Accelerate Enhanced Canadian Benchmark Alternative Fund

About the Fund

The Accelerate Enhanced Canadian Benchmark Alternative Fund (TSX: ATSX) combines exposure to the S&P/TSX 60 plus a long-short Canadian equity overlay designed to add incremental performance above the broad Canadian equity index.

Investment Objectives

  • Outperform the broad Canadian equity index
  • Provide volatility in-line with the broad Canadian equity index
TRADING DATA
NAV: $20.1125
Market Cap: N/A
Date & Time: 05-21-2019, 08:12pm
QUICK FACTS

Type:
Long-short equity

Date Started:
May 10, 2019

Management Fee:
0.00%

Performance Fee:
50% of outperformance over high water mark

Investment Manager:
Accelerate Financial Technologies Inc.

Distribution Frequency:
Quarterly

Exchange:
TSX

Currency:
CAD

Risk Rating:
Medium

Reference Portfolio Performance

Investment Process

In addition to providing exposure to the broad Canadian equity index, either through derivatives, ETFs or the underlying equities, ATSX holds a diversified, long-short equity overlay portfolio of Canadian equities.
To select the long-short overlay portfolio, ATSX utilizes a systematic, proprietary multi-factor model to sort and rank all liquid Canadian stocks based on 5 principle factors:
  1. Value
  2. Quality
  3. Price Momentum
  4. Operating Momentum
  5. Trend

The Fund goes long a portfolio of the highest expected return stocks selected from the top decile ranking from the multi-factor model while going short a portfolio of the lowest expected return stocks selected from the bottom decile ranking. The portfolio is balanced on a monthly basis. The long portfolio is up to 50% of NAV and the short portfolio is up to -50% of NAV.

Performance as of 2019-May-09

1 Month3 MonthsYTD1 Year3 YearsSince Inception
ATSXn/an/an/an/an/an/a

Overlay Characteristics as of 2019-May-09

Long Short
Number of Securities4037
Average Market Cap ($mm)$10,835$1,537
Beta0.90.9
EBITDA/EV8.8%5.9%
FCF/EV2.3%2.5%
Trailing Return35.7%-40.7%
Pct of 52 Week High94.1%51.8%
Return on Capital10.6%2.5%
Gross Profits/Assets5.7%3.5%
50 DMA to 200 DMA115.8%78.7%
EPS Revision-0.4%-2.3%
Change In Shares2.5%7.4%
Earnings Abnormal Return1.0%-1.4%

Overlay Sector Weightings as of 2019-May-09

Long Short
Communication Services5.2%0.0%
Consumer Discretionary2.6%-8.3%
Consumer Staples2.6%-1.4%
Energy7.4%-13.6%
Financials2.7%-0.5%
Health Care2.7%0.0%
Industrials10.0%-9.7%
Information Technology7.4%-2.8%
Materials7.3%-11.5%
Real Estate2.6%-1.5%
Utilities0.0%0.0%
Total50.4%-49.2%

Fund Holdings as of 2019-May-09

Long Security NameWeight
S&P TSX 60 Index Futures98.9%
Element Fleet Management Corp1.5%
Absolute Software Corp1.3%
Alacer Gold Corp1.3%
Alimentation Couche-Tard Inc1.3%
Atlantic Gold Corp1.3%
Boyd Group Income Fund1.3%
Canadian Pacific Railway Ltd1.3%
Carmanah Technologies Corp1.3%
CGI Inc1.3%
Cogeco Communications Inc1.3%
Cogeco Inc1.3%
Corus Entertainment Inc1.3%
Descartes Systems Group Inc1.3%
Detour Gold Corp1.3%
Exchange Income Corp1.3%
FirstService Corp1.3%
Gildan Activewear Inc1.3%
HLS Therapeutics Inc1.3%
Kirkland Lake Gold Ltd1.3%
Questor Technology Inc1.3%
Restaurant Brands International1.3%
Saputo Inc1.3%
Shopify Inc1.3%
Summit Industrial Income REIT1.3%
TC Energy Corp1.3%
TeraGo Inc1.3%
Viemed Healthcare Inc1.3%
Waste Connections Inc1.3%
Badger Daylighting Ltd1.2%
Brookfield Asset Management1.2%
Constellation Software Inc1.2%
Enerflex Ltd1.2%
North American Construction1.2%
Parex Resources Inc1.2%
PHX Energy Services Corp1.2%
DIRTT Environmental Solutions1.1%
North American Palladium Ltd1.1%
Toromont Industries Ltd1.1%
5N Plus Inc1.0%
Tucows Inc1.0%

 

Short Security NameWeight
Maxar Technologies Inc-1.9%
Cascades Inc-1.5%
Stars Group Inc/The-1.5%
Transat AT Inc-1.5%
Altus Group Ltd-1.4%
Baytex Energy Corp-1.4%
Bonterra Energy Corp-1.4%
Celestica Inc-1.4%
Crescent Point Energy Corp-1.4%
Kinder Morgan Canada Ltd-1.4%
Lassonde Industries Inc-1.4%
Sleep Country Canada Holdings-1.4%
Valeura Energy Inc-1.4%
Wajax Corp-1.4%
AKITA Drilling Ltd-1.3%
Bombardier Inc-1.3%
Canfor Pulp Products Inc-1.3%
Chemtrade Logistics Income Fund-1.3%
Dorel Industries Inc-1.3%
MEG Energy Corp-1.3%
NFI Group Inc-1.3%
Norbord Inc-1.3%
Pan American Silver Corp-1.3%
Peyto Exploration & Development-1.3%
Richelieu Hardware Ltd-1.3%
Sierra Wireless Inc-1.3%
STEP Energy Services Ltd-1.3%
Uni-Select Inc-1.3%
Westport Fuel Systems Inc-1.3%
Whitecap Resources Inc-1.3%
Linamar Corp-1.2%
West Fraser Timber Co Ltd-1.2%
Canfor Corp-1.1%
IAMGOLD Corp-1.1%
Interfor Corp-1.1%
SNC-Lavalin Group Inc-1.1%
Canadian Western Bank-0.5%