Market Update One phrase that I feel is true more often than not is, “markets will do what makes the most people wrong". This August seems to have captured that phrase perfectly. During what is normally one of the quietest and most volatile parts of the calendar, anyone who stepped to the sidelines missed one […]
Dear Unitholders, The Pender Alternative Absolute Return Fund returned -0.3%1 in August, bringing year-to-date return to 1.5%. A sharp rebound in risk assets that started in late July fizzled out in the middle of the month. Low issuance and low engagement in a late summer market helped support both credit and equity markets. Developing macro headwinds […]
Greg Taylor, CIO, joined BNN Bloomberg's The Close to talk markets, making the case for near-term volatility as oil and diesel prices keep inflation elevated ahead of this week's Fed decision, and explaining why he's playing the AI theme indirectly, through power infrastructure and uranium producers rather than betting on any single model or company. […]
As published in The Globe and Mail, The Mover Greg Taylor, CIO and Portfolio Manager of the Pender Alternative Select Equity Fund is marking the 5 year anniversary of the Fund with a five year annualized return of 18%. Today he was featured in The Globe and Mail's "The Mover" column and talked about how he's […]
Dear Unitholders, The Pender Alternative Arbitrage Fund and the Pender Alternative Arbitrage Plus Fund were 0.0%1 in July 2026 while the HFRI ED: Merger Arbitrage Index (USD) returned -0.4%2. M&A Market Update Global M&A activity remained near record levels through July despite some moderation from the exceptional pace of May and June. Approximately $3.19 trillion […]
Market Update July continued the themes of a summer of uncertainties, as global events continue to shape the macroeconomic backdrop, creating new opportunities as well as risks for investors. As the month came to a close, investors remained cautious as US-Iran tensions escalated, and once again shipping through the Strait of Hormuz came to an […]
The Pender Alternative Special Situations Fund returned -6.4%1 in July, compared to the S&P/TSX Composite, which rose 1.2% during the month. Fund Specific Updates July was a challenging month for the Fund, as our holdings in two of our key thematics (space/defense and critical minerals) underperformed. MDA Space Ltd. (MDA), Telesat Corp. (TSAT) and Kraken […]
VANCOUVER, B.C., August 24, 2026, PenderFund Capital Management Ltd. ("Pender") today announced its intention to terminate the Pender Alternative Arbitrage Fund (the "Fund") on or about October 30, 2026 (the "Termination Date"). Unitholders will not be required to take any action in connection with the termination of the Fund. Effective today, the Manager has suspended the right of unitholders to redeem their […]
Market Insights At various points during July, it started to feel like markets were finally going to break. After months of defying negative headlines and ominous signals, this seemed to be the window for the correction many had been waiting for. Yet, it never really played out that way. As usual the bond market caught […]
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