Inception Return
(6/1/2009)
|
14.71 %
|
|
YTD Return
|
4.64 %
|
|
NAVPS
(1/9/2026)
|
$38.97
|
|
Change
|
$0.47 / 1.23 %
|
|
|
Growth of $10,000
(As of December 31, 2025)
|
|
MER
|
2.63 %
|
|
Assets ($mil)
|
-
|
|
Rank (1Yr)
|
43/48
|
|
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 December 31, 2025)
|
Sector Allocation
(As of December 31, 2025)
|
Geographic Allocation
(As of December 31, 2025)
|
Top 10 Holdings
| Name | Asset | Sector | Geographic | Percent |
| Coveo Solutions Inc | Canadian Equity | Technology | Canada | 4.94% |
| Tantalus Systems Holding Inc | Canadian Equity | Utilities | Canada | 4.37% |
| PAR Technology Corp | US Equity | Technology | United States | 4.04% |
| Kraken Robotics Inc | Canadian Equity | Industrial Goods | Canada | 3.99% |
| NFI Group Inc | Canadian Equity | Industrial Goods | Canada | 3.83% |
| Zedcor Inc | Canadian Equity | Industrial Services | Canada | 3.63% |
| TerraVest Industries Inc | Canadian Equity | Energy | Canada | 3.59% |
| Tecsys Inc | Canadian Equity | Technology | Canada | 3.35% |
| Kneat.com Inc | International Equity | Technology | European Union | 3.26% |
| 5N Plus Inc | Canadian Equity | Basic Materials | Canada | 3.24% |
Performance Data
(As of December 31, 2025)
|
|
Return (%)
|
Annualized Return (%)
|
|
Return
|
1
Mth
|
3
Mth
|
6
Mth
|
YTD
|
1
Yr
|
3
Yr
|
5
Yr
|
10
Yr
|
|
Fund
|
4.59
|
-0.92
|
7.35
|
4.64
|
4.64
|
20.00
|
8.80
|
11.77
|
|
Benchmark
|
1.26
|
6.85
|
24.35
|
35.78
|
35.78
|
20.41
|
13.15
|
11.12
|
|
Quartile Ranking
|
1
|
4
|
2
|
4
|
4
|
1
|
2
|
1
|
|
Calendar Return (%)
|
2025
|
2024
|
2023
|
2022
|
2021
|
2020
|
2019
|
2018
|
2017
|
2016
|
|
Fund
|
4.64
|
57.21
|
5.05
|
-29.26
|
24.71
|
46.34
|
19.23
|
-16.34
|
8.48
|
26.10
|
|
Benchmark
|
35.78
|
18.86
|
8.17
|
-10.51
|
18.74
|
12.92
|
17.42
|
-14.41
|
7.15
|
27.23
|
|
Quartile Ranking
|
4
|
1
|
3
|
4
|
1
|
1
|
3
|
4
|
3
|
1
|