Market Insights The month of May felt an awful lot like April, and it’s not just the weather. April was a positive month that saw equity markets recover most, if not all, of the March losses stemming from the US-Iran war concerns. Turning the calendar over to May, many market observers were calling for more […]
Dear Unitholders, The Pender Alternative Absolute Return Fund returned -0.4%1 in May, bringing year to date return to 0.7%. Euphoric market conditions continued in May, as ever-increasing AI spending was celebrated by investors. Fixed income continued to lag as an uptick in US inflation and the ongoing disruption to energy markets proved to be a […]
The Pender Alternative Special Situations Fund returned 1.1%1 in May, compared to the S&P/TSX Composite, which rose 2.5% during the month. Like most months this year, May brought heightened volatility driven by inflation concerns and geopolitical uncertainty. Heading into the month, there were concerns that equity markets were due for a pause. However, once again […]
Market Update The month of May felt an awful lot like April, and it’s not just the weather. April was a positive month that saw equity markets recover most, if not all, of the March losses stemming from the US-Iran war concerns. Turning the calendar over to May, many market observers were calling for more of a pause. The […]
Market Update The equity market rally that closed out the month of March continued through April. This rally has baffled many and is becoming a notable example of what is referred to as the ‘pain trade’. Given recent headlines, many investors had gone defensive. Yet, against all odds, markets finished the month near all-time highs. […]
The Pender Alternative Special Situations Fund returned 9.2%1 in April, compared to the S&P/TSX Composite, which returned 3.8% during the month. Markets remained highly volatile in April as investors continued to navigate the aftereffects of the sharp geopolitical and macroeconomic repricing that defined the first quarter. While energy markets partially stabilized following the fragile ceasefire […]
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 Arbitrage Fund and the Pender Alternative Arbitrage Plus Fund were -0.1% and 0.0%1 respectively in April 2026 while the HFRI ED: Merger Arbitrage Index (USD) returned 2.3%2. M&A Market Update Global M&A activity continued at its near historic record pace with over $1.8 trillion of global deal activity through the […]
Market Insights The equity market rally that closed out the month of March continued through April. This rally has baffled many and is becoming a notable example of what is referred to as the ‘pain trade’. Given recent headlines, many investors had gone defensive. Yet against all odds markets finished the month near all-time highs. […]
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