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
TRADING DATA
NAV:
$20.3240
Date & Time:
17-07-2019, 21:16pm
QUICK FACTS
Type:
Long-short equity
Date Started:
May 10, 2019
Management Fee:
0.00%
Performance Fee:
20% of outperformance over high water mark
Investment Manager:
Accelerate Financial Technologies Inc.
Distribution Frequency:
Quarterly
Exchange:
TSX
Currency:
CAD
Risk Rating:
Medium
Reference Portfolio Performance
Investment Process
HDGE utilizes a systematic, proprietary multi-factor model to sort and rank all liquid North American stocks based on five principal factors:
- Value
- Quality
- Price Momentum
- Operating Momentum
- Trend
The Fund goes long a portfolio of the highest expected return stocks selected from the top decile ranking from the multi-factor model while going short a portfolio of the lowest expected return stocks selected from the bottom decile ranking. The portfolio is rebalanced on a monthly basis.
Performance as of 2019-Jun-28
| 1 Month | 3 Months | YTD | 1 Year | 3 Years | Since Inception | ||
|---|---|---|---|---|---|---|---|
| HDGE | n/a | n/a | n/a | n/a | n/a | n/a |
Under current regulations, fund performance can only be published one year after its inception.
Fund Characteristics as of 2019-Jun-28
| Long | Short | |
|---|---|---|
| Number of Securities | 46 | 33 |
| Average Market Cap ($mm) | $33,123 | $782 |
| Beta | 1.0 | 0.9 |
| EBITDA / EV | 7.8% | -11.1% |
| FCF / EV | 6.6% | -14.1% |
| 12-Month Return | 36.2% | -43.1% |
| % of 52 Week High | 92.3% | 50.7% |
| Return on Capital | 23.8% | -38.5% |
| Gross Profits / Assets | 9.4% | 2.6% |
| 50 DMA / 200 DMA | 117.1% | 84.5% |
| EPS Revisions | -1.4% | -2.8% |
| Change In Shares | -3.4% | 35.6% |
| Earnings Abnormal Return | 2.4% | -0.4% |
Sector Weightings as of 2019-Jun-28
| Long | Short | |
|---|---|---|
| Communication Services | 10.8% | -2.6% |
| Consumer Discretionary | 13.4% | -4.9% |
| Consumer Staples | 6.5% | 0.0% |
| Energy | 4.8% | -2.8% |
| Financials | 14.7% | -5.5% |
| Health Care | 20.8% | -10.1% |
| Industrials | 17.8% | -8.9% |
| Information Technology | 19.6% | -6.8% |
| Materials | 0.0% | -4.1% |
| Real Estate | 1.8% | -2.6% |
| Utilities | 0.0% | 0.0% |
| Total Equities | 110.3% | -48.4% |
Fund Holdings as of 2019-Jun-28
| Long Security Name | Weight | |
|---|---|---|
| Zynex Inc | 3.3% | |
| GlobalSCAPE Inc | 3.1% | |
| Bruker Corp | 2.9% | |
| Viemed Healthcare Inc | 2.9% | |
| Hershey Co | 2.8% | |
| Badger Daylighting Ltd | 2.8% | |
| Chemed Corp | 2.7% | |
| Napco Security Technologies Inc | 2.7% | |
| Cincinnati Financial Corp | 2.7% | |
| Alimentation Couche-Tard Inc | 2.7% | |
| Starbucks Corp | 2.7% | |
| Cogeco Communications Inc | 2.7% | |
| Rent-A-Center Inc | 2.6% | |
| AGCO Corp | 2.6% | |
| MSCI Inc | 2.6% | |
| Prestige Consumer Healthcare I | 2.6% | |
| Nicolet Bankshares Inc | 2.6% | |
| Gildan Activewear Inc | 2.6% | |
| CDW Corp | 2.5% | |
| Cadence Design Systems Inc | 2.5% | |
| Parex Resources Inc | 2.5% | |
| Great Lakes Dredge & Dock Corp | 2.5% | |
| Incyte Corp | 2.5% | |
| MasTec Inc | 2.5% | |
| Tech Data Corp | 2.5% | |
| Altice USA Inc | 2.5% | |
| Carlisle Cos Inc | 2.5% | |
| Masco Corp | 2.5% | |
| Teradyne Inc | 2.5% | |
| Avid Technology Inc | 2.4% | |
| CSX Corp | 2.4% | |
| Essent Group Ltd | 2.4% | |
| Dicks Sporting Goods Inc | 2.4% | |
| Eli Lilly & Co | 2.4% | |
| Popular Inc | 2.3% | |
| Cactus Inc | 2.3% | |
| Nexstar Media Group Inc | 2.2% | |
| Sinclair Broadcast Group Inc | 2.2% | |
| Pzena Investment Management Inc | 2.1% | |
| Foot Locker Inc | 1.9% | |
| Marcus & Millichap Inc | 1.8% | |
| Joint Corp/The | 1.6% | |
| Abercrombie & Fitch Co | 1.3% | |
| Microsoft Corp | 1.3% | |
| Facebook Inc | 1.2% | |
| PepsiCo Inc | 1.1% |
| Short Security Name | Weight | |
|---|---|---|
| Westport Fuel Systems Inc | -2.4% | |
| Pieris Pharmaceuticals Inc | -2.3% | |
| Marker Therapeutics Inc | -2.3% | |
| Premier Gold Mines Ltd | -2.1% | |
| Coeur Mining Inc | -2.0% | |
| Del Friscos Restaurant Group | -1.9% | |
| Maxar Technologies Inc | -1.8% | |
| NN Inc | -1.6% | |
| Hill International Inc | -1.6% | |
| Enstar Group Ltd | -1.6% | |
| Adient PLC | -1.6% | |
| RBB Bancorp | -1.5% | |
| Deciphera Pharmaceuticals Inc | -1.5% | |
| SNC-Lavalin Group Inc | -1.5% | |
| Valeura Energy Inc | -1.5% | |
| Mr Cooper Group Inc | -1.4% | |
| Red Lion Hotels Corp | -1.4% | |
| Kala Pharmaceuticals Inc | -1.4% | |
| Five Point Holdings LLC | -1.3% | |
| NII Holdings Inc | -1.3% | |
| Pacific Drilling SA | -1.3% | |
| Trinity Place Holdings Inc | -1.3% | |
| NETGEAR Inc | -1.3% | |
| Applied Optoelectronics Inc | -1.3% | |
| Immersion Corp | -1.3% | |
| Gaia Inc | -1.3% | |
| Mersana Therapeutics Inc | -1.2% | |
| Brooks Automation Inc | -1.2% | |
| IMV Inc | -1.0% | |
| Infinera Corp | -1.0% | |
| Senmiao Technology Ltd | -1.0% | |
| Cloudera Inc | -0.7% | |
| Checkpoint Therapeutics Inc | -0.4% | |