Canada-based PenderFund Capital Management has acquired certain investment management fund contracts from Vertex One Asset Management.
The transaction adds three funds to PenderFund portfolio. It includes the Pender Enhanced Income Fund that is created by merging the Vertex Growth Fund and the Vertex Fund with the former Vertex Enhanced Income Fund.
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The list also features the Pender Value Fund II, earlier known as the Vertex Value Fund; and the Vertex Managed Value Portfolio rebranded as Pender Partners Fund.
With Pender Enhanced Income Fund, the wealth manager seeks to generate income and long-term growth in value for holders. The other two funds are adjusted to support capital growth over long term as well as reduce volatility by diversifying the capital.
Pender president and CEO David Barr said: “We look forward to continuing to build upon the wonderful legacy of Vertex One Asset Management.
“As an ideas-driven boutique investment firm, we focus on adding value to client portfolios by looking at parts of the market that are overlooked by larger firms.”
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By GlobalDataVertex One Asset Management president John Thiessen said: “It has been six months since we started working with PenderFund Capital Management, and we continue to be incredibly impressed by Pender’s dynamic approach to value investing and consistent performance, as well as by the genuine culture of integrity found across the firm.”
