Special Meeting for certain mutual fund unitholders to be held on November 21, 2025 - Click here to learn more
August was a very active month for the Fund, marked by a burst of new deal activity as well as increased attractiveness in several existing deals that progressed into the final stages of closing. During the month, the Fund initiated positions in 30 new or existing deals while nine deals held within the Fund closed. At the end of August 2025, the Fund held 49 active investments in small cap deals under $2 billion, 36 of
Dear Unitholders, The Pender Alternative Arbitrage Fund and the Pender Alternative Arbitrage Plus Fund were up 0.6% and 0.9%[1] respectively in July 2025 while the HFRI ED: Merger Arbitrage Index (USD) returned 1.1%[2]. Portfolio Update July saw another positive month of performance in the Fund as several key holdings achieved all required regulatory approvals and […]
Dear Unitholders, The Pender Alternative Arbitrage Fund and the Pender Alternative Arbitrage Plus Fund were up 0.4% and 0.7%[1] respectively in June 2025 while the HFRI ED: Merger Arbitrage Index (USD) returned 2.7%[2]. Portfolio Update June was another positive month for the Fund, benefiting from tightening spreads in several key deals held within the Fund. […]
Dear Unitholders, The Pender Alternative Arbitrage Fund and the Pender Alternative Arbitrage Plus Fund were up 1.4% and 1.8%[1] respectively in May 2025 while the HFRI ED: Merger Arbitrage Index (USD) returned 3.04%[2]. Portfolio Update May was another strong month for the Fund, benefiting from tightening spreads and bumps in deals initiated in the Fund […]
Dear Unitholders, The Pender Alternative Arbitrage Fund and the Pender Alternative Arbitrage Plus Fund were up 1.0% and 1.5%[1] respectively in April 2025 while the HFRI ED: Merger Arbitrage Index (USD) returned 0.22%[2]. Portfolio Update In what was one of the most volatile months in markets since the inception of the Fund, the strategy performed […]
Dear Unitholders, The Pender Alternative Arbitrage Fund and the Pender Alternative Arbitrage Plus Fund were 0.13% and -0.27%[1] respectively in March 2025 while the HFRI ED: Merger Arbitrage Index (USD) returned 0.41%[2]. M&A Market Update Global M&A activity surged in the final month of Q1 before stalling due to the mounting trade war with $885 […]
Dear Unitholders, The Pender Alternative Arbitrage Fund and the Pender Alternative Arbitrage Plus Fund were up 0.4% and 0.6%[1] respectively in February 2025 while the HFRI ED: Merger Arbitrage Index (USD) returned 0.7%[2]. M&A Market Update Global M&A activity was over $617 billion in early March in-line with the same period last year[3]. In the […]
Dear Unitholders, The Pender Alternative Arbitrage Fund and the Pender Alternative Arbitrage Plus Fund were up 0.6% and 0.9%[1] respectively in January 2025. The HFRI ED: Merger Arbitrage Index (USD) returned 0.6%[2]. Portfolio Update M&A markets are off to a bang in 2025, driving an active month with the Fund initiating positions in 13 new […]
Highlights There was a pickup in deal activity in December as pent-up demand going into the US election was released. We initiated positions in 16 new merger deals during the month, notably in several small-cap deals trading at high yields. Six deals held within the Fund closed during the period. With SPAC yields falling as […]
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