It’s Awards Season and Pender is a Winner
Fundata quantitatively and objectively measures a fund’s performance, or outperformance, against peers. It then grades funds throughout the year. An A grade reflects a fund that has “substantially outperform[ed] its peers by finishing in the top 10% within its category in a given month.*”
The Fundgrade A+ showcases annual achievement by “the best of the best.*” Funds with a whole year of “not only the best risk-adjusted returns, but also … the highest level of consistency through the year.*”
What we especially like about our A+ grade is that it takes into account our performance against all market conditions. Assessing performance in strengthening markets can be impressive but lacks substance. With a remit of preserving capital as well as generating returns, being independently recognized as having consistently outperformed during volatile markets is more meaningful. That said, Pender does not regard volatility as risk, so much as opportunity. Temporary losses in confidence drive prices down and create entry level points for our strong investment candidates.
This award is a reflection of our process. It is partly because of our willingness to act and not flee during market mood swings that contributes to our consistent risk-adjusted returns. As Warren Buffett puts it, “Be fearful when others are greedy and greedy when others are fearful.”