Equity
Classes B and G of the Pender Small Cap Opportunities Fund are currently open to retail investors.
The Pender Small Cap Opportunities Fund is an opportunistic, concentrated portfolio. The Fund is focused on undervalued small and microcap companies with strong underlying economics, predominantly in Canada. The manager often seeks out special situations, and has a track record of identifying catalysts, where market-leading companies have been acquired. After deep fundamental analysis these businesses are purchased at a discount to our estimate of intrinsic value.
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 | 2.4% | 1.9% | 9.2% | 19.2% | 25.2% | 8.0% | 12.3% | 14.7% | 15.2% |
| F | 2.5% | 2.2% | 9.8% | 20.4% | 26.5% | 9.1% | 13.4% | 15.9% | 16.4% |
| B | 2.4% | 1.9% | 9.2% | 19.2% | 25.1% | 8.1% | 11.9% | ||
| G | 2.5% | 2.2% | 9.8% | 20.5% | 26.5% | 9.3% | 12.9% |
| # | Security Name | Fund (%) |
|---|---|---|
| 1 | General Fusion Group Ltd. | 10.3 |
| 2 | Purpose Cash Management Fund | 9.1 |
| 3 | kneat.com, inc. | 5.4 |
| 4 | Kinaxis Inc. | 4.6 |
| 5 | Vitalhub Corp. | 3.9 |
| 6 | TerraVest Industries Inc. | 3.9 |
| 7 | PAR Technology Corporation | 3.5 |
| 8 | Sangoma Technologies Corporation | 3.3 |
| 9 | Coveo Solutions Inc. | 3.3 |
| 10 | Zedcor Inc. | 3.1 |
| Total Percentage of Top 10 Holdings | 50.40 | |
| Total Net Assets of Fund | $488,727,800 | |
| Code | Class | Description | MER | Trailer | Min. Investment Initial/[Subsequent] |
|---|---|---|---|---|---|
| PGF 315 | A | Front End | 2.61 | 1.00 | $500/[$] |
| PGF 320 | F | Fee Based | 1.59 | $500/[$] | |
| PGF 380 | B | Front End | 2.66 | 1.00 | $500/[$] |
| PGF 390 | G | Fee Based | 1.57 | $500/[$] |
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.
In July, the Fund returned 2.5%1, ahead of the S&P/TSX Composite at 1.2% and the Russell 2000, which declined -4.1%, in an eventful month for Canadian and international markets. Canadian markets saw significant divergence in July, characterized by a rotation into value stocks and energy, while growth-oriented segments and broader small-cap indices faced headwinds. Market […]
In Q2, the Fund returned 10.9%, ahead of the S&P/TSX Composite at 7.0%. This is despite a challenging month of June where the Fund returned -3.8%, and the S&P/TSX Composite was up 0.5%. 1 Portfolio weights remain predominantly Canadian, with ~78.7% in Canadian equities and ~12.5% in US equities. The levels of volatility we've grown […]
In May, the Fund returned 3.7%, ahead of the TSX at 2.5%. The S&P 1500 Software & Services Index was the standout of the month, up 14%, led by a handful of outperformers, well ahead of both the S&P 500 (+5%) and the TSX (+2.5%), marking its second consecutive month of positive returns. Even so, […]
"*" indicates required fields
