Liquid Alternative Fixed Income
The Pender Alternative Absolute Return Fund is a flexible, high yield focused alternative credit strategy that aims to produce positive absolute returns at all stages of the economic cycle. This low-risk strategy can be used to provide diversification benefits to clients with low correlation to traditional equity and fixed income investments.
As at December 31, 2025. The management expense ratio ("MER") is calculated based on expenses charged to the fund inclusive of applicable taxes including GST and HST (excluding commissions, performance fees and other portfolio transaction costs) and is expressed as an annualized percentage of average net assets for the period/year. The applicable taxes are calculated using the attribution percentage for each province based on unitholder residency.
| Current Yield | 7.55% |
| Yield to Maturity | 7.63% |
| Term to Maturity (years) | 5.53 |
| Modified Duration (years) | 1.86 |
| Class | 1 Mo. | 3 Mo. | 6 Mo. | 1 Yr. | 3 Yr. | 5 Yr. | 10 Yr. | 15 Yr. | Since Inception |
|---|---|---|---|---|---|---|---|---|---|
| A | 0.7% | 0.4% | 0.9% | 1.7% | 4.0% | 4.9% | |||
| A (USD) | 0.7% | 0.6% | 1.2% | 2.8% | 4.8% | 6.0% | |||
| F | 0.8% | 0.7% | 1.4% | 2.7% | 4.9% | 5.6% | |||
| F (USD) | 0.8% | 0.8% | 1.5% | 3.4% | 5.5% | 6.8% |
| Class | Dec'25 | Jan'26 | Feb'26 | Mar'26 | Apr'26 | May'26 | Jun'26 | Jul'26 | Since Inception |
|---|---|---|---|---|---|---|---|---|---|
| A | $0.03 | $0.07 | $0.04 | $0.06 | $0.05 | $0.05 | $0.05 | $0.05 | $3.60 |
| A (USD) | $0.03 | $0.07 | $0.04 | $0.06 | $0.05 | $0.05 | $0.05 | $0.04 | $3.40 |
| F | $0.03 | $0.08 | $0.05 | $0.06 | $0.06 | $0.05 | $0.06 | $0.05 | $4.05 |
| F (USD) | $0.04 | $0.08 | $0.05 | $0.05 | $0.06 | $0.05 | $0.06 | $0.06 | $3.73 |
| # | Security Name | Fund (%) |
|---|---|---|
| 1 | United States Treasury, 0.00%, 03-Nov-26 | 9.1 |
| 2 | Government of Canada, 2.25%, 01-Feb-28 | 7.5 |
| 3 | Sunoco LP, 6.00%, 22-Jun-28 | 6.9 |
| 4 | Hilton USA Trust, Class 'F', Series '16-HHV', 4.33%, 05-Nov-38 | 6.4 |
| 5 | SPDR Bloomberg High Yield Bond ETF | -5.3 |
| 6 | iShares iBoxx High Yield Corporate Bond ETF | -5.9 |
| 7 | Invesco QQQ Trust, Series '1' | -5.9 |
| 8 | iShares Broad USD High Yield Corporate Bond ETF | -6.4 |
| 9 | iShares Russell 2000 ETF | -7.1 |
| 10 | Vanguard S&P 500 ETF | -8.8 |
| Total Percentage of Top 10 Holdings | -9.50 | |
| Total Net Assets of Fund | $657,526,152 | |
| Code | Class | Description | MER | Trailer | Min. Investment Initial/[Subsequent] |
|---|---|---|---|---|---|
| PGF 2040 | A | Front End - HNW | 2.20 | 0.85 | $500/[$] |
| PGF 2041 | A (USD) | Front End - HNW | 2.26 | 0.85 | $500/[$] |
| PGF 2050 | F | Fee Based | 1.25 | $500/[$] | |
| PGF 2051 | F (USD) | Fee Based | 1.27 | $500/[$] |
As at 31-12-2025. The management expense ratio (“MER”) is calculated based on expenses charged to the fund inclusive of applicable taxes including GST and HST (excluding commissions, performance fees and other portfolio transaction costs) and is expressed as an annualized percentage of average net assets for the period/year. The applicable taxes are calculated using the attribution percentage for each province based on unitholder residency.
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 […]
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