Pender Value Fund

The Pender Value Fund is a go-anywhere, concentrated portfolio consisting of the top “Best Ideas” from the Pender investment team, including special situations. Bottom up fundamental analysis of each investment results in a portfolio of securities which we believe have the potential for long term capital appreciation, regardless of market cap or geographical constraints.

Class	Fund Codes	Description	MER (Capped)	Minimum Investment: Initial/[Subsequent]
A	PGF 200	Front End	2.40%	$5,000 / [$100]
F	PGF 210	Fee Based	1.40%	$5,000 / [$100]
H	PGF 240	Front End – HNW	2.10%	$100,000 / [$100]
I	PGF 250	Fee Based – HNW	1.25%	$100,000 / [$100]
D	PGF 260	Discount Brokerage	1.40%	$5,000 / [$100]

Asset Class: Canadian and US Equity Fund
Inception Date: June 28, 2013
Valuation Frequency: Daily
Eligibility: Canada-wide, Registered Plans
Distributions: DRIP annually, cash optional
Benchmark: S&P/TSX Composite Index
Portfolio Manager: David Barr, CFA. Co- Manager: Felix Narhi, CFA.

Monthly
- Pender Value Fund – Profile Sheet – Class F
- Pender Value Fund – Profile Sheet – Class A
Annual (POS)
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The Latest

The Managers Commentary – March 2021

Fellow unit holders, Small cap and technology stocks put the brakes on a little in March after a great run. The Pender Small Cap Opportunities Fund was up modestly by 0.3%[1] for the month and the Pender Value Fund was down by 1.6%1. On a year to date (YTD) basis, the Pender Small Cap Opportunities Fund stands at 18.3% for the first quarter and the Pender Value Fund delivered a total return of 10.7% for the quarter, outperforming large cap indices with the S&P 500 Index (in Canadian dollars) up 4.8% YTD, while the S&P/TSX Composite Index was up 8.1% YTD. Download pdf We are happy to report that both funds have performed consistently well over the long term[2]. The Pender Small Cap Opportunities Fund (inception date June 09, 2009) ranks in the top quartile for one-, three-, five- and 10-year time periods while the Pender Value Fund (inception date…

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Recent Commentaries

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.

Felix Narhi

Chief Investment Officer and Portfolio Manager

Mr. Narhi is the Chief Investment Officer of Pender and the Portfolio Manager of the Pender US All Cap Equity Fund and the Pender Strategic Growth and Income Fund, and Co-Manager of the Pender Value Fund.

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Pender Value Fund

Monthly

Annual (POS)

The Latest

The Managers Commentary – March 2021

Recent Commentaries

David Barr

President, CEO & Portfolio Manager

Felix Narhi

Chief Investment Officer and Portfolio Manager

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