Pender Small Cap Opportunities Fund

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.

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Performance (%) - January 31, 20251 Mo.3 Mo.6 Mo.1 Yr.2 Yr.3 Yr.5 Yr.10 Yr.15 Yr.YTDSince InceptionInception Date
A-1.57.520.050.624.37.715.211.415.4-1.515.22009-06-01
F-1.47.820.652.225.68.816.412.616.6-1.416.32009-06-01
Annual Performance (%)20172018201920202021202220232024YTD
A8.5-16.319.246.324.7-29.35.157.2-1.5
F9.6-15.420.347.826.0-28.56.258.8-1.4

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

  • Asset Allocation(%)
    Canadian Equities94.3
    US Equities8.0
    Other Assets1.0
    Cash-3.3
    Sector Allocation(%)
    Information Technology45.9
    Health Care15.4
    Energy8.6
    Industrials8.5
    Consumer Discretionary7.2
    Materials7.2
    Utilities6.3
    Other Sectors4.2
    Cash-3.3
    Currency Allocation(%)
    CAD91.5
    USD8.5
    Top 10 HoldingsFund (%)
    Kraken Robotics Inc.4.9
    D2L Inc.4.9
    Sangoma Technologies Corporation4.8
    Blackline Safety Corp.4.6
    PAR Technology Corporation4.5
    Sylogist Ltd.4.4
    Dye & Durham Limited4.2
    TerraVest Industries Inc.4.2
    kneat.com, inc.4.1
    Vitalhub Corp.3.5
    Total Percentage of Top 10 Holdings44.10%
    Total Net Assets of Fund$409,634,900
  • Class Fund Codes  Description MER* before performance fee  MER*   Min. Investment: Initial/[Subsequent] Performance Fee
    A PGF 315 Front End 2.63% 2.63% Closed to new purchases –
    F PGF 320 Fee Based 1.59% 1.59% Closed to new purchases –
    H PGF 342 Front End – HNW 2.27% 2.27% Closed to new purchases –
    B PGF 380 Front End 2.65% 2.65% $5,000 / [$100] 20% of excess of total return over benchmark

    return, subject to a high water mark
    G PGF 390 Fee Based  1.57% 1.57% $5,000 / [$100] 20% of excess of total return over benchmark

    return, subject to a high water mark

    *As at 2024-06-30. 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:  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.

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  • The Latest

    Pender Small Cap Opportunities Fund – Q4 2024

    Highlights  Strong contributors to the Fund included Kraken Robotics Inc. (TSXV: PNG), D2L Inc. (TSX: DTOL), and MDA Space Ltd. (TSX: MDA).   Detractors to the Fund this quarter included Sylogist Ltd. (TSX: SYZ), NFI Group Inc. (TSX: NFI) and Glass House Brands Inc. (OTCPK: GLAS.F). We continue to own them.   The Fund exited several positions (see below) and added Lightspeed Commerce Inc. (TSX: LSPD).   Download the PDF. Fund Performance The positive momentum in the Pender Small Cap Opportunities Fund continued in the fourth quarter of 2024, with the Fund gaining 14.8%.[1] This builds on the previous quarter's gains with the…

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