Pender Alternative Multi-Strategy Income Fund
The Pender Alternative Multi-Strategy Income Fund aims to generate returns through current income and capital appreciation, while being sufficiently diversified to mitigate volatility and preserve capital.
Undertaking research into fundamentals, the Manager will identify what we believe are attractive risk adjusted return opportunities to build a diversified portfolio. The Manager believes that private and public securities are priced inefficiently and, as a result, the price of any given security only occasionally coincides with its intrinsic value and we aim to generate returns by identifying and exploiting these inaccuracies.
The Fund will invest primarily in North American securities and may also invest in foreign securities.
As at Sept. 1, 2022 (the “Conversion Date”), the Fund amended its investment objectives and strategies and converted from a conventional mutual fund to an alternative mutual fund. For further information, please see the news release under the Documents tab and the Simplified Prospectus dated August 29, 2022, available on SEDAR+ at www.sedarplus.ca or under the Legal & Financial tab.
Performance information for this Fund will be added at the one year anniversary of the Fund’s Conversion Date, however please find an annual and monthly fund fact sheets under the Documents tab.
As of the Conversion Date, as an alternative mutual fund, the Fund is permitted to invest in asset classes or use investment strategies that are not permitted for conventional mutual funds. Prior to the Conversion Date, the Fund was a Canadian and US Equity Fund with the primary objective to achieve capital growth over the long-term, while being sufficiently diversified to mitigate volatility. After the Conversion Date, the Fund will be an Alternative Multi-Strategy Income Fund with the primary objective to preserve capital and to generate returns through current income and capital appreciation, while being sufficiently diversified to mitigate volatility. Due to these significant material changes, performance of the Fund prior to the Conversion Date which relates to the Fund’s previous investment objectives and strategies are expected to differ substantially from future performance of the Fund after the Conversion Date under its new investment objectives and strategies.
Holdings information for this Fund will be added at the one year anniversary of the Fund’s Conversion Date, however please find an annual and monthly fund fact sheets under the Documents tab.
As of the Conversion Date, as an alternative mutual fund, the Fund is permitted to invest in asset classes or use investment strategies that are not permitted for conventional mutual funds. Prior to the Conversion Date, the Fund was a Canadian and US Equity Fund with the primary objective to achieve capital growth over the long-term, while being sufficiently diversified to mitigate volatility. After the Conversion Date, the Fund will be an Alternative Multi-Strategy Income Fund with the primary objective to preserve capital and to generate returns through current income and capital appreciation, while being sufficiently diversified to mitigate volatility. Due to these significant material changes, performance of the Fund prior to the Conversion Date which relates to the Fund’s previous investment objectives and strategies are expected to differ substantially from future performance of the Fund after the Conversion Date under its new investment objectives and strategies.
Class Fund Codes Description MER* (excluding performance fees and including GST/HST) MER* (including performance fees and GST/HST) Minimum Investment: Initial/[Subsequent] A PGF 1200 Front End 2.56% 2.56% $5000 / [$100] F PGF 1210 Fee Based 1.47% 1.64% $5000 / [$100] I PGF 1250 Fee Based – HNW 1.29% 1.49% $100,000 / [$100] * MERs are as of 2023-06-30
Asset Class: Alternative Multi-Strategy Inception Date: September 1, 2022 Valuation Frequency: Daily Eligibility: Canada-Wide, Registered Plans Distributions: DRIP quarterly, cash optional Benchmark: 9% FTSE Canada Universe Bond Index,
25% ICE BofA US High Yield Index,
33% HFRI Credit Index (Hedged to CAD),
33% HFRI ED: Merger Arbitrage Index (Hedged to CAD)Performance Fee: Performance fees equal 15% of the amount by which the total return of the class of units exceeds a 3% hurdle rate
Portfolio Manager: David Barr, CFA.
Resources
Monthly
Pender Alternative Multi-Strategy Income Fund – Class F
Annual (POS)
- Pender Alternative Multi-Strategy Income Fund- Fund Facts – CAD – Class A
- Pender Alternative Multi-Strategy Income Fund – Fund Facts – CAD – Class F
- Pender Alternative Multi-Strategy Income Fund – Fund Facts – CAD – Class I
For More Visit: Legal & Financial
David Barr
CEO & Portfolio Manager
Mr. Barr is the CEO of Pender. He is also the Portfolio Manager of several of Pender’s funds.
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