Inception Return
(6/1/2009)
|
14.48 %
|
|
YTD Return
|
0.05 %
|
|
NAVPS
(12/31/2025)
|
$37.48
|
|
Change
|
$0.08 / 0.21 %
|
|
|
Growth of $10,000
(As of November 30, 2025)
|
|
MER
|
2.63 %
|
|
Assets ($mil)
|
$398.76
|
|
Rank (1Yr)
|
29/48
|
|
Std Dev (3Yr)
|
27.34 %
|
|
Volatility Ranking (3Yr)
|
10/10
|
|
RRSP Eligibility
|
Yes
|
|
Load
|
Back Fee Only
|
|
Max Front End
|
5.00 %
|
|
Max Back End
|
-
|
|
Sales Status
|
Capped
|
|
|
Objective
The Fund invests in a concentrated portfolio of well-managed businesses, with strong competitive positions, which are overlooked by the market and have the potential for significant capital appreciation. These businesses may be in Canada, the United States or in other foreign jurisdictions with a primary emphasis on companies with a small market capitalization.
|
Fund Manager
PenderFund Capital Management Ltd.
Portfolio Manager
David Barr, PenderFund Capital Management Ltd.
Amar Pandya, PenderFund Capital Management Ltd.
Sub-Advisor
-
|
|
Asset Allocation
(As of November 30, 2025)
|
Sector Allocation
(As of November 30, 2025)
|
Geographic Allocation
(As of November 30, 2025)
|
Top 10 Holdings
| Name | Asset | Sector | Geographic | Percent |
| Tantalus Systems Holding Inc | Canadian Equity | Utilities | Canada | 4.58% |
| Coveo Solutions Inc | Canadian Equity | Technology | Canada | 4.29% |
| 5N Plus Inc | Canadian Equity | Basic Materials | Canada | 3.98% |
| PAR Technology Corp | US Equity | Technology | United States | 3.95% |
| Zedcor Inc | Canadian Equity | Industrial Services | Canada | 3.89% |
| Kraken Robotics Inc | Canadian Equity | Industrial Goods | Canada | 3.73% |
| NFI Group Inc | Canadian Equity | Industrial Goods | Canada | 3.42% |
| Sitka Gold Corp | Canadian Equity | Basic Materials | Canada | 3.36% |
| Hammond Power Solutions Inc Cl A | Canadian Equity | Industrial Goods | Canada | 3.20% |
| D2L Inc | Canadian Equity | Technology | Canada | 3.16% |
Performance Data
(As of November 30, 2025)
|
|
Return (%)
|
Annualized Return (%)
|
|
Return
|
1
Mth
|
3
Mth
|
6
Mth
|
YTD
|
1
Yr
|
3
Yr
|
5
Yr
|
10
Yr
|
|
Fund
|
-6.23
|
-3.47
|
7.19
|
0.05
|
0.85
|
20.55
|
10.92
|
11.49
|
|
Benchmark
|
3.68
|
12.62
|
29.35
|
34.09
|
29.79
|
19.00
|
14.05
|
10.90
|
|
Quartile Ranking
|
4
|
4
|
3
|
4
|
3
|
1
|
2
|
1
|
|
Calendar Return (%)
|
2024
|
2023
|
2022
|
2021
|
2020
|
2019
|
2018
|
2017
|
2016
|
2015
|
|
Fund
|
57.21
|
5.05
|
-29.26
|
24.71
|
46.34
|
19.23
|
-16.34
|
8.48
|
26.10
|
6.63
|
|
Benchmark
|
18.86
|
8.17
|
-10.51
|
18.74
|
12.92
|
17.42
|
-14.41
|
7.15
|
27.23
|
-3.54
|
|
Quartile Ranking
|
1
|
3
|
4
|
1
|
1
|
3
|
4
|
3
|
1
|
2
|