Pender Growth Fund Inc. (the “Company”) today announced its financial and operational results for the three months and six months ended June 30, 2024.  Financial Highlights (Unaudited)  Net income was $22,533,335 for the three months ended June 30, 2024 (June 30, 2023 –  $41,217) due to positive investment performance in the quarter.  Net income per […]

Highlights July was another positive month for Fund as several of the larger holdings closed allowing us to harvest and redeploy capital. Key deals included: Apartment Income REIT, Vericity Inc, National Western Life Insurance Co, Everbridge Inc and Argonaut Gold Inc. Performance also benefitted from buoyant equity markets, robust deal activity and outperformance of small […]

Highlights We have put capital to work in new issues in the Canadian dollar high-yield market as some higher quality issues have come to market at meaningfully wider spreads than similar issues in the US high yield market In July, our position in the Austin Fairmont CMBS issue was redeemed, realizing a holding period return […]

As published in Conseiller (in French) on 12 August, 2024. Investment success over the long term is based on the positive synergy of three pillars which form the basis of alpha generation through various market cycles. For professional investors, table stakes are 1) clarity of goals and alignment across the whole company and, 2) having […]

Highlights Key contributors included Desktop Metal Inc. convertible bonds, Emergent BioSolutions 2028 notes, Lucid Group and OPKO Health convertible bonds. New positions included: Spirit Airlines 2025 secured notes, 5.75% convertible notes of PNM Resources, and 2027 notes of Energean PLC. The Pender Corporate Bond Fund enjoyed another profitable period in July, returning 2.6%[1]. Several specific […]

Highlights One of our largest holdings, Copperleaf Technologies Inc (TSX: CPLF) announced it was to be acquired for $12.00 per share. It was among our top three contributors for the quarter, along with Sylogist Ltd (TSX: SYZ). and TerraVest Industries Inc (TSX: TVK). Top detractors this quarter included Dye & Durham Ltd (TSX: DND), Chesswood […]