October was a shaky month. The risks seemed to outnumber the potential rewards and the broader markets ended on a down note. All eyes were on a looming presidential election and a rising COVID case […]

After several consecutive months of equity markets moving steadily higher, September saw a return to volatility. As the COVID case count started to rise again, there were fears of a second wave and containing its […]

Reported earnings for the second quarter ended as strong as they started. Through a combination of better–than–expected revenue and reduced costs, basically every company in our portfolio either met or handily surpassed our expectations.   Download PDF In last month’s update we noted that a portion of the stronger than expected […]

With this month’s commentary we have hit a key milestone for the Pender Small Mid Cap Dividend Fund. The Fund is officially six months into it’s mandate and while it’s been a wild six months, […]

In last month’s update, we talked about a couple of our portfolio companies providing mid-quarter updates with a noticeably more positive tone, compared to the outlook given with Q1 earnings just 30 days prior. So, […]

Staying Sensible (Keeping Emotions in Check) What a roller coaster ride. From the most severe correction in North American equity markets right into the fastest 50-day rally of all time. The Canadian major indices have […]

First Survive, Then Thrive At the time of writing this note, first quarter earnings are wrapping up. The reported earnings for the quarter were not overly relevant as the economy was, for the most part, […]

And this too shall pass Pender is entering its fourth week of working from home. There have been some adjustments to our new reality, but we have been extremely fortunate to so far be free […]