The class F units of the Pender Bond Universe Fund were up 1.1%1 in the first quarter of 2026, relatively outperforming their benchmark by 0.9%. As rates moved higher in Canada and the US, High Grade was somewhat weaker over the period as were certain credit holdings including the Fund’s Esperion and Meritage Homes converts. […]
As published in Canadian Family Offices The fund’s manager, Emily Wheeler, outlines her investment strategy, plus her take on interest rates, commodities and the 2026 economy. Family offices face a familiar tension in today’s bond market: how to preserve wealth while still achieving meaningful returns amid uncertainty. Traditional fixed income strategies—once the core of a […]
The class F units of the Pender Bond Universe Fund were up 1.3% over the quarter and 8.0%1 for the year, making 2025 the Fund’s best year on record since inception in 2020. In Q4, the class F units outperformed their benchmark by 1.6% for the quarter and 5.4% on a full year basis. Strength […]
A Market Isn’t Always Just One Thing Forever In this episode, Laura Baker, Associate Portfolio Manager at Pender, sits down with Lead Portfolio Manager, Fixed Income Geoff Castle, Portfolio Manager Emily Wheeler and Associate Portfolio Manager Parul Garg to discuss the recent recognition of two of Pender’s fixed income funds with 2025 LSEG Lipper Fund […]
Class F units of the Pender Bond Universe Fund (the “Fund”) were up 4.7%1 over the quarter, outperforming their benchmark, the FTSE Canada Universe Bond Index, by 3.2%. All portions of the Fund pulled in the same direction this period with our high grade, individual credit lines and Pender Corporate Bond Fund holdings all higher […]
Although outperforming it’s benchmark[1] by 0.2%[2] in Q2, the Class F units of the Pender Bond Universe Fund were down 0.4% over the period. Exposure to Non-Investment Grade securities through our Pender Corporate Bond Fund holdings and several individual credits held, negatively impacted performance this quarter. The Fund’s High-Grade exposure was largely positive over the […]
The Class F units of the Pender Bond Universe Fund were up 2.2%[1] in the first quarter of 2025. The Fund outperformed its benchmark, FTSE/TMX Canada Universe Bond Index, by 0.2% over the period. Almost all of the Fund’s holdings contributed positively in Q1 as the environment for both rates and line-item credit positions was […]
Highlights Positive contributors to the Fund included TXNM Energy 5.75% ’54 convertible bonds via the combination of price appreciation and a competitive coupon, and OPKO Health Inc. 3.75% ’29 convertible bonds. The Fund added Duke Energy’s 4.125% ’26 convertible bonds. With US High Yield spreads significantly below average, we took a cautious disposition toward lower […]
Highlights Positive contributors included OPKO Health Inc. 3.75% 2029 convertible bonds and TXNM Energy Inc. 5.75% 2054 convertible bonds. We extended duration slightly this quarter from 4.74 at June 30 to 5.14 at quarter-end. The three-month return of the Class F units of the Bond Universe Fund was 4.3% to the end of September 2024. […]
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