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: $20.6658
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:
  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-Jun-28

1 Month3 MonthsYTD1 Year3 YearsSince Inception
ATSXn/an/an/an/an/an/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 Securities3937
Average Market Cap ($mm)$8,907$2,058
Beta 1.0 1.0
EBITDA / EV12.7%4.0%
FCF / EV3.6%-6.5%
12-Month Return32.3%-32.0%
% of 52 Week High88.8%60.5%
Return on Capital11.2%-5.6%
Gross Profits / Assets5.9%2.7%
50 DMA / 200 DMA114%89.8%
EPS Revisions-4.6%-4.7%
Change In Shares2.7%14.8%
Earnings Abnormal Return1.3%0.8%

Overlay Sector Weightings as of 2019-Jun-28

Long Short
Communication Services4.9%0.0%
Consumer Discretionary2.6%-3.8%
Consumer Staples1.3%-2.8%
Energy7.3%-10.4%
Financials1.3%-4.1%
Health Care3.7%-3.1%
Industrials9.7%-5.9%
Information Technology7.2%-2.4%
Materials11.4%-15.6%
Real Estate0.0%0.0%
Utilities1.3%-1.5%
Total Equities50.6%-49.6%

Fund Holdings as of 2019-Jun-28

Long Security NameWeight
S&P / TSX 60 Index Futures94.2%
IShares S&P TSX 60 Index ETF4.8%
Alacer Gold Corp1.8%
Kirkland Lake Gold Ltd1.8%
Gran Colombia Gold Corp1.7%
ERO Copper Corp1.6%
Champion Iron Ltd1.6%
Shopify Inc1.5%
Richards Packaging Income Fund1.4%
North American Palladium Ltd1.4%
Viemed Healthcare Inc1.4%
Boyd Group Income Fund1.4%
Gibson Energy Inc1.4%
Evertz Technologies Ltd1.4%
Badger Daylighting Ltd1.3%
Cogeco Communications Inc1.3%
BCE Inc1.3%
Alimentation Couche-Tard Inc1.3%
Parkland Fuel Corp1.3%
A&W Revenue Royalties Income Fund1.3%
Open Text Corp1.3%
ECN Capital Corp1.3%
Carmanah Technologies Corp1.3%
Canadian Pacific Railway Ltd1.3%
Parex Resources Inc1.3%
Gildan Activewear Inc1.3%
Atlantic Power Corp1.3%
Cogeco Inc1.3%
Waste Connections Inc1.3%
Bausch Health Cos Inc1.3%
Imperial Oil Ltd1.2%
TFI International Inc1.2%
North American Construction Group1.2%
Descartes Systems Group Inc1.1%
Absolute Software Corp1.1%
Medical Facilities Corp1.0%
Corus Entertainment Inc1.0%
DIRTT Environmental Solutions1.0%
Bird Construction Inc1.0%
TransGlobe Energy Corp0.9%
Tucows Inc0.9%

 

Short Security NameWeight
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%