PICTON Market Neutral Equity Alternative Fund — ETF
PFMN.TO
Toronto Stock Exchange- -
CAD
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Capital Structure
FRC
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in mil. unless spec.Working Capital
FRC
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in mil. unless spec.Growth Rates
FRC
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in mil. unless spec.Quarterly Revenue
FRC
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in mil. unless spec.Quarterly Earnings Per Share
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in mil. unless spec.Quarterly Dividends Per Share
FRC
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in mil. unless spec.- Sector
- Financial Services
- Industry
- Asset Management
- Address
- 130 Adelaide Street West, Suite 2200 Toronto ON Canada M5H 3P5
- IPO Date
- Jul 16, 2019
- Website
- pictoninvestments.com
- Similar Companies
- Business
- PICTON Market Neutral Equity Alternative Fund ETF (PFMN.TO) is an exchange-traded fund managed by Picton Mahoney Asset Management that employs a market neutral equity strategy to deliver consistent long-term capital appreciation with low correlation to broader equity markets and an average equity market beta targeting zero. The fund invests in long and short equity positions, typically maintaining approximately 100% long equity exposure and 100% short equity and derivatives exposure including options, futures, forward contracts, swaps, and securities of other investment funds; it focuses on growth and value stocks across diversified market capitalizations and sectors such as financials, energy, and technology, with top long holdings including Bank of Montreal, Royal Bank of Canada, and Canadian Pacific Kansas City. Launched on July 12, 2019, and listed on the Toronto Stock Exchange on July 16, 2019, the ETF is headquartered at 33 Yonge Street, Suite 320, Toronto, Ontario, Canada, where its manager Picton Mahoney Asset Management--an employee-owned firm founded in 2004 overseeing over $16 billion in assets--is based. Primarily targeting institutional, retail, and high-net-worth investors seeking diversification and reduced volatility as a complement to long-only equity portfolios, the fund operates with a 0.95% management fee, a 20% performance fee above a 2% hurdle rate, and a high-water mark. In recent developments, Picton Mahoney Asset Management declared a December 2025 year-end cash distribution of $0.1281 per unit for PFMN.TO, reflecting ongoing commitment to shareholder returns amid stable fund performance; the firm also launched USD-denominated units for its PICTON Multi-Strategy Alpha Alternative Fund in November 2025 and ETF units for the PICTON Income Fund in September 2025, signaling broader expansion in alternative ETF offerings. Additionally, Picton Mahoney acquired 1,000,000 shares of Chenghe Acquisition III Co. in November 2025, underscoring active portfolio management and strategic investments in new opportunities.