Pender Growth Fund Inc. (“Pender” or the “Company”) is pleased to announce a merger between Pender Software Holdings Ltd. (“Pender Software”) and Acorn Partners Inc. (“Acorn”). With this merger, the Acorn team joins Pender Software to further its aim of becoming the go-to capital partner for exceptional software companies. The merger of the Acorn team […]
Dear Unitholders, The Pender Alternative Arbitrage Fund and the Pender Alternative Arbitrage Plus Fund were up 0.4% and 0.6%[1] respectively in February 2025 while the HFRI ED: Merger Arbitrage Index (USD) returned 0.7%[2]. M&A Market Update Global M&A activity was over $617 billion in early March in-line with the same period last year[3]. In the […]
Highlights Brookfield Business Partners (NYSE: BBU) and Fidelity National Financial, Inc. (NYSE: FNF) were top contributors while Fluor Corporation (NYSE: FLR) was once again a detractor to performance. Initiated a new position in Euronet Worldwide, Inc. (NYSE: EEFT) and Monolithic Power Systems, Inc. (NYSE: MPWR). The S&P MidCap 400 Index posted total returns of -4.35% […]
Dear Unitholders, The Pender Alternative Absolute Return Fund finished February with a return of 0.9%, bringing year to date return to 0.7%[1]. Credit markets produced positive returns in February as lower government bond yields offset widening credit spreads. The ICE BofA US High Yield Index returned 0.65% in February as spreads finished the month at […]
The Pender Corporate Bond Fund returned 0.9%[1] in February, which was a positive month for the bond market overall. Top contributors to the month’s return included a few distressed lines, including the bonds of Spirit Airlines, Inc. which rallied on a bid for the restructuring airline from competitor Frontier Airlines. Also performing were some key […]
Dear Unitholders, The Pender Alternative Arbitrage Fund and the Pender Alternative Arbitrage Plus Fund were up 0.6% and 0.9%[1] respectively in January 2025. The HFRI ED: Merger Arbitrage Index (USD) returned 0.6%[2]. Portfolio Update M&A markets are off to a bang in 2025, driving an active month with the Fund initiating positions in 13 new […]
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