Le Fonds d’actions mondiales à petite/moyenne capitalisation Pender* est un portefeuille concentré constitué des « meilleures idées » de placements à l’échelle nord-américaine proposées par l’équipe d’investissement Pender. Le portefeuille du Fonds est activement géré et a pour objectif de produire une plus-value du capital à long terme en mettant à profit son approche ascendante axée sur les données fondamentales. Il a la possibilité d’investir jusqu’à 10 % de son actif dans des actions internationales et ainsi permettre une croissance et une participation opportune à des titres hors Amérique du Nord.
* En vigueur le 27 juin 2025, le Fonds de valeur Pender a été renommé Fonds d’actions mondiales à petite/moyenne capitalisation Pender.
| Catégorie | 1 mois | 3 mois | 6 mois | 1 an | 3 ans | 5 ans | 10 ans | 15 ans | Depuis la création |
|---|---|---|---|---|---|---|---|---|---|
| A | -8,1 | -10,3 | -11,3 | -2,7 | 11,1 | -2,7 | 4,8 | 7,1 | |
| F | -8,0 | -10,1 | -10,9 | -1,6 | 12,4 | -1,6 | 6,1 | 6,4 |
| Catégorie | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Cumul annuel |
|---|---|---|---|---|---|---|---|---|---|---|
| A | 7,0 | -9,4 | 18,1 | 18,9 | -1,8 | -31,3 | 6,5 | 54,2 | -3,3 | -10,3 |
| F | 8,2 | -8,3 | 19,5 | 20,3 | -0,6 | -30,5 | 7,8 | 56,1 | -2,2 | -10,1 |
| Kinaxis Inc. | 5,0 |
| KKR & Co. Inc. | 4,1 |
| Clarivate Plc | 4,0 |
| Fluor Corporation | 3,8 |
| Generac Holdings Inc. | 3,8 |
| Maplebear Inc. | 3,8 |
| StandardAero, Inc. | 3,8 |
| Lumine Group Inc. | 3,8 |
| Dollar Tree, Inc. | 3,7 |
| Telesat Corporation | 3,6 |
| Pourcentage total des 10 principales participations | 39,40 |
| Total de l'actif net du fonds | 75 257 463 $ |
| Code | Catégorie | Description | RFG | Commission de suivi | Placement minimal : initial/[ultérieur] |
|---|---|---|---|---|---|
| PGF 200 | A | Frais à l’achat | 2,48 | 0,85 | 500 $/[$] |
| PGF 250 | F | À honoraires - VNÉ | 1,31 | 500 $/[$] |
Au 31-12-2025. Le ratio des frais de gestion (RFG), à l’exclusion des frais de performance, est calculé en fonction des dépenses imputées au fonds, y compris les taxes applicables, soit la TPS et la TVH, à l’exception des commissions et autres coûts de transaction du portefeuille. Le RFG est exprimé sous forme de pourcentage annualisé de la valeur liquidative nette moyenne pour la période ou l’année. Les taxes applicables sont calculées à l’aide d’un pourcentage déterminé en fonction de la province de résidence des porteurs de parts.
