Highlights Performance drivers included our positions McDermott International Ltd and Hughes Satellite Systems Corp. Detractors included issuers active in producing materials for clean energy industries, including platinum group miner Sibanye Stillwater and rare earths processor MP Materials. We view the sector as a long-term growth industry and continue to build positions here. Portfolio additions included […]
Throughout an intensive 18-week period, Pender hosted a cohort of students in the Junior Achievement British Columbia (JABC) Company Program. With the support of Pender staff, including Founder and Chairman, Kelly Edmison, 14 students created their own company, organized their leadership, designed and developed a product, and determined a marketing strategy to sell it—all with […]
A unique value proposition – what we do and what we don’t do. In this discussion, Parul Garg sheds light on the risk and rewards of investing in stressed and distressed credits in public markets and how the portfolio management team leverages a nimble approach to capitalize on unique opportunities often overlooked by larger funds. […]
PenderFund was honored to sponsor the 18th annual Business Laureates of British Columbia Hall of Fame Gala Dinner and Induction Ceremonies, celebrating the 2024 Laureate Inductees: Anthony von Mandl, K. Barry Marsden, Karen Flavelle and Brian Hill. The Business Laureates of British Columbia Hall of Fame was established by Junior Achievement of British Columbia (JABC) […]
Highlights The Fund initiated positions in 17 new merger deals. Several key deals closed after achieving their final approvals. These included: Tricon Residential Inc, Carrols Restaurant Group, TrueContext Corp and MDF Commerce Inc. Our SPAC exposure will see a pickup during the summer due to SPAC expirations which should drive an increase in redemptions and […]
VANCOUVER, B.C. (TSXV: PTF) Pender Growth Fund Inc. (the “Company” or “PTF”) today announces that one of its significant investees, Copperleaf Technologies Inc. (TSX:CPLF) (“Copperleaf”), has entered into a definitive arrangement agreement (the “Arrangement Agreement”) with Industrial and Financial Systems, IFS AB (“IFS”), pursuant to which IFS has agreed to indirectly acquire all of the […]
Highlights Despite historically expensive valuations at the start of the month, risk assets performed well. The Fund benefitted from several individual long positions where catalysts played out consistent with or even quicker than our initial investment thesis in May. The Fund added to two positions in May where we expect a combination of attractive carry […]
Highlights The Fund enjoyed one of its best performing months in May. Key contributors were Novavax convertible bonds, Fannie Mae preferred shares, Lucid Group Inc., Emergent BioSolutions, and OPKO Health Inc., along with numerous Canadian preferred shares. Two detractors were EchoStar Corp and American Tire Distributors Holdings Inc. The Pender Corporate Bond Fund enjoyed one […]
Expertise and experience, transparency and liquidity. In this episode, we delve into the complex world of public stressed and distressed credit investing. Join Parul Garg for a discussion on investing in stressed and distressed credits in public markets, as held in the Pender Credit Opportunities Fund and in the Pender Corporate Bond Fund. Parul provides […]
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