January 11, 2022

Alternative Arbitrage Fund – Featured

Written by Evan Warburton

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Alternative Arbitrage – Manager’s Commentary – May 2022

Dear Unitholders, The Pender Alternative Arbitrage Fund (PAAF) ended the month of May 2022 with a NAV of $10.23 per unit[1]. M&A activity remains elevated with over $1.8T of deals announced globally at the end of May, a total that has only been exceeded three times in history2. A total of $377B of merger deals were announced in May, making last month the third-highest May total on record. Technology continues to lead M&A activity by value and volume, with over $476B of merger deals announced in the sector, which represents 26% of total M&A. Download PDF Despite high levels of…

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