PenderFund Appoints Aman Budhwar as Co-Manager of the Pender Small/Mid Cap Dividend Fund

Written on .

VANCOUVER, B.C. PenderFund Capital Management Ltd. (“Pender”) is pleased to announce that Aman Budhwar, CFA has been appointed Co-Manager of the Pender Small/Mid Cap Dividend Fund. 

Aman joined Pender in February 2022, and will work alongside David Barr, existing Co-Manager of the Fund to seek out compelling investment opportunities in small- and mid-cap companies that are earning an attractive return on invested capital, and have the potential to deliver long-term, risk-adjusted returns for our clients. 

With over 25 years of experience in equity research, analysis and stock-selection, Aman brings a wealth of knowledge and a strong track record of stock-picking to his new position. Throughout his career, Aman has uncovered investment opportunities by analysing long term trends, and adopting a differentiated view to the market. He is methodical in his approach, assessing both the potential bull and bear cases before committing capital to an investment. Over the years, he has developed a process to help identify long term compounders by focusing on key attributes such as a sustainable competitive advantage, high returns on capital, and an attractive free cash flow yield. Aman’s sector-agnostic approach, coupled with his vast experience in markets which demand deep, company-specific knowledge, is advantageous to investors in the small- and mid-cap Canadian equity market. 

The Pender Small/Mid Cap Dividend Fund is designed to provide investors with a combination of long-term capital appreciation and cash distributions. The Fund will invest primarily in Canadian securities, with a focus on dividend paying small- and mid- cap companies though it explores a wider universe of small to medium businesses. 

“I am really excited to be working alongside David Barr on the Fund”, said Aman. “I believe our strategy of identifying high-quality small- and mid-cap stocks early on, before they are bid up in the marketplace, and holding them for the long-term as they compound per-share earnings and cash flow, will be rewarding for our investors. We are particularly attracted towards great businesses that may be operating under a temporary cloud, as we can wait for the storm to pass and sun to shine again.” 

“We are delighted to appoint Aman to the Co-Manager of this Fund,” commented Felix Narhi, Pender’s CIO. “Aman brings a rigorous approach for identifying undervalued quality companies with consistent cashflows which is particularly well suited for this mandate.” 

As part of the appointment, Amar Pandya, CFA will step down from portfolio management duties on the Pender Small Mid/Cap Dividend Fund. Amar will continue as Portfolio Manager on the Pender Alternative Arbitrage Fund and the Pender Alternative Special Situations Fund.  

About PenderFund Capital Management Ltd. 

Pender was founded in 2003 and is an independent, employee-owned investment firm located in Vancouver, British Columbia. Our goal is to protect and grow wealth for our investors over time. We have a talented investment team of expert analysts, security selectors and independent thinkers who actively manage a suite of differentiated investment funds, exploiting inefficient parts of the investing universe to achieve our goal. Please visit 

Please read important disclosures at 

For further information, please contact: 

Melanie Moore  
Vice President of Marketing, PenderFund Capital Management Ltd. 
(604) 688-1511 
Toll Free: (866) 377-4743