Episode 52 – Quarterly Fixed Income Update
October 15, 2020

Episode 52 – Quarterly Fixed Income Update

Sarah Wildman is joined Geoff Castle and Parul Garg for the Quarterly Fixed Income Update.

Subtitle: Managing for value.

In this episode Sarah Wildman, Director of Institutional & Family Office Wealth Services, is joined Geoff Castle, Portfolio Manager of the Pender Corporate Bond Fund, and Parul Garg, Associate Portfolio Manager of the Fund. They look back on the five-year anniversary of Geoff and Parul managing the Fund, look out to the next five, and discuss volatility and “the hunt for yield”, or as Geoff likes to say “managing for value”.

Key Takeaways

[01:18]A discussion around Geoff’s 5-year anniversary of managing the Fund and his investment process over the years.
[04:35]A look at some distressed debt names Pender has invested in, including Aceto and Chesapeake.
[05:30]The next five years and some headwinds and tailwinds the Fund may face during that time.
[10:28]Four themes in Geoff’s September commentary including a commitment to liquidity, staying active and flexible, the idea of units of returns per unit of risk and focusing on our real returns.
[13:57]Sectors we are finding opportunities in right now including names in infrastructure, engineering and construction.
[16:19]Reflecting on recent volatility in the Fund and how we are managing it moving forward.
[23:45]Managing for value over the hunt for yield.
[28:30]A book recommendation from Geoff.

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