This year has been a year of change for the Pender Strategic Growth and Income Fund, formerly the Pender Balanced Fund. As Chief Investment Officer I wanted to write this Manager’s Commentary to inform you […]
Fund Repositioning Upon assuming in-house management of the Pender Corporate Bond Fund in early September, we acted quickly to make a few important changes to the composition of the Fund. We sold a number of […]
The second quarter was met with some volatility in the Canadian markets, but we are glad to report the Fund performed positively. The Pender Small Cap Opportunities Fund returned a positive 3.90%1 vs the benchmark […]
Class A units were down 0.97% during the quarter and were valued at $12.02 at June 30, 2015. IAC/InterActiveCorp, Manulife Financial and Magna International led the equity gainers for the quarter, while TransForce, Fossil Group […]
The end of June was the two year anniversary of the Fund’s inception. We would like to thank all our fellow investors who have participated with us in the early years of this Fund. We […]
The Fund started the year with positive performance, returning 7.26%1 over the last three months, and outperforming its benchmark which returned 6.59%2. Performance was driven by three of our key holdings, Nobilis Health (formally Northstar), […]
The Pender Small Cap Opportunities Fund started the year on a positive note, returning 9.94%1 over the quarter compared to the benchmark return of 2.59%2. Performance was driven by Nobilis Healthcare (formally Northstar Health) and […]
Class A units were up 5.3% during the quarter and were valued at C$12.93 at March 31, 2015. The US All Cap Equity Fund ended the quarter with 21 holdings and a cash weighting of […]
Class A units were up 1.45% during the quarter and were valued at C$12.27 at December 31, 2014. The Fund ended the year with 22 holdings and a cash weighting of 4.4%. During the quarter […]
Our Fund ended the year with an excellent quarter. It was up 13.85%1 compared to 5.48% for the benchmark2. Again, the performance of the Fund was largely driven by the performance of key holdings including […]
The Pender Small Cap Opportunities Fund ended the year with an excellent quarter. It was up 15.05%1 compared to 0.30% for the benchmark2. Again, the performance of the Fund was largely driven by the performance […]
Canadian and US markets were relatively flat during the quarter and the Fund performed similarly. The Fund returned 1.10%1 compared to the benchmark2 returning 2.81%. Returns were predominantly currency gains for both the Fund and […]
Fellow Unitholders, Canadian and US markets were relatively flat during the quarter and the Fund performed similarly. It was down 0.29%1 while the benchmark was down 0.59%2. Volatility creates opportunity for those who are actively […]
Class A units were up 1.6% during the quarter and were valued at C$12.10 at September 30, 2014. The performance was driven by a stronger US dollar. The Fund ended the quarter with 22 holdings […]
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Pender Strategic Growth and Income Fund – Manager’s Commentary – Q3
This year has been a year of change for the Pender Strategic Growth and Income Fund, formerly the Pender Balanced Fund. As Chief Investment Officer I wanted to write this Manager’s Commentary to inform you […]
Manager’s Commentary – Geoff Castle – September 2015
Fund Repositioning Upon assuming in-house management of the Pender Corporate Bond Fund in early September, we acted quickly to make a few important changes to the composition of the Fund. We sold a number of […]
Manager’s Quarterly Commentary – David Barr – Q2 2015 – Pender Small Cap Opportunities Fund
The second quarter was met with some volatility in the Canadian markets, but we are glad to report the Fund performed positively. The Pender Small Cap Opportunities Fund returned a positive 3.90%1 vs the benchmark […]
Manager’s Quarterly Commentary – Felix Narhi – Q2 2015 – Pender Strategic Growth & Income Fund
Class A units were down 0.97% during the quarter and were valued at $12.02 at June 30, 2015. IAC/InterActiveCorp, Manulife Financial and Magna International led the equity gainers for the quarter, while TransForce, Fossil Group […]
Manager’s Quarterly Commentary – David Barr – Q2 2015 – Pender Value Fund
The end of June was the two year anniversary of the Fund’s inception. We would like to thank all our fellow investors who have participated with us in the early years of this Fund. We […]
Manager’s Quarterly Commentary – David Barr – Q1 2015 – Pender Value Fund
The Fund started the year with positive performance, returning 7.26%1 over the last three months, and outperforming its benchmark which returned 6.59%2. Performance was driven by three of our key holdings, Nobilis Health (formally Northstar), […]
Manager’s Quarterly Commentary – David Barr – Q1 2015 – Pender Small Cap Opportunities Fund
The Pender Small Cap Opportunities Fund started the year on a positive note, returning 9.94%1 over the quarter compared to the benchmark return of 2.59%2. Performance was driven by Nobilis Healthcare (formally Northstar Health) and […]
Manager’s Quarterly Commentary – Felix Narhi – Q1 2015 – Pender Strategic Growth & Income Fund
Class A units in the Fund generated a total return of 2.4% during the quarter and were valued at C$12.20 on March 31, 2015.
Manager’s Quarterly Commentary – Felix Narhi – Q1 2015
Class A units were up 5.3% during the quarter and were valued at C$12.93 at March 31, 2015. The US All Cap Equity Fund ended the quarter with 21 holdings and a cash weighting of […]
Manager’s Quarterly Commentary – Felix Narhi – Q4 2014
Class A units were up 1.45% during the quarter and were valued at C$12.27 at December 31, 2014. The Fund ended the year with 22 holdings and a cash weighting of 4.4%. During the quarter […]
Manager’s Quarterly Commentary – David Barr – Q4 2014 – Pender Value Fund
Our Fund ended the year with an excellent quarter. It was up 13.85%1 compared to 5.48% for the benchmark2. Again, the performance of the Fund was largely driven by the performance of key holdings including […]
Manager’s Quarterly Commentary – David Barr – Q4 2014 – Pender Small Cap Opportunities Fund
The Pender Small Cap Opportunities Fund ended the year with an excellent quarter. It was up 15.05%1 compared to 0.30% for the benchmark2. Again, the performance of the Fund was largely driven by the performance […]
Manager’s Quarterly Commentary – David Barr – Q3 2014 – Pender Value Fund
Canadian and US markets were relatively flat during the quarter and the Fund performed similarly. The Fund returned 1.10%1 compared to the benchmark2 returning 2.81%. Returns were predominantly currency gains for both the Fund and […]
Manager’s Quarterly Commentary – David Barr – Q3 2014 – Pender Small Cap Opportunities Fund
Fellow Unitholders, Canadian and US markets were relatively flat during the quarter and the Fund performed similarly. It was down 0.29%1 while the benchmark was down 0.59%2. Volatility creates opportunity for those who are actively […]
Manager’s Quarterly Commentary – Felix Narhi – Q3 2014
Class A units were up 1.6% during the quarter and were valued at C$12.10 at September 30, 2014. The performance was driven by a stronger US dollar. The Fund ended the quarter with 22 holdings […]