Articles by Sharon Wang

Small Cap Equity – June 2023

Written by Sharon Wang

Highlights It was the first month of outperformance for small caps relative to large caps since February. Sylogist Inc. (TSX: SYZ) was a top contributor in the quarter. We are focused on reviewing our holdings […]

July 13, 2023

Small Cap Equity – March 2023

Written by Sharon Wang

HIGHLIGHTS  Small-cap stocks have historically traded at a premium to large caps given their higher growth potential. However, we are now in a market when small caps trade at a significant discount to large caps.  […]

April 19, 2023

Small Cap Equity – December 2022

Written by Sharon Wang

HIGHLIGHTS The Fund had a nice recovery in the fourth quarter with a return of 9.7%. Maxar Technologies Inc. (TSX: MAXR) was a top contributor to the portfolio after private equity firm Advent International made […]

January 18, 2023

Small Cap Equity – September 2022

Written by Sharon Wang

Fellow unit holders, The Pender Small Cap Opportunities returned -12.5% in September, bringing returns so far this year to -34.8%[1]. This was a challenging period for the Fund, which was up against a difficult market […]

October 17, 2022

Small Cap Equity – July 2022

Written by Sharon Wang

Fellow unit holders, In a reversal of the weak equity market performance in the first half of the year, markets posted a strong rebound in July. The macro environment was again in focus with a […]

August 25, 2022

Small Cap Equity – June 2022

Written by Sharon Wang

Fellow unit holders, It has been a volatile first half of the year that has seen significant drawdowns in equity markets as valuations have reset in anticipation of weaker economic growth going forward. Investors have […]

July 13, 2022