In July, Toronto-based Picton Mahoney Asset Management launched Picton Mahoney Fortified Income Alternative Fund. The firm also added ETF units to its Fortified Alternative Fund family, which is composed of four funds. Along with the new income fund, that suite includes Picton Mahoney Fortified Active Extension Alternative Fund, Picton Mahoney Fortified Market Neutral Alternative Fund and Picton Mahoney Fortified Multi-Strategy Alternative Fund. The related ETF units of the funds began trading on July 16; the A-, F- and I-class units of the four Fortified Alternative funds continue to be offered as regular mutual funds. For the new mutual fund, advisor commissions on front-end sales are 0%-5%. Trailing commissions are 1%. The management fee is 1.95% for A-class units. The minimum initial investment is $2,000, then $500 for additional investments. The management fee for the ETF versions of the funds is 0.95%.