14th Jan 2020 - 9:19am
Picton Mahoney completes acquisition of Vertex One Funds
14/01/2020 - 9:19am
- Picton Mahoney Asset Management (Picton Mahoney), has completed its previously announced acquisition of the investment fund management contracts of four hedge funds and alternative mutual funds from Vertex One Asset Management Inc.
- The acquisition increases Picton Mahoney’s total assets under management by CAD400 million.
- "Risk Arbitrage strategies focus on reducing risk, lower volatility, and tax efficiency.The goal of this strategy is to offer consistent, positive returns during all market environments,” notes David Picton, President and CEO of Picton Mahoney Asset Management. “Given that many Canadian investor portfolios typically consist primarily of stocks and bonds, we believe that these risk-arb strategies offer a less correlated source of alpha which should help improve the quality of returns when added to more traditional portfolios.”
- As part of the transaction, the names of the funds have changed to the following:
- Alternative Mutual Funds
- Picton Mahoney Fortified Arbitrage Alternative Fund (formerly, Vertex Liquid Alternative Fund)
Picton Mahoney Fortified Arbitrage Plus Alternative Fund (formerly, Vertex Liquid Alternative Fund Plus)
- Hedge Funds
- Picton Mahoney Arbitrage Fund (formerly, Vertex Arbitrage Fund)
Picton Mahoney Arbitrage Plus Fund (formerly, Vertex Arbitrage Fund Plus)
The acquired Funds will continue to be managed by Craig Chilton and Tom Savage, who have joined Picton Mahoney as part of the transaction.