Pender Growth Fund Inc. (the “Company”) today announced its financial and operational results for the three months ended March 31, 2024. Financial Highlights Net income was $12,262,927 for the three months ended March 31, 2024 (March 31, 2023 – Net loss $3,293,058) due to positive investment performance in the quarter. Net income per Class C […]
Highlights After a euphoric March, April poured cold water on the euphoria halting the market’s year-to-date rise. Global M&A at the end of April was up 31% from last year. In Canada, technology sector leads deal volumes followed by the energy & power and financials sectors. We believe valuations for many small cap companies owned […]
Highlights: Higher risk-free rates offset line-item strength in the portfolio. Positive performance in areas including cinemas helped our positions. We continue to look beyond a single macro idea to other options to generate returns. We initiated positions in the convertible bonds of Revance Therapeutics Inc. and the secured bonds of Porch Group Inc. After an […]
Highlights The Fund added to some higher quality, high yield positions in April. Following a market rebound, we raised cash in the later part of the month. We closed our short position in Charter Communication’s unsecured bonds, and our capital structure trade in CSC Holdings LLC, a subsidiary of Altice USA. The Pender Alternative Absolute […]
Download the PDF Dear Investor We deeply appreciate your ongoing support of Pender Credit Opportunities Fund I (PCOF I). Since its inception, the Fund has delivered positive performance of 13.4% net of all fees and expenses, outperforming both the High Yield Market (ICE BofA US High Yield TR USD returned 7.7%) and the CCC index […]
The Pender Value Fund had a strong start to the year, gaining 17.3%[1] in the first quarter of 2024. This result compares with gains of 6.6% in the S&P/TSX Composite Index and 7.9% in the S&P/TSX Small Cap Index. In the US, the Russell 2000 Index (CAD) returned 7.5%. The strength in overall equity market […]
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