Dear Unitholders, The Pender Alternative Absolute Return Fund finished November with a return of 0.3%[1], bringing year-to-date performance to 5.1%. November was one of the more difficult market environments for the Fund to navigate, as a market that is historically not cheap experienced sharp rallies. The high yield market was up for a second consecutive […]
HIGHLIGHTS We expect a further easing of inflation pressures as consumers and companies digest the impact of significantly higher rates. We find the prices of relatively strong corporate credits in the three to seven-year tenors to be very attractive. There are plenty of excellent issuers with credit yields of more than 6%. What could happen […]
VANCOUVER, B.C. (TSXV: PTF) Pender Growth Fund Inc. (the “Company”) today announced its financial and operational results for the three months and nine months ended September 30, 2022. Financial Highlights (Unaudited) Net loss was $8,520,121 for the three months ended September 30, 2022 (September 30, 2021 – Net income $75,339,050) primarily the result of negative […]
Highlights The Fund initiated a position in the Twitter acquisition by Elon Musk. While this deal was a relatively bumpy ride, it’s also a great example of the contractual and legal strength of a definitive merger agreement. We believe we are now at the peak of the SPAC maturity cliff. Hundreds of SPACs, which were […]
VANCOUVER, B.C. PenderFund Capital Management Ltd. (“Pender”) is pleased to announce that the Pender Small Cap Opportunities Fund (the “Fund”) has received an industry award. The Pender Small Cap Opportunities Fund has been recognized as a Refinitiv Lipper Fund Awards Canada 2022 Winner and named the best Canadian Focused Small/Mid Cap Equity Fund over a […]
Highlights There was a significant bounce in most asset classes, as dip buyers emerged following significant repricing from mid-August to mid-October Large macro moves have created pockets of dislocation within credit markets, especially between Investment Grade and High Yield credits We believe that a large driver of the divergence between investment grade and high yield […]
"*" indicates required fields
