Geoff Castle is the Portfolio Manager of the Pender Corporate Bond Fund, a role he assumed in September, 2015.
Geoff’s experience as a professional investor spans two decades. His area of expertise is in fundamental business analysis and valuation. As a fixed income manager, Geoff’s focus has been on seeking enhanced yield or price appreciation opportunities in situations where substantial margins of safety exist. In both 2018 and 2019 the Pender Corporate Bond Fund was recognised with a Lipper Fund Award, which is awarded for superior risk-adjusted returns.
Geoff’s philosophy in the current low yield environment involves controlling risk through careful consideration of credit duration and fixed charge coverage, and the fair valuation of each security class on an as-liquidated basis. Geoff also has been an active proponent of the use of objective, market- and fundamentals-derived risk measurement systems, which he believes are more useful than agency credit ratings.
Geoff began his investing career in 2000 and has experience in both public mutual funds and proprietary investment fund management for ultra-high net worth individuals. From 2000 to 2007 Geoff was a senior analyst and co-manager at Burlington-based AIC Ltd. His experience in credit analysis began with experience gained at Vancouver-based Powerex Corp where he focused on evaluating the creditworthiness of counterparties in the North American energy industry and was active in reviewing credit provisions of high value, long-term custom energy trading contracts. Before joining Pender in 2015, he spent four years at the family office of a Vancouver-based high net worth individual where he managed fixed income and equity investments.
Geoff holds a Bachelor of Arts degree from UBC (1989) and a Master of Business Administration from the Richard Ivey School of Business at the University of Western Ontario (1996). In 1996 he joined global top-tier strategy consulting firm, Bain & Co where he spent four years advising clients on issues relating to mergers and acquisitions, strategic cost analysis, and capital expenditure optimization. He is a member of the CFA Institute
You can listen to Geoff talk about how his experience informs his approach to investing and credit markets, and how he navigates the challenges and opportunities within fixed income on this Pender podcast.