Picton Mahoney Arbitrage Plus Fund (A)¹

Monthly Returns

PICTON MAHONEY ARBITRAGE PLUS FUND CLASS (A)	HFRI ED MERGER ARBITRAGE INDEX (HEDGED TO CAD)

2023

June	-0.01	1.59
May	-0.96	-2.58
April	0.38	0.07
March	-0.64	-1.89
February	0.20	-0.27
January	0.17	0.39

2022

December	0.74	0.85
November	-0.38	-0.46
October	1.26	2.09
September	-0.08	-0.95
August	0.09	0.94
July	1.56	2.28
June	-0.74	-1.58
May	-1.45	-1.05
April	-0.29	-0.54
March	0.66	0.85
February	0.40	0.51
January	-0.99	-0.05

2021

December	0.03	0.74
November	0.40	-0.29
October	1.23	1.08
September	0.59	0.94
August	-0.44	0.91
July	-1.66	-1.29
June	0.34	0.32
May	-0.34	0.81
April	2.69	2.57
March	-4.26	-0.33
February	2.97	2.17
January	8.18	2.58

2020

December	11.21	3.31
November	8.93	4.53
October	-2.65	1.14
September	4.81	0.87
August	0.36	0.84
July	2.13	0.80
June	7.57	1.32
May	1.73	-0.75
April	3.04	4.84
March	-5.62	-9.58
February	-0.18	-1.36
January	1.54	-0.09

2019

December	1.07	1.01
November	0.82	0.92
October	0.49	0.46
September	0.20	0.42
August	0.22	0.04
July	0.81	0.62
June	-0.29	0.47
May	0.04	-0.72
April	0.73	0.89
March	0.81	0.32
February	0.10	0.73
January	0.30	1.47

2018

December	-0.25	-0.41
November	0.84	1.33
October	0.01	-0.89
September	0.83	0.34
August	0.83	0.54
July	-0.32	-0.34
June	1.36	1.26
May	1.77	1.38
April	0.66	-0.12
March	-0.88	-1.05
February	0.48	0.17
January	0.36	1.05

2017

December	0.23	0.54
November	-2.40	-0.82
October	0.32	0.27
September	0.54	0.61
August	0.47	-0.03
July	0.43	0.30
June	0.95	1.12
May	0.88	0.24
April	1.24	1.14
March	0.50	0.29

¹ Name changes for the Picton Mahoney Arbitrage Fund (formerly, Vertex Arbitrage Fund) and Picton Mahoney Arbitrage Plus Fund (formerly, Vertex Arbitrage Plus Fund) are effective on January 13, 2020.