{"id":74097,"date":"2026-07-10T16:05:12","date_gmt":"2026-07-10T23:05:12","guid":{"rendered":"https:\/\/penderfund.com\/?post_type=commentaries&p=74097"},"modified":"2026-08-11T15:38:15","modified_gmt":"2026-08-11T22:38:15","slug":"pender-us-small-mid-cap-equity-fund-june-2026","status":"publish","type":"commentaries","link":"https:\/\/penderfund.com\/fr\/commentaries\/pender-us-small-mid-cap-equity-fund-june-2026\/","title":{"rendered":"Fonds d\u2019actions am\u00e9ricaines \u00e0 petite\/moyenne capitalisation Pender - juin 2026"},"content":{"rendered":"

Alors que nous arrivons \u00e0 la moiti\u00e9 de 2026, les investisseurs seront peut-\u00eatre surpris d\u2019apprendre que le Russell 2000 a \u00e9t\u00e9 jusqu\u2019\u00e0 pr\u00e9sent le plus performant des principaux indices, surpassant le S&P 500 et de beaucoup les 7 magnifiques et leur m\u00e9gacapitalisation. Les petites entreprises d\u00e9classent les tr\u00e8s grandes par un cumul \u00e0 ce jour de pr\u00e8s de 1 400 points de base. Il s\u2019agit pour un premier semestre de l\u2019\u00e9cart le plus important en trois d\u00e9cennies .1<\/sup><\/a>Le Russell 2000, en hausse de 20 % cette ann\u00e9e, est sur le point d\u2019enregistrer son cinqui\u00e8me mois de gains cons\u00e9cutif. Or, l\u2019attitude des investisseurs raconte une tout autre histoire : les titres des petites entreprises continuent de se d\u00e9battre pour attirer des investissements significatifs, ce qui est plut\u00f4t \u00e9trange \u00e9tant donn\u00e9 leur performance soutenue.<\/p>\n

\"\"<\/p>\n

Source : Morningstar <\/em>as of June 30, 2026 <\/em><\/p>\n

Pourquoi donc? Les noms li\u00e9s \u00e0 l\u2019IA accaparent toujours l\u2019attention des investisseurs, surtout dans l\u2019ar\u00e8ne des semiconducteurs. Le SOX (l\u2019indice Philadelphia Semiconductor, un indice phare pour les fabricants de puces \u00e9lectroniques) accuse un gain de plus de 94 % \u00e0 ce jour en 2026, contre 9 % pour le S&P 500. Il est en passe de conna\u00eetre le meilleur semestre de son histoire, d\u00e9passant de 15 points de pourcentage son pr\u00e9c\u00e9dent record \u00e9tabli au premier semestre de 2000, pendant la bulle Internet. Fait int\u00e9ressant, au sein du S&P 500, 10 titres repr\u00e9sentent 78 % des gains et la plupart d\u2019entre eux se trouvent aussi dans l\u2019indice SOX .3<\/sup><\/a>.<\/p>\n

Ces gains encouragent les lev\u00e9es de fonds. Aux \u00c9tats-Unis, les introductions en bourse et les ventes d\u2019actions totalisaient le montant record de 251 milliards $ au 26 juin, surpassant le sommet semestriel \u00e9tabli en 2021 durant l\u2019explosion des \u00e9missions. Avec son entr\u00e9e en bourse de 86,2 milliards $, SpaceX a battu le record du plus important PAPE de l\u2019histoire; Alphabet a mobilis\u00e9 85 milliards $ suppl\u00e9mentaires lors d\u2019une offre secondaire et Anthropic devrait suivre avec une \u00e9ventuelle introduction en bourse d\u00e8s octobre. L\u2019app\u00e9tit pour les \u00e9missions d\u2019actions li\u00e9es \u00e0 l\u2019IA demeure vif, alors m\u00eame que les questions portant sur leurs donn\u00e9es \u00e9conomiques sous-jacentes se multiplient.<\/p>\n

