PenderFund Capital Management Ltd. Announces Wind Down of Pender Emerging Markets Impact Fund

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VANCOUVER, B.C. PenderFund Capital Management Ltd. (“Pender”) today announced its intention to wind down the mandate of the Pender Emerging Markets Impact Fund (the “Fund”).  Existing unitholders will be provided with the requisite 60 days notice of intention. After the 60 days notice period, the Fund will fully divest itself of its existing portfolio, converting the assets of the Fund to cash.  All existing third-party unitholders will have their units redeemed.  Unitholders will be able to switch to another Pender managed fund at no charge or will receive redemption proceeds in cash. Further details will be provided in the notice to inform unitholders of their available options. 

During the transition to wind down the Fund, effective today, Felix Narhi will be assuming the role of Portfolio Manager of the Fund. Aman Budhwar will continue to act as Associate Portfolio Manager of the Fund.

Effectively immediately, the Fund will be closed to all trading until end of day November 7, 2022 and will resume trading again on November 8, 2022 only for redemptions, as no further subscriptions for units of the Fund will be accepted.

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 our suite of niche investment funds, exploiting inefficient parts of the investing universe to achieve our goal.

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

Forward-Looking Information

This news release may contain forward-looking information (within the meaning of applicable securities laws) relating to the business and operations of Pender and the Funds (“forward-looking statements”). Forward-looking statements may be identified by words such as “believe”, “anticipate”, “project”, “expect”, “intend”, “plan”, “will”, “may”, “estimate” and other similar expressions. These statements are based on Pender’s expectations, estimates, forecasts and projections and include, without limitation, statements regarding the timing and implementation of any proposed or anticipated changes to the Fund, including but not limited to, the timing and implementation of any divestment of assets, winding down of the Fund or mandatory redemption of units. The forward-looking statements in this news release are based on certain assumptions; they are not guarantees of future performance and involve risks and uncertainties that are difficult to control or predict. A number of factors could cause actual results to differ materially from the results discussed in the forward-looking statements, including, but not limited to, the factors discussed under the heading “Risk Factors” in the simplified prospectus available on the SEDAR profile of the Fund at There can be no assurance that forward-looking statements will prove to be accurate as actual outcomes and results may differ materially from those expressed in these forward-looking statements. Readers, therefore, should not place undue reliance on any such forward-looking statements. Further, these forward-looking statements are made as of the date of this news release and, except as expressly required by applicable law, Pender assumes no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events or otherwise.