January 11, 2022

Enhanced Income Fund – Featured

Written by Evan Warburton

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Balanced Funds – Manager’s Commentary – Q3 2021

Dear unitholders, The Pender Strategic Growth & Income Fund (PSGIF) was down 1.8%[1] and the Pender Enhanced Income Fund (PEIF) was down 1.5%[1] for the quarter. On a year-to-date basis, PSGIF was up 16.3%[1], while PEIF was up 21.0%[2]. The long-term performance of PSGIF remains solid, with 5-year annualized returns of 8.8%[3]. PSGIF and PEIF are largely mirrored portfolios, but the PEIF has a material amount of tax losses available to shelter taxable income. This commentary refers to PSGIF unless otherwise noted. Download PDF At the end of the quarter, the equity weighting in PSGIF stood at 61.3%. This is down…

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