Picton Mahoney Closes Hedge Fund To New Investors

Sep 7 2007 | 10:04am ET

Toronto-based Picton Mahoney Asset Management is closing its Picton Mahoney Market Neutral Equity Fund to new investments. The firm is closing the fund on or before Sept. 28 because “of the strong level of capital inflows into the fund,” and in keeping with its practice of “providing authentic, nimble hedge fund solutions with limited capacity.”
 
The fund launched at the end of 2005 and, since inception, has generated positive monthly performance 95% of the time with a beta of 0.17 as of the end of August, according to the firm. Through August, the fund is up 9.47% in 2007.

“In late 2005, we introduced our first hedge fund solutions to help Canadian investors strengthen their investment portfolios,” said David Picton, president and portfolio manager of Picton Mahoney. “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 C$150 million (US$142.4 million) in sales is evidence of our commitment to our founding principles of authenticity and limited capacity.”

Picton Mahoney currently manages over C$4.5 billion (US$4.3 billion) in assets through its hedge funds, institutional long-only mandates and retail mutual fund sub-advisory services.


In Depth

Royalties: The Alternative Assets of the Music Industry

Jul 8 2016 | 7:01pm ET

Recent market volatility has investors seeking greater insight into alternative...

Lifestyle

Vortic: Making Great American Watches Again

Jul 25 2016 | 6:29pm ET

If you are compelled by stories of entrepreneurial vision & drive, or simply...

Guest Contributor

MPI: Like Stellar Returns? Better Understand the Risks First

Jul 22 2016 | 8:44pm ET

When the press reports extraordinarily strong relative or risk-adjusted returns...