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
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:
$0.10 per Quarter

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 2020-Mar-31

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 2020-Mar-31

LongShort
Number of Securities4339
Average Market Cap ($mm)$9,950$6,296
Beta 1.01.0
EBITDA/EV14.3%11.9%
FCF/EV6.3%-0.2%
Trailing Return30.5%-23.7%
Pct of 52 Week High67.8%51.8%
Return on Capital15.7%-1.2%
Gross Profits/Assets5.8%1.6%
50 DMA to 200 DMA105%84.2%
EPS Revision-3.3%-3.6%
Change In Shares1.5%0.5%
Earnings Abnormal Return0.1%-4.7%

Sector Weightings as of 2020-Mar-31

LongShort
Communication Services1.6%-1.3%
Consumer Discretionary4.9%-1.9%
Consumer Staples1.3%-4.2%
Energy4.1%-5.7%
Financials5.4%-6.8%
Health Care0.7%-2.3%
Industrials9.9%-3.2%
Information Technology5.1%-2.5%
Materials8.8%-11.5%
Real Estate4.9%-4.0%
Utilities0.0%0.0%
Overlay Equity Exposure46.7%-43.3%
S&P/TSX60 Index Exposure95.1%0.0%
TOTAL PORTFOLIO EXPOSURE141.8%-43.3%

Fund Holdings as of 2020-Mar-31

Long Security NameWeight
S&P / TSX 60 Index Futures94.4%
Kinaxis Inc1.5%
Real Matters Inc1.5%
Constellation Software Inc1.5%
Teranga Gold Corp1.5%
Cogeco Inc1.4%
Enghouse Systems Ltd1.4%
Stantec Inc1.4%
Toromont Industries Ltd1.4%
Canadian Pacific Railway Ltd1.4%
Royal Bank of Canada1.4%
Equinox Gold Corp1.4%
ATS Automation Tooling Systems1.4%
Alimentation Couche-Tard Inc1.3%
GDI Integrated Facility Services1.3%
Alacer Gold Corp1.2%
Intact Financial Corp1.2%
DREAM Unlimited Corp1.2%
B2Gold Corp1.2%
K92 Mining Inc1.2%
Richelieu Hardware Ltd1.2%
Gran Colombia Gold Corp1.2%
Torex Gold Resources Inc1.2%
FirstService Corp1.1%
Sun Life Financial Inc1.1%
Parex Resources Inc1.1%
Canadian Tire Corp Ltd1.0%
CI Financial Corp1.0%
Boyd Group Services Inc1.0%
Colliers International Group Inc1.0%
Leons Furniture Ltd1.0%
Gibson Energy Inc1.0%
Hardwoods Distribution Inc0.9%
Martinrea International Inc0.8%
Aritzia Inc0.8%
Canadian Natural Resources Ltd0.8%
IShares S&P TSX 60 Index ETF0.7%
Computer Modelling Group Ltd0.7%
CRH Medical Corp0.7%
Celestica Inc0.7%
BRP Inc0.7%
AGF Management Ltd0.7%
Keyera Corp0.6%
AutoCanada Inc0.6%
Yellow Pages Ltd0.2%

 

Short Security NameWeight
Golden Star Resources Ltd-2.0%
Maple Leaf Foods Inc-1.8%
Cameco Corp-1.8%
BlackBerry Ltd-1.6%
IAMGOLD Corp-1.5%
Laurentian Bank of Canada-1.5%
Osisko Gold Royalties Ltd-1.5%
Canaccord Genuity Group Inc-1.5%
Ivanhoe Mines Ltd-1.4%
Seabridge Gold Inc-1.4%
Toronto-Dominion Bank-1.4%
Saputo Inc-1.4%
Canfor Pulp Products Inc-1.4%
Fairfax Financial Holdings Ltd-1.3%
Aimia Inc-1.3%
Morguard NA Residential REIT-1.2%
Sienna Senior Living Inc-1.2%
Tourmaline Oil Corp-1.2%
Chartwell Retirement Residence-1.1%
Teck Resources Ltd-1.1%
SmartCentres REIT-1.1%
Sprott Inc-1.1%
Canfor Corp-1.0%
SunOpta Inc-1.0%
Sierra Wireless Inc-0.9%
Ag Growth International Inc-0.9%
NFI Group Inc-0.9%
Invesque Inc-0.9%
PrairieSky Royalty Ltd-0.8%
Brookfield Property Partners Ltd-0.8%
Magellan Aerospace Corp-0.8%
Inter Pipeline Ltd-0.7%
DIRTT Environmental Solutions-0.7%
Husky Energy Inc-0.7%
Restaurant Brands International-0.7%
MTY Food Group Inc-0.7%
Dorel Industries Inc-0.6%
Ovintiv Inc-0.3%
ShawCor Ltd-0.2%
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