{"id":48446,"date":"2023-06-26T06:00:07","date_gmt":"2023-06-26T13:00:07","guid":{"rendered":"https:\/\/penderfund.com\/?post_type=news&#038;p=48446"},"modified":"2025-09-23T15:49:09","modified_gmt":"2025-09-23T22:49:09","slug":"penderfund-capital-management-ltd-announces-fund-mergers","status":"publish","type":"news","link":"https:\/\/penderfund.com\/fr\/news\/penderfund-capital-management-ltd-announces-fund-mergers\/","title":{"rendered":"Gestion de capital Pender lt\u00e9e annonce des fusions de fonds"},"content":{"rendered":"<p><b><span data-contrast=\"auto\">VANCOUVER, B.C., <\/span><\/b><span data-contrast=\"auto\">\u2013 PenderFund Capital Management Ltd. (\u201c<\/span><b><span data-contrast=\"auto\">Pender<\/span><\/b><span data-contrast=\"auto\">\u201d) announces the following fund mergers, effective June 23, 2023: Pender Global Focused Fund (\u201c<\/span><b><span data-contrast=\"auto\">PGFF<\/span><\/b><span data-contrast=\"auto\">\u201d) merged into Pender Value Fund (\u201c<\/span><b><span data-contrast=\"auto\">PVF<\/span><\/b><span data-contrast=\"auto\">), and Pender Strategic Growth and Income Fund (\u201c<\/span><b><span data-contrast=\"auto\">PSGIF<\/span><\/b><span data-contrast=\"auto\">\u201d) merged into Pender Enhanced Income Fund (\u201c<\/span><b><span data-contrast=\"auto\">PEIF<\/span><\/b><span data-contrast=\"auto\">\u201d). The mergers received the requisite unitholder approval on May 23, 2023.\u00a0<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335551550&quot;:6,&quot;335551620&quot;:6,&quot;335559739&quot;:240,&quot;335559740&quot;:240}\">\u00a0<\/span><\/p>\n<p><span data-contrast=\"auto\">On completion of the mergers, each of PVF and PEIF is continuing, and each of PGFF and PSGIF is terminating. Pender, as manager of the terminating funds, has filed an application with the applicable securities regulatory authorities for an order that each of PGFF and PSGIF has ceased to be a reporting issuer in each jurisdiction in which it is currently reporting.\u00a0<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335551550&quot;:6,&quot;335551620&quot;:6,&quot;335559739&quot;:240,&quot;335559740&quot;:240}\">\u00a0<\/span><\/p>\n<p><span data-contrast=\"auto\">Further details regarding each merger, including fee structure, valuation frequency, risk rating and benchmark differences between the continuing and terminating funds, are set forth below.<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335551550&quot;:6,&quot;335551620&quot;:6,&quot;335559739&quot;:240,&quot;335559740&quot;:240}\">\u00a0<\/span><\/p>\n<p><span data-contrast=\"auto\">Additional information regarding the mergers is provided in the management information circular of PGFF dated April 26, 2023, the joint management information circular of PSGIF and PEIF dated April 26, 2023, and the most recent simplified prospectus of the Funds, all of which are available on the SEDAR profile of the relevant Fund at <\/span><a href=\"http:\/\/www.sedar.com\/\"><span data-contrast=\"none\">www.sedar.com<\/span><\/a><span data-contrast=\"none\">.<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335551550&quot;:6,&quot;335551620&quot;:6,&quot;335559739&quot;:240,&quot;335559740&quot;:240}\">\u00a0<\/span><\/p>\n<h4>Pender Enhanced Income Fund (renamed, \u201cPender Strategic Growth and Income Fund\u201d)<\/h4>\n<p><span data-contrast=\"auto\">Effective June 23, 2023, all of the assets and investments of PSGIF were transferred to PEIF and unitholders of PSGIF became unitholders of PEIF.\u00a0 In addition, PEIF changed its name to \u201cPender Strategic Growth and Income Fund\u201d (\u201c<\/span><b><span data-contrast=\"auto\">New PSGIF<\/span><\/b><span data-contrast=\"auto\">\u201d).