Portland North American Alternative Fund
James Cole, CFA
Senior Vice President and Portfolio Manager
James has over 36 years of investment experience including over 27 years as a portfolio manager responsible for Canadian and U.S. equities.
As at June 30, 2021
|1 Month||3 Months||1 Year||Since Inception4|
|Portland North American Alternative Fund - Series A||(0.3%)||1.3%||24.2%||19.6%|
|Portland North American Alternative Fund - Series F||(0.2%)||1.6%||25.6%||20.9%|
|MSCI Canada Index||2.5%||8.4%||32.6%||34.6%|
|Cash & Other Net Assets (Liabilities)1||25.6%|
|Cash & Other Net Assets (Liabilities)1||25.6%|
|Cash & Cash Equivalents||25.4%|
|TC Energy Corp.||13.6%|
|Shaw Communications, Inc.||13.3%|
|SoftBank Group Corp.||9.6%|
|Vodafone Group PLC||9.0%|
|General Electric Company||8.5%|
|The Bank of New York Mellon Corporation||2.4%|
|Lumen Technologies, Inc.||2.1%|
|Liberty Global PLC||1.3%|
|Net Asset Value Per Unit||Management Fee||Performance Fee||Series Start Date|
|Portland North American Alternative Fund - Series A||$12.3181||1.75%||10% above high water mark||Apr. 17, 2020|
|Portland North American Alternative Fund - Series F||$12.4806||0.75%||10% above high water mark||Apr. 17, 2020|
|Fund Net Assets||$3.1 million|
|CIFSC* Asset Class||Alternative Equity Focused|
|MER5||Series A: 2.8%, Series F: 1.6%|
The Fund’s objective is to achieve, over the long-term, preservation of capital and a satisfactory return through focused investing in long security positions.
The Fund may also engage in borrowing for investment purposes.
Key Reasons To Invest
Close adherence to Framework:
Five Laws of Wealth Creation:
Own a few high quality businesses
Thoroughly understand these businesses
Ensure these businesses are domiciled in strong, long-term growth industries
Use other people’s money prudently
Hold these businesses for the long run
How The Fund is Managed
Active management of equities to potentially enhance returns
Active management of leverage – up to 50% of net assets
Focused number of equity holdings
Willingness to hold cash and hedge currency
Preservation of capital
Satisfactory long-term total returns
The Manager believes the following risks may impact the performance of the Fund: equity risk, leverage risk, concentration risk and currency risk. Please read the “What are the risks of investing in the Fund?” section in the Simplified Prospectus for a more detailed description of all the relevant risks.
Use of any third party quotations does not in any way suggest that person endorses Portland Investment Counsel Inc. and/or this product.
* Canadian Investment Funds Standards Committee
1. Other Net Assets (Liabilities) refers to all other assets and liabilities in the Fund excluding portfolio investments.
2. Where the Fund holds less than 25 holdings, all investments have been disclosed. There may be other assets and liabilities which are not included, and therefore the summary does not add up to 100%
3. Generally available through dealers who have entered into a Portland Series F Dealer Agreement.
5. MER or management expense ratio is presented excluding performance fees and is after absorptions as at March 31, 2021. MER is updated on a semi-annual basis and the Manager may absorb operating expenses of the Fund at its discretion but is under no obligation to do so. The MER including performance fees and absorptions was 8.1% and 7.2% for Series A and Series F, respectively, as at March 31, 2021.
Risk tolerance measures the degree of uncertainty that an investor can handle regarding fluctuations in the value of their portfolio. The amount of risk associated with any particular investment depends largely on your own personal circumstances including your time horizon, liquidity needs, portfolio size, income, investment knowledge and attitude toward price fluctuations. Investors should consult their financial advisor before making a decision as to whether this Fund is a suitable investment for them.
Commissions, trailing commissions, management fees and expenses all may be associated with mutual fund investments. The indicated rates of return are the historical annual compounded total returns including changes in units [share] value and reinvestment of all distributions [dividends] and do not take into account sales, redemption, distribution or optional charges or income taxes payable by any security holder that would have reduced returns. The rates of return are used only to illustrate the effects of the compound growth rate and are not intended to reflect future values of the mutual fund or returns on investment in the mutual fund. Mutual funds are not guaranteed, their values change frequently and past performance may not be repeated.
James Cole is the portfolio manager of Portland Focused Plus Fund LP, Portland Focused Plus Fund, Portland North American Alternative Fund and Portland Canadian Balanced Fund. The four funds generally hold some of the same securities and may make trades in such securities simultaneously.
Information presented in this material should be considered for background information only and should not be construed as investment or financial advice. Please consult a Financial Advisor. Every effort has been made to ensure the utmost accuracy of the information provided. Information provided is believed to be reliable when posted. All information is subject to modification from time to time without notice. Consent is required for any reproduction, in whole or in part, of this piece and/or of its images and concepts. Please read the Prospectus before investing. PORTLAND INVESTMENT COUNSEL is a registered trademark of Portland Holdings Inc. The Unicorn Design is a trademark of Portland Holdings Inc. Used under license by Portland Investment Counsel Inc. BUY. HOLD. AND PROSPER. is a registered trademark of AIC Global Holdings Inc. used under license by Portland Investment Counsel Inc.