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 1.40% $5,000 / [$100] Asset Class: Corporate 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)
For More Visit: Legal & Financial
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The Latest
Pender Fixed Income – Manager’s Commentary – February 2020
The Pender Corporate Bond Fund declined -0.7% in February, as coronavirus fears and falling commodity prices hit credit hard in the latter half of the month. North American high yield credit spreads spiked to more than 500 basis points over Treasuries, an increase of about 150 basis points from levels observed in mid-February. Government bond yields fell, which pulled investment grade bonds largely higher, while at the same time hurting floating rate securities and rate reset preferred shares. Despite the broad market weakness, we enjoyed significant gains in certain securities. Avadel convertible notes gained on an equity financing to more than 110% of face value, adding more than 20% in the month, which provided us a very profitable exit. Similarly, Paratek Pharma convertible notes rallied on a renewed interest in novel antibiotics, gaining several points. Other gainers included Zillow convertible notes, which rallied on the back of quarterly results ahead…
Recent Commentaries
- Pender Corporate Bond Fund – Manager’s Commentary – January 2020
- Pender Corporate Bond Fund – Manager’s Commentary – December 2019
- Pender Corporate Bond Fund – Manager’s Commentary – November 2019
- Pender Corporate Bond Fund – Manager’s Commentary – October 2019
- Pender Corporate Bond Fund – Manager’s Commentary – September 2019
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.
