All Insights

Building puzzles. Geoff Castle hosts Callum Thomas, founder and head of research of Topdown Charts for their annual podcast. Geoff and Callum reflect on 2023 and review which of their December 2022 calls were right, and which were early. They look ahead to 2024 and really dive into a wide range of topics, both fixed […]

Highlights In November we significantly added to our US Treasury Bill holdings as well as high-quality term loans. Our purchases included loans backed by Hilton Worldwide Holdings Inc. (NYSE: HLT), TransDigm Group Inc. (NYSE: TDG) and Four Seasons Holdings Inc. (private). We also topped up long positions in the Canadian dollar high yield market that […]

Highlights: November saw a major turn in bond market direction leading to positive returns throughout the fixed income markets. Investment grade securities staged a huge turnaround and there were some very strong returns amongst higher grade, long-duration securities. New positions include the deeply discounted notes of California-based Stem Inc., a software provider that enables renewable […]

Pender Growth Fund Inc. (the “Company”) today announced its financial and operational results for the three months and nine months ended September 30, 2023. Financial Highlights (Unaudited) Net loss was $97,003 for the three months ended September 30, 2023 (September 30, 2022 – Net loss $8,520,121) primarily the result of negative investment performance in the […]

Highlights October was a tough month for markets as recessionary fears and higher bond yields pressured markets. In October, the Fund initiated positions in 23 new or previously announced mergers, while 20 merger deals held within the Fund closed during the month. We are cautiously optimistic on M&A potential through the year-end with commentary from […]

Pender Growth Fund Inc. (“PGF”; TSXV: PTF) is pleased to announce the addition of Derek Hemmes to its Board of Directors, with immediate effect. With over two decades of entrepreneurial and management experience, Mr. Hemmes brings a wealth of knowledge and expertise to the PGF Board. In 2001 he co-founded one45 Software, where he served […]

Pender Ventures is pleased to announce that InBC Investment Corp. (“InBC”) has made a $10 million investment in the Pender Technology Inflection Fund II (“PTIF II”). InBC is a Crown corporation that manages and invests a $500 million strategic investment fund created by the Province of B.C. to support high-growth businesses and venture capital funds […]

Highlights Both widening credit spreads and higher government yields negatively impacted returns for the month. The Fund increased market exposure with the focus on high-quality, high yield bonds trading at attractive discounts to par. The Fund finished the month with our highest exposure to the market all year - about 80% net long excluding positions […]

VANCOUVER, B.C., November 10, 2023 - PenderFund Capital Management Ltd. (“Pender”) is pleased to announce that the Pender Strategic Growth and Income Fund (the “Fund”) has received an LSEG Lipper Fund Award. The Pender Strategic Growth and Income Fund has been recognized as an LSEG Lipper Fund Awards Canada 2023 Winner and named the best […]