Pender Strategic Growth and Income Fund
The Pender Strategic Growth and Income Fund (formerly the Pender Balanced Fund) is a conservatively managed balanced fund. Our investment team believes that at any point in time, individual securities, sectors or asset classes can become mispriced so the Fund is also designed to be opportunistic. The Pender Strategic Growth and Income Fund has a flexible mandate that can move from 80/20 to 20/80 fixed income/equity. It looks for securities with the best risk/return balance, regardless of whether that is through capital appreciation or income.
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Class Fund Codes Description MER (Capped) Minimum Investment: Initial/[Subsequent] A PGF 600 Front End 2.25% $5,000 / [$500] F PGF 610 Fee Based 1.25% $5,000 / [$500] H PGF 640 Front End - HNW 1.95% $100,000 / [$1,000] I PGF 650 Fee Based - HNW 1.10% $100,000 / [$1,000] D PGF 660 Discount Brokerage 1.50% $5,000 / [$500] Asset Class: Global Balanced Inception Date: November 24, 2010 Valuation Frequency: Daily Eligibility: Canada-wide, Registered Plans & TFSA's Distributions: DRIP Quarterly, Cash Optional Benchmark: Blended Benchmark (50% FTSE/TMX Canada Universe Bond Index, 35% S&P/TSX Composite Index, 15% S&P 500 Index) Portfolio Manager: Felix Narhi, CFA. Chief Investment Officer and Portfolio Manager, PenderFund Capital Management.
Co- Manager: Geoff Castle, Portfolio Manager, PenderFund Capital Management.
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- Pender Strategic Growth & Income Fund - Fund Facts (A Class)
- Pender Strategic Growth & Income Fund - Fund Facts (D Class)
- Pender Strategic Growth & Income Fund - Fund Facts (F Class)
- Pender Strategic Growth & Income Fund - Fund Facts (H Class)
- Pender Strategic Growth & Income Fund - Fund Facts (I Class)
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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
- CIO’s Quarterly Commentary – Felix Narhi – Q4 2018
- 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
Felix Narhi
Chief Investment Officer and Portfolio Manager
Mr. Narhi is the Chief Investment Officer of Pender and the Portfolio Manager of the Pender US All Cap Equity Fund and the Pender Strategic Growth and Income Fund, and Co-Manager of the Pender Value Fund.
