Strategic Growth and Income Fund – Featured
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Balanced Funds – Q4 2022
HIGHLIGHTS Our equity exposure to energy companies led the way with Spartan Delta Corp. (TSX: SDE), ARC Resources Ltd. (TSX: ARX), and Texas Pacific Land Corporation (NYSE: TPL) among the top five contributors. Defense contractor Northrup Grumman Corporation (NYSE: NOC) was also among the top contributors. CCL Industries Inc. (TSX: CCL.B) was a detractor however we see it as a long-term compounder of shareholder value. Our exposure to the Pender Small Cap Opportunities Fund contributed positively. The market dislocation has allowed us to add high-quality businesses where we have the highest conviction levels. Our exposure to the Pender Corporate Bond…