Performance (%) – October 31, 2023 1 Mo. 3 Mo. 6 Mo. 1 Yr. 2 Yr. 5 Yr. 10 Yr. YTD Since Inception Class A -1.5 -1.5 -1.7 -0.9 1.2 -1.5 1.5 Class F -1.2 -1.2 -1.2 -0.1 1.7 -0.7 2.1 
Class Fund Codes Description MER* before performance fee MER* Minimum Investment: Initial/[Subsequent] A PGF 2100 Front End 2.46% 2.46% $5,000 / [$100] F PGF 2110 Fee Based 1.42% 1.48% $5,000 / [$100] H PGF 2140 Front End – HNW 2.10% 2.10% $100,000 / [$100] I PGF 2150 Fee Based – HNW 1.24% 1.37% $100,000 / [$100] F (US$) PGF 2111 Fee Based 1.41% 1.51% $5,000 / [$100] I (US$) PGF 2151 Fee Based – HNW 1.21% 1.40% $100,000 / [$100] *As at 2023-06-30. The management expense ratio (“MER”) is calculated based on expenses charged to the fund inclusive of applicable taxes including GST and HST (excluding commissions and other portfolio transaction costs) and is expressed as an annualized percentage of average net assets for the period/year. The applicable taxes are calculated using the attribution percentage for each province based on unitholder residency.
Asset Class: Alternative Merger Arbitrage Inception Date: September 8, 2021 Risk Rating: Low Valuation Frequency: Daily Distributions: Annually in December Performance Fee: 15% of the amount by which the total return of the class of units exceeds its high-water mark Portfolio Manager: Amar Pandya, CFA Know Your Product
Pender Alternative Arbitrage Fund – September 30, 2023
Resources
Monthly
Pender Alternative Arbitrage Fund – Profile Sheet – CAD – Class A
Pender Alternative Arbitrage Fund – Profile Sheet – CAD – Class F
Annual (POS)
Pender Alternative Arbitrage Fund – Fund Facts – CAD – Class A
Pender Alternative Arbitrage Fund – Fund Facts – CAD – Class F
Pender Alternative Arbitrage Fund – Fund Facts – USD – Class F
Pender Alternative Arbitrage Fund – Fund Facts – CAD – Class H
Pender Alternative Arbitrage Fund – Fund Facts – CAD – Class I
Pender Alternative Arbitrage Fund – Fund Facts – USD – Class I
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The Latest
Alternative Arbitrage Fund – October 2023
Highlights October was a tough month for markets as recessionary fears and higher bond yields pressured markets. In October, the Fund initiated positions in 23 new or previously announced mergers, while 20 merger deals held within the Fund closed during the month. We are cautiously optimistic on M&A potential through the year-end with commentary from investment bank earnings indicating there is pent up demand. Download the PDF. Dear Unitholders, The Pender Alternative Arbitrage Fund was down 1.2%[1] in October 2023. M&A Market Update Global M&A activity totaled $2.4 trillion through the first ten months of 2023, a 20% decline from…
Standard Performance Data is subject to important disclosures set out in our Disclaimer
Amar Pandya
Portfolio Manager
Amar Pandya is a Portfolio Manager at Pender. He joined the company in October 2017.
