/Not for Distribution to U.S. Newswire
Services or for Dissemination in the
United States of America./
TORONTO, Aug. 12,
2024 /CNW/ - Picton Mahoney Asset Management
("Picton Mahoney"), the manager of the Picton Mahoney Tactical
Income Fund (the "Fund"), announced on July
19, 2024 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. No action is required on the part of
unitholders.
Effective July 19, 2024,
Picton Mahoney ceased accepting new
conversion or monthly redemption requests. Requests submitted
before the close of business on July 18,
2024, are being processed as scheduled. In connection with
the upcoming termination, the Fund's units (TSX: PMB.UN) have been
delisted and are no longer trading on the Toronto Stock Exchange.
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