PenderFund Capital Management Ltd. Announces Risk Rating Change on Pender Corporate Bond Fund and Investment Team Updates
June 28 2024 - 1:58PM
PenderFund Capital Management Ltd. (“Pender”), the manager of the
Pender mutual funds (the “Funds”), announces that the risk rating
of the class CAD$ units of Pender Corporate Bond Fund (“PCBF”) have
changed. As part of its review of the investment risk level of its
mutual funds and applying the standardized risk classification
methodology as set out in Appendix F to National Instrument 81- 102
– Investment Funds, Pender has determined that the investment risk
levels of the class CAD$ units of PCBF have changed and the changes
were reflected in the Funds’ annual simplified prospectus renewal,
which was filed on June 28, 2024.
Risk Rating
Changes
Fund/Class |
New Risk Rating |
Prior Risk Rating |
PCBF – Class CAD$ |
Low to Medium |
Low |
|
|
|
A summary of the methodology used by Pender to identify the risk
rating of each of the Funds can be found in the Funds’ simplified
prospectus available on SEDAR+ at www.sedarplus.ca. This
methodology is also available by calling toll-free 1-866-377-4743
or sending an email to info@penderfund.com.
The risk rating for each of the Funds is reviewed at a minimum
on an annual basis, as well as when a Fund undergoes a material
change. No material changes have been made to the investment
objectives or strategies of the Funds.
Effective June 18, 2024, Pender has created the Office of the
CIO. Functional areas managed by the CIO have been divided into six
activity centres, owned and managed by experienced and senior
members of Pender’s Investment and Operations teams, and led by and
reporting to Pender’s CEO, David Barr. The Office of the CIO has
been established in light of Felix Narhi’s decision to step back
from his role as both Pender’s CIO and a Portfolio Manager of
several of Pender’s funds. As of June 18, 2024 Felix will no longer
be Pender’s CIO. He is remaining at Pender as the full-time
Portfolio Manager of the award-winning Pender Strategic Growth
& Income Fund alongside Co-Manager, Geoff Castle, Lead
Portfolio Manager, Fixed Income.
About PenderFund Capital Management Ltd.
Pender was founded in 2003 and is an independent, employee-owned
investment firm located in Vancouver, British Columbia. Our goal is
to protect and grow wealth for our investors over time. We have a
talented investment team of expert analysts, security selectors and
independent thinkers who actively manage a suite of differentiated
investment funds, exploiting inefficient parts of the investing
universe to achieve our goal.
For more information on Pender, visit www.penderfund.com and
www.fondspender.com.
Please read important disclosures at
www.penderfund.com/disclaimer.
For further information, please contact:
Melanie Moore Vice President of Marketing, PenderFund Capital
Management Ltd.mmoore@penderfund.com(604) 688-1511Toll Free: (866)
377-4743