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.
Class Fund Codes Description MER Minimum Investment: Initial/[Subsequent] A PGF 500 Front End 1.90% $5,000 / [$100] F PGF 510 Fee Based 1.10% $5,000 / [$100] A (US$) PGF 501 Front End 1.90% US$5,000/ [US$100] F (US$) PGF 511 Fee Based 1.10% US$5,000/ [US$100] H PGF 540 Front End – HNW 1.60% $100,000 / [$100] I PGF 550 Fee Based – HNW 0.95% $100,000 / [$100] H (US$) PGF 541 Front End – HNW 1.60% US$100,000 / [$100] I (US$) PGF 551 Fee Based – HNW 0.95% US$100,000 / [$100] D PGF 560 Discount Brokerage 1.10% $5,000 / [$100] Asset Class: Fixed Income Securities Inception Date: June 1, 2009 Valuation Frequency: Daily Eligibility: Canada-wide, Registered Plans Distributions: DRIP monthly, cash optional Benchmark: FTSE TMX Canada Bond Universe Portfolio Manager: Geoff Castle Monthly
- Pender Corporate Bond Fund – Profile Sheet – Class F (CAD)
- Pender Corporate Bond Fund – Profile Sheet – Class F (USD)
- Pender Corporate Bond Fund – Profile 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)
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The Latest
Fixed Income – Manager’s Commentary – September 2021
The Pender Corporate Bond Fund returned 0.9%[1] in September. The gain came amidst somewhat turbulent markets that saw sovereign rates rise amidst fears of inflation and Fed tapering. Download PDF The Fund’s September return was bolstered by a variety of special situations where investors refocused on value that had been obscured by the fog of restructuring. Chief amongst these was our position in American Tire Distributors, Inc., where the capital structure gained on strong operating results and a debt refinancing transaction. We were also part of a creditor group that successfully negotiated a pre-packaged bankruptcy and plan of arrangement for GTT Communications, Inc., leading to a double-digit rise in the value of this term loan position. Other notable gains for the Fund came from our position in Accelerate Diagnostics, Inc., where we participated in a debt-for-equity swap that grew our value by more than 10%, and from our position in…
Geoff Castle
Portfolio Manager
Mr. Castle is the Portfolio Manager of the Pender Corporate Bond Fund and the Pender Bond Universe Fund. He began his investing career in 2000 and has experience in both public mutual funds and proprietary investment fund management for ultra-high net worth individuals.
Parul Garg
Associate Portfolio Manager
Parul Garg is the Associate Portfolio Manager of the Pender Corporate Bond Fund. She began her investment career in 2009 and has been the fixed income analyst on the Fund since 2015.
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