PenderFund Capital Management Announces One-Year Anniversary of Liquid Alternative Funds
VANCOUVER, B.C. PenderFund Capital Management Ltd. (“Pender”) is pleased to announce one-year updates on our actively managed liquid alternative mutual funds, as well as the launch of the Pender Alternative Arbitrage Plus Fund.
The Pender Alternative Absolute Return Fund (“PAARF”) is a flexible, high-yield-focused alternative credit strategy that aims to produce positive absolute returns at all stages of the economic cycle.
PAARF | 1 Month | 3 Month | 6 Month | 1 Year | YTD | Since Inception (Sept 1, 2021) |
Class F | 1.5% | 1.8% | 1.9% | 5.2% | 2.9% | 5.2% |
“Our flexible mandate gives us the ability to generate returns from both a solid income base and tactical opportunistic trading. The portfolio is nimble, able to hedge unwanted risk exposures and provides a differentiated offering in the Liquid Alternatives credit landscape,” said Justin Jacobsen, Portfolio Manager of the Fund. “I’m also pleased to announce our investment team is growing with Rachel Zhang, CFA, recently joining us as analyst.”
For more information on PAARF visit www.penderfund.com/pender-alternative-absolute-return-fund/. Financial professionals are also invited to attend a fund update webinar via Webex. Register to join us on Wednesday, September 28 2022 at 10am PT / 1pm ET here: https://forms.office.com/r/vpJ3qYPYx5
The Pender Alternative Arbitrage Fund (“PAAF”) is a market-neutral strategy that aims for consistent and steady absolute returns by employing Pender’s proven expertise in identifying and analyzing M&A targets, particularly in the small- and mid-cap space.
Visit www.penderfund.com/pender-alternative-arbitrage-fund/
PAAF | 1 Month | 3 Month | 6 Month | 1 Year* | YTD | Since Inception (Sept 8, 2021) |
Class F | 1.1% | 1.8% | 2.2% |
| 2.2% | 4.3% |
*1 year performance is unavailable as the Fund’s inception date was September 8, 2021. Please refer to return since inception.
Portfolio Manager, Amar Pandya commented, “Today, we see an attractive investment environment with merger arbitrage spreads wide relative to history and a strong M&A backdrop creating a broad range of opportunities for the Fund. The anomaly in SPACs that are trading at a steep discount to trust value also provides a timely opportunity for disciplined buyers.” He added, “Given the caliber of high conviction opportunities we are seeing and the potential to enhance returns using leverage, I am pleased to announce that we have launched the Pender Alternative Arbitrage Plus Fund.”
The Pender Alternative Arbitrage Plus Fund was launched on September 1, 2022 and will target leverage of 1.5X to 2.0X to PAAF with similar strategy, deals and risk process.
Visit www.penderfund.com/pender-alternative-arbitrage-plus-fund/
Financial professionals are also invited to a Webex webinar on both Pender’s arbitrage funds. Register to join us on Wednesday, October 5 2022 at 10amPT / 1pm ET here: https://forms.office.com/r/TT0aE31BsK
Liquid Alternative Funds
These funds are designed to have lower volatility and drawdowns and to provide low correlation to traditional asset classes such as equities and fixed income with tax efficient returns.
About PenderFund Capital Management Ltd.
Pender was founded in 2003 and is an independent, employee-owned investment firm located in Vancouver, British Columbia. Our goal is to protect and grow wealth for our investors over time. We have a talented investment team of expert analysts, security selectors and independent thinkers who actively manage a suite of differentiated investment funds, exploiting inefficient parts of the investing universe to achieve our goal. Please visit www.penderfund.com.
Please read important disclosures at www.penderfund.com/disclaimer.
For further information, please contact:
Melanie Moore
Vice President of Marketing, PenderFund Capital Management Ltd.
mmoore@penderfund.com
(604) 688-1511
Toll Free: (866) 377-4743
