All Insights

Another month is in the books along with another move to all-time highs for many equity indices. The strength of this bull market really has been impressive, and the fact no one was calling for it makes it even more enjoyable. Like the Blue Jays, the year began with very low expectations, but all of […]

Amar Pandya spoke with Wealth Professional on M&A activity increasing and signaling renewed optimism in private equity markets, following the US regulatory changes under President Trump. He explains that, "The onerous nature of deals under the past administration resulted in an overall downturn in M&A activity. Now, however, the Trump administration and FTC Chair Andrew […]

  VANCOUVER, B.C., October 31, 2025 - PenderFund Capital Management Ltd. (“Pender”) is delighted to announce that it has been named on the 2025 Best Workplaces in BC list. This honour was bestowed on Pender after thorough, independent analysis undertaken by Great Place to Work®. The list is compiled from direct feedback gathered from employees […]

Dear Unitholders, The Pender Alternative Arbitrage Fund and the Pender Alternative Arbitrage Plus Fund were -0.3% and -0.5% respectively1 in September 2025 while the HFRI ED: Merger Arbitrage Index (USD) returned 0.8%2. Portfolio Update September was another active month for the Fund, characterized by steady deal flow and favourable conditions across both merger and SPAC […]

Dear Co-investors,  Thank you for your continued partnership in the Pender Credit Opportunities Fund. For the quarter the Fund returned 15.2%1, bringing the Fund’s since inception return to 6.8%. The Fund's benchmark2 returned 2.4% for the quarter and 7.1% YTD. We completed two workouts this quarter that meaningfully contributed to results. In this letter, we […]

Vancouver, British Columbia – October 22, 2025 – PenderFund Capital Management Ltd. (“Pender”) announced today that as a result of the Canada Post labour disruption, the special meetings of certain classes of its mutual funds (the “Funds”), originally scheduled for October 31, 2025 have been postponed (the “Postponement”) to November 21, 2025 (the “Meetings”). Pender […]

Market Update It can become somewhat unsettling when it seems everything is working. We normally live in a world of mean reversion and while winning streaks can be fun, they often are followed by a rough patch. That has to be what many investors are feeling these days. Since the ‘Liberation Day’ selloff in April, […]

Dear Unitholders, The Pender Alternative Absolute Return Fund returned 0.0%1 in September, bringing year to date returns to 1.0%. September saw robust risk appetite met with record high yield issuance. The ICE BofA US High Yield Index returned 0.8%, despite giving up some gains in the last week of the month. Spreads tightened by only […]

Market Environment Equity markets extended their gains in September, with major global indices reaching record highs despite ongoing macro and geopolitical uncertainty. In Canada, both large- and small-cap indices posted impressive returns — the S&P/TSX Composite rose 5.4% and the S&P/TSX Small Cap Index gained 9.0% — while in the US, the Russell 2000 advanced […]