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] D PGF 560 Discount Brokerage 1.40% $5,000 / [$100] Asset Class: Corporate Fixed Income Securities Inception Date: June 1, 2009 Valuation Frequency: Daily Eligibility: Canada-wide, Registered Plans & TFSA's Distributions: DRIP Monthly, Cash Optional Benchmark: FTSE TMX Canada Bond Universe Portfolio Manager: Geoff Castle, Portfolio Manager, PenderFund Capital Management -
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)
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The Latest
Pender Corporate Bond Fund – Manager’s Commentary – June 2019
The Pender Corporate Bond Fund returned 0.9% in June, a result which reflected the broadly benign market conditions. For the half year ending June 30, the Fund returned 4.0% Strength in June came from our holdings in the convertible notes of Avadel Pharmaceuticals that rallied on an FDA drug approval, and our position in bonds of Coeur Mining that gained on higher precious metals prices. SunPower convertible bonds also rallied on favourable developments in California that will require solar power installations on new homes in that state. Offsetting the strength above, continuing volatility in recently defaulted PHI subtracted value in June. We consider the bankruptcy of PHI to be a key catalyst in consolidating the Gulf coast helicopter industry and that, despite recent weakness, a recovery close to par remains a possibility. Dean Foods bonds were also weaker in June. Download the PDF High Yield vs. Treasuries … the Theory…
Recent Commentaries
- Pender Corporate Bond Fund – Manager’s Commentary – May 2019
- Pender Corporate Bond Fund – Manager’s Monthly Commentary – April 2019
- Pender Corporate Bond Fund – Manager’s Monthly Commentary – March 2019
- Pender Corporate Bond Fund – Manager’s Commentary – February 2019
- Pender Corporate Bond Fund – Manager’s Commentary – January 2019
Geoff Castle
Portfolio Manager
Mr. Castle is the Portfolio Manager of the Pender Corporate Bond 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.
