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 (%) - November 29, 20241 Mo.3 Mo.6 Mo.1 Yr.2 Yr.3 Yr.5 Yr.10 Yr.15 Yr.YTDSince InceptionInception Date
A0.10.62.23.91.82.12.92.52021-09-01
F0.20.92.74.72.62.83.73.12021-09-01
Annual Performance (%)20162017201820192020202120222023YTD
A2.80.52.9
F3.11.33.7

Standard Performance Data is subject to important disclosures set out in our Disclaimer.

  • Asset AllocationLong (%)Short (%)
    US Equities73.6-2.8
    Canadian Equities20.0
    Cash9.2
    Sector AllocationLong (%)Short (%)
    Financial Services24.5
    Information Technology16.7
    Industrials10.3
    Materials9.9-1.1
    Cash9.2
    Health Care8.0
    Consumer Discretionary7.4
    Utilities5.5
    Communication Services3.0
    Banks2.2-0.8
    Insurance2.2
    Consumer Staples1.6
    Real Estate1.5
    Energy0.8-0.9
    Currency AllocationLong (%)Short (%)
    USD73.6-2.8
    CAD20.0
    Cash9.2
    Top 10 HoldingsFund (%)
    Mercer Park Opportunities Corp.3.0
    Nuvei Corporation2.8
    Atlantica Sustainable Infrastructure plc2.7
    Osisko Mining Inc.2.7
    WalkMe Ltd.2.6
    Hamilton Thorne Ltd.2.5
    R1 RCM Inc.2.5
    Envestnet, Inc.2.5
    PowerSchool Holdings, Inc.2.5
    Iteris, Inc.2.4
    Hope Bancorp, Inc.-0.1
    Tourmaline Oil Corp.-0.1
    Cleveland-Cliffs Inc.-0.2
    CoStar Group, Inc.-0.4
    WSP Global Inc.-0.5
    German American Bancorp, Inc.-0.7
    Chevron Corporation-0.8
    First Majestic Silver Corp.-1.3
    UMB Financial Corporation-1.8
    Chesapeake Energy Corporation-2.0
    Total Percentage of Top 10 Holdings26.20%
    Total Net Assets of Fund$16,413,410

  • 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 – September 30, 2024

    Resources

    Investment Process

    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 – October 2024

      Highlights The Fund initiated positions in 10 new merger deals and 13 deals held within the Fund closed. Capital from closed deals was recycled into new and existing mergers trading at attractive spreads. The Fund holds diverse exposure across sectors, geographies and deal types with a healthy mix of high quality financial and strategic acquisitions. At the end of October 2024, the Fund had 27 investments in small cap deals under $2 billion, 21 of which were valued at under $1 billion. Dear Unitholders, The Pender Alternative Arbitrage Fund was up 0.41%[1] in October 2024. The HFRI ED: Merger Arbitrage…

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    Amar Pandya

    Amar Pandya

    Portfolio Manager

    Amar Pandya is a Portfolio Manager at Pender. He joined the company in October 2017.

    Read More

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