News Release: Pender Value Fund Reaches 5 Year Anniversary Since Inception

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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 the potential for long term capital appreciation, regardless of market cap or geography.

As of June 28, 2018, the Fund not only reached its fifth year since inception, but also ranked in the top quartile within its category for five year returns in Canada (Morningstar).

“It’s hard to believe that we have arrived at the five year milestone of the Fund and we’d like to thank everyone who believed in our investment process and supported the Fund,” said David Barr, President and co-manager of the Fund.

“As Pender’s flagship ‘best ideas’ fund, it’s satisfying to see our process is working well when investing in companies of different sizes and across various market conditions,” said Felix Narhi, Chief Investment Officer and co-manager of the Fund. “We aim to see the world as it is and, when sifting through opportunities, only act when we believe we are acquiring more value than we are paying for.”

As of June 30, 2018 the return on F-Class units was 18.7% since inception and the Fund’s assets have grown to $350 million.

To listen to a trio of podcasts in which the co-managers of the Fund reflect on the last five years, the evolution of their process,winners, lessons learned and more, please visit our podcast pages.

To learn more visit the Fund’s standard information pages.