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 / [$500] F PGF 510 Fee Based 1.15% $5,000 / [$500] A (US$) PGF 501 Front End 1.95% US$5,000/ [US$500] F (US$) PGF 511 Fee Based 1.15% US$5,000/ [US$500] H PGF 540 Front End - HNW 1.65% $100,000 / [$1,000] I PGF 550 Fee Based - HNW 1.00% $100,000 / [$1,000] D PGF 560 Discount Brokerage 1.40% $5,000 / [$500] 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)
For More Visit: Legal & Financial
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The Latest
Pender Corporate Bond Fund – Manager’s Monthly Commentary – April 2019
The Pender Corporate Bond Fund returned 1.1% in April, not a particularly remarkable result within the context of a very well-bid credit market, but nevertheless welcome as a steady progression of unitholder value. Leading the gains in the Fund were the 2% convertible bonds of Aceto Corp which rallied into the 90s from the 60s as Aceto’s liquidation process yielded multiple bids for the company’s chemicals business, taking the likely recovery in liquidation close to par. Other strong positions in April included bonds of Navios Maritime Holdings, Calfrac and Venator, all of which rallied on a return of interest in these cyclically depressed industrial issuers. Download the pdf Offsetting the strength above were selected pockets of weakness, including Dean Foods where negative sentiment, more so than negative events, weighed on the credit. Our small position in Sherritt International bonds was also materially weaker during the month. For Bedtime Reading…Some Tales…
Recent Commentaries
- 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
- Pender Corporate Bond Fund – Manager’s Monthly Commentary – December 2018
- Pender Corporate Bond Fund – Manager’s Commentary – Geoff Castle – November 2018
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.
