Class Fund Codes Description MER* Minimum Investment: Initial/[Subsequent] F PGF 2110 Fee Based 2.92% $5,000 / [$100] H PGF 2140 Front End – HNW 3.70% $100,000 / [$100] I PGF 2150 Fee Based – HNW 2.53% $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 2101 Front End 1.80% 0.50% $5,000 / [$100] F (US$) PGF 2111 Fee Based 0.80% 0.50% $5,000 / [$100] I (US$) PGF 2151 Fee Based – HNW 0.65% 0.50% $100,000 / [$100] 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 – March 31, 2023
Resources
Monthly
Pender Alternative Arbitrage Fund – Profile Sheet – Class A
Pender Alternative Arbitrage Fund – Profile Sheet – 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)
For More Visit: Legal & Financial
The Latest
Alternative Arbitrage – April 2023
HIGHLIGHTS April saw a return to a more normalized merger arbitrage market following a volatile March fraught with regulatory pushback and increased uncertainty due to the regional banking crisis. A benefit of the elevated volatility and regulatory risk was a widening of arbitrage spreads. We continue to see favourable conditions for deal activity in the small and mid-cap space with valuations dislocated there. The healthcare sector has seen a significant spike in activity this year, with deal volumes surpassing 2022 levels by nearly 50%. The Fund initiated positions in 13 new or previously announced merger deals during April, including several…
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.
