The Pender Corporate Bond Fund is an income fund that is both conservatively managed to preserve capital, as well as opportunistic to generate returns. The Fund is focused on key credit characteristics – coverage, seniority and duration. It is driven by bottom up fundamental analysis, the Fund seeks to use its nimble size to invest in opportunities large or index based funds cannot. This advantage could provide investors with an attractive cash yield, while maintaining positions in attractively valued securities that provide a margin-of-safety for investors.
Class | Fund Codes | Description | MER* | Minimum Investment: Initial/[Subsequent] |
A | PGF 500 | Front End | 2.06% | $5,000 / [$100] |
F | PGF 510 | Fee Based | 1.19% | $5,000 / [$100] |
H | PGF 540 | Front End – HNW | 1.73% | $100,000 / [$100] |
I | PGF 550 | Fee Based – HNW | 1.03% | $100,000 / [$100] |
U | PGF 518 | Fee Based | 1.16% | $5,000 / [$100] |
A (US$) | PGF 501 | Front End | 2.08% | US$5,000/ [US$100] |
F (US$) | PGF 511 | Fee Based | 1.19% | US$5,000/ [US$100] |
H (US$) | PGF 541 | Front End – HNW | 1.75% | US$100,000 / [$100] |
I (US$) | PGF 551 | Fee Based – HNW | 1.04% | US$100,000 / [$100] |
*As at 2022-12-31
Asset Class: Fixed Income Securities |
Inception Date: June 1, 2009 |
Valuation Frequency: Daily |
Eligibility: Canada-wide, Registered Plans |
Distributions: DRIP monthly, cash optional |
Benchmark: FTSE TMX Canada Bond Universe |
Portfolio Manager: Geoff Castle |
For More Visit: Legal & Financial
HIGHLIGHTS The strongest contributors to the Fund were Paratek Pharmaceuticals Inc., Emergent BioSolutions Inc., Esperion Therapeutics Inc., and Bausch Health. Decliners in the Fund included McDermott International Inc., PHI Group Inc., and American Tire Distributors Inc. In April, the Fund added a new position in DISH Network Corporation which is building out an ambitious 5G wireless network. We also added a position in the busted convertibles of Bandwidth Inc., a leading player in producing software that enables the interface between web-based applications and the telephony network. --- The Pender Corporate Bond Fund returned 0.5%[1] in April, which was also a…
Standard Performance Data is subject to important disclosures set out in our Disclaimer
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.
Parul Garg is the Associate Portfolio Manager of the Pender Corporate Bond Fund. She began her investment career in 2009 and has been the fixed income analyst on the Fund since 2015.
Emily Wheeler joined Pender in October 2019 and is a Portfolio Manager working on the Pender Corporate Bond Fund and the Pender Bond Universe Fund.
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