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
ATSX TRADING DATA
NAV:
$20.8640
Date:
2020-01-28
QUICK FACTS
Type:
Long-short equity
Date Started:
May 10, 2019
Management Fee:
0.00%
Performance Fee:
1/2 of outperformance above S&P/ TSX 60 Total Return
Investment Manager:
Accelerate Financial Technologies Inc.
Distribution Frequency:
Quarterly
Exchange:
TSX
Currency:
CAD
Risk Rating:
Medium
Reference Portfolio Performance
Investment Process
In addition to providing exposure to the broad Canadian equity index, either through derivatives, ETFs or the underlying equities, ATSX holds a diversified, long-short equity overlay portfolio of Canadian equities.
To select the long-short overlay portfolio, ATSX utilizes a systematic, proprietary multi-factor model to sort and rank all liquid Canadian stocks based on 5 principle factors:
- Value
- Quality
- Price Momentum
- Operating Momentum
- Trend
The Fund goes long a portfolio of the highest expected return stocks selected from the top decile ranking from the multi-factor model while going short a portfolio of the lowest expected return stocks selected from the bottom decile ranking. The portfolio is balanced on a monthly basis. The long portfolio is up to 50% of NAV and the short portfolio is up to -50% of NAV.
Performance as of 2019-Dec-31
| 1 Month | 3 Months | YTD | 1 Year | 3 Years | Since Inception | ||
|---|---|---|---|---|---|---|---|
| ATSX | n/a | n/a | n/a | n/a | n/a | n/a |
Under current regulations, fund performance can only be published one year after its inception.
Overlay Fund Characteristics as of 2019-Dec-31
| Long | Short | |
|---|---|---|
| Number of Securities | 40 | 39 |
| Average Market Cap ($mm) | $7,713 | $3,344 |
| Beta | 0.9 | 0.9 |
| EBITDA/EV | 11.2% | 9.8% |
| FCF/EV | 3.9% | -2.3% |
| Trailing Return | 59.0% | -13.6% |
| Pct of 52 Week High | 94.1% | 71.1% |
| Return on Capital | 16.3% | -2.2% |
| Gross Profits/Assets | 6.3% | 2.9% |
| 50 DMA to 200 DMA | 111% | 90.4% |
| EPS Revision | 2.6% | -1.4% |
| Change In Shares | -0.5% | 0.3% |
| Earnings Abnormal Return | 4.5% | -3.8% |
Overlay Sector Weightings as of 2019-Dec-31
| Long | Short | |
|---|---|---|
| Communication Services | 3.9% | 0.0% |
| Consumer Discretionary | 7.6% | -2.2% |
| Consumer Staples | 4.7% | -4.0% |
| Energy | 5.5% | -9.8% |
| Financials | 5.2% | -3.1% |
| Health Care | 0.0% | -3.4% |
| Industrials | 9.2% | -3.8% |
| Information Technology | 3.8% | -4.7% |
| Materials | 11.2% | -9.8% |
| Real Estate | 0.0% | -5.0% |
| Utilities | 1.3% | -1.3% |
| Total Equities | 52.3% | -47.1% |
Fund Holdings as of 2019-Dec-31
| Long Security Name | Weight | |
|---|---|---|
| S&P / TSX 60 Index Futures | 101.8% | |
| IShares S&P TSX 60 Index ETF | 1.5% | |
| Parex Resources Inc | 1.5% | |
| B2Gold Corp | 1.5% | |
| K92 Mining Inc | 1.4% | |
| Torex Gold Resources Inc | 1.4% | |
| Silvercorp Metals Inc | 1.4% | |
| Gibson Energy Inc | 1.4% | |
| Kirkland Lake Gold Ltd | 1.4% | |
| Richelieu Hardware Ltd | 1.4% | |
| Centerra Gold Inc | 1.4% | |
| Leons Furniture Ltd | 1.4% | |
| Stantec Inc | 1.4% | |
| Alacer Gold Corp | 1.4% | |
| Parkland Fuel Corp | 1.3% | |
| Superior Plus Corp | 1.3% | |
| Boyd Group Services Inc | 1.3% | |
| Air Canada | 1.3% | |
| National Bank of Canada | 1.3% | |
| K-Bro Linen Inc | 1.3% | |
| Quebecor Inc | 1.3% | |
| Cogeco Inc | 1.3% | |
| Genworth MI Canada Inc | 1.3% | |
| CI Financial Corp | 1.3% | |
| CGI Inc | 1.3% | |
| Cogeco Communications Inc | 1.3% | |
| BRP Inc | 1.3% | |
| Aritzia Inc | 1.3% | |
| Constellation Software Inc | 1.3% | |
| Major Drilling Group International Inc | 1.3% | |
| Ritchie Bros Auctioneers Inc | 1.3% | |
| Computer Modelling Group Ltd | 1.3% | |
| Home Capital Group Inc | 1.3% | |
| Magna International Inc | 1.3% | |
| Real Matters Inc | 1.2% | |
| Kinaxis Inc | 1.2% | |
| Alimentation Couche-Tard Inc | 1.2% | |
| GDI Integrated Facility Service | 1.2% | |
| Metro Inc | 1.2% | |
| Loblaw Companies Ltd | 1.2% | |
| Canadian Tire Corp Ltd | 1.2% | |
| Empire Company Ltd | 1.1% |
| Short Security Name | Weight | |
|---|---|---|
| BlackBerry Ltd | -1.5% | |
| Osisko Gold Royalties Ltd | -1.4% | |
| Husky Energy Inc | -1.4% | |
| Vermilion Energy Inc | -1.4% | |
| Kelt Exploration Ltd | -1.4% | |
| Lightspeed POS Inc | -1.4% | |
| OceanaGold Corp | -1.4% | |
| Mav Beauty Brands Inc | -1.4% | |
| PrairieSky Royalty Ltd | -1.4% | |
| Ag Growth International Inc | -1.3% | |
| Maple Leaf Foods Inc | -1.3% | |
| West Fraser Timber Co Ltd | -1.3% | |
| NFI Group Inc | -1.3% | |
| Fortis Inc | -1.3% | |
| Alcanna Inc | -1.3% | |
| Laurentian Bank of Canada | -1.3% | |
| ShawCor Ltd | -1.3% | |
| SmartCentres Real Estate Inves | -1.3% | |
| Premier Gold Mines Ltd | -1.3% | |
| Morguard Corp | -1.3% | |
| Morguard North American Reside | -1.3% | |
| Stelco Holdings Inc | -1.2% | |
| MTY Food Group Inc | -1.2% | |
| Brookfield Property Partners LP | -1.2% | |
| Canfor Pulp Products Inc | -1.2% | |
| Canaccord Genuity Group Inc | -1.2% | |
| Knight Therapeutics Inc | -1.2% | |
| SNC-Lavalin Group Inc | -1.2% | |
| Aurinia Pharmaceuticals Inc | -1.1% | |
| Chartwell Retirement Residence | -1.1% | |
| Bonterra Energy Corp | -1.0% | |
| NuVista Energy Ltd | -1.0% | |
| Total Energy Services Inc | -1.0% | |
| Dorel Industries Inc | -1.0% | |
| Absolute Software Corp | -1.0% | |
| Hudbay Minerals Inc | -1.0% | |
| Ivanhoe Mines Ltd | -0.9% | |
| Sierra Wireless Inc | -0.9% | |
| Sprott Inc | -0.6% | |
EXPLORE OTHER INVESTMENT SOLUTIONS
