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TORONTO, July 19,
2024 /CNW/ - Picton Mahoney Asset Management ("Picton
Mahoney"), the manager of the Picton Mahoney Tactical Income Fund
(the "Fund") (TSX: PMB.UN), announced today that the Fund will
terminate effective on or about August 26,
2024 (the "Termination Date"). The manager has determined
that it is no longer economically feasible to continue the Fund and
that it would be in the best interests of unitholders to terminate
the Fund on the Termination Date. In accordance with the terms of
the Trust Agreement of the Fund dated September 26, 2012, unitholder approval is
not required for the termination of the Fund.
Effective today, any new conversion or monthly redemption
requests will no longer be accepted. Conversion and monthly
redemption requests submitted before the close of business on
July 18, 2024, will be processed in
due course. The last day on which the Fund's units will trade on
the Toronto Stock Exchange is August 6,
2024. Payment of the net proceeds from the liquidation of
the remaining assets of the Fund will be made on or about
August 29, 2024 to the beneficial
holders of the Fund's units through CDS Clearing and Depository
Services Inc.
About Picton Mahoney
Picton Mahoney Asset Management specializes in differentiated
investment solutions and rules-based volatility management.
Picton Mahoney helps its clients
fortify their portfolios based on experience honed over the years
through different market cycles and investing environments.
Founded in 2004 and 100% employee owned, Picton Mahoney is a portfolio management
boutique entrusted with over CAD $10.7
billion (as at June 30, 2024)
in assets under management. Pioneers of Authentic Hedge® investment
principles and practices in Canada, the firm offers a full suite of
investment solutions, including mutual and alternative funds, to
institutional and retail investors across the country.
Commissions, trailing commissions, management fees, performance
fees and expenses all may be associated with mutual fund
investments. Please read the prospectus before investing. Mutual
funds are not guaranteed, their values change frequently, and past
performance may not be repeated. Alternative mutual funds can only
be purchased through a registered dealer and are available only in
those jurisdictions where they may be lawfully offered for
sale.
Website: www.pictonmahoney.com
SOURCE Picton Mahoney Asset Management