Articles by Geoff Castle

Pender Fixed Income – Manager’s Commentary – September 2020

Written by Geoff Castle

The Pender Corporate Bond Fund gained 0.5%[1] in September, continuing the positive trend that the Fund began after March 2020. The Fund’s performance came amidst an environment of modestly declining risk-free interest rates and a more challenging high yield market that […]

October 5, 2020

Manager’s Commentary – Geoff Castle – June 2017

Written by Geoff Castle

The Pender Corporate Bond Fund returned 0.3% in June, a reasonably good result given generally weak performance of credit markets. Helping this performance was our position in the convertible notes of EnerNOC Inc, which jumped […]

July 7, 2017

Manager’s Commentary – Geoff Castle – May 2017

Written by Geoff Castle

The Pender Corporate Bond Fund returned 0.5% in May. Leading this performance was our position in the distressed credit of Global Brokerage Inc, which surprised creditors positively with a $56M non-core asset disposition. We saw […]

June 5, 2017

Manager’s Commentary – Geoff Castle – December 2015

Written by Geoff Castle

Monthly Update The Pender Corporate Bond Fund returned -1.6%* in December. Price declines were fairly broad-based across the Fund but particularly impacted longer-duration and lower-rated securities. Most of the price movement took place in the […]

January 7, 2016