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.

Visit the Pender Arbitrage Hub for all of our latest news, information and articles.

Performance (%) - March 31, 20251 Mo.3 Mo.6 Mo.1 Yr.2 Yr.3 Yr.5 Yr.10 Yr.15 Yr.YTDSince InceptionInception Date
A0.11.01.22.92.02.01.02.52021-09-01
F0.11.21.73.82.92.81.23.22021-09-01
Annual Performance (%)20172018201920202021202220232024YTD
A2.80.52.71.0
F3.11.33.71.2

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

  • Asset AllocationLong (%)Short (%)
    US Equities77.7-4.5
    Cash17.3
    Canadian Equities9.3
    Other Assets0.2
    Sector AllocationLong (%)Short (%)
    Financial Services24.1-0.8
    Cash17.3
    Health Care17.1
    Consumer Discretionary12.9
    Information Technology10.0
    Industrials7.7
    Materials4.6-1.6
    Real Estate3.1
    Utilities2.9
    Insurance2.3
    Energy1.7-1.3
    Banks0.8-0.8
    Currency AllocationLong (%)Short (%)
    USD77.9-4.5
    Cash17.3
    CAD9.3
    Top 10 HoldingsFund (%)
    Mercer Park Opportunities Corp.4.5
    Launch One Acquisition Corp.3.1
    Converge Technology Solutions Corp.2.6
    Everi Holdings Inc.2.5
    CI Financial Corp.2.4
    Melcor Real Estate Investment Trust2.3
    Paragon 28, Inc.2.3
    Pactiv Evergreen Inc.2.1
    Triumph Group, Inc.2.1
    Nordstrom, Inc.2.0
    Rocket Companies, Inc.-1.2
    Amcor plc-1.3
    Chevron Corporation-1.3
    Hope Bancorp, Inc.-1.3
    Total Percentage of Top 10 Holdings25.90%
    Total Net Assets of Fund$13,122,760

  • Class Code DescriptionMER1 Before Performance FeeTrailerPerformance Fee2Min. Investment: Initial/[Subsequent]
    APGF 2100Front End2.49%1.00%15% HWM$5,000/[$100]
    FPGF 2110Fee Based1.45%15% HWM$5,000/[$100]
    F (USD)PGF 2111Fee Based1.42%15% HWM$5,000/[$100]
    HPGF 2140Front End – HNW2.11%0.85%15% HWM$100,000/[$100]
    IPGF 2150Fee Based – HNW1.25%15% HWM$100,000/[$100]
    I (USD)PGF 2151Fee Based – HNW1.32%15% HWM$100,000/[$100]

    1 As at 31-12-2024. 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.

    2 15% of the amount by which the total return of the class of units exceeds its high water mark

    Asset Class: Alternative Merger Arbitrage
    Inception Date: September 1, 2021
    Valuation Frequency: Daily
    Distributions: DRIP Annually, Cash Optional
    Benchmark: HFRI ED: Merger Arbitrage Index (USD)
    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 – December 31, 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

      Pender Alternative Arbitrage Fund – February 2025

      Dear Unitholders, The Pender Alternative Arbitrage Fund and the Pender Alternative Arbitrage Plus Fund were up 0.4% and 0.6%[1] respectively in February 2025 while the HFRI ED: Merger Arbitrage Index (USD) returned 0.7%[2]. Download the PDF. M&A Market Update Global M&A activity was over $617 billion in early March in-line with the same period last year[3]. In the US however there was a 24% decline in M&A compared to the same time last year as market volatility and the unease around tariffs likely led to a pause in activity. February experienced a drought in mega-merger deals greater than $10 billion…

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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.

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