About the Fund
The Accelerate Absolute Return Hedge Fund (TSX: HDGE) is a diversified, liquid, and performance-oriented long-short equity hedge fund that seeks to achieve long-term capital appreciation and a superior risk-adjusted return relative to the broader U.S. equity market.
Investment Objectives
- Target 10-15% annualized returns
- Generate positive returns irrespective of market direction
- Hedge downside risk
- Manage volatility
- Provide uncorrelated returns
HDGE TRADING DATA
NAV:
$19.7816
Date:
2019-11-18
QUICK FACTS
Type:
Long-short equity
Date Started:
May 10, 2019
Management Fee:
0.00%
Performance Fee:
20% of outperformance over high water mark
Investment Manager:
Accelerate Financial Technologies Inc.
Distribution Frequency:
Quarterly
Exchange:
TSX
Currency:
CAD
Risk Rating:
Medium
Reference Portfolio Performance
Investment Process
HDGE utilizes a systematic, proprietary multi-factor model to sort and rank all liquid North American stocks based on five principal factors:
- Value
- Quality
- Price Momentum
- Operating Momentum
- Trend
The Fund goes long a portfolio of the highest expected return stocks selected from the top decile ranking from the multi-factor model while going short a portfolio of the lowest expected return stocks selected from the bottom decile ranking. The portfolio is rebalanced on a monthly basis.
Performance as of 2019-Oct-31
| 1 Month | 3 Months | YTD | 1 Year | 3 Years | Since Inception | ||
|---|---|---|---|---|---|---|---|
| HDGE | n/a | n/a | n/a | n/a | n/a | n/a |
Under current regulations, fund performance can only be published one year after its inception.
Fund Characteristics as of 2019-Oct-31
| Long | Short | |
|---|---|---|
| Number of Securities | 46 | 40 |
| Average Market Cap ($mm) | $26,744 | $1,619 |
| Beta | 0.9 | 1.2 |
| EBITDA/EV | 9.0% | -10.1% |
| FCF/EV | 5.1% | -20.4% |
| Trailing Return | 48.5% | -46.4% |
| Pct of 52 Week High | 94.8% | 44.4% |
| Return on Capital | 24.1% | -17.4% |
| Gross Profits/Assets | 10.9% | 3.8% |
| 50 DMA to 200 DMA | 115.8% | 69.5% |
| EPS Revision | 0.7% | 0.9% |
| Change In Shares | -2.0% | 8.2% |
| Earnings Abnormal Return | 4.2% | -10.5% |
Sector Weightings as of 2019-Oct-31
| Long | Short | |
|---|---|---|
| Communication Services | 5.4% | 0.0% |
| Consumer Discretionary | 16.1% | -5.5% |
| Consumer Staples | 11.1% | -1.1% |
| Energy | 3.7% | -4.6% |
| Financials | 7.7% | -2.4% |
| Health Care | 20.1% | -10.3% |
| Industrials | 20.4% | -9.1% |
| Information Technology | 15.8% | -6.3% |
| Materials | 9.9% | -4.7% |
| Real Estate | 0.0% | 0.0% |
| Utilities | 0.0% | -1.2% |
| Total Equities | 110.2% | -45.1% |
Fund Holdings as of 2019-Oct-31
| Long Security Name | Weight | |
|---|---|---|
| Anika Therapeutics Inc | 3.0% | |
| Lam Research Corp | 2.9% | |
| John B Sanfilippo & Son Inc | 2.8% | |
