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.

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Since Inception returns are from January 2020. All returns greater than a year are annual compounded returns.

Performance (%) - December 31, 20241 Mo.3 Mo.6 Mo.1 Yr.2 Yr.3 Yr.5 Yr.10 Yr.15 Yr.YTDSince InceptionInception Date
A-0.30.44.77.36.82.17.32.92020-01-31
F-0.20.55.08.07.42.68.03.32020-01-31
Annual Performance (%)20172018201920202021202220232024YTD
A1.5-6.96.47.37.3
F2.0-6.46.98.08.0
Distributions Per Unit ($)May'24Jun'24Jul'24Aug'24Sep'24Oct'24Nov'24Dec'24Since Inception
A0.030.030.030.020.020.030.020.021.49
F0.030.040.030.020.030.030.020.021.70

Standard Performance Data is subject to important disclosures set out in our Disclaimer.

  • Asset Allocation(%)
    Canadian Corporate Bonds35.6
    US Corporate Bonds34.1
    Government Bonds16.1
    Foreign Corporate Bonds8.7
    Other Assets2.9
    Cash2.6
    Sector Allocation(%)
    Industrials17.1
    Government Bonds16.1
    Utilities14.4
    Energy10.4
    Information Technology7.5
    Consumer Discretionary6.2
    Consumer Staples6.0
    Other Sectors5.7
    Insurance5.4
    Health Care4.9
    Real Estate3.7
    Cash2.6
    Currency Allocation(%)
    CAD57.3
    USD42.7
    Top 10 HoldingsFund (%)
    Pender Corporate Bond Fund20.7
    Waste Management of Canada Corporation, 2.600%, 23-Sep-265.9
    Thomson Reuters Corporation, 2.239%, 14-May-255.6
    McDonald's Corporation, 4.857%, 21-May-315.0
    Government of Canada, 2.250%, 01-Jun-294.1
    Verisign Inc, 4.750%, 15-Jul-273.4
    Cameco Corporation, 2.950%, 21-Oct-273.1
    Loblaw Companies Limited, 4.488%, 11-Dec-283.1
    FirstEnergy Corp., 2.650%, 01-Mar-303.0
    Fairfax Financial Holdings Limited, 4.700%, 16-Dec-262.7
    Total Percentage of Top 10 Holdings56.60%
    Total Net Assets of Fund$83,954,980
  • Class Fund Codes Description MER*  Minimum Investment: Initial/[Subsequent]
    A PGF 1400 Front End 1.18% $5,000 / [$100]
    F PGF 1410 Fee Based 0.64% $5,000 / [$100]
    F (US$) PGF 1411 Fee Based 0.67% $5,000 / [$100]

    *As at 2024-06-30. 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: Fixed Income Securities
    Inception Date: January 31, 2020
    Valuation Frequency: Daily
    Eligibility: Canada-Wide, Registered Plans
    Distributions: Drip Monthly, cash optional
    Benchmark: FTSE/TMX Universe Bond Index

    Portfolio Manager: Geoff Castle

    Associate Portfolio Manager: Emily Wheeler, CFA

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  • The Latest

    Bond Universe – Q4 2024

    Highlights Positive contributors to the Fund included TXNM Energy 5.75% ’54 convertible bonds via the combination of price appreciation and a competitive coupon, and OPKO Health Inc. 3.75% ’29 convertible bonds. The Fund added Duke Energy’s 4.125% ’26 convertible bonds. With US High Yield spreads significantly below average, we took a cautious disposition toward lower tier credit, hence the Fund did not add any material exposure here over the period. The Class F units of the Pender Bond Universe Fund were up 0.5% in the final three months of 2024. During a quarter characterized by headwinds on the rate side,…

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