Company Overview - Picton Mahoney Asset Management is a portfolio management boutique founded in 2004 and is 100% employee-owned [3] - The firm specializes in differentiated investment solutions and rules-based volatility management, helping clients fortify their portfolios through various market cycles [2] - As of November 30, 2025, Picton Mahoney manages over $16.5 billion in assets [3] Recent Announcement - On December 16, 2025, Picton Mahoney announced a cash distribution of $0.1281 per unit for the ETF units of the PICTON Market Neutral Equity Alternative Fund [1] - Unitholders of record as of December 22, 2025, will receive this cash distribution payable on December 31, 2025 [1]

Group 1 - Picton Mahoney Asset Management declared a quarterly cash distribution of $0.1180 per unit for the ETF units of the PICTON Income Fund, payable on December 31, 2025, to unitholders of record as of December 22, 2025 [1] - The firm specializes in differentiated investment solutions and rules-based volatility management, helping clients strengthen their portfolios through various market cycles [2] - As of November 30, 2025, Picton Mahoney manages over $16.5 billion in assets and offers a full suite of investment solutions, including mutual and alternative funds [3]

Core Insights - WEBs Investments Inc. has announced updated fund names for its Defined Volatility ETF suite to provide clearer insights into each fund's underlying exposure [1][3] Fund Structure and Strategy - The Defined Volatility ETFs utilize a systematic, rules-based approach that adjusts exposure to major ETFs based on real-time market volatility, increasing exposure when volatility is low and reallocating to cash equivalents or U.S. Treasuries when volatility is high [2] - This adaptive framework aims to help investors manage risk while maintaining market participation through varying conditions [2] Fund Name Changes - The following fund name changes have been implemented: - WEBs SPY Defined Volatility ETF (formerly WEBs Defined Volatility SPY ETF) - WEBs QQQ Defined Volatility ETF (formerly WEBs Defined Volatility QQQ ETF) - WEBs Real Estate XLRE Defined Volatility ETF (formerly WEBs Defined Volatility XLRE ETF) - WEBs Utilities XLU Defined Volatility ETF (formerly WEBs Defined Volatility XLU ETF) - WEBs Communication Services XLC Defined Volatility ETF (formerly WEBs Defined Volatility XLC ETF) - WEBs Technology XLK Defined Volatility ETF (formerly WEBs Defined Volatility XLK ETF) - WEBs Financial XLF Defined Volatility ETF (formerly WEBs Defined Volatility XLF ETF) - WEBs Health Care XLV Defined Volatility ETF (formerly WEBs Defined Volatility XLV ETF) - WEBs Consumer Staples XLP Defined Volatility ETF (formerly WEBs Defined Volatility XLP ETF) - WEBs Consumer Discretionary XLY Defined Volatility ETF (formerly WEBs Defined Volatility XLY ETF) - WEBs Industrials XLI Defined Volatility ETF (formerly WEBs Defined Volatility XLI ETF) - WEBs Materials XLB Defined Volatility ETF (formerly WEBs Defined Volatility XLB ETF) - WEBs Energy XLE Defined Volatility ETF (formerly WEBs Defined Volatility XLE ETF) [3] Company Background - WEBs Investments Inc. is an investment adviser registered with the U.S. Securities and Exchange Commission, focused on developing innovative strategies to democratize access to institutional-caliber investment solutions [5] - The company was founded in 2024 by ETF industry veterans, emphasizing a commitment to innovative investment strategies [5]

Group 1: WEBs Investments and Defined Volatility ETFs - WEBs Investments has launched a suite of 13 defined volatility ETFs designed to dynamically adjust market exposure based on real-time volatility [2] - The ETFs utilize sector SPDR ETFs and apply a mechanical, rules-based process to adjust exposure daily based on realized market volatility [2][3] - The strategy is tax-efficient and aims to assist investors with a multi-year horizon, complementing traditional equity allocations with a volatility-aware approach [3] Group 2: Alger's Investment Philosophy and Market Insights - Alger's investment philosophy focuses on "positive dynamic change," leveraging innovation driven by AI, robotics, and digital disruption [4] - Elevated market valuations are viewed as potential long-term opportunities, particularly with an active management approach that considers intangible assets and future earnings potential [5] - Due diligence is emphasized in the active ETF space, with a recommendation for investors to evaluate ETFs with the same rigor as mutual funds, focusing on team, process, philosophy, and performance [5]