Il existe une distinction majeure par rapport aux bulles ant\u00e9rieures : les g\u00e9ants technologiques finan\u00e7ant ce d\u00e9veloppement (Google, Microsoft, Amazon, Meta) sont de vraies entreprises dont les mod\u00e8les d\u2019affaires ont depuis longtemps d\u00e9montr\u00e9 leur capacit\u00e9 \u00e0 g\u00e9n\u00e9rer des liquidit\u00e9s. Cela dit, en date de ce commentaire, les 7 magnifiques ont commenc\u00e9 \u00e0 moins bien se comporter que le grand S&P 500, car l\u2019explosion des d\u00e9penses en capital pour l\u2019IA et pour les centres de donn\u00e9es est en train de rogner sur les flux de tr\u00e9sorerie disponibles consid\u00e9r\u00e9s comme \u00e9tant le premier moteur. D\u2019autre part, nous croyons que les titres des petites et moyennes entreprises (PME) contribuant \u00e0 ce d\u00e9veloppement acc\u00e9l\u00e9r\u00e9 pourraient en tirer profit.<\/p>\n

Le portrait des r\u00e9sultats financiers confirme cette tendance. La croissance des 7 magnifiques a d\u00e9c\u00e9l\u00e9r\u00e9, passant d\u2019environ 48 % en 2024 \u00e0 environ 18 % d\u2019ici 2027. Mais quand on se tourne vers les petites entreprises, le Russell 2000 pr\u00e9voit une croissance des r\u00e9sultats d\u2019environ 40 % en 2027, comparativement \u00e0 16 % pour le S&P 500 dans son ensemble. La d\u00e9c\u00e9l\u00e9ration frappant les 7 magnifiques est visible au plan individuel : d\u2019ici 2027 et selon l\u2019estimation g\u00e9n\u00e9rale, le BPA d\u2019Alphabet augmentera de 4 %, celui d\u2019Apple de 7 %, celui de Meta de 8 % et celui de Microsoft de 11 %. Certes, ces entreprises demeurent attrayantes, mais nous croyons qu\u2019elles ne sont plus les locomotives de croissance qui promettaient des ann\u00e9es d\u2019expansions multiples.<\/p>\n

Tandis que les 7 magnifiques font face \u00e0 un profil de r\u00e9sultats plus m\u00fbrs et \u00e0 des valorisations plus \u00e9lev\u00e9es, les PME effectuent des op\u00e9rations pour cr\u00e9er de la valeur. Plusieurs soci\u00e9t\u00e9s de notre portefeuille ont tir\u00e9 avantage du contexte actuel pour se d\u00e9faire d\u2019actifs non essentiels \u2014 y compris Modine Manufacturing Co. (MOD), International Flavors and Fragrances Inc. (IFF), Brookfield Business Corporation Corp. (BBUC), Fluor Corp. (FLR) et Hexcel Corp. (HXL) \u2014 ou ont annonc\u00e9 une r\u00e9vision strat\u00e9gique (Cooper Company). D\u2019autres se sont lanc\u00e9es dans des acquisitions : Booz Allen Hamilton Holding Corp. (BAH), Generac Holdings Inc. (GNRC), Euronet Worldwide Inc. (EEFT), Antero Resources Corp. (AR), LSI Industries Inc. (LYTS), Jabil Inc. (JBL), StandardAero Inc. (SARO), Instacart (CART) et Addus Homecare Corp. (ADUS). Le dernier ajout au portefeuille, Waters Corp. (WAT), a conclu la plus importante acquisition de son histoire, celle de la division des solutions en biosciences et en diagnostic de Becton, Dickinson and Company (BDX). Cette sorte d\u2019activit\u00e9 fondamentale pour une entreprise est sans doute moins spectaculaire que l\u2019engouement suscit\u00e9 par une micropuce destin\u00e9e \u00e0 l\u2019IA, mais elle est durable et constitue pr\u00e9cis\u00e9ment un environnement dans lequel une gestion ascendante active tend vers une plus-value.<\/p>\n

Les conditions par lesquelles les petites entreprises attirent davantage l\u2019attention des investisseurs semblent se mettre en place : une trame de fond plus difficile pour les 7 magnifiques, des inqui\u00e9tudes grandissantes quant aux valorisations des soci\u00e9t\u00e9s au sommet du march\u00e9 et une croissance des r\u00e9sultats qui s\u2019\u00e9tend visiblement.. <\/strong>Le Fonds d\u2019actions am\u00e9ricaines \u00e0 petite\/moyenne capitalisation Pender a \u00e9t\u00e9 con\u00e7u en fonction de cet environnement pr\u00e9cis : des compagnies assez grandes pour avoir des mod\u00e8les d\u2019affaires durables, assez petites pour \u00eatre encore mal \u00e9valu\u00e9es, et bien plac\u00e9es pour profiter des gains d\u2019efficacit\u00e9 engendr\u00e9s par l\u2019IA, mais sans souffrir des d\u00e9penses en capitaux qui p\u00e8sent sur les m\u00e9gaentreprises.<\/p>\n

