Corporate Bond Fund – Featured
January 11, 2022
The Latest
Fixed Income – April 2025
The Pender Corporate Bond Fund returned -3.0%[1] in April, a sobering result within the context of a turbulent market. Credit spreads reset significantly wider and yield curves steepened during the month. Download the PDF. Performance Discussion Our single largest impact was in the Spirit Aviation Holdings, Inc. capital structure. Spirit’s bonds and reorganized equity fell approximately 10% and 50% respectively as the company fully emerged as a listed public entity. Although newly emerging reorganized companies often face difficulty in their market debuts, the volatility in Spirit’s case was probably amplified by travel boycotts and economic uncertainty that impacted markets in…
