Corporate Bond Fund – Featured
January 11, 2022
The Latest
Fixed Income – December 2024
Highlights Strong performance in December; top contributors included the preferred shares issued by Fannie Mae and Freddie Mac which tripled in value during 2024, a term loan in American Tire Distributors Inc, and the convertible bonds of Revance Therapeutics Inc. Detractors this month were rate sensitive holdings including longer duration TIPS, Cardlytics Inc, and MP Materials Corp. New positions include adding to the credits of regulated utilities, Duke Energy Corp convertible bonds, and Crowdstrike Holdings Inc 2029 notes. The Pender Corporate Bond Fund returned 0.7% in December[1], capping an excellent year in which the Fund delivered a total return of…