D\u2019autres mises \u00e0 jour\u00a0<\/strong><\/p>\n

Nous avons mis en place une position dans Copart (CPRT<\/strong>Copart est le plus grand vendeur aux ench\u00e8res de v\u00e9hicules accident\u00e9s des \u00c9tats-Unis. L\u2019entreprise travaille en \u00e9troite collaboration avec les grandes compagnies d\u2019assurance \u00e9tats-uniennes afin de tirer le meilleur prix de v\u00e9hicules d\u00e9clar\u00e9s \u00ab perte totale \u00bb. Elle est fortement engag\u00e9e dans la logistique et les services de remise sur le march\u00e9 requis pour g\u00e9rer la vente en ligne de v\u00e9hicules, tels que le transport des dits v\u00e9hicules et les immatriculations. Selon nous, le march\u00e9 remet en cause l\u2019avantage concurrentiel de Copart en raison de la conjonction de plusieurs facteurs n\u00e9gatifs qui devraient s\u2019amoindrir au fil du temps : certaines parts de march\u00e9 c\u00e9d\u00e9es au deuxi\u00e8me joueur IAA, l\u2019exasp\u00e9ration \u00e0 l\u2019endroit des assureurs de v\u00e9hicule personnels qui n\u2019ont cess\u00e9 ces derni\u00e8res ann\u00e9es d\u2019augmenter fortement les primes (r\u00e9duisant l\u2019offre de v\u00e9hicules pour CPRT) et les cons\u00e9quences impr\u00e9visibles des v\u00e9hicules autonomes sur l\u2019offre de v\u00e9hicules accident\u00e9s. \u00c0 notre avis, Copart constitue la plateforme de ventes en ligne la plus liquide qui permette aux assureurs de tirer le meilleur prix de v\u00e9hicules d\u00e9clar\u00e9s perte totale et de r\u00e9duire leurs frais gr\u00e2ce \u00e0 l\u2019all\u00e8gement du fardeau administratif. Nous croyons que l\u2019entreprise devrait ainsi conserver sa premi\u00e8re position et que les cons\u00e9quences macro\u00e9conomiques de l\u2019industrie de l\u2019automobile personnelle sur sa croissance devraient s\u2019att\u00e9nuer avec le temps.<\/p>\n

Nous avons aussi investi dans Waters Corp (WAT)<\/strong>un chef de file mondial des sciences de la vie et des diagnostics. Sp\u00e9cialis\u00e9e dans les tests r\u00e9glement\u00e9s \u00e0 fort volume, l\u2019entreprise collabore avec ses clients pour acc\u00e9l\u00e9rer la mise en march\u00e9 de m\u00e9dicaments, garantir la comestibilit\u00e9 des aliments et de l\u2019eau, am\u00e9liorer le pronostic des patients gr\u00e2ce \u00e0 la d\u00e9tection pr\u00e9coce des maladies, au traitement des infections courantes et \u00e0 la lutte contre la r\u00e9sistance aux antibiotiques. Au d\u00e9but de 2026, Waters a r\u00e9alis\u00e9 la plus grande transaction de son histoire en se fusionnant \u00e0 la division des sciences de la vie et des diagnostics de Becton, Dickinson and Company par l\u2019interm\u00e9diaire de Reverse Morris Trust. Des r\u00e9sultats trimestriels d\u00e9cevants et la dette contract\u00e9e pour la transaction ont caus\u00e9 un peu de nervosit\u00e9 sur le march\u00e9, ce qui nous a permis de prendre une position dans ce candidat de grande qualit\u00e9.<\/p>\n

