Accelerate Canadian Long Short Equity Fund
About the Fund
The Accelerate Canadian Long Short Equity Fund (TSX: ATSX) is a quantitative 150-50 long-short equity hedge fund that seeks to outperform the S&P/TSX 60.
Investment Objectives
- Outperform the broad Canadian equity index
- Provide volatility in-line with the broad Canadian equity index
ATSX TRADING DATA
NAV:
Date:
MEDIA
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QUICK FACTS
Type:
Directional long short equity
Structure:
Alternative ETF
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:
$0.42 per quarter
Exchange:
TSX
Currency:
CAD
Risk Rating:
Medium
Track Record
Investment Process
ATSX utilizes a systematic, proprietary multi-factor model to sort and rank all liquid Canadian stocks based on five principal factors: Value, Price Momentum, Operating Momentum, Quality, and Trend.
The Fund goes long a portfolio of the highest expected return stocks selected from the top ranking from the multi-factor model while going short a portfolio of the lowest expected return stocks selected from the bottom ranking. The portfolio is rebalanced on a monthly basis. The long portfolio is up to 150% of NAV and the short portfolio is up to -50% of NAV
Performance as of 2024-Mar-31
| 1 Month | 3 Months | YTD | 1 Year | 3 Years | Since Inception | ||
|---|---|---|---|---|---|---|---|
| ATSX | 2.7% | 7.6% | 7.6% | 16.1% | 10.4% | 8.8% |
Fund Characteristics as of 2024-Mar-31
| Long | Short | |
|---|---|---|
| Number of Securities | 45 | 45 |
| Average Market Cap ($mm) | $18,168 | $6,495 |
| Beta | 1.0 | 1.1 |
| EBITDA/EV | 12.4% | 6.5% |
| FCF/EV | 5.6% | -0.9% |
| Trailing Return | 26.8% | -18.2% |
| Pct of 52 Week High | 93.3% | 70.2% |
| Return on Capital | 16.0% | 0.2% |
| Gross Profits/Assets | 6.4% | 1.5% |
| 50 DMA to 200 DMA | 110% | 92.1% |
| EPS Revision | -0.4% | -6.8% |
| Change In Shares | -2.9% | 4.9% |
| Earnings Abnormal Return | 2.3% | -1.4% |
Sector Weightings as of 2024-Mar-31
| Long | Short | |
|---|---|---|
| Communication Services | 3.3% | 0.0% |
| Consumer Discretionary | 6.7% | -1.0% |
| Consumer Staples | 13.3% | -2.0% |
| Energy | 36.4% | -5.1% |
| Financials | 23.3% | -1.0% |
| Health Care | 0.0% | -1.0% |
| Industrials | 20.1% | -3.0% |
| Information Technology | 26.5% | -1.0% |
| Materials | 19.8% | -20.1% |
| Real Estate | 0.0% | -4.1% |
| Utilities | 0.0% | -7.0% |
| Equity Exposure | 149.4% | -45.3% |
Fund Holdings as of 2024-Mar-31
| Long Security Name | Weight | |
|---|---|---|
| Converge Technology Solutions | 3.4% | |
| Celestica Inc | 3.4% | |
| Champion Iron Ltd | 3.4% | |
| Descartes Systems Group Inc/Th | 3.4% | |
| Toromont Industries Ltd | 3.4% | |
| Definity Financial Corp | 3.4% | |
| Stantec Inc | 3.4% | |
| Advantage Energy Ltd | 3.4% | |
| Onex Corp | 3.4% | |
| Hammond Power Solutions Inc | 3.4% | |
| Alimentation Couche-Tard Inc | 3.4% | |
| TFI International Inc | 3.4% | |
| Dollarama Inc | 3.4% | |
| CGI Inc | 3.3% | |
| Imperial Oil Ltd | 3.3% | |
| Suncor Energy Inc | 3.3% | |
| Air Canada | 3.3% | |
| Fairfax Financial Holdings Ltd | 3.3% | |
| George Weston Ltd | 3.3% | |
| SilverCrest Metals Inc | 3.3% | |
| MEG Energy Corp | 3.3% | |
