Effective June 23, 2023, the Pender Global Focused Fund was merged with the Pender Value Fund. On completion of the Merger all of the assets and investments of the Pender Global Focused Fund were transferred to the Pender Value Fund and unitholders of the Pender Global Focused Fund became unitholders of the 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.
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 2023-12-31. 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. Co- Manager: Felix Narhi, CFA. |
For More Visit: Legal & Financial
Highlights Positive performance in the Fund during the quarter was driven by by D2L Inc. (TSX: DTOL), Dye & Durham Ltd. (TSX: DND) and KKR and Co L.P (NYSE: KKR), Detractors included Baidu Inc. (Nasdaq: BIDU), Tiny Ltd. (CVE: TINY) and Texas Pacific Land Trust (NYSE: TPL). The Fund increased exposure to Canadian equities to 63.8% and reduced weights to international companies to 2.7% at the end of the year to focus on high conviction opportunities in companies we know well. Download the PDF. The Pender Value Fund returned 8.7% in the fourth quarter of 2023, bringing performance for the…
Standard Performance Data is subject to important disclosures set out in our Disclaimer
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 Strategic Growth and Income Fund, and Co-Manager of the Pender Value Fund.
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