\u00a0<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335551550&quot;:6,&quot;335551620&quot;:6,&quot;335559739&quot;:240,&quot;335559740&quot;:240}\">\u00a0<\/span><\/p>\n<p><b><span data-contrast=\"auto\">Class Switch and Change in Fee Structure: <\/span><\/b><span data-contrast=\"auto\">On completion of the merger, Class H unitholders of PSGIF received Class A units of New PSGIF. As a result, the management fee for these unitholders will temporarily increase from 1.40% to 1.70% per annum. On or about June 27, 2023, on renewal of the simplified prospectus of New PSGIF and the qualification thereunder of a new Class H (which Class H will be subject to a management fee of 1.40% per annum), Pender intends to automatically exchange Class A units of New PSGIF received by former Class H unitholders of PSGIF for Class H units of New PSGIF. Due to the brief transition period, former Class H unitholders of PSGIF are not expected to be adversely impacted.<\/span><span data-ccp-props=\"{&quot;134233279&quot;:false,&quot;201341983&quot;:0,&quot;335551550&quot;:6,&quot;335551620&quot;:6,&quot;335559685&quot;:0,&quot;335559739&quot;:240,&quot;335559740&quot;:240}\">\u00a0<\/span><\/p>\n<p><b><span data-contrast=\"auto\">Distribution Policy:\u00a0 <\/span><\/b><span data-contrast=\"auto\">Post merger, it is intended that New PSGIF will distribute its net investment income quarterly and its net realized capital gains annually in December of each year.<\/span><span data-ccp-props=\"{&quot;134233279&quot;:false,&quot;201341983&quot;:0,&quot;335551550&quot;:6,&quot;335551620&quot;:6,&quot;335559685&quot;:0,&quot;335559739&quot;:240,&quot;335559740&quot;:240}\">\u00a0<\/span><\/p>\n<p><b><span data-contrast=\"auto\">Risk Rating<\/span><\/b><b><span data-contrast=\"none\">: <\/span><\/b><span data-contrast=\"auto\">New PSGIF<\/span><span data-contrast=\"none\"> risk rating will remain at Medium. The risk rating for each mutual fund is reviewed at a minimum on an annual basis, as well as when the mutual fund undergoes a material change. A summary of the methodology used by Pender to identify the risk rating of New PSGIF can be found in the fund\u2019s simplified prospectus available on SEDAR at www.sedar.com. This methodology is also available by calling toll-free 1-866-377-4743 or sending an email to <\/span><a href=\"mailto:info@penderfund.com\"><span data-contrast=\"none\">info@penderfund.com<\/span><\/a><span data-contrast=\"none\">.<\/span><span data-ccp-props=\"{&quot;134233279&quot;:false,&quot;201341983&quot;:0,&quot;335551550&quot;:6,&quot;335551620&quot;:6,&quot;335559685&quot;:0,&quot;335559739&quot;:240,&quot;335559740&quot;:240}\">\u00a0<\/span><\/p>\n<h4>Pender Value Fund<\/h4>\n<p><span data-contrast=\"auto\">Effective June 23, 2023, all of the assets and investments of PGFF were transferred to PVF and unitholders of PGFF became unitholders of PVF.\u00a0\u00a0<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335551550&quot;:6,&quot;335551620&quot;:6,&quot;335559739&quot;:240,&quot;335559740&quot;:240}\">\u00a0<\/span><\/p>\n<p><b><span data-contrast=\"auto\">Fee Structure<\/span><\/b><\/p>\n<p><span data-contrast=\"auto\">\u00a0The management fee applicable to Class A, F, H and I units of PVF are slightly higher than for the equivalent classes of PGFF, as described below:<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335551550&quot;:6,&quot;335551620&quot;:6,&quot;335559739&quot;:240,&quot;335559740&quot;:240}\">\u00a0<\/span><\/p>\n<table style=\"border-style: solid;\" data-tablestyle=\"MsoTableGrid\" data-tablelook=\"480\" aria-rowcount=\"11\">\n<tbody>\n<tr style=\"border-style: solid;\" aria-rowindex=\"1\">\n<td style=\"border-style: solid; text-align: center;\" data-celllook=\"65536\"><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335551550&quot;:6,&quot;335551620&quot;:6,&quot;335559731&quot;:720,&quot;335559739&quot;:240,&quot;335559740&quot;:240}\">\u00a0<\/span><\/td>\n<td style=\"border-style: solid; text-align: center;\" data-celllook=\"65536\"><b><span data-contrast=\"auto\">Pender Global Focused Fund Management