| Russel Metals Inc | 3.3% | |
| Manulife Financial Corp | 3.3% | |
| Secure Energy Services Inc | 3.3% | |
| Docebo Inc | 3.3% | |
| CES Energy Solutions Corp | 3.3% | |
| goeasy Ltd | 3.3% | |
| Gildan Activewear Inc | 3.3% | |
| CI Financial Corp | 3.3% | |
| Loblaw Cos Ltd | 3.3% | |
| North West Co Inc/The | 3.3% | |
| Canadian Natural Resources Ltd | 3.3% | |
| Parex Resources Inc | 3.3% | |
| Sun Life Financial Inc | 3.3% | |
| NuVista Energy Ltd | 3.3% | |
| Open Text Corp | 3.3% | |
| Quebecor Inc | 3.3% | |
| Dundee Precious Metals Inc | 3.3% | |
| Pason Systems Inc | 3.3% | |
| Trican Well Service Ltd | 3.2% | |
| Major Drilling Group Internati | 3.2% | |
| Stella-Jones Inc | 3.2% | |
| Kinross Gold Corp | 3.2% | |
| Constellation Software Inc/Can | 3.2% | |
| Topicus.com Inc | 3.2% |
| Short Security Name | Weight | |
|---|---|---|
| Altius Minerals Corp | -1.1% | |
| K92 Mining Inc | -1.0% | |
| NexGen Energy Ltd | -1.0% | |
| Franco-Nevada Corp | -1.0% | |
| First Quantum Minerals Ltd | -1.0% | |
| NorthWest Healthcare Properties REIT | -1.0% | |
| Park Lawn Corp | -1.0% | |
| Crescent Point Energy Corp | -1.0% | |
| ATS Corp | -1.0% | |
| Laurentian Bank of Canada | -1.0% | |
| Baytex Energy Corp | -1.0% | |
| Altus Group Ltd/Canada | -1.0% | |
| ERO Copper Corp | -1.0% | |
| Birchcliff Energy Ltd | -1.0% | |
| Torex Gold Resources Inc | -1.0% | |
| Nutrien Ltd | -1.0% | |
| Fortuna Silver Mines Inc | -1.0% | |
| SmartCentres Real Estate Inves | -1.0% | |
| Osisko Gold Royalties Ltd | -1.0% | |
| Endeavour Mining PLC | -1.0% | |
| Aecon Group Inc | -1.0% | |
| Interfor Corp | -1.0% | |
| Filo Corp | -1.0% | |
| Allied Properties Real Estate | -1.0% | |
| Well Health Technologies Corp | -1.0% | |
| Emera Inc | -1.0% | |
| Pan American Silver Corp | -1.0% | |
| MAG Silver Corp | -1.0% | |
| Brookfield Infrastructure Corp | -1.0% | |
| Brookfield Infrastructure Part | -1.0% | |
| Maple Leaf Foods Inc | -1.0% | |
| Saputo Inc | -1.0% | |
| First Majestic Silver Corp | -1.0% | |
| Algonquin Power & Utilities Co | -1.0% | |
| Brookfield Renewable Corp | -1.0% | |
| Innergex Renewable Energy Inc | -1.0% | |
| Lightspeed Commerce Inc | -1.0% | |
| SSR Mining Inc | -1.0% | |
| Crew Energy Inc | -1.0% | |
| Canfor Corp | -1.0% | |
| Northland Power Inc | -1.0% | |
| B2Gold Corp | -1.0% | |
| Newmont Corp | -1.0% | |
| Ballard Power Systems Inc | -1.0% | |
| Novagold Resources Inc | -0.9% |
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DISCLAIMER: This information on this web page does not constitute investment, legal or tax advice. Performance is inclusive of reinvested distributions. Past performance is not indicative of future results. Any data provided on this web page should not be viewed as a recommendation or solicitation of an offer to buy or sell any securities or investment strategies. The information on this web page is based on market conditions and may fluctuate and change without notice. Accelerate does not accept any liability for any direct, indirect or consequential loss or damage suffered by any person as a result of relying on all or any part of this website and any liability is expressly disclaimed.
