Highlights There was a high level of activity in the Fund during December with several merger deals closing by year-end. This allowed the Fund to harvest returns and redeploy the capital in new opportunities. Nineteen […]
Highlights Top contributors to the Fund were Computer Modeling Group Ltd. (TSX: CMG), a technology company in the oil and gas industry and Aecon Group Inc. (TSX: ARE), which provides construction and infrastructure development services […]
Highlights The past quarter was characterized by a strong bond market reaction to the disinflationary trend. Longer dated, high grade bonds were the strongest contributors to performance. Favourable performers included Warner Brothers Discovery Inc. (2062), […]
Highlights One of the drivers of market performance in December was strong inflows for risk assets combined with limited new issue supply in credit markets. Despite our generally defensive positioning there are some areas of […]
Highlights: December’s outperformance was driven by some deeply discounted and distressed lines including the preferred shares of Fannie Mae and Freddie Mac which rallied more than 30%. We added to our position in McDermott International […]
Highlights November was a strong month driven by the closing of several deals including many of the largest positions in the Fund. There were 19 merger deals held within the Fund that closed during the […]
Highlights In November we significantly added to our US Treasury Bill holdings as well as high-quality term loans. Our purchases included loans backed by Hilton Worldwide Holdings Inc. (NYSE: HLT), TransDigm Group Inc. (NYSE: TDG) […]
Highlights: November saw a major turn in bond market direction leading to positive returns throughout the fixed income markets. Investment grade securities staged a huge turnaround and there were some very strong returns amongst higher […]
Highlights October was a tough month for markets as recessionary fears and higher bond yields pressured markets. In October, the Fund initiated positions in 23 new or previously announced mergers, while 20 merger deals held […]
Highlights Both widening credit spreads and higher government yields negatively impacted returns for the month. The Fund increased market exposure with the focus on high-quality, high yield bonds trading at attractive discounts to par. The […]
Highlights: October was a volatile month characterized by sharply lower risk asset prices combined with higher risk-free rates across the curve. We are generally constructive on the bond market heading into the end of the […]
“It’s not whether you’re right or wrong that’s important, but how much money you make when you’re right and how much you lose when you’re wrong.” – George Soros Highlights The Fund recorded positive performance […]
Dear Unitholders, Highlights The Fund initiated positions in 14 new or previously announced mergers while five merger deals held within the Fund closed during the month. At the end of September, the Fund had 41 […]
Highlights During the quarter, we added Aecon Group Inc. (TSX:ARE) and Thinkific Labs Inc. (TSX:THNC). Canadian equities stood at 52.7% at the end of the quarter, up from 50.3% at the end of December 2022. […]
Highlights We continue to focus on the fundamentals, rotating into high quality businesses. We initiated new positions in two companies during the quarter that we have been following for a long time but have finally […]
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Alternative Arbitrage Fund – December 2023
Highlights There was a high level of activity in the Fund during December with several merger deals closing by year-end. This allowed the Fund to harvest returns and redeploy the capital in new opportunities. Nineteen […]
Small/Mid Cap Dividend – Q4 2023
Highlights Top contributors to the Fund were Computer Modeling Group Ltd. (TSX: CMG), a technology company in the oil and gas industry and Aecon Group Inc. (TSX: ARE), which provides construction and infrastructure development services […]
Bond Universe – Q4 2023
Highlights The past quarter was characterized by a strong bond market reaction to the disinflationary trend. Longer dated, high grade bonds were the strongest contributors to performance. Favourable performers included Warner Brothers Discovery Inc. (2062), […]
Alternative Absolute Return – December 2023
Highlights One of the drivers of market performance in December was strong inflows for risk assets combined with limited new issue supply in credit markets. Despite our generally defensive positioning there are some areas of […]
Fixed Income – December 2023
Highlights: December’s outperformance was driven by some deeply discounted and distressed lines including the preferred shares of Fannie Mae and Freddie Mac which rallied more than 30%. We added to our position in McDermott International […]
Alternative Arbitrage Fund – November 2023
Highlights November was a strong month driven by the closing of several deals including many of the largest positions in the Fund. There were 19 merger deals held within the Fund that closed during the […]
Alternative Absolute Return – November 2023
Highlights In November we significantly added to our US Treasury Bill holdings as well as high-quality term loans. Our purchases included loans backed by Hilton Worldwide Holdings Inc. (NYSE: HLT), TransDigm Group Inc. (NYSE: TDG) […]
Fixed Income – November 2023
Highlights: November saw a major turn in bond market direction leading to positive returns throughout the fixed income markets. Investment grade securities staged a huge turnaround and there were some very strong returns amongst higher […]
Alternative Arbitrage Fund – October 2023
Highlights October was a tough month for markets as recessionary fears and higher bond yields pressured markets. In October, the Fund initiated positions in 23 new or previously announced mergers, while 20 merger deals held […]
Alternative Absolute Return – October 2023
Highlights Both widening credit spreads and higher government yields negatively impacted returns for the month. The Fund increased market exposure with the focus on high-quality, high yield bonds trading at attractive discounts to par. The […]
Fixed Income – October 2023
Highlights: October was a volatile month characterized by sharply lower risk asset prices combined with higher risk-free rates across the curve. We are generally constructive on the bond market heading into the end of the […]
Strategic Growth and Income Fund – Q3 2023
“It’s not whether you’re right or wrong that’s important, but how much money you make when you’re right and how much you lose when you’re wrong.” – George Soros Highlights The Fund recorded positive performance […]
Alternative Arbitrage Fund – September 2023
Dear Unitholders, Highlights The Fund initiated positions in 14 new or previously announced mergers while five merger deals held within the Fund closed during the month. At the end of September, the Fund had 41 […]
Value Fund – Q3 2023
Highlights During the quarter, we added Aecon Group Inc. (TSX:ARE) and Thinkific Labs Inc. (TSX:THNC). Canadian equities stood at 52.7% at the end of the quarter, up from 50.3% at the end of December 2022. […]
Small Cap Equity – Q3 2023
Highlights We continue to focus on the fundamentals, rotating into high quality businesses. We initiated new positions in two companies during the quarter that we have been following for a long time but have finally […]