Picton Mahoney Arbitrage Plus Fund (F)¹

Monthly Returns

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

2023

June	0.08	1.59
May	-0.81	-2.58
April	0.41	0.07
March	-0.52	-1.89
February	0.28	-0.27
January	0.25	0.39

2022

December	0.81	0.85
November	-0.29	-0.46
October	1.24	2.09
September	0.01	-0.95
August	0.18	0.94
July	1.65	2.28
June	-0.66	-1.58
May	-1.36	-1.05
April	-0.20	-0.54
March	0.70	0.85
February	0.49	0.51
January	-0.90	-0.05

2021

December	0.09	0.74
November	0.43	-0.29
October	1.31	1.08
September	0.68	0.94
August	-0.35	0.91
July	-1.56	-1.29
June	0.39	0.32
May	-0.27	0.81
April	2.76	2.57
March	-4.19	-0.33
February	3.05	2.17
January	8.30	2.58

2020

December	10.94	3.31
November	8.93	4.53
October	-2.56	1.14
September	4.92	0.87
August	0.41	0.84
July	2.22	0.80
June	7.68	1.32
May	1.64	-0.75
April	3.13	4.84
March	-5.41	-9.58
February	-0.12	-1.36
January	1.64	-0.09

2019

December	1.15	1.01
November	0.91	0.92
October	0.57	0.46
September	0.28	0.42
August	0.30	0.04
July	0.89	0.62
June	-0.21	0.47
May	0.15	-0.72
April	0.81	0.89
March	0.89	0.32
February	0.18	0.73
January	0.47	1.47

2018

December	-0.27	-0.41
November	0.92	1.33
October	0.10	-0.89
September	0.93	0.34
August	0.90	0.54
July	-0.22	-0.34
June	1.44	1.26
May	1.75	1.38
April	0.75	-0.12
March	-0.79	-1.05
February	0.57	0.17
January	0.46	1.05

2017

December	0.32	0.54
November	-2.30	-0.82
October	0.40	0.27
September	0.58	0.61
August	0.51	-0.03
July	0.47	0.30
June	0.99	1.12
May	0.91	0.24
April	1.28	1.14
March	0.43	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.