Equity
The Pender Global Small/Mid Cap Equity Fund* is a concentrated portfolio consisting of the “Best Ideas” across North America from the Pender investment team. The Fund seeks to deliver long-term capital appreciation by leveraging a fundamental, bottom-up investment approach. It maintains flexibility to allocate up to 49% of its assets to international equities, allowing for opportunistic exposure and growth outside North America.
* Effective June 27, 2025, the Pender Value Fund was renamed to the Pender Global Small/Mid Cap Equity Fund.
As at December 31, 2025. The management expense ratio ("MER") is calculated based on expenses charged to the fund inclusive of applicable taxes including GST and HST (excluding commissions, performance fees and other portfolio transaction costs) and is expressed as an annualized percentage of average net assets for the period/year. The applicable taxes are calculated using the attribution percentage for each province based on unitholder residency.
| Class | 1 Mo. | 3 Mo. | 6 Mo. | 1 Yr. | 3 Yr. | 5 Yr. | 10 Yr. | 15 Yr. | Since Inception |
|---|---|---|---|---|---|---|---|---|---|
| A | 2.2% | -0.2% | -2.0% | 13.3% | -0.9% | 4.8% | 7.6% | ||
| F | 0.1% | 2.4% | 0.2% | -1.0% | 14.6% | 0.3% | 6.0% | 7.0% |
| # | Security Name | Fund (%) |
|---|---|---|
| 1 | Kinaxis Inc. | 5.3 |
| 2 | Maplebear Inc. | 4.8 |
| 3 | StandardAero, Inc. | 4.5 |
| 4 | Lumine Group Inc. | 4.3 |
| 5 | CTS Eventim AG & Co. KGaA | 4.3 |
| 6 | KKR & Co. Inc. | 4.1 |
| 7 | Topicus.com Inc. | 4.1 |
| 8 | Addus HomeCare Corporation | 4.0 |
| 9 | Dollar Tree, Inc. | 4.0 |
| 10 | Fluor Corporation | 3.8 |
| Total Percentage of Top 10 Holdings | 43.20 | |
| Total Net Assets of Fund | $72,463,027 | |
| Code | Class | Description | MER | Trailer | Min. Investment Initial/[Subsequent] |
|---|---|---|---|---|---|
| PGF 200 | A | Front End | 2.48 | 0.85 | $500/[$] |
| PGF 250 | F | Fee Based | 1.31 | $500/[$] |
As at 31-12-2025. The management expense ratio (“MER”) is calculated based on expenses charged to the fund inclusive of applicable taxes including GST and HST (excluding commissions, performance fees and other portfolio transaction costs) and is expressed as an annualized percentage of average net assets for the period/year. The applicable taxes are calculated using the attribution percentage for each province based on unitholder residency.
The second quarter of 2026 saw geopolitical headlines and shifting views on technology impacting equity valuations globally. The war in the Middle East began to de-escalate by quarter-end, with Brent crude falling back to more normalized levels after peaking near US$120/barrel in April, though the full market impact is still being assessed. 1 Portfolio weights […]
As we find ourselves in the summer months, markets have not obliged the well-respected summer slowdown, instead greeting us with wave upon wave of volatility. Today's environment is characterized by a significant and widening bifurcation, driven by an unprecedented surge in demand for AI infrastructure and a similar acceleration in national security spending internationally. Nothing […]
The Pender Global Small/Mid Cap Equity Fund returned 6.3%1 in April. Following a pullback of 9.10% from its January high through late March, the S&P 500 rebounded to post a gain of 7.9% for the month and briefly touched new all-time highs. The recovery was driven by three converging events: a partial de-escalation of geopolitical […]
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