Why did we bring the Pender Canadian Equity Fund in House?

Written by Investment Team on .

On September 3, 2015, Pender brought management of the Pender Canadian Opportunities Fund in house (formerly the Pender Canadian Equity Fund, sub-advised by Dixon Mitchell Investment Counsel).

Having all of our funds now in house enables better portfolio oversight. The skill set of the investment team provides generous scope to analyse potential investments from both an equity and fixed income angle, which both benefits the investment process and increases risk controls for all of Pender’s portfolios.

Bringing the Fund in-house also offered us the opportunity to align the mandate more closely with the investment strategy of another of our funds. For nearly two years, we have been managing the Pender Canadian All Cap Equity Pooled Fund1 (available only to accredited and institutional investors), which has generated annualised returns of 24%2 since inception. The Pender Canadian Opportunities Fund will employ the same investment strategy as the Pooled Fund – an opportunistic, concentrated portfolio of undervalued Canadian equities with no market cap restrictions, and the name change from “Equity” to “Opportunities” better reflects this. We are excited to overlay this previously institutional mandate onto the Canadian equity fund and bring it to all our investors.

1 Since inception date is December 31, 2013