Aman Budhwar, CFA
\n<\/strong>10 juillet 2026<\/em><\/p>\n

1<\/sup><\/a> CNBC, 30 juin 2026<\/a><\/em><\/p>\n

2<\/a> <\/sup>Tous les rendements signal\u00e9s sont ceux des parts de cat\u00e9gorie F du Fonds. D\u2019autres cat\u00e9gories de parts sont offertes. Celles-ci pourraient pr\u00e9senter des frais et des rendements diff\u00e9rents. Les donn\u00e9es standards sur le rendement de ce fonds d\u2019actions Pender sont pr\u00e9sent\u00e9es ici : https:\/\/penderfund.com\/fr\/fund\/pender-us-small-mid-cap-equity-fund\/<\/em><\/p>\n

3<\/sup><\/a> Morningstar, 1er juillet 2026<\/a><\/em><\/p>","protected":false},"excerpt":{"rendered":"

As we pass the halfway point of 2026, investors may be surprised to learn that the Russell 2000 has been the top-performing major index so far this year, outpacing the S&P 500 and far exceeding the mega-cap Magnificent 7. Small caps are beating large-cap peers by nearly 1,400 basis points YTD, the largest first-half gap […]<\/p>\n","protected":false},"featured_media":70759,"template":"","meta":{"_acf_changed":false},"fund-type":[36,39],"class_list":["post-74097","commentaries","type-commentaries","status-publish","has-post-thumbnail","hentry","fund-type-equity-funds","fund-type-pender-us-small-mid-cap-equity-fund"],"acf":[],"yoast_head":"\nPender US Small\/Mid Cap Equity Fund June 2026 Update - PenderFund Capital Management<\/title>\n<meta name=\"description\" content=\"Learn about the Pender US Small\/Mid Cap Equity Fund June 2026 and its performance for June 2026.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/penderfund.com\/fr\/commentaries\/pender-us-small-mid-cap-equity-fund-june-2026\/\" \/>\n<meta property=\"og:locale\" content=\"fr_CA\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Pender US Small\/Mid Cap Equity Fund - June 2026\" \/>\n<meta property=\"og:description\" content=\"Learn about the Pender US Small\/Mid Cap Equity Fund June 2026 and its performance for June 2026.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/penderfund.com\/fr\/commentaries\/pender-us-small-mid-cap-equity-fund-june-2026\/\" \/>\n<meta property=\"og:site_name\" content=\"PenderFund Capital Management\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/penderfund\/\" \/>\n<meta property=\"article:modified_time\" content=\"2026-08-11T22:38:15+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/penderfund.com\/wp-content\/uploads\/2025\/09\/PUSMF-1.png\" \/>\n\t<meta property=\"og:image:width\" content=\"850\" \/>\n\t<meta property=\"og:image:height\" content=\"400\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/png\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Estimation du temps de lecture\" \/>\n\t<meta name=\"twitter:data1\" content=\"6 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/penderfund.com\\\/commentaries\\\/pender-us-small-mid-cap-equity-fund-june-2026\\\/\",\"url\":\"https:\\\/\\\/penderfund.com\\\/commentaries\\\/pender-us-small-mid-cap-equity-fund-june-2026\\\/\",\"name\":\"Pender US Small\\\/Mid Cap Equity Fund June 2026 Update - PenderFund Capital Management\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/penderfund.com\\\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\\\/\\\/penderfund.com\\\/commentaries\\\/pender-us-small-mid-cap-equity-fund-june-2026\\\/#primaryimage\"},\"image\":{\"@id\":\"https:\\\/\\\/penderfund.com\\\/commentaries\\\/pender-us-small-mid-cap-equity-fund-june-2026\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/penderfund.com\\\/wp-content\\\/uploads\\\/2025\\\/09\\\/PUSMF-1.png\",\"datePublished\":\"2026-07-10T23:05:12+00:00\",\"dateModified\":\"2026-08-11T22:38:15+00:00\",\"description\":\"Learn about the Pender US Small\\\/Mid Cap Equity Fund June 2026 and its performance for June 2026.