Highlights: Through December and January, the Fund initiated a position in the bonds of Sibanye Stillwater Ltd. which is the largest worldwide pure-play company in the mining and refining of platinum group metals. January saw a selloff in Canadian investment grade bonds and limited gains in high yield indices. Esperion Therapeutics Inc. was the Fund’s […]

As seen in the Globe & Mail on February 2, 2024 (for subscribers only) David Barr talk to Brenda Bouw at The Globe and Mail's Globe Advisor on seeking out growth stocks in a volatile market; his style, the impact of higher interest rates, what he's buying and what he's selling. "One of the key reasons we focus on the small-cap […]

VANCOUVER, B.C., February 2, 2024 - PenderFund Capital Management Ltd. (“Pender”) is pleased to announce that it has been recognized for consistent, risk-adjusted fund outperformance during 2023. The Pender Corporate Bond Fund (“the Fund”), managed by Lead Portfolio Manager Geoff Castle, Portfolio Manager Emily Wheeler, and Associate Portfolio Manager Parul Garg, has received a FundGrade […]

Highlights Positive performance in the Fund during the quarter was driven by by D2L Inc. (TSX: DTOL), Dye & Durham Ltd. (TSX: DND) and KKR and Co L.P (NYSE: KKR), Detractors included Baidu Inc. (Nasdaq: BIDU), Tiny Ltd. (CVE: TINY) and Texas Pacific Land Trust (NYSE: TPL). The Fund increased exposure to Canadian equities to […]

"The main reason investors struggle with how to react to bad news is that they really haven't figured out why they own the stocks they own." - Bill Nygren Highlights Solid quarter caps off positive year for both relative and absolute performance. At year-end, equity exposure was approximately 58.3%, fixed income and credit at 34.3% […]

Highlights The strong performance into year-end is indicative of a strengthening small cap market. A more stable interest rate environment and improved business strategies among small caps, we believe, will lead to increased M&A by both private equity firms and strategic buyers. We have streamlined the number of positions in the portfolio from 61 to […]