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Let's discuss how PCCS can help.

WHAT IS
PCCS?

At Picton Mahoney Asset Management, we believe that portfolio construction is one of the great differentiators in the Canadian investment industry. Through our Portfolio Construction Consultation Service for advisors, we offer you access to unique data, as well as stress testing and scenario analysis to help you design portfolios that aim to achieve better outcomes and help your clients stay invested in all market conditions.

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Our experienced portfolio consulting professionals are a multi-disciplinary team with backgrounds in asset allocation, risk management, quantitative research and portfolio management.

We are committed to building a true partnership with you, centered around a disciplined, consistent and defensible approach for constructing portfolios. Our goal is to provide you with more tools to design portfolios that will meet your precise needs and the needs of your clients.

HOW CAN
WE HELP?

Through PCCS, we help advisors to clearly define their investment goals, diagnose unintended risks, and design portfolios that offer the potential to more efficiently and consistently achieve desired outcomes. Specifically, our analytics and insights are focused on providing value across four areas:

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STRATEGIC ASSET ALLOCATION

  • Helps you design strategic asset allocations that reflect your specific needs and objectives

  • Demonstrates the value of your strategic asset allocation decisions relative to a reference portfolio

  • Looks through asset classes to provide insight on the underlying risk factors that drive portfolio returns

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TACTICAL ASSET ALLOCATION

  • Access to stress testing and scenario analysis to better understand how your portfolios might perform across a broad range of economic and market scenarios

  • Identifies efficient ways to adjust your portfolio to reflect your active views

  • Shares actionable investment insights from Picton Mahoney’s Investment Team including current market and economic trends, our strategy for the months ahead, and the rationale behind our positioning

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FACTOR ANALYSIS

  • Identifies ways in which you can more efficiently diversify, mitigate or hedge unintended or unrewarded risk factor exposures
     
  • Helps you intentionally manage your exposures to the key risk factors that drive returns in multi-asset portfolios and within specific asset classes 

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EVALUATION OF ALPHA SOURCES

  • We take a quantitative approach in helping you evaluate the hedge funds that you have selected by assessing strategies across multiple dimensions such as quality of return, market, risk, alpha, and portfolio diversification

PORTFOLIO
ALLOCATOR
TOOL

The allocation for a typical balanced portfolio in Canada is 60% equities and 40% fixed income and cash, but has over 93% exposure to equity risk. Balanced, yes. Diversified, no. Use our portfolio allocator tool to visualize the potential impact on the volatility, drawdown and returns of a traditional balanced portfolio when exposure to an equity hedge fund index is added.

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GETTING STARTED

REQUEST A REVIEW

Complete the form below to schedule a review of your portfolio.

Get Started

DISCOVERY CALL

This first call is to develop an understanding of what you are seeking to achieve through the portfolio consulting process (What challenges are you looking to solve for? What is the main goal for the portfolio? Is there a specific outcome you are seeking to achieve?) and determine how the PCCS team can provide insight and create value.

SOLUTION DESIGN

The portfolio is quantitatively analyzed using a suite of proprietary tools.

PRESENTING THE ANALYSIS

The PCCS team presents the analysis and shares insights and ideas to help fortify the portfolio, with the goal of structuring the portfolio so that it may achieve its objectives more efficiently and consistently.

ADDITIONAL REVIEWS

We are committed to building a true partnership and becoming an extension of your team. The PCCS team is available to provide updated analytics along with additional what if analysis for more detailed insight and additional support when you are making changes to your portfolio.

THE PCCS
TEAM

  • ROBERT WILSON,
    CFA, CAIA, CIM

    Head of PCCS
    Email me

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  • MICHAEL WHITE,
    CFA

    Portfolio Manager,
    Multi-Asset Strategies

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  • NEIL SIMONS,

    Portfolio Manager,
    Multi-Asset Strategies

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  • DASHMEET SINGH,
    CFA

    Portfolio Manager &
    Director, Quantitative
    Research/Risk

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  • HIMANSHU YADAV,
    FRM

    Analyst, Risk

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  • PRODUCT ANALYTICS TEAM

    The product analytics team are specialists that conduct in-depth industry research and provide detailed product analysis and comparison reports.

