Pender Alternative Arbitrage Fund
The Pender Alternative Arbitrage Fund aims to produce consistent and low volatility absolute returns by investing primarily in merger arbitrage opportunities. 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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| 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 | 0.1 | 1.6 | 2.1 | 3.3 | 1.8 | 2.3 | 2.6 | 2021-09-08 | F | 0.2 | 1.8 | 2.6 | 4.0 | 2.5 | 2.9 | 3.1 | 2021-09-08 |
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| Annual Performance (%) | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | YTD | A | 2.8 | 0.5 | 2.3 | F | 3.1 | 1.3 | 2.9 |
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Standard Performance Data is subject to important disclosures set out in our Disclaimer.
Class Fund Codes Description MER* before performance fee MER* Minimum Investment: Initial/[Subsequent] A PGF 2100 Front End 2.48% 3.04% $5,000 / [$100] F PGF 2110 Fee Based 1.45% 2.24% $5,000 / [$100] H PGF 2140 Front End – HNW 2.10% 2.70% $100,000 / [$100] I PGF 2150 Fee Based – HNW 1.25% 1.98% $100,000 / [$100] F (US$) PGF 2111 Fee Based 1.42% 2.40% $5,000 / [$100] I (US$) PGF 2151 Fee Based – HNW 1.32% 2.40% $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 Merger Arbitrage Inception Date: September 8, 2021 Risk Rating: Low Valuation Frequency: Daily Distributions: Annually in December Performance Fee: 15% of the amount by which the total return of the class of units exceeds its high-water mark Portfolio Manager: Amar Pandya, CFA Know Your Product
Pender Alternative Arbitrage Fund – June 30, 2024
Resources
Monthly
Pender Alternative Arbitrage Fund – Profile Sheet – CAD – Class A
Pender Alternative Arbitrage Fund – Profile Sheet – CAD – Class F
Annual (POS)
Pender Alternative Arbitrage Fund – Fund Facts – CAD – Class A
Pender Alternative Arbitrage Fund – Fund Facts – CAD – Class F
Pender Alternative Arbitrage Fund – Fund Facts – USD – Class F
Pender Alternative Arbitrage Fund – Fund Facts – CAD – Class H
Pender Alternative Arbitrage Fund – Fund Facts – CAD – Class I
Pender Alternative Arbitrage Fund – Fund Facts – USD – Class I
Pender Alternative Arbitrage Fund – Fund Facts – CAD – Class AF
Pender Alternative Arbitrage Fund – Fund Facts – CAD – Class FF
For More Visit: Legal & Financial
The Latest
Alternative Arbitrage Fund – July 2024
Highlights July was another positive month for Fund as several of the larger holdings closed allowing us to harvest and redeploy capital. Key deals included: Apartment Income REIT, Vericity Inc, National Western Life Insurance Co, Everbridge Inc and Argonaut Gold Inc. Performance also benefitted from buoyant equity markets, robust deal activity and outperformance of small cap equites driving a tightening of yields in the majority of deals in the Fund. The Fund initiated positions in 19 new merger deals and 14 deals in the Fund closed. Dear Unitholders, The Pender Alternative Arbitrage Fund was up 0.7%[1] in July 2024. The…
Amar Pandya
Portfolio Manager
Amar Pandya is a Portfolio Manager at Pender. He joined the company in October 2017.
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