The importance of innovation, adaptability and resilience. This is the first in a new Pender Ventures podcast series reflecting the scale-up stories of some of the great Canadian technology companies. We kick off with the story of PMC-Sierra, a pioneering and leading semiconductor chipset supplier that specialized in the design and development of integrated circuits […]
As published in The Globe and Mail on September 26, 2024 (for subscribers only). Use low sentiment to your advantage Rush hour traffic is no one’s idea of fun. Studies show idling on crowded roads negatively affects our health and lowers satisfaction with work and life. Likewise, crowded trades are no picnic for advisors who […]
Highlights The Fund has increased exposure to SPACs through participation in new issuances adding exposure to existing SPACs. Equity markets corrected in early August before subsequently recovering. The Fund took advantage of widening spreads by adding to key positions. The Fund initiated positions in 14 new merger deals with 12 deals held within the […]
As published in the AIMA Journal on September 23, 2024 Synergy—the combination of two or more elements to produce a combined effect greater than the sum of their individual parts—has given the world Lennon and McCartney, fish ‘n’ chips, and Dolce & Gabbana. In the realm of investing in stressed and distressed credit, investors have […]
Parul Garg, Pender’s distressed credit expert in default securities, reorganizations and recapitalizations, discusses the impending catalysts for generating meaningful alpha in distressed debt in the next 3-to-5 years, and how a public credit strategy complements investing in private credits. She explains the various approaches to creating value and managing risk in both the Pender Credit […]
Highlights Market returns were driven by a combination of positive carry, narrowing spreads and lower base government bond yields. Short positions in credit were detractors on the portfolio. Contributors to the Fund included a position in Legends Hospitality 5% 2026 bonds, and from several new issues in Canadian and US high-yield markets at particularly attractive […]
VANCOUVER, B.C., September 10, 2024 - PenderFund Capital Management Ltd. (“Pender”) is marking the three-year anniversary of the launch of its Liquid Alternative suite of funds. These funds provide clients with access to diversification beyond traditional asset classes and complement Pender’s fixed income, equity and balanced fund line-up. Launched in 2021, our liquid alternative funds […]
Highlights Key performance contributors included convertible bonds in Revance Therapeutics Inc., OPKO Health Inc., and Cineplex Inc. Key detractor was Stem Inc. We added weight to several lines of existing credits including Crowdstrike Holdings Inc, which we consider an extremely strong credit, and to our existing holdings of Canadian real return bonds. The Pender Corporate […]
Our beautiful beaches are a vital part of our community. We wanted to help keep them clean and pristine so we organized a Beach Cleanup Day when lots of Pender people met up to clean up! We really wanted to enjoy a day out with colleagues in the summer sun, but we wanted to do something […]
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