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
Annual (POS)
For More Visit: Legal & Financial
The Latest

Pender Fixed Income – Manager’s Commentary – March 2021

The Pender Corporate Bond Fund earned 0.9% in March, a period in which high yield credit performed well but investment grade bonds continued to suffer from rising risk-free rates. Download pdf Strong credits for us in March included our position in the secured 10% PIK notes of Perth-based uranium miner, Paladin Energy. This recently acquired position was one of the ways we had planned to participate in the drive for zero carbon energy sources. And, coming as it did, at 85.5 cents on the dollar with comparatively low default probability, the price didn’t seem too bad, either. However, in March the company did an equity rights issue to pay out our note at 102% of face value, and so this investment will turn out to be a much shorter-term hold than anticipated. Still, it was a happy outcome. Other strong spots in the Fund in March included convertible notes of…

Continue Reading
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.

Stay Connected

Join our online community and receive a monthly round up of new blog posts, commentaries, podcasts, media coverage and more.

Connect

Pender Corporate Bond Fund

Monthly

Annual (POS)

The Latest

Pender Fixed Income – Manager’s Commentary – March 2021

Recent Commentaries

Geoff Castle

Portfolio Manager

Parul Garg

Associate Portfolio Manager

Sign Up To Our Newsletter

Stay Connected