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.
Visit the Pender Small Cap Hub for all of our latest news, information and articles.
Class Fund Codes Description MER* before performance fee MER* Min. Investment: Initial/[Subsequent] Performance Fee A PGF 315 Front End 2.64% 2.64% $5,000 / [$100] 20% of excess of total return over benchmark
return, subject to a high water markF PGF 320 Fee Based 1.60% 1.60% $5,000 / [$100] 20% of excess of total return over benchmark
return, subject to a high water markB 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 markG PGF 390 Fee Based 1.59% 1.59% $5,000 / [$100] 20% of excess of total return over benchmark
return, subject to a high water mark*As at 2023-06-30. 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. Know Your Product
Monthly
- Pender Small Cap Opportunities Fund – Profile Sheet – CAD – Class F
- Pender Small Cap Opportunities Fund – Profile Sheet – CAD – Class A
- Pender Small Cap Opportunities Fund – Profile Sheet – CAD – Class B
- Pender Small Cap Opportunities Fund – Profile Sheet – CAD – Class G
Annual (POS)
- Pender Small Cap Opportunities Fund – Fund Facts – CAD – Class A
- Pender Small Cap Opportunities Fund – Fund Facts – CAD – Class F
- Pender Small Cap Opportunities Fund – Fund Facts – CAD – Class I
- Pender Small Cap Opportunities Fund – Fund Facts – CAD – Class B
- Pender Small Cap Opportunities Fund – Fund Facts – CAD – Class G
For More Visit: Legal & Financial
The Latest
Small Cap Equity – September 2023
Highlights We continue to focus on the fundamentals, rotating into high quality businesses. We initiated new positions in two companies during the quarter that we have been following for a long time but have finally hit our buy zone. Small caps are trading near trough valuations. The re-rating in multiples, we believe, is a tailwind as risk appetite returns and new leadership emerges. The Pender Small Cap Opportunities Fund was down 2.1% in the quarter and remains relatively flat so far in 2023, delivering a return of -0.3 YTD[1]. Not a total coincidence but risk-off has been pulsing through the…
Standard Performance Data is subject to important disclosures set out in our Disclaimer
David Barr
CEO & Portfolio Manager
Mr. Barr is the CEO of Pender. He is also the Portfolio Manager of several of Pender’s funds.
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