long TSX or ACWI.
Global book means FX and session risk. Check the docs for how much USD/EUR is hedged back to CAD. *Fee note: 0.95% management fee plus 20% performance fee above a 2% hurdle rate.
Manager and Issuer Pedigree
Picton (PICTON Investments, formerly Picton Mahoney) is one of Canada’s larger independent alternatives managers. Issuer figures put group assets near $14B CAD firmwide, enough infrastructure for long/short, multi-strategy, and market-neutral books while still boutique versus global banks.
Fortified® and Authentic Hedge® are Picton’s risk-budgeted alts franchises; the ETF series puts those processes on TSX tickers with daily liquidity, alongside the firm’s older alternative mutual-fund channels.
Outperformance
Outperforms when pair trades earn and macro stress punishes plain long equity, with enough dispersion between sectors and names that balance-sheet work pays in calm credit.
Underperforms in correlation spikes where shorts and longs re-rate together, or when short squeezes punish crowded shorts. Favorable tape is dispersion-rich global equities, not single-factor melt-ups.
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Official ETF page
Read the official ETF page for current NAV, holdings, and documents: Picton Mahoney (Fortified alternatives, PFLS).