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 […]
As an owner of a mutual fund that makes distributions, you are entitled to receive these payments. Not all mutual funds make distributions, but many do. If you own one of these funds, from time-to-time, a cash payment or additional fund units will be deposited into your account. This may occur on a monthly, quarterly, […]
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 […]
Highlights: October was a volatile month characterized by sharply lower risk asset prices combined with higher risk-free rates across the curve. We are generally constructive on the bond market heading into the end of the year. In October we continued to find opportunity in discounted longer-tenor opportunities. The Pender Corporate Bond Fund emerged from a […]
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