Fee<\/span><\/b><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335551550&quot;:2,&quot;335551620&quot;:2,&quot;335559738&quot;:96,&quot;335559739&quot;:200,&quot;335559740&quot;:276,&quot;335559745&quot;:40}\">\u00a0<\/span><\/td>\n<td style=\"border-style: solid; text-align: center;\" data-celllook=\"65536\"><b><span data-contrast=\"auto\">Pender Value Fund Management Fee<\/span><\/b><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335551550&quot;:2,&quot;335551620&quot;:2,&quot;335559738&quot;:96,&quot;335559739&quot;:200,&quot;335559740&quot;:276,&quot;335559745&quot;:40}\">\u00a0<\/span><\/td>\n<\/tr>\n<tr style=\"border-style: solid;\" aria-rowindex=\"2\">\n<td style=\"border-style: solid; text-align: center;\" data-celllook=\"65536\"><span data-contrast=\"auto\">Class A Units<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335559738&quot;:96,&quot;335559739&quot;:200,&quot;335559740&quot;:276,&quot;335559745&quot;:40}\">\u00a0<\/span><\/td>\n<td style=\"border-style: solid; text-align: center;\" data-celllook=\"65536\"><span data-contrast=\"auto\">1.80%<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335559685&quot;:1060,&quot;335559738&quot;:96,&quot;335559739&quot;:200,&quot;335559740&quot;:276,&quot;335559745&quot;:40}\">\u00a0<\/span><\/td>\n<td style=\"border-style: solid; text-align: center;\" data-celllook=\"0\"><span data-contrast=\"auto\">1.85%<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335559685&quot;:870,&quot;335559738&quot;:96,&quot;335559739&quot;:200,&quot;335559740&quot;:276,&quot;335559745&quot;:40}\">\u00a0<\/span><\/td>\n<\/tr>\n<tr style=\"border-style: solid;\" aria-rowindex=\"3\">\n<td style=\"border-style: solid; text-align: center;\" data-celllook=\"65536\"><span data-contrast=\"auto\">Class A (US$) Units<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335559738&quot;:96,&quot;335559739&quot;:200,&quot;335559740&quot;:276,&quot;335559745&quot;:40}\">\u00a0<\/span><\/td>\n<td style=\"border-style: solid; text-align: center;\" data-celllook=\"65536\"><span data-contrast=\"auto\">1.80%<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335559685&quot;:1060,&quot;335559738&quot;:96,&quot;335559739&quot;:200,&quot;335559740&quot;:276,&quot;335559745&quot;:40}\">\u00a0<\/span><\/td>\n<td style=\"border-style: solid; text-align: center;\" data-celllook=\"0\"><span data-contrast=\"auto\">-\u00a0<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335559685&quot;:870,&quot;335559738&quot;:96,&quot;335559739&quot;:200,&quot;335559740&quot;:276,&quot;335559745&quot;:40}\">\u00a0<\/span><\/td>\n<\/tr>\n<tr style=\"border-style: solid;\" aria-rowindex=\"4\">\n<td style=\"border-style: solid; text-align: center;\" data-celllook=\"65536\"><span data-contrast=\"auto\">Class E Units<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335559738&quot;:96,&quot;335559739&quot;:200,&quot;335559740&quot;:276,&quot;335559745&quot;:40}\">\u00a0<\/span><\/td>\n<td style=\"border-style: solid; text-align: center;\" data-celllook=\"65536\"><span data-contrast=\"auto\">Nil<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335559685&quot;:1060,&quot;335559738&quot;:96,&quot;335559739&quot;:200,&quot;335559740&quot;:276,&quot;335559745&quot;:40}\">\u00a0<\/span><\/td>\n<td style=\"border-style: solid; text-align: center;\" data-celllook=\"0\"><span data-contrast=\"auto\">Nil<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335551550&quot;:2,&quot;335551620&quot;:2,&quot;335559685&quot;:870,&quot;335559738&quot;:96,&quot;335559739&quot;:200,&quot;335559740&quot;:276,&quot;335559745&quot;:40,&quot;335559991&quot;:1318}\">\u00a0<\/span><\/td>\n<\/tr>\n<tr style=\"border-style: solid;\" aria-rowindex=\"5\">\n<td style=\"border-style: solid; text-align: center;\" data-celllook=\"65536\"><span data-contrast=\"auto\">Class F Units<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335559738&quot;:96,&quot;335559739&quot;:200,&quot;335559740&quot;:276,&quot;335559745&quot;:40}\">\u00a0<\/span><\/td>\n<td style=\"border-style: solid; text-align: