The Pender Strategic Growth and Income Fund is a diversified balanced fund. It aims to generate long-term growth and income by investing in a portfolio of equities and fixed income which may vary depending on market conditions.
The Fund makes allocations across Pender’s investment lineup, specifically, the Fund invests in Pender’s fixed income and equity funds which aim for best-in-class results. It may also allocate up to 10% of its net assets to a range of Pender’s liquid alternative funds to further diversify the portfolio. Alongside these holdings the fund will have equity exposures that are typically investments in All-Cap Canadian and U.S. companies, with an emphasis on businesses that generate stable or growing cash distributions to shareholders and further diversify and complement the existing holdings within the fund.
We believe this approach is an important differentiator to traditional balanced funds, which are often under invested in small-mid cap equities which can be an important long-term driver of returns, and liquid alternatives for diversification benefits.
| Class | 1 Mo. | 3 Mo. | 6 Mo. | 1 Yr. | 3 Yr. | 5 Yr. | 10 Yr. | 15 Yr. | Since Inception |
|---|---|---|---|---|---|---|---|---|---|
| A | 2.5 | 6.1 | 0.5 | 5.4 | 9.9 | 12.0 | 7.9 | ||
| F | 2.6 | 6.4 | 1.1 | 6.6 | 11.1 | 13.2 | 9.1 | ||
| H | 2.6 | 6.2 | 0.7 | 5.8 | 13.2 | ||||
| I | 2.6 | 6.4 | 1.1 | 6.8 | 11.3 | 13.4 | 8.8 |
| Class | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | YTD |
|---|---|---|---|---|---|---|---|---|---|---|
| A | -1.9 | 22.8 | -8.0 | 12.2 | 19.3 | 0.1 | ||||
| F | -1.0 | 24.1 | -7.1 | 13.4 | 20.6 | 0.8 | ||||
| H | 19.7 | 0.4 | ||||||||
| I | 0.7 | 24.3 | -6.9 | 13.6 | 20.8 | 1.0 |
| Class | May'23 | Dec'23 | Mar'24 | Jun'24 | Sep'24 | Dec'24 | Mar'25 | Jun'25 | Since Inception |
|---|---|---|---|---|---|---|---|---|---|
| A | 0.03 | 0.06 | 0.01 | 0.05 | 0.02 | 0.02 | 0.03 | 0.06 | 1.49 |
| F | 0.03 | 0.11 | 0.04 | 0.07 | 0.05 | 0.04 | 0.06 | 0.09 | 1.76 |
| H | 0.07 | 0.16 | 0.03 | 0.07 | 0.04 | 0.04 | 0.05 | 0.09 | 0.54 |
| I | 0.05 | 0.12 | 0.06 | 0.10 | 0.07 | 0.06 | 0.08 | 0.12 | 2.32 |
| Pender Corporate Bond Fund | 34.7 |
| Pender Small Cap Opportunities Fund | 8.6 |
| Pender Alternative Absolute Return Fund | 8.3 |
| Exor N.V. | 3.6 |
| Brookfield Corporation | 3.2 |
| Burford Capital Limited | 3.0 |
| Onex Corporation | 2.8 |
| Trisura Group Ltd. | 2.4 |
| Dream Unlimited Corp. | 2.1 |
| Danaher Corporation | 2.0 |
| Total Percentage of Top 10 Holdings | 70.70 |
| Total Net Assets of Fund | $55,602,161 |
| Code | Class | Description | MER | Trailer | Min. Investment Initial/[Subsequent] |
|---|---|---|---|---|---|
| PGF 1000 | A | Front End | 2.33 | 1.00 | $500/[$] |
| PGF 1010 | F | Fee Based | 1.28 | $500/[$] | |
| PGF 1040 | H | Front End - HNW | 2.00 | 0.85 | $100,000/[$] |
| PGF 1050 | I | Fee Based - HNW | 1.11 | $100,000/[$] |
As at 30-06-2025. The management expense ratio (“MER”) is calculated based on expenses charged to the fund inclusive of applicable taxes including GST and HST (excluding commissions and other portfolio transaction costs) and is expressed as an annualized percentage of average net assets for the period/year. The applicable taxes are calculated using the attribution percentage for each province based on unitholder residency.
