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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

2024, 2023, 2022, 2021, 2019

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NAVPS
(02-11-2025)
$13.42
Change
-$0.03 (-0.24%)

As at January 31, 2025

As at January 31, 2025

Period
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Legend

Pender Corporate Bond Fund Class A

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Fund Returns

Inception Return (June 01, 2009): 6.12%

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 1.34% 4.15% 6.77% 1.34% 17.10% 10.69% 5.70% 5.64% 6.30% 5.89% 5.68% 5.95% 7.95% 6.14%
Benchmark 1.94% 4.92% 8.91% 1.94% 17.87% 13.35% 7.82% 5.31% 5.10% 5.92% 5.97% 5.62% 6.11% 6.06%
Category Average 1.01% 1.78% 3.78% 1.01% 7.76% 6.65% 2.51% 2.10% 2.69% 3.39% 2.90% 3.13% 4.14% 3.18%
Category Rank 57 / 282 30 / 282 39 / 281 57 / 282 23 / 280 31 / 274 35 / 268 26 / 260 17 / 251 33 / 243 25 / 220 19 / 208 6 / 198 12 / 187
Quartile Ranking 1 1 1 1 1 1 1 1 1 1 1 1 1 1

Monthly Return

Monthly Return
Return % Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Jan
Fund 0.73% 2.73% -0.14% 2.39% 1.14% 2.50% 0.81% 0.67% 1.01% 2.11% 0.64% 1.34%
Benchmark 1.87% 0.83% 0.55% 0.00% 1.79% 2.95% -0.48% 2.00% 2.26% 0.82% 2.08% 1.94%

Best Monthly Return Since Inception

7.98% (July 2009)

Worst Monthly Return Since Inception

-12.20% (March 2020)

Calendar Return (%)

Calendar Return
Return % 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024
Fund -8.71% 22.69% 7.01% 5.54% 4.74% 6.23% 9.37% -6.56% 6.62% 15.84%
Benchmark 14.93% 10.80% 2.96% 5.36% 7.98% 6.14% 0.50% -6.92% 10.36% 17.23%
Category Average -2.71% 9.58% 5.34% -2.63% 9.49% 5.35% 3.21% -10.00% 8.59% 7.12%
Quartile Ranking 4 1 1 1 4 2 1 1 4 1
Category Rank 179/ 182 4/ 198 27/ 207 6/ 218 238/ 243 83/ 251 19/ 256 50/ 265 250/ 274 21/ 280

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 50.16
Cash and Equivalents 15.02
Canadian Corporate Bonds 12.16
Foreign Government Bonds 11.22
Canadian Equity 4.19
Other 7.25

Sector Allocation

Sector Allocation
Name Percent
Fixed Income 75.85
Cash and Cash Equivalent 15.02
Consumer Goods 2.20
Exchange Traded Fund 1.35
Utilities 1.06
Other 4.52

Geographic Allocation

Geographic Allocation
Name Percent
North America 95.49
Latin America 3.32
Europe 0.88
Multi-National 0.31

Top Holdings

Top Holdings
Name Percent
Lucid Group Inc 1.25% 15-Dec-2026 2.61
First Majestic Silver Corp 0.38% 15-Jan-2027 2.05
Spirit IP Cayman Ltd 8.00% 20-Sep-2025 1.97
Fair Isaac Corp 4.00% 15-Jun-2028 1.95
VeriSign, Inc 4.75% 01-Feb-2025 1.89
Energean PLC 6.50% 30-Apr-2027 1.78
Rivian Holdings LLC 10.50% 15-Oct-2026 1.78
Esperion Therapeutics Inc 5.75% 15-Jun-2030 1.74
United States Treasury 0.13% 15-Feb-2052 1.72
Trulieve Cannabis Corp - Pfd 1.70

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 4.72% 7.56% 6.11%
Beta 0.46% 0.72% 0.47%
Alpha 0.02% 0.03% 0.03%
Rsquared 0.42% 0.48% 0.25%
Sharpe 0.41% 0.54% 0.74%
Sortino 0.90% 0.56% 0.68%
Treynor 0.04% 0.06% 0.10%
Tax Efficiency 73.36% 72.42% 74.51%
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 3.12% 4.72% 7.56% 6.11%
Beta -0.01% 0.46% 0.72% 0.47%
Alpha 0.16% 0.02% 0.03% 0.03%
Rsquared 0.00% 0.42% 0.48% 0.25%
Sharpe 3.75% 0.41% 0.54% 0.74%
Sortino - 0.90% 0.56% 0.68%
Treynor -7.98% 0.04% 0.06% 0.10%
Tax Efficiency 89.93% 73.36% 72.42% 74.51%

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) $2,379

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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