center;\" data-celllook=\"65536\"><span data-contrast=\"auto\">0.80%<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335559685&quot;:1060,&quot;335559738&quot;:96,&quot;335559739&quot;:200,&quot;335559740&quot;:276,&quot;335559745&quot;:40}\">\u00a0<\/span><\/td>\n<td style=\"border-style: solid; text-align: center;\" data-celllook=\"0\"><span data-contrast=\"auto\">0.85%<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335559685&quot;:870,&quot;335559738&quot;:96,&quot;335559739&quot;:200,&quot;335559740&quot;:276,&quot;335559745&quot;:40}\">\u00a0<\/span><\/td>\n<\/tr>\n<tr style=\"border-style: solid;\" aria-rowindex=\"6\">\n<td style=\"border-style: solid; text-align: center;\" data-celllook=\"65536\"><span data-contrast=\"auto\">Class F (US$) Units<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335559738&quot;:96,&quot;335559739&quot;:200,&quot;335559740&quot;:276,&quot;335559745&quot;:40}\">\u00a0<\/span><\/td>\n<td style=\"border-style: solid; text-align: center;\" data-celllook=\"65536\"><span data-contrast=\"auto\">0.80%<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335559685&quot;:1060,&quot;335559738&quot;:96,&quot;335559739&quot;:200,&quot;335559740&quot;:276,&quot;335559745&quot;:40}\">\u00a0<\/span><\/td>\n<td style=\"border-style: solid; text-align: center;\" data-celllook=\"0\"><span data-contrast=\"auto\">-<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335559685&quot;:870,&quot;335559738&quot;:96,&quot;335559739&quot;:200,&quot;335559740&quot;:276,&quot;335559745&quot;:40}\">\u00a0<\/span><\/td>\n<\/tr>\n<tr style=\"border-style: solid;\" aria-rowindex=\"7\">\n<td style=\"border-style: solid; text-align: center;\" data-celllook=\"65536\"><span data-contrast=\"auto\">Class H Units<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335559738&quot;:96,&quot;335559739&quot;:200,&quot;335559740&quot;:276,&quot;335559745&quot;:40}\">\u00a0<\/span><\/td>\n<td style=\"border-style: solid; text-align: center;\" data-celllook=\"65536\"><span data-contrast=\"auto\">1.50%<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335559685&quot;:1060,&quot;335559738&quot;:96,&quot;335559739&quot;:200,&quot;335559740&quot;:276,&quot;335559745&quot;:40}\">\u00a0<\/span><\/td>\n<td style=\"border-style: solid; text-align: center;\" data-celllook=\"0\"><span data-contrast=\"auto\">1.55%<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335559685&quot;:870,&quot;335559738&quot;:96,&quot;335559739&quot;:200,&quot;335559740&quot;:276,&quot;335559745&quot;:40}\">\u00a0<\/span><\/td>\n<\/tr>\n<tr style=\"border-style: solid;\" aria-rowindex=\"8\">\n<td style=\"border-style: solid; text-align: center;\" data-celllook=\"65536\"><span data-contrast=\"auto\">Class I Units<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335559738&quot;:96,&quot;335559739&quot;:200,&quot;335559740&quot;:276,&quot;335559745&quot;:40}\">\u00a0<\/span><\/td>\n<td style=\"border-style: solid; text-align: center;\" data-celllook=\"65536\"><span data-contrast=\"auto\">0.65%<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335559685&quot;:1060,&quot;335559738&quot;:96,&quot;335559739&quot;:200,&quot;335559740&quot;:276,&quot;335559745&quot;:40}\">\u00a0<\/span><\/td>\n<td style=\"border-style: solid; text-align: center;\" data-celllook=\"0\"><span data-contrast=\"auto\">0.70%<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335559685&quot;:870,&quot;335559738&quot;:96,&quot;335559739&quot;:200,&quot;335559740&quot;:276,&quot;335559745&quot;:40}\">\u00a0<\/span><\/td>\n<\/tr>\n<tr style=\"border-style: solid;\" aria-rowindex=\"9\">\n<td style=\"border-style: solid; text-align: center;\" data-celllook=\"65536\"><span data-contrast=\"auto\">Class N Units<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335559738&quot;:96,&quot;335559739&quot;:200,&quot;335559740&quot;:276,&quot;335559745&quot;:40}\">\u00a0<\/span><\/td>\n<td style=\"border-style: solid; text-align: center;\" data-celllook=\"65536\"><span