Education

As an owner of a mutual fund that makes distributions, you are entitled to receive these payments. Not all mutual funds make distributions, but many do. If you own one of these funds, from time-to-time, a cash payment or additional fund units will be deposited into your account. This may occur on a monthly, quarterly, […]

The failure of the 60/40 balanced portfolio The traditional balanced investment portfolio, typically composed of 60 per cent equities and 40 per cent bonds, is deemed to be the goldilocks of asset allocations—neither too hot, nor too cold but just right for the average investor. Download the PDF This asset allocation aims to balance risk and return, […]

Capital allocation is the most fundamental responsibility of senior management.  A company flush with cash has several options when it comes to deploying capital. It can return some of it to stakeholders through stock buybacks, raising dividends or reducing debt. It can also invest in the business through increased capex, or investments into research & development and working capital or it can engage in M&A. Mergers & acquisitions are the largest use of capital. yet it is widely accepted that over two-thirds of mergers fail despite their goal […]

High-net-worth investors seek strategies to protect and grow wealth in a tax-efficient manner. Pender Alternative Arbitrage Fund aims to generate positive and sustainable returns with low volatility. The Fund offers superior tax efficiency because most of the returns are taxed more favourably as capital gains, not interest income or dividends. Download the PDF What is […]

How investors can benefit from merger arbitrage strategies Merger arbitrage strategies are finally available to individual investors—and that’s a good thing because they can offer consistent positive returns, lower volatility and add diversification to an investment portfolio. Yet until recently these investment strategies could only be accessed by accredited investors such as pension funds, family […]

Small cap returns come from investing in the higher growth part of the cycle and from greater market inefficiencies Pender has developed a circle of competence in understanding small-cap companies. We launched as a venture capital company investing in private and very small public companies which honed our expertise. We sat on boards and tracked […]

How investors can benefit from volatility In the investing world, price volatility is defined by how far the price of a stock, bond, or other financial asset may deviate from its mean price within a given period. That is still the technical definition but over the past 30 years, the general understanding of volatility has […]

Protecting capital and growing wealth can benefit from long-term thinking The concept of market timing—the idea that successful investing decisions can be based on predicting future market movements—is as seductive as the Sirens of Greek mythology who ensnared sailors with the sweetness of their songs. Students of Greek mythology will recall the sailors did not […]

Alternative asset strategies are gaining popularity among investors. Here are some reasons why they could be included in a diversified portfolio. Download the PDF What are alternative assets? The terms “alternative assets” or “alternative investment strategies” are having a moment in the financial media with many articles referring to them. But what exactly are they […]