{"id":30122,"date":"2021-04-07T17:07:43","date_gmt":"2021-04-08T00:07:43","guid":{"rendered":"https:\/\/penderfund.com\/?post_type=news&#038;p=30122"},"modified":"2025-07-24T15:41:55","modified_gmt":"2025-07-24T22:41:55","slug":"pender-growth-fund-announces-annual-results-and-provides-company-updates","status":"publish","type":"news","link":"https:\/\/penderfund.com\/fr\/news\/pender-growth-fund-announces-annual-results-and-provides-company-updates\/","title":{"rendered":"Mise \u00e0 jour et r\u00e9sultats annuels de Pender Growth Fund"},"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 year ended December 31, 2020.<\/p>\n<p><strong>Faits saillants financiers<\/strong><\/p>\n<ul>\n<li>Net income was $14,475,473 for the year ended December 31, 2020 (December 31, 2019 \u2013 $2,062,881) as a result of investment performance in the year.<\/li>\n<li>Net income per Share for the year ended December 31, 2020 was $1.84 (December 31, 2019 \u2013 $0.31).<\/li>\n<li>Net assets per Class C common share (\u201cShare\u201d) were $6.11 as at December 31, 2020 (December 31, 2019 - $4.19).<\/li>\n<li>The Company\u2019s net assets were $47.3 million as at December 31, 2020 (December 31, 2019 - $33.8 million) reflecting positive investment performance.<\/li>\n<li>Shares outstanding were 7,740,129 (December 31, 2019 \u2013 8,083,329), a decrease from December 31, 2019 which 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>Management Expense Ratio (\u201cMER\u201d) was 5.58% for the year ended December 31, 2020, or 3.20% excluding the performance fee, as compared with the MER of 3.94% in 2019.<\/li>\n<li>At December 31, 2020, the Company had a 34.6% weighting in private companies and a 61.0% weighting in publicly listed companies, with 3.8% cash on hand and 0.6% other assets less liabilities.<\/li>\n<\/ul>\n<table style=\"height: 47px; width: 100%; border-collapse: collapse; border-style: solid; border-color: #000000;\" border=\"0\" cellspacing=\"1\">\n<tbody>\n<tr style=\"height: 24px; border-style: solid;\">\n<td style=\"width: 48.2368%; height: 24px; border-style: solid; text-align: center;\"><strong>PERFORMANCE (based on Net asset value per Share*)<\/strong><\/td>\n<td style=\"width: 13.2871%; height: 24px; border-style: solid; text-align: center;\"><strong>3 mois<\/strong><\/td>\n<td style=\"width: 12.3741%; border-style: solid; text-align: center;\"><strong>1 an<\/strong><strong><br \/>\n<\/strong><\/td>\n<td style=\"width: 11.4138%; border-style: solid; text-align: center;\"><strong>3 ans<\/strong><strong><br \/>\n<\/strong><\/td>\n<td style=\"width: 10.052%; border-style: solid; text-align: center;\"><strong>5 Year<\/strong><strong><br \/>\n<\/strong><\/td>\n<td style=\"width: 4.63634%; border-style: solid; text-align: center;\"><strong>Depuis la cr\u00e9ation<\/strong><strong><br \/>\n<\/strong><\/td>\n<\/tr>\n<tr style=\"height: 23px; border-style: solid; border-color: #000000;\">\n<td style=\"width: 48.2368%; height: 23px; border-color: #000000; text-align: center;\">Cat\u00e9gorie C<\/td>\n<td style=\"width: 13.2871%; height: 23px; border-style: solid; text-align: center;\">20.6%<\/td>\n<td style=\"width: 12.3741%; border-style: solid; text-align: center;\">30.0%<\/td>\n<td style=\"width: 11.4138%; border-style: solid; text-align: center;\">10.6%<\/td>\n<td style=\"width: 10.052%; border-style: solid; text-align: center;\">25.6%<\/td>\n<td style=\"width: 4.63634%; border-style: solid; text-align: center;\">18.3%<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<p><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 year 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.\u00a0With the continued strength in small cap markets, we have been decreasing some positions and continue to work on new opportunities to deploy capital at attractive rates of return.\u00a0<\/p>\n<p>As always, we are working closely with our private portfolio companies and certain of our public portfolio companies, especially during 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. On February 11, 2021, the Company launched a new NCIB, under which the Company may purchase a maximum of 700,866 shares, or 10% of the Company\u2019s public float on launch date, in the year ended February 11, 2022.\u00a0<\/p>\n<p>We 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 annual audited financial statements for the year-ended December 31, 2020 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-30122","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>Pender Growth Fund Announces Annual Results and Provides 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\/pender-growth-fund-announces-annual-results-and-provides-company-updates\/\" \/>\n<meta property=\"og:locale\" content=\"fr_CA\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Pender Growth Fund Announces Annual Results and Provides Company Updates\" \/>\n<meta property=\"og:description\" content=\"VANCOUVER, B.C. (TSXV: PTF) Pender Growth Fund Inc. (the \u201cCompany\u201d) today announced its financial and operational results for the year ended December 31, 2020. Financial Highlights Net income was $14,475,473 for the year ended December 31, 2020 (December 31, 2019 \u2013 $2,062,881) as a result of investment performance in the year. Net income per Share [&hellip;]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/penderfund.com\/fr\/news\/pender-growth-fund-announces-annual-results-and-provides-company-updates\/\" \/>\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=\"2025-07-24T22:41:55+00:00\" \/>\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=\"4 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/penderfund.com\/fr\/news\/pender-growth-fund-announces-annual-results-and-provides-company-updates\/\",\"url\":\"https:\/\/penderfund.com\/fr\/news\/pender-growth-fund-announces-annual-results-and-provides-company-updates\/\",\"name\":\"Pender Growth Fund Announces Annual Results and Provides Company Updates - PenderFund Capital Management\",\"isPartOf\":{\"@id\":\"https:\/\/penderfund.com\/#website\"},\"datePublished\":\"2021-04-08T00:07:43+00:00\",\"dateModified\":\"2025-07-24T22:41:55+00:00\",\"breadcrumb\":{\"@id\":\"https:\/\/penderfund.com\/fr\/news\/pender-growth-fund-announces-annual-results-and-provides-company-updates\/#breadcrumb\"},\"inLanguage\":\"fr-CA\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/penderfund.com\/fr\/news\/pender-growth-fund-announces-annual-results-and-provides-company-updates\/\"]}]},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/penderfund.com\/fr\/news\/pender-growth-fund-announces-annual-results-and-provides-company-updates\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/penderfund.com\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"News\",\"item\":\"https:\/\/penderfund.com\/news\/\"},{\"@type\":\"ListItem\",\"position\":3,\"name\":\"Pender Growth Fund Announces Annual Results and Provides Company Updates\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/penderfund.com\/#website\",\"url\":\"https:\/\/penderfund.com\/\",\"name\":\"PenderFund Capital Management\",\"description\":\"Forward thinking. 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(TSXV: PTF) Pender Growth Fund Inc. (the \u201cCompany\u201d) today announced its financial and operational results for the year ended December 31, 2020. Financial Highlights Net income was $14,475,473 for the year ended December 31, 2020 (December 31, 2019 \u2013 $2,062,881) as a result of investment performance in the year. 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