data-contrast=\"auto\">0.30%<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335559685&quot;:1060,&quot;335559738&quot;:96,&quot;335559739&quot;:200,&quot;335559740&quot;:276,&quot;335559745&quot;:40}\">\u00a0<\/span><\/td>\n<td style=\"border-style: solid; text-align: center;\" data-celllook=\"0\"><span data-contrast=\"auto\">0.30%<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335559685&quot;:870,&quot;335559738&quot;:96,&quot;335559739&quot;:200,&quot;335559740&quot;:276,&quot;335559745&quot;:40}\">\u00a0<\/span><\/td>\n<\/tr>\n<tr style=\"border-style: solid;\" aria-rowindex=\"10\">\n<td style=\"border-style: solid; text-align: center;\" data-celllook=\"65536\"><span data-contrast=\"auto\">Class N (US$) Units<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335559738&quot;:96,&quot;335559739&quot;:200,&quot;335559740&quot;:276,&quot;335559745&quot;:40}\">\u00a0<\/span><\/td>\n<td style=\"border-style: solid; text-align: center;\" data-celllook=\"65536\"><span data-contrast=\"auto\">0.30%<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335559685&quot;:1060,&quot;335559738&quot;:96,&quot;335559739&quot;:200,&quot;335559740&quot;:276,&quot;335559745&quot;:40}\">\u00a0<\/span><\/td>\n<td style=\"border-style: solid; text-align: center;\" data-celllook=\"0\"><span data-contrast=\"auto\">-<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335559685&quot;:870,&quot;335559738&quot;:96,&quot;335559739&quot;:200,&quot;335559740&quot;:276,&quot;335559745&quot;:40}\">\u00a0<\/span><\/td>\n<\/tr>\n<tr style=\"border-style: solid;\" aria-rowindex=\"11\">\n<td style=\"border-style: solid; text-align: center;\" data-celllook=\"65536\"><span data-contrast=\"auto\">Class O Units<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335559738&quot;:96,&quot;335559739&quot;:200,&quot;335559740&quot;:276,&quot;335559745&quot;:40}\">\u00a0<\/span><\/td>\n<td style=\"border-style: solid; text-align: center;\" data-celllook=\"65536\"><span data-contrast=\"auto\">Nil<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335559685&quot;:1060,&quot;335559738&quot;:96,&quot;335559739&quot;:200,&quot;335559740&quot;:276,&quot;335559745&quot;:40}\">\u00a0<\/span><\/td>\n<td style=\"border-style: solid; text-align: center;\" data-celllook=\"0\"><span data-contrast=\"auto\">Nil<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335559685&quot;:870,&quot;335559738&quot;:96,&quot;335559739&quot;:200,&quot;335559740&quot;:276,&quot;335559745&quot;:40}\">\u00a0<\/span><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<p><span data-contrast=\"auto\">As with any fund that it manages, Pender, as manager of PGFF, may increase the management fee for PGFF upon 60 days\u2019 notice to unitholders.\u00a0<\/span><span data-ccp-props=\"{&quot;134233279&quot;:false,&quot;201341983&quot;:0,&quot;335551550&quot;:6,&quot;335551620&quot;:6,&quot;335559685&quot;:0,&quot;335559738&quot;:240,&quot;335559739&quot;:240,&quot;335559740&quot;:240}\">\u00a0<\/span><\/p>\n<p><b><span data-contrast=\"auto\">Valuation Frequency:\u00a0 <\/span><\/b><span data-contrast=\"auto\">PVF has a daily valuation frequency, whereas PGFF had a weekly valuation.<\/span><span data-ccp-props=\"{&quot;134233279&quot;:false,&quot;201341983&quot;:0,&quot;335551550&quot;:6,&quot;335551620&quot;:6,&quot;335559685&quot;:0,&quot;335559739&quot;:240,&quot;335559740&quot;:240}\">\u00a0<\/span><\/p>\n<p><b><span data-contrast=\"auto\">Risk Rating Change<\/span><\/b><b><span data-contrast=\"none\">: <\/span><\/b><span data-contrast=\"none\">PVF\u2019s risk rating is Medium to High, whereas PGFF\u2019s risk rating was High. The risk rating for each mutual fund is reviewed at a minimum on an annual basis, as well as when the mutual fund undergoes a material change. A summary of the methodology used by Pender to identify the risk rating of PVF can be found in the PVF simplified prospectus available on SEDAR at www.sedar.com.