| Cable One Inc | 2.8% | |
| Amgen Inc | 2.7% | |
| Kimball International Inc | 2.6% | |
| RH | 2.6% | |
| Edwards Lifesciences Corp | 2.6% | |
| MarketAxess Holdings Inc | 2.6% | |
| Cogeco Communications Inc | 2.6% | |
| Asbury Automotive Group Inc | 2.6% | |
| S&P Global Inc | 2.6% | |
| RPM International Inc | 2.6% | |
| BMC Stock Holdings Inc | 2.6% | |
| Lululemon Athletica Inc | 2.6% | |
| Quanex Building Products Corp | 2.6% | |
| Keysight Technologies Inc | 2.6% | |
| GMS Inc | 2.6% | |
| IDEXX Laboratories Inc | 2.6% | |
| NewMarket Corp | 2.5% | |
| Copart Inc | 2.5% | |
| Teradyne Inc | 2.5% | |
| Cintas Corp | 2.5% | |
| Merck & Co Inc | 2.5% | |
| Zoetis Inc | 2.5% | |
| Herman Miller Inc | 2.5% | |
| Crawford & Co | 2.4% | |
| Valvoline Inc | 2.4% | |
| Collectors Universe Inc | 2.4% | |
| Trex Co Inc | 2.4% | |
| Target Corp | 2.4% | |
| Chemed Corp | 2.4% | |
| PepsiCo Inc | 2.4% | |
| Boston Beer Co Inc/The | 2.4% | |
| Orca Exploration Group Inc | 2.4% | |
| Coca-Cola European Partners PL | 2.3% | |
| Gran Colombia Gold Corp | 2.3% | |
| Texas Instruments Inc | 2.2% | |
| Manhattan Associates Inc | 2.2% | |
| Dennys Corp | 2.2% | |
| GlobalSCAPE Inc | 2.1% | |
| Zynex Inc | 1.8% | |
| KLA Corp | 1.3% | |
| World Fuel Services Corp | 1.3% | |
| Meritage Homes Corp | 1.2% | |
| Empire Co Ltd | 1.2% | |
| GlobalSCAPE Inc | 0.6% |
| Short Security Name | Weight | |
|---|---|---|
| SNC-Lavalin Group Inc | -1.5% | |
| Flexsteel Industries Inc | -1.4% | |
| Forty Seven Inc | -1.4% | |
| Pluralsight Inc | -1.4% | |
| Golden Star Resources Ltd | -1.4% | |
| 2U Inc | -1.3% | |
| Evelo Biosciences Inc | -1.3% | |
| Concho Resources Inc | -1.3% | |
| Arlo Technologies Inc | -1.2% | |
| Ranpak Holdings Corp | -1.2% | |
| Rocket Pharmaceuticals Inc | -1.2% | |
| FNCB Bancorp Inc | -1.2% | |
| New Relic Inc | -1.2% | |
| Just Energy Group Inc | -1.2% | |
| Aldeyra Therapeutics Inc | -1.2% | |
| State Street Corp | -1.2% | |
| Domo Inc | -1.2% | |
| KalVista Pharmaceuticals Inc | -1.1% | |
| Roadrunner Transportation Systems | -1.1% | |
| Atlas Air Worldwide Holdings Inc | -1.1% | |
| Bloom Energy Corp | -1.1% | |
| US Xpress Enterprises Inc | -1.1% | |
| Twin Disc Inc | -1.1% | |
| ViewRay Inc | -1.1% | |
| Xeris Pharmaceuticals Inc | -1.1% | |
| Farmer Brothers Co | -1.1% | |
| At Home Group Inc | -1.1% | |
| Flotek Industries Inc | -1.1% | |
| Red Lion Hotels Corp | -1.1% | |
| EyePoint Pharmaceuticals Inc | -1.0% | |
| Venator Materials PLC | -1.0% | |
| Leaf Group Ltd | -1.0% | |
| Fluor Corp | -1.0% | |
| YRC Worldwide Inc | -0.9% | |
| Mammoth Energy Services Inc | -0.9% | |
| Indigo Books & Music Inc | -0.9% | |
| BioCryst Pharmaceuticals Inc | -0.9% | |
| Contango Oil & Gas Co | -0.8% | |
| Unit Corp | -0.8% | |
| Valaris plc | -0.8% | |
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