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The Managers Commentary – January 2021
Fellow unit holders, The strong performance of the Pender Small Cap Opportunities Fund during the fall of 2020 continued in December and into the New Year. For December, the Pender Small Cap Opportunities Fund was […]
Pender Small/Mid Cap Dividend Fund – One Year Anniversary
What an eventful first year it has been for the Pender Small Mid Cap Dividend Fund. Starting the Fund amid bleak circumstances in the early days of the pandemic, we feel fortunate when we reflect […]
Working Opportunity Fund – January Update
Working Opportunity Fund (EVCC) Ltd. (“Fund”) continues to actively work with the management teams of its portfolio companies to support them through their growth and exit positioning. We are pleased to report on their latest […]
The Pender Bond Universe Fund – Year One
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. […]
Pender Fixed Income – Manager’s Commentary – January 2021
The Pender Corporate Bond Fund enjoyed a strong January, gaining 2.8%[1], significantly ahead of benchmark measures. Driving the difference was a robust bid within the deeper value segments of the credit market, as well as […]
Working Opportunity Fund – December Update
Working Opportunity Fund – December Update Working Opportunity Fund (EVCC) Ltd. (“Fund”) continues to actively work with the management teams of portfolio companies to support them through their growth and exit positioning. We are pleased […]
Pender Fixed Income – Manager’s Commentary – December 2020
The Pender Corporate Bond Fund capped off the year with a strong December, gaining 2.6%[1]. Despite a rather tumultuous period early in the pandemic, the full year turned out fairly well, ending with a total […]
CIO’s Commentary
“A change in perspective is worth 80 IQ points.”- Alan Kay In this commentary we cover: Protecting the gains when markets hits new highs Inevitable trade-offs – Lower volatility vs potential higher returns How fast […]
The Managers Commentary – November 2020
Fellow Unitholders, Our holiday wishes came true early this year, in November. The Pender Value Fund had its highest monthly return in its history[1] – an amazing 14.3%[2] for the month, ahead of the S&P […]
The Manager’s Commentary – November 2020
Fellow Unitholders, We had an early holiday wish come true in November. The Pender Small Cap Opportunities Fund had its highest monthly return in history1 – a whopping 19%2 for the month, ahead of the S&P 500 Index (CAD) with 8.1% and the S&P/TSX Composite Index with a 10.6% return. We hope there are more months like […]
Pender Fixed Income – Manager’s Commentary – November 2020
The Pender Corporate Bond Fund enjoyed a very strong November, gaining 4.6%[1] on the happy confluence of some important tailwinds. A number of important vaccine breakthroughs, combined with a resolution of U.S. election uncertainty, were […]
Working Opportunity Fund – October & November Update
Working Opportunity Fund (EVCC) Ltd. (“Fund”) continues to actively work with the management teams of portfolio companies to support them through their growth and exit positioning. The impact of Covid-19 continues to be felt throughout […]
Manager’s Commentary – October 2020 – Don Walker
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 […]
The Manager’s Commentary – October 2020
Fellow Unitholders, Stock markets dipped again in October after a broad sell off in September. The S&P 500 (CAD) index lost 2.6% and the S&P/TSX Composite index was down 3.1%. While markets were in negative […]
Pender Fixed Income – Manager’s Commentary – October 2020
The Pender Corporate Bond Fund experienced a modest loss of -0.3% in October, ending a series of strong months that saw the Fund substantially recover from its March drawdown. The decline occurred within the context […]