Fonds alternatif liquide

Dear Unitholders, The Pender Alternative Arbitrage Fund and the Pender Alternative Arbitrage Plus Fund were up 0.1% and 0.3%1 in February 2026 while the HFRI ED: Merger Arbitrage Index (USD) returned 0.4%2. M&A Market Update Global M&A continued to build on the momentum from last year with over $850 billion of deal activity announced in […]

Dear Unitholders, The Pender Alternative Absolute Return Fund returned 0.9%1 in February, bringing year to date return to 1.3%. Credit markets were choppy in February as elevated issuance combined with credit concerns about private debt and software companies weighed on performance. The ICE BofA US High Yield Index finished the month with a spread of […]

Market Insights February might be remembered as the month the dreams of AI started to turn into a nightmare.  After a few years in which just mentioning AI in a press release would get you a multiple boost, that suddenly flipped. Fears of AI disrupting business models and destroying jobs across the entire economy took over. […]

Market Update February might be remembered as the month the dreams of AI started to turn into a nightmare.  After a few years in which just mentioning AI in a press release would get you a multiple boost, that suddenly flipped. Fears of AI disrupting business models and destroying jobs across the entire economy took over. […]

Dear Unitholders, The Pender Alternative Arbitrage Fund and the Pender Alternative Arbitrage Plus Fund were both up 0.3%1 in January 2026 while the HFRI ED: Merger Arbitrage Index (USD) returned 0.1%2. M&A Market Update Global M&A opened 2026 with a strong start, with over $310 billion of announced global deal value in January. The tone […]

Dear Unitholders, The Pender Alternative Absolute Return Fund returned 0.4%1 in January. Robust inflows into risk assets drove returns in January, with the first two weeks of the year being particularly strong. The ICE BofA US High Yield Index reached a spread of 264bp Govt OAS mid-month before widening to finish the month at 288bp […]

The Pender Alternative Special Situations Fund returned 12.5%1 in January, outperforming the S&P/TSX Composite, which rose 0.8% during the month. The Fund was well positioned to benefit from strength across the materials complex, where both traditional metals exposure and higher-value critical materials companies contributed meaningfully to performance. In addition, defense remains a core investment theme, […]

Market Insights Many consider the month of January as a good leading indicator of how the year will play out. Well, if this year is going to follow that pattern, we had better all buckle up, as it could be quite the ride. January finished with a whimper as markets fell on the last trading […]

Market Update Momentum is a wonderful thing, and that was seen in abundance in 2025, with global equity markets experiencing their third straight year of strong performance. Of course it wasn’t all smooth sailing, as we now know that nothing with the current leadership in Washington will be easy. That was made abundantly clear in […]