Highlights Both widening credit spreads and higher government yields negatively impacted returns for the month. The Fund increased market exposure with the focus on high-quality, high yield bonds trading at attractive discounts to par. The Fund finished the month with our highest exposure to the market all year - about 80% net long excluding positions […]
VANCOUVER, B.C., November 10, 2023 - PenderFund Capital Management Ltd. (“Pender”) is pleased to announce that the Pender Strategic Growth and Income Fund (the “Fund”) has received an LSEG Lipper Fund Award. The Pender Strategic Growth and Income Fund has been recognized as an LSEG Lipper Fund Awards Canada 2023 Winner and named the best […]
Highlights: October was a volatile month characterized by sharply lower risk asset prices combined with higher risk-free rates across the curve. We are generally constructive on the bond market heading into the end of the year. In October we continued to find opportunity in discounted longer-tenor opportunities. The Pender Corporate Bond Fund emerged from a […]
"It's not whether you're right or wrong that's important, but how much money you make when you're right and how much you lose when you're wrong." - George Soros Highlights The Fund recorded positive performance in a down quarter, extending our record of favourable up/downside capture. The Fund leveraged Pender’s specialized strategies for better balance […]
Dear Unitholders, Highlights The Fund initiated positions in 14 new or previously announced mergers while five merger deals held within the Fund closed during the month. At the end of September, the Fund had 41 investments in small-cap deals under $2 billion, 32 of which were valued at under $1 billion. Deal activity in Canada […]
Highlights During the quarter, we added Aecon Group Inc. (TSX:ARE) and Thinkific Labs Inc. (TSX:THNC). Canadian equities stood at 52.7% at the end of the quarter, up from 50.3% at the end of December 2022. As our Canadian exposure has grown, we have been reducing our weights to international companies, which stood at 9.5% at […]
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