PenderFund Capital Management Ltd.

1640 - 1066 W, Hastings St.
Vancouver ,  BC  V6E 3X1

Phone: +1 604-688-1511

Pender is an independent, employee-owned, value-based investment firm located in Vancouver. Our goal is to create value for our investors by generating superior risk-adjusted returns, while protecting capital and minimizing downside risk. Pender has a team of specialist portfolio managers who are expert analysts, security selectors and value investors. They manage a suite of niche investment funds with concentrated portfolios of value-based investments in which they are also investors. We have the following investing philosophy:

- We believe that small and nimble funds, such as ours, can be opportunistic, accessing unique investment opportunities that are potentially rewarding for investors.

- We believe that funds with concentrated portfolios of value‐based investments have the potential to generate superior long‐term, risk‐adjusted returns.

- We believe that managers who have their own financial interests aligned with those of investors in the fund show greater conviction in their investment process and act with heightened vigilance of both risks and opportunities.

Pender is an independent, employee-owned, value-based investment firm located in Vancouver.

Pender is an independent, employee-owned, value-based investment firm located in Vancouver. Our goal is to create value for our investors by generating superior risk-adjusted returns, while protecting capital and minimizing downside risk. Pender has a team of specialist portfolio managers who are expert analysts, security selectors and value investors. They manage a suite of niche investment funds with concentrated portfolios of value-based investments in which they are also investors.