In the News

Vancouver, B.C. July 12, 2018 – PenderFund Capital Management Ltd. (“Pender”) is pleased to announce that the Pender Value Fund (“the Fund”) has reached its fifth anniversary. The Pender Value Fund is an unconstrained, go-anywhere portfolio consisting of a concentrated group of the “Best Ideas” from the Pender Investment team, including special situations. Holdings have […]

“We believe that this small-cap dominated fund will behave quite differently from any benchmark, and that long-term investors who have the risk tolerance for such an allocation in their portfolios will be rewarded over the long term.” Shehryar Khan from Morningstar discusses how the Pender Value Fund’s “experienced management team looks for a unique mix of growth […]


“They have their technology installed on a billion devices,…“but the number of companies that actually are using it today is much smaller…And that speaks to the huge growth opportunity they have.” David Barr talks to David Dias from the Financial Post about his choice for Canadian Internet of Things (IoT) stocks, Absolute Software Corp. Read full article 

“Technology today is going beyond creating efficiencies in an enterprise. It could help manufacturers transform entire product lines or supply chains.”   Pender Senior Vice President, Maria Pacella, talks to Wealth Professional about the new Pender Technology Inflection Fund which invests in private and public inflection-stage tech companies. Read full article

FANG stocks aren’t everything in tech. Can you get better growth with smaller names? Andrew Bell asks Dave Barr precisely that question on BNN’s Business News. “Obviously [FANG stocks] are a big part of tech and they have changed the way the tech world has evolved over the past decade but when companies get that big […]

“We accept there are good cycles and bad cycles. If the tide is too tough, it doesn’t matter how good a swimmer you are.” Pender CIO Felix Narhi talks to Michael Ryval at Morningstar about finding unloved stocks and how “’micro corrections’ present opportunities”. Read the full article


Pender is pleased to announce the successful initial closing of the Pender Technology Inflection Fund I Limited Partnership. (“the Tech Fund”). Building on the very successful track record of the Pender Small Cap Opportunities Fund, which has a large exposure to public technology companies, Pender has launched the Tech Fund which will target investments in […]

“If you were to sum up the media portrayal of the average tech company’s journey, it’d go something like this: two geeks in a garage create the new “thing” that everyone’s gonna want on their phones or in their homes. They relocate to an office, start scaling up and get bought by Google in a […]


“Stemming from PenderFund’s historical preference for a private equity and venture capital-like approach to investing, the firm’s portfolios are also often dominated by founder-run companies. ‘Obviously there is something going on with the market systematically undervaluing founder-run companies.’”  Felix Narhi talk to Jonathan Ratner. Read the full article

“Price‐to-value considerations are an important part of our investment process – we will buy a stock when we believe we will obtain more intrinsic value than we are paying for,”  Pender’s CIO, Felix Narhi talks to Joe Rosengarten at Wealth Professional Canada about how “companies’ stock prices have become less correlated to their own fundamentals […]

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