Pender Alternative Special Situations Fund
The Pender Alternative Special Situations Fund aims to identify investment opportunities that the Manager believes represent special situations – when a company is undergoing a value changing event which has not yet been recognized by the market. There are often opportunities for companies and industries when there is a change in fundamentals, sentiment or momentum or another catalyst present, such as a restructuring. The Fund aims to achieve long-term capital appreciation by investing primarily in Canadian and US equities with the ability to also invest in debt and other securities.
As at Sept. 1, 2022 (the “Conversion Date”), the Fund amended its investment objectives and strategies and converted from a conventional mutual fund to an alternative mutual fund. For further information, please see the news release under the Documents tab and the Simplified Prospectus dated August 29, 2022, available on SEDAR+ at www.sedarplus.ca or under the Legal & Financial tab.
As of the Conversion Date, as an alternative mutual fund, the Fund is permitted to invest in asset classes or use investment strategies that are not permitted for conventional mutual funds. The specific strategies that differentiate this Fund from conventional mutual funds include: increased use of derivatives for hedging and non-hedging purposes; increased ability to sell securities short; the ability to borrow cash to use for investment purposes; and increased ability to invest in physical commodities. While these strategies will be used in accordance with the Fund’s investment objectives and strategies, during certain market conditions they may accelerate the pace at which your investment decreases in value. Due to these changes, performance of the Fund prior to the Conversion Date which relates to the Fund’s previous investment objectives and strategies may differ from future performance of the Fund after the Conversion Date under its new investment objectives and strategies.
Class Fund Codes Description MER* before performance fee MER* Minimum Investment: Initial/[Subsequent] A PGF 1500 Front End 0.00% 0.00% $5,000 / [$100] F PGF 1510 Fee Based 0.00% 0.00% $5,000 / [$100] H PGF 1540 Front End – HNW 0.00% 0.00% $100,000 / [$100] I PGF 1550 Fee Based – HNW 0.00% 0.00% $100,000 / [$100] *MER was NIL as at 2023-12-31 due to waiver of fees. 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 Equity Focused Inception Date: July, 2020 Valuation Frequency: Daily Eligibility: Canada-wide, Registered Plans Distributions: DRIP annually, cash optional Benchmark: S&P/TSX Composite Index Performance Fee: 15% of the amount by which the total return of the class of units exceeds a 6% hurdle rate
Portfolio Manager: Amar Pandya, CFA
Resources
Know Your Product
Monthly
Pender Alternative Special Situations Fund – Profile Sheet – CAD – Class A
Pender Alternative Special Situations Fund – Profile Sheet – CAD – Class F
Annual (POS)
- Pender Alternative Special Situations Fund – Fund Facts – CAD – Class A
- Pender Alternative Special Situations Fund – Fund Facts – CAD – Class F
- Pender Alternative Special Situations Fund – Fund Facts – CAD – Class H
- Pender Alternative Special Situations Fund – Fund Facts – CAD – Class I
For More Visit: Legal & Financial
Standard Performance Data is subject to important disclosures set out in our Disclaimer
Amar Pandya
Portfolio Manager
Amar Pandya is a Portfolio Manager at Pender. He joined the company in October 2017.
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