Pender Corporate Bond Fund
The Pender Corporate Bond Fund is an income fund that is both conservatively managed to preserve capital, as well as opportunistic to generate returns. The Fund is focused on key credit characteristics - coverage, seniority and duration. It is driven by bottom up fundamental analysis, the Fund seeks to use its nimble size to invest in opportunities large or index based funds cannot. This advantage could provide investors with an attractive cash yield, while maintaining positions in attractively valued securities that provide a margin-of-safety for investors.
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Monthly
- Pender Corporate Bond Fund - Fact Sheet - CAD
- Pender Corporate Bond Fund - Fact Sheet - USD
- Pender Corporate Bond Fund - Fact Sheet - Class A
Annual (POS)
- Pender Corporate Bond Fund - Fund Facts - CAD (A Class)
- Pender Corporate Bond Fund - Fund Facts - USD (A Class)
- Pender Corporate Bond Fund - Fund Facts - CAD (D Class)
- Pender Corporate Bond Fund - Fund Facts - CAD (F Class)
- Pender Corporate Bond Fund - Fund Facts - USD (F Class)
- Pender Corporate Bond Fund - Fund Facts - CAD (H Class)
- Pender Corporate Bond Fund - Fund Facts - CAD (I Class)
For More Visit: Legal & Financial
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The Latest
Pender Corporate Bond Fund – Manager’s Commentary – Geoff Castle – July 2018
The Pender Corporate Bond Fund returned 0.3% in July, a result fairly close to the underlying run-rate yield of the securities held. Strong performers for the Fund in July included our position in bonds and preferred shares of Aimia Inc., which rallied on unsolicited bids for the company’s assets from Air Canada and AeroMexico. Further strength came from a rise in prices of convertible shares of Energy Fuels Inc., as mine closures in the uranium sector pushed the underlying stock price close to conversion parity. The gains above were offset, to a degree, by weakness in bonds of Global Brokerage which fell on a position liquidation by a significant holder, and also in convertible notes of SunPower Corp, where lingering tariff concerns weighed. The Corporate credit market overall was relatively stable in July. Corporate credit spreads in both high yield and investment grade tightened somewhat, with the move being offset…
