Fixed Income
The Pender Bond Universe Fund is an income fund with an investment grade focus. The objective of the Fund is to preserve capital and generate returns through current income and capital appreciation. The Fund invests primarily in investment grade fixed income securities. This, however, does not preclude the Fund from making equity investments when the Portfolio Manager deems the risk/reward trade-off to be in the investors’ favor.
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 | 4.04% |
| Yield to Maturity | 4.49% |
| Term to Maturity (years) | 5.43 |
| Modified Duration (years) | 4.39 |
| Class | 1 Mo. | 3 Mo. | 6 Mo. | 1 Yr. | 3 Yr. | 5 Yr. | 10 Yr. | 15 Yr. | Since Inception |
|---|---|---|---|---|---|---|---|---|---|
| A | -1.0% | -0.6% | -0.7% | 5.7% | 6.8% | 2.8% | 3.4% | ||
| F | -0.9% | -0.4% | -0.3% | 6.5% | 7.4% | 3.4% | 3.9% | ||
| F (USD) | -0.8% | -0.2% | -0.2% | 7.7% | 8.6% | 6.6% |
| Class | Dec'25 | Jan'26 | Feb'26 | Mar'26 | Apr'26 | May'26 | Jun'26 | Jul'26 | Since Inception |
|---|---|---|---|---|---|---|---|---|---|
| A | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.03 | $0.04 | $0.03 | $1.97 |
| F | $0.02 | $0.03 | $0.02 | $0.03 | $0.03 | $0.03 | $0.04 | $0.03 | $2.26 |
| F (USD) | $0.02 | $0.03 | $0.02 | $0.03 | $0.03 | $0.03 | $0.05 | $0.04 | $1.50 |
| # | Security Name | Fund (%) |
|---|---|---|
| 1 | Pender Corporate Bond Fund | 19.1 |
| 2 | United States Treasury, 3.500%, 15-Feb-33 | 6.7 |
| 3 | McDonald's Corporation, 4.857%, 21-May-31 | 6.4 |
| 4 | Waste Management of Canada Corporation, 3.944%, 15-July-33 | 5.4 |
| 5 | Loblaw Companies Limited, 4.488%, 11-Dec-28 | 5.0 |
| 6 | AppLovin Corporation, 5.375%, 01-Dec-31 | 3.6 |
| 7 | Government of Canada, Real Return, 4.000%, 01-Dec-31 | 3.5 |
| 8 | Fairfax Financial Holdings Limited, 3.950%, 03-Mar-31 | 3.3 |
| 9 | VeriSign, Inc., 2.700%, 15-Jun-31 | 3.0 |
| 10 | Government of Canada, Real Return, 3.000%, 01-Dec-36 | 2.7 |
| Total Percentage of Top 10 Holdings | 58.70 | |
| Total Net Assets of Fund | $273,603,645 | |
| Code | Class | Description | MER | Trailer | Min. Investment Initial/[Subsequent] |
|---|---|---|---|---|---|
| PGF 1400 | A | Front End | 1.18 | 0.50 | $500/[$] |
| PGF 1410 | F | Fee Based | 0.64 | $500/[$] | |
| PGF 1411 | F (USD) | Fee Based | 0.68 | $500/[$] |
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 A strong March characterized by strength in credit lifted the Fund into positive territory for the quarter ended March 31, 2024. Key contributors included Occidental Petroleum and OPKO Health. Currently the Fund has a 22% weight in non-investment grade holdings achieved though exposure to the Pender Corporate Bond Fund units along with select non-IG […]
Highlights The past quarter was characterized by a strong bond market reaction to the disinflationary trend. Longer dated, high grade bonds were the strongest contributors to performance. Favourable performers included Warner Brothers Discovery Inc. (2062), and US TIPS (2052). The Fund’s exposure to credit (via Pender Corporate Bond Fund) remains lower relative to historic weightings. […]
Only available in EnglishHighlights We reduced the Fund’s weight in several, shorter-dated, high-quality corporate issuers and government bonds and re-allocated proceeds to longer-dated holdings, including Warner Brothers Discover 5.391% ’62. The Fund’s position in Inflation-Linked Bonds was slightly higher at quarter end. Exposure to credit via Corporate Bond Fund holdings remains lower relative to historic weightings. Over the […]
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