Fonds d’obligations de sociétés Pender

The Pender Corporate Bond Fund enjoyed a positive month in April, returning 1.5%1 for the period. This return was within the context of generally strong credit market conditions as expanding global growth and expectations for a relatively quick end to the Iran conflict buoyed prices. Leading the way for the Fund was our position in […]

The late February initiation of hostilities in the Persian Gulf augured in a challenging month for the Pender Corporate Bond Fund, which ended March down -2.2%1. The market reacted to the US-led Iran bombing campaign by widening spreads in corporate credit and pushing benchmark yields higher across the curve, effects which impacted Fund holdings. A […]

The Pender Corporate Bond Fund enjoyed a successful February, posting a total return of 2.2%1. The broader market context included strength in investment grade benchmarks, which advanced over 1%, and weaker high yield credit which delivered negative total returns on spread-widening. The Fund’s highest returning securities in February were convertible bond positions in the mining […]

The Pender Corporate Bond Fund had a good start to the year, delivering a 2.1%1 return in January, which was significantly ahead of investment grade and high yield benchmark returns over the same period. The month saw strength from a diversified group of holdings. Leading the way for us was our position in convertible notes […]

The Pender Corporate Bond Fund recorded a positive result in December, returning 0.3%1. The period was characterized by positive credit returns offsetting the effect of rising benchmark interest rates. For the full year 2025, the Fund returned 13.4%, a happy outcome driven primarily by security selection as opposed to benchmark performance, which was markedly lower. […]

The Pender Corporate Bond Fund enjoyed a profitable November, returning 1.1%1. The Fund outperformed peers for the period in a credit market that offered relatively muted returns. Leading the way for the Fund were our positions in precious metals, including convertible notes of miners Equinox Gold and Sibanye Stillwater, which rallied on underlying strength in […]

The Pender Corporate Bond Fund posted a solid October, returning 2.2%1 within the context of a positive movement for high grade bonds and a neutral market for credit risk assets. The top Fund contributor in October was the successful workout of our position in Beyond Meat Inc., which is discussed in greater detail below. Other […]

The Pender Corporate Bond Fund had a historic September, gaining 4.8%1, as a number of drivers led to the Fund’s best one-month performance since inception. Precious metals holdings again led the Fund’s returns in September, as eight of our holdings in the sector delivered double-digit gains. Our convertible notes in platinum group metals miner, Sibanye […]

Le mois d’août a été excellent pour le Fonds d’obligations de sociétés Pender qui a dégagé un gain de 2,4 % dans un contexte propice aux rendements. En août, nos positions dans le secteur des métaux précieux ont tiré profit d’une vigueur généralisée. La première place est revenue aux titres convertibles d’Equinox Gold Corp. qui ont progressé de plus de 20 % […]