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Join our online community and receive a monthly round up of new blog posts, commentaries, podcasts, media coverage and more.
Small Cap Equity – Manager’s Commentary – April 2022
Fellow unit holders, The selloff in risk assets carried on in April and volatility continued to trend higher. This was driven by growing macro concerns that focused on the outlook for inflation, rising interest rates […]
Bond Universe – April 2022
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 […]
Alternative Arbitrage – Manager’s Commentary – April 2022
Dear Unitholders, The Pender Alternative Arbitrage Fund (PAAF) ended the month of April 2022 with a NAV of $10.23 per unit[1]. Download PDF After a slow-down last month, M&A activity is picking back up with […]
Alternative Absolute Return – Manager’s Commentary – April 2022
Dear Unitholders, The Pender Alternative Absolute Return Fund finished April with a unit price of $10.00 and distributions of $0.05 per unit[1]. Download PDF April 2022 was a volatile month for markets as the rubber […]
Fixed Income – Manager’s Commentary – April 2022
The Pender Corporate Bond Fund returned -1.6%1 in April. In a tough market, the Fund continued its streak of outperforming its benchmark and category. Download PDF In a market without many bright spots, we benefitted […]
Balanced Funds – Manager’s Commentary – March 2022
Dear unitholders, In the first quarter of 2022, markets finished with mixed results as macro trends grabbed investor attention. The quarter saw increased geopolitical risk with the Russian invasion of Ukraine and rising interest rates […]
Small/Mid Cap Dividend – Manager’s Commentary – March 2022
Dear unitholders, The first quarter of 2022 came to a close with mixed performance in equity markets to start the year. Investors were focused on macro events on several fronts, including the ongoing conflict in […]
Small Cap Equity – Manager’s Commentary – March 2022
Fellow unit holders, The first quarter of 2022 came to a close with mixed performance to start the year. Investors were focused on macro events on several fronts, including the ongoing conflict in Ukraine, rising […]
Value Fund – Manager’s Commentary – March 2022
Fellow unit holders, The first quarter of 2022 came to a close with mixed performance to start the year. Investors were focused on macro events on several fronts, including the ongoing conflict in Ukraine, rising […]
Alternative Arbitrage – Manager’s Commentary – March 2022
Dear Unitholders, The Pender Alternative Arbitrage Fund (PAAF) ended the month of March 2022 with a NAV of $10.28 per unit[1]. M&A activity ended Q1 with over $1 trillion of global deal activity, down 21% […]
Alternative Absolute Return – Manager’s Commentary – March 2022
Dear Unitholders, The Pender Alternative Absolute Return Fund finished March with a unit price of $10.01 and distributions of $0.05 per unit[1]. Download PDF March 2022 was a volatile month for markets with a dramatic […]
Fixed Income – Manager’s Commentary – March 2022
The Pender Corporate Bond Fund returned -0.4%[1] in March. While we never celebrate losses, it is worth noting that the Fund’s monthly loss was less than a third of that of the high yield index […]
Small/Mid Cap Dividend – Manager’s Commentary – February 2022
Dear unitholders, As investors continue to assess the financial risks related to the conflict between Russia and Ukraine, stock markets ended February on a mixed note. In Canada, the S&P/TSX Composite Index was up 0.3% […]
Small Cap Equity – Manager’s Commentary – February 2022
Fellow unit holders, As investors continue to assess the financial risks related to the conflict between Russia and Ukraine, stock markets ended February on a mixed note. In the US, the S&P 500 Index (CAD) […]
Alternative Absolute Return – Manager’s Commentary – February 2022
Dear Unitholders, The Pender Alternative Absolute Return Fund finished February with a unit price of $10.01 and distributions of $0.02 per unit[1]. Download PDF February 2022 was a volatile month for markets with the high-yield […]