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.
Standard Performance Data is subject to important disclosures set out in our Disclaimer
|Class||Fund Codes||Description||MER*||Minimum Investment: Initial/[Subsequent]|
|A||PGF 200||Front End||2.51%||$5,000 / [$100]|
|F||PGF 210||Fee Based||1.45%||$5,000 / [$100]|
|H||PGF 240||Front End – HNW||2.20%||$100,000 / [$100]|
|I||PGF 250||Fee Based – HNW||1.29%||$100,000 / [$100]|
*As at 2022-12-31
|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.
For More Visit: Legal & Financial
HIGHLIGHTS At the end of the quarter, small caps were trading at a valuation of 14.5x forward P/E in the S&P 600 Index compared to 19.0x for the S&P 500 Index – a 4.5x discount. This is a far cry from the wide premium that small caps traded at for the decade prior to 2020. Burford is the largest and leading expert in litigation finance and was a top contributor to the portfolio in the quarter. Our weight in Canadian equities grew to 53.3% at the end of the quarter, up from 36.3% in June 2022. As our Canadian exposure…
Mr. Barr is the CEO of Pender. He is also the Portfolio Manager of several of Pender’s funds.
Mr. Narhi is the Chief Investment Officer of Pender and the Portfolio Manager of the Pender Global Focused Fund (formerly the Pender US All Cap Equity Fund) and the Pender Strategic Growth and Income Fund, and Co-Manager of the Pender Value Fund.