• Big Opportunities in Small Cap

    Small Cap Investing at Pender

One of Pender’s core areas of expertise is investing in small cap companies. We have developed a circle of competence over more than twenty years of fundamental analysis and deep due diligence in small caps, which has contributed to a strong, long-term track record of performance.

Why Small Cap?

Small and mid-sized companies are more agile than their supersized brethren and often operate segments of the market where inefficiencies reside. Their relative dynamism compared to large- or mega-cap companies presents us with a range of outcomes to generate potential capital gains for our clients.

Pender’s Approach to Small Cap Investing

At Pender, we employ a private equity approach to public markets, using a deep due diligence, research-based process for identifying and investing in high quality small-to-mid cap companies, with the potential for significant capital appreciation.

Our Process in Practice: Funds

Pender Small Cap Opportunities Fund

An opportunistic, concentrated portfolio focused on undervalued small and microcap companies with strong underlying economics, predominantly in Canada.  

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Pender Small/Mid Cap Dividend Fund

This Fund aims to provide investors with a combination of long-term capital appreciation and a stable quarterly stream of cash distributions.

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Pender Small Cap Opportunities Fund – Small Cap Investing for the Long-Term

In August 2023, PenderFund hosted a webinar in which Portfolio Manager, David Barr, discussed the current positioning of the Pender Small Cap Opportunities Fund including where he is finding quality businesses at attractive valuations. 

For professional investors:


Watch Pender’s CEO and Portfolio Manager, David Barr, present ‘Finding Emerging Compounders’ to the Ivey Business School, at the Ben Graham Centre for Value Investing.