Corporate Bond Fund – Featured

January 11, 2022
Written by Evan Warburton

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Fixed Income – August 2023

Highlights: • Positive contributors to the Fund were Cineworld Group PLC and Federal National Mortgage Association (Fannie Mae). Detractors included Canadian rate-reset preferred shares due to negative price momentum, and Emergent BioSolutions, which we have added to on price weakness. • New positions include Nuveen Quality Municipal Income Fund (NAD US Equity), a closed-end fund that holds a variety of highly rated US municipal issues, and bonds in Mexican national oil company, Petroleos Mexicanos (Pemex). The Pender Corporate Bond Fund returned a modest 0.1% in August, a period that was characterized by slightly higher benchmark rates and selective risk asset…

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