Pender Small Cap Opportunities Fund
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.
Class Fund Codes Description MER (Capped) Min. Investment: Initial/[Subsequent] Performance Fee A PGF 315 Front End 2.50% F PGF 320 Front End 1.50% I PGF 350 Fee Based - HMW 1.35% N PGF 370 1.00% B PGF 380 Front End 2.50% $5,000 / [$100] 20% of excess of total return over benchmark
return, subject to a high water markG PGF 390 Fee Based 1.50% $5,000 / [$100] 20% of excess of total return over benchmark
return, subject to a high water markAsset 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. Monthly
- Pender Small Cap Opportunities Fund - Profile Sheet - Class F
- Pender Small Cap Opportunities Fund - Profile Sheet - Class A
Annual (POS)
- Pender Small Cap Opportunities Fund - Fund Facts (A Class)
- Pender Small Cap Opportunities Fund - Fund Facts (F Class)
- Pender Small Cap Opportunities Fund - Fund Facts (B Class)
- Pender Small Cap Opportunities Fund - Fund Facts (G Class)
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The Latest
The Manager’s Commentary – September 2020
Fellow Unitholders, Markets decided to take a pause from their dogged return from March lows this month. In September, the S&P 500 (CAD) was down 1.8% and the S&P/TSX Composite was down 2.1%. Our funds performed slightly better compared to general markets with the Pender Value Fund up 1.1% and the Pender Small Cap Opportunities Fund down 1.2%.[1] Download the PDF Looking back at the quarter as a whole, our funds had a great run. The Pender Value Fund generated a total return of 12.2% and the Pender Small Cap Opportunities Fund generated a total return of 14.4%1, while the S&P 500 (CAD) was up 6.8%, the S&P/TSX Composite was up 4.7% and the Russell 3000 (CAD) was up 7.1%. We have started to see early signs that small cap stocks may finally be starting to play some catchup to large caps…but let's not jinx it! Portfolio updates In the…
David Barr
President, CEO & Portfolio Manager
Mr. Barr is the President and CEO of Pender. He is also the Portfolio Manager of several of Pender’s funds.
