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Shell Summary for March 12, 2020

2020-03-12 20:48 ET - Market Summary

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by Stockwatch Business Reporter

The TSX Venture Exchange fell 46.21 points to 392.63 Thursday, dipping below 400 for the first time since the exchange was created in 2001. Amidst this not-so-gentle decline, we have a new qualifying transaction to discuss: Adam Rock's capital pool shell, Arkadia Capital Corp. (AKC: suspended), plans to acquire AlphaDelta Management Corp. The QT terms are not yet available, but the shell intends to roll back at a ratio between 1 for 10 and 1 for 25.

AlphaDelta was formed in 2014 in Vancouver. Its business may be a tough sell in the present market: It creates and promotes investment funds. It offers four kinds of actively managed mutual funds under a trademarked name, Actually Active. AlphaDelta explains that unlike some other funds, its own funds do not simply mirror the relevant benchmarks. AlphaDelta's funds are run by Qwest Investment Management Corp., a Vancouver investment management firm.

Qwest launched three AlphaDelta funds in 2015: AlphaDelta Canadian Momentum Equity Class Fund, AlphaDelta Growth of Dividend Income Class Fund and AlphaDelta Tactical Growth Class Fund. AlphaDelta Management, of course, points out that its funds are in positive territory (or at least they were as of Dec. 31, 2019, long before the COVID-19 troubles arose). Canadian Momentum Equity has two share classes; one is up 5.8 per cent since inception, while the other is up 4.7 per cent. As for Growth of Dividend Income, its two share classes are up 5.4 and 4.9 per cent. As for Tactical Growth, its two share classes are up 7.1 and 5.9 per cent. The fourth Actually Active fund, AlphaDelta Canadian Growth of Dividend Income Class Fund, appears to be new. It has no performance data yet.

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