Highlights Small-cap stocks have historically traded at a premium to large caps given their higher growth potential. However, we are now in a market when small caps trade at a significant discount to large caps. We are continuing to rotate our portfolio into higher quality companies where we see the best risk/reward profiles such as […]
Let’s make a deal. PenderFund’s Amar Pandya leads the merger arbitrage strategy where he invests in more than 100 deals a year. Recent successful deals have included Twitter, Rogers and Freshii. Merger arb offers diversified returns with a low correlation to stocks and bonds and provides tax efficient returns. Learn more in Amar’s interview […]
Highlights For the three months ended March 31, 2023, the Fund generated a 1.9% return.[1] Several high-quality, defensive, relatively longer-dated lines, such as Loblaw Companies Ltd., Verisign Inc. and Bell Canada Enterprises Inc. bolstered performance. There are signs suggesting the hiking cycle is nearing its peak. Should the rate hikes to date slow the economy […]
Pender Growth Fund Announces Annual Results and Provides Company Updates VANCOUVER, B.C. (TSXV: PTF) Pender Growth Fund Inc. (the “Company”) today announced its financial and operational results for the year ended December 31, 2022 Financial Highlights Net loss was $127,838,962 for the year ended December 31, 2022 (December 31, 2021 – Net income $152,096,772) primarily […]
The Pender Corporate Bond Fund returned -0.5%[1] in March. Although the period was a strong one for the high-grade part of the portfolio, a few idiosyncratic events in particular lines and widening spreads in lower-tier credit holdings led to a net negative result for the month. Highlights Most of the Fund’s investment grade holdings were […]
Highlights The Fund added back a position in Valvoline Inc. 4.25% 2030 (NYSE:VVV) that we had sold out of in February. This bond is expected to be called in Q1 2024 with the proceeds from the already-completed asset sale to Saudi (Aramco). We exited our position in Rogers Communications Inc. special mandatory redemption bonds, as […]
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