Pender is a proud supporter of Junior Achievement British Columbia, a not-for-profit organization serving B.C. youth for over 65 years. Junior Achievement delivers hands-on, immersive education in work readiness, financial health, and entrepreneurship to the next generation of Canada’s business leaders. Innovation and entrepreneurship are in Pender’s DNA. When we founded Pender in 2003, we […]
VANCOUVER, B.C. (TSXV: PTF) Pender Growth Fund Inc. (the “Company”) announces that it has provided the TSX Venture Exchange (the "TSXV") with its Notice of Intention to make a Normal Course Issuer Bid (the "NCIB") through the facilities of the TSXV, subject to TSXV acceptance. The Company is proposing to put a new NCIB in […]
Highlights January 2023 was the strongest start to the year for credit since 2019 and the second strongest year since 2009. We added or established positions on bonds issued by SECURE Energy Services Inc. (TSX: SES), Superior Plus LP (TSX: SPB) and Keyera Corp. (TSX: KEY). In the new issues market, we participated in bonds […]
Small cap returns come from investing in the higher growth part of the cycle and from greater market inefficiencies Pender has developed a circle of competence in understanding small-cap companies. We launched as a venture capital company investing in private and very small public companies which honed our expertise. We sat on boards and tracked […]
Highlights Most of the holdings of the Pender Corporate Bond Fund rose as lower benchmark yields coincided with narrowing spreads for corporate bonds. Significant performers included positions in discounted convertible bonds as holdings in Eventbrite Inc., Liberty TripAdvisor Holdings, Inc. and Esperion Therapeutics Inc. each gained in excess of 10%. New positions included recycling an […]
VANCOUVER, B.C. PenderFund Capital Management Ltd. (“Pender”) is pleased to provide some updates for clients of our fixed income investment funds. The Pender Bond Universe Fund (the “Fund”) passed its three-year anniversary on January 31, 2023. After reporting strong performance relative to its category in 2021 and 2022, we are pleased to report that 3-year […]
VANCOUVER, January 26, 2023 - PenderFund Capital Management Ltd. (“Pender”) is pleased to announce a successful first close of $50M for the Pender Technology Inflection Fund II (“PTIF II” or “the Fund”). The Fund is managed by Pender Ventures, the technology venture capital arm of Pender. Pender Ventures is targeting $100M for the Fund, and […]
Highlights Our equity exposure to energy companies led the way with Spartan Delta Corp. (TSX: SDE), ARC Resources Ltd. (TSX: ARX), and Texas Pacific Land Corporation (NYSE: TPL) among the top five contributors. Defense contractor Northrup Grumman Corporation (NYSE: NOC) was also among the top contributors. CCL Industries Inc. (TSX: CCL.B) was a detractor however […]
Highlights The Fund had a nice recovery in the fourth quarter with a return of 9.7%. Maxar Technologies Inc. (TSX: MAXR) was a top contributor to the portfolio after private equity firm Advent International made a bid to acquire the company at a large premium. Maxar was a long-term holding in the portfolio, and we […]
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