Picton Mahoney Tactical Income Fund

Picton Mahoney Tactical Income Fund (the Fund) is a Canada-based closed-end investment fund. The investment objectives of the Fund are to provide unitholders with monthly distributions, preserve capital and mitigate risk with less volatility and less correlation to high-yield and equity markets, and maximize total return to unitholders through distributions and capital appreciation. The Fund's portfolio consists of long and short positions in high-yield and investment grade bonds, Government bonds, convertible bonds, preferred shares and dividend paying equities, with a focus on North American issuers. Its investment in a diversified portfolio of income-producing securities (the Portfolio) is actively managed by the portfolio manager. Picton Mahoney Asset Management is the manager and the portfolio manager of the Fund.