David Barr
President, CEO & Portfolio Manager
Mr. Barr is the President and CEO of Pender. He is also the Portfolio Manager of several of Pender’s funds.
Classes B and G of the Pender Small Cap Opportunities Fund are currently open to retail investors.
The Pender Small Cap Opportunities Fund is an opportunistic, concentrated portfolio. The Fund is focused on undervalued small and microcap companies with strong underlying economics, predominantly in Canada. The manager often seeks out special situations, and has a track record of identifying catalysts, where market-leading companies have been acquired. After deep fundamental analysis these businesses are purchased at a discount to our estimate of intrinsic value.
| Class | Fund Codes | Description | MER (Capped) | Min. Investment: Initial/[Subsequent] | Performance Fee |
| A | PGF 315 | Front End | 2.50% | ||
| F | PGF 320 | Fee Based | 1.50% | ||
| I | PGF 350 | Fee Based – HMW | 1.35% | ||
| N | PGF 370 | 1.00% | |||
| B | PGF 380 | Front End | 2.50% | $5,000 / [$100] | 20% of excess of total return over benchmark return, subject to a high water mark |
| G | PGF 390 | Fee Based | 1.50% | $5,000 / [$100] | 20% of excess of total return over benchmark return, subject to a high water mark |
| Asset Class: Small Cap Equity |
| Inception Date: June 1, 2009 |
| Valuation Frequency: Weekly |
| Eligibility: Canada-wide, Registered Plans |
| Distributions: DRIP annually, cash optional |
| Benchmark: S&P/TSX Composite Index |
| Portfolio Manager: David Barr, CFA. |
For More Visit: Legal & Financial
Fellow unit holders, Even though it had its ups and downs, February was another positive month for small cap stocks. The Pender Small Cap Opportunities Fund gained 9.9%[1] for the month and 17.9% YTD, outperforming large cap indices with the S&P 500 Index (in Canadian dollars) up 2.3% for the month and 1.7% for the year, while the S&P/TSX Composite Index (in Canadian dollars) was up 4.4% and 4.0% for the respective periods. The Pender Value Fund finished the month up 3.3%1 delivering a YTD return of 12.6%. It was hit hard by negative news coming out of one of the top holdings (more in the Portfolio Update section below). Download pdf Portfolio Update Volatility spiked up in major stock markets in February but if you know us, you will remember that volatility means opportunity for us. We took the uptick in volatility to adjust portfolio weightings and reposition our…
Mr. Barr is the President and CEO of Pender. He is also the Portfolio Manager of several of Pender’s funds.
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