Fixed Income
The Pender Corporate Bond Fund is an income fund that is both conservatively managed to preserve capital, as well as opportunistic to generate returns. The Fund is focused on key credit characteristics – coverage, seniority and duration. It is driven by bottom up fundamental analysis, the Fund seeks to use its nimble size to invest in opportunities large or index based funds cannot. This advantage could provide investors with an attractive cash yield, while maintaining positions in attractively valued securities that provide a margin-of-safety for investors.
As at June 30, 2026. 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 | 4.83% |
| Yield to Maturity | 5.92% |
| Term to Maturity (years) | 4.40 |
| Modified Duration (years) | 3.35 |
| Class | 1 Mo. | 3 Mo. | 6 Mo. | 1 Yr. | 3 Yr. | 5 Yr. | 10 Yr. | 15 Yr. | Since Inception |
|---|---|---|---|---|---|---|---|---|---|
| A | 1.6% | 0.7% | 2.0% | 15.2% | 12.8% | 7.0% | 7.2% | 6.0% | 6.5% |
| A (USD) | 1.9% | 1.1% | 2.5% | 16.7% | 13.7% | 7.4% | 7.9% | 6.4% | |
| U | 0.9% | 1.5% | 3.8% | 17.9% | 15.2% | 9.7% | 8.9% | ||
| F | 1.6% | 0.9% | 2.3% | 16.0% | 13.9% | 8.1% | 8.3% | 7.3% | |
| F (USD) | 2.0% | 1.3% | 2.8% | 17.6% | 14.8% | 8.4% | 8.6% |
| Class | Jan'26 | Feb'26 | Mar'26 | Apr'26 | May'26 | Jun'26 | Jul'26 | Aug'26 | Since Inception |
|---|---|---|---|---|---|---|---|---|---|
| A | $0.06 | $0.04 | $0.03 | $0.05 | $0.05 | $0.06 | $0.05 | $0.03 | $8.72 |
| A (USD) | $0.05 | $0.03 | $0.03 | $0.04 | $0.05 | $0.05 | $0.05 | $0.03 | $5.43 |
| U | $0.06 | $0.04 | $0.03 | $0.05 | $0.05 | $0.06 | $0.05 | $0.04 | $3.66 |
| F | $0.06 | $0.04 | $0.03 | $0.05 | $0.05 | $0.06 | $0.05 | $0.03 | $6.72 |
| F (USD) | $0.06 | $0.04 | $0.03 | $0.05 | $0.05 | $0.06 | $0.05 | $0.03 | $3.93 |
| # | Security Name | Fund (%) |
|---|---|---|
| 1 | Northern Oil and Gas Inc., 3.625%, 15-Apr-29 | 2.0 |
| 2 | Crescent Energy Co., 2.750%, 15-Mar-31 | 1.8 |
| 3 | Euronet Worldwide, Inc., 0.625%, 1-Oct-30 | 1.7 |
| 4 | Rivian Holdings, LLC, 10.000%, 15-Jan-31 | 1.5 |
| 5 | McDermott International Ltd. | 1.5 |
| 6 | CrowdStrike Holdings, Inc., 3.000%, 15-Feb-29 | 1.4 |
| 7 | First Majestic Silver Corp., 0.375%, 15-Jan-27 | 1.3 |
| 8 | Trulieve Cannabis Corp., 10.500%, 17-Dec-30 | 1.3 |
| 9 | McDermott International Ltd., Term Loan, 31-Dec-27 | 1.3 |
| 10 | Total Play Telecomunicaciones, S.A.P.I. de C.V., 11.120%, 31-Dec-32 | 1.3 |
| Total Percentage of Top 10 Holdings | 15.10 | |
| Total Net Assets of Fund | $5,353,741,885 | |
| Code | Class | Description | MER | Trailer | Min. Investment Initial/[Subsequent] |
|---|---|---|---|---|---|
| PGF 500 | A | Front End | 1.74 | 0.65 | $500/[$] |
| PGF 501 | A (USD) | Front End | 1.75 | 0.65 | $500/[$] |
| PGF 518 | U | Fee Based | 1.00 | $500/[$] | |
| PGF 550 | F | Fee Based | 1.03 | $500/[$] | |
| PGF 551 | F (USD) | Fee Based | 1.04 | $500/[$] |
As at 30-06-2026. 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.
The Pender Corporate Bond Fund finished a volatile May with a NAV total return of approximately -0.7%[1]. Lower bond prices in the portfolio more than offset the growing level of current income in the Fund that has reached its highest level since the spring of 2020. Download PDF There were several bright spots in the […]
Only available in EnglishThe Pender Corporate Bond Fund returned -1.6%1 in April. In a tough market, the Fund continued its streak of outperforming its benchmark and category. Download PDF In a market without many bright spots, we benefitted from a few. Continued optimism around the prospective end of the conservatorship of the Government-Sponsored Enterprises (GSEs) led to further […]
Only available in EnglishThe Pender Corporate Bond Fund returned -0.4%[1] in March. While we never celebrate losses, it is worth noting that the Fund’s monthly loss was less than a third of that of the high yield index for the same period and over two percentage points above the Canadian bond universe. In short, it was a volatile […]
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