Pender Fund Receives Industry Recognition With Fourth Refinitiv Lipper Fund Award

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PenderFund Capital Management Ltd. (“Pender”) is pleased to announce that one of its investment funds has received industry recognition with an award.

The Pender Small Cap Opportunities Fund has been recognized as a Refinitiv Lipper Fund Awards Canada 2021 Winner and named the best Canadian Focused Small/Mid Cap Equity Fund over a ten-year performance period. The awards are based on objective, quantitative criteria and Refinitiv Lipper’s methodology can be viewed here.

“Congratulations to our outstanding equity investment team, including Sharon, Amar, Tracy and Victoria, and in particular, David Barr, who has managed the Fund since inception,” said Felix Narhi, Pender’s CIO. “Our mission at Pender is to actively manage first quartile, differentiated strategies over the long-term for like-minded clients. What makes this award special is that it not only recognizes the long-term performance that we strive to achieve for our clients, but includes the recent period of extreme uncertainty and volatility which stress tested our investment process. The team moved quickly and decisively to protect capital first, but was then able to capitalize on an extraordinary opportunity set.”

This is the fourth time the Pender Small Cap Opportunities Fund has been recognized with a Refinitiv Lipper Fund Award. For three consecutive years from 2015-2017 the Fund was recognized as the best Canadian Small/Mid Cap Equity Fund for its performance over both three and five-year periods.

David Barr, Portfolio Manager of the winning Fund said, “We are truly delighted that the Pender Small Cap Opportunities Fund has been independently recognized with a Refinitiv Lipper Fund Award. With everything that markets have thrown at us, and in particular the dynamics of the small cap universe, I am immensely proud of the investment team behind the numbers. They have stuck to our investment process, uncovering outstanding but overlooked investments in our aim to not only protect but to grow the wealth of our clients, who we thank for their continued support”. He added “We are also very grateful to the talented CEOs and management teams at the helms of these small cap companies who have the courage and drive to build such wonderful businesses”.

The Pender Small Cap Opportunities Fund was launched on June 1, 2009. It is an opportunistic, concentrated portfolio of undervalued small and microcap companies that are predominantly Canadian. The Manager looks for out-of-favour, market-leading businesses with strong underlying economics and management teams. Taking advantage of market inefficiencies, these businesses are purchased with a margin-of-safety, or discount to intrinsic value, with a goal of minimizing downside risk and providing a longer runway to potential capital appreciation. Portfolio holdings include special situations and M&A candidates.

“This year’s Refinitiv Lipper Fund Awards recognized the steadfast resolve of award-winning managers and firms who successfully navigated one of the sharpest market downturns and recoveries on record, enabling investors to maintain a level of economic confidence amidst a backdrop of uncertainty. In a year that endured the impacts of an unprecedented global humanitarian crisis, in which markets reflected investors’ emotions of shock and optimism, there was a degree of solace in having one’s financial fortunes overseen by the stewardship of professional money managers. We congratulate the 2021 Refinitiv Lipper Fund Award winners and wish Pender continued success.” Robert Jenkins, Head of Research, Lipper, Refinitiv.

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. 

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About Refinitiv Lipper Awards
The Refinitiv Lipper Fund Awards, granted annually, highlight funds and fund companies that have excelled in delivering consistently strong risk-adjusted performance relative to their peers. The Refinitiv Lipper Fund Awards are based on the Lipper Leader for Consistent Return rating, which is a risk-adjusted performance measure calculated over 36, 60 and 120 months. The fund with the highest Lipper Leader for Consistent Return (Effective Return) value in each eligible classification wins the Refinitiv Lipper Fund Award.

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Although Refinitiv Lipper makes reasonable efforts to ensure the accuracy and reliability of the data contained herein, the accuracy is not guaranteed by Refinitiv Lipper.

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