PenderFund

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.

We are happy to bring you the latest installment in Pender's Profiles in Credit podcast series, hosted by Geoff Castle, Lead Portfolio Manager of Pender's Fixed Income. In this episode, Geoff is joined by Sabrina Fox, Founder of Fox Legal Training and Parul Garg, Associate Portfolio Manager, also jumps with her questions. The group covered Sabrina's road to her current position and starting her company, the benefits of "speaking legalese" as well as some cautionary tales and lessons learned. And before you jump to any conclusions, if you think that a discussion of legal covenants in credit might be boring, think again.

We are delighted to welcome Greg Malpass, founder of Traction on Demand, to the podcast studio, with host, Maria Pacella, managing partner of Pender Ventures. With Traction on Demand having been acquired by SalesForce in 2022, Greg can reflect on the journey to build and sell Traction, creating a "best place to work in Canada" culture, his proudest moments and his new venture.

Welcome to Part Three of this six-part series on investing in stressed and distressed debt in which Parul Garg and Geoff Castle cover the complexities of stressed and distressed credit investing, the risks and rewards, the current opportunity and their history and experience in this area.

Highlights

• Capital priority for credit investors—a key advantage over equity investors.

• What it really takes to be a great distressed credit investor.

• Why distressed credit is an all-weather investing strategy.

• Ideal asset allocation to distressed credit in a balanced portfolio for enhanced long-term returns.

In this series, Parul and Geoff will cover the complexities of stressed and distressed credit investing, the risks and rewards, the current opportunity and their history and experience in this area.

In Part Two of this six-part series on investing in stressed and distressed debt, Geoff and Parul continue the conversation. They cover:

• The opportunity set they are seeing and cyclicality.
• Overvalued and undervalued sectors.
• Where investing ideas come from.
• The Four Ps: Pre-investment, Purchase, Pro-active credit management, Position exit.
• The Team's 13-Point Credit Checklist.