PenderFund Provides Updates on its Fixed Income Funds and Team
VANCOUVER, B.C. PenderFund Capital Management Ltd. (“Pender”) is pleased to provide some updates for clients of our fixed income investment funds.
The Pender Bond Universe Fund (the “Fund”) passed its three-year anniversary on January 31, 2023. After reporting strong performance relative to its category in 2021 and 2022, we are pleased to report that 3-year return for Class F of the Fund is 1.2%1, placing it in the top quartile ranking on Morningstar.
In addition, the Fund, along with the Pender Corporate Bond Fund have both recently been recognized with Fundata FundGrade A+® awards. The awards are quantitatively calculated, with monthly metrics contributing to an annual ‘GPA’ which then qualifies funds that have consistently outperformed their peers on a risk-adjusted basis for the entire year for an A+2.
We are also delighted to announce that Emily Wheeler has been promoted to Portfolio Manager and will continue managing the Pender Bond Universe Fund, alongside Geoff Castle, Lead Portfolio Manager of Pender’s Fixed Income Portfolios.
“Pender’s fixed income team has enjoyed a great deal of success over the last seven years”, said Felix Narhi, Chief Investment Officer. “Not only have both fixed income funds achieved top quartile long-term performance under Geoff’s leadership, but his team has strengthened and deepened their circles of competence, which we believe bodes well for continued solid performance for our valued clients.”
“We’re very pleased with the strong relative performance of the Pender Bond Universe Fund and Emily’s promotion is also indicative of the progress we have made in building our bench strength in fixed income investing at Pender,” commented Geoff Castle, Lead Manager of Pender’s Fixed Income Portfolios. “We remain committed to the diligent application of our investment process in this mandate in the years ahead.”
About Pender Bond Universe Fund
The Pender Bond Universe Fund is an income fund with an investment grade focus. The objective of the Fund is to preserve capital and generate returns through current income and capital appreciation. The Fund invests primarily in investment grade fixed income securities. This, however, does not preclude the Fund from making equity investments when the Portfolio Manager deems the risk/reward trade-off to be in the investors’ favor.
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.
Standard Performance Data for Pender’s Fixed Income Funds may be found here:
www.penderfund.com/fixed-income
Please read important disclosures at www.penderfund.com/disclaimer.
1 All Pender performance data points are for Class F of the Fund. Other classes are available. Fees and performance may differ in those other classes.
2 Fundata Fundgrade A+® Methodology: https://www.fundata.com/images/FundataFundgradeMethodology.pdf
Disclosure
*FundGrade A+® is used with permission from Fundata Canada Inc., all rights reserved. The annual FundGrade A+® Awards are presented by Fundata Canada Inc. to recognize the “best of the best” among Canadian investment funds. The FundGrade A+® calculation is supplemental to the monthly FundGrade ratings and is calculated at the end of each calendar year. The FundGrade rating system evaluates funds based on their risk-adjusted performance, measured by Sharpe Ratio, Sortino Ratio, and Information Ratio. The score for each ratio is calculated individually, covering all time periods from 2 to 10 years. The scores are then weighted equally in calculating a monthly FundGrade. The top 10% of funds earn an A Grade; the next 20% of funds earn a B Grade; the next 40% of funds earn a C Grade; the next 20% of funds receive a D Grade; and the lowest 10% of funds receive an E Grade. To be eligible, a fund must have received a FundGrade rating every month in the previous year. The FundGrade A+® uses a GPA-style calculation, where each monthly FundGrade from “A” to “E” receives a score from 4 to 0, respectively. A fund’s average score for the year determines its GPA. Any fund with a GPA of 3.5 or greater is awarded a FundGrade A+® Award. For more information, see www.FundGradeAwards.com. Although Fundata makes every effort to ensure the accuracy and reliability of the data contained herein, the accuracy is not guaranteed by Fundata.
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
