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 (%) - January 31, 20251 Mo.3 Mo.6 Mo.1 Yr.2 Yr.3 Yr.5 Yr.10 Yr.15 Yr.YTDSince InceptionInception Date
A1.18.719.353.923.17.15.75.71.19.22013-06-07
F1.29.019.955.624.58.36.86.81.210.42013-06-07
Annual Performance (%)20172018201920202021202220232024YTD
A7.0-9.418.118.9-1.8-31.36.554.21.1
F8.0-8.519.320.1-0.8-30.67.755.91.2

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

  • Asset Allocation(%)
    Canadian Equities61.3
    US Equities30.3
    Cash6.1
    Other Assets2.3
    Sector Allocation(%)
    Information Technology30.6
    Industrials12.5
    Financial Services12.1
    Health Care11.6
    Consumer Staples7.0
    Cash6.1
    Real Estate6.0
    Energy4.4
    Consumer Discretionary4.3
    Insurance3.3
    Other Sectors2.1
    Currency Allocation(%)
    CAD63.7
    USD34.0
    Other2.3
    Top 10 HoldingsFund (%)
    Premium Brands Holdings Corporation4.9
    Sangoma Technologies Corporation4.6
    Burford Capital Limited4.4
    D2L Inc.4.3
    Aecon Group Inc.4.1
    Zillow Group, Inc.4.0
    Kinaxis Inc.4.0
    PAR Technology Corporation3.9
    dentalcorp Holdings Ltd.3.5
    Blackline Safety Corp.3.5
    Total Percentage of Top 10 Holdings41.20%
    Total Net Assets of Fund$121,057,300
  • 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 2.21% $100,000 / [$100]
    I PGF 250 Fee Based – HNW 1.30% $100,000 / [$100]

    *As at 2024-06-30. 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: 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.

  • 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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