Equity
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.
As at June 30, 2026. The management expense ratio ("MER") is calculated based on expenses charged to the fund inclusive of applicable taxes including GST and HST (excluding commissions, performance fees and other portfolio transaction costs) and is expressed as an annualized percentage of average net assets for the period/year. The applicable taxes are calculated using the attribution percentage for each province based on unitholder residency.
| Class | 1 Mo. | 3 Mo. | 6 Mo. | 1 Yr. | 3 Yr. | 5 Yr. | 10 Yr. | 15 Yr. | Since Inception |
|---|---|---|---|---|---|---|---|---|---|
| A | 1.4% | -0.2% | 9.4% | 20.3% | 26.3% | 8.8% | 11.9% | 15.2% | 15.3% |
| F | 1.5% | 0.0% | 10.0% | 21.5% | 27.6% | 9.9% | 13.1% | 16.4% | 16.4% |
| B | 1.4% | -0.3% | 9.4% | 20.2% | 26.2% | 8.8% | 12.0% | ||
| G | 1.5% | 0.0% | 10.0% | 21.5% | 27.6% | 9.9% | 13.0% |
| # | Security Name | Fund (%) |
|---|---|---|
| 1 | Purpose Cash Management Fund | 9.5 |
| 2 | General Fusion Group Ltd. | 8.0 |
| 3 | McDermott International Ltd. | 5.3 |
| 4 | Vitalhub Corp. | 4.9 |
| 5 | Kinaxis Inc. | 4.8 |
| 6 | TerraVest Industries Inc. | 3.9 |
| 7 | PAR Technology Corporation | 3.7 |
| 8 | Sangoma Technologies Corporation | 3.6 |
| 9 | Tantalus Systems Holding Inc. | 3.2 |
| 10 | Coveo Solutions Inc. | 3.2 |
| Total Percentage of Top 10 Holdings | 50.10 | |
| Total Net Assets of Fund | $496,167,335 | |
| Code | Class | Description | MER | Trailer | Min. Investment Initial/[Subsequent] |
|---|---|---|---|---|---|
| PGF 315 | A | Front End | 2.61 | 1.00 | $500/[$] |
| PGF 320 | F | Fee Based | 1.59 | $500/[$] | |
| PGF 380 | B | Front End | 2.66 | 1.00 | $500/[$] |
| PGF 390 | G | Fee Based | 1.57 | $500/[$] |
As at 30-06-2026. The management expense ratio (“MER”) is calculated based on expenses charged to the fund inclusive of applicable taxes including GST and HST (excluding commissions, performance fees and other portfolio transaction costs) and is expressed as an annualized percentage of average net assets for the period/year. The applicable taxes are calculated using the attribution percentage for each province based on unitholder residency.
In August, the Fund returned 1.5%1, ahead of the Russell 2000, which declined -0.1%. 2026 has been a year where software has dominated headlines, from the SaaSpocalypse, to recovery, and back again, and August was no different. Software valuations continue to rebound off 52-week lows, although many of the names we follow have been caught […]
Only available in EnglishIn July, the Fund returned 2.5%1, ahead of the S&P/TSX Composite at 1.2% and the Russell 2000, which declined -4.1%, in an eventful month for Canadian and international markets. Canadian markets saw significant divergence in July, characterized by a rotation into value stocks and energy, while growth-oriented segments and broader small-cap indices faced headwinds. Market […]
In Q2, the Fund returned 10.9%, ahead of the S&P/TSX Composite at 7.0%. This is despite a challenging month of June where the Fund returned -3.8%, and the S&P/TSX Composite was up 0.5%. 1 Portfolio weights remain predominantly Canadian, with ~78.7% in Canadian equities and ~12.5% in US equities. The levels of volatility we've grown […]
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