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.

Since Inception returns are from June 2013. All returns greater than a year are annual compounded returns.

Performance (%) - April 30, 20251 Mo.3 Mo.6 Mo.1 Yr.2 Yr.3 Yr.5 Yr.10 Yr.15 Yr.YTDSince InceptionInception Date
A-1.2-12.9-5.320.519.27.09.03.6-11.97.82013-06-07
F-1.1-12.7-4.821.820.58.210.14.7-11.68.92013-06-07
Annual Performance (%)20172018201920202021202220232024YTD
A7.0-9.418.118.9-1.8-31.36.554.2-11.9
F8.0-8.519.320.1-0.8-30.67.755.9-11.6

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

  • Asset Allocation(%)
    Canadian Equities63.5
    US Equities26.9
    Cash7.0
    Other Assets2.6
    Sector Allocation(%)
    Information Technology30.7
    Financial Services12.9
    Health Care12.1
    Industrials10.8
    Consumer Staples9.0
    Other Sectors7.5
    Cash7.0
    Real Estate5.4
    Insurance4.6
    Currency Allocation(%)
    CAD64.2
    USD33.2
    Other2.6
    Top 10 HoldingsFund (%)
    Premium Brands Holdings Corporation6.0
    Kinaxis Inc.5.4
    Burford Capital Limited5.0
    dentalcorp Holdings Ltd.4.8
    Trisura Group Ltd.4.6
    Sangoma Technologies Corporation4.0
    Zillow Group, Inc.3.8
    Kraken Robotics Inc.3.8
    PAR Technology Corporation3.7
    Molina Healthcare, Inc.3.4
    Total Percentage of Top 10 Holdings44.50%
    Total Net Assets of Fund$98,984,590
  • Class Code DescriptionMER1TrailerMin. Investment: Initial/[Subsequent]
    APGF 200Front End2.51%1.00%$5,000/[$100]
    FPGF 210Fee Based1.45%$5,000/[$100]
    HPGF 240Front End – HNW2.21%0.85%$100,000/[$100]
    IPGF 250Fee Based – HNW1.31%$100,000/[$100]

    1 As at 31-12-2024. 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: Canadian and US Equity Fund
    Inception Date: June 7, 2013
    Valuation Frequency: Daily
    Distributions: DRIP Annually, Cash Optional
    Benchmark: Blended Benchmark (50% S&P/TSX, 50% S&P500 CAD)
    Portfolio Manager: David Barr, CFA

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  • The Latest

    Pender Value Fund – Q4 2024

    Fund Performance The Pender Value Fund continued to perform well, returning 12.6% in the fourth quarter and bringing 2024 returns to 55.9%[1]. The performance in the quarter outpaced the S&P/TSX Composite Index which gained 3.8%, as well as the S&P/TSX Small Cap Index which gained 0.7%. While broad small caps continued to trail large caps, the performance of the portfolio has outpaced both large and small companies. This is encouraging and demonstrates the waning investor appetite for small caps over the last few years which has left these smaller companies ripe for fundamental research and stock pickers like us. We…

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