Articles by Emily Wheeler

Bond Universe – Q1 2024

Written by Emily Wheeler

Highlights A strong March characterized by strength in credit lifted the Fund into positive territory for the quarter ended March 31, 2024. Key contributors included Occidental Petroleum and OPKO Health. Currently the Fund has a […]

April 11, 2024

Bond Universe – Q4 2023

Written by Emily Wheeler

Highlights The past quarter was characterized by a strong bond market reaction to the disinflationary trend. Longer dated, high grade bonds were the strongest contributors to performance. Favourable performers included Warner Brothers Discovery Inc. (2062), […]

January 12, 2024

Bond Universe – Q3 2023

Written by Emily Wheeler

Highlights We reduced the Fund’s weight in several, shorter-dated, high-quality corporate issuers and government bonds and re-allocated proceeds to longer-dated holdings, including Warner Brothers Discover 5.391% ’62. The Fund’s position in Inflation-Linked Bonds was slightly […]

October 10, 2023

Bond Universe – Mar-Jun 2023

Written by Emily Wheeler

Highlights Positive contributors were shorter-dated, higher-quality lines as well as the Fund’s exposure to credit through the Pender Corporate Bond Fund. With high-yield spreads remaining at approximately 4% at quarter-end and with indicators skewed to […]

July 11, 2023

Bond Universe – Jan-Mar 2023

Written by Emily Wheeler

Highlights For the three months ended March 31, 2023, the Fund generated a 1.9% return.[1] Several high-quality, defensive, relatively longer-dated lines, such as Loblaw Companies Ltd., Verisign Inc. and Bell Canada Enterprises Inc. bolstered performance. […]

April 13, 2023

Bond Universe – Oct-Dec 2022

Written by Emily Wheeler

For the three months ended December 31, 2022, the Pender Bond Universe Fund generated a 0.8%[1] return, outperforming its benchmark by approximately 70bp. For the full year of 2022, the Fund returned -6.4%1, realizing a […]

January 13, 2023

Bond Universe – Q2 2022

Written by Emily Wheeler

For the three months ending July 31, the Fund generated a small but positive return of 0.1%[1], breaking the string of negative quarters that have resulted from the aggressive rate hiking cycle the Fed and […]

August 15, 2022

Bond Universe – April 2022

Written by Emily Wheeler

In the quarter ended April 30, 2022, the Fund outperformed its benchmark. With the FTSE/TMX Canada Universe Bond Index down 7.0% over the past three months, the Pender Bond Universe Fund’s (PBUF) Class F return […]

May 12, 2022

The Pender Bond Universe Fund – Year One

Written by Emily Wheeler

Having passed the one-year mark since the Fund’s inception at the end of January 2020, we are now in a position to report the first full year investment return of the Pender Bond Universe Fund. […]

February 10, 2021