Macro Backdrop US markets were dominated by macro headlines in September. The government shutdown entered its first week with partisan gridlock, though behind the scenes there are signs of agreement emerging around extending enhanced subsidies for Affordable Care Act (ACA) health-insurance plans. At the same time, the Institute of Supply Management’s services index fell back […]
September was another positive month for equities, with markets pushing to record highs despite ongoing macro uncertainty. In Canada, both the TSX Composite and TSX Small Cap Index reached new highs, while US small caps joined the rally with the Russell 2000 up 4.5% in September. US small caps gained ~15% (CAD) in Q3 vs. […]
Class F units of the Pender Bond Universe Fund (the “Fund”) were up 4.7%1 over the quarter, outperforming their benchmark, the FTSE Canada Universe Bond Index, by 3.2%. All portions of the Fund pulled in the same direction this period with our high grade, individual credit lines and Pender Corporate Bond Fund holdings all higher […]
The Pender Corporate Bond Fund had a historic September, gaining 4.8%1, as a number of drivers led to the Fund’s best one-month performance since inception. Precious metals holdings again led the Fund’s returns in September, as eight of our holdings in the sector delivered double-digit gains. Our convertible notes in platinum group metals miner, Sibanye […]
Vancouver, British Columbia – October 1, 2025 – PenderFund Capital Management Ltd. (“Pender”) announced today that the ongoing Canada Post labour disruption will impact Pender’s delivery of meeting materials to its unitholders in respect of the special meetings of certain classes of its mutual funds (“Funds”), scheduled to be held in a virtual only meeting […]
August was a very active month for the Fund, marked by a burst of new deal activity as well as increased attractiveness in several existing deals that progressed into the final stages of closing. During the month, the Fund initiated positions in 30 new or existing deals while nine deals held within the Fund closed. At the end of August 2025, the Fund held 49 active investments in small cap deals under $2 billion, 36 of
"*" indicates required fields
