The Pender Canadian Opportunities Fund is focused on finding undervalued, unfollowed Canadian equities with no market cap constraints. The manager focuses on uncovering market-leading businesses with a distinct competitive edge that have the potential to generate long term capital appreciation. This is sometimes reflected in a higher weighting in the technology sector, with very little resource exposure generally. After deep fundamental analysis those businesses with attractive economic characteristics are purchased at a discount to our estimate of intrinsic value to build out this concentrated portfolio.
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Pender Canadian Opportunities Fund - Fact Sheet
Pender Canadian Opportunities Fund - Fund Facts (A Class)
Pender Canadian Opportunities Fund - Fund Facts (D Class)
Pender Canadian Opportunities Fund - Fund Facts (F Class)
Pender Canadian Opportunities Fund - Fund Facts (H Class)
Pender Canadian Opportunities Fund - Fund Facts (I Class)
David BarrPortfolio Manager
- David Barr
Mr. Barr is the President and CEO of Pender. He is also the Portfolio Manager of several of Pender’s funds.
The Pender Small Cap Opportunities Fund, managed by Mr. Barr, has won a Lipper Fund Award for Best Canadian Small/Mid Cap Fund over both three and five year performance periods for the last three consecutive years, 2015 to 2017. The Lipper awards recognize consistently strong, risk-adjusted performance relative to peers. The Pender Small Cap Opportunities Fund has also received Fundata’s FundGrade® A+ Award for the last six consecutive years, 2012 to 2017. The Pender Value Fund, which he also manages, has received Fundata’s FundGrade® A+ Award in 2016 and 2017. This award recognises funds that have maintained “an exceptional performance rating over the entire previous calendar year”.
Mr. Barr began his investing career in 2000. He initially worked in private equity which gives him a unique background to investing capital. At the end of 2007 he became a partner at PenderFund Capital Management Ltd and was appointed Chief Investment Officer with the objective of launching Pender’s mutual fund business. In April 2016 Mr. Barr was appointed President and CEO of Pender upon the retirement of Kelly Edmison.
Mr. Barr holds a Bachelor of Science degree from the University of British Columbia and an MBA from the Schulich School of Business. He earned his Chartered Financial Analyst (CFA) designation in 2003 and is an active member of the Vancouver chapter. He is a past President of CFA Vancouver, having also served on its Board of Directors for four years.
Mr. Barr has been interviewed for his opinions on small cap, the technology sector and value investing by the Financial Post, The Globe & Mail and other media. He is a regular guest on BNN. In December 2012 Mr. Barr was recognized as one of British Columbia’s “Top Forty Under 40” business leaders by Business in Vancouver.
Mr. Barr is an advocate of value investing, a strategy to estimate the intrinsic value of a company before looking to invest in that company with a “margin of safety” or a discount to intrinsic value. Mr. Barr believes that investing in a company well below intrinsic value decreases the risk and sets it up for generating long term performance and this approach forms the basis of Pender’s overall investment strategy, which aims to preserve and grow clients’ capital.
In order to execute on his value investing strategy Mr. Barr is a true contrarian. To meet his stringent value investing criteria, he looks for value in unpopular places with a view to reducing risk and finding prices that include a margin-of-safety. He refuses to follow the crowds and is driven to find quality at a discount.Continue reading →
- David Barr