There are decades when nothing happens, and then there are months when decades happen. That is what June felt like. Every day it seemed like a new, more extreme headline was coming across the screen. Yet remarkably, equity markets continued their rebound from the April lows, to close the first half of the year at […]
“Trade wars are good, and easy to win.” – Trump (Tweet, March 2, 2018) The Fund returned -3.9%[1] in Q1, driven by underperformance of our equity positions Trump's 'Liberation Day' shattered market stability, replacing order with chaos and short-termism Asset Allocation: 54.6% in equities / 45.4% in fixed income, liquid alternatives, cash Dear fellow unitholders, […]
“The future ain't what it used to be” – Yogi Berra Highlights Fund returned 3.0% in Q4 and 20.6% for 2024; 5-year milestone crossed w/ top decile performance. Rotated tactical allocation to defensive undervalued equities: 5 equity additions and 5 exits. Higher defensive positioning: Record liquid alts, new healthcare equities, high cash levels Dear Fellow […]
"Luck is random, but the ability to capitalize on luck isn't necessarily random.” - Mari Kuraishi Highlights Fund returned 7.8%, with notable contributions from small cap equity and real-estate holdings First Fed reduction in borrowing costs since March 2020, increasing appetite for risk assets Added two new equities: Services provider Calian Group Ltd. and real […]
"The only difference between a salad and garbage is timing." - Andrew Lo, MIT Professor Highlights The Fund returned 1.4% in the second quarter of 2024, with notable contributions from Pender Corporate Bond Fund (fixed income) and Pender Small Cap Opportunities Fund (small caps). Modest defensive reallocation to specialized fund strategies (Pender Corporate Bond Fund […]
" In finance textbooks, "risk" is defined as short-term volatility. In the real world, risk is earning low returns, which is often caused by trying to avoid short-term volatility." - Morgan Housel Dear Unitholders, The Pender Strategic Growth & Income Fund (PSGIF) returned 7.1% in the first quarter of 2024. The one year return was […]
"The main reason investors struggle with how to react to bad news is that they really haven't figured out why they own the stocks they own." - Bill Nygren Highlights Solid quarter caps off positive year for both relative and absolute performance. At year-end, equity exposure was approximately 58.3%, fixed income and credit at 34.3% […]
"It's not whether you're right or wrong that's important, but how much money you make when you're right and how much you lose when you're wrong." - George Soros Highlights The Fund recorded positive performance in a down quarter, extending our record of favourable up/downside capture. The Fund leveraged Pender’s specialized strategies for better balance […]
Highlights Within the Fund’s equity holdings, strong positive contributions came from Onex Corp. (TSX: ONEX), ARC Resources Ltd. (TSX: ARX), and Burford Capital Ltd. (NYSE: BUR). Detractors included Brookfield Corporation (TSX: BN), Texas Pacific Land Corporation (NYSE: TPL), as well as Fiera Capital Corp (TSX: FSZ). However, Brookfield and Texas Pacific Land have both contributed […]
Highlights The Fund returned 2.6% in the first quarter. Over the last three years, performance has been strong at 17.3%1. One of the major areas of market concern during the quarter was the meltdown of Silicon Valley Bank. We do not own any U.S regional banks in the Fund, nor any banks for that matter. […]
Highlights Our equity exposure to energy companies led the way with Spartan Delta Corp. (TSX: SDE), ARC Resources Ltd. (TSX: ARX), and Texas Pacific Land Corporation (NYSE: TPL) among the top five contributors. Defense contractor Northrup Grumman Corporation (NYSE: NOC) was also among the top contributors. CCL Industries Inc. (TSX: CCL.B) was a detractor however […]
Highlights Policymakers in most parts of the world have raised rates this year with the count and pace continuing to mount. The US Bond Market has had a -0.3% annualized return over the last five years, the first negative five-year return in US bond market history. Global bond markets have been even worse. Against this […]
Dear Unitholders, The second quarter of 2022 was challenging for investors. Macro trends from the first quarter of the year continued and the headwinds intensified. The war in Ukraine, elevated commodity prices, and persistent and rising inflation all contributed to investor uncertainty. Central banks have moved swiftly to withdraw stimulus from the economy, raising benchmark […]
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 as central banks attempted to tame persistent inflation. Concerns regarding the economic growth outlook captured headlines. In this environment, asset […]
Dear unitholders, The Pender Strategic Growth & Income Fund (PSGIF) returned -2.3%[1] in January, taking a breather after a strong year in 2021 when it delivered a return of 19.2%. The Pender Enhanced Income Fund returned -2.3%1 in January, following a gain of 24.1% in 2021. Over longer periods, PSGIF has compounded at a healthy […]
"*" indicates required fields
