Bond Universe Fund – Featured
January 11, 2022
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Bond Universe – Mar-Jun 2023
Highlights Positive contributors were shorter-dated, higher-quality lines as well as the Fund’s exposure to credit through the Pender Corporate Bond Fund. With high-yield spreads remaining at approximately 4% at quarter-end and with indicators skewed to the likelihood of recession, the Fund’s exposure to credit remains towards the lowest since the Fund’s inception. --- For the three months to June 30, 2023, The Pender Bond Universe Fund declined 0.3%[1] on an absolute basis, however the Fund relatively outperformed its benchmark over the period by 0.4%. With yields higher along the curve over the quarter, several shorter-dated, high-quality lines provided ballast. The…
