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:
$20.6658
Date & Time:
07-17-2019, 04:19am
QUICK FACTS
Type:
Long-short equity
Date Started:
May 10, 2019
Management Fee:
0.00%
Performance Fee:
50% of outperformance over high water mark
Investment Manager:
Accelerate Financial Technologies Inc.
Distribution Frequency:
Quarterly
Exchange:
TSX
Currency:
CAD
Risk Rating:
Medium
Reference Portfolio Performance
Investment Process
In addition to providing exposure to the broad Canadian equity index, either through derivatives, ETFs or the underlying equities, ATSX holds a diversified, long-short equity overlay portfolio of Canadian equities.
To select the long-short overlay portfolio, ATSX utilizes a systematic, proprietary multi-factor model to sort and rank all liquid Canadian stocks based on 5 principle factors:
- Value
- Quality
- Price Momentum
- Operating Momentum
- Trend
The Fund goes long a portfolio of the highest expected return stocks selected from the top decile ranking from the multi-factor model while going short a portfolio of the lowest expected return stocks selected from the bottom decile ranking. The portfolio is balanced on a monthly basis. The long portfolio is up to 50% of NAV and the short portfolio is up to -50% of NAV.
Performance as of 2019-Jun-28
| 1 Month | 3 Months | YTD | 1 Year | 3 Years | Since Inception | ||
|---|---|---|---|---|---|---|---|
| ATSX | n/a | n/a | n/a | n/a | n/a | n/a |
Under current regulations, fund performance can only be published one year after its inception.
Overlay Fund Characteristics as of 2019-Jun-28
| Long | Short | |
|---|---|---|
| Number of Securities | 39 | 37 |
| Average Market Cap ($mm) | $8,907 | $2,058 |
| Beta | 1.0 | 1.0 |
| EBITDA / EV | 12.7% | 4.0% |
| FCF / EV | 3.6% | -6.5% |
| 12-Month Return | 32.3% | -32.0% |
| % of 52 Week High | 88.8% | 60.5% |
| Return on Capital | 11.2% | -5.6% |
| Gross Profits / Assets | 5.9% | 2.7% |
| 50 DMA / 200 DMA | 114% | 89.8% |
| EPS Revisions | -4.6% | -4.7% |
| Change In Shares | 2.7% | 14.8% |
| Earnings Abnormal Return | 1.3% | 0.8% |
Overlay Sector Weightings as of 2019-Jun-28
| Long | Short | |
|---|---|---|
| Communication Services | 4.9% | 0.0% |
| Consumer Discretionary | 2.6% | -3.8% |
| Consumer Staples | 1.3% | -2.8% |
| Energy | 7.3% | -10.4% |
| Financials | 1.3% | -4.1% |
| Health Care | 3.7% | -3.1% |
| Industrials | 9.7% | -5.9% |
| Information Technology | 7.2% | -2.4% |
| Materials | 11.4% | -15.6% |
| Real Estate | 0.0% | 0.0% |
| Utilities | 1.3% | -1.5% |
| Total Equities | 50.6% | -49.6% |
Fund Holdings as of 2019-Jun-28
| Long Security Name | Weight | |
|---|---|---|
| S&P / TSX 60 Index Futures | 94.2% | |
| IShares S&P TSX 60 Index ETF | 4.8% | |
| Alacer Gold Corp | 1.8% | |
| Kirkland Lake Gold Ltd | 1.8% | |
| Gran Colombia Gold Corp | 1.7% | |
| ERO Copper Corp | 1.6% | |
| Champion Iron Ltd | 1.6% | |
| Shopify Inc | 1.5% | |
| Richards Packaging Income Fund | 1.4% | |
| North American Palladium Ltd | 1.4% | |
| Viemed Healthcare Inc | 1.4% | |
| Boyd Group Income Fund | 1.4% | |
| Gibson Energy Inc | 1.4% | |
| Evertz Technologies Ltd | 1.4% | |
| Badger Daylighting Ltd | 1.3% | |
| Cogeco Communications Inc | 1.3% | |
| BCE Inc | 1.3% | |
| Alimentation Couche-Tard Inc | 1.3% | |
| Parkland Fuel Corp | 1.3% | |
| A&W Revenue Royalties Income Fund | 1.3% | |
| Open Text Corp | 1.3% | |
| ECN Capital Corp | 1.3% | |
| Carmanah Technologies Corp | 1.3% | |
| Canadian Pacific Railway Ltd | 1.3% | |
| Parex Resources Inc | 1.3% | |
| Gildan Activewear Inc | 1.3% | |
| Atlantic Power Corp | 1.3% | |
| Cogeco Inc | 1.3% | |
| Waste Connections Inc | 1.3% | |
| Bausch Health Cos Inc | 1.3% | |
| Imperial Oil Ltd | 1.2% | |
| TFI International Inc | 1.2% | |
| North American Construction Group | 1.2% | |
| Descartes Systems Group Inc | 1.1% | |
| Absolute Software Corp | 1.1% | |
| Medical Facilities Corp | 1.0% | |
| Corus Entertainment Inc | 1.0% | |
| DIRTT Environmental Solutions | 1.0% | |
| Bird Construction Inc | 1.0% | |
| TransGlobe Energy Corp | 0.9% | |
| Tucows Inc | 0.9% |
| Short Security Name | Weight | |
|---|---|---|
| First Quantum Minerals Ltd | -2.2% | |
| Westport Fuel Systems Inc | -2.0% | |
| Continental Gold Inc | -2.0% | |
| First Majestic Silver Corp | -1.8% | |
| Alcanna Inc | -1.5% | |
| Maxar Technologies Inc | -1.5% | |
| SilverCrest Metals Inc | -1.5% | |
| Boralex Inc | -1.5% | |
| Pizza Pizza Royalty Corp | -1.5% | |
| Pan American Silver Corp | -1.5% | |
| Chemtrade Logistics Income Fund | -1.4% | |
| MCAN Mortgage Corp | -1.4% | |
| Fairfax Financial Holdings Ltd | -1.4% | |
| NexGen Energy Ltd | -1.4% | |
| Uranium Participation Corp | -1.4% | |
| Golden Star Resources Ltd | -1.4% | |
| Stars Group Inc | -1.3% | |
| Interfor Corp | -1.3% | |
| SunOpta Inc | -1.3% | |
| SNC-Lavalin Group Inc | -1.3% | |
| Norbord Inc | -1.3% | |
| Celestica Inc | -1.3% | |
| Valeura Energy Inc | -1.2% | |
| TORC Oil & Gas Ltd | -1.2% | |
| Sierra Wireless Inc | -1.2% | |
| AKITA Drilling Ltd | -1.2% | |
| Canfor Corp | -1.2% | |
| CannTrust Holdings Inc | -1.1% | |
| MEG Energy Corp | -1.1% | |
| Crescent Point Energy Corp | -1.1% | |
| ARC Resources Ltd | -1.1% | |
| Stuart Olson Inc | -1.0% | |
| Green Organic Dutchman Holding | -1.0% | |
| Kinder Morgan Canada Ltd | -1.0% | |
| Reitmans Canada Ltd | -1.0% | |
| Baytex Energy Corp | -1.0% | |
| IMV Inc | -0.9% | |