PenderFund Capital Management Ltd. Launches Emerging Markets Impact Fund
VANCOUVER, B.C. PenderFund Capital Management Ltd. (“Pender”) is pleased to announce the addition of an Emerging Markets Impact Fund to its fund line-up.
The Pender Emerging Markets Impact Fund aims to provide long-term capital growth to investors. The Fund will invest primarily in companies with operations located in emerging market countries, with business models that are of high quality, and which possess positive and sustainable earnings growth potential. Equally important, the Fund will be strongly aligned and partially invested in impact-type holdings that address environmental, social and governance (ESG) issues.
The Fund is managed by Patricia Perez-Coutts who has over 30 years of experience managing emerging markets equities. She is joined by Aman Budhwar, who brings over 20 years of global investing experience, and Phil Stafford whose career spans nearly 40 years and who brings significant experience trading in emerging markets. This team has worked together for many years. They have honed their investment process and will continue to build on their experience and expertise in investing in emerging markets.
“The fund upholds Pender’s investment philosophy of investing in solid companies with the aim of providing significant, risk-adjusted returns in excess of their cost of capital, in this case, from emerging markets,” said Patricia. “And to make such investments more sustainable and rewarding, the fund aims to complement its mix with impact-type investments, thus providing social and environmental, as well as financial returns.”
Patricia Perez-Coutts is one of only a few global emerging market portfolio managers to employ a fundamental, bottom-up approach, based on an Economic Value-Added framework, with ESG impact considerations. While the goal of the Fund is to generate returns from the economic growth and profitability of companies in emerging markets, this growth cannot come at the expense of either the environment or society. The manager is adding an ESG impact component which we believe may enhance profitability for investors. She will look differently at companies that are potential targets for the Fund, paying close attention to their impact from both a business model and a long-term return perspective.
“We are excited to be able to bring the Pender Emerging Markets Impact Fund to clients, said Felix Narhi, Pender’s CIO. “Patricia is closely aligned to Pender’s philosophy in having a fundamental, due diligence process, and we are delighted that her proven team have joined Pender to launch this new Fund. These emerging markets are less efficient than more established markets which makes the potential opportunity set particularly appealing. In addition, it is a good time to be diversifying into emerging markets, given today’s unusually attractive valuations relative to most developed markets. We are also enthusiastic about the Fund’s emphasis on impact investing as it pertains to environmental and social issues, which we believe is especially relevant in emerging markets.”
For more information on the Pender Emerging Markets Impact Fund, please visit:
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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.
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