Pender Value Fund
The Pender Value Fund is a go-anywhere, concentrated portfolio consisting of the top “Best Ideas” from the Pender investment team, including special situations. Bottom up fundamental analysis of each investment results in a portfolio of securities which we believe have the potential for long term capital appreciation, regardless of market cap or geographical constraints.
Class Fund Codes Description MER (Capped) Minimum Investment: Initial/[Subsequent] A PGF 200 Front End 2.40% $5,000 / [$100] F PGF 210 Fee Based 1.40% $5,000 / [$100] H PGF 240 Front End - HNW 2.10% $100,000 / [$100] I PGF 250 Fee Based - HNW 1.25% $100,000 / [$100] D PGF 260 Discount Brokerage 0.90% $5,000 / [$100] Asset Class: Canadian and US Equity Fund Inception Date: June 28, 2013 Valuation Frequency: Daily Eligibility: Canada-wide, Registered Plans Distributions: DRIP annually, cash optional Benchmark: S&P/TSX Composite Index Portfolio Manager: David Barr, CFA.
Co- Manager: Felix Narhi, CFA.
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.
Felix Narhi
Chief Investment Officer and Portfolio Manager
Mr. Narhi is the Chief Investment Officer of Pender and the Portfolio Manager of the Pender US All Cap Equity Fund and the Pender Strategic Growth and Income Fund, and Co-Manager of the Pender Value Fund.
