Fonds alternatif à rendement absolu Pender

Dear Unitholders, The Pender Alternative Absolute Return Fund returned -2.0%1 in April, bringing year to date return to 1.1%. The exceptionally strong bid for risk despite the ongoing and worsening disruption to global energy markets was a difficult set up for the Fund. Credit markets tapped out early in April even as equities continued to […]

Dear Unitholders, The Pender Alternative Absolute Return Fund returned 1.8%1 in March, bringing year to date returns to 3.1%. The United States and Israel launching a war against Iran was the dominant market event, with inflation concerns pushing yields higher. Risk premiums also re-rated modestly higher, resulting in a negative month for risk assets including […]

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 […]

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 […]

Dear Unitholders, The Pender Alternative Absolute Return Fund returned 0.5%1 in December, bringing year to date returns to 2.2%. The bid for risk in late November continued into December with equity indices, excluding Nasdaq hitting new all-time highs. The high yield market produced another positive month with the ICE BofA Index seeing spreads compress by […]

Dear Unitholders, The Pender Alternative Absolute Return Fund returned 0.7%1 in November, bringing year to date returns to 1.7%. Market volatility picked up in November, driven by high issuance and concern around the business models of certain segments of the AI industry. A strong final week supported by US Thanksgiving and limited investor engagement allowed […]

Dear Unitholders, The Pender Alternative Absolute Return Fund returned -0.3%1 in October, bringing year-to-date returns to 0.7%. October was a choppier month for markets, with weakness early in the month, a bounce in the middle and a weaker tone late in the month following a hawkish turn from the Fed.  The high yield market had […]

Dear Unitholders, The Pender Alternative Absolute Return Fund returned 0.0%1 in August, bringing year to date returns to 1.0%. August was an encouraging month for risk assets, the catalyst being Jerome Powell’s speech at Jackson Hole with more than half of the 7% monthly return of the Russell 2000 Index coming on August 22, the […]

Le Fonds alternatif à rendement absolu Pender a affiché un rendement de 0,3 %[1][1] en juillet pour un cumul annuel de 1,0 %. En juillet, les écarts se sont resserrés et les rendements absolus ont été positifs sur les marchés du crédit. Cependant, vers la fin du mois, des signes d’essoufflement sont apparus lorsque les niveaux […]