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.
Class | Fund Codes | Description | MER* | Minimum Investment: Initial/[Subsequent] |
A | PGF 1400 | Front End | 1.16% | $5,000 / [$100] |
F | PGF 1410 | Fee Based | 0.64% | $5,000 / [$100] |
D | PGF 1460 | Discount Brokerage | 0.82% | $5,000 / [$100] |
*As at 2021-12-31
Asset Class: Fixed Income Securities |
Inception Date: January 31, 2020 |
Valuation Frequency: Daily |
Eligibility: Registered Plans |
Distributions: Drip Monthly, cash optional |
Benchmark: FTSE/TMX Universe Bond Index |
Portfolio Manager: Geoff Castle Associate Portfolio Manager: Emily Wheeler, CFA |
For More Visit: Legal & Financial
In the quarter ended April 30, 2022, the Fund outperformed its benchmark. With the FTSE/TMX Canada Universe Bond Index down 7.0% over the past three months, the Pender Bond Universe Fund’s (PBUF) Class F return of negative 3.9%[1] showed relative strength over the period. Against a backdrop of rising yields along the curve in Canada and the US, Q1 2022 came in as the worst quarterly total return on record for US Investment Grade[2]. The relative outperformance of the Fund compared to its benchmark over this period was achieved through a combination of tight relative duration and exposure to the…
Mr. Castle is the Portfolio Manager of the Pender Corporate Bond Fund and the Pender Bond Universe Fund. He began his investing career in 2000 and has experience in both public mutual funds and proprietary investment fund management for ultra-high net worth individuals.
Emily Wheeler is the Associate Portfolio Manager of the Pender Bond Universe Fund. She began her investing career in 2004. Prior to joining Pender she was at a Vancouver-based investment firm that ran mandates including value, fixed income, growth and several alternative strategies.
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