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:
$17.4948
Date:
2020-01-28
QUICK FACTS
Type:
Long-short equity
Date Started:
May 10, 2019
Management Fee:
0.00%
Performance Fee:
20% of outperformance over high water mark
Investment Manager:
Accelerate Financial Technologies Inc.
Distribution Frequency:
Quarterly
Exchange:
TSX
Currency:
CAD
Risk Rating:
Medium
Reference Portfolio Performance
Investment Process
HDGE utilizes a systematic, proprietary multi-factor model to sort and rank all liquid North American stocks based on five principal factors:
- Value
- Quality
- Price Momentum
- Operating Momentum
- Trend
The Fund goes long a portfolio of the highest expected return stocks selected from the top decile ranking from the multi-factor model while going short a portfolio of the lowest expected return stocks selected from the bottom decile ranking. The portfolio is rebalanced on a monthly basis.
Performance as of 2019-Dec-31
| 1 Month | 3 Months | YTD | 1 Year | 3 Years | Since Inception | ||
|---|---|---|---|---|---|---|---|
| HDGE | n/a | n/a | n/a | n/a | n/a | n/a |
Under current regulations, fund performance can only be published one year after its inception.
Fund Characteristics as of 2019-Dec-31
| Long | Short | |
|---|---|---|
| Number of Securities | 44 | 40 |
| Average Market Cap ($mm) | $45,029 | $2,285 |
| Beta | 0.9 | 1.2 |
| EBITDA/EV | 10.7% | 0.4% |
| FCF/EV | 5.0% | -12.9% |
| Trailing Return | 71.1% | -33.1% |
| Pct of 52 Week High | 95.5% | 53.4% |
| Return on Capital | 18.5% | -20.6% |
| Gross Profits/Assets | 9.1% | 3.9% |
| 50 DMA to 200 DMA | 118.9% | 81.3% |
| EPS Revision | 0.1% | -0.9% |
| Change In Shares | -1.8% | 5.9% |
| Earnings Abnormal Return | 8.4% | -9.2% |
Sector Weightings as of 2019-Dec-31
| Long | Short | |
|---|---|---|
| Communication Services | 2.7% | 0.0% |
| Consumer Discretionary | 17.8% | -8.1% |
| Consumer Staples | 5.2% | 0.0% |
| Energy | 8.4% | -4.7% |
| Financials | 10.6% | 0.0% |
| Health Care | 14.8% | -10.1% |
| Industrials | 19.9% | -8.9% |
| Information Technology | 22.7% | -9.8% |
| Materials | 13.8% | -4.4% |
| Real Estate | 0.0% | 0.0% |
| Utilities | 0.0% | -1.3% |
| Total Equities | 115.8% | -47.2% |
Fund Holdings as of 2019-Dec-31
| Long Security Name | Weight | |
|---|---|---|
| Skyworks Solutions Inc | 3.2% | |
| Geopark Ltd | 3.1% | |
| K92 Mining Inc | 3.0% | |
| Torex Gold Resources Inc | 3.0% | |
| Cirrus Logic Inc | 3.0% | |
| InfuSystem Holdings Inc | 2.9% | |
| AudioCodes Ltd | 2.9% | |
| Applied Materials Inc | 2.9% | |
| Apple Inc | 2.9% | |
| Jabil Inc | 2.8% | |
| United Rentals Inc | 2.8% | |
| Sanderson Farms Inc | 2.8% | |
| PC Connection Inc | 2.8% | |
| Amgen Inc | 2.7% | |
| Crawford & Company | 2.7% | |
| DaVita Inc | 2.7% | |
| Target Corp | 2.7% | |
| MasTec Inc | 2.7% | |
| Cogeco Inc | 2.7% | |
| CI Financial Corp | 2.7% | |
| Builders FirstSource Inc | 2.7% | |
| China Biologic Products Holdings Inc | 2.6% | |
| Alacer Gold Corp | 2.6% | |
| Reliance Steel & Aluminum Co | 2.6% | |
| Deluxe Corp | 2.6% | |
| Computer Modelling Group Ltd | 2.6% | |
| Phillips 66 | 2.6% | |
| Kimball International Inc | 2.6% | |
| Sportsmans Warehouse Holdings | 2.6% | |
| Northern Trust Corp | 2.6% | |
| Murphy USA Inc | 2.6% | |
| BMC Stock Holdings Inc | 2.6% | |
| Universal Forest Products Inc | 2.6% | |
| Zumiez Inc | 2.6% | |
| MSCI Inc | 2.6% | |
| BRP Inc | 2.5% | |
| Schweitzer-Mauduit International Inc | 2.5% | |
| John B Sanfilippo & Son Inc | 2.4% | |
| Lithia Motors Inc | 2.4% | |
| CSG Systems International Inc | 2.4% | |
| Corcept Therapeutics Inc | 2.4% | |
| RH | 2.4% | |
| AbbVie Inc | 1.4% | |
| American Woodmark Corp | 1.3% |
| Short Security Name | Weight | |
|---|---|---|
| Babcock & Wilcox Enterprises | -1.4% | |
| Applied Optoelectronics Inc | -1.4% | |
| Manitex International Inc | -1.4% | |
| Twin Disc Inc | -1.4% | |
| Ag Growth International Inc | -1.3% | |
| Lovesac Co | -1.3% | |
| Wayfair Inc | -1.3% | |
| Occidental Petroleum Corp | -1.3% | |
| Inovio Pharmaceuticals Inc | -1.3% | |
| Pluralsight Inc | -1.3% | |
| New Jersey Resources Corp | -1.3% | |
| 2U Inc | -1.3% | |
| Calyxt Inc | -1.3% | |
| Benefitfocus Inc | -1.3% | |
| UroGen Pharma Ltd | -1.3% | |
| Canfor Pulp Products Inc | -1.2% | |
| Roadrunner Transportation Systems Inc | -1.2% | |
| Arlo Technologies Inc | -1.2% | |
| Twilio Inc | -1.2% | |
| Veoneer Inc | -1.2% | |
| Carrols Restaurant Group Inc | -1.2% | |
| Drive Shack Inc | -1.2% | |
| Titan International Inc | -1.2% | |
| KalVista Pharmaceuticals Inc | -1.2% | |
| Nexa Resources SA | -1.2% | |
| Laredo Petroleum Inc | -1.1% | |
| Hudbay Minerals Inc | -1.1% | |
| Contura Energy Inc | -1.1% | |
| Five Prime Therapeutics Inc | -1.1% | |
| SandRidge Energy Inc | -1.1% | |
| Immersion Corp | -1.1% | |
| Eloxx Pharmaceuticals Inc | -1.1% | |
| Synchronoss Technologies Inc | -1.1% | |
| Aerie Pharmaceuticals Inc | -1.0% | |
| Grubhub Inc | -1.0% | |
| Concrete Pumping Holdings Inc | -1.0% | |
| Dynavax Technologies Corp | -0.9% | |
| Gritstone Oncology Inc | -0.9% | |
| LSB Industries Inc | -0.9% | |
| At Home Group Inc | -0.8% | |
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