Effective June 23, 2023, the Pender Global Focused Fund was merged with the Pender Value Fund. On completion of the Merger all of the assets and investments of the Pender Global Focused Fund were transferred to the Pender Value Fund and unitholders of the Pender Global Focused Fund became unitholders of the Pender Value Fund.
The Pender Value Fund is a go-anywhere, concentrated portfolio consisting of the top “Best Ideas” from the Pender investment team, including special situations. Bottom up fundamental analysis of each investment results in a portfolio of securities which we believe have the potential for long term capital appreciation, regardless of market cap or geographical constraints.
Since Inception returns are from June 2013. All returns greater than a year are annual compounded returns.
Standard Performance Data is subject to important disclosures set out in our Disclaimer.Performance (%) - 2024-06-28 1 Mo. 3 Mo. 6 Mo. 1 Yr. 2 Yr. 3 Yr. 5 Yr. 10 Yr. YTD Since Inception Inception Date A 5.5 4.7 22.5 27.3 12.3 -7.7 1.5 5.0 22.5 7.4 2013-06-28 F 5.5 5.0 23.1 28.6 13.5 -6.7 2.6 6.2 23.1 8.6 2013-06-28 Annual Performance (%) 2016 2017 2018 2019 2020 2021 2022 2023 YTD A 18.3 7.0 -9.4 18.1 18.9 -1.8 -31.3 6.5 22.5 F 19.5 8.0 -8.5 19.3 20.1 -0.8 -30.6 7.7 23.1
Asset Allocation | (%) |
---|---|
Canadian Equities | 72.0 |
Us Equities | 30.2 |
Foreign Equities | 3.0 |
Cash | -5.2 |
Sector Allocation | (%) |
---|---|
Information Technology | 44.4 |
Financial Services | 15.9 |
Industrials | 11.4 |
Energy | 6.4 |
Consumer Staple | 5.6 |
Health Care | 5.6 |
Consumer Discretionary | 4.8 |
Real Estate | 4.7 |
Materials | 4.4 |
Communication Services | 1.2 |
Insurance | 0.8 |
Cash | -5.2 |
Currency Allocation | (%) |
---|---|
Cad | 66.8 |
Usd | 30.2 |
Other | 3.0 |
Top 10 Holdings | Fund (%) |
Copperleaf Technologies Inc. | 6.1 |
Sangoma Technologies Corporation | 5.2 |
Burford Capital Limited | 5.0 |
PAR Technology Corporation | 4.8 |
Dye & Durham Limited | 4.7 |
Kraken Robotics Inc. | 4.7 |
Interactive Brokers Group Inc. | 4.4 |
CCL Industries Inc. | 4.4 |
Thinkific Labs Inc. | 4.2 |
D2L Inc. | 4.2 |
Total Percentage of Top 10 Holdings | 47.70% |
Total Net Assets of Fund | $102,655,100 |
Class | Fund Codes | Description | MER* | Minimum Investment: Initial/[Subsequent] |
A | PGF 200 | Front End | 2.51% | $5,000 / [$100] |
F | PGF 210 | Fee Based | 1.45% | $5,000 / [$100] |
H | PGF 240 | Front End – HNW | 2.20% | $100,000 / [$100] |
I | PGF 250 | Fee Based – HNW | 1.29% | $100,000 / [$100] |
*As at 2023-12-31. The management expense ratio (“MER”) is calculated based on expenses charged to the fund inclusive of applicable taxes including GST and HST (excluding commissions 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.
Asset Class: Canadian and US Equity Fund |
Inception Date: June 28, 2013 |
Valuation Frequency: Daily |
Eligibility: Canada-wide, Registered Plans |
Distributions: DRIP annually, cash optional |
Benchmark: S&P/TSX Composite Index |
Portfolio Manager: David Barr, CFA. |
For More Visit: Legal & Financial
Download the PDF. 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 performance was a continuation from the fourth quarter of last year, with broad based risk appetite returning for investors. Monetary policy and the macro interest rate environment were cues for the rally, kicked off by signaling from the Fed that interest rates…
Mr. Barr is the CEO of Pender. He is also the Portfolio Manager of several of Pender’s funds.
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