{"id":28614,"date":"2020-11-23T16:00:17","date_gmt":"2020-11-24T00:00:17","guid":{"rendered":"https:\/\/penderfund.com\/?post_type=news&#038;p=28614"},"modified":"2025-07-24T15:41:50","modified_gmt":"2025-07-24T22:41:50","slug":"news-release-pender-growth-fund-provides-financial-highlights-and-company-updates-3","status":"publish","type":"news","link":"https:\/\/penderfund.com\/fr\/news\/news-release-pender-growth-fund-provides-financial-highlights-and-company-updates-3\/","title":{"rendered":"News Release: Pender Growth Fund Provides Financial Highlights and Company Updates"},"content":{"rendered":"<p><strong>Vancouver, C.-B. (TSXV : PTF) <\/strong>Pender Growth Fund Inc. (the \u201cCompany\u201d) today announced its financial and operational results for the three months and nine months ended September 30, 2020.<\/p>\n<p><strong>Financial Highlights (Unaudited)<\/strong><\/p>\n<ul>\n<li>Net assets per Class C common share (\u201cShare\u201d) were $5.03 as at September 30, 2020 (December 31, 2019 - $4.19).<\/li>\n<li>Management Expense Ratio (\u201cMER\u201d) was 2.96% for the quarter ended September 30, 2020, an improvement compared to the 3.44% MER during the same period in the prior year, primarily due to the the increase in the average value of Net Assets.<\/li>\n<li>The Company\u2019s net assets were $39.1 million as at September 30, 2020 (December 31, 2019 - $33.8 million) reflecting positive investment performance.<\/li>\n<li>Shares outstanding were 7,770,129 (December 31, 2019 \u2013 8,083,329), a decrease from December 31, 2019 that was the result of share repurchases under the Company\u2019s Normal Course Issuer Bid (\u201cNCIB\u201d) that was launched in Q1 2020.<\/li>\n<li>At September 30, 2020, the Company had a 38.7% weighting in private companies and a 50.0% weighting in publicly-listed companies, with 10.0% cash on hand and 1.3% other assets less liabilities.<\/li>\n<li>Net income per Share for the three months ended September 30, 2020 was $0.35 (September 30, 2019 \u2013 a loss of $0.01), primarily due to realized gains from divestments on publicly-listed portfolio companies during the period, net of fees and expenses.<\/li>\n<\/ul>\n<table style=\"width: 98.2665%; border-collapse: collapse; border-style: solid;\">\n<tbody>\n<tr>\n<td style=\"width: 16.6667%; border-style: solid; text-align: center;\"><strong>PERFORMANCE (based on Reported Net Asset Value per Share)<\/strong><\/td>\n<td style=\"width: 11.0698%; border-style: solid; text-align: center;\"><strong>3 mois<\/strong><\/td>\n<td style=\"width: 13.1006%; border-style: solid; text-align: center;\"><strong>CA<\/strong><\/td>\n<td style=\"width: 14.3884%; border-style: solid; text-align: center;\"><strong>1 an<\/strong><\/td>\n<td style=\"width: 13.6949%; border-style: solid; text-align: center;\"><strong>3 ans<\/strong><\/td>\n<td style=\"width: 13.0386%; border-style: solid; text-align: center;\"><strong>5 Year<\/strong><\/td>\n<td style=\"width: 16.424%; border-style: solid; text-align: center;\"><strong>Depuis la cr\u00e9ation<\/strong><\/td>\n<\/tr>\n<tr>\n<td style=\"width: 16.6667%; border-style: solid; text-align: center;\">Cat\u00e9gorie C<\/td>\n<td style=\"width: 11.0698%; border-style: solid; text-align: center;\">8.0%<\/td>\n<td style=\"width: 13.1006%; border-style: solid; text-align: center;\">7.8%<\/td>\n<td style=\"width: 14.3884%; border-style: solid; text-align: center;\">28.0%<\/td>\n<td style=\"width: 13.6949%; border-style: solid; text-align: center;\">3.7%<\/td>\n<td style=\"width: 13.0386%; border-style: solid; text-align: center;\">23.5%<\/td>\n<td style=\"width: 16.424%; border-style: solid; text-align: center;\">16.6%<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<p><strong><br \/>\n\u00a0<\/strong><em>*<\/em><em>It should be noted that total shareholders\u2019 equity per share which is calculated using IFRS for financial reporting purposes may be different from the monthly reported net asset value per share.<\/em><\/p>\n<p><strong>Faits saillants du portefeuille<br \/>\n<\/strong>During the third quarter of 2020 we continued to be active in public markets where we saw what we believed to be strong opportunities both in longer-term compounders and potentially shorter-term close the discount situations.\u00a0We are generally operating at close to fully invested, with enough liquidity to take advantage of situations as they arise.\u00a0As always, we are working closely with our private portfolio companies, especially \u00a0during these times of challenge and opportunity.<\/p>\n<p>We continue to acquire shares of the Company in the market under our NCIB because we believe the shares are trading at a significant discount to intrinsic value.\u00a0We believe that the Company is particularly well-positioned today to pursue its investment objectives in the context of current market volatility and valuations in micro and small cap stocks in North America.