The first quarter of 2026 was marked by significant volatility that continues to reverberate across global markets. The backdrop has been characterized by pronounced dispersion across equity sectors and individual stocks. The global economy entered 2026 following a 2025 "soft landing" supported by AI spending and fiscal stimulus, but Q1 brought heightened geopolitical risks alongside […]
February was an interesting month for investors, marked by elevated volatility and significant return dispersion beneath relatively modest headline index moves. Market leadership continued to shift, and with geopolitical tensions rising into early March, volatility may remain a key dynamic as geopolitical tensions contribute to elevated global uncertainty. Portfolio weights remained approximately 56.7% Canadian equities […]
January was characterized by a sharp shift in investor sentiment, particularly toward growth-oriented sectors. As markets reassessed expectations around artificial intelligence, concerns that AI could materially disrupt traditional software business models resurfaced and weighed heavily on software equities. This narrative assumes that enterprises will increasingly rely on internally developed AI tools rather than purchasing software […]
As the curtain falls upon 2025, markets bow following their final act—with the assurance that, no matter how winding the plot, our revels now are ended. The year unfolded largely as optimists had hoped. Expectations were surpassed, resilience was tested and proven, and investors were broadly rewarded. Yet in such moments, the desire for an […]
As we find ourselves in December, with the holiday season upon us, the question naturally arises: Do you believe in the Santa Rally? This seasonal phenomenon, where equities tend to rise in the run-up to Christmas, is one of the market’s most enduring traditions. Across geographies and market cycles, the pattern persists: according to recent […]
As we enter the final two months of the year, there has been no shortage of excitement for investors. The month began with a US government shutdown, which has now ended after becoming the longest in history at 43 days. Despite this headline risk, corporate earnings have been robust — with 64% of S&P 500 […]
September was another positive month for equities, with global markets hitting record highs despite ongoing uncertainty. In Canada, the S&P/TSX Composite and Small Cap Index reached new levels, while in the US the S&P 500 and Nasdaq advanced on positive performance in technology. Small caps also participated, with the Russell 2000 up 3.8% in September […]
Recap of August Global equities delivered robust results in the month despite the ongoing macroeconomic uncertainty. Small- and mid-cap stocks performed well, with the Russell 2000 gaining over 7% and value indices broadly outperforming large-cap growth. Outside North America, developed international equities, as measured by the FTSE Developed ex-US Index, rose 3.3%, supported by strength […]
Le Fonds de valeur Pender a continué d’exceller au quatrième trimestre en enregistrant un gain de 12,6 % pour établir son cumul annuel à 55,9 %. Le rendement trimestriel du Fonds a devancé celui de l’indice composé S&P/TSX (3,8 %) et celui de l’indice à petite capitalisation S&P/TSX (0,7 %). Bien que les petites [...]
Le Fonds de valeur Pender a continué d’exceller au troisième trimestre en enregistrant un gain de 12,4 %. À des fins comparatives, notons que l’indice composé S&P/TSX et l’indice à petite capitalisation S&P/TSX ont affiché des gains respectifs de 10,5 % et de 7,9 %. Aux États-Unis, l’indice Russell 2000 (CAD) a produit [...]
Le Fonds de valeur Pender a bien commencé l’année en s’avançant de 17,3 % au premier trimestre de 2024. À des fins comparatives, notons que l’indice composé S&P/TSX et l’indice à petite capitalisation S&P/TSX ont affiché des gains respectifs de 6,6 % et 7,9 %. Aux États-Unis, l’indice Russell 2000 (CAD) a [...]
Le Fonds de valeur Pender a dégagé un rendement de 8,7 % au quatrième quartile de 2023, portant son cumul annuel à 7,7 %. Le Fonds a terminé l’année en territoire positif, se hissant de 6,5 % en décembre. Le changement de cap de la Réserve fédérale à l’égard de sa politique monétaire, tant attendu par les [...]
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Highlights Pender Value Fund returned 9.7%[1] in January, following a 4.7% gain in the fourth quarter. Technology holdings now represent the largest sector weight in the portfolio at 37.6% at the end of January, up from 29.3% at the end of June 2022. We see many high-quality tech companies trading at a discount of greater […]
Fellow Unitholders, It has been a volatile first half of the year that has seen significant drawdowns in equity markets as valuations have reset in anticipation of weaker economic growth in the coming quarters. Investors have focused on the macro headwinds of rising interest rates as policymakers are focused on curbing demand to slow inflation. […]
Fellow unit holders, The first quarter of 2022 came to a close with mixed performance to start the year. Investors were focused on macro events on several fronts, including the ongoing conflict in Ukraine, rising commodity prices that underpin already strong inflation, and the start of an interest rate hiking cycle that could dampen growth […]
Fellow unit holders, It was a tough start to 2022, with January being one of the worst months ever for broad indices and our fund. The Pender Value Fund was down 7.0%[1] in January, while large and small-cap indices were also down: the S&P 500 Index (CAD) was down 4.7% and the Russell 2000 Index […]
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