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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Class Fund Codes Description MER (Capped) Minimum Investment: Initial/[Subsequent] A PGF 500 Front End 1.95% $5,000 / [$100] F PGF 510 Fee Based 1.15% $5,000 / [$100] A (US$) PGF 501 Front End 1.95% US$5,000/ [US$100] F (US$) PGF 511 Fee Based 1.15% US$5,000/ [US$100] H PGF 540 Front End - HNW 1.65% $100,000 / [$100] I PGF 550 Fee Based - HNW 1.00% $100,000 / [$100] H (US$) PGF 541 Front End - HNW 1.65% US$100,000 / [$100] I (US$) PGF 551 Fee Based - HNW 1.00% US$100,000 / [$100] D PGF 560 Discount Brokerage 1.15% $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
Pender Fixed Income – Manager’s Commentary – July 2020
The Pender Corporate Bond Fund gained 2.4%[1] in July, continuing the positive trend that the Fund began after the March 2020 lows. The positive performance was within the context of improving overall credit market conditions that saw tightening spreads and an active primary market for corporate debt issuance. Government bond markets remained well bid with yields drifting slightly lower in July. Download the PDF The Fund’s gains in July were broad-based, with most issues appreciating. The largest moves occurred in several convertible bonds that rallied significantly in sympathy with equities that neared or broke through conversion strike prices. This group included our position in Opko Health’s 4.5% notes of 2025 which reacted strongly to the company’s success in attracting COVID-19 testing business in its diagnostic health division. While we continue to like Opko’s prospects, we did sell most of our position in July as the notes, which had traded a…
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.
