Pender Strategic Growth and Income Fund

The Pender Strategic Growth and Income Fund is a diversified balanced fund. It aims to generate long-term growth and income by investing in a portfolio of equities and fixed income which may vary depending on market conditions.

The Fund makes allocations across Pender’s investment lineup, specifically, the Fund invests in Pender’s fixed income and equity funds which aim for best-in-class results. It may also allocate up to 10% of its net assets to a range of Pender’s liquid alternative funds to further diversify the portfolio. Alongside these holdings the fund will have equity exposures that are typically investments in All-Cap Canadian and U.S. companies, with an emphasis on businesses that generate stable or growing cash distributions to shareholders and further diversify and complement the existing holdings within the fund.

We believe this approach is an important differentiator to traditional balanced funds, which are often under invested in small-mid cap equities which can be an important long-term driver of returns, and liquid alternatives for diversification benefits.

Read more for a deeper dive into the Fund.

Since Inception returns are from December 2019. All returns greater than a year are annual compounded returns.

Performance (%) - March 31, 20251 Mo.3 Mo.6 Mo.1 Yr.2 Yr.3 Yr.5 Yr.10 Yr.15 Yr.YTDSince InceptionInception Date
A-3.8-4.2-1.67.012.26.516.2-4.27.72019-12-15
F-3.7-3.9-1.08.213.47.717.5-3.98.82019-12-15
Annual Performance (%)20172018201920202021202220232024YTD
A-1.922.8-8.012.219.3-4.2
F-1.024.1-7.113.420.6-3.9
Distributions Per Unit ($)Apr'23May'23Dec'23Mar'24Jun'24Sep'24Dec'24Mar'25Since Inception
A0.030.030.060.010.050.020.020.031.43
F0.030.030.110.040.070.050.040.061.67

Standard Performance Data is subject to important disclosures set out in our Disclaimer.

  • Asset Allocation(%)
    US Equities27.0
    Canadian Equities24.3
    US Corporate Bonds15.6
    Other Assets9.5
    Canadian Corporate Bonds6.1
    Foreign Equities5.3
    Foreign Corporate Bonds4.3
    Government Bonds3.0
    Term Loans2.5
    Cash1.6
    Closed End Funds0.6
    Equity ETF Option0.2
    Sector Allocation(%)
    Financial Services15.6
    Industrials10.4
    Information Technology9.7
    Other Sectors9.5
    Energy8.5
    Health Care8.3
    Real Estate7.6
    Consumer Discretionary5.4
    Consumer Staples4.7
    Insurance4.7
    Materials4.6
    Communication Services3.3
    Government Bonds3.0
    Utilities2.3
    Cash1.6
    Closed End Funds0.6
    Equity ETF Option0.2
    Currency Allocation(%)
    USD56.3
    CAD38.4
    Other5.3
    Top 10 HoldingsFund (%)
    Pender Corporate Bond Fund34.3
    Pender Alternative Absolute Return Fund8.5
    Pender Small Cap Opportunities Fund8.4
    Exor N.V.3.4
    Burford Capital Limited3.0
    Brookfield Corporation2.7
    Onex Corporation2.3
    Trisura Group Ltd.2.0
    Dream Unlimited Corp.2.0
    Markel Group Inc.2.0
    Total Percentage of Top 10 Holdings68.60%
    Total Net Assets of Fund$54,800,250
  • Class Code DescriptionMER1TrailerMin. Investment: Initial/[Subsequent]
    APGF 1000Front End2.34%1.00%$5,000/[$100]
    FPGF 1010Fee Based1.28%$5,000/[$100]
    HPGF 1040Front End – HNW2.01%0.85%$100,000/[$100]
    IPGF 1050Fee Based – HNW1.11%$100,000/[$100]

    1 As at 31-12-2024. The management expense ratio (“MER”) is calculated based on expenses charged to the fund inclusive of applicable taxes including GST and HST (excluding commissions 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.

    Asset Class: Growth and Income Fund
    Inception Date: December 15, 2019
    Valuation Frequency: Daily
    Distributions: DRIP Quarterly, Cash Optional
    Benchmark: Blended Benchmark (50% DEX, 35% S&P/TSX, 15% S&P500 CAD)
    Portfolio Manager: Felix Narhi, CFA,
    Co-Portfolio Manager: Geoff Castle
  • The Latest

    Pender Strategic Growth and Income Fund – Q4 2024

    “The future ain't what it used to be” – Yogi Berra Highlights Fund returned 3.0% in Q4 and 20.6% for 2024; 5-year milestone crossed w/ top decile performance. Rotated tactical allocation to defensive undervalued equities: 5 equity additions and 5 exits. Higher defensive positioning: Record liquid alts, new healthcare equities, high cash levels Dear Fellow Unitholders, The Fund returned 3.0% in the fourth quarter of 2024 compared to its Morningstar Category which returned 1.8%[1]. Small cap equity holdings and corporate credit allocations drove the quarter’s outperformance. The Fund passed its 5-year anniversary on December 15, 2024. Trailing one-, three-, and…

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Effective June 23, 2023, the Pender Strategic Growth and Income Fund merged with the Pender Enhanced Income Fund. On completion of the merger, all of the assets and investments of the Pender Strategic Growth and Income Fund were transferred to the Pender Enhanced Income Fund and unitholders of the Pender Strategic Growth and Income Fund became unitholders of the Pender Enhanced Income Fund.

After the Merger, the name of the Pender Enhanced Income Fund was changed to “Pender Strategic Growth and Income Fund”.

Felix Narhi

Felix Narhi

Portfolio Manager

Mr. Narhi is the Portfolio Manager of the Pender Strategic Growth and Income Fund and Co-Manager of the Pender Value Fund.

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Geoff Castle

Geoff Castle

Portfolio Manager

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.

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