Pender was founded in 2003 and is an independent, employee-owned investment firm located in Vancouver, British Columbia
Image: PenderFund completes acquisition of Vertex One Mutual Funds. Photo: Courtesy of Capri23auto from Pixabay.
PenderFund Capital Management Ltd. (“Pender”) today announced that it has completed its previously announced acquisition of certain investment management fund contracts from Vertex One Asset Management Inc. (the “Transaction”), which will add three new funds to the Pender fund lineup:
The Pender Enhanced Income Fund: formed on the merger of the Vertex Growth Fund and the Vertex Fund with the former Vertex Enhanced Income Fund, will be offered publicly pursuant to a simplified prospectus (the “Simplified Prospectus”);
The Pender Value Fund II: formerly the Vertex Value Fund, will also be offered pursuant to the Simplified Prospectus; and
The Pender Partners Fund: formerly the Vertex Managed Value Portfolio, will be offered privately pursuant to prospectus exemptions.
“We look forward to continuing to build upon the wonderful legacy of Vertex One Asset Management,” said David Barr, President & CEO of Pender. “As an ideas-driven boutique investment firm, we focus on adding value to client portfolios by looking at parts of the market that are overlooked by larger firms.”
“It has been six months since we started working with PenderFund Capital Management, and we continue to be incredibly impressed by Pender’s dynamic approach to value investing and consistent performance, as well as by the genuine culture of integrity found across the firm,” said John Thiessen, President of Vertex One Asset Management. “Most importantly, Pender takes very seriously their responsibility as stewards of their investors’ wealth. We could not be happier to have Pender as a partner for our clients, and encourage you to reach out to the Pender team directly.”
The investment objectives of the Pender Enhanced Income Fund were changed to be consistent with those of the Pender Strategic Growth and Income Fund. With the potential to benefit from the Pender Enhanced Income Fund’s inherited available tax losses, the new objectives of the Pender Enhanced Income Fund will be to generate income and long-term growth in value for unit holders.
With mandates similar to our existing Pender Value Fund, the Pender Value Fund II and the Pender Partners Fund investment objectives will be reset to achieve capital growth over the long-term for unit holders, while being sufficiently diversified to mitigate volatility, and these two new funds may also benefit from their available inherited tax losses.
Source: Company Press Release