\",\"breadcrumb\":{\"@id\":\"https:\\\/\\\/penderfund.com\\\/commentaries\\\/pender-us-small-mid-cap-equity-fund-june-2026\\\/#breadcrumb\"},\"inLanguage\":\"fr-CA\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\\\/\\\/penderfund.com\\\/commentaries\\\/pender-us-small-mid-cap-equity-fund-june-2026\\\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"fr-CA\",\"@id\":\"https:\\\/\\\/penderfund.com\\\/commentaries\\\/pender-us-small-mid-cap-equity-fund-june-2026\\\/#primaryimage\",\"url\":\"https:\\\/\\\/penderfund.com\\\/wp-content\\\/uploads\\\/2025\\\/09\\\/PUSMF-1.png\",\"contentUrl\":\"https:\\\/\\\/penderfund.com\\\/wp-content\\\/uploads\\\/2025\\\/09\\\/PUSMF-1.png\",\"width\":850,\"height\":400},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\\\/\\\/penderfund.com\\\/commentaries\\\/pender-us-small-mid-cap-equity-fund-june-2026\\\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\\\/\\\/penderfund.com\\\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Commentaries\",\"item\":\"https:\\\/\\\/penderfund.com\\\/commentaries\\\/\"},{\"@type\":\"ListItem\",\"position\":3,\"name\":\"Pender US Small\\\/Mid Cap Equity Fund - June 2026\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\\\/\\\/penderfund.com\\\/#website\",\"url\":\"https:\\\/\\\/penderfund.com\\\/\",\"name\":\"PenderFund Capital Management\",\"description\":\"Forward thinking. Finding value.\",\"publisher\":{\"@id\":\"https:\\\/\\\/penderfund.com\\\/#organization\"},\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\\\/\\\/penderfund.com\\\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"fr-CA\"},{\"@type\":\"Organization\",\"@id\":\"https:\\\/\\\/penderfund.com\\\/#organization\",\"name\":\"PenderFund Capital Management\",\"url\":\"https:\\\/\\\/penderfund.com\\\/\",\"logo\":{\"@type\":\"ImageObject\",\"inLanguage\":\"fr-CA\",\"@id\":\"https:\\\/\\\/penderfund.com\\\/#\\\/schema\\\/logo\\\/image\\\/\",\"url\":\"https:\\\/\\\/penderfund.com\\\/wp-content\\\/uploads\\\/2025\\\/06\\\/PenderFund-Cap-Man-Logo_English.png\",\"contentUrl\":\"https:\\\/\\\/penderfund.com\\\/wp-content\\\/uploads\\\/2025\\\/06\\\/PenderFund-Cap-Man-Logo_English.png\",\"width\":850,\"height\":250,\"caption\":\"PenderFund Capital Management\"},\"image\":{\"@id\":\"https:\\\/\\\/penderfund.com\\\/#\\\/schema\\\/logo\\\/image\\\/\"},\"sameAs\":[\"https:\\\/\\\/www.facebook.com\\\/penderfund\\\/\",\"https:\\\/\\\/www.instagram.com\\\/penderfund\\\/\",\"https:\\\/\\\/www.linkedin.com\\\/company\\\/penderfund-capital-management\\\/\"]}]}<\/script>\n<!-- \/ Yoast SEO Premium plugin. -->","yoast_head_json":{"title":"Pender US Small\/Mid Cap Equity Fund June 2026 Update - PenderFund Capital Management","description":"Learn about the Pender US Small\/Mid Cap Equity Fund June 2026 and its performance for June 2026.","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/penderfund.com\/fr\/commentaries\/pender-us-small-mid-cap-equity-fund-june-2026\/","og_locale":"fr_CA","og_type":"article","og_title":"Pender US Small\/Mid Cap Equity Fund - June 2026","og_description":"Learn about the Pender US Small\/Mid Cap Equity Fund June 2026 and its performance for June 2026.","og_url":"https:\/\/penderfund.com\/fr\/commentaries\/pender-us-small-mid-cap-equity-fund-june-2026\/","og_site_name":"PenderFund Capital Management","article_publisher":"https:\/\/www.facebook.com\/penderfund\/","article_modified_time":"2026-08-11T22:38:15+00:00","og_image":[{"width":850,"height":400,"url":"https:\/\/penderfund.com\/wp-content\/uploads\/2025\/09\/PUSMF-1.png","type":"image\/png"}],"twitter_card":"summary_large_image","twitter_misc":{"Estimation du temps de lecture":"6 