Toronto-based Picton Mahoney Asset Management has added a new fund to its Fortified Alternative lineup, and is now offering the funds in ETF versions.

The firm announced on Tuesday the launch of the Picton Mahoney Fortified Income Alternative Fund. The new fund aims to maximize total return for unitholders through “income and capital appreciation while mitigating capital loss through shorting and other hedging strategies,” Picton Mahoney said in a release.

The firm also announced that all four of its Fortified Alternative Funds are now available in ETF versions, in addition to class A, F and I mutual fund securities.

“We recognize the need for Canadian investors to have choice in how they invest in and access differentiated solutions that can fortify their portfolios,” David Picton, president and portfolio manager at Picton Mahoney, said in a statement.

The funds use a proprietary rules-based strategy designed to mitigate downside exposure while seeking to build long-term wealth, regardless of market conditions, according to the release.