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High Yield Fixed Income
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2023, 2022, 2021, 2019, 2018
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|
NAVPS (07-25-2024) |
$12.75 |
|---|---|
| Change |
$0.00
(0.02%)
|
As at June 30, 2024
As at June 30, 2024
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Inception Return (June 01, 2009): 5.73%
| 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 |
| 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% |
7.98% (July 2009)
-12.20% (March 2020)
| 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 |
22.69% (2016)
-8.71% (2015)
| 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 |
| 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 |
| Name | Percent |
|---|---|
| North America | 95.24 |
| Latin America | 2.90 |
| Europe | 1.26 |
| Multi-National | 0.61 |
| Other | -0.01 |
| 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 |
Pender Corporate Bond Fund Class A
Median
Other - High Yield Fixed Income
| 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 |
|
|
|
| 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% |
| 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 |
| FundServ Code | Load Code | Sales Status |
|---|---|---|
| PGF500 |
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.
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.
| Name | Start Date |
|---|---|
| Geoff Castle | 09-01-2015 |
| Emily Wheeler | 10-01-2019 |
| Parul Garg | 03-26-2020 |
| 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 |
| 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 |
| 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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