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 […]
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 […]
Highlights For the three months ended March 31, 2023, the Fund generated a 1.9% return. Several high-quality, defensive, relatively longer-dated lines, such as Loblaw Companies Ltd., Verisign Inc. and Bell Canada Enterprises Inc. bolstered performance. […]
For the three months ended December 31, 2022, the Pender Bond Universe Fund generated a 0.8% return, outperforming its benchmark by approximately 70bp. For the full year of 2022, the Fund returned -6.4%1, realizing a […]
For the three months ending July 31, the Fund generated a small but positive return of 0.1%, breaking the string of negative quarters that have resulted from the aggressive rate hiking cycle the Fed and […]
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 […]
Performance Attribution The return of the Class F units of the Pender Bond Universe Fund over the three-month period ended October 31, 2021 was negative 0.9%. The Fund’s benchmark, the FTSE/TMX Canada Universe Bond Index, […]
Performance Attribution The Pender Bond Universe Fund’s exposure to higher yielding credit served as the main contributor to outperformance YTD in 2021. The Fund’s benchmark, the FTSE/TMX Canada Universe Bond Index comprised of Investment Grade […]
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