The Pender Strategic Growth and Income Fund (the “Fund”) is temporarily closed to new investors as of April 11, 2023 (the “Record Date”) in anticipation of an announced Special Meeting expected to be held on May 23, 2023. The Fund is no longer open to new investors purchasing or switching into the Fund. For greater clarity, existing unitholders of the Fund, as of the Record Date, will continue to be allowed to make purchases and redemptions.
Please read the Notice of Special Meeting. If you need more information or have questions, please reach out to your Pender contact or email email@example.com.
The Pender Strategic Growth and Income Fund is a conservatively managed balanced fund. The fixed income strategy of the Fund will be primarily effected through the Pender Corporate Bond Fund, with weightings generally ranging from 30-60%, and may vary depending on market conditions. The remaining assets will be mainly in equities. Direct equity strategy will be primarily effected through small to mid-sized Canadian and US companies, with an emphasis on businesses that generate stable or growing cash distributions to shareholders. The Fund provides uncapped access to the Pender Small Cap Opportunities Fund, with weightings ranging from 5-10%.
|Class||Fund Codes||Description||MER*||Minimum Investment: Initial/[Subsequent]|
|A||PGF 600||Front End||2.34%||$5,000 / [$100]|
|F||PGF 610||Fee Based||1.28%||$5,000 / [$100]|
|H||PGF 640||Front End – HNW||2.00%||$100,000 / [$100]|
|I||PGF 650||Fee Based – HNW||1.12%||$100,000 / [$100]|
*As at 2022-12-31
|Asset Class: Growth and Income Fund|
|Inception Date: November 24, 2010|
|Valuation Frequency: Daily|
|Eligibility: Canada-wide, Registered Plans|
|Distributions: DRIP quarterly, cash optional|
|Benchmark: Blended Benchmark (50% FTSE/TMX Canada Universe Bond Index, 35% S&P/TSX Composite Index, 15% S&P 500 Index)|
Portfolio Manager: Felix Narhi, CFA
Co- Manager: Geoff Castle
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HIGHLIGHTS The Fund returned 2.6% in the first quarter. Over the last three years, performance has been strong at 17.3%1. One of the major areas of market concern during the quarter was the meltdown of Silicon Valley Bank. We do not own any U.S regional banks in the Fund, nor any banks for that matter. We also do not hold companies that were dependent on continued financing from SVB. We own numerous companies that are categorized as “financials” despite getting most of their value from operations in other sectors. Two examples are Exor (BIT: EXOR) and Onex (TSX: ONEX). We…
Standard Performance Data is subject to important disclosures set out in our Disclaimer
Mr. Narhi is the Chief Investment Officer of Pender and the Portfolio Manager of the Pender Global Focused Fund (formerly the Pender US All Cap Equity Fund) and the Pender Strategic Growth and Income Fund, and Co-Manager of the Pender Value Fund.
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.