Pender Corporate Bond Fund
The Pender Corporate Bond Fund is an income fund that is both conservatively managed to preserve capital, as well as opportunistic to generate returns. The Fund is focused on key credit characteristics – coverage, seniority and duration. It is driven by bottom up fundamental analysis, the Fund seeks to use its nimble size to invest in opportunities large or index based funds cannot. This advantage could provide investors with an attractive cash yield, while maintaining positions in attractively valued securities that provide a margin-of-safety for investors.
Class Fund Codes Description MER (Capped) Minimum Investment: Initial/[Subsequent] A PGF 500 Front End 1.95% $5,000 / [$100] F PGF 510 Fee Based 1.15% $5,000 / [$100] A (US$) PGF 501 Front End 1.95% US$5,000/ [US$100] F (US$) PGF 511 Fee Based 1.15% US$5,000/ [US$100] H PGF 540 Front End – HNW 1.65% $100,000 / [$100] I PGF 550 Fee Based – HNW 1.00% $100,000 / [$100] H (US$) PGF 541 Front End – HNW 1.65% US$100,000 / [$100] I (US$) PGF 551 Fee Based – HNW 1.00% US$100,000 / [$100] D PGF 560 Discount Brokerage 1.15% $5,000 / [$100] Asset Class: Fixed Income Securities Inception Date: June 1, 2009 Valuation Frequency: Daily Eligibility: Canada-wide, Registered Plans Distributions: DRIP monthly, cash optional Benchmark: FTSE TMX Canada Bond Universe Portfolio Manager: Geoff Castle Monthly
- Pender Corporate Bond Fund – Profile Sheet – Class F (CAD)
- Pender Corporate Bond Fund – Profile Sheet – Class F (USD)
- Pender Corporate Bond Fund – Profile Sheet – Class A
Annual (POS)
- Pender Corporate Bond Fund – Fund Facts – CAD (A Class)
- Pender Corporate Bond Fund – Fund Facts – USD (A Class)
- Pender Corporate Bond Fund – Fund Facts – CAD (D Class)
- Pender Corporate Bond Fund – Fund Facts – CAD (F Class)
- Pender Corporate Bond Fund – Fund Facts – USD (F Class)
- Pender Corporate Bond Fund – Fund Facts – CAD (H Class)
- Pender Corporate Bond Fund – Fund Facts – CAD (I Class)
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The Latest
Pender Fixed Income – Manager’s Commentary – December 2020
The Pender Corporate Bond Fund capped off the year with a strong December, gaining 2.6%[1]. Despite a rather tumultuous period early in the pandemic, the full year turned out fairly well, ending with a total return after all fees and costs of 7.0%1. Annualized performance for the five years ending Dec 31, 2020 was 9.9%1. Download pdf Gains in December were led by our position in FireEye Inc. convertible notes, which surged on renewed interest in security software firms following a high-profile hack on several US entities. Other strength came from a successful par plus accrued cash recovery on the completion of Aceto Corp.’s liquidation. Commodity-related positions, including Transocean secured notes, also contributed positively. Weakness in the portfolio was limited, due to the fairly buoyant environment. However, we did see some pressure in the credit of both Accelerate Diagnostics and Intercept Pharmaceuticals. In both cases we continue to view total…
Recent Commentaries
Geoff Castle
Portfolio Manager
Mr. Castle is the Portfolio Manager of the Pender Corporate Bond Fund and the Pender Bond Universe Fund. He 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.
Parul Garg
Associate Portfolio Manager
Parul Garg is the Associate Portfolio Manager of the Pender Corporate Bond Fund. She began her investment career in 2009 and has been the fixed income analyst on the Fund since 2015.
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