<\/p>\n<p>We encourage you to refer to the Company\u2019s MD&amp;A and quarterly unaudited financial statements for September 30, 2020 and the annual audited financial statements for the year-ended December 31, 2019 and other disclosures available under the Company\u2019s profile at <a href=\"http:\/\/www.sedar.com\">www.sedar.com<\/a> .<\/p>\n<p><strong>\u00c0 propos de la soci\u00e9t\u00e9<br \/>\n<\/strong>The Company\u2019s objective is to achieve long-term capital appreciation for its investors. The Company utilizes its small capital base and long-term horizon to invest in unique situations; primarily small cap, special situations, and illiquid public and private companies. The Company trades on the TSX Venture Exchange under the symbol \u201cPTF\u201d.<\/p>\n<p>Veuillez visiter <a href=\"http:\/\/www.pendergrowthfund.com\">www.pendergrowthfund.com<\/a>.<\/p>\n<p>Pour plus de renseignements, veuillez communiquer avec :<\/p>\n<p><strong>Tony Rautava<br \/>\n<\/strong>Gestion de capital PenderFund lt\u00e9e<br \/>\n(604) 653-9625<br \/>\nSans frais : (866) 377-4743<\/p>\n<p><em>Ni la Bourse de croissance TSX ni son fournisseur de services de r\u00e9glementation (tel que ce terme est d\u00e9fini dans les politiques de la Bourse de croissance TSX) n\u2019acceptent de responsabilit\u00e9 quant \u00e0 la pertinence ou \u00e0 l\u2019exactitude du pr\u00e9sent communiqu\u00e9 de presse.<\/em><\/p>\n<p><strong>Renseignements sur les \u00e9nonc\u00e9s prospectifs <br \/>\n<\/strong>Ce communiqu\u00e9 de presse peut contenir des \u00e9nonc\u00e9s prospectifs (avec le sens qu\u2019on leur accorde dans les lois sur les valeurs mobili\u00e8res en vigueur) relatifs \u00e0 la soci\u00e9t\u00e9 et au contexte dans lequel elle exploite. Les \u00e9nonc\u00e9s prospectifs se reconnaissent habituellement \u00e0 l\u2019emploi de termes et expressions comme \u00ab\u2009croire\u2009\u00bb, \u00ab\u2009pr\u00e9voir\u2009\u00bb, \u00ab\u2009anticiper\u2009\u00bb, \u00ab\u2009avoir l\u2019intention de\u2009\u00bb, \u00ab\u2009estimer\u2009\u00bb, \u00ab\u2009planifier\u2009\u00bb et \u00ab\u2009pouvoir\u2009\u00bb, \u00ab\u2009\u00e9valuer\u2009\u00bb et de verbes au futur ou au conditionnel, et autres expressions comparables. Ces \u00e9nonc\u00e9s s\u2019appuient sur les attentes, estimations, pr\u00e9visions et projections de la soci\u00e9t\u00e9 et comprennent, sans toutefois s\u2019y limiter, les \u00e9nonc\u00e9s portant sur la diminution des risques des portefeuilles de la soci\u00e9t\u00e9, ainsi que leurs occasions de placement futures. Les \u00e9nonc\u00e9s prospectifs dans le pr\u00e9sent communiqu\u00e9 de presse sont \u00e9mis sur la base de certaines hypoth\u00e8ses\u202f: le rendement futur n\u2019est pas garanti et suppose des risques et des incertitudes qui sont difficiles \u00e0 contr\u00f4ler ou pr\u00e9voir. Un certain nombre de facteurs pourraient faire en sorte que les r\u00e9sultats r\u00e9els diff\u00e8rent consid\u00e9rablement des r\u00e9sultats discut\u00e9s dans les \u00e9nonc\u00e9s prospectifs, y compris, sans toutefois s\u2019y limiter, les facteurs mentionn\u00e9s dans la section \u00ab\u2009Facteurs de risque\u2009\u00bb de la notice annuelle de la soci\u00e9t\u00e9, offerte sur le site <a href=\"http:\/\/www.sedar.com\">www.sedar.com<\/a>. Rien ne garantit que ces \u00e9nonc\u00e9s prospectifs seront justes, car les r\u00e9sultats r\u00e9els peuvent nettement diff\u00e9rer de ceux pr\u00e9vus dans de tels \u00e9nonc\u00e9s. \u00c0 cet \u00e9gard, le lecteur ne doit pas se fier ind\u00fbment \u00e0 tout \u00e9nonc\u00e9 prospectif. Qui plus est, ces \u00e9nonc\u00e9s prospectifs sont \u00e9mis en date de ce communiqu\u00e9 de presse et, sauf lorsque la loi en vigueur l\u2019exige express\u00e9ment, la soci\u00e9t\u00e9 n\u2019est pas tenue de faire une mise \u00e0 jour publique ou de r\u00e9viser tout \u00e9nonc\u00e9 prospectif, que ce soit \u00e0 la suite d\u2019une nouvelle information, d\u2019\u00e9v\u00e9nements futurs ou de toute autre raison.<\/p>","protected":false},"featured_media":0,"template":"","meta":{"_acf_changed":false},"fund-type":[],"news-type":[],"class_list":["post-28614","news","type-news","status-publish","hentry"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.2 (Yoast SEO v27.2) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>News Release: Pender Growth Fund Provides Financial Highlights and Company Updates - PenderFund Capital Management<\/title>\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\/news\/news-release-pender-growth-fund-provides-financial-highlights-and-company-updates-3\/\" \/>\n<meta property=\"og:locale\" content=\"fr_CA\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"News Release: Pender Growth Fund Provides Financial Highlights and Company Updates\" \/>\n<meta property=\"og:description\" content=\"VANCOUVER, B.C. 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