Subtitle: A Market Isn't Always Just One Thing Forever

In this episode, Laura Baker, Associate Portfolio Manager at Pender, sits down with Lead Portfolio Manager, Fixed Income Geoff Castle, Portfolio Manager Emily Wheeler and Associate Portfolio Manager Parul Garg to discuss the recent recognition of two of Pender's fixed income funds with 2025 LSEG Lipper Fund Awards. The team shares the drivers behind their consistent performance, their disciplined investment process and their outlook on risks and opportunities in the evolving credit landscape.

Disclaimer

Geoff and Callum revisit the big themes in 2024 and tally which of their 2023 calls went right. They look ahead to 2025 and beyond and discuss the current market cycle, and where opportunities are in global small caps, Treasuries, commodities and the commercialization of space. A must-listen for professional and regular investors alike.

This is the first in a new Pender Ventures podcast series reflecting the scale-up stories of some of the great Canadian technology companies.

We kick off with the story of PMC-Sierra, a pioneering and leading semiconductor chipset supplier that specialized in the design and development of integrated circuits for networking, telecommunications and data storage.

Maria Pacella, Managing Partner of Pender Ventures sat down with three key executives and co-founders, each of whom made significant contributions to the semiconductor industry, Greg Aasen, Kevin Huscroft and Colin Harris.

They look back on the critical phases of PMC-Sierra's evolution, the strategic decisions made by leadership, its impact on the broader tech landscape, navigating 2000, and what they'd do differently if they had to do it all again.

In this discussion, hosted by Rita Silvan, Parul Garg, Pender's distressed credit expert in default securities, reorganizations and recapitalizations, discusses the impending catalysts for generating meaningful alpha in distressed debt in the next 3-to-5 years, and how a public credit strategy complements investing in private credits. She explains the various approaches to creating value and managing risk in both the Pender Credit Opportunities Fund and Pender Corporate Bond Fund portfolios.

Welcome to the PenderFund podcast! In today's episode, we delve into the intricate world of public distressed credit investing. Join Rita Silvan, Director of Content Strategy at PenderFund Asset Management, as she speaks with Parul Garg, a specialist in stressed and distressed public holdings within the Pender Credit Opportunities Fund and the Pender Corporate Bond Fund. With over a decade of experience, Parul provides a comprehensive look at the strategies and insights that drive success in this challenging yet rewarding investment landscape.

Subtitle: Expertise and experience, transparency and liquidity

Maria Pacella, Managing Partner of Pender Ventures gets an in-depth status report on Generative AI in this fascinating conversation with Duncan Stewart, Director of Technology, Media and Telecommunications (TMT) Research at Deloitte Canada. Duncan's research includes travelling the world for real-time, face to face updates from companies in every sector to unravel TMT and report resulting predictions. Maria and Duncan talk about Generative AI from a number of angles: company side implementation, client-side adoption, supply and demand, pricing and more. Listen to Duncan's up-to-the-minute insights. But don't leave it too long. He predicts that by the end of the year all his predictions will be wrong! Subtitle: "I predict by the end of the year all of my predictions will be wrong"

In this episode Geoff Castle, Lead Portfolio Manager of Pender's Fixed Income portfolios, hosts Callum Thomas, founder and head of research of Topdown Charts for their annual podcast.

Subtitle: Building puzzles.

Geoff and Callum reflect on 2023 and review which of their December 2022 calls were right, and which were early. They look ahead to 2024 and really dive into a wide range of topics, both fixed income as well as small-cap equities, commodities and UAPs (formerly UFOs). Is the US government hiding something? Many would regard this as a "must-listen".

Moderated by David Dufresne, Partner, CMD Capital chats with Maria Pacella, Managing Partner of Pender Ventures, Anne Phan, VP, Corporate Development at Wealthsimple and Brent Holliday, Founder & CEO of Garibaldi Capital Advisors. They discuss the final phase of the venture cycle.

Subtitle: Creating liquidity through exits.

Subtitle: "A rolling loan gathers no loss"

Geoff and Winnie jump right into discussing how to navigate credit markets in the current climate. There's a lot to cover as they touch on the latest remarks from the Fed, public vs private debt, dealer inventories, maturity walls, what the rest of 2023 might hold and more, closing with Winnie's book recommendation.