Picton Mahoney Tactical Income Fund

The investment objectives are i to provideholders of Units Unitholders with monthlydistributions ii to preserve capital andmitigate risk with less volatility and lesscorrelation to highyield and equity marketsand iii to maximize total return to Unitholdersthrough distributions and capital appreciationin each case through exposure to a diversiedportfolio of income producing securities whichwill be actively managed by the InvestmentManager.