INSIGHTS

Link to PDF on Getting Additional Insight into Portfolio Risk article

All investments carry some element of risk. In the last article in our three-part series, How Well Does Volatility Measure Risk, our Portfolio Construction Consultation Service (PCCS) noted that volatility had become investors’ preferred measure of risk and laid out some of the drawbacks of using volatility alone as a risk measure.

In this article, they describe additional tools investors can use to understand the risks they are taking to mitigate unintended and/or unrewarded risks, and to better understand whether the risks they are taking intentionally are scaled appropriately.

Link to PDF on How Well Does Volatility Measure Risk article

Today, mean-variance analysis has become one of the most important quantitative tools used by the financial industry, and volatility has become the widely accepted standard for measuring and expressing the level of risk in an investment portfolio. In our analysis, we scrutinize this factor measure, highlighting eight reasons why volatility is a poor gauge of risk, especially when used to analyze alternative investments.

Link to PDF of Volatility as a Tax article

Just as effective tax planning can reduce the amount of income tax you pay, effective portfolio construction can reduce the amount of volatility impacting a portfolio.

Link to webinar on Alternative Ideas: Re-positioning your Fixed Income for 2021

In the current interest rate environment, the role of bonds in portfolios is compromised. Government bonds offer very little yield and credit is expensive, so where do advisors go from here?

In our first in a series of Alternative Ideas webinars, Re-Positioning Your Fixed Income For 2021, we discuss alternative income strategies to help advisors fortify their fixed income allocation for 2021. #alternativeideas

Link to webinar on Alternative Ideas: Merger Arbitrage: An Alternative to Income

In today’s near-zero interest rate environment, merger arbitrage strategies can potentially fill a void left by traditional bond holdings in portfolios. Like bonds, merger arbitrage can provide a low risk and low volatility investing experience, but with less interest rate risk if you consider the possibility of a rising rate environment.

In our second in a series of Alternative Ideas webinars, Merger Arbitrage: An Alternative to Income, we navigate merger arbitrage strategies and the world of SPACs to help advisors understand the environment moving forward in 2021. #alternativeideas

Link to PDF of Q1 2021 Investment Review & Outlook article

The combination of unprecedented monetary stimulus, ongoing fiscal support and the end of COVID-related lockdowns can lead to the strongest surge in global economic growth in decades. Central banks have committed to maintaining stimulus even as western economies recover, which could lead to a significant surge in stock markets and other risk assets this year. While equity markets may be “overbought” in the short run, a greater risk to their performance may be an earlier-than-expected surge in inflation once the economic expansion is well underway.

IN THE MEDIA

Picton Mahoney Asset Management Launches New Portfolio Construction Consultation Service for Advisors

By: Business Wire
Published on April 15, 2021

Constructing Resilient Portfolios with Picton Mahoney 

By: Asset TV Canada
Published on April 15, 2021

ABOUT
PICTON MAHONEY 
ASSET MANAGEMENT

Picton Mahoney Asset Management specializes in differentiated investment solutions and rules-based volatility management. Picton Mahoney helps its clients fortify their portfolios based on experience honed over the years through different market cycles and investing environments. 

Founded in 2004 and 100% employee owned, Picton Mahoney is a portfolio management boutique entrusted with approximately $9.0 billion (as at April 30, 2021) in assets under management. Pioneers of Authentic Hedge® investment principles and practices in Canada, the firm offers a full suite of investment solutions, including mutual and alternative funds, to institutional and retail investors across the country.  

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CONTACT
416 955 4108 / service@pictonmahoney.com

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Picton Mahoney Asset Management. 33 Yonge St., Ste. 830, Toronto, Ont. M5E 1G4

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