Working Opportunity Fund (EVCC) Ltd. (“Fund”) continues to actively work with the management teams of portfolio companies to support them in optimizing their business to the ‘new normal’ in connection with the challenges and opportunities […]
Fellow Unitholders, We hope you and your families are safe and healthy. Q2 ended on a much more positive note than Q1, when COVID-19 threw the entire stock market into unprecedented turmoil in March. While […]
In last month’s update, we talked about a couple of our portfolio companies providing mid-quarter updates with a noticeably more positive tone, compared to the outlook given with Q1 earnings just 30 days prior. So, […]
The Pender Corporate Bond Fund (PCBF) continued its rebound in June, gaining 2.9%[1] in the month. The PCBF’s sister Fund, the Pender Bond Universe Fund, returned 1.6%1 in June, closing at a new high for […]
Working Opportunity Fund (EVCC) Ltd. (“Fund”) is actively working with the management teams of portfolio companies to support them in working through the challenges brought on by the COVID-19 pandemic. This includes reviewing and adjusting […]
Staying Sensible (Keeping Emotions in Check) What a roller coaster ride. From the most severe correction in North American equity markets right into the fastest 50-day rally of all time. The Canadian major indices have […]
Fellow Unitholders, We hope you and your families continue to be safe and healthy. Stock markets continued to push higher in May and small caps led the way this month. The Russell 2000 (CAD) and […]
The Pender Corporate Bond Fund gained 3.6%[1] in May, continuing to rebound from the COVID-related drawdown. North American credit markets continued to be well bid as both the Bank of Canada and the US Federal […]
First Survive, Then Thrive At the time of writing this note, first quarter earnings are wrapping up. The reported earnings for the quarter were not overly relevant as the economy was, for the most part, […]
Fellow Unitholders, We hope you and your families are safe and healthy in these challenging times. Stock markets made an astonishing rebound in April, making it the best month for the S&P 500 since 1987. […]
Working Opportunity Fund (EVCC) Ltd. (“Fund”) portfolio companies are working through the challenges and opportunities brought on by the COVID-19 pandemic. We have been actively working with the management teams of our portfolio companies to support […]
In April, the Pender Corporate Bond Fund continued a rebound of unit values that began in the latter part of March. We have a lot of work left to do to recover from the drawdown […]
“There are decades when nothing happens; and there are weeks when decades happen.” – Vladimir Lenin In this commentary we cover: A different kind of unexpected and an extraordinary downturn “Fog of war” and decision […]
What now? “The pessimist complains about the wind; the optimist expects it to change; the realist adjusts the sails.” – William Arthur Ward Like most, we watched the early advancement of the coronavirus outbreak in […]
And this too shall pass Pender is entering its fourth week of working from home. There have been some adjustments to our new reality, but we have been extremely fortunate to so far be free […]
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Working Opportunity Fund – June/July Update
Working Opportunity Fund (EVCC) Ltd. (“Fund”) continues to actively work with the management teams of portfolio companies to support them in optimizing their business to the ‘new normal’ in connection with the challenges and opportunities […]
Manager’s Commentary – June 2020 – David Barr
Fellow Unitholders, We hope you and your families are safe and healthy. Q2 ended on a much more positive note than Q1, when COVID-19 threw the entire stock market into unprecedented turmoil in March. While […]
Manager’s Commentary – June 2020 – Don Walker
In last month’s update, we talked about a couple of our portfolio companies providing mid-quarter updates with a noticeably more positive tone, compared to the outlook given with Q1 earnings just 30 days prior. So, […]
Pender Fixed Income – Manager’s Commentary – June 2020
The Pender Corporate Bond Fund (PCBF) continued its rebound in June, gaining 2.9%[1] in the month. The PCBF’s sister Fund, the Pender Bond Universe Fund, returned 1.6%1 in June, closing at a new high for […]
Working Opportunity Fund – May Update
Working Opportunity Fund (EVCC) Ltd. (“Fund”) is actively working with the management teams of portfolio companies to support them in working through the challenges brought on by the COVID-19 pandemic. This includes reviewing and adjusting […]
Manager’s Commentary – May 2020 – Don Walker
Staying Sensible (Keeping Emotions in Check) What a roller coaster ride. From the most severe correction in North American equity markets right into the fastest 50-day rally of all time. The Canadian major indices have […]
Manager’s Commentary – May 2020 – David Barr
Fellow Unitholders, We hope you and your families continue to be safe and healthy. Stock markets continued to push higher in May and small caps led the way this month. The Russell 2000 (CAD) and […]
Pender Fixed Income – Manager’s Commentary – May 2020
The Pender Corporate Bond Fund gained 3.6%[1] in May, continuing to rebound from the COVID-related drawdown. North American credit markets continued to be well bid as both the Bank of Canada and the US Federal […]
Manager’s Commentary – April 2020 – Don Walker
First Survive, Then Thrive At the time of writing this note, first quarter earnings are wrapping up. The reported earnings for the quarter were not overly relevant as the economy was, for the most part, […]
Manager’s Commentary – April 2020 – David Barr
Fellow Unitholders, We hope you and your families are safe and healthy in these challenging times. Stock markets made an astonishing rebound in April, making it the best month for the S&P 500 since 1987. […]
Working Opportunity Fund – March/April Update
Working Opportunity Fund (EVCC) Ltd. (“Fund”) portfolio companies are working through the challenges and opportunities brought on by the COVID-19 pandemic. We have been actively working with the management teams of our portfolio companies to support […]
Pender Fixed Income – Manager’s Commentary – April 2020
In April, the Pender Corporate Bond Fund continued a rebound of unit values that began in the latter part of March. We have a lot of work left to do to recover from the drawdown […]
CIO’s Commentary – Felix Narhi – Part 1
“There are decades when nothing happens; and there are weeks when decades happen.” – Vladimir Lenin In this commentary we cover: A different kind of unexpected and an extraordinary downturn “Fog of war” and decision […]
CIO’s Commentary – Felix Narhi – Part 2
What now? “The pessimist complains about the wind; the optimist expects it to change; the realist adjusts the sails.” – William Arthur Ward Like most, we watched the early advancement of the coronavirus outbreak in […]
Manager’s Commentary – March 2020 – Don Walker
And this too shall pass Pender is entering its fourth week of working from home. There have been some adjustments to our new reality, but we have been extremely fortunate to so far be free […]