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.
Highlights The Fund has gained 38.4% year-to-date. Top contributor this quarter was Kraken Robotics Inc., (TSXV: PNG), a marine technology company. Thinkific Labs Inc. (TSX:THNC) was a detractor this quarter subsequent to their SIB as the market waits for business fundamentals to improve. Fund Performance The Pender Value Fund continued to perform well in the […]
The Pender Value Fund had a strong start to the year, gaining 17.3%[1] in the first quarter of 2024. This result compares with gains of 6.6% in the S&P/TSX Composite Index and 7.9% in the S&P/TSX Small Cap Index. In the US, the Russell 2000 Index (CAD) returned 7.5%. The strength in overall equity market […]
Highlights Positive performance in the Fund during the quarter was driven by by D2L Inc. (TSX: DTOL), Dye & Durham Ltd. (TSX: DND) and KKR and Co L.P (NYSE: KKR), Detractors included Baidu Inc. (Nasdaq: BIDU), Tiny Ltd. (CVE: TINY) and Texas Pacific Land Trust (NYSE: TPL). The Fund increased exposure to Canadian equities to […]
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