\u00a0 This methodology is also available by calling toll-free 1-866-377-4743 or sending an email to <\/span><a href=\"mailto:info@penderfund.com\"><span data-contrast=\"none\">info@penderfund.com<\/span><\/a><span data-contrast=\"none\">.<\/span><span data-ccp-props=\"{&quot;134233279&quot;:false,&quot;201341983&quot;:0,&quot;335551550&quot;:6,&quot;335551620&quot;:6,&quot;335559685&quot;:0,&quot;335559739&quot;:240,&quot;335559740&quot;:240}\">\u00a0<\/span><\/p>\n<p><b><span data-contrast=\"auto\">Benchmark:<\/span><\/b> <span data-contrast=\"none\">The<\/span> <span data-contrast=\"none\">benchmark for PVF is the S&amp;P\/TSX Composite Index, whereas the benchmark for the PGFF was S&amp;P 500 Index\u00a0<\/span><span data-ccp-props=\"{&quot;134233279&quot;:false,&quot;201341983&quot;:0,&quot;335551550&quot;:6,&quot;335551620&quot;:6,&quot;335559685&quot;:0,&quot;335559739&quot;:240,&quot;335559740&quot;:240}\">\u00a0<\/span><\/p>\n<h4>About PenderFund Capital Management Ltd.<\/h4>\n<p><span data-contrast=\"none\">Pender was founded in 2003 and is an independent, employee-owned investment firm located in Vancouver, British Columbia. Our goal is to protect and grow wealth for our investors over time. We have a talented investment team of expert analysts, security selectors and independent thinkers who actively manage a suite of differentiated investment funds, exploiting inefficient parts of the investing universe to achieve our goal.\u00a0<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335551550&quot;:6,&quot;335551620&quot;:6,&quot;335559739&quot;:240,&quot;335559740&quot;:240,&quot;469777462&quot;:[5155],&quot;469777927&quot;:[0],&quot;469777928&quot;:[1]}\">\u00a0<\/span><\/p>\n<p><span data-contrast=\"none\">For more information on Pender, <\/span><span data-contrast=\"auto\">visit <\/span><a href=\"https:\/\/penderfund.com\/\"><span data-contrast=\"none\">www.penderfund.com<\/span><\/a><span data-contrast=\"auto\"> and <\/span><a href=\"http:\/\/www.fondspender.com\/\"><span data-contrast=\"none\">www.fondspender.com<\/span><\/a><span data-contrast=\"auto\">.<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335551550&quot;:6,&quot;335551620&quot;:6,&quot;335559739&quot;:0,&quot;335559740&quot;:240,&quot;469777462&quot;:[5155],&quot;469777927&quot;:[0],&quot;469777928&quot;:[1]}\">\u00a0<\/span><\/p>\n<p><span data-contrast=\"auto\">Please read important disclosures at <\/span><a href=\"https:\/\/penderfund.com\/disclaimer\"><span data-contrast=\"none\">www.penderfund.com\/disclaimer<\/span><\/a><span data-contrast=\"auto\">.\u00a0<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335551550&quot;:6,&quot;335551620&quot;:6,&quot;335559739&quot;:0,&quot;335559740&quot;:240,&quot;469777462&quot;:[5155],&quot;469777927&quot;:[0],&quot;469777928&quot;:[1]}\">\u00a0<\/span><\/p>\n<p><span data-contrast=\"auto\">For further information, please contact:<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335559739&quot;:240,&quot;335559740&quot;:240}\">\u00a0<\/span><\/p>\n<p><b><span data-contrast=\"auto\">Melanie Moore\u00a0<\/span><\/b><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335559739&quot;:0,&quot;335559740&quot;:240}\"><br \/>\n<\/span><span data-contrast=\"auto\">Vice President of Marketing, PenderFund Capital Management Ltd.<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335559739&quot;:0,&quot;335559740&quot;:240}\"><br \/>\n<\/span><span data-contrast=\"auto\">mmoore@penderfund.com<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335559739&quot;:0,&quot;335559740&quot;:240}\"><br \/>\n<\/span><span data-contrast=\"auto\">(604) 688-1511<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335559739&quot;:0,&quot;335559740&quot;:240}\"><br \/>\n<\/span><span data-contrast=\"auto\">Toll Free: (866) 377-4743<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335559739&quot;:120,&quot;335559740&quot;:240}\">\u00a0<\/span><\/p>\n<h4><i>Forward-Looking Information<\/i><\/h4>\n<p><i><span