Dear Unitholders, The Pender Alternative Arbitrage Fund (PAAF) ended the month of April 2022 with a NAV of $10.23 per unit[1]. Download PDF After a slow-down last month, M&A activity is picking back up with […]
Dear Unitholders, The Pender Alternative Arbitrage Fund (PAAF) ended the month of March 2022 with a NAV of $10.28 per unit[1]. M&A activity ended Q1 with over $1 trillion of global deal activity, down 21% […]
Dear Unitholders, The Pender Alternative Arbitrage Fund (PAAF) ended the month of February 2022 with a NAV of $10.18 per unit[1]. Despite equity market volatility, record inflation, rising rates and a geopolitical crisis, M&A activity […]
Dear Unitholders, The Pender Alternative Arbitrage Fund (PAAF) ended the month of January 2022 with a NAV of $10.15 per unit[1]. Download PDF M&A activity is off to the races, with momentum from the record […]
Dear Unitholders, The Pender Alternative Arbitrage Fund (PAAF) ended the month of December 2021 with a NAV of $10.19 per unit[1]. Download PDF M&A activity capped off 2021 with a record $5.8 trillion in global […]
Dear Unitholders, The Pender Alternative Arbitrage Fund (PAAF) ended the month of November with a NAV of $10.18 per unit[1]. Download PDF M&A activity continues to set records, topping $5 trillion in global deal activity […]
Dear Unitholders, The Pender Alternative Arbitrage Fund ended the month of October with a NAV of $10.10 per unit[1]. Download PDF M&A is red-hot with a record level of global deal activity through the first […]
I’m not the man they think I am at home…I’m a rocket man. It’s been an exciting summer in the race for human space exploration, with Richard Branson and Jeff Bezos successfully completing suborbital space […]
The Fund continued to deliver positive performance with year-to-date returns through to April 30, 2021 of 17.9%[1]. This performance has been supported by many of the businesses we own seeing an expansion in operating leverage, […]
What an eventful first year it has been for the Pender Small Mid Cap Dividend Fund. Starting the Fund amid bleak circumstances in the early days of the pandemic, we feel fortunate when we reflect […]
November 15, 2020 marked a historical milestone with the successful launch of the SpaceX Crew-1 Mission, transporting four astronauts aboard the Crew Dragon Resilience over 400km into orbit on a twenty-seven hour voyage to the […]
The COVID-19 pandemic and resulting global shutdown of major parts of the economy, many of which remain closed, have created considerable distress in credit markets. By late March, the amount of US distressed debt had […]
Dave Barr and I attended the MOI Global Latticework New York 2019 event on September 12, 2019. MOI Global, which was founded by John Mihaljevic the author of The Manual of Ideas (see our book […]
Our investment in Transat A.T. represents a successful catalyst-driven close the discount (CTD) investment. As Canada’s third largest airline and one of the largest tourism companies in the world, Transat has had a long and […]
To mark 10 years since the launch of our mutual funds, Pender took its annual Investment Conference to a new level, with additional due diligence sessions and a keynote speaker. Culture First, everything else later […]
“Well that escalated quickly” Investors may be feeling symptoms of vertigo with the significant volatility exhibited by the market in the last couple quarters. As the headlines almost boastfully state, 2018 capped off the worst […]
A lost decade in the past could be a great setup for the future 2018 was a “terrible, horrible, no good, very bad” year for the S&P/TSX Composite Index which rung in the New Year […]
In my October 2017 commentary I talked about expanding Pender’s Circle of Competence and mentioned the addition of Amar Pandya to our team and how he brings additional depth to our mid and large cap […]
Our focus on identifying high quality businesses that generate strong returns on invested capital and have promising internal reinvestment opportunities generally results in our funds having little to no exposure in resource companies. That said, […]
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