Episode 82 – Quarterly Equity Update
October 28, 2021

Episode 82 – Quarterly Equity Update

Sarah Wildman is joined by David Barr and Felix Narhi for the Quarterly Equity Update.

Subtitle: Key themes for the quarter, M&A and Second acts

In this episode Sarah Wildman, Director of Institutional & Family Office Wealth Services, is joined by David Barr, CEO and Portfolio Manager of the Pender Small Cap Opportunities Fund and Felix Narhi, Pender’s Chief Investment Officer and Portfolio Manager of the Pender Global Focused Fund and Pender Strategic Growth & Income Fund. Together, they co-manage the Pender Value Fund. They revisit last quarter’s equity fund performance, looking at key contributors and discuss some of the holdings in detail. The podcast ends with a book recommendation.

Key Takeaways

[1:07] David talks about equity market dynamics for the last quarter.
[1:51] Sarah picks up on M&A and asks about Pender’s participation in the “record levels” of M&A activity?
[3:00] David highlights some companies from the quarter.
[3:53] Felix answers what compounding businesses that are transitioning into their second act means and provides an example.
[12:50] Sarah asks Dave about the recent spike in share price volatility and what it means for Pender.
[16:36] Felix provides an update on Pender’s equity portfolio and how its currently positioned.
[19:32] Felix discusses the Pender Value Fund and its recent performance.
[22:48] Dave explains the strategy behind the Pender Small Mid Cap Dividend Fund and provides some performance update.
[24:05] Felix and Dave discuss volatility and take outs.
[26:30] The team provides a book recommendation.