data-contrast=\"auto\">This news release may contain forward-looking information (within the meaning of applicable securities laws) relating to the business and operations of Pender and the Funds (\u201c<\/span><\/i><b><i><span data-contrast=\"auto\">forward-looking statements<\/span><\/i><\/b><i><span data-contrast=\"auto\">\u201d). Forward-looking statements may be identified by words such as \u201cintend\u201d, \u201canticipate\u201d, \u201cproject\u201d, \u201cexpect\u201d, \u201cbelieve\u201d, \u201cplan\u201d, \u201cwill\u201d, \u201cmay\u201d, \u201cestimate\u201d and other similar expressions. These statements are based on Pender\u2019s expectations, estimates, forecasts and projections and include, without limitation, statements regarding New PSGIF\u2019s anticipated class switch and current distribution policy. The forward-looking statements in this news release are based on certain assumptions; they are not guarantees of future performance and involve risks and uncertainties that are difficult to control or predict. A number of factors could cause actual results to differ materially from the results discussed in the forward-looking statements, including, but not limited to, the factors discussed under the heading \u201cRisk Factors\u201d in the simplified prospectus available on the SEDAR profile of each Fund at www.sedar.com. There can be no assurance that forward-looking statements will prove to be accurate as actual outcomes and results may differ materially from those expressed in these forward-looking statements. Readers, therefore, should not place undue reliance on any such forward-looking statements. Further, these forward-looking statements are made as of the date of this news release and, except as expressly required by applicable law, Pender assumes no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events or otherwise.<\/span><\/i><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335551550&quot;:6,&quot;335551620&quot;:6,&quot;335559738&quot;:120,&quot;335559739&quot;:120,&quot;335559740&quot;:240}\">\u00a0<\/span><\/p>\n","protected":false},"featured_media":70418,"template":"","meta":{"_acf_changed":false},"fund-type":[],"news-type":[70],"class_list":["post-48446","news","type-news","status-publish","has-post-thumbnail","hentry","news-type-pender-press-release"],"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>PenderFund Capital Management Ltd. Announces Fund Mergers - 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\/penderfund-capital-management-ltd-announces-fund-mergers\/\" \/>\n<meta property=\"og:locale\" content=\"fr_CA\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"PenderFund Capital Management Ltd. Announces Fund Mergers\" \/>\n<meta property=\"og:description\" content=\"VANCOUVER, B.C., \u2013 PenderFund Capital Management Ltd. (\u201cPender\u201d) announces the following fund mergers, effective June 23, 2023: Pender Global Focused Fund (\u201cPGFF\u201d) merged into Pender Value Fund (\u201cPVF), and Pender Strategic Growth and Income Fund (\u201cPSGIF\u201d) merged into Pender Enhanced Income Fund (\u201cPEIF\u201d). The mergers received the requisite unitholder approval on May 23, 2023.\u00a0\u00a0 On [&hellip;]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/penderfund.com\/fr\/news\/penderfund-capital-management-ltd-announces-fund-mergers\/\" \/>\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=\"2025-09-23T22:49:09+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/penderfund.com\/wp-content\/uploads\/2025\/09\/PRESS-RELEASE-PENDER.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=\"5 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/penderfund.com\/fr\/news\/penderfund-capital-management-ltd-announces-fund-mergers\/\",\"url\":\"https:\/\/penderfund.com\/fr\/news\/penderfund-capital-management-ltd-announces-fund-mergers\/\",\"name\":\"PenderFund Capital Management Ltd. 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