This fund aims to generate robust total returns while employing hedging strategies to mitigate potential capital losses. Its core investment lies in a broad spectrum of global fixed income securities. While a significant portion of its assets typically resides in North American corporate debt, the fund maintains the flexibility to allocate up to 100% of its portfolio to international holdings. The investment mandate is extensive, allowing for both long and short positions across diverse asset classes. These include, but are not limited to, high-yield, government, emerging market, and convertible bonds, along with loans, convertible debentures, preferred shares, derivatives, distressed debt, collateralized loan obligations (CLOs), and mortgage-backed securities (MBS). The fund can also incorporate cash equivalents, equities, exchange-traded funds (ETFs), and other mutual funds into its portfolio. The manager's selection process prioritizes securities offering the most attractive risk-adjusted returns. Given its actively managed nature, investors should anticipate potentially higher trading costs. Additionally, holding this fund in a non-registered account may result in taxable distributions.

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PICTON Long Short Income Alternative Fund

The fund will aim for total returns while mitigating capital loss through hedging strategies. The fund invests mainly in global fixed income securities. PFIA primarily holds North American corporate debt securities but it can invest up to 100% in international securities. It can also hold long/short positions in high yield bonds, government, emerging market, and convertible bonds, loans, convertible debentures, preferred shares, derivatives, distressed debts, collateral loan obligations (CLOs), mortgage-backed securities (MBS), cash equivalents, equities, ETFs and other mutual funds. In selecting the portfolio, the manager focuses on securities that will maximize risk-adjusted returns. As an actively managed fund, PFIA can have increased trading costs. The possibility of taxable distributions is also imminent if you hold the fund in a non-registered account.

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