Classes B and G of the Pender Small Cap Opportunities Fund are currently open to retail investors.
The Pender Small Cap Opportunities Fund is an opportunistic, concentrated portfolio. The Fund is focused on undervalued small and microcap companies with strong underlying economics, predominantly in Canada. The manager often seeks out special situations, and has a track record of identifying catalysts, where market-leading companies have been acquired. After deep fundamental analysis these businesses are purchased at a discount to our estimate of intrinsic value.
Visit the Pender Small Cap Hub for all of our latest news, information and articles.
Class | Fund Codes | Description | MER* before performance fee | MER* | Min. Investment: Initial/[Subsequent] | Performance Fee |
A | PGF 315 | Front End | 2.64% | 2.64% | $5,000 / [$100] | 20% of excess of total return over benchmark return, subject to a high water mark |
F | PGF 320 | Fee Based | 1.60% | 1.60% | $5,000 / [$100] | 20% of excess of total return over benchmark return, subject to a high water mark |
B | PGF 380 | Front End | 2.65% | 2.65% | $5,000 / [$100] | 20% of excess of total return over benchmark return, subject to a high water mark |
G | PGF 390 | Fee Based | 1.59% | 1.59% | $5,000 / [$100] | 20% of excess of total return over benchmark return, subject to a high water mark |
*As at 2023-06-30. The management expense ratio (“MER”) is calculated based on expenses charged to the fund inclusive of applicable taxes including GST and HST (excluding commissions and other portfolio transaction costs) and is expressed as an annualized percentage of average net assets for the period/year. The applicable taxes are calculated using the attribution percentage for each province based on unitholder residency.
Asset Class: Small Cap Equity |
Inception Date: June 1, 2009 |
Valuation Frequency: Weekly |
Eligibility: Canada-wide, Registered Plans |
Distributions: DRIP annually, cash optional |
Benchmark: S&P/TSX Composite Index |
Portfolio Manager: David Barr, CFA. |
For More Visit: Legal & Financial
Highlights The strong performance into year-end is indicative of a strengthening small cap market. A more stable interest rate environment and improved business strategies among small caps, we believe, will lead to increased M&A by both private equity firms and strategic buyers. We have streamlined the number of positions in the portfolio from 61 to 48 companies. Fund Performance Our Fund went up 6.5% in the quarter[1], beating the Canadian small cap index that was up 6.1% in the quarter. This is in line with our annual results with the Fund up 6.2%, while the Canadian small cap index was…
Standard Performance Data is subject to important disclosures set out in our Disclaimer
Mr. Barr is the CEO of Pender. He is also the Portfolio Manager of several of Pender’s funds.
Join our online community and receive a monthly round up of new blog posts, commentaries, podcasts, media coverage and more.