The Fund is available to institutional and individual accredited investors. The Fund is domiciled and managed in Canada, and subject as applicable, to Canadian tax laws.  

Trading Advisor: Authentic Asset Management Inc. / Gestion D’actifs Authentic Inc.

Investment Fund Manager: Innocap Investment Management Inc.

Custodian/Prime Broker: TD

Bank: Scotia

Fund Administrator: Apex

Fund Auditor: PwC

Fund Type: Open-ended

Valuation: Net Asset Value calculated daily

Subscription Period: Daily

Redemption Period: Within 30 days upon receipt of notification

Management/Performance Fees: 1%/20%

Inception: Strategy commenced Nov. 01, 2020, Fund commenced May 01, 2022

Currency: CAD

Review Private Offering Memorandum

Complete Subscription Agreement

Transfer funds to the Fund’s bank, receive shares in the Fund

The Fund typically consists of 40 to 80 positions constructed with exchange-traded securities.

Institutional and accredited investors through a private Offering Memorandum with medium risk tolerance and investment time horizon. An innovative approach, it can be a good diversifier for clients that have long portfolios of assets already. Minimum investment: $500,000 to $1,000,000.

Unique proprietary event-driven strategy with three key sources of return:

1. M&A – Monetizing the time-value of the evolution of deals involving merger & acquisition arbitrage.
2. Event-Driven – Capitalizing on the mispricing of securities in corporate situations driven by catalysts that affect value.
3. Macro Overlay – Strategy for mitigating downside portfolio risk, improving the risk/reward profile of volatility, and structuring high convexity payout opportunities.

The fund consists of a selection of discrete event-driven deals typically consisting of stocks and related options. In addition, exchange-traded commodity and other funds and foreign currency may be used to mitigate downside risk to protect the fund, reduce correlation to the stock market, and improve the upside potential from changes in volatility.

Returns are not dependent on the direction of markets or level of valuations.

Each event-driven opportunity is evaluated on its own merits for consideration in the portfolio. The first focus for the sizing of each deal is the downside risk. Since each deal has a unique profile, they provide some diversification (orthogonality) to existing positions. Nevertheless, positions may be put on at the portfolio level to reduce risk and market exposure. In addition to corporate opportunities, strategies may seek to profit from macro convexity and special situations that can produce high convex payouts during turbulent environments.

The time value of a deal is monetized by positioning in a merger deal between two companies, upon completion of analysis evaluating the nature, likelihood, final price and timing of completion. A portion of this carry is put to work into compelling highly asymmetric mispriced opportunities.