Fixed Income
Turning credit-market dislocation into opportunity: a diversified portfolio of special situation, stressed and distressed debt from publicly traded issuers, built for attractive, risk-adjusted returns.
UPCOMING WEBINAR
Thursday, October 8, 2026
10am PST / 11am MST / 12pm CST / 1pm EST
MER was NIL as at due to waiver of fees. The management expense ratio ("MER") is calculated based on expenses charged to the fund inclusive of applicable taxes including GST and HST (excluding commissions, performance fees 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.
| YTD | 3 Mo. | 6 Mo. | 1 Yr. | Since Inception | |
|---|---|---|---|---|---|
| Pender Credit Opportunities Fund | 9.4 | 6.8 | 6.1 | 31.1 | 15.3 |
| ICE BofA US High Yield TR | 1.6 | 0.4 | 1.1 | 5.0 | 5.8 |
| Excess Return | 7.8 | 6.4 | 5.0 | 26.1 | 9.5 |
Missing allocations.
Missing allocations.
Missing allocations.
| Code | Class | Description | MER | Trailer | Min. Investment Initial/[Subsequent] |
|---|---|---|---|---|---|
| - | F | /[$] |
MER was NIL as at due to waiver of fees. The management expense ratio (“MER”) is calculated based on expenses charged to the fund inclusive of applicable taxes including GST and HST (excluding commissions, performance fees 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.
A fundamentals-first approach that stays suitable regardless of where we are in the credit cycle.
Dislocation is structural, not seasonal. Maturity walls, downgrades, forced selling and index exclusion continually create mispriced credit in both strong and weak markets.
Because the Fund runs a fixed capital pool and stays deliberately small, it can move into corners of the market where capital is scarce and competition is thin.
Associate Portfolio Manager Parul Garg on her investment approach.
Priced mark-to-market, the Fund offers a differentiated risk-to-reward stream across credit cycles.
Extensive bankruptcy and restructuring experience, with deep due-diligence research focused on risk and capital preservation.
Videos, resources and podcasts on the stressed & distressed credit strategy.
Dear Co-investors, Thank you for your continued partnership in the Pender Credit Opportunities Fund. In the second quarter of 2026, the Fund appreciated 11.6% net of fees, aided by impactful contributions from Wolfspeed, Inc., Evolent Health, Inc., and Fluence Energy, Inc. We are also approaching an exciting milestone: our three-year track record of managing Funds […]
Only available in EnglishDear Co-investors, Thank you for your continued partnership in the Pender Credit Opportunities Fund. In this quarter’s letter, we will share our perspective on the opportunistic themes we are seeing ahead and also provide a closer look on a few of the high conviction, individual credits we hold. Fund at a Glance Pender Credit Opportunities […]
Only available in EnglishDear Investors Thank you for your continued partnership in the Pender Credit Opportunities Fund. As of December 31st, 2025, the Fund was up 13.7%1 (net of all expenses and fees) for the year. Over the same period, the benchmark returned 7.3%. In this letter, we will review the key contributors and detractors and then share […]
Only available in EnglishThis document or material is directed only to Canadian residents that are “accredited investors” as defined under section 1.1 of National Instrument 45-106 Prospectus Exemptions and “permitted clients” as defined under section 1.1 of National Instrument 31-103 Registration Requirements, Exemptions and Ongoing Registrant Obligations.
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