Pender brings management in-house

Vancouver-based PenderFund Capital Management Ltd. now is the portfolio manager for Pender Corporate Bond Fund and Pender Canadian Equity Fund. These funds previously were subadvised by Fulcra Asset Management Inc. and Dixon Mitchell Investment Counsel Inc., respectively (both located in Vancouver). Geoff Castle now is the portfolio manager of Pender Corporate Bond Fund. As a result of the management change, the management expense ratio has dropped for both A-class and F-class units of Pender Corporate Bond Fund. Pender Canadian Equity Fund will be managed by the PenderFund equities team under chief investment officer David Barr. Visit www.penderfund.com for full fee details.

(fcollie@investmentexecutive.com)