PenderFund Capital Management launches a new US Small/Mid Cap Equity Fund

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VANCOUVER, B.C., November 28, 2024 – PenderFund Capital Management Ltd. (“Pender”) is pleased to announce the launch of the Pender US Small/Mid Cap Equity Fund, designed to provide investors with access to the compelling investment opportunities in the US small- and mid-cap equity market.

Managed by Aman Budhwar, CFA, the Fund seeks to invest in small- and mid-cap companies with a sustainable competitive advantage and an ability to reinvest capital at high rates of return that are positioned to benefit from growth tailwinds. Pender sees the small- and mid-cap investment universe across the border as being rich in dynamic businesses, often with less analyst coverage than their larger cap peers. Aman follows a disciplined, repeatable process, targeting high-quality businesses in growth industries. The Fund is focused on companies with a $500M-$25B (USD) market cap and strong earnings compounding potential with aligned management incentives.

“This is a great time to be launching the Pender US Small/Mid Cap Equity Fund.” Aman commented. “The historical premium at which small- and mid-cap stocks traded relative to large caps has turned into a discount following the strong run up in large caps over recent years. Small/mid-cap companies often operate in emerging or niche sectors with high growth potential. Their business models leverage adaptability and innovation, allowing them to capitalize on new trends and disrupt established industries. Our focus is on finding opportunities that others might overlook, delivering meaningful value to our investors.”

The Pender US Small/Mid Cap Equity Fund leverages Pender’s existing small- and mid-cap investment expertise and will broaden the suite of Pender equity funds available to Canadian investors, joining the existing Pender Small Cap Opportunities Fund (PSCOF) and the Pender Value Fund (PVF).

“I am delighted that Aman will be bringing his decades of expertise in fundamental business analysis to the Pender US Small/Mid Cap Equity Fund”, said David Barr, Pender CEO and Portfolio Manager. “This Fund is a natural fit with our proven small-cap equity investment process and we believe, with the bounty of high-quality small cap companies in the US, we can generate attractive risk-adjusted returns in the US small- and mid-cap space.”

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 www.penderfund.com.

Please read important disclosures at www.penderfund.com/disclaimer.

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

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Forward-Looking Information

This news release contains certain “forward-looking statements” within the meaning of such statements under applicable securities law. Forward-looking statements are frequently characterized by words such as “expect” or “proposed” and other similar words, or statements that certain events or conditions “may” or “will” occur. These statements are only predictions. Forward-looking statements are based on the opinions and estimates of the manager at the date the statements are made, and are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those projected in the forward-looking statements.