Bond Universe Fund – Featured
January 11, 2022
The Latest
Pender Bond Universe Fund – Q4 2024
Highlights Positive contributors to the Fund included TXNM Energy 5.75% ’54 convertible bonds via the combination of price appreciation and a competitive coupon, and OPKO Health Inc. 3.75% ’29 convertible bonds. The Fund added Duke Energy’s 4.125% ’26 convertible bonds. With US High Yield spreads significantly below average, we took a cautious disposition toward lower tier credit, hence the Fund did not add any material exposure here over the period. The Class F units of the Pender Bond Universe Fund were up 0.5% in the final three months of 2024. During a quarter characterized by headwinds on the rate side,…
