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, 2025 | 1 Mo. | 3 Mo. | 6 Mo. | 1 Yr. | 2 Yr. | 3 Yr. | 5 Yr. | 10 Yr. | 15 Yr. | YTD | Since Inception | Inception Date | A | -1.2 | -12.9 | -5.3 | 20.5 | 19.2 | 7.0 | 9.0 | 3.6 | -11.9 | 7.8 | 2013-06-07 | F | -1.1 | -12.7 | -4.8 | 21.8 | 20.5 | 8.2 | 10.1 | 4.7 | -11.6 | 8.9 | 2013-06-07 |
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Annual Performance (%) | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | YTD | A | 7.0 | -9.4 | 18.1 | 18.9 | -1.8 | -31.3 | 6.5 | 54.2 | -11.9 | F | 8.0 | -8.5 | 19.3 | 20.1 | -0.8 | -30.6 | 7.7 | 55.9 | -11.6 |
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Standard Performance Data is subject to important disclosures set out in our Disclaimer.
Asset Allocation | (%) |
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Canadian Equities | 63.5 |
US Equities | 26.9 |
Cash | 7.0 |
Other Assets | 2.6 |
Sector Allocation | (%) |
---|---|
Information Technology | 30.7 |
Financial Services | 12.9 |
Health Care | 12.1 |
Industrials | 10.8 |
Consumer Staples | 9.0 |
Other Sectors | 7.5 |
Cash | 7.0 |
Real Estate | 5.4 |
Insurance | 4.6 |
Currency Allocation | (%) |
---|---|
CAD | 64.2 |
USD | 33.2 |
Other | 2.6 |
Top 10 Holdings | Fund (%) |
Premium Brands Holdings Corporation | 6.0 |
Kinaxis Inc. | 5.4 |
Burford Capital Limited | 5.0 |
dentalcorp Holdings Ltd. | 4.8 |
Trisura Group Ltd. | 4.6 |
Sangoma Technologies Corporation | 4.0 |
Zillow Group, Inc. | 3.8 |
Kraken Robotics Inc. | 3.8 |
PAR Technology Corporation | 3.7 |
Molina Healthcare, Inc. | 3.4 |
Total Percentage of Top 10 Holdings | 44.50% |
Total Net Assets of Fund | $98,984,590 |
Class | Code | Description | MER1 | Trailer | Min. Investment: Initial/[Subsequent] |
---|---|---|---|---|---|
A | PGF 200 | Front End | 2.51% | 1.00% | $5,000/[$100] |
F | PGF 210 | Fee Based | 1.45% | $5,000/[$100] | |
H | PGF 240 | Front End – HNW | 2.21% | 0.85% | $100,000/[$100] |
I | PGF 250 | Fee Based – HNW | 1.31% | $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 |
For More Visit: Legal & Financial
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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