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 – August 2019
The Pender Corporate Bond Fund returned -0.6% in August, a relatively volatile period for the Fund, as two discrete events impacted the NAV. This volatility occurred against a backdrop of declines in many risk capital markets and an extraordinary rally in long-dated government bonds. The chief negative contributors in the period were our position in Just Energy and our basket of rate reset preferred shares, both of which are discussed at length below. Offsetting the declines, to a degree, was strong performance in select convertible debentures, including those issued by Osisko Gold, Infinera Corp, Pretium Resources and Avaya Holdings. Our investment grade corporate and government bond holdings also rallied in sympathy with the very strong market for longer-dated Treasuries. Finally, our positions in precious metals mining bonds, including Eldorado Gold, Coeur Mining and Iamgold were strong positive contributors. Download the PDF Just Energy The single largest move in August occurred…
Recent Commentaries
- Pender Corporate Bond Fund – Manager’s Commentary – July 2019
- Pender Corporate Bond Fund – Manager’s Commentary – June 2019
- 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
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.