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"WebPage","@id":"https:\/\/penderfund.com\/commentaries\/pender-us-small-mid-cap-equity-fund-june-2026\/","url":"https:\/\/penderfund.com\/commentaries\/pender-us-small-mid-cap-equity-fund-june-2026\/","name":"Pender US Small\/Mid Cap Equity Fund June 2026 Update - PenderFund Capital Management","isPartOf":{"@id":"https:\/\/penderfund.com\/#website"},"primaryImageOfPage":{"@id":"https:\/\/penderfund.com\/commentaries\/pender-us-small-mid-cap-equity-fund-june-2026\/#primaryimage"},"image":{"@id":"https:\/\/penderfund.com\/commentaries\/pender-us-small-mid-cap-equity-fund-june-2026\/#primaryimage"},"thumbnailUrl":"https:\/\/penderfund.com\/wp-content\/uploads\/2025\/09\/PUSMF-1.png","datePublished":"2026-07-10T23:05:12+00:00","dateModified":"2026-08-11T22:38:15+00:00","description":"Learn about the Pender US Small\/Mid Cap Equity Fund June 2026 and its performance for June 2026.","breadcrumb":{"@id":"https:\/\/penderfund.com\/commentaries\/pender-us-small-mid-cap-equity-fund-june-2026\/#breadcrumb"},"inLanguage":"fr-CA","potentialAction":[{"@type":"ReadAction","target":["https:\/\/penderfund.com\/commentaries\/pender-us-small-mid-cap-equity-fund-june-2026\/"]}]},{"@type":"ImageObject","inLanguage":"fr-CA","@id":"https:\/\/penderfund.com\/commentaries\/pender-us-small-mid-cap-equity-fund-june-2026\/#primaryimage","url":"https:\/\/penderfund.com\/wp-content\/uploads\/2025\/09\/PUSMF-1.png","contentUrl":"https:\/\/penderfund.com\/wp-content\/uploads\/2025\/09\/PUSMF-1.png","width":850,"height":400},{"@type":"BreadcrumbList","@id":"https:\/\/penderfund.com\/commentaries\/pender-us-small-mid-cap-equity-fund-june-2026\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/penderfund.com\/"},{"@type":"ListItem","position":2,"name":"Commentaries","item":"https:\/\/penderfund.com\/commentaries\/"},{"@type":"ListItem","position":3,"name":"Pender US Small\/Mid Cap Equity Fund - June 2026"}]},{"@type":"WebSite","@id":"https:\/\/penderfund.com\/#website","url":"https:\/\/penderfund.com\/","name":"Gestion de capital PenderFund lt\u00e9e","description":"Forward thinking. Finding value.","publisher":{"@id":"https:\/\/penderfund.com\/#organization"},"potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/penderfund.com\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"fr-CA"},{"@type":"Organization","@id":"https:\/\/penderfund.com\/#organization","name":"Gestion de capital PenderFund lt\u00e9e","url":"https:\/\/penderfund.com\/","logo":{"@type":"ImageObject","inLanguage":"fr-CA","@id":"https:\/\/penderfund.com\/#\/schema\/logo\/image\/","url":"https:\/\/penderfund.com\/wp-content\/uploads\/2025\/06\/PenderFund-Cap-Man-Logo_English.png","contentUrl":"https:\/\/penderfund.com\/wp-content\/uploads\/2025\/06\/PenderFund-Cap-Man-Logo_English.png","width":850,"height":250,"caption":"PenderFund Capital Management"},"image":{"@id":"https:\/\/penderfund.com\/#\/schema\/logo\/image\/"},"sameAs":["https:\/\/www.facebook.com\/penderfund\/","https:\/\/www.instagram.com\/penderfund\/","https:\/\/www.linkedin.com\/company\/penderfund-capital-management\/"]}]}},"_links":{"self":[{"href":"https:\/\/penderfund.com\/fr\/wp-json\/wp\/v2\/commentaries\/74097","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/penderfund.com\/fr\/wp-json\/wp\/v2\/commentaries"}],"about":[{"href":"https:\/\/penderfund.com\/fr\/wp-json\/wp\/v2\/types\/commentaries"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/penderfund.com\/fr\/wp-json\/wp\/v2\/media\/70759"}],"wp:attachment":[{"href":"https:\/\/penderfund.com\/fr\/wp-json\/wp\/v2\/media?parent=74097"}],"wp:term":[{"taxonomy":"fund-type","embeddable":true,"href":"https:\/\/penderfund.com\/fr\/wp-json\/wp\/v2\/fund-type?post=74097"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}