The Securities Commission has decided to grant an exemption to Picton Mahoney Asset Management (PMAM), the investment fund manager of the Picton Mahoney Fortified Core Bond Fund, from the requirement under subsection 2.1(2) of National Instrument 81-101 Mutual Fund Prospectus Disclosure (NI 81-101). This subsection typically prohibits the filing of a prospectus more than 90 days after the receipt date of the preliminary prospectus. The exemption is conditional upon the prospectus being filed no later than November 9, 2022. This decision is based on the information and representations provided in PMAM’s application and is intended to facilitate the issuance of a receipt for the Fund’s prospectus. The regulatory framework for this exemption is section 6.1 of NI 81-101, which allows for exemptive relief applications in certain circumstances.
