Pender Global Small/Mid Cap Equity Fund

The Pender Global Small/Mid Cap Equity Fund* is a concentrated portfolio consisting of the “Best Ideas” across North America from the Pender investment team. The Fund is an actively managed portfolio and seeks to deliver long-term capital appreciation by leveraging a fundamental, bottom-up investment approach. It maintains flexibility to allocate up to 10% of its assets to international equities, allowing for opportunistic exposure and growth outside North America.

* Effective June 27, 2025, the Pender Value Fund was renamed to the Pender Global Small/Mid Cap Equity Fund.

Since Inception returns are from June 2013. All returns greater than a year are annual compounded returns.

Performance (%) - June 30, 20251 Mo.3 Mo.6 Mo.1 Yr.2 Yr.3 Yr.5 Yr.10 Yr.15 Yr.YTDSince InceptionInception Date
A5.48.9-2.922.324.715.59.14.9-2.98.52013-06-07
F5.59.1-2.423.626.116.810.26.0-2.49.72013-06-07
Annual Performance (%)20172018201920202021202220232024YTD
A7.0-9.418.118.9-1.8-31.36.554.2-2.9
F8.0-8.519.320.1-0.8-30.67.755.9-2.4

Standard Performance Data is subject to important disclosures set out in our Disclaimer.

  • Asset Allocation(%)
    Canadian Equities71.3
    US Equities25.7
    Other Assets2.6
    Cash0.4
    Sector Allocation(%)
    Information Technology31.0
    Financial Services15.2
    Industrials11.2
    Health Care10.5
    Consumer Staples8.1
    Insurance7.0
    Real Estate5.2
    Other Sectors4.8
    Energy3.3
    Communication Services3.3
    Cash0.4
    Currency Allocation(%)
    CAD71.8
    USD25.6
    Other2.6
    Top 10 HoldingsFund (%)
    Premium Brands Holdings Corporation5.2
    Coveo Solutions Inc.5.1
    Burford Capital Limited4.3
    Trisura Group Ltd.4.0
    PAR Technology Corporation4.0
    Aecon Group Inc.3.9
    dentalcorp Holdings Ltd.3.7
    Kinaxis Inc.3.7
    Zillow Group, Inc.3.6
    Sangoma Technologies Corporation3.3
    Total Percentage of Top 10 Holdings40.80%
    Total Net Assets of Fund$107,531,293
  • Class Code DescriptionMER1TrailerMin. Investment: Initial/[Subsequent]
    APGF 200Front End2.51%1.00%$500/[$]
    FPGF 210Fee Based1.45%$500/[$]
    HPGF 240Front End - HNW2.21%0.85%$100,000/[$]
    IPGF 250Fee Based - HNW1.31%$100,000/[$]

    1 As at 31-12-2024. The management expense ratio (“MER”) is calculated based on expenses charged to the fund inclusive of applicable taxes including GST and HST (excluding commissions and other portfolio transaction costs) and is expressed as an annualized percentage of average net assets for the period/year. The applicable taxes are calculated using the attribution percentage for each province based on unitholder residency.

    Asset Class: Canadian and US Equity Fund
    Inception Date: June 7, 2013
    Valuation Frequency: Daily
    Distributions: DRIP Annually, Cash Optional
    Benchmark: Blended Benchmark (50% S&P/TSX, 50% S&P500 CAD)
    Portfolio Manager: David Barr, CFA

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  • The Latest

    Pender Value Fund – Q4 2024

    Fund Performance The Pender Value Fund continued to perform well, returning 12.6% in the fourth quarter and bringing 2024 returns to 55.9%[1]. The performance in the quarter outpaced the S&P/TSX Composite Index which gained 3.8%, as well as the S&P/TSX Small Cap Index which gained 0.7%. While broad small caps continued to trail large caps, the performance of the portfolio has outpaced both large and small companies. This is encouraging and demonstrates the waning investor appetite for small caps over the last few years which has left these smaller companies ripe for fundamental research and stock pickers like us. We…

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