Episode 60 – Quarterly Fixed Income Update
January 28, 2021

Episode 60 – Quarterly Fixed Income Update

Sarah Wildman is joined by Geoff Castle and Emily Wheeler for the Quarterly Fixed Income Update.

Subtitle: Credit markets: typically consistent, but every now and then they fall apart.

In this episode Sarah Wildman, Director of Institutional & Family Office Wealth Services, is joined by Geoff Castle, Portfolio Manager of the Pender Corporate Bond Fund, and Emily Wheeler, Associate Portfolio Manager who manages the Pender Bond Universe Fund with Geoff. They take a short look back on 2020 with the benefit of hindsight, but are mainly focused on the potential headwinds and tailwinds they are seeing for fixed income and the Funds in 2021.

Key Takeaways

[01:11]A summary of the effects of 2020 on credit markets.
[03:24]The standout securities of 2020 including Chesapeake and SunPower.
[04:58]Managing the Pender Bond Universe Fund through the market turmoil that followed so soon after its launch in January 2020.
[12:25]The potential for rates to increase and the associated risks, and opportunities, for the Fund.
[14:17]Convertible bonds and their place in the portfolio in 2021.
[18:21]The opportunity for distressed debt into 2021.
[21:49]How the Pender Bond Universe Fund is positioned for its one-year anniversary on January 31st.
[23:06]Final thoughts on the opportunities in credit markets this year.
[24:50]A book recommendation from Emily and a recommendation on some interesting reports from Geoff.