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 | 2.01% | $5,000 / [$100] |
F | PGF 510 | Fee Based | 1.17% | $5,000 / [$100] |
A (US$) | PGF 501 | Front End | 1.98% | US$5,000/ [US$100] |
F (US$) | PGF 511 | Fee Based | 1.14% | US$5,000/ [US$100] |
U | PGF 518 | Fee Based | 1.14% | $5,000/ [$100] |
H | PGF 540 | Front End – HNW | 1.69% | $100,000 / [$100] |
I | PGF 550 | Fee Based – HNW | 1.02% | $100,000 / [$100] |
H (US$) | PGF 541 | Front End – HNW | 1.68% | US$100,000 / [$100] |
I (US$) | PGF 551 | Fee Based – HNW | 1.00% | US$100,000 / [$100] |
D | PGF 560 | Discount Brokerage | 1.17% | $5,000 / [$100] |
*As at 2021-12-31
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
The Pender Corporate Bond Fund emerged from July with a positive return of 1.9%[1]. The compressed spring of lower bond prices unwound a bit in the month as a potential slowdown in inflation provided the occasion for a celebratory rally. That inflation slowdown also had positive implications for our sister Fund, the Pender Bond Universe Fund, which rallied 2.1% in July1. Download PDF Leading the way for the Corporate Bond Fund were several bright spots. Our position in the July 2023 notes of Precigen, Inc. (NASDAQ:PGEN) rallied 15% in the month as that company announced plans to sell a subsidiary…
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 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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