Pender Alternative Absolute Return Fund
The Pender Alternative Absolute Return Fund is a flexible, high yield focused alternative credit strategy that aims to produce positive absolute returns at all stages of the economic cycle. This low-risk strategy can be used to provide diversification benefits to clients with low correlation to traditional equity and fixed income investments.
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Standard Performance Data is subject to important disclosures set out in our Disclaimer.Performance (%) - August 30, 2024 1 Mo. 3 Mo. 6 Mo. 1 Yr. 2 Yr. 3 Yr. 5 Yr. 10 Yr. 15 Yr. YTD Since Inception Inception Date A 0.2 0.2 2.4 6.0 7.0 4.0 6.3 2021-09-01 F 0.2 0.4 2.8 6.9 7.8 4.6 7.0 2021-09-01 Annual Performance (%) 2016 2017 2018 2019 2020 2021 2022 2023 YTD A 5.7 6.6 4.0 F 6.3 7.5 4.6 Distributions Per Unit ($) Jan'24 Feb'24 Mar'24 Apr'24 May'24 Jun'24 Jul'24 Aug'24 Since Inception A 0.10 0.05 0.04 0.05 0.06 0.05 0.05 0.05 2.17 F 0.11 0.06 0.05 0.06 0.07 0.05 0.06 0.06 2.36
Class Fund Codes Description MER* before performance fee MER* Minimum Investment: Initial/[Subsequent] A PGF 2000 Front End 2.51% 2.83% $5,000 / [$100] F PGF 2010 Fee Based 1.41% 1.93% $5,000 / [$100] H PGF 2040 Front End – HNW 2.21% 2.59% $100,000 / [$100] I PGF 2050 Fee Based – HNW 1.24% 1.78% $100,000 / [$100] A (US$) PGF 2001 Front End 2.58% 2.80% $5,000 / [$100] F (US$) PGF 2011 Fee Based 1.40% 1.90% $5,000 / [$100] H (US$) PGF 2041 Front End – HNW 2.10% 2.41% $100,000 / [$100] I (US$) PGF 2051 Fee Based – HNW 1.24% 1.71% $100,000 / [$100] *As at 2024-06-30. The management expense ratio (“MER”) is calculated based on expenses charged to the fund inclusive of applicable taxes including GST and HST (excluding commissions and other portfolio transaction costs) and is expressed as an annualized percentage of average net assets for the period/year. The applicable taxes are calculated using the attribution percentage for each province based on unitholder residency.
Asset Class: Alternative Absolute Return Inception Date: September 1, 2021 Risk Rating: Low Valuation Frequency: Daily Distributions: Monthly Performance Fee: 15% of the amount by which the total return of the class of units exceeds a 3% hurdle rate. Portfolio Manager: Justin Jacobsen, CFA
Pender Alternative Absolute Return Fund – June 30, 2024
Monthly
- Pender Alternative Absolute Return Fund – Profile Sheet – CAD – Class A
- Pender Alternative Absolute Return Fund – Profile Sheet – CAD – Class F
- Pender Alternative Absolute Return Fund – Profile Sheet – CAD – Class I
Annual (POS)
- Pender Alternative Absolute Return Fund – Fund Facts – CAD – Class A
- Pender Alternative Absolute Return Fund – Fund Facts – USD – Class A
- Pender Alternative Absolute Return Fund – Fund Facts – CAD – Class AF
- Pender Alternative Absolute Return Fund – Fund Facts – CAD – Class F
- Pender Alternative Absolute Return Fund – Fund Facts – USD – Class F
- Pender Alternative Absolute Return Fund – Fund Facts – CAD – Class H
- Pender Alternative Absolute Return Fund – Fund Facts – USD – Class H
- Pender Alternative Absolute Return Fund – Fund Facts – CAD – Class I
- Pender Alternative Absolute Return Fund – Fund Facts – USD – Class I
For More Visit: Legal & Financial
The Latest
Alternative Absolute Return – August 2024
Highlights Market returns were driven by a combination of positive carry, narrowing spreads and lower base government bond yields. Short positions in credit were detractors on the portfolio. Download the pdf Contributors to the Fund included a position in Legends Hospitality 5% 2026 bonds, and from several new issues in Canadian and US high-yield markets at particularly attractive levels. The Pender Alternative Absolute Return Fund finished August with a return of 0.21% bringing year to date return to 4.61%[1]. The Fund’s benchmark, the HFRI Credit Index (USD), returned 0.38% in August and 5.92% year-to-date. A sharp decline in risk assets…
Webinar (April 2024): Watch the Replay
Absolute Return Investing in the Current Fixed Income Landscape
in April 2024 Pender hosted a live webinar with Justin Jacobsen, who provided an update on the Fund and provided insight into the opportunities he is finding in the market.
If you missed this insightful live event, be sure to watch the replay.
For financial professionals only
Justin Jacobsen
Portfolio Manager
Justin is the Portfolio Manager of the Pender Alternative Absolute Return Fund. He joined Pender in August 2021.
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