PenderFund Announces Risk Rating Change on Pender Global Focused Fund

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PenderFund Capital Management Ltd. (“Pender”), the manager of the Pender mutual funds (the “Funds”), announces that the risk rating of Pender Global Focused Fund (“PGFF”) has changed. As part of its review of the investment risk level of its mutual funds and applying the standardized risk classification methodology as set out in Appendix F to National Instrument 81- 102 – Investment Funds, Pender has determined that the investment risk level of PGFF has changed and the change was reflected in the Funds’ annual simplified prospectus renewal, which was filed on June 28, 2022.

PGFF Risk Rating Change

New Risk Rating

Prior Risk Rating

High for all Classes

Class A, Class E, Class F, Class H, Class I, Class N and Class O:  Medium to High

Class A(US$), Class F(US$) and Class N (US$): High

 A summary of the methodology used by Pender to identify the risk rating of each of the Funds can be found in the Funds’ simplified prospectus available on SEDAR at  This methodology is also available by calling toll-free 1-866-377-4743 or sending an email to

The risk rating for each of the Funds is reviewed at a minimum on an annual basis, as well as when a Fund undergoes a material change.  No material changes have been made to the investment objectives, strategies or management of the Pender Funds.


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.

For more information on Pender and for standard performance information on our funds, please visit and

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