The Pender Alternative Absolute Return Fund is a flexible, high yield focused alternative credit strategy that aims to produce positive absolute returns at all stages of the economic cycle. This low-risk strategy can be used to provide diversification benefits to clients with low correlation to traditional equity and fixed income investments.
Performance (%) – Apr. 30 2022 | 1 Mo. | 3 Mo. | 6 Mo. | 1 Yr. | 3 Yr. | 5 Yr. | 10 Yr. | YTD | Since Inception |
---|---|---|---|---|---|---|---|---|---|
Class A | 0.8 | 1.4 | 4.4 | 7.0 | 2.9 | 6.6 | |||
Class F | 0.8 | 1.7 | 4.7 | 7.7 | 3.2 | 7.2 |
Class | Fund Codes | Description | MER* | Minimum Investment: Initial/[Subsequent] |
A | PGF 2000 | Front End | 4.04% | $5,000 / [$100] |
F | PGF 2010 | Fee Based | 3.57% | $5,000 / [$100] |
H | PGF 2040 | Front End – HNW | 4.18% | $100,000 / [$100] |
I | PGF 2050 | Fee Based – HNW | 3.45% | $100,000 / [$100] |
* MERs are as of 2022-12-31
Class | Fund Codes | Description | Management Fee | Admin Fee | Minimum Investment: Initial/[Subsequent] |
A (US$) | PGF 2001 | Front End | 1.80% | 0.50% | $5,000 / [$100] |
F (US$) | PGF 2011 | Fee Based | 0.80% | 0.50% | $5,000 / [$100] |
H (US$) | PGF 2041 | Front End – HNW | 1.50% | 0.50% | $100,000 / [$100] |
I (US$) | PGF 2051 | Fee Based – HNW | 0.65% | 0.50% | $100,000 / [$100] |
Asset Class: Alternative Absolute Return |
Inception Date: September 1, 2021 |
Risk Rating: Low |
Valuation Frequency: Daily |
Distributions: Monthly |
Performance Fee: 15% of the amount by which the total return of the class of units exceeds a 3% hurdle rate. |
Portfolio Manager: Justin Jacobsen, CFA |
Pender Alternative Absolute Return Fund – March 31, 2023
Pender Alternative Absolute Return Fund – Profile Sheet – Class A
Pender Alternative Absolute Return Fund – Profile Sheet – Class F
Pender Alternative Absolute Return Fund – Profile Sheet – Class I
For More Visit: Legal & Financial
HIGHLIGHTS With improved valuations, the Fund added to long credit positions, while also topping up short positions in equity index ETFs. We believe that the divergence between credit and equities, which has been widening since March, will eventually mean revert, as credit conditions are typically a leading indicator of economic activity and asset prices. The Fund has maintained equity index hedges for the past 18 months, but we have tilted the Fund towards large-cap indices recently in response to valuations. We believe that some of the most mispriced securities in the market are preferred shares and the Fund established positions…
Standard Performance Data is subject to important disclosures set out in our Disclaimer
Justin is the Portfolio Manager of the Pender Alternative Absolute Return Fund. He joined Pender in August 2021.
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