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Pender Corporate Bond Fund Class A

High Yield Fixed Income

FundGrade A Click for more information on Fundata’s FundGrade

FundGrade A

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FundGrade A+® Rating Recipient

FundGrade A+® Rating Recipient

2023, 2022, 2021, 2019, 2018

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NAVPS
(07-18-2024)
$12.78
Change
-$0.02 (-0.13%)

As at June 30, 2024

As at June 30, 2024

Period
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Legend

Pender Corporate Bond Fund Class A

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Fund Returns

Inception Return (June 01, 2009): 5.73%

Fund Returns
Row Heading Return Annualized Return
1 Mth 3 Mth 6 Mth YTD 1 Yr 2 Yr 3 Yr 4 Yr 5 Yr 6 Yr 7 Yr 8 Yr 9 Yr 10 Yr
Fund 1.14% 3.41% 7.28% 7.28% 11.91% 7.48% 2.98% 6.86% 4.65% 4.44% 4.95% 6.26% 5.69% 4.96%
Benchmark 1.79% 2.35% 6.59% 6.59% 14.42% 13.47% 3.38% 3.80% 3.77% 4.27% 4.15% 5.14% 5.27% 5.98%
Category Average 0.68% 2.56% 2.56% 2.56% 7.97% 6.42% 0.23% 2.95% 2.20% 2.59% 2.42% 3.11% 2.73% 2.49%
Category Rank 18 / 301 5 / 301 6 / 301 6 / 301 43 / 295 138 / 292 40 / 286 22 / 276 31 / 270 37 / 250 21 / 238 14 / 221 10 / 193 18 / 181
Quartile Ranking 1 1 1 1 1 2 1 1 1 1 1 1 1 1

Monthly Return

Monthly Return
Return % Jul Aug Sep Oct Nov Dec Jan Feb Mar Apr May Jun
Fund 0.48% 0.04% -0.59% -0.63% 1.93% 3.06% 0.25% 0.73% 2.73% -0.14% 2.39% 1.14%
Benchmark 1.08% 2.51% -1.32% 1.59% 2.42% 0.89% 1.39% 1.87% 0.83% 0.55% 0.00% 1.79%

Best Monthly Return Since Inception

7.98% (July 2009)

Worst Monthly Return Since Inception

-12.20% (March 2020)

Calendar Return (%)

Calendar Return
Return % 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023
Fund 0.64% -8.71% 22.69% 7.01% 5.54% 4.74% 6.23% 9.37% -6.56% 6.62%
Benchmark 8.91% 14.93% 10.80% 2.96% 5.36% 7.98% 6.14% 0.50% -6.92% 10.36%
Category Average 2.69% -2.71% 9.58% 5.34% -2.63% 9.49% 5.35% 3.21% -10.00% 8.59%
Quartile Ranking 4 4 1 1 1 4 2 1 1 4
Category Rank 164/ 173 182/ 185 4/ 201 28/ 229 10/ 240 246/ 265 84/ 275 20/ 277 52/ 286 255/ 295

Best Calendar Return (Last 10 years)

22.69% (2016)

Worst Calendar Return (Last 10 years)

-8.71% (2015)

Asset Allocation

Asset Allocation
Name Percent
Foreign Corporate Bonds 55.55
Foreign Government Bonds 10.29
Canadian Corporate Bonds 9.68
Cash and Equivalents 9.16
Canadian Equity 5.61
Other 9.71

Sector Allocation

Sector Allocation
Name Percent
Fixed Income 78.82
Cash and Cash Equivalent 9.16
Financial Services 2.84
Consumer Goods 2.54
Consumer Services 1.23
Other 5.41

Geographic Allocation

Geographic Allocation
Name Percent
North America 95.24
Latin America 2.90
Europe 1.26
Multi-National 0.61
Other -0.01

Top Holdings

Top Holdings
Name Percent
Esperion Therapeutics Inc 4.00% 15-Nov-2025 2.97
First Majestic Silver Corp 0.38% 15-Jan-2027 2.49
Rivian Holdings LLC 11.36% 15-Oct-2026 2.33
Lucid Group Inc 1.25% 15-Dec-2026 2.24
OPKO Health Inc 3.75% 15-Jan-2029 2.14
VeriSign, Inc 4.75% 26-Jul-2024 2.00
Liberty Tripadvisor Holdgs Inc 0.50% 30-Jun-2051 1.86
Waste Management Canada Corp 2.60% 23-Jul-2026 1.85
Thomson Reuters Corp 2.24% 14-Apr-2025 1.75
Trulieve Cannabis Corp - Pfd 1.74

Equity Style

Equity style data not available

Fixed Income Style

Fixed income style data not available
Period: 

Risk vs Return (3 Yr)

Pender Corporate Bond Fund Class A

Median

Other - High Yield Fixed Income

3 Yr Annualized

Standard Deviation 4.46% 7.50% 6.09%
Beta 0.40% 0.72% 0.39%
Alpha 0.02% 0.02% 0.03%
Rsquared 0.37% 0.47% 0.19%
Sharpe 0.01% 0.37% 0.58%
Sortino 0.01% 0.30% 0.44%
Treynor 0.00% 0.04% 0.09%
Tax Efficiency 31.75% 63.98% 68.17%
Volatility Volatility rating is 1 on a scale of 1 to 10 Volatility rating is 2 on a scale of 1 to 10 Volatility rating is 2 on a scale of 1 to 10

Risk Rating

Rating 1 out of ten

Annualized Key Ratio Period Comparison

Key Ratio
Key Ratio 1 Yr 3 Yr 5 Yr 10 Yr
Standard Deviation 4.47% 4.46% 7.50% 6.09%
Beta 0.07% 0.40% 0.72% 0.39%
Alpha 0.10% 0.02% 0.02% 0.03%
Rsquared 0.00% 0.37% 0.47% 0.19%
Sharpe 1.46% 0.01% 0.37% 0.58%
Sortino 6.48% 0.01% 0.30% 0.44%
Treynor 0.99% 0.00% 0.04% 0.09%
Tax Efficiency 87.06% 31.75% 63.98% 68.17%

Fund Details

Start Date June 01, 2009
Instrument Type Mutual Fund
Share Class Commission Based Advice
Legal Status Trust
Sales Status Open
Currency CAD
Distribution Frequency Monthly
Assets ($mil) $1,705

Fund Codes

FundServ Code Load Code Sales Status
PGF500

Investment Objectives

The objective of the Fund is to preserve capital and generate returns through current income and capital appreciation. The Fund invests primarily in investment and non-investment grade fixed income securities issued by North American corporations. This, however, does not preclude the Fund from making equity investments when the Manager deems the risk/reward trade-off to be in the investors’ favour.

Investment Strategy

The Fund employs a value-based fundamental research process. The Manager believes that private and public securities are priced inefficiently and, as a result, the price of any given security only occasionally coincides with its intrinsic value. The Manager attempts to identify and exploit these inaccuracies using internal analyses. Those businesses whose securities the Manager believes to be undervalued will be considered as investment candidates.

Portfolio Manager(s)

Name Start Date
Geoff Castle 09-01-2015
Emily Wheeler 10-01-2019
Parul Garg 03-26-2020

Management and Organization

Fund Manager PenderFund Capital Management Ltd.
Advisor PenderFund Capital Management Ltd.
Custodian CIBC Mellon Trust Company
Registrar CIBC Mellon Trust Company
Distributor -
Auditor KPMG LLP

Investment Minimums

RSP Eligible Yes
PAC Allowed Yes
PAC Initial Investment 5,000
PAC Subsequent 100
SWP Allowed Yes
SWP Min Balance 5,000
SWP Min Withdrawal 100

Fees

MER 2.07%
Management Fee 1.40%
Load Back Fee Only
FE Max 5.00%
DSC Max -
Trailer Fee Max (FE) 0.80%
Trailer Fee Max (DSC) -
Trailer Fee Max (NL) -
Trailer Fee Max (LL) -

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