Picton Mahoney Fortified Alpha Alternative Fund

The investment objective of the Picton Mahoney Fortified Alpha Alternative Fund is to provide consistent long-term capital appreciation to unitholders with an attractive risk-adjusted rate of return. The Fund invests globally in long and short positions in equity securities, fixed income securities including high yield securities, distressed debt, floating rate loans, senior loans and unsecured loans special purpose acquisition companies, master limited partnerships, derivatives such as options, futures, forward contracts, swaps, commodity derivatives, volatility-linked derivatives, currencies, securities of investment funds, cash and cash equivalents.