Liquid Alternative Equity
The Pender Alternative Arbitrage Plus Fund aims to produce consistent and low volatility absolute returns by investing primarily in merger arbitrage opportunities. This low-risk strategy aims to enhance returns by using leverage and 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.
| Class | 1 Mo. | 3 Mo. | 6 Mo. | 1 Yr. | 3 Yr. | 5 Yr. | 10 Yr. | 15 Yr. | Since Inception |
|---|---|---|---|---|---|---|---|---|---|
| A | -0.1% | -0.7% | -1.6% | -2.1% | 2.2% | 1.8% | |||
| F | 0.0% | -0.4% | -1.1% | -1.2% | 3.3% | 3.1% |
| Class | Dec'22 | Dec'24 | Dec'25 | Since Inception | |
|---|---|---|---|---|---|
| A | $0.02 | $0.03 | $0.79 | $0.84 | |
| F | $0.02 | $0.00 | $0.72 | $0.74 |
| # | Security Name | Fund (%) |
|---|---|---|
| 1 | Crinetics Pharmaceuticals, Inc. | 4.8 |
| 2 | MAK Acquisition Corp. | 3.9 |
| 3 | Simulations Plus, Inc. | 3.4 |
| 4 | Andrew Peller Limited | 3.3 |
| 5 | Laurentian Bank of Canada | 3.2 |
| 6 | Bel Fuse Inc. | 3.1 |
| 7 | Drugs Made In America Acquisition II Corp. | 2.9 |
| 8 | Artius II Acquisition Inc. | 2.8 |
| 9 | DT Cloud Star Acquisition Corporation | 2.8 |
| 10 | First Capital Real Estate Investment Trust | 2.8 |
| 11 | Patrick Industries, Inc. | -0.9 |
| 12 | The Brink's Company | -0.9 |
| 13 | Transocean Ltd. | -0.9 |
| 14 | First Financial Bancorp. | -1.0 |
| 15 | Global Net Lease, Inc. | -1.2 |
| 16 | iShares Bitcoin Trust ETF | -1.7 |
| 17 | Bel Fuse Inc. | -3.8 |
| 18 | Canadian Treasury Bill, 0.000%, 09-Sep-2026 | -8.9 |
| 19 | United States Treasury Bill, 0.000%, 03-Dec-2026 | -14.4 |
| 20 | United States Treasury Bill, 0.000%, 03-Sep-2026 | -18.6 |
| Total Percentage of Top 10 Holdings | 33.00 | |
| Total Net Assets of Fund | $33,510,194 | |
| Code | Class | Description | MER | Trailer | Min. Investment Initial/[Subsequent] |
|---|---|---|---|---|---|
| PGF 2200 | A | Front End | 3.77 | 0.85 | $500/[$] |
| PGF 2250 | F | Fee Based | 2.50 | $500/[$] |
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.
Highlights The Fund initiated positions in 20 new or previously announced mergers, while nine merger deals held within the Fund closed during the month. Performance was impacted by a regulatory challenge to a merger deal held by the Fund and the widening of spreads in certain other deals driven by regulatory approval delays and extensions […]
Only available in EnglishHighlights: July was an active month for the Fund as we continued to harvest returns from closed merger deals and reinvest that capital in new mergers. Merger arbitrage spreads continued to remain at wide levels in July following an expansion of spreads in June with some key catalysts on larger merger deals resulting in a […]
Only available in EnglishHighlights June was a good month for the Fund as it harvested returns from several closed merger deals, which we added to at wider spreads in May. The Fund took advantage of recent volatility to bring net exposure to nearly 100%, the highest level this year. The Fund initiated positions in seven new or previously […]
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