Highlights Genpact Ltd. (NYSE: G) and Webster Financial Corporation (NYSE: WBS) were top contributors while Harmonic Inc. (Nasdaq: HLIT) and Fluor Corporation (NYSE: FLR) were detractors to performance. Initiated a new position in Tidewater, Inc. (NYSE: TDW). The S&P MidCap 400 Index posted total returns of 3.85% for January 2025, outperforming its large cap peer […]
Pender Growth Fund Inc. (the “Company”) announces that it has provided the TSX Venture Exchange (the "TSXV") with its Notice of Intention to make a Normal Course Issuer Bid (the "NCIB") through the facilities of the TSXV, subject to TSXV acceptance. The Company is proposing to put a new NCIB in place upon the expiry […]
Dear Unitholders, The Pender Alternative Absolute Return Fund finished January with a return of -0.1% [1]. Markets rebounded in January following a soft end to 2024. High yield spreads tightened 24bp in January to finish the month at 268bp Govt OAS, after hitting a multi-decade low of 259bp on January 22. The HFRI Credit Index, […]
PenderFund Capital Management Ltd. (“Pender”) is pleased to announce that three of its funds were awarded a FundGrade A+ Award® at the Celebration of Excellence ceremony in Toronto on February 6, 2025. The Pender Bond Universe Fund, Pender Corporate Bond Fund and Pender Strategic Growth & Income Fund were all winners. This is […]
Highlights Top contributors included Spirit Airlines 8% notes, the convertible notes of Equinox Gold and Sibanye Stillwater, and Canadian Real Return bonds. Detractors included Jervois Global bonds due the announcement of a Chapter 11 earlier in the month. New positions in the Fund include newly issued convertible bonds from B2Gold Corporation and additions to our […]
Fund Performance The Pender Value Fund continued to perform well, returning 12.6% in the fourth quarter and bringing 2024 returns to 55.9%[1]. The performance in the quarter outpaced the S&P/TSX Composite Index which gained 3.8%, as well as the S&P/TSX Small Cap Index which gained 0.7%. While broad small